I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.
i take your point..thus the no frigging idea choice was added it can apply to all the above.... (its not like i really know how to setup a correct poll don't ya know)  They have confirimed on reddit they lost just over 119 thousand Bitcoin "They?" I have read a couple of reddit threads that have that theory, but did Bitfinex confirm or admit to the situation? I am not trying to negate the potential validity of some investigations done by insightful technical folks, but we really need some kind of confirmation and/or rendition by Bitfinex - and maybe it is true that the Reddit folks are right on the money, but until then, I still consider the matter to be a bit speculative with some potential holes regarding the extent of money moved by whom and who controls the private keys and whether any of those moved coins are recoverable (or the private keys). This isn't "folks on reddit". This is Zane Tackett https://www.reddit.com/user/zanetackett, Bitfinex's community relations guy. This is as straight from the horse's mouth as you'll get. It is confirmed in the just released WSJ article as well. Time to accept it. [Where is the: They won't cover, and will fold, option? or is that just implied?] No one is trying to deny anything, and yep those links that you provided seem to confirm that Bitfinex folks are admitting to the nearly 120k BTC loss, which hopefully also means that at some point in the very near future they are going to be able to provide an update to their status page including an admission to the amount of coins that they lost and maybe other relevant and detailed information that will help, instead of making us have to surf through various reddit threads to figure out what is going on. Regarding the poll, I do now have enough information to answer it, which I did, and I see the poll results. There sure is a lot pessimism regarding Bitfinex's ability to cover the losses... Surely, that is a lot of value (i mean the bitcoins) to admit to losing in such a short period of time,,, so yeah, understandable pessimism. |
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I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.
i take your point..thus the no frigging idea choice was added it can apply to all the above.... (its not like i really know how to setup a correct poll don't ya know) They have confirimed on reddit they lost just over 119 thousand Bitcoin "They?" I have read a couple of reddit threads that have that theory, but did Bitfinex confirm or admit to the situation? I am not trying to negate the potential validity of some investigations done by insightful technical folks, but we really need some kind of confirmation and/or rendition by Bitfinex - and maybe it is true that the Reddit folks are right on the money, but until then, I still consider the matter to be a bit speculative with some potential holes regarding the extent of money moved by whom and who controls the private keys and whether any of those moved coins are recoverable (or the private keys). |
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I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.
i take your point..thus the no frigging idea choice was added it can apply to all the above.... (its not like i really know how to setup a correct poll don't ya know) I understand that a lot of folks are worried about bitfinex for their own coins and just the impact on the bitcoin infrastructure and image, and maybe I can be a bit too much of a nit picker.... but I am really thinking that we don't have enough information.. even though Bitfinex's actions kind of assume a worse case scenario, yet it is not for sure a given that either they lost as much as people are speculating or that they may not have some evidence regarding how they might be able to get them back... anyway, I do think that if they make some kind of representation regarding what happened and what is their plan, we will be in a better position to assess the situation, even if they are less than forthright in their depiction of the situation. |
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I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.
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Still way too early to call.
I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct.
At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted.
Dude, our grammatically challenged friend pumpy just showed you the scope of the problem. It's 119,756 BTC, some of that probably yours. You think there is a chance of running an admitted fractional reserve exchange? Please. They need to be unwound now, and that's gonna be messy, it could be a years long process if Gox is any guide. I think that I already addressed these issues, no, and aren't we getting a bit repetitive? Sure, we have some information sources speculating about what could be going on at bitfinex, and we also need to hear more from bitfinex about what they are asserting and to figure out the extent that they are being frank or if the rumors and speculation points are overly exaggerated. Yeah, we gotta take some of what they say with a grain of salt, but going on a whole bunch of speculations regarding the worst case scenarios and aftermath remedies seems to be quite a bit premature.. even though you could be correct that the situation is as bad or worse than expected... so yeah, we gotta prepare for continued volatility that could go in either direction.. neither direction is guaranteed at this point and based on the largely speculative information currently available. |
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[edited out]
go back a page or 2, i ask you nicely how many coins u lose, i then post again with a reddit link to you, giving u more info from bitfinex zane...and as for my comment about u listening to me, it was only 2days ago when i said we break $600 but u as usual think u were KORect( duno why u chose that spelling btw,lol ) and u know yourself about when i told u to buy the other coin and u chose not too. Any i know u always got an itch on yer ass to reply to every single comment here even when your not involved so even if i tell you not to reply to anything i say ...you always will,lol now go ...buy ETH lololol am I NOT KORect?  also dont think you realise i was first to post here about bitfinex hack! Look Pumpy.. you are getting caught up in a whole lot of irrelevance regarding my personal situation and attempts at unnecessary and unimportant self-congratulations... and besides you are getting so off topic that I am worried that I may spend all of this time considering and composing to you, and then I merely get deleted for being off topic by responding to your off-topicness. I'm not going get into any discussions regarding the number of my coins potentially at issue at bitfinex when there seems to be little to no purpose for such.... but I will concede to disclose that whatever I had involved with bitfinex was less than 10% of my total bitcoin holdings.... and my holdings there is really not that relevant to our discussion regarding attempting to figure out what is going on. Yes, I saw your post about some of the reddit thread information regarding some of the investigation of the situation, and some related threads. Now, stop being so sensitive, self-absorbed, easily distracted by to not be named coins and my choices of language. I gotta use this one again: but I will supplement with this one:  |
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[edited out]
Think you somehow need to know your bitgo address? where funds are settled daily? Estimating Finex's weekly volume at around BTC134k so about BTC6,968k/yr traded on finex. At ~ 0.25%fee on each trade Finex makes BTC17.5k/yr in fees. Depending how much BTC they held, and how much they have in assets, probably the best thing would be to try to run it as a fractional reserve with 50% in finexcoins. I'm not sure from where you are getting the average of .25% fees, but in the regular exchange, I had written down maker fees as .1% and taker fees as .2%.. (so .3% total on both sides of the trade). and then fees scale down for volume, and there are the other services too.... but o.k... rough estimate of 17.5k per year in fees. |
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[edited out]
Still way too early to call. I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct. At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted. i'm trying to find out how much BTC they held in total i've found nothing . I learnt that they they held 102.5% of customer deposits and have the best security ever, with 99.5% in "cold storage." lol. I think that a lot of us are in a state of credulity regarding what appears to be the severity of the loss in this situation, and then especially the way that Bitfinex went down today, the nature of their notice and their so far failure to clarify the situation with more specifics. It surely would be nice if they truly did exercise any level of security close to that with their systems .. but, yeah, i think a lot of us are having considerable doubts about whether those are valid security claims... and then access to cold storage would be through only a limited number of Bitfinex agents.. and security does not always prevent insider jobs, but then again, there could be some ability to trace insider jobs, too. |
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jj should listen to me more,lol
Jj and the others shills just do the play by play after it happens ...no foresight IMO Two more goofballs with lame patronizing monday morning quarterbacking attempts.  wtf, im fed up tryin to be nice to u... If you had been trying to be nice, then I would like to say ditto to your statement as well. I had been trying to be nice, too, and then you get especially severe in your patronizing and bullshit comments during market downturns and during times that are trying for a lot of bitcoin HODLers. This symbol is what I think of your recent behavior: |
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each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved. its worth a look if you have a address with them but... Also how can you justify that some users get their balances marked as "stolen", while others don't? We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me. I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen.... I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too. Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors). they lost too much, i dont see them relaunching ever. i'm not being pesimitic... this will go to court. 1-2 years later you'll get back some % of your BTC/Fiat. i doubt anyone will come out of it with 100% money back while other lose 100% Still way too early to call. I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct. At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted. |
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each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved. its worth a look if you have a address with them but... Also how can you justify that some users get their balances marked as "stolen", while others don't? We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me. I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen.... I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too. Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors). |
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I'm betting down to somewhere around 420$ USD in the short term. I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.
How do ya like me now JJG I'm not sure how to take folks who want to claim credit for some unexpected event, without even proclaiming anything in the neighborhood of such an extraneous event... and therefore, you don't get credit for the occurrence of some extraneous event when you did not say anything at all about such. You are like throwing a dart with the lights off and you happened to hit the target. So fucking what? Oh c'mon! Give me credit for a random pick that just happened to work out. You'd be impressed if I swished the hoop from half court blindfolded wouldn't you?  Sure... if you concede that it is childish fun and luck, then I have no problem giving you credit for some of the prediction. I also have no problem having fun and engaging in silly games, even when there is economic value at stake. On the other hand, if you are trying to proclaim that you possess some kind of skill or foresight in regards to this bitcoin price prediction matter in the way that you actually carried out the prediction and your lack of specifics, then that's another story.  |
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jj should listen to me more,lol
Jj and the others shills just do the play by play after it happens ...no foresight IMO Two more goofballs with lame patronizing monday morning quarterbacking attempts. |
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@JJG: I thought this might be the SFYL spark that got you to hodl your own BTC in your own wallet, guess not.  JJG's seriously mixed emotions: On one hand, his coin got stolen; on the other, BTC is tanking, so he didn't lose as much Both of you guys are goofie in your attempt to troll and to stalk other people, merely to attempt to make fun of other people without providing any meaningful or interesting or even genuine details regarding your own BTC positions. Don't understand. For every Bitcoin you sent to finex (to sell behind our backs, like the traitor you are), you lost ~$70 less, now that BTC price is ~$70 lower. Doesn't that make you feel a teeny bit better? I mean, imagine if your coins are fucking gone like they are, but, at the same time, Bitcoin also skyrocketed to $10,000 a coin. Wouldn't it hurt more? Sure it would! That's why you gotta count your blessings while the sun shines, JJG! You are talking gobbledy gook, Underoos, I mean lambie. |
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@ JayJuanGee I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.
