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Title: Why is bitfinex so large? Post by: econo on February 14, 2015, 01:04:39 PM Bitfinex is now the largest USD exchange and has processed 15M$ in the last 24 hours. They charge something like the standard 0.20%, that means they are pulling 20M$ annualized revenue, of which probably 50% are profits. Now, I remember using Bitfinex a year ago and it was full of bugs. The operator seemed to be a complete amateur (at least he did not lose any clients funds so far). Why is this exchange so large? Because of margin trading? It boggles my mind how little exchange innovate and how much money they pull in.
Title: Re: Why is bitfinex so large? Post by: abercrombie on February 15, 2015, 12:51:04 AM Bitfinex & BTC-e are the only major USD exchanges over a year old to have:
· never been hacked (bitstamp, gox) · never seized customer wallets (bitstamp kyc compliance) · strong volume Title: Re: Why is bitfinex so large? Post by: BitCoinNutJob on February 15, 2015, 06:31:58 AM Bitfinex is now the largest USD exchange and has processed 15M$ in the last 24 hours. They charge something like the standard 0.20%, that means they are pulling 20M$ annualized revenue, of which probably 50% are profits. Now, I remember using Bitfinex a year ago and it was full of bugs. The operator seemed to be a complete amateur (at least he did not lose any clients funds so far). Why is this exchange so large? Because of margin trading? It boggles my mind how little exchange innovate and how much money they pull in. They have kept innovating vs someone like bitstamp who haven't improved 1 bit and also are the most expensive site to trade on. Title: Re: Why is bitfinex so large? Post by: kingscrown on February 15, 2015, 06:40:48 AM imop bitfixnex and btce are the bestest
Title: Re: Why is bitfinex so large? Post by: Muhammed Zakir on February 15, 2015, 07:29:35 AM They have kept innovating vs someone like bitstamp who haven't improved 1 bit and also are the most expensive site to trade on. Bitstamp has partnered with BitGo and it is harder to hack now. imop bitfixnex and btce are the bestest +1. I like the word 'bestest'. ;D -MZ Title: Re: Why is bitfinex so large? Post by: TheKoziTwo on February 15, 2015, 01:24:47 PM Bitfinex & BTC-e are the only major USD exchanges over a year old to have: BTC-e was hacked once (liberty reserve api) and Bitfinex launched their site with leaked source code (from bitcoinica hack)· never been hacked (bitstamp, gox) · never seized customer wallets (bitstamp kyc compliance) · strong volume Title: Re: Why is bitfinex so large? Post by: fish731 on February 15, 2015, 06:58:21 PM They have kept innovating vs someone like bitstamp who haven't improved 1 bit and also are the most expensive site to trade on. Bitstamp has partnered with BitGo and it is harder to hack now. ....... Does bitfnex use bitgo multisig for its cold wallet now? What about the hot wallet, does that use bitgo multisig too? Title: Re: Why is bitfinex so large? Post by: Muhammed Zakir on February 16, 2015, 10:15:02 AM Does bitfnex use bitgo multisig for its cold wallet now? I don't think so. What about the hot wallet, does that use bitgo multisig too? http://media.coindesk.com/2014/05/BitGomultisigconsumer.jpg -MZ Title: Re: Why is bitfinex so large? Post by: redsn0w on February 16, 2015, 10:18:14 AM An example of various exchange that are using multiSig are : theRocktrading.com , bitstamp.net e bit-x.com (I don't know other exchange).
Title: Re: Why is bitfinex so large? Post by: Muhammed Zakir on February 16, 2015, 10:28:14 AM An example of various exchange that are using multiSig are : theRocktrading.com , bitstamp.net e bit-x.com (I don't know other exchange). Do you know public address of any of these? -MZ Title: Re: Why is bitfinex so large? Post by: redsn0w on February 16, 2015, 10:34:16 AM An example of various exchange that are using multiSig are : theRocktrading.com , bitstamp.net e bit-x.com (I don't know other exchange). Do you know public address of any of these? -MZ I meant the standard multisig for the various personal bitcoin deposit addresses, I don't know their personal cold wallet's address. Maybe walletexplorer.com can help us, but at the moment it seems down. |
