LBC (LocalBitcoins.com) under Gov. pressure, Next on the Banned List like BTC-e ? - Users Beware !

Jeremias Kangas Founder of Local Bitcoins

Thousands of LBC users are complaining about the recent rules imposed by the Localbitcoins staffs against the users of the website. Some claimed LocalBitcons.com is no longer a site to be trusted due to pressure from the government, 'it has recently become another scary site of the day' according to a frequent user of the site.

It recently asked all users to register an ID before posting any Advertisement on the site. What this means is that no user can post an ad on the P2P website anymore without first of all confirming their Identity, thereby denying users the very basic principle on which BTC was built on. (A decentralized platform for users)

The last time we reported that any .com site cannot be trusted as the U.S government can easily shut down the .com site as the case with this Russian runed Website . Many may not be aware of this simple information about any .com domain as it can be seized by the U.S government any day. This is part of the ongoing war against BTC and its users. The recent one was the case of BTC-e Domain which was seized after they lawlessly arrested the alleged owner of the site, accusing him of Money Laundering.

One could say this is double standard at maximum level and a totally dishonest motive behind arresting those who fight for the masses(99%) financial freedom while comparing it to that 1% who stack up their trillions in Panama.  This is like a drop of water in the Ocean.

U.S government has track records of arresting anyone it sees a threat to its dollar  world domination and it has been doing the same thing since the days of Liberty reserve.

Solution
Many are now suggesting that the best thing for users on LBC at this time is to Transfer their BTC out of the Exchange or have a very small amount in the Exchange and keep a large amount of their BTC in a decentralized wallet or Bitcoin Core. At the moment, you have to have about 0.04BTC in the LBC wallet to be able to participate in trades with exorbitant charges like deposit fee, 1% maker fee.

See a few Excerpts from users of LBC bellow.