601
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Economy / Exchanges / Re: Bitfinex HACKED - funds stolen !
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on: September 13, 2016, 09:23:49 AM
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The BFX tokens are baked by the markets faith in bitfinex's ability to raise sufficient money via equity sales to repay their customers.
Good luck. Their volume is abysmal now. Liquidity is gone. They repaid the 1% out of funds that they retained for operations, not capital inflow. What kind of outside investor would touch them now with their legal exposure? Socializing losses of bailed assets and securitizing debts--issuing them to US customers? Good luck, Giancarlo, Rafael and company.... you're going to need it where you're going..... Bitfinex did and is doing a lot of illegal things. They run a financial business without license, they stole funds, they issued securities, they have fake volumes and many others... Still, no lawsuit.
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605
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Economy / Exchanges / Re: Bitfinex HACKED - funds stolen !
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on: September 02, 2016, 09:57:26 AM
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Giving everyone shares in Bitfinex to cover their losses is actually a great idea, if you are Bitfinex directors and existing shareholders.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
Yes, this is true, but this is not the main problem. The problem is the lack of transparency. It doesn't help out to own a piece of something that you can't get information about. There are BIG questions unanswered, like: How the hack occured? And promoting something that you don't trust, for your own benefit, is morally wrong. If we don't know how the hack occured, we don't know that it will not happen again. So, until we have the full story about this "hack", I maintain my position of not trusting Bitfinex. what is amazing is that their clients didn't sue them it's unbelievable. I know people who lost over 40% from their funds. Yes, they got those shit tokens but they had to sell them for 0.30. Bitfinex is a scam and illegal company which is continuing its shit business without any problem. 70 MIL USD disappeared and it seems that it's OK ! LOL
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606
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Economy / Exchanges / Re: Bitfinex owners - stolen funds and ponzi schemes
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on: August 25, 2016, 11:43:26 AM
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Bitfinex did not report anything to the Hong Kong police. They lied. There is no investigation from any authority yet.
You can call yourself the police from HK and they will confirm you that.
Well, that's no surprise. Bitfinex is interested in brushing this under the rug, not introducing more law enforcement agencies. They have said that the FBI and some European law enforcement agencies are investigating -- if you want to believe that. I am more curious about the FBI or US Attorney's investigations into Bitfinex's actions. You can't serve US customers then flout US law. That will get your site shut down and bank accounts seized. US Attorney's investigations will start once few US clients will make complaints that Bitfinex has stolen 35% from their money and that Bitfinex is issuing illegal securities like those shit tokens. I thought the Bitfinex token is just a token, it is not a security. But the US law might think the situation differently. a company cannot issue tokens just like that. that means ...issuing securities and Bitfinex did it out of any financial law...
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607
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Bitcoin / Bitcoin Discussion / Re: BFX Tokens Issued, Bitfinex decides on Generalized Losses
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on: August 24, 2016, 09:56:48 AM
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your opinion has common sense but this doesn't apply to Bitfinex because they don't have.
Bitfinex will break the law again with a shit idea as usual. Anyway, they issued illegal securities(tokens) when they are not even license for a money transmitter business.....so, everything that Bitfinex is doing, it's outlaw and they will lose any lawsuit that it may come(I am sure it will come shortly).
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609
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Economy / Exchanges / Re: Is Cex.io a legit exchange service?
