It's game over for them... you cannot make that many mistakes and then make people share the losses even if they were not hacked. The moment when they open for business, people will be pulling their coins, and they will bankrupt within the next week after that. I hope some of the other services can learn something from their mistakes... DO NOT use hot wallets to store your customers coins, and beef up your security, because one breach can take you down...  Or.... institute a 5 BTC (or whatever arbitrary number) withdrawal limit per 24 hour period. This would stop the bleeding...but keep some customers at bay... Bitfinex is insolvent, and they are hoping to recoup losses by playing games with their customers. I suspect lots of lawsuits to follow in the coming months and years. |
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What many are forgetting is that up until now Bitfinex has only talked.
Talk is cheap.
Believe what you see and can verify, not what they tell you.
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So customers can take losses like an investor of bitfinex (even though they are just customers) but can't benefit from corporate profits of bitfinex.
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So, 3 coins, but they all share the same private/public key? So, you fund one, you're not funding the coin, but the "set of coins".  Please explain why you did this. I will definitely not be funding them now. What are my options for 3 different private addresses (not just public)? As I said, it was most certainly not intentional. Which is why if anyone is unhappy about the 1 address per set, I can work something out with them. The coins were supposed to have 1 address for EACH coin, not each set. I obviously can not sell them individually now which hugely stinks for me. But, I guess its not the end of the world. Yeah the other issue is if the set is sold and say the owner wants to auction off two out of the three coins, they could potentially steal the Bitcoin loaded on the set after selling them as "loaded". Indeed a very weird predicament. |
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... that was the shakeout. Hit $465 at the bottom.
My guess is that was the bottom. That was the last stop before...MOON  |
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consider it a gift of cheaper prices...
this bull run is far from over...yeah perhaps another 3-6 months to build another ascending triangle but...with how the gloal financial world is going....it's going to go higher just on the fundamentals of how fucked up fiat currencies are to begin with.
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Long term bullish picture looks good. Need wait until december. I like these arcs so far. However need some more downside...  Masterluc, how are you counting your green i? I can't see 5 waves that adhere to the EW rules in there. Either that, or green ii goes below the start of green i, which makes it invalid? This is my count, a bit more bullish medium to long-term, less bullish in the very long-term.  The previous MTGOX data might help if it were added in here to attain your points from a larger time frame. |
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What basis is there to predict a head and shoulders pattern (bearish one) at this point and on a shorter time frame? Whomever made this chart is likely speaking too soon to determine such a pattern. Wait 2-4 months first. |
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Long term bullish picture looks good. Need wait until december. I like these arcs so far. However need some more downside... Is exactly what I've been drawing for a couple days now....GIANT HEAD AND SHOULDERS PATTERN. Not sure if the "more downside" is needed to validate such a pattern though. But who knows...perhaps there needs to be more people shaken out of the market before the bull can continue on. |
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We are currently in an ongoing process of restoring limited functionality in a secure environment, with full functionality coming afterwards in progressive stages. The first step is bringing the site online and allowing users to login and view the state of their accounts. Note that initially trading, deposits, withdrawals, and other core site functionality will be disabled.
To accommodate the relaunch, all withdrawals, open orders, and open funding offers will be canceled. Furthermore, in order to compute losses for relevant parties, settlement of all financed positions will occur in all accounts. Margin positions for all pairs will be settled and closed using the following prices, representing the midpoint of the bid and ask on August 2, 2016 at 18:00:00 UTC:
BTCUSD: 604.06000000
ETHUSD: 10.19050000
ETHBTC: 0.01689900
ETCUSD: 2.83700000
ETCBTC: 0.00471495
LTCUSD: 3.75180000
LTCBTC: 0.00621295
Further announcements about the next steps of the relaunch will be posted as progress is made. All significant changes to feature availability will be announced in advance. We will strive to keep you as informed as we can.
