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Author Topic: bitfinex back on track leading the market.  (Read 3338 times)
panju1
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September 23, 2016, 11:29:15 PM
 #61

probably its just bitfinex trading their own money

They don't have any money, right?
They just issued a big set of IOUs to cover the hack.  Tongue
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September 24, 2016, 02:02:23 AM
 #62

It seems people still trust bitfinex. If i were the victim of bitfinex hack, i will not using bitfinex again. It's surprised bitfinex can rise again and back on track leading the market.
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September 24, 2016, 05:41:13 AM
 #63

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

i think bitfinex will trying to get the member attention and trying to re-get trusted from their member after their been hacked, and if bitfinex is really do it with careful, then i think bitfinex deserve to get this chance and promised that bitfinex will never do it again and they will make sure that now they are really secure and safe for their member.

if its success, then i think member will be back with them again and put their bitcoin into them and start trading again like before.

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September 24, 2016, 09:17:39 AM
 #64

probably its just bitfinex trading their own money

They don't have any money, right?
They just issued a big set of IOUs to cover the hack.  Tongue

That aside, an exchange doesn't even need money to trade with. They can just appoint a certain amount of (not existing) fiat and coins to certain accounts, and start manipulating their entire market. Just like MtGox did back in the days.

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September 24, 2016, 12:24:35 PM
 #65

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

i think bitfinex will trying to get the member attention and trying to re-get trusted from their member after their been hacked, and if bitfinex is really do it with careful, then i think bitfinex deserve to get this chance and promised that bitfinex will never do it again and they will make sure that now they are really secure and safe for their member.

if its success, then i think member will be back with them again and put their bitcoin into them and start trading again like before.

And how could they be trusted back again if their system has been breached already? I think people are smarter enough and don't want to be scammed/hacked their balance at them, so much better to avoid and find another exchangers who offers more good securities and can make sure to safeguard the traders fund, and i think bitfinnex and polo is the best site to go with for now on but bitfinnex? Nahh i just leave the thoughs to put again my money in their.

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September 24, 2016, 02:00:55 PM
 #66

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

i think bitfinex will trying to get the member attention and trying to re-get trusted from their member after their been hacked, and if bitfinex is really do it with careful, then i think bitfinex deserve to get this chance and promised that bitfinex will never do it again and they will make sure that now they are really secure and safe for their member.

if its success, then i think member will be back with them again and put their bitcoin into them and start trading again like before.

And how could they be trusted back again if their system has been breached already? I think people are smarter enough and don't want to be scammed/hacked their balance at them, so much better to avoid and find another exchangers who offers more good securities and can make sure to safeguard the traders fund, and i think bitfinnex and polo is the best site to go with for now on but bitfinnex? Nahh i just leave the thoughs to put again my money in their.

good to see that you think like that, but unfortunately there are quite some people that are still using that exchange. i would directly withdraw all my coins and move to a different exchange. certain people don't seem to learn from what happened. will they learn when it happens once again? i don't think so. people are either too lazy to move to a different place, or they really believe bitfinex has got their business back on track. not sure which is worse.
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September 24, 2016, 02:53:02 PM
 #67

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

Bitfinex is currently in sixteenth place, representing less than 2% of BTC trade volume.

Hardly "leading the market," OP.
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September 24, 2016, 05:56:42 PM
 #68

it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.

Bitfinex is currently in sixteenth place, representing less than 2% of BTC trade volume.

Hardly "leading the market," OP.

They got a big hit with the hack and honestly I don't see why investors and tradings should ever put their trust back in bitfinex. What did they do? was it really better later then first?
And then there is the fact bitfinex is known for their manipulation, close the exchange when the prices go up or down.

Let's hope they are over.
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September 24, 2016, 05:58:15 PM
 #69

Having a small stash of money there, becoming an even smaller stash of money I an say i am not using them anymore. Nor will I use them in the future.
Many people think the same and thus it seems their trust level is so low they can't recope I think.

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September 24, 2016, 08:01:11 PM
 #70

probably its just bitfinex trading their own money

They don't have any money, right?
They just issued a big set of IOUs to cover the hack.  Tongue

That aside, an exchange doesn't even need money to trade with. They can just appoint a certain amount of (not existing) fiat and coins to certain accounts, and start manipulating their entire market. Just like MtGox did back in the days.

they found some money after the hack, either borrowed it from a bank or maybe got an investor to put up the money.

in that case they could go on trading using the money they borrowed.

actually that bitfinex is a bucketshop all along making good money for the owners and taking it from the customers.  so (exclude the hack) it is a good business. but exchange needs liquidity to operate, so the owners will make the market if there are no customers.  this is common "business strategy" of all exchanges not only bitfinex.  no liquidity = no trades = no customers.  since trader always goes to the exchange with "most liquidity".

like a slot machine it always needs to "appear' busy even if no actual customers.  this is most likely situation.

as long as poeple want to deposit, they can keep it open. the running cost are not very high either.

case closed. nothing more to see on this, move along.
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September 24, 2016, 09:17:42 PM
 #71

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

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September 24, 2016, 10:02:57 PM
 #72

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

If people took their loss and withdraw all their balances from Bitfinex, then look at how quick this exchange will sink. But people apparently think Bitfinex did enough to come up with a "good plan" to pay people back. And that may be reason enough for them to stay trading there. And who knows, maybe Bitfinex is totally faking their trades and volumes to make it look like people are still trading there. We don't know that as it's all speculation.
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September 24, 2016, 10:14:29 PM
 #73

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

If people took their loss and withdraw all their balances from Bitfinex, then look at how quick this exchange will sink. But people apparently think Bitfinex did enough to come up with a "good plan" to pay people back. And that may be reason enough for them to stay trading there. And who knows, maybe Bitfinