[2016-08-11] Bitfinex’s BFX Token Loses Nearly 70% Of its Value

[jdebunt]

It is important to keep in mind that, while these tokens may have a value on their own, they represent an outstanding debt. Some traders may want to buy up these coins to gain a stake in the parent company over time. Whether or not that is the best business decision remains to be seen. After all, Bitfinex was hacked and lost US$65m once, and it could happen again.

http://fintechist.com/bitfinexs-bfx-token-loses-nearly-70-value/

[TraderTimm]

I believe Bitmex is offering futures on the BFX coin, though it remains to be seen if you can actually use them to hedge:

https://www.bitmex.com/app/index/.BFX - Index

https://www.bitmex.com/app/index/.BFX30M - Half-hourly

Use at your own risk, etc...

[Kprawn]

Given the opportunity to get shares in Mr. Porky's down the road or to own some of these tokens, I would chose Mr. Porky's without a doubt. How can you trust a company who has lost $60 000 000 and

then spread this hack to the people who where unaffected by the hack. The CEO of this company do not give any kind of public explanation and hide from the press. Most of the people working for this

company is a secret, so you do not even know who is handling your money. Nah, gimme Mr. Porky's shares. 

[a7mos]

the BFX token is just a shit coin. bitfinex created it to avoid any case against them. so I am not surprised that people are trading it for 31 cents only although it costs them $1.
 I believe that most of bitfinex users that were affected by the loss will withdraw all their funds and abandon the site forever. so they sell that token before it becomes valueless

[scyth3]

Bitfinex can buy back the BFXcoin for 30% of their value. Then their lost of $60M is now $18M. Maybe less when it falls even more.

[InvoKing]

Bitfinex can buy back the BFXcoin for 30% of their value. Then their lost of $60M is now $18M. Maybe less when it falls even more.

in this case they will think that they reduced the losses but huh one of the possibilities is that people could leave the sinking ship and the game will be over

[GoldSeal]

They just go robbed and you people are stilling trading there? all I can say is wow.

[richardsNY]

They just go robbed and you people are stilling trading there? all I can say is wow.

Smart people have already taken their loss, and cashed out everything. But yes, it also amazes me that certain people still use and trust that exchange with their coins and money. I thought them being hacked was enough reason to leave that exchange...

[coinzat]

They just go robbed and you people are stilling trading there? all I can say is wow.

I left this site and I will never try it again. after losing third of my funds which were not bitcoin BTW, why would I use bitfinex again ? the made me and other users pay for their mistake and then they want to continue working !
anyone who continue using this site after all what they did is just stupid