Bitcoin Forum
November 12, 2024, 02:37:46 PM *
News: Check out the artwork 1Dq created to commemorate this forum's 15th anniversary
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Since you can't deposit/withdraw fiat on Bitfinex -How does it control the price  (Read 1621 times)
adaseb (OP)
Legendary
*
Offline Offline

Activity: 3878
Merit: 1733


View Profile
November 30, 2015, 02:37:48 AM
 #1

I am just wondering why Bitfinex is the BTC price leader compared to the other exchanges when its the only exchange where you can't deposit/withdraw fiat.

Its seems the exchange is zero-sum. So if some whale wants to buy 1000 BTC, he needs to deposit some BTC he already owns and buy it on margin?

Or does this exchange simply follow the other Chinese and smaller exchanges ?

gentlemand
Legendary
*
Offline Offline

Activity: 2590
Merit: 3015


Welt Am Draht


View Profile
November 30, 2015, 02:42:14 AM
 #2

Where does it say you can't withdraw or deposit fiat?

It's the only big exchange where you don't need verification if you're only depositing or withdrawing coins as far as I know so perhaps you're getting it mixed up.
Fiat_Hodler
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
November 30, 2015, 09:34:29 AM
 #3

you can deposit and withdraw fiat.
zby
Legendary
*
Offline Offline

Activity: 1592
Merit: 1001


View Profile
November 30, 2015, 10:12:50 AM
 #4

I think the OP confused btc-e with bitfinex.
1Referee
Legendary
*
Offline Offline

Activity: 2170
Merit: 1427


View Profile
November 30, 2015, 10:20:08 AM
 #5

I think the OP confused btc-e with bitfinex.

OP is not fully awake I guess. BTC-E allows you to deposit fiat into your account as well Smiley

OP; This information comes from Bitfinex their site.

DEPOSIT
Bitcoin    free
Litecoin    free
TetherUSD    free
Bank wire    0.100% of the deposit amount, with a minimum fee of $20.00

WITHDRAWAL
Bitcoin    free
Litecoin    free
TetherUSD    free
Bank wire    0.100% of the withdrawal amount, with a minimum fee of $20.00
Express bank wire (within 24 hours on business days)    1.000% of the withdrawal amount, with a minimum fee of $20.00
Atomicat
Legendary
*
Offline Offline

Activity: 952
Merit: 1002



View Profile
November 30, 2015, 10:34:44 AM
 #6

As 1Referee posted above both BTC-E and Bitfinex allows deposits and withdrawals.

I don't understand what you mean by "How does it control the price"?
An exchange cannot control the Bitcoin price. Its the traders on the exchange who controls the buy/sell price.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!