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For those who are bringing up processing times for their btc withdrawals, please see this page for our requirements for auto-withdrawal processing: https://www.bitfinex.com/withdraw/greenlineIf you meet these security requirements your withdrawals will be processed automatically and therefor massively cut down on the time it takes to process the withdrawal. If you don't, we must manually review your withdrawal and ensure that everything is in order and that the account doesn't appear to be compromised. If you guys have any questions just let me know. |
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You're not reading my replies. First, you based all your points on the basis that you have to have an MSB, I showed you one way that's not true. Now you're assuming that the only two ways are obtaining MSBs or getting a bank charter. The thing you're missing is that there are multiple (as in more than two) ways of being compliant with fincen, as I said in my first and second comment (apparently you glossed over both) not just MSB or a banking charter. Your entire argument is based on flawed assumptions.
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Please provide the proof for your words: "As such we have addressed this issue [in] a manner so that we remain compliant without going state by state getting MSB's" I guess you ask too many questions, lol. You should read the last part as something like "we have written an answer to the CFTC (or whatever) allegations so we deem ourselves fully compliant to whatever claims they might further bring forward without doing anything else"... Though I would like to hear something more coherent as reply myself No, I have no problem answering his questions. I just don't frequent this forum, I spend most of my time on /r/bitcoinmarkets, if you message or mention me there I'll get back much faster. I've responded to him btw if you'd like to read it. Let me know if you have any questions. I thought BFX accepts US clients already. Did they not accept US clients before?
Yes, we did, and we still do  |
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hey, what about this: RELEASE: PR7380-16 June 2, 2016 CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchanthttp://www.cftc.gov/PressRoom/PressReleases/pr7380-16Is Finex accepting US clients? That's dangerous. We do accept US clients and have settled any alleged violations with the CFTC, made the changes required to become compliant and US customers can deposit fiat, trade on margin, and withdraw fiat same as before. Don't mind me asking, but can you prove that you are "Director of Community & Product Dev. @Bitfinex.com" ? Sure, how would you like me to go about that? You can look at my history and i think it's pretty clear that I am who I say I am. But i'll post a comment in https://www.reddit.com/r/BitcoinMarkets/comments/4mlujc/daily_discussion_sunday_june_05_2016/ with my verified reddit account. Acorrding to Fincen, you need to be a licensed MSB in each state from USA if you want to accept US clients; This isn't entirely true, there are different ways you can go about it. For example, itBit doesn't have an MSB for every state but are able to accept US customers because they have a bank charter. As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's. could you please provide that "bank charter" for your company? the product you offer(in your case, products) has to be owned by the bank to get the 50 States MSB exemption. also, if you get a trust charter in New York it doesn mean you qualify for all the STATES (and you accept clients from all USA). The laws that permit banks to open branches in other states through nationwide reciprocity don't fit the operational model of "Bitcoin exchanger" or even a trust charter. Example :Louisiana, requires an out-of-state bank to be a "federally insured depository" institution to qualify for a licensing exemption. Also, you operate in EU where a financial license is mandatory as well. Do you have a such license for European Union (as...Circle) ? On your website, it's saying "a) where you are a U.S. Person, BFXNA Inc. BFXNA = a BVI company BVI is a country who requires a financial license for your kind of activity. I did not find your company along BVI Financial Services Commission's list. Why? How can you have a bank charter in USA when your company is registered in BVI? If you own a trust/bank charter in USA you are require by the banking laws to provide this information on your website(in a visible place). I don't wanna go in details and to mention that you don't have any physical address on your website. A bank charter without office  Please provide the proof for your words: "As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's"I never said we had a bank charter, you just jumped to that conclusion without reading the next sentence. I said that there is more than one way to approach regulation as opposed to you stating that the only way to be compliant is going state by state getting MSBs and then gave you an example. As for asking for proof about being compliant, go read the settlement and order from the CFTC, then go read our ToS, and you can decide for yourself if you think we've done enough to be compliant. For a good idea of the context of the settlement and a bigger view I would suggest reading this: http://www.coindesk.com/cftc-bitfinex-enforcement-bitcoin-exchanges/If you'd like to have a civil conversation i'm more than happy to, if you just want to ramble without actually reading what I write go for it, but I'm not going to waste my time responding. |
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hey, what about this: RELEASE: PR7380-16 June 2, 2016 CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchanthttp://www.cftc.gov/PressRoom/PressReleases/pr7380-16Is Finex accepting US clients? That's dangerous. We do accept US clients and have settled any alleged violations with the CFTC, made the changes required to become compliant and US customers can deposit fiat, trade on margin, and withdraw fiat same as before. Don't mind me asking, but can you prove that you are "Director of Community & Product Dev. @Bitfinex.com" ? Sure, how would you like me to go about that? You can look at my history and i think it's pretty clear that I am who I say I am. But i'll post a comment in https://www.reddit.com/r/BitcoinMarkets/comments/4mlujc/daily_discussion_sunday_june_05_2016/ with my verified reddit account. Acorrding to Fincen, you need to be a licensed MSB in each state from USA if you want to accept US clients; This isn't entirely true, there are different ways you can go about it. For example, itBit doesn't have an MSB for every state but are able to accept US customers because they have a bank charter. As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's. |
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hey, what about this: RELEASE: PR7380-16 June 2, 2016 CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchanthttp://www.cftc.gov/PressRoom/PressReleases/pr7380-16Is Finex accepting US clients? That's dangerous. We do accept US clients and have settled any alleged violations with the CFTC, made the changes required to become compliant and US customers can deposit fiat, trade on margin, and withdraw fiat same as before. |
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What is up with their withdrawal ? I bought bitcoin at 540 and wanted to withdraw it to bitstamp and made a withdrawal request. It's been 1:30 hours and the price risen to 545 and now fall to 533 and the withdrawal is still not processed.