The Bitfinex Team
Would love to see my account. I should get some eth coin back since some was idol in my deposit address. My funds were not very high in the first place. Not claiming I know the future, but these statements remind me of previous hacks/thefts where there was supposed to be liquidation of funds then that never materialized. |
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I love the following quote as it shows he knows 100% what he is talking about: Another obvious reason they've been insolvent for a long time is, a guy I know... Perhaps the rest of his post is pretty accurate, can't stand that statement of "I know a guy" or "a guy I know"....what on the interwebz?? |
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We are currently in an ongoing process of restoring limited functionality in a secure environment, with full functionality coming afterwards in progressive stages. The first step is bringing the site online and allowing users to login and view the state of their accounts. Note that initially trading, deposits, withdrawals, and other core site functionality will be disabled.
To accommodate the relaunch, all withdrawals, open orders, and open funding offers will be canceled. Furthermore, in order to compute losses for relevant parties, settlement of all financed positions will occur in all accounts. Margin positions for all pairs will be settled and closed using the following prices, representing the midpoint of the bid and ask on August 2, 2016 at 18:00:00 UTC:
BTCUSD: 604.06000000
ETHUSD: 10.19050000
ETHBTC: 0.01689900
ETCUSD: 2.83700000
ETCBTC: 0.00471495
LTCUSD: 3.75180000
LTCBTC: 0.00621295
Further announcements about the next steps of the relaunch will be posted as progress is made. All significant changes to feature availability will be announced in advance. We will strive to keep you as informed as we can.
The Bitfinex Team
I think this is why it is getting back to its price. At least they are doing something. I thought it will be a hit and run. But the trust cannot be taken back. There is a stain now. What exactly of substance are they doing differently than say MtGox? Until actions materialize it is all talk. |
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Terrible situation. It seems that there are no safe places these days.
Wrong. Cold storage (offline wallets) = SAFE |
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I can see Govt's getting involved to "regulate" say Poloniex to try to stop this from happening.
I would lay odds that TLAs have all the ingress/egress data for plx right now. It's just a question of whether they want sources & methods hang-out, which strictly depends on the size of the prize. Laundering through plx, or any centralized exchange (or "supernode") is double plus un- clever. Exchanges are for exchange, and do not have holy water. In retrospect perhaps it would be very difficult to "wash" such a stash with XMR. Maybe over time it could be done but if there is any form of chain analysis going on at the exchange level it could be very problematic for the theif. Definitely not clever. |
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so does the btc hacker now move into xmr?
Meaning poloniex? No, meaning the hacker now goes btc -> monero -> btc to launder his coins. This could affect xmr's price. This will have future implications of existing exchanges should this happen. I can see Govt's getting involved to "regulate" say Poloniex to try to stop this from happening. Problem is that there are other services that exist to facilitate this method of washing coins, and if those ever got shut down there would be some other avenue to do so. It's a matter of time before the usage of monero in that manner is taken advantage of. Right now monero is not really on the radar, at least not yet. Edit: If polo or an exchange tracking the hacked coins decided to block those coins from being deposited and converted to say XMR, those implications would be interesting to see unfold. I would expect a hacker to deposit in different places utilizing shapeshift.io and xmr.to. I reckon that it would be difficult to block all avenues to "wash" coins from a hack in this manner. But then again it is something to watch for in the future given the technology that XMR has let out of the genie bottle. but this all remains to be seen. Don't Shapeshift and XMR.TO have smallish transaction limits? It would be impractical to get 100K BTC through those channels, I would think. Doesn't Polo allow small exchange accounts to be created with certain daily limits? Perhaps the hacker could open several hundred accounts with random email addresses while attempting to remain anonymous. Move a small portion of the 100k to each account and exchange for XMR or whatever and withdraw..and repeat with the next account...eventually the could convert a good portion if they wanted to. The problem would be is if Polo is watching stolen addresses of BTC and doing chainanalysis of these thefts. |
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...
This will have future implications of existing exchanges should this happen.
I can see Govt's getting involved to "regulate" say Poloniex to try to stop this from happening.
Problem is that there are other services that exist to facilitate this method of washing coins, and if those ever got shut down there would be some other avenue to do so.
It's a matter of time before the usage of monero in that manner is taken advantage of.
