Sometimes I have a feeling there is some kind of insider manipulation involved in all these "stuck transactions". It's as if they will not respond to you while they inject the funds in the market and gain something from it. You might then hear from them when market conditions are not in your favour. That's if they even decide to respond or react to your support request tickets.
it might have to do with manipulation. but i worry that it has more to do with insolvency. there's something very fishy about the ridiculous sums of money poloniex apparently makes in fees, and these perpetual issues where people have missing withdrawals for three months. if this is due to the crypto bubble, why haven't they hired 10x staff in the past few months to deal with it? You must only invest or trade those assets which exceed your basic disposable income or holdings. If you invest everything, the risk is two-fold: 1) the exchange blocking your money and 2) the risk of your crypto assets devaluing over time while you wait for the blockage to be lifted.
don't remind me. i was sitting 100% fiat on btc-e with bids around $2400 (which would have worked out perfectly under other circumstances...), so even if i get something back, the price of bitcoin has nearly doubled since then.  |
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They answered one of my tickets (but not the one that I wanted them to reply to...) a few weeks later.
So, the good news is you have good hope to eventually recover your money, the bad news is it could take weeks given their response rate.
I guess the only option if you don't want to run into the ticket waiting game again is to avoid them altogether.
i'm really beginning to fear that we are headed for an exchange meltdown, but i don't know which exchange is most likely to fail. i've seen dozens of complaints in the past few days (and i haven't been looking for them) about missing ETH withdrawals from bitfinex. that's scary, because they are repeatedly publishing transactions to peoples' histories which don't exist, leading me to wonder how safe their automated ETH withdrawals are. lots of complaints about strange glitches in the interface (like the OP) too. to hear bitfinex tell it, they have a huge influx of customers and this is the reason for the massive slowdown in support responses. but that doesn't add up to me. they haven't had any fiat inflows into the exchange in many months - zero new money! meanwhile, $300 million in USDT has been created out of thin air, and the only explanation that doesn't equal money printing is that all that money left bitfinex for other exchanges. so there's no money in, and lots of money out, yet bitfinex is growing like mad, and this explains the support backlog? *does not compute* |
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I was thinking today how it would be unfair if they only issued token for USD value for the 45% as the money will be frozen and unable to be used to invest in something until it is back to it's current value but hearing that they are issuing individual tokens for each currency makes it perfectly fair now.
The only unfair thing now I see is people who were in fiat at the time but shouldn't have traded to fiat to begin with. Always believe in BTC.
you only look at it from a "hodler" perspective, which is odd -- why the hell would such a person keep coins on an exchange? if you "always believe in BTC" then you wouldn't be trading it against other coins, either. freezing the asset value at the time of the force majeure puts everyone in the same boat, rather than favoring crypto holders. People who were in fiat at the time were in fiat because they were probably half way through a short trade.
Given slightly different timing we would have been back in coin and better off than people who hadnt done the trade in the beggining.
damn straight. those of us holding USD at the time made the exact right call. all the other exchanges continued downwards. i had bids at $2350-2400 and they probably would have been hit if vinnik's dumb ass was vacationing in odessa instead of greece. |
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OmiseGo
Waves
Lisk
Stratis
EOS
TenX
BitShares
Steem
Tether
There are a lot of great Altcoins to invest on, my friend!
since when is tether an investment? you'd be investing only in third party exchange risk (bitfinex). if you really wanted to invest in bitfinex, you should have done it during the BFX token days.  but seriously, i'd be weary of holding tether in case something goes awry with bitfinex. maybe for holding short term through dumps or for transferring from exchange to exchange. regarding the OP, i'm looking more and more into proof-of-stake coins, thinking of buying into a few and staking/holding for the long term. the only one on my radar so far is DMD (diamonds). any other recommendations here? |
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All the current challenges facing Bitcoin as regards to Block size/Segwit are clear indication that Satoshi never anticipated a highly successful Bitcoin in a short time. this might be the case. but we don't know satoshi's true vision for scaling. he did, in one post, say that we could increase the block size if needed (and laid out a way to do so). but from reading his posts, i don't think he was thinking particularly hard about this aspect of the system. i think he hoped that technology would progress fast enough that scalability wouldn't be such an issue, but he didn't stick around to find out. as it is, even 1MB blocks are a threat to the decentralization that is supposed to underlie the system and allow for trustless transactions. |
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This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing, it will become difficult to move coins around.
i wouldn't say it's a disadvantage, per se. it's that BTC and fiat currency serve very different purposes, and rising transaction fees make this increasingly clear. decentralization has high costs in terms of efficiency and security. (banks and other fiat-interfacing entities can sidestep a lot of BTC's inefficiencies by relying on centralization.) so, the fees that we are paying ensure that our payments get processed -- no matter what they are for, or who they are paying. that's the beauty of decentralization, and you don't get that freedom with banks. but it comes with a cost. the miners need to be paid. for now, the security is still being subsidized by block subsidy, but over time, fees need to rise more and more. |
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Blockchain.info will be adding BCH too but on a limited scale starting at the end of the year according to their blog. Maybe next time they will start adding other proven cryptocurrencies too like LTC.
I think this is the direction they are heading in. Like Coinbase and Bitstamp, they realized that gaining a foothold in the altcoin markets during this early stage is simply too important to neglect. Like Bitcoin, the time-tested and liquid coins like ETH and LTC will be sticking around for a long time. So, I imagine that this ETH rollout has been many months in the making. It makes sense from that perspective that it would take months for them to roll out BCH, too. At their scale, supporting a major coin is no small endeavor. In time, I'm sure they'll be one of the go-to web wallets for LTC as well. but there is still a huge difference! services like coinbase are not just wallets, they are like banks. you give up control over your funds and they can use it as they like. for example they can use the bitcoin you deposit to trade themselves on other markets (just like a bank). also they offer other stuff such as trading these altcoins which they make money from the fees. blockchain.info doesn't do any of these! they don't control the private keys so they don't have access to the funds you deposit. they don't get any fees either for the services they provide. this rises the question: what is the foothold they are trying to gain? blockchain.info does offer "trading" in a sense. you can buy and sell BTC (and now it seems ETH as well) through their wallet. they may not control your private keys, but that doesn't mean using them as a wallet is secure. you don't control the software pushing your transactions, which means you could lose coins in MITM attacks. you are trusting that the service isn't compromised. the foothold they are trying to gain is market share for wallet usage, which translates to industry relevance. you can see that they are transitioning into the consulting space in an attempt to capitalize on this: Thanks to our market dominance and our wealth of experience with mass deployment, Blockchain is bringing the value of distributed-ledger technology to bear for leading global institutions.
Just as we've done for millions of individuals with our personal wallet, Blockchain empowers global institutions with the same control, security and ease of use—and fundamentally changes the way they do business. |
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What can this 'Bitcoin Cash mining' problem do to the value of BTC?  it really depends whether longer term investor interest develops for BCH. if it's being purely manipulated and bitmain (and friends) are just buying into everyone's dumps, then they will just be left holding the bag, and the problem will sort itself out. if, however, they are successful and maintain status as a top 3 coin competing with BTC, they could really split prospective BTC investors, cutting down on the money flowing into BTC. if this happens, there is also the slight possibility that BCH would overtake BTC entirely. that seems pretty unlikely, though. To all the miners - please leave that Bitcoin Cash! Focus only on Bitcoin - the future!  Don't worry, they will come back to Bitcoin, with the BCC difficulty adjustment but the emergency difficulty algorithm adjusts it back down very quickly. isn't it something like 6 blocks? whereas adjusting difficulty upwards is just like BTC (~2 weeks). that means that this cycle could continue for a while, until BCH buy pressure is totally exhausted. the EDA can basically cause hyperinflation for BCH under these circumstances. |
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Miners will still get transaction fees.
right, but for that to matter, we need a functioning fee market (based on limited capacity). there is no guarantee of mass adoption, so to maintain bitcoin as a highly secure network (vis-a-vis proof of work), we need high fees on layer 1. otherwise, miners will be shutting down en masse as we approach supply being fully mined out, which opens all sorts of attack vectors as hash rate plummets. massive block reorganizations could be the norm in that case. this is why i'm thankful that the core devs have the foresight to deal with this issue now by bringing us closer to layer 2 solutions that will mitigate this push for cheaper fees. |
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Hi Guys,
In terms of transactions fees - I just sent a large transaction on the Bitcoin Cash network.
Transaction happened almost instantaneously, fee was only $0.02.
The same amount on the now activated Segwit Bitcoin network. Fee is = $6.90
This really concerns me. I really do hope Segwit resolves this issue soon. It could see a large amount people shift to BCC in a short amount of time.
segwit won't resolve this overnight, and more importantly, it can't solve the issue of spam. highly secured, distributed storage (in addition to transfer of value) comes with a cost, and demand is high. unfortunately, a lot of users have this mentality where they are like impatient kids in the back seat of the car screaming, "are we there yet?!" it's sensible that people are being cautious about moving their inputs to segwit addresses. major wallet providers like electrum haven't released their segwit-compatible wallet yet. it will take time for segwit's capacity increase to be felt. more importantly, the one-time capacity increase isn't a fix for this congestion. we need layer 2 solutions like sidechains and LN for that. |
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I am looking forward to having a ledger soon anyway with all the hypes. By the way, if you are looking for a long time storage and looking to have lots of bitcoin, I will advise a cold storage as most people already adviced here. Hardware or paper wallets are good for that. Desktop wallets aren't bad too though but remember that those desktop wallets (most especially the light ones) are as safe as the PC you are installing them on. So be careful of malwares and don't just expose them if you are planning on sticking to one.
very good point. but the issue here is offline wallets, which i take to mean cold storage. you shouldn't be setting up cold storage on a computer connected to the internet! i definitely made some mistakes early on with altcoin wallets and malware years ago. when it comes to cold storage, i only use an offline/air-gapped machine that has no other purpose than to generate seeds and install/export cold wallets. BTC is just too precious to deal with any other way! |
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thanks for creating this list. i'll drop some notes as they come to mind.
gemini is a good option as far as safe, regulated US exchanges go. they have ACH and wire options. not sure what the situation is for international customers.
i would remove the USD wire and USD express wire options for bitfinex. bitfinex might not belong on this list at all anymore. they haven't been able to offer working fiat withdrawals (in any currency) since late march or early april of this year. it's actually pretty worrisome. they keep adding altcoin markets, and now they are opening an erc20 token exchange (ethfinex), since they can't seem to address the fiat issue. and the market doesn't seem to care as long as bitcoin and altcoins are booming. but the issue looms....
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the title says it all, i wanted to learn some advice from you guys, how you guys actually manage trading if you already had with that such amounts or more
definitely not. going all-in on any altcoin is mismanaging risk. it's "putting all your eggs in one basket" so to speak, in the context of high risk and highly speculative assets. so the smartest thing to do is spread around that risk and diversify. i'd rather put 0.1 BTC into 10 different coins (or maybe into 5 coins, with amounts weighted based on my view of their fundamentals and speculative value). as it is, i'm actively invested in about a dozen coins, most of them for the long term (> one year, due to capital gains taxes). |
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As you read the article, it was a phishing website where a new site is created as a copy of the old one to scam people.
Basically what it did was it logged in the fake website owner to the real bittrex, how ?
Let me explain.
1- Enter fake site
2- enter email and pass
3- fake site logs into real bittrex and enters the data you typed exactly
4- real site sends you 2fa code to make sure it's you
5- you only see the fake site
6- fake site asks you for the code and you enter it
7- fake site goes to real site and enters that code.
Congratulations, fake site owner is in your account and can withdraw all your coins easily.
Always be cautious and check the url more than once. Not only in exchanges but generally in anything that involves your money/assets/identity.
in this scenario, can they successfully withdraw coins, though? i've been on many exchanges, and there is always another 2FA entry (and often, email confirmation) upon withdrawal request. a TOTP code is only good once, and one code is not nearly enough for them to start figuring out how to crack the 2FA token itself. so i think this plan needs some additional sophistication to pull off. if an account gets hacked with 2FA enabled, my first assumption is that the site may have had a database leak in which both passwords (or weak hashes of passwords) and 2FA tokens were compromised. |
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I got burned at first. But then something happened. As I built up my understanding of good
trading signals with the help of my backtesting program, I tested different pairs with low
leverage and size to feel what it is to do it manually. I ended finding a good opportunity and
transformed for a short time my balance from 0.5 to 2 BTC in 3 days flat. I worked day and night
on improving my skill until they decided to do several things :
- They almost tripled the spread, which made my timed entries and exits much harder.
- They wiped my account of my gained 1.5 BTC when I tried to withdraw 1 BTC.
- They blocked me on their chat interface so I am not allowed to complain about them stealing the bitcoins.
- The support never answered for a week despite I gave them tips to improve their service.
- When I choosed URGENT level, I got answer but they act as if nothing happened
The log of my withdrawal request never appeared on my profile. Only now does it work correctly.
Obviously it's only 0.01 BTC so they don't need to go and steal it.
- To this day, I have no answer why they don't send notifications when they either increase the spread fee
and when they decide to prevent you access to chat. I didn't behave incorrectly whatsoever on this chat.
So there you have it folks. If you are a bit smarter than usual and find a good opportunity, people at
"whaleclub.co" will fuck you hard in the ass even though you worked with their web interface for 20 hours a day,
4 days in a row. I needed that money to pay rent for the rest of the year. It's kind of depressing because
it's a website I really liked and wanted to say good things about it, even recommend it to others.
