Post
Topic
Board Bitcoin Discussion
Re: Bitfinex- bank blocked all their deposits
by
1Referee
on 23/04/2017, 12:03:09 UTC
Well I presume they will need to find another banking provider and that means a liquidity exchange crisis.
Easier said than done. It's not for nothing that banks and various financial services have cut ties with these exchanges. Mainly because of the fact that these exchanges aren't operating and registering their activities properly, and thus directly fit in a category of services to avoid. In that regard, think it will take a while before they find a solution to this.

Where it really bites is the people on vacation who come back and see they have withdrawal lock issues online storage is always going to have a risk attached to it.
It's not that people go on vacation and completely forget about Bitcoin for a while. Everything can be done and followed through the internet in current times. If they want to move away from Bitfinex, people can just convert all their fiat to BTC, and cash out these coins to another exchange. If they for a while don't want to deal with exchanges anymore, then they can even *temporarily* make use of a reputable online wallet service to store their coins till they are home. Or they must have a laptop with them that will allow them to directly store their coins there. Plenty of options.