Commentary on Stormpay

I actually posted this on another forum a couple of days ago:

Well I am of two minds on this.

On the one hand, Stormpay is located in the United States and could
be
getting (or be afraid of getting) pressure from the US govt.

We are all (I think) well aware of the "raids" on egold and INTgold
in
December. Egold is still functioning despite all the bad press,
while
INTgold appears to have shut down.

Clearly this "online ecurrency" field is new and not yet subjected to
all the rules and regulations of banks and brokerage/trading firms.
And with little ID verification for most of the ecurrencies to-date,
anonymous transactions are the norm and definitely leave a door wide
open for fraud and money laundering.

Not to mention that if ecurrency transactions become regulated, the
various govt entities might be able to slice off a little bit for
themselves...

BUT!!!!!! Those of us who have been around these parts for more than
a year or so, remember all too vividly the closure of Evocash last
year with an awful lot of ppl's money still sitting in virtual
accounts... no refunds were ever forthcoming.

So which is it, Stormpay? Are you simply complying with US
regulations and working toward a "know your customer" solution?

Or are you setting up a forced monopoly to capture extra cash and
then
heading for the hills?

Inquiring minds want to know.
















I think the answer is now clear. Stormpay doesnt have the money. What they did with it, I have no idea. But they panicked when 12DP made a large withdrawal request and started stalling. Classic scam-running-out-of-money tactic. When the stalling didnt work, they froze the acct. And then, to be sure that the other autosurfs didnt make a run on the bank, they froze all their accounts as well.

I had a credit card transaction from yesterday reversed by Stormpay. Hopefully it didnt go thru on my cc, but I will wait and see for a week or so and then call my cc company.

In the meantime, Stormpay says I owe them $48. I think I will surf Stormclix to pay them back. Might take a while. :D