MyBitcoin ToS

MYBITCOIN TERMS OF SERVICE AGREEMENT
1. INTRODUCTION
1.1 This Agreement sets out the terms and conditions under which MYBITCOIN LLC will provide its services to Users and Users will be able to utilise the MyBitcoin System and the Bitcoin Network. User must read this Agreement carefully and understand these terms and conditions prior to any use of the MyBitcoin System. User acknowledges that by accessing the MyBitcoin System and/or creation of a User Account, User accepts and is bound by the terms and conditions of this Agreement without exception. If you have any concerns about this Agreement you should consult a legal adviser prior to using the MyBitcoin System.
2. INTERPRETATION
2.1 Unless otherwise expressly stated the words and expressions listed below shall have the following meaning:
Agreement means the terms of service and/or conditions specified in this document.
Bitcoin Network means the Bitcoin peer-to-peer network and/or client software.
A "Bitcoin" or "Bitcoins" means a standard unit of measurable value that is generated and circulated cryptographically by consensus of all of the computers that participate in the Bitcoin Network.
MYBITCOIN LLC is a registered legal corporate entity of Nevis, West Indies and is the sole operator of the MyBitcoin System and Internet website www.mybitcoin.com.
MyBitcoin System means the MyBitcoin digital Internet User interface and electronic services provided by MyBitcoin that enable the User to access his User Account/s to make and receive Payments over the Bitcoin Network.
User means any person, company, individual, corporation, trust or other entity accessing a User Account on the MyBitcoin System and Users means each and every User collectively.
Username means a code name that is issued to the User by the MyBitcoin System and that the User or Additional Users use to access User's User Account.
3. MYBITCOIN LLC
3.1 User agrees that MYBITCOIN LLC will neither become involved in nor have any responsibility for any dispute between individual Users of the MyBitcoin System.
3.2 MYBITCOIN LLC is not a bank and the MyBitcoin System does not operate as a bank and therefore MYBITCOIN LLC nor the MyBitcoin System are in any way subject to any form of banking regulations in any jurisdiction.
4. USERS
4.1 User holds title to the Bitcoins in the User's User Account and the User maintains all rights and privileges over said Bitcoins.
4.2 User agrees to keep User's Username and passwords private and secure at all times. User agrees that protection of User's Username and passwords, which give access to User's MyBitcoin User Account, is the sole responsibility of the User. User acknowledges and agrees that MYBITCOIN LLC is not liable for any loss in the event of the loss or misuse of User's Username or passwords.
5. TAMPERING
5.1 User agrees not to attempt to, tamper with, modify, reverse engineer, gain unauthorised access to, or in any way alter any software comprising the MyBitcoin System and/or the Bitcoin Network.
5.2 If User uses, or attempts to use, the MyBitcoin System in connection with tampering, cracking, modifying or otherwise corrupting the security or functionality of the Bitcoin Network or MyBitcoin System, MYBITCOIN LLC reserves the right to disable the User Account of User. Additionally, User will be liable for any damages which may result from such action and MYBITCOIN LLC may take such other action against User as it deems appropriate including but not limited to criminal prosecution as well as the notification to the general public of User's actions (at the sole discretion of MYBITCOIN LLC).
6. OBLIGATIONS OF MYBITCOIN LLC
6.1 MYBITCOIN LLC will ensure that for all Bitcoins in circulation in the MyBitcoin System there is at all times an identical quantity of unencumbered Bitcoins held in MYBITCOIN LLC's master Bitcoin wallet.
7. PAYMENTS
7.1 Once a User Account is opened, a User may make or receive Payments to any other User Account and access the User's User Account to view and undertake administrative tasks.
7.2 User agrees that all Payments once initiated by User on the MyBitcoin System and the Bitcoin Network are final, non-reversible and irrevocable and as such the relevant deductions and additions will be made to the relevant User's Account.
7.3 User agrees that all Payments initiated on the MyBitcoin System by User from User's User Account are the responsibility of User, even if the instructions provided by User are incorrect or if the Payments are made by unauthorized Account access.
7.4 The presumption shall be that all Payments are authorised by and are the liability of User and shall be binding on User.
7.5 Payments will only be transacted where there is sufficient Available Bitcoin Balance in the User's Account.
8. INDEMNIFICATION
8.1 While MYBITCOIN LLC will make every effort to ensure the MyBitcoin System is accessible at all times, MYBITCOIN LLC makes no representation that User will always be able to access the MyBitcoin System or the User's User Account and User agrees that MYBITCOIN LLC will not be held liable for any loss or damage, whether direct or indirect, resulting from the use, operation or performance of the MyBitcoin System and/or the Bitcoin Network other than as a result of the deliberate or negligent acts or omissions of MYBITCOIN LLC.