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on: August 20, 2016, 08:57:20 AM
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being legit means to be "according to law"According to the laws from all the countries, any company who is making financial operations like cex.io, it MUST be financial licensed, must have a license which require compliance with many regulations. CEX.io registered in United Kingdom(still in EU) and it must be licensed according to the EU financial laws; see Circle.com and Bitstamp which they are already. So, Cex.io is not a legit company. It's like Bitfinex, BTC-e and others
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610
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Economy / Exchanges / Re: Bitfinex has not contacted customers and informed them about the hack
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on: August 19, 2016, 11:02:25 PM
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Bitcoin involves smart criminals, dumb Libertarians, brain washed, kids and people of ambiguous intellect taking advantage of these. Bitfinex owners are crooks and not only from now. They always did a lot of shitty things like inside trading, price manipulation and others. Why? Because there not regulated by anybody(illegal broker/forex) and because their clients did not care about where they deposit the funds. oh. YES ! Bitfinex appointed their friends from Ledger Labs to make a financial audit even Ledger Labs is a software company For those who do not know, an audit company or auditor must be certified by a gov authority to do that. The outside, independent auditor is engaged to render an opinion on whether a company’s financial statements are presented fairly, in all material respects, in accordance with financial reporting framework. The audit provides users such as lenders and investors with an enhanced degree of confidence in the financial statements. So the Bitfinex's friends are "verifying" the Bitfinex's orderbooks, accounting LOL http://ledgerlabs.com/team/What's amazing is that Bitfinex scam continues the biz like nothing has happened. The clients are happy that they "only" lost 37% No lawsuit, no nothing..,
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611
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Bitcoin / Bitcoin Discussion / Re: [Bitfinex Hacked] So , learned the lesson ?
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on: August 18, 2016, 10:17:08 AM
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So, I've never actually been to the Bitfinex web site (or used it) I found another pool STILL has links to them on their web site, so I clicked and had a look. Wow are they delusional still saying this on the web site: https://www.bitfinex.com/security_policySecurity of user information and funds is our first priority. Every detail is analyzed to avoid security holes. We pride ourselves on being the most secure Bitcoin exchange.
Security is their priority ? any Security expert should know that almost everything online is hackable. The fact that they didn't use Cold storage to store most of the funds means that they don't really give a damn. That was certainly quite weird. Their wallet system was a hot mess. So I guess that Bitfinex themselves is actually all a scam, since th web site (still) says this: Why is this method superior to the traditional pooled funds method of cold storage?
The use of this model, where each customer has a separate set of keys and wallets, allows for a much greater level of granularity at which multi-institutional security can be provided. Whilst in the past BitGo would have to treat a pooled wallet as a single unit, per-customer policies can now be enforced. Further, since we now enforce multi-institutional second factor authentication (Bitfinex will be the first factor and BitGo the second factor), attackers are required to compromise both institutions before getting funds.
i.e. both BitGo and Bitfinex had to BOTH be compromised according to their (current) web site. If that above quote is false, then it's still a scam them making that statement. That's an interesting point. Think it's an inside job just like the Shapeshift hack? of course, it is
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612
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Economy / Exchanges / Re: OKcoin - illegal business/money laundering - Judge rules
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on: August 18, 2016, 10:15:58 AM
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If OkCoin is in fact insolvent (I have no idea one way or another if they are), then this fact will likely become apparent in the coming weeks, as their customers attempt to withdraw.
Seems doubtful, as this story never really hit the press. Doesn't seem people made much of a fuss over it. Whether OkCoin is solvent has always been a major question for traders. We have long suspected that OkCoin trades against their customers, and the former CTO confirmed this in a blog a year or so ago. I believe he said that the exchange's accounts used un-backed (unlimited) money as well. He also said the proof-of-reserves audit done a couple years ago was faked. Still, no one seems to care.... sigh. the BTC "press" is greased and it depends on these exchangers. they are pumping the money for "advertising" and that's why you can hardly see negative things about them.
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613
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Economy / Exchanges / Re: Bitfinex HACKED - funds stolen !
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on: August 18, 2016, 10:10:47 AM
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Have they released technicals of the hack? Like how they got hacked...
They avoid any questions asking about technicals of the hack by saying there is an ongoing investigation, and they cannot comment until it's completed. They keep pasting this quote all over reddit in reply to any awkward questions. we cannot release information about an ongoing investigation. After the ongoing investigation there will probably be a court case, and they will again say they cannot comment until it's completed. there is NO ongoing investigation. it's just another shit from Bitfinex crooks.