Depending on many factors we may need to manually review your withdrawal. However, if you need auto-withdrawal processing please take a look at the requirements listed on the withdrawal page. Click the conditions for auto-withdrawal processing link and a modal will open listing the requirements. Fulfill those and your withdrawals will generally be processed within a few minutes. If you have any questions feel free to let me know. I work for bitfinex and am more than happy to help. |
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Will you not publish your office address for physical visits? Want to know more about the company iFinex except that it is located in HK. Also, get to know its board of directors etc..
We do not have an office for open visits in HK. However, if you'd like to meet some people from the company in HK, I can look into arranging that for you. |
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Yes, we are currently experiencing downtime. We're investigating it right now and I'll be sure to keep this thread updated when I know more. Sorry for the inconvenience and the interruption.
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Bitfinex Update:
Some of you might have noticed that you're starting to receive emails from Bitfinex upon logging in. This is just another security setting that we have enabled. It shows you the IP and includes a link to freeze your account if you think that it is a suspicious login.
If you want to turn these notifications off, go to your Security Settings[1] page and click the "Disable login notification" checkbox.
We will be adding some more security settings soon and I'll be sure to keep everyone updated.
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So how can I verify the reserves backing my account balance anyways with your new multisig backend (which address should I check)? Or did I misunderstand something?
You can verify your reserves on BitGo, you can see what it looks like here: https://twitter.com/masonic_tweets/status/610933556928495616 |
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I understand the security issues after the recent breach and all, but your bitcoin withdrawal system is totally unreliable and unusable for me at the moment: random 1-6 hours delays really aren't acceptable, I'll have to switch to other exchanges and that's a shame cause I liked you ui and other instruments.
The hack doesn't have an effect on this besides the fact that we're now using a multi-sig hot wallet. Furthermore most users are withdrawing without issue. Can you please send me a pm with your username so that I can look into it. Also please make sure that you are promptly confirming your withdrawals from the email that we send you (these may be getting sent to your spam folder, so please check there as well). |
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Hello everyone,
Yesterday I didn't received the swap interest payment, did anyone else noticed this? or it was only me?
Hello everyone,
Yesterday I didn't received the swap interest payment, did anyone else noticed this? or it was only me?
Same here ( BTC-Swap Payment). There indeed seems to be a problem with the swap payment system. While I received my swaps at the regular time some of them looked a little too low in value. I'm not sure though as the past days have been quite turbulent with the spike to 0.3 and 0.18. A user on reddit has opened up a similar thread concerning this topic: http://www.reddit.com/r/BitcoinMarkets/comments/3b93yr/bitfinex_underpaying_swap_payments/While I was sceptical at first I ultimately think he's not bullshitting although I don't believe BFX is intentionally scamming. Like 20 minutes ago there was a second, very low swap credited on my account so it seems there actually is a problem. Please investigate at least the last 10 days, BFX and be open about it. I just checked my accounts. 1 account recieved payment, but the number seems way to low (25% lower than I would expect), and the other accounts did not get a swap payment at all. Good to know they are aware of the problem, hopefully they will reveiw the last several days to make sure all payments have been made accurately. Looking at all of my own tracking, it appears at first glance that the 26th - 28th had weird results for me.  The issue with swap payments not going out everyday should have already been fixed. If you are still encountering issues, please let me know. The issue with underpaid swaps will take a little bit more time to look in to, but we should have an update for everyone within 48 hours. Sorry for the delay. |
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Hello everyone,
Yesterday I didn't received the swap interest payment, did anyone else noticed this? or it was only me?
Same here ( BTC-Swap Payment). There indeed seems to be a problem with the swap payment system. While I received my swaps at the regular time some of them looked a little too low in value. I'm not sure though as the past days have been quite turbulent with the spike to 0.3 and 0.18. A user on reddit has opened up a similar thread concerning this topic: http://www.reddit.com/r/BitcoinMarkets/comments/3b93yr/bitfinex_underpaying_swap_payments/While I was sceptical at first I ultimately think he's not bullshitting although I don't believe BFX is intentionally scamming. Like 20 minutes ago there was a second, very low swap credited on my account so it seems there actually is a problem. Please investigate at least the last 10 days, BFX and be open about it. We're aware that some users are having issues and are working towards fixing it. I'll post an update in this thread when it's fixed. Sorry for the inconvenience. |
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Looks like its been a little over a year since the last Bitfinex Audit. Any word if/when another will be happening?
We will have an announcement in regard to this in the coming weeks. It will be a pretty big announcement and we're looking forward to it and hearing what the community thinks. Hi Zane, I looked at the Bitfinex LTC/USD chart and I am disturbed to see that is no speed bumps for LTC. To be clear, I am referring to the sudden drop on April 9th, about 4:25 AM EST. The price dropped from about $1.57 to about $0.98 or a -37.57% drop in the span of ~2-5 minutes. Why speed bumps for BTC and not LTC? Makes me lose a bit of confidence in the platform seeing that and I don't even trade LTC (nor am I bullish on either BTC or LTC right now to consider a long). Are there still speed bumps for BTC/USD? In the event it doesn't function as intended, does that mean Bitfinex will roll back trades? Thank you for your time In the google hangout interview this week, they said there's still a mechanism that throttles orders which would move the market by more than 10% but that this throttle wasnt needed in months (link: https://www.youtube.com/watch?v=Mk4Dl4aaBuo , was somewhere in the 2nd half iirc ). But that was about BTC/USD. They didnt say anything about LTC in that regard. Thank you for the link! I just don't think it is much of a stretch to include the same throttling for all coins on the platform if they want to avoid having their lenders actually lose money on some serious cascading margin calls. We don't want to have to throttle orders and only do so in extreme cases. We haven't throttled any orders since before January. I think the important thing to remember here is that the market moving quickly in one direction alone doesn't warrant intervention via throttling. What I was referring to in the video linked above was that we would only throttle an order(as in singular) that would move the makret ~10%. If the market takes a quick downturn and there aren't any of these types of orders, we won't step in to throttle anything as the market is collectively moving downwards, not one extreme order. If there's anything you would like me to clarify, please let me know. |
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I've been having fairly consistent problems accessing bitfinex for a while now, is this true for everyone?
Yes me too. But If you wait the URL is becoming like this "bitfinex.com.com" it's weird. Access it from a search engine (Google or whatever). I will mail their support. I have the same weird error where it changes to "bitfinex.com.com" However I have bookmarked Bitfinex now and when I try to access the website using the bookmark it works flawlessly. We are aware of this issue and have fixed it. If you typed in bitfinex.com it would redirect to bitfinex.com.com. If you typed in https://www.bitfinex.com there weren't any issues, that's probably why the bookmark wasn't having any issues. |
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Hi! Does bitfinex provide public historical data? I found documentation page https://www.bitfinex.com/pages/api but it seems timestamp parameter for GET /trades/:symbol request does not work at all. Yes we do. Can you send me a pm with more information about the call you were using and what the response was? I'll look into it. |
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Looks like its been a little over a year since the last Bitfinex Audit. Any word if/when another will be happening?
We will have an announcement in regard to this in the coming weeks. It will be a pretty big announcement and we're looking forward to it and hearing what the community thinks. |
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Hey Everyone,
My apologies for not being very active in this thread. I'll be sure to comment more and help out with any problems anyone is having. I recognize that we need to do a better job of interacting with the community and i'll be making strides to that over the coming days. As always, you can send me a pm with any questions/concerns/feedback you have, or just to chat, and I'll get back to you as soon as possible.
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Hey Everyone,
I'd just like to introduce myself to the community. I just recently joined the BitFinex team as Director of Community & Product Development, and I look forward to interacting with all of you to build the best trading platform available. I'll be here to listen to your suggestions and help with any issues you might encounter. Feel free to pm me at anytime and I'll get back to you as soon as possible.
Cheers,
Zane Tackett
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