Bitcoin Forum

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

i think there is have two option
1. for them get trust back from bitcoin user
2. it's a little weird as we know in the history, bitfinex it's very rarely leads the market price.

bitfinex was, and still is the leading usd exchange in trading volumes. but i meant weird in the way that after such a ridiculous "hack", that traders still see it as an exchange of importance. also, if their volume is real and not artificially kept high, then it means that traders have most likely given that exchange a second chance, or they are buying up coins to withdraw them from that exchange.

Morons gonna moron. People love their ui. What i don't get is why kraken don't take some pointers from it and implement them.

yes today Bitfinex was leading for bitcoin price and i'm also a bit surprise because usually BTCChina and Huobi always be leading on the price movement but now Bitfinex is the highest price $631 however i don't know this true or not seems yes plenty traders has giving second chance to those exchange
 

it's the same as bitstamp, remember when it was hacked and 25k bitcoin stolen? now they are good again, it seems that people tend to forget everything lol, i would not use those exchange ever after what is happened

the difference is that no bitstamp customers lost anything though. they certainly lost a bunch of market share all the same. that's why I don't get why anyone would risk going back to bfx. what the hell is wrong with people?

yes this is really strange, it is unlikely people will believe and put a lot of money in it after the hack, it is very difficult to get a second trust. because they are concerned, also see another case like mtgox never come back again.

Think a majority of bitcoin users now are driven by profit and it sometimes clouds better judgement as they chase the elusive millionaire status the early adopters supposedly all received.  You combine that with the fact that a mass is quite young for the most part and lacking in life experience to pull on about say issues like the one we have here in this thread.

If you take the two factors mentioned you get a pretty good picture as to why people are so quick to jump back onto a red flag issue like it is business as usual. The way they planned to fix the issue should scare any one that decent enough amount on any exchange.

I think soon they gonna add monero, but for bitfinex it may take longer time for them to stand and rise again to regain user trust so they may not add monero for now. I don't think bitfinex can gain same amount of userbase and trust again.

However it is hard to believe actually bitfinex is leading the market price right now.  ::)

One of the reason can be the that they have lots of users, and they just can't leave or change the exchange, but also they have investors with have their back. And because they promise to give back the lost money to the users very soon, not like the bter which was hacked more than a year ago and still no progress.

LoL, once an exchange gets hacked, I would not trust it ever again with my money.
Try out this new exchange: TuxExchange.com (http://TuxExchange.com)
It is secure, fast and easy to use.

no contact details, no usd, 0.19 btc on the eth order book. wow. looks like we've all found our new go to exchange.

If bittrex they are saying truth that they are hack and i think they dont want to lose some audience and investors or traders they will do to pay the loses of their costumers.. and i hope for those who affect are receive their money back..
And i think its a good effect in the price of bitcoin right now because its increasing fast again back to this level..

There are numerous ways of contacting tux, facebook, twitter, telegram, tux site chat and email.
Tux is registrated in Canada. I am a chat moderator/team member and know we are a fair exchange. We don't accept coin request and will only consider top altcoins to be added, no shit coins with backdoors...

That being said, we also don't accept fiat because it needs user verification. We are currecntly implementing a maker/taker fee. We currently have a flat rate of 0.15%. We will have the lowest fee of all exchanges. We support 2FA for account security. Our system is probably the fastest one around and is user friendly. We have stress tested our system with super fast trading and there wasn't even lagg. At last, but not least we have DDOS protection, so there should be no downtime.

It's about Bitfinex, and not Bittrex. Bitfinex first takes 36% of the money of all their traders, and is now slowly "returning" it to them. Class action! And yes, the market is slowly leaving the Bitfinex drama behind and moves forward.

Thats a good news that bitfinex are still building trust again and i think they are trying to get back their loses from issue before..
But many people losing trust again in their site if they are build a newly design and newly security about their site maybe other people can trust them again..

The shepherd leading his flock to the shear...

Nobody will trust them ever again. Are they buying trust or making fake trusts, i don't know. But people should be very stupid if that's real. On the other hand, you can say that, "can they hacked twice in a row?" i mean, they should have secured their shit more, right? I wouldn't take that risk. I would trade on exchanges that never hacked till now.

