Announcement: Flexpool.io is halting all service to Russia

As everyone has heard, Russia has launched a surprise invasion of Ukraine. The world is again faced with war, which could signal the next and possibly final war. This may be the biggest war since WW2, bigger than any of us, and goes beyond politics or nationality. This is a war at a time of peace when we are busy dealing with and recovering from the COVID-19 crisis. People are dying, and the world is guessing whether the West will join in or watch Ukraine fall to Putin’s ambitions.

We generally do not get involved in politics despite our personal views as a company. However, this is greater than politics, greater than anyone. This is a war that may end the world. It certainly is ending the lives of many innocent people in Eastern Europe. While there is little we can do, it would be wrong to profit off of it or fund it indirectly. We are canceling service to all Russian IPs and paying out outstanding balances.

We apologize to our Russian miners; many of you do not support the war. However, it is you who are supporting your nation. Without the people, Russia cannot operate. It is only through reducing the economic power of its people that we have a chance of affecting this war. We thank you for your loyalty, and I hope you understand that we do not make this decision lightly. Should this situation be resolved peacefully, we will happily welcome back all Russian miners and use our personal funds to make it up to you.

If you are in Ukraine and reading this now, know that the world is with you. We can’t change the situation ourselves. We call on other companies and people around the world to join us and make a difference together. This isn’t about politics; this is about preventing the end of the world and saving lives. Companies and people need to put the planet over profits in the modern era. Ukraine has four nuclear power plants. Even ignoring the chance of WW3, there is a chance of another Chernobyl should one of the plants be endangered. The Fukushima nuclear disaster in Japan happened despite the plant having been forewarned so that they were shut down and built to withstand an earthquake. Everyone in Europe, Russia, and the Middle East are in danger of nuclear fallout should the worst happen. Notice that the world will only end not because people do something but because people know yet choose to do nothing.

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46 thoughts on “Announcement: Flexpool.io is halting all service to Russia”

  1. Wow that’s pretty impressive considering you could have likely ducked the issue.

    Morals in any business sector is extremely rare, in financial markets even more so!

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  2. Understand the logic behind your decision, but ordinary Russian folks who have nothing to do with the war will be greatly impacted by this. Also while your decision might be correct in this particular situation this is nevertheless an example of the pitfalls of centralization.

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  3. Posts about Russian citizens protesting against war on the streets of Moscow, St. Petersburg and other cities are all over Reddit. Also from Russian citizens donating to Ukrainian charity organizations.

    Never forget it’s not the people who should be sanctioned, it’s their leaders. This is the most senseless war ever, no one wants it.

    Crypto might turn into the only way for Russian citizens who got fined for supporting anti-war movements to receive donations, as well as to (anonymously) send donations to Ukrainian charity organizations.

    We built censorship resistant crypto currencies.. we can hardly stop anyone from using them now.

    Peace

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  4. This move really doesn’t make any sense. Definitely a 180 from goals of decentralization and “permissionless” nature.

    I guess it really doesn’t matter, the smart miners will be using VPNs, anyways.

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  5. Virtue signaling publicity stunt from a relatively unknown company.

    Will you stop serving US customers because the White House funded a civil war in Syria? No.

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  6. It’s not like you’re a foreign country imposing sanctions. The best you’ll achieve doing this is to make things more inconvenient for the crypto community in Russia, which is by and large not the patron of this stupid war.

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  7. Fuck this. This is going to affect Russian citizens mainly. This is very anti crypto principles. FTX helping Ukranian citizens is the way to go, not blocking a country where millions of innocent people live.

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  8. Russian civilians have nothing to do with this. In fact a lot of them are against the war. Not sure if this is the right move

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  9. “this isnt about politics but we ending it because politics” fucking bullshit if you ask me, flexpool just proved they would spit in a starving man/womans face if it serves their agenda, take a big part of afrika wich is rules by random warlords and shit, should we stop helping the starving people there with building wells and crap because the leader is fuked?

    Im sure alot of rich people mine, but its also alot of random basement dvellers who do so to, average joes like us random people, so now you take their way of earning money, for them and their familys, good jobb flexpool.

    Im sure those miners can find a new jobb easy now in these situations.

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  10. While it’s nice to take a stand, I don’t really see the point. This will change nothing but affect Russian miners, not Poo Tin. These are not the sanctions we talked about.

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  11. This situation is very nuanced with a long history of bad actors on both sides , don’t trivialize it and do some research

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  12. I’m legit shocked but also impressed by this move. Its surprising a mining pool would take this stance but I see why they would. I do feel for the people affected by this though that want nothing to do with war

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  13. Interesting how you mention this isn’t about politics, but very clearly pick a side to present. Objectively, the Russian view is different than the one you present here.

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  14. Holy shit it’s rare to see a company do this. I hope many exchanges follow suit but I’m willing to bet my left nut that they won’t.

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  15. Here’s the thing. I hate Russia in all of this, but if you want to be consistent with all the people hating the traditional banking system, central banks, etc. banning countries is exactly what Crypto is supposed to avoid. So which is it? Is it only bad when Trudeau does it to protesters but it’s fine we ban Russia from the rest of the banking sector?

    For the record I don’t drink the kool aid about crypto. I’m bullish on it, but I also have a full blown fiat life where I make money from my paycheck and invest in ETFs for my retirement. I’m not going to pretend that only one system can work for me, but it’s interesting to see the # of people who love to trash central banks and big banks and every aspect of fiat.

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