Now I will have to go on social media, or even make a video about what they did to me because too much
is too much. I gave so much money from my transactions already but they have to go and just steal my gainst too.
thanks for posting this. over the past several months, i've seen several other reports of this, mostly on reddit. apparently their MO is to target profitable traders for punitive treatment and even voided trades. the main complaint is that people have their profits straight up taken by management, with no reasonable explanation. their CMO comes off really shady, and always says that they can't discuss things over reddit because they could be seen as soliciting US customers and other total BS like that. i'd stay very far away from this site. you've apparently got some skills at trading. take them to a broker/exchange that isn't a bucket shop! |
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Next update will be at the end of the month that there will be another month delay while they properly wash our stolen BTC/Altcoins into their pockets.... errr....
"We're Working on it..."
decent possibility. i think there's also a decent possibility that they intended (or still do) to relaunch at the end of the month. but think about the logistics of it; re-launching a reliable service at their scale with contingencies and remote servers in place if another takedown occurred? shuffling around shell companies, setting up datacenter services in such a politically delicate circumstance....none of this is easy or fast. they said they would be releasing a FAQ in the next update, meaning all details must be set in place. we will see... |
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Activation.
lol. it looks like block explorers are having some trouble keeping up with the upgrade. surprisingly, blockchain.info is leading the pack in successfully dealing with segwit: https://twitter.com/petertoddbtc/status/900541884564742146fortunately, the network seems to be functioning properly and any soft fork activation FUD has now been surpassed. no sign of any chain splits that i can see. onwards and upwards! now we just need to deal with this pesky bitcoin cash matter, and well, the segwit2x matter, and we can be done with it.  We will never be "done with it." Once you have been here for a while and you have gone throught hardfork attempts since Bitcoin XT, you understand that the attempts to hardfork bitcoin into something else will never go away, it is a constant attack that you have to deal with. At the end of the day it all comes down to the users. If people don't support other chains with their money, it would be a non issue. If people don't take side to dump the attacking chain and gamble around, then we'll have 40 different Bitcoins by 2020. that's very true..... i never meant "done with it" permanently. just a period without so much drama (we do get them from time to time). i've been around since 2013, so i'm not a total stranger to all this manipulation. the hard forkers have actually gotten more effective with their manipulation, because it seems much easier to pump some money into the market to hold the price up, then use hash power after the fact to establish the "longest chain." winning the battle of public perception was much harder when it was all theoretical and "winner takes all." in a network split scenario, they probably feel they can win over time. from the looks of it, there will definitely be more than one or two coins vying for the name of "bitcoin" in the coming months and years. |
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Now that SegWit is activated let's watch how does it work with the transactions, and their fees. Hope it benefits BTC and it's users, so that the BTC can increase more in value.
SegWit makes sure that block sizes will decrease significantly in size, and from there it's assumed that the fees will go down significantly as well. I however would like to see it happen first, before I am going to believe it. huh? it makes it possible for blocks to increase to 4MB at most (in the worst case scenario). that's a pretty significant increase. by addressing transaction malleability (and therefore making a large scale lightning network possible) we can maybe prevent future block size increases from being necessary. but they won't be decreasing. Large benefit now that SegWit has been activated, is that the implementation of the Lightning Network is now closer than it ever was. This will ultimately result in even lower fees. i'm excited for LN. i'm a little worried about the logistics of transaction routing, but even a hub-and-spoke model would be useful, since it's all trustless. if we just took everyone's bitpay and coinbase transactions offchain and into payment channels, that would be a huge optimization right there. |
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I think a lot of wallet providers are going to run Beta testing on new SegWit wallets, before they permanently switch over to test it's stability and security. It would be better for them to do this, to make sure SegWit performs as promised. i think the vast majority of testing has been done. segwit has been running on testnet for many months now. but it will still take wallet providers some days to roll out the beta and/or final releases now that it's active on mainnet. People might be given the choice between SegWit enabled wallets and old Legacy wallets. i imagine so. this is not so unlike the upgrade to P2SH or multi-sig bitcoin addresses. legacy addresses and transactions are fully compatible with the network so there's no reason why users should be unable to use them. I am curious to see how SegWit improvements will work and what performance increase there will be. ^smile^
it'll sure be interesting to see everyone's claims tested regarding how fast everyone will upgrade. according to jeff garzik, it'll take years for most of the ecosystem to upgrade.... |
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The no. of transactions are almost the same as non-Segwit block. I thought that transactions will double by the time we have Segwit. Another funny thing is Antpool mined an empty block right after it. How can that be with the mempool having 30,000 unconfirmed transactions? https://blockchain.info/block-height/481828they do spy mining, so they always mine some empty blocks. no surprise. they are concerned only about their mining income, not providing the supposedly much-needed capacity that big blocks will provide. Anybody knows how to send a Segwit BTC transaction ? Do we need to have a specific wallet for this?
i'd wait a bit before risking anything. i'm pretty sure you can send segwit transactions using the latest version of core, but i'm not home to check. the TREZOR Beta Wallet will have segwit enabled in the next couple days. |
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