Quote from: TheQuin on October 31, 2017, 08:12:36 AM

Quote from: MOB on October 30, 2017, 11:39:18 PM

And since BFX has still yet to issue an announcement about this, yes, if you are a US user you are unable to lend and need to convert to and withdraw BTC, or contact support for a USD withdrawal.

A mature company would have made an announcement containing the date USD could no longer be lent by US customers, then had the withdrawal date 30+ days after. BFX decision making always seems to be this frenetic ill-thought out policy that screws some portion of their customer based needlessly.

They did issue a statement giving 26 days notice.

https://www.bitfinex.com/posts/227

Quote

Announcements > Update: U.S. Individual Users October 16, 2017

This message is further to our announcement of August 11, 2017, with respect to terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinexs peer-to-peer financing platform. This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.

All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.

The announcement contains misleading and false information, as well as being so generally vague. This is exactly the type of half-assed bullshit that BFX regularly peddles. It also makes no mention of how one is to withdraw USD, nor any type of reasonable offer like waiving wire fees or final trading fees on these force conversions since this is all BFX's fault. Let's look more closely.

"As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017."

The previous announcement gave no date, so it was not "indicated." What does "by no later than" mean here? Tomorrow? November 9th at midnight? Why be so vague? Why not have an actual lawyer write these instead of Raphael or Giancarlo, or whomever?

"This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017."

This is simply false. This clause contains no "by no later than" language and says effective November 9th. Instead of going by their publicly posted timeline BFX cut off US lending on October 25th.

Why does BFX provide vague and outright false information to their customers? Let's hope they are merely incompetent. If there was any other site that offered lending and leverage like this then they would sweep up all of the business because of BFX's bullshit.

MOB

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