Building trust should be based on good behaviour of in this case the exchange. It's mind boggling how easy traders seem to forgive an exchange that messed up big time. If I was a trader there, then I wouldn't want my coins to stay there for a second longer. I would cash out every bit of coin and fiat I have there, and make use of another (trustworthy) exchange.

there's nothing wrong with kraken IMHO.

Maybe the reason bitfinex is so popular is because it allows users to 'borrow' bitcoins so that other traders can use these to trade on margin and make a profit from borrowing their bitcoin.

It was bitfinex who did that right?

I wouldn't mind if kraken did the same, because that would allow me to make a bit of profit on the side by lending some of my bitcoin to margin traders.

Bitfinex regained trust? Of who? Because exchange compromised in such manner won't gain my trust ever again.
And I didn't hear of any refunds to theirs users (apart from that shady proposal - "we will give you bitfinex's tokens).

Have they actually refunded money to anyone? It should be first requirement for them to continue existence as an exchange.

Bitfinex? Trust? No way dude i will keep my foot away from that site, i cannot trust bitfinex at this moment since i don't want to cry on if the hack will hit again for their site, maybe they will get a hard time to get back the trust of their user's since people cannot forget easily the hacking issue hapoened there and thats a big - for their side since users needs safety and bitfinex doesn't have that back those days.

traders that were already active there and chinese traders operating from okcoin and huobi. regarding the refunding part, not really. bitfinex has bought 1% of the debt tokens they issued to all victims. they see it as something they did back for the people, but it doesn't even make a positive dent in the overal damage.

It wasnt really their fault they got hacked. They got BitGo to do all the withdrawal monitoring. But they honestly shouldn't have chosen multisig over cold storage.

I also don't know nothing about any refund, only thing I heard about is that users there will get some tokens. Maybe now they trade with this tokens, cause they cant withdraw their money. In that case they would be tied up for this exchanger, if they quit its gonna be like they quitted from their money there.
I don't know can they lead market or not, this increase is nice and that is what is most important. Hello 700 dollars we are coming back to you.

So this mean they still trust bitfinex after all the things happened and leading the market, again?. I doubt they will lead that easy. Everything takes time before they regained what they have before.

Kraken are way more cunning than Bitfinex.

They steal from their customers also, but instead of grat big headline grabbing smash n grab, Kraken opt for the slow drip drip effect. A never ending cash cow that they can milk, so long as they don't get too greedy.


Wouldn't be surprised if someone at Bitfinex ends up doing jail time for the heist. My money would be on greasy wop B movie con-man bad guy, Giancarlo Devasini:

 https://media.licdn.com/mpr/mpr/shrinknp_200_200/AAEAAQAAAAAAAANMAAAAJGI5MTNhODEzLTExZDctNDA5OS1iMzYzLTRlOTI2OTZiMzdkZg.jpg

i can't really understand how but somehow they managed to gain the trust of their users once again. and surprisingly enough they gained this trust back so fast after they cam back online which is really strange. anyways i am glad to see them back and not just disappear like so many other exchanges that were hacked.

Even before the hack, when there was problem with their websites, I withdrawn my bitcoin from them already. It was almost I know something bad might happen. Then the hack happen. SO i too do not understand how some people still trust these online exchanges. Maybe they are taking their chances. IT is their money, so they can put it wherever they want.

with bitfinex back and more healthy than ever. things are looking good for bitcoin because it is back on track or in other words it is back where it was before this stupid hack happened.

I'm glad to see that the market is willing to accept Bitfinex back into its arms and they're trading on it again; now the debt that they've been giving out will eventually be repaid and we won't be seeing any economic issues (imo) from the hack. I won't be surprised if we see Bitfinex take a considerably more dominant position after everyone gets comfortable again with them again, but I don't know if they will every to be able to fully recover.

the leading company exchanger bitcoin
is still huobi and okcoin, you can see in coinmarketcap
volume transaction biggers still huobi and okcoin

but i wan to ask trading in bitfinex is now savety or not this capital money

Maybe what made people gain a sort of trust in them was their "good" handling of the hack and the communication regarding it.

kraken do margin too. maybe they do less of it, and customers themselves can't lend on there as far as I know. I guess it's the liquidity people liked about bfx but the same can be replicated elsewhere if they had the gumption to go to a place that didn't screw them.

