Ok so I started trading at bitstamp not too long ago. I really like the exchange and I am the sort who never ever intends to withdraw USD ever again. Any money I put into Bitcoin, stays there. Period. For this reason I have never needed to complete KYC bullshit. Bitcoin doesn't require KYC. I never had a problem in the past, even at Bitstamp, send Bitcoin from my account wallet to anywhere I want. I stopped trading about a month ago or so and sent most of my Bitcoin to a savings address. All except for .3btc which I forgot all about until I logged into my Bitstamp account yesterday and saw my remaining balance. Sweet! Thats like finding $100 in your pocket you forgot you had! So I go to send it to my savings address and BOOM Bitstamp refuses to let me access my Bitcoin until I have completed their KYC bullshit.
WTF
I am the account holder and those are the Bitcoin I deposited into my account in good faith that Bitstamp would not block me from accessing my own funds.
I didn't need to do KYC to create or fund my account and trade, why in the hell should I verify my identity to you for any reason short of a USD withdrawal request??
Does anybody have any idea what the fuck they are thinking?
I regard this as theft, pure and simple. They are holding my Bitcoins for ransom. I can prove that I am the owner of the account. With Bitcion what else is there to know? Give me my fucking Bitcoin! I can even give them the secret API key, that only the holder of the account could possibly know, that I use to develop trading applications. Undeniable proof that those Bitcoins are MINE. An there is no law in the world that gives them the right to hold them from me for any reason.
Is this the normal thing now? WTF is going on with these whack ass exchanges?
First Bitfloor ... now Bitstamp
This is the first time with Bitcoin that a service I trusted is trying to keep my money and it's infuriating.
I will never store Bitcoin in a hosted wallet ever again. FUCKING BANKS their mentality is already starting to win over our new world of money. Figures