Bitcoin Forum
May 12, 2024, 12:24:22 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Anyone else getting fk'd over by Finex with BTC transactions atm?  (Read 661 times)
MatTheCat (OP)
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
June 13, 2016, 03:59:01 PM
 #1

Seeing Bitcoin get up to over $700 on Finex, I decided to scrape together all the little bits of BTC that I have lying around, and cash them out...

.....a comination of around 21 confirmations later (over 2 transactions), and Finex registeres nothing to my account.

meanwhile, some whale drops 15K worth of market sells on Finex.


If I were the suspicious type, that also thought Bitfinex were basically a bunch of fucking crooks (which I am), then I would say that delaying registering BTC in accounts, is a deliberate blanket policy of Finex's, to allow them and their mates to dump, and to prevent Joe Public from dumping (and thus resulting in too much dumpage).

This market is fucking criminal, and run by fucking criminals.


Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715516662
Hero Member
*
Offline Offline

Posts: 1715516662

View Profile Personal Message (Offline)

Ignore
1715516662
Reply with quote  #2

1715516662
Report to moderator
1715516662
Hero Member
*
Offline Offline

Posts: 1715516662

View Profile Personal Message (Offline)

Ignore
1715516662
Reply with quote  #2

1715516662
Report to moderator
1715516662
Hero Member
*
Offline Offline

Posts: 1715516662

View Profile Personal Message (Offline)

Ignore
1715516662
Reply with quote  #2

1715516662
Report to moderator
MatTheCat (OP)
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
June 13, 2016, 04:17:47 PM
 #2

a deliberate blanket policy of Finex's, to allow them and their mates to dump, and to prevent Joe Public from dumping (and thus resulting in too much dumpage).

ITT: After years of trading, OP discovers that crooked exchanges are, indeed, crooked.

what I bet happened on Finex, is that last night, loads of arb takers would have bought Finex, and headed over to cash out on Huobi where there was at times a $50 per BTC premium.

As Finex went over $700, the premium narrowed back down to less than $10. At this point, the arb takers would have started flooding back over to Finex with one thing in mind.......seeing this, Finex made the decision to not recognise the BTC deposits, until they or their friends, had done their BTC business.

Fucking snakes......I would so much prefer to trade on Kraken....but all this EURBTC and low liquidity just throws in more moving parts that I could do well without.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
European Central Bank
Legendary
*
Offline Offline

Activity: 1288
Merit: 1087



View Profile
June 13, 2016, 04:39:31 PM
 #3

Maybe it's also something to do with the multi sig system they use? That's gonna take some extra processing time.
MatTheCat (OP)
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
June 13, 2016, 04:45:16 PM
 #4

Maybe it's also something to do with the multi sig system they use? That's gonna take some extra processing time.

well on this occasion, it took a whole lot fkn more extra processing time.


I say the Huobi-Finex arb opportunity last night but never jumped at it. Had I jumped at it, then I would have been on my back to Finex, from Huobi, just when Finex's 'multi sig system' happened to be experiencing 'delays' (as spot price differences normalised).....and then during those delays, Finex dumps.

Too 'coincidental'.

These fuckers were at it imo.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
CoinCidental
Legendary
*
Offline Offline

Activity: 1316
Merit: 1000


Si vis pacem, para bellum


View Profile
June 13, 2016, 05:25:25 PM
 #5

Yeah, who would trust a bunch of greasy wops in hk anyway?  Smiley
tomothy
Sr. Member
****
Offline Offline

Activity: 258
Merit: 250


View Profile
June 13, 2016, 05:50:58 PM
 #6

Could just be an issue with systems being lagged from more transactions than ordinary and the trade/processing engines being delayed. I had to wait for a confirmation withdrawal for +/- ~35 minutes before I could confirm the coin withdrawal. Freaked me out a bit.
uvwvj
Full Member
***
Offline Offline

Activity: 145
Merit: 100


View Profile
June 13, 2016, 05:56:01 PM
 #7

MatTheCat (OP)
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
June 15, 2016, 02:21:39 PM
 #8

Could just be an issue with systems being lagged from more transactions than ordinary and the trade/processing engines being delayed. I had to wait for a confirmation withdrawal for +/- ~35 minutes before I could confirm the coin withdrawal. Freaked me out a bit.

Nope, don't buy it.

In the same way how in flat markets, much of the trading on Finex (and indeed the likes of OKCoin), is the exchange itself, betting with insider knowledge against it's own customers, in circumtances with considerable arb taking opportunities, Finex will intentionaly delay transactions from being processed.

I want my funds OFF Finex, but want to avoid the anxiety of having a large sum of money hanging around in the aether, exposed to BTC, when the BTC price is well ripe for a bit of brutal corrective action, so as a test, I have attempted a 1 LTC withdrawal. Over 90 minutes later, Finex has still not processed my withdrawal request.

None of the other exchanges seem to have this problem. Indeed with Huobi, the exchange from which most Arb will be taken, both withdrawal and deposits are processed with minimal delays.

Finex are a bunch of greasy fkn Italian crooks, out plying their greasy fkn crooked business, where they won't get their greasy fkn arses thrown in jail for fraud, embezzlement, and theft.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
Gillette
Hero Member
*****
Offline Offline

Activity: 744
Merit: 500


View Profile
June 15, 2016, 02:52:57 PM
 #9

Only bears are fk`d by Finex and BTC Mat!  Grin
MatTheCat (OP)
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
June 15, 2016, 03:07:42 PM
 #10

Only bears are fk`d by Finex and BTC Mat!  Grin

Anyone who trades margin against the trend and/or during flat markets, are fucked by Bitfinex.

That is what Bitfinex do. That is how they make their profits. By fucking their customers.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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!