ARTICLE 1 – PURPOSE & ACKNOWLEDGMENT
1.2. Bluegrass Bitcoin is an American company which sells and purchases bitcoins directly to and from its registered members exclusively, in exchange for sovereign currencies.
1.3. Bluegrass Bitcoin is not a financial institution, deposit institution, bank, credit union, trust, deposit business or a cryptocurrency exchange. It is an institutional retailer of bitcoins engaged strictly in peer-to-peer transactions with its members.
1.4. Bluegrass Bitcoin does not hold the funds of its members and is not protected by the FDIC.
1.5. By registering as Bluegrass Bitcoin members, or using the Bluegrass Bitcoin site and/or Bluegrass Bitcoin services, you acknowledge and agree that:
- 1.5.1 Bitcoins consist of entries in a cryptographically secured distributed ledger (“the Blockchain). They are not legal tender and have no inherent monetary value.
- 1.5.2 Ownership of bitcoins is defined as the exclusive possession and knowledge of a private key to which is associated a balance of bitcoins on the Blockchain.
- 1.5.3 Transactions with Bluegrass Bitcoin, i.e. the purchase and sale of bitcoins, do not constitute a trading of, or an exchange in, securities, investment contracts or any document, instrument or writing commonly known as a “security”, at law or otherwise.
- 1.5.4 The value of Bitcoin cannot be guaranteed and, at any point in time, the monetary value of bitcoins on markets can be null.
- 1.5.5 Any purchase or sale of Bitcoins, for money, virtual currency or other consideration, is inherently risky and may result in the complete loss of such money, virtual currency or other consideration, and you agree to wholly accept any and all such risk. You will not hold Bluegrass Bitcoin accountable for any gains and losses of monetary value that you incur as a result
- 1.5.6 You are entirely responsible for the security and storage of your bitcoins and you will not hold Bluegrass Bitcoin accountable for the loss of bitcoins.
- 1.5.7 Bluegrass Bitcoin may, from time to time, send you promotional or marketing messages in the form of email or SMS text message.
- 1.5.8 Bluegrass Bitcoin may change your membership level at any time.
- 1.5.9 Bluegrass Bitcoin can impose transaction limits on your account at any time.
- 1.5.10 Bluegrass Bitcoin can enable or disable certain payments methods for each individual member at any time.
- 1.5.11 You are liable for any taxes or fees that are payable under law as a result of your use of the Bluegrass Bitcoin site and services. You are responsible for the payment of any such taxes or fees
- 1.5.12 When you register as a Bluegrass Bitcoin member, you agree to provide accurate and complete personal information and other information necessary for registration. Bluegrass Bitcoin relies on this information to provide its services. Bluegrass Bitcoin also relies on this information to ensure its services are compliant under law, and thus cannot be liable for any criminal or civil actions against you that may result from you providing false information.
- 1.5.13 Bluegrass Bitcoin cannot guarantee its services will always be available, or free of errors. However, Bluegrass Bitcoin will undertake all reasonable efforts to provide a stable and reliable service, and will attempt to resolve any problems quickly and with minimal disruption to services. Bluegrass Bitcoin reserves the right to close its site for maintenance at any time.
- 1.5.14 You are responsible for providing the hardware necessary to use Bluegrass Bitcoin services. Bluegrass Bitcoin is not responsible for your computer settings, internet connections, or any other additional hardware or software you require to use the service.
ARTICLE 2 – BLUEGRASS BITCOIN MEMBER GUIDELINES AND TRANSACTION RULES
2.1. By registering as a Bluegrass Bitcoin member, you agree that you shall comply with the Bluegrass Bitcoin Member Guidelines and Bluegrass Bitcoin Transaction Rules. If you do not respect the Bluegrass Bitcoin Member Guidelines or Transaction Rules, your membership with Bluegrass Bitcoin will be terminated.
2.2. The Bluegrass Bitcoin Member Guidelines are:
- 2.2.1 You will not use Bitcoin for the purpose of Money Laundering or Terrorist Financing.
- 2.2.2 You will not use Bitcoin to commit any act of violence whatsoever, including theft and fraud.