Good handling? Taking people's money while these people should at all times have their balances untouched in any extreme case. It's like, they take $1000 from you at the beginning, and slowly pay you back your $1000 in very slow steps. Or at least, that's what they want to make you believe. Well set up plan from the Bitfinex owners....

Any news about bitfinex if this is true or not i do not seen any news aboit bitfinex even in twitter only the token.
Do you have a source where did you get this news?

bitcoiners seem to have the world's lowest expectations. they're willing to trust anonymous assholes and thank them for not completely screwing them up the ass. and we wonder why there are so many scams...

These people are probably laughing at how easy it is to make millions on the back of such people. I am even sure that if an exchange with the size of Bitfinex, Huobi, OKCoin wants to make $1 million worth of coins disappear, that no one will even notice it. If they do that every one or two years, then it's a jackpot for them.

It was probably always likely to happen but I must stress to people, even more so than last time, please do not leave lots of coins on there. Only leave what you plan to sell on their exchange & even then I'd do it in smaller amounts multiple times.

people are too lazy to withdraw their coins from exchanges. they want to be able to sell as soon as they see that the price is going down or peaking. that's their reason of why they think it's "better" to leave their coins there. these people are seriously not learning from all the "hacked" exchanges that we have seen.

sometimes it is not possible to withdraw every time you close the exchange window. sometimes you want to open an order and leave it open so it gets filled with your desired price not the current price so you take a position and you hve to have some coins on the exchanger live and open in an order.

that is a tremendous achievement i think. it really gain the confidence of the people back in no time. i think the credit goes to the people who really put their assets again in bifinex it really very good and in favour of the bitfinex exchange.

I am not sure if bitfinex had to do anything to get the trust back. They simply did not get completely bankrupt and could keep their business alive.
So there can still be money made, and that is the thing that draws the people back to it. Regardless of what has happened.
Maybe bitfinex has improved their security and is now the safest exchange out there, that I do not know.
If that would be the case, people would not be wrong to work with bitfinex again.

It is good that they have been able to get back on track and get back to where they were, although I would think they would have lost a lot of traders due to this and it will take a serious effort to gain those users back.

I think that's not really the issue. If you are trading (having open orders is part of that), then you don't have to withdraw your coins. But if you are doing nothing, and just leave your coins there as some sort of online storage, then the coins should be immediately withdrawn.

Yes actually it is still quite suprising to see bitfinex leading the price rather than other exchangers even after they lost so many traders or they get trust of their traders back?  ???
I have heard they are quite known in manipulating trading volume internally, may be this is also one sign of that.

They probably got some investors to generate some trading volume on their platform, just to attract more people... I sincerely hope they get back on their feet stronger than before... keeping my fingers crossed.

I noticed yesterday their volumes we much higher than kraken/stamp, its the first time i've seen such a gap.  Looks like all they need to do now is clear the BFX debt and then people will trust them more probably.

I do think they got hired wealthy traders to give the volume a boost but in the end they have proven to be not very carefull with customers funds which is why I think they will not get back to their old level. Especially since all of their customers lost money.

Since all of their customers lost money with them when the hack occurred they should reimburse them if they want to gain back the trust they lost.

People won't trust them more. I am quite sure that a lot people there are waiting for the moment they get their money back, so they can leave that exchange for ever. And at this point I am not even sure people will see their money back. One thing is sure, this exchange doesn't deserve a second chance because of the way they are "handling" this situation.

bitfine back on the track and leading again the market pair bitcoin USD
because bitfiex trusted , attack hack
but capital money member is save not lost still save
so member can trusted still trading in bitfinex

Even ten days later after making this thread there are still no lawsuits against the founders of Bitfinex which really surprises me. I have been waiting for some regulator in Hongkong to at least start questioning Bitfinex's business practices. At first they socialized their loss and made their customers pay for that loss by reducing their balances a certain percentage. Next was they issued tokens to their customers which is a highly questionable move.

Even if they got back on track I don't believe they're gonna enjoy the same market share they did before the hack. What's damaged is damaged forever in this business.

It will be hard to gain trust, who ever got burned and lost on this token trade will leave bitfinex for sure

At least I hope they learned their lessons about security and bitcoin storage, this is the crucial problem, how they solved it and will it last or we gona see some future insane hack, mtgox did huge damage to bitcoin and not only them but also to big number of users which now are not investing like they were planing

yes shocking news hard to believe, it is really a remarkable job by the bitfinex, but credit goes to the users of bitcoins and the investors who are still  believing on bitfinex.

