Bitfinex. Will they cover the 65 million dollar BTC Theft or just fold?

[Searing]

Title says it all

Bitfinex. Will they cover the 65 million dollar BTC Theft or just fold?

You can comment here. But please take the Poll.

Myself I'd be shocked if they could cover a 65 million dollar btc loss. But the poll will tell here, so feel free to vote.

[JeffBrad12]

Title says it all

Bitfinex. Will they cover the 65 million dollar BTC Theft or just fold?

You can comment here. But please take the Poll.

Myself I'd be shocked if they could cover a 65 million dollar btc loss. But the poll will tell here, so feel free to vote.

I never believe they will cover the losing a 65 million dollar, it's very large to cover. learning from the previous cases the hacked exchange site is avoided to cover the loss amount. in my minds, maybe caused by they is not have an enough amount to cover or the intern factor.

[Quickseller]

Based on what their community relations guy has been saying on bitfinex, they do not currently have sufficient capital to cover all of the losses from today's hack. I would speculate that they are attempting to quickly raise capital in order to make up for whatever shortfall they have.

If they are otherwise unable to raise sufficient capital, then I suspect that they will somehow socialize losses. From what I can tell, they make a lot of BTC from trading commissions, so I don't think it would make sense for them to "fold"

[Wind_FURY]

They will fold I am sure. The big question is will they pay back their customers lost funds? There are signs that this will not happen because there are speculations that they do not have enough funds to pay them all. Maybe they will pay some but not all.

Can anybody post who the owners of BitFinex are?

[DaRude]

They either need to raise $65M in capital. Unlikely they can do it themselves internally. More likely someone from outside will come it and offer a bailout for a good chunk of their shares.
Give everyone a haircut, and run a fractional reserve with Finextokens in hope they can recover with time and that market will believe them? Depends on % of the haircut, and if it would even be legal? Probably would need major creditors to agree to this?
Or go mtgox, belly up.

I'm guessing 30% someone from outside (coinbase? Winterflosses?) coming in and saving the day, 30% everyone would get a haircut, and 30% they fold

[bones261]

Judging how most of these exchange "hacks" go down, I think the will just take the money and run.
https://www.youtube.com/watch?v=-WCFUGCOLLU

[lordlucan]

AS they have said only bitcoin was stolen does that mean wallet with no bitcoin just cash are safe

[NUFCrichard]

They either need to raise $65M in capital. Unlikely they can do it themselves internally. More likely someone from outside will come it and offer a bailout for a good chunk of their shares.
Give everyone a haircut, and run a fractional reserve with Finextokens in hope they can recover with time and that market will believe them? Depends on % of the haircut, and if it would even be legal? Probably would need major creditors to agree to this?
Or go mtgox, belly up.

I'm guessing 30% someone from outside (coinbase? Winterflosses?) coming in and saving the day, 30% everyone would get a haircut, and 30% they fold

Even if they raise the 65mil, it will make them weak going forward.  You would have to assume it would be a loan, so they would take on debt, just to get them back to the situation they were in a few days ago.
Sucks for Bitfinex and bitcoin all round.

[Wind_FURY]

Judging how most of these exchange "hacks" go down, I think the will just take the money and run.
https://www.youtube.com/watch?v=-WCFUGCOLLU

This has been what's happening in the history of bitcoin exchanges. I wonder how BitFinex accumulated all that trading volume? They surpassed more established exchanges like bitstamp.net and BTCe in volume. Could it be that the numbers they have are manipulated by them?

[Unacceptable]

Wow,another Gox 

[lordlucan]

well quoting bitfinex,their main priority is secure there site and get back online and sort out customers losses at a later date

[rindo]

i voted They will cover the loss.

this is just my opinion that I am pretty sure they are will cover loss,,I actually I also This impact about Bitfinex i lose much bitcoin yeah so sad but still hope that will be better,,and see price BTC now many losses here bocouse Bitfinex got hacked

just my opinion

[JayJuanGee]

I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.

[ultrloa]

They either need to raise $65M in capital. Unlikely they can do it themselves internally. More likely someone from outside will come it and offer a bailout for a good chunk of their shares.
Give everyone a haircut, and run a fractional reserve with Finextokens in hope they can recover with time and that market will believe them? Depends on % of the haircut, and if it would even be legal? Probably would need major creditors to agree to this?
Or go mtgox, belly up.

I'm guessing 30% someone from outside (coinbase? Winterflosses?) coming in and saving the day, 30% everyone would get a haircut, and 30% they fold

Even if they raise the 65mil, it will make them weak going forward.  You would have to assume it would be a loan, so they would take on debt, just to get them back to the situation they were in a few days ago.
Sucks for Bitfinex and bitcoin all round.

Your right and how could they collect 65 millions and covered to pay their user's lose and im pretty sure that bitfinix cannot do nothing for this bad incident since the hacking issue has been done and if they would pay they will surely struggle for their comeback operation since they might dont have enough funds to start again their site exchange operation, well let see further news to be happen with this since the price of bitcoin has been affected for this sudden bad incident.

[Searing]

I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.

i take your point..thus the no frigging idea choice was added it can apply to all the above....

(its not like i really know how to setup a correct poll don't ya know)

edit:

below 65 million dollar source link (assuming that holds)



http://thenextweb.com/insider/2016/08/03/bitcoin-bitfinex-75-million-stolen/#gref

[Pursuer]

I hope they cover the losses somehow but I don't think they can do it, because it is such a huge amount of money that is not easy to part with.
so most probably bitfinex is just going to be added to the list of exchanges that said we were hacked and never seen them any more like cryptsy.

[Labumi]

I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.

I thought this thread would only be filled with understanding or assumption of each person who is in this forum. Because I see that bitfinex does not give something sure thing, so this is just a first step or action to calm its users and they can get a little quietly to find a way out

[bitcapitalist]

Investors getting ready to get shares. I think they will cover it somehow. Hope they do We don't want a second gox.

[lordlucan]

I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.

i take your point..thus the no frigging idea choice was added it can apply to all the above....

(its not like i really know how to setup a correct poll don't ya know)

They have confirimed on reddit they lost just over 119 thousand Bitcoin

[JayJuanGee]

I don't feel comfortable attempting to answer this poll because it is based on a premature assumption regarding the supposed exact amount that Bitfinex lost in this latest attack, and without even evidence of the remainder of their holdings.

i take your point..thus the no frigging idea choice was added it can apply to all the above....

(its not like i really know how to setup a correct poll don't ya know)

I understand that a lot of folks are worried about bitfinex for their own coins and just the impact on the bitcoin infrastructure and image, and maybe I can be a bit too much of a nit picker.... but I am really thinking that we don't have enough information.. even though Bitfinex's actions kind of assume a worse case scenario, yet it is not for sure a given that either they lost as much as people are speculating or that they may not have some evidence regarding how they might be able to get them back... anyway, I do think that if they make some kind of representation regarding what happened and what is their plan, we will be in a better position to assess the situation, even if they are less than forthright in their depiction of the situation.