Right now monero is not really on the radar, at least not yet.
Edit: If polo or an exchange tracking the hacked coins decided to block those coins from being deposited and converted to say XMR, those implications would be interesting to see unfold. I would expect a hacker to deposit in different places utilizing shapeshift.io and xmr.to.
I reckon that it would be difficult to block all avenues to "wash" coins from a hack in this manner. But then again it is something to watch for in the future given the technology that XMR has let out of the genie bottle.
but this all remains to be seen.
The already do. The issue with money laundering on such a large scale is not whether the governments can prevent it, they can. It is can they effectively punish a bank that engages in money laundering without destabilizing the whole debt based fiat banking system? The US government decided not to pursue criminal charges against HSBC for allowing terrorists and drug dealers to launder millions of dollars after George Osborne and the UK banking regulator intervened to warn that prosecuting Britain’s biggest bank could lead to a “global financial disaster”. https://www.theguardian.com/business/2016/jul/11/hsbc-us-money-laundering-george-osborne-report With crypto currency such a Monero this could work since punishing a rouge player would not destabilize the rest of the financial system since it would not be debt based. Edit: MTGox did not kill Bitcoin neither will BitFinex. The more important question I was referring to is has Poloniex put into place (or shapeshift etc) triggers to disallow conversion of "stolen" BTC to XMR? You make a good point that keeping the status quo for larger institutions engaging in money laundering is in the best interest of TPTB. Smaller banks/businesses would not benefit from such an action as they would not shake the power structure to its knees if they were to close down. |
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August 3rd, 2016: Auction for ONE 1 oz Silver 1 BTC coin with Gold BTC   *****Carefully read this auction post in its entirety before bidding*****Auction ends at or around August 9th, 2016 Hawaiian Standard TimeThere is no specific hour this auction to end. Get your bid in early. I will announce on or around that day when the auction has ended.Minimum bid will start at 0.1BTC. Bidding will be done in 0.001BTC increments. Unsecure shipping (USPS Priority Mail): US - $10 International - $25 Secure Shipping (USPS Registered Mail): US - $30 International - $50 For either option buyer agrees to not hold myself or LEALANA, LLC liable if your coins are lost/stolen/damaged while in transit. Registered mail is just much more secure than regular priority. Choose your level of risk appetite. Shipping costs will be added to the winning bid after the auction.(ID will be required upon delivery for pickup) for both domestic U.S. and international customers. Bitcoin is the only accepted form of payment for this auction. Coins for this auction will ship out by August 23rd, 2016.You are bidding for the following unfunded/buyer funded coins:
ONE 1 oz 999 Fine Silver 1 BTC coin with Gold BTCBy bidding on this auction you are agreeing to the terms listed at: http://lealana.com/tac.phpThe winner can choose how many coins they want to pre fund. All coins not pre funded before it ships will be marked "BUYER FUNDED" with a laser mark to each coin's hologram.
THESE COINS ARE BUYER FUNDED. The winner by bidding on this auction will accept the risks involved with shipping funded coins through USPS registered mail. The coins will be valued at the price paid plus the bitcoin that is loaded on to them. Winner agrees to hold LEALANA, LLC. and myself innocent of any losses while in transit (in the small event the coin goes missing/stolen while in transit).
Any customs/VAT taxes or fees that are placed on the package while going through customs for international customers are the responsibility of the buyer/winner to pay.Please bid in the following format (no extra precision decimals): CORRECT FORMAT
"I bid 1.07 BTC" INCORRECT FORMAT
"I bid 1.074839282"Should bids come in at the last minute I will allow for the auction to extended by 15 minute increments between bids. Once the 15 minutes is up and no bidding is done after the deadline specified ABOVE, the auction will end. To be clear on the precision of the auction times in 15 minute increments we are talking about the actual MINUTE and not the seconds that are posted on the forum timestamp. Payment address: <will be pgp signed via PM to winner of auction>Payment is due within 72 hours from the time the auction ends. Should the winner not honor their bid and not provide payment in that 72 period the next highest bidder will be required to honor their bid. By bidding in this auction thread you agree to this stipulation. In other words, please make sure you are able to honor your bid(s) in a timely manner before you bid.I RESERVE THE RIGHT TO INVALIDATE A BID FROM NEWBIE USERS. USUALLY THIS WILL BE THE CASE IF I HAVE NEVER DONE BUSINESS WITH YOU BEFORE.AUCTION WINNER INFORMATION SUBMISSION:
*If you win, please send me (IN ONE PRIVATE MESSAGE) immediately ALL of the following information as it is needed to ship you your coins correctly/promptly:
1. The # of coins you want to prefund. Which types and how many.
2. FULL Shipping information:
FIRST AND LAST NAME
STREET ADDRESS & BUILDING/SUITE #
CITY
STATE
COUNTRY
POSTAL CODE
PHONE NUMBER
EMAIL ADDRESS
3. If you are outside of the US and want to insure prefunded coins please send me PM for details.
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August 3rd, 2016: Auction for FORTY LEALANA 0.1 BTC Brass Coins   *****Carefully read this auction post in its entirety before bidding*****Auction ends at or around August 8th, 2016 Hawaiian Standard TimeThere is no specific hour this auction to end. Get your bid in early. I will announce on or around that day when the auction has ended.Minimum bid will start at 0.00BTC. Bidding will be done in 0.001BTC increments. Unsecure shipping (USPS Priority Mail): US - $10 International - $25 Secure Shipping (USPS Registered Mail): US - $30 International - $50 For either option buyer agrees to not hold myself or LEALANA, LLC liable if your coins are lost/stolen/damaged while in transit. Registered mail is just much more secure than regular priority. Choose your level of risk appetite. Shipping costs will be added to the winning bid after the auction.(ID will be required upon delivery for pickup) for both domestic U.S. and international customers. Bitcoin is the only accepted form of payment for this auction. Coins for this auction will ship out by August 23rd, 2016.You are bidding for the following unfunded/buyer funded coins:
FORTY 2013 LEALANA 0.1 BTC Brass Coins (Green Addresses)By bidding on this auction you are agreeing to the terms listed at: http://lealana.com/tac.phpThe winner can choose how many coins they want to pre fund. All coins not pre funded before it ships will be marked "BUYER FUNDED" with a laser mark to each coin's hologram.
THESE COINS ARE BUYER FUNDED. The winner by bidding on this auction will accept the risks involved with shipping funded coins through USPS registered mail. The coins will be valued at the price paid plus the bitcoin that is loaded on to them. Winner agrees to hold LEALANA, LLC. and myself innocent of any losses while in transit (in the small event the coin goes missing/stolen while in transit).
Any customs/VAT taxes or fees that are placed on the package while going through customs for international customers are the responsibility of the buyer/winner to pay.Please bid in the following format (no extra precision decimals): CORRECT FORMAT
"I bid 1.07 BTC" INCORRECT FORMAT
"I bid 1.074839282"Payment address: <will be sent to auction winner in PGP format>Payment is due within 72 hours from the time the auction ends. Should the winner not honor their bid and not provide payment in that 72 period the next highest bidder will be required to honor their bid. By bidding in this auction thread you agree to this stipulation. In other words, please make sure you are able to honor your bid(s) in a timely manner before you bid.I RESERVE THE RIGHT TO INVALIDATE A BID FROM NEWBIE USERS. USUALLY THIS WILL BE THE CASE IF I HAVE NEVER DONE BUSINESS WITH YOU BEFORE.AUCTION WINNER INFORMATION SUBMISSION:
*If you win, please send me (IN ONE PRIVATE MESSAGE) immediately ALL of the following information as it is needed to ship you your coins correctly/promptly:
1. The # of coins you want to prefund. Which types and how many.
2. FULL Shipping information:
FIRST AND LAST NAME
STREET ADDRESS & BUILDING/SUITE #
CITY
STATE
COUNTRY
POSTAL CODE
PHONE NUMBER
EMAIL ADDRESS
3. If you are outside of the US and want to insure prefunded coins please send me PM for details.
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