8.2 User agrees to indemnify and hold harmless MYBITCOIN LLC (and its directors, affiliates, officers, employees and agents), from and against any and all claims, losses, liabilities, damages, costs and expenses (including legal fees and costs) arising out of or related to breach of the terms and conditions contained in this Agreement, or from the use of the MyBitcoin System by User and/or Additional Users to whom Primary User has granted Permissions. User agrees that MYBITCOIN LLC shall under no circumstances be liable to User for any damages of whatever nature, kind or description in any location of the world, except for any loss caused by negligence or wilful misconduct of MYBITCOIN LLC. This indemnification shall be binding upon User, Additional User's and User's administrators, executors, heirs, successors, and permitted assigns.
9. PRIVACY AND CONFIDENTIALITY POLICY
9.1 MYBITCOIN LLC recognises the User's right to confidentiality and privacy.
9.2 Unless ordered by a Court of competent jurisdiction, MYBITCOIN LLC shall not reveal User's contact or identifying information or transaction history to any third party.
9.3 MYBITCOIN LLC will ensure that User has the ability to examine User's contact and identifying information and make updates and changes when necessary.
9.4 User agrees that MYBITCOIN LLC has the right to monitor the MyBitcoin System electronically from time to time in order to operate the System properly.
10. OUTAGES & FORCE MAJEUR
10.1 User agrees not to hold MYBITCOIN LLC responsible for any damages, delays, failures in the transmission or losses resulting from situations beyond the control of MYBITCOIN LLC including but not limited to acts of God and nature, acts of terrorism, civil disobedience, lockouts, riots, social or economic upheaval, strikes, wars, or any breakdown in normal communications or utilities infrastructure services or any other cause beyond the reasonable control of MYBITCOIN LLC and to indemnify and hold harmless MYBITCOIN LLC against such damages, delays, failures in the transmission or losses.
11. FEES
11.1 MYBITCOIN LLC does not charge or deduct any fees for the use of the MyBitcoin System or Bitcoin Network.
12. ASSIGNMENT OF THIS AGREEMENT
12.1 All rights and interest of MYBITCOIN LLC in this Agreement shall be continuous and shall inure FOR the benefit of the successors and assigns of MYBITCOIN LLC and all Users rights and obligations assigns whether by merger, consolidation or otherwise and shall be binding upon User's executors, administrators, heirs, successors and permitted assigns. MYBITCOIN LLC may assign this Agreement or any of its rights, obligations or duties under this Agreement at any time without the consent of User but only to an assignee that has agreed to be bound by the terms and conditions of this Agreement. User shall not delegate any obligations hereunder without the prior written consent of a duly authorised officer of MYBITCOIN LLC.
13. RIGHT OF ASSOCIATION AND TERMINATION
13.1 MYBITCOIN LLC reserves the right to refuse and/or limit access to the MyBitcoin System and/or Bitcoin Network or terminate the User's rights under the Agreement to use the MyBitcoin System in respect of any particular individuals or entities, at its sole discretion, with or without cause.
14. AMENDMENT, UPDATE, MODIFICATION & WAIVER
14.1 MYBITCOIN LLC reserves the right to amend, update and/or modify (with or without prior notice) this Agreement as needed or as required. Any amendment, update or modification of this Agreement at any time will be advised by written notice given through the MyBitcoin System's web pages. Any such amendment or update to this Agreement supersedes and nullifies the previous agreement in effect. User agrees that use of the MyBitcoin System after such notification of changes in this Agreement, indicates that User will be bound by all such changes. User will have the opportunity to reject such modification at the time of such modification. Any rejection of the amendment, updating or modification of this Agreement by the User shall constitute a termination of User's rights to access and use the MyBitcoin System.
15. SEVERABILITY
15.1 In the event any one or more of the provisions of this Agreement shall for any reason be held to be invalid, or unenforceable by any court of competent jurisdiction, the remainder of this Agreement shall remain valid and enforceable. The enforceability of any such provision shall otherwise be unaffected and remain in full force in all other jurisdictions.
16. LAWS GOVERNING THIS AGREEMENT
16.1 This Agreement is governed by and construed in accordance with the laws of Nevis and Saint Kitts and the parties submit to the exclusive jurisdiction of the Nevis Law Courts.
16.2 The failure of MYBITCOIN LLC to enforce strict compliance with any of the terms of this Agreement in a timely manner shall at no time be seen as a waiver of such power or right. Furthermore, any single or partial exercise of such power or right shall at no time preclude any other future exercise.
16.3 The rights and remedies of MYBITCOIN LLC as outlined in this Agreement are cumulative and are inclusive of all other rights or remedies available to MYBITCOIN LLC at law or equity.
17. DISCLAIMER
17.1 User agrees that the use of the MyBitcoin System and/or Bitcoin Network and related services by User is at the sole risk of the User. No warranties or representations of any kind are provided to User either express or implied except as are contained in this Agreement. This Agreement comprises the entire agreement between the parties.