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614
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Economy / Exchanges / Re: Bitfinex HACKED - funds stolen !
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on: August 17, 2016, 05:51:06 PM
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Bitfinex "hired" a start up software company, ledgerlabs.com, to make the financial audit. what a fraud....! another one made by Bitfinex!!!! How can the Bitfinex's clients to allow that? Also, ledgerlabs.com is their friend. A financial auditor must be certified, authorized. A software company cannot ever do a financial audit.
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615
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Economy / Exchanges / Re: OKcoin - illegal business/money laundering - Judge rules
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on: August 16, 2016, 01:19:27 PM
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This is not surprising. I suggest checking the volume created by LTC. What is the basis of all that volume? LTC is mostly considered "dead" by the community. There is no active development, no projects built on top, no nothing and yet it has maintained a high amount of volume. Some have suggested that it is the coin of choice by the Chinese money launderers.
true...BUT the main BTC media doesnt' say a word. is it not strange? does mainstream media talk about every US tax evasion/FIAT money launder court case.. nope does mainstream media talk about every fed reserve audit.. nope does mainstream media talk about many things about the truth of fiat.. nope does mainstream media explain the bait and switch tactics of the fed that have screwed everyone.. nope most of the time it ends up in a private documentary that may be interesting and insightful enough to appear on a documentary channel some day the BTC market is small and I am sure the BTC media can cover subjects like "Chinese money launderers are using LTC" or Bitfinex owners do not provide any evidence about hack, IF they want( if they are not greased) ... Regarding to your questions : "you" want to be something different than all the aboves, right?
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616
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Bitcoin / Bitcoin Discussion / Re: Unlicensed Exchangers
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on: August 16, 2016, 01:13:44 PM
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Even if the exchanger got licensed and then they closed or ran away, how can we sue or chase them, our account all is anonymous and we dont have any identity to prove it
a licensed exchanger is insured(a bond is requested by the authorities before the license is granted), it has bank accounts, it must have a real office, an accountant, an external auditor and many other things. they are not and they cannot be anonymous. now, try to visit Bitfinex office or BTC-e office
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617
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Economy / Exchanges / Re: OKcoin - illegal business/money laundering - Judge rules
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on: August 16, 2016, 12:12:43 PM
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This is not surprising. I suggest checking the volume created by LTC. What is the basis of all that volume? LTC is mostly considered "dead" by the community. There is no active development, no projects built on top, no nothing and yet it has maintained a high amount of volume. Some have suggested that it is the coin of choice by the Chinese money launderers.
true...BUT the main BTC media doesnt' say a word. is it not strange?
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619
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Bitcoin / Bitcoin Discussion / Re: Unlicensed Exchangers
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on: August 16, 2016, 12:01:51 PM
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Because they don`t have choice.Bitcoin is still illegal in some countries. I don`t know is it possible for a cryptocurrency exchange platform to get a license. see Coinbase, Gemini, ItBit, Circle. all these got licenses, so it's possible if you really want to run a legit business Depends on the country where the exchanger is running it's operation. See those exchangers that you have listed all run in the US, where bitcoin is officially considered a legal currency and laws apply to it which is why they are required to have license. BTC is not considered a legal currency in any country. It is considered a commodity or asset. Also, the same laws operate in almost all the countries. Once you are running an exchange/broker/forex business (accepting fiat or sending fiat) you must be licensed. USA is enforcing the laws much better than other countries, that's why some exchangers registered in US have applied for financial licenses. The rest of them are operating illegally.
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620
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Economy / Exchanges / Re: OKcoin - illegal business/money laundering - Judge rules
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on: August 15, 2016, 06:24:23 PM
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"More, the judge said that Okcoin favorize the criminals for laundering money." Money laundering? How is this possible if it is with bitcoin? They have been around ever since I started using bitcoin so why now are they just seeing it as an illegal exchange? they received money(fiat) and the send money(fiat) in exchange for Bitcoin. It's so simple.
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