- 2.2.3 You will not use Bitcoin to commit any crime whatsoever in accordance with the laws of Kentucky or the laws of your jurisdiction.
- 2.2.4 You will not use Bitcoin to purchase any illegal goods and services on so called “dark markets”, over the TOR Network or otherwise, including but not limited to illegal drugs, credit cards numbers (i.e. “carding”) and fake identification.
- 2.2.5 You will not use Bitcoin to avoid paying taxes or to illegally hide assets.
2.3 The Bluegrass Bitcoin Transaction Rules are:
- 2.3.1 You are in full control of the Bitcoin wallet used in any transaction with Bluegrass Bitcoin.
- 2.3.2 You are able to demonstrate that you control your Bitcoin wallet by making, upon request, a refundable test transaction of no more than 0.001 BTC with Bluegrass Bitcoin from the Bitcoin addresses used in transactions with Bluegrass Bitcoin.
- 2.3.3 You will not conduct transactions with Bluegrass Bitcoin on behalf of another person or entity.
- 2.3.4 All transactions with Bluegrass Bitcoin are final and non-refundable.
- 2.3.5 When purchasing bitcoins from Bluegrass Bitcoin in person, it is your responsibility to verify that you have received the bitcoins before leaving the Bluegrass Bitcoin premises.
- 2.3.6 When purchasing bitcoins from Bluegrass Bitcoin online or any method which is not in-person (e.g. by email, by SMS, over the phone), it is your responsibility to provide Bluegrass Bitcoin with a valid Bitcoin address that you control.
- 2.3.7 In the unlikely event that Bluegrass Bitcoin does not complete a transaction after a member has sent payment, or that the payment was mistakenly sent by Bluegrass Bitcoin to the wrong Bitcoin address or the wrong account, Bluegrass Bitcoin will conduct an investigation. If it is determined by Bluegrass Bitcoin that the fault lies on Bluegrass Bitcoin, Bluegrass Bitcoin will either refund the member or complete the transaction with the member as initially intended.
- 2.3.8 Bluegrass Bitcoin calculates the price at which it sells bitcoins according to reference indexes developed by third party institutions in conjunction with the costs associated to the transfer of bitcoins to its members. Bitcoin prices at Bluegrass Bitcoin are updated every 60 seconds and will differ according to payment methods. At any time, Bluegrass Bitcoin reserves the right to modify its prices without notifying its members.
- 2.3.9 Unless explicitly specified in writing by Bluegrass Bitcoin directors, the conversion rate used by Bluegrass Bitcoin in transactions with its members is the conversion rate specified on the machine for the specific payment method. This conversion rate is applied at the time at which Bluegrass Bitcoin receives proof that the payment has been initiated by the member, or the time at which the payment is initiated by Bluegrass Bitcoin.
ARTICLE 3 – ACCEPTANCE & TERM
3.2. This agreement becomes effective the day Bluegrass Bitcoin accepts your registration as member, or the day you use the Bluegrass Bitcoin website and/or Bluegrass Bitcoin services.
3.3. This agreement will be in effect for as long as you are a registered member, expect for Article X, which shall survive the termination of this agreement.
3.4. Bluegrass Bitcoin retains the right to terminate your registration, the Bluegrass Bitcoin services, or the Bluegrass Bitcoin site, at any time and without cause or prior notice to you.
ARTICLE 4 – CONDITIONS SUBJECT TO CHANGE
4.1. Bluegrass Bitcoin retains the right to change or amend this Agreement at any time. You can check what terms and conditions are in effect by reading the Agreement on the website.
ARTICLE 5 – ACCOUNT SECURITY & FRAUD
5.1. You agree that you will not share your password and other account information, and that you will undertake all efforts to keep your password secure.
5.2. For all online purchases, you agree to always receive bitcoins at the Bitcoin address associated to your account. You can only change this Bitcoin address in-person or after receiving an SMS verification code.
5.3. If you lose the phone associated to the phone number associated to your Bluegrass Bitcoin account, you must immediately report the lost or stolen phone to Bluegrass Bitcoin. If you believe the phone was stolen, you must file a police report.
5.4. In the event that someone gains access to your account, they will only be able to purchase bitcoins on your behalf. They will not be able to purchase bitcoins for themselves using your account without access to your phone.
5.5. If Bluegrass Bitcoin believes that your account has been compromised, we reserve the right to:
- 5.5.1 Request you to modify your password
- 5.5.2 Verify your identity and account by calling you or sending you a text message
- 5.5.3 Disable access to your account
ARTICLE 6 – PRIVACY
ARTICLE 7 – MISUSE
7.1.In consideration of the availability, and your use of, the Bluegrass Bitcoin site and services, you agree to comply with all applicable laws and this Agreement when using the Bluegrass Bitcoin site and services. You also agree that neither you, nor any person influenced by you, or any person acting under your direction, will:
- 7.1.1.Use the Bluegrass Bitcoin site or services in such a way that violates applicable laws, licence agreements, copyright, or other intellectual property rights; or
- 7.1.2.Post, transmit, link to, or otherwise distribute any materials, information, or content constituting, advocating or encouraging conduct that would constitute a criminal offence or give rise to civil liability, or otherwise use the Bluegrass Bitcoin site or services in a manner which is contrary to law or would serve to restrict or inhibit any other use from using or enjoying the Bluegrass Bitcoin site or services, or the Internet. ; or
- 7.1.3.Post, transmit, link to, or otherwise distribute any inappropriate, profane, defamatory, infringing, obscene, indecent or unlawful material or information; or
- 7.1.4.Use the Bluegrass Bitcoin site or service to commit illegal acts, “hack” the Bluegrass Bitcoin site, or modify or interfere with the Bluegrass Bitcoin site or service in any way.
- 7.1.5.Any acts you commit, or cause to be committed, which, in the opinion of Bluegrass Bitcoin, intentionally expose the Bluegrass Bitcoin site or service to cyber threats such as viruses or hacking, or increase the likelihood of a security breach, will also constitute “Misuse”.
ARTICLE 8 – USER LIABILITY
8.1 You will be liable for any damage resulting from the following:
- 8.1.1 Non-compliance with the Bluegrass Bitcoin Member Guidelines
- 8.1.2. Non-compliance with the Bluegrass Bitcoin Transaction Rules
- 8.1.3. Any Misuse of the Bluegrass Bitcoin website
- 8.1.4 Your use of the service when it was the basis for someone taking legal action against Bluegrass Bitcoin for violations of applicable laws, license agreements, copyright or other intellectual property rights; or
- 8.1.5. Your use of the Bluegrass Bitcoin site or service resulted in others being unable to use the site or service properly, resulting in legal action against Bluegrass Bitcoin
ARTICLE 9 – BREACH OF CONTRACT
9.1 Bluegrass Bitcoin can disable your account, and take all further action against you it deems appropriate if, in the opinion of Bluegrass Bitcoin:
- 9.1.1 You have violated the terms of this Agreement; or
- 9.1.2You have Misuses the Bluegrass Bitcoin site
- 9.1.3 A public authority requests we disable your account
ARTICLE 10 – BLUEGRASS BITCOIN LIMITATION OF LIABILITY
10.1 By using Bluegrass Bitcoin services you acknowledge and agree that Bluegrass Bitcoin bares no responsibility or liability to you for the underlying value of any virtual currency such as Bitcoin, or for any governmental or regulatory intervention in to the operation of the Bluegrass Bitcoin site or service. Bluegrass Bitcoin specifically disclaims liability for any losses, foreseen or unforeseen, that you may suffer as a result of use of the Bluegrass Bitcoin site or service. You agree that the use of the Bluegrass Bitcoin site and service is at your sole risk, and that the Bluegrass Bitcoin site and service is provided on an “as is” and “as available” basis.
10.2 Bluegrass Bitcoin makes no representation or warranty that the Bluegrass Bitcoin site or services will meet your needs, or that your access to the Bluegrass Bitcoin site or services will be uninterrupted, timely, secure, or error-free..
10.3 Bluegrass Bitcoin specifically disclaims any liability to any users in jurisdictions in which the use of services such as that offered by Bluegrass Bitcoin is illegal. Bluegrass Bitcoin is not liable for any consequences resulting from the use of the Bluegrass Bitcoin site or services by users in jurisdictions where such use is illegal.