People like familiarity, I don't see a problem with using bfx for trading but leaving coins on there is stupid if you're not trading regularly.

Well yeah your right better to be still safe dont live a huge amount of money inside of that site because anytime ihack can be still happen.. we will see more good news in few months about bitfinex..

probably its just bitfinex trading their own money

They don't have any money, right?
They just issued a big set of IOUs to cover the hack.  :P

It seems people still trust bitfinex. If i were the victim of bitfinex hack, i will not using bitfinex again. It's surprised bitfinex can rise again and back on track leading the market.

i think bitfinex will trying to get the member attention and trying to re-get trusted from their member after their been hacked, and if bitfinex is really do it with careful, then i think bitfinex deserve to get this chance and promised that bitfinex will never do it again and they will make sure that now they are really secure and safe for their member.

if its success, then i think member will be back with them again and put their bitcoin into them and start trading again like before.

That aside, an exchange doesn't even need money to trade with. They can just appoint a certain amount of (not existing) fiat and coins to certain accounts, and start manipulating their entire market. Just like MtGox did back in the days.

And how could they be trusted back again if their system has been breached already? I think people are smarter enough and don't want to be scammed/hacked their balance at them, so much better to avoid and find another exchangers who offers more good securities and can make sure to safeguard the traders fund, and i think bitfinnex and polo is the best site to go with for now on but bitfinnex? Nahh i just leave the thoughs to put again my money in their.

good to see that you think like that, but unfortunately there are quite some people that are still using that exchange. i would directly withdraw all my coins and move to a different exchange. certain people don't seem to learn from what happened. will they learn when it happens once again? i don't think so. people are either too lazy to move to a different place, or they really believe bitfinex has got their business back on track. not sure which is worse.

Bitfinex is currently in sixteenth place, representing less than 2% of BTC trade volume (https://bitcointalk.org/currencies/bitcoin/#markets).

Hardly "leading the market," OP.

They got a big hit with the hack and honestly I don't see why investors and tradings should ever put their trust back in bitfinex. What did they do? was it really better later then first?
And then there is the fact bitfinex is known for their manipulation, close the exchange when the prices go up or down.

Let's hope they are over.

Having a small stash of money there, becoming an even smaller stash of money I an say i am not using them anymore. Nor will I use them in the future.
Many people think the same and thus it seems their trust level is so low they can't recope I think.

they found some money after the hack, either borrowed it from a bank or maybe got an investor to put up the money.

in that case they could go on trading using the money they borrowed.

actually that bitfinex is a bucketshop all along making good money for the owners and taking it from the customers.  so (exclude the hack) it is a good business. but exchange needs liquidity to operate, so the owners will make the market if there are no customers.  this is common "business strategy" of all exchanges not only bitfinex.  no liquidity = no trades = no customers.  since trader always goes to the exchange with "most liquidity".

like a slot machine it always needs to "appear' busy even if no actual customers.  this is most likely situation.

as long as poeple want to deposit, they can keep it open. the running cost are not very high either.

case closed. nothing more to see on this, move along.

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

If people took their loss and withdraw all their balances from Bitfinex, then look at how quick this exchange will sink. But people apparently think Bitfinex did enough to come up with a "good plan" to pay people back. And that may be reason enough for them to stay trading there. And who knows, maybe Bitfinex is totally faking their trades and volumes to make it look like people are still trading there. We don't know that as it's all speculation.

Or one day, it will be 'hacked' again. They had the money to pay the users part of their loss because the 'hacked' money is IN THEIR POCKETS.

Whatever they do, i will not put anything there again. Bitfinex may never be able to stand as number 1 bitcoin exchange platform again.

my trust is done in bitfinex and i would not do trades their again and not planning to do any of those in the future,  bitfinnex is done and it could be hacked again since the they was newly attacked by hackers so to avoid some loss again its better for now to abandone that one and find another exchanger like ccex and bittrex,  and i believe the past traders wouldn't take a risk again to do trades in their.  so we better be carefull. for this since we. might gonna lose our money again if we risk and do some bad decision.

For sure , most of their  investors or  traders would  switch to another  exchanger since they have already some flaws  of their  security in the past which people would  hesitate to  put money again on their site but  there are really people who would still risk to  use it instead of  the hacking incident.