That makes your earlier comments even more ironic because they seem to be somewhat out of touch with your actual practice and actions. These days, it certainly is not difficult to make various efforts to attempt to align your BTC holdings in accordance with your view of their future price performance. I know that a lot of folks are really disinclined to sell any of their BTC and so they only buy upon dips and continue to HODL, but if they are like you, and if they really believe that there is a decent chance that BTC prices will dip into the $400s, then they should sell at least a portion of their BTC holdings in order to kind of align their investment with their views. The alignment does not need to be precise, but at least a ballparking of such. If you are only HODLing BTC, and you have no other plans in terms of the future price dip that you expect, then aren't you feeling kind of uncomfortable with the current allocations of your BTC holdings, or do you enjoy living in such high levels of discordance in your life? I'm not trying to be judgmental of you, because my perception of the whole situation, as i outlined above, seems really strange to me. I see it as a much bigger risk to play around with it on exchanges than being cold-storaged. See what I mean? Why do folks feel some kind of urge to say "I told you so" and we are still attempting to figure out what is going on and what has happened... ? Yeah, so far the theory is that bitfiinex may have lost 125k coins, and they will not be able to pay back customers.... maybe so maybe customers may have lost all of their funds on bitfinex... but we still do not know whether that is the outcome.... Let's see before anyone starts proclaiming I told you so, and even if there has been a loss of customer coins, that does not mean that the customers did not appropriately assume and/or weight these risks for their own situation. |
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I'm betting down to somewhere around 420$ USD in the short term. I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.
How do ya like me now JJG I'm not sure how to take folks who want to claim credit for some unexpected event, without even proclaiming anything in the neighborhood of such an extraneous event... and therefore, you don't get credit for the occurrence of some extraneous event when you did not say anything at all about such. You are like throwing a dart with the lights off and you happened to hit the target. So fucking what? |
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JJG, tell me you weren't hodling on an exchange?!  I'd suspect that BitFinex is insolvent, though I definitely don't know for sure. Still, I recommend withdrawing everything as soon as possible. Wow... here starts the patronizing bullshit.. or just a continuation... BMB gonna say.. "oh, I am only saying this because I care." What bullshit patronizing. |
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@JJG: I thought this might be the SFYL spark that got you to hodl your own BTC in your own wallet, guess not. JJG's seriously mixed emotions: On one hand, his coin got stolen; on the other, BTC is tanking, so he didn't lose as much Both of you guys are goofie in your attempt to troll and to stalk other people, merely to attempt to make fun of other people without providing any meaningful or interesting or even genuine details regarding your own BTC positions. |
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[edited out]
It was more ment as a joke then a assertion on facts. I have no idea what is going on in Finex right now.. Why is it that it is just Finex all the fing time with there security breaches? But i guess this is really make it or brake it for them this time. If it indeed turns out that they have lost a good portion of the customers BTC "wallets" then they are pretty much going into foreclosure. Best case scenario i guess is that they have limited the damage as much as possible and we are taking about small losses or even a small fraction.. What makes this shit worse for me i the fact that my transaction got its first 4 confirms at 12.07 and now it is 21.24, the statement went public about one hour ago and support assured me that they were going to be credited 2 hours ago.. That means basicly that they have had this issue for atleast 6 hours now and i wonder how much the hacker stole before they started to realise what the f is going on ? And i am not spreading any FUD, these are facts. More or less I agree with your factual representations above, and surely there is nothing wrong with a bit of joking for the sake of emphasis... but you know that when there is already a pretty problematic situation, exaggerations can contribute to disinformation and prop up the other FUD spreading that is already taking place... Anyhow, we largely agree about a lot of this, and we just gotta keep monitoring the evolving situation... and possibly, plan for the worst and hope for the best. |
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Within about an hour or so before the shut down, I had just sent some BTC there too, and it did not show up in my bitfinex account balance, either.
Just one of the costs of doing business, gotta figure that in. You don't have your bitcoins unless you hold the private key. "The life of a Bitcoin trader is always intense." *that stuff people were saying about not panicking unless we go below 590? I hope they meant 490... 1) Even though you seem to be an idiot troll, I will respond to a few of your points, which are still valid in spite of your apparent trolling attempts [  ] 2) Yes, cost of doing business in bitcoin, and probably many other ventures that are in their development stages, is that sometimes there are going to be some costs and even unexpected costs and even potentially some malicious behaviors. [  ] Did we learn anything about using exchanges as Beetcoin banks today JJG? Also, why were you sending coins to BFX during this move?? I thought your strategy was to be buying more coins with filthy fiat during expected downturns like this, no? I'm not even sure why I am responding to your nonsense, but I suppose I should not let your nonsense stand. 1) "Did we learn anything about using exchanges as Beetcoin banks today JJG?" You are just being patronizing here, and really not worthy of any additional response. 2) "Also, why were you sending coins to BFX during this move?? I thought your strategy was to be buying more coins with filthy fiat during expected downturns like this, no?" Yes.. correct is that I generally buy BTC as the price goes down and sell BTC as the price goes up. that is correct. But sometimes news events can change my general practice, and this could be one of those situations... at least in part. When I was moving coins to Bitfinex, that was before this particular news had occurred. My transferring of coins in the normal course of business does not mean that I was either buying or selling those coins, and in this case, I was merely transferring some of my coins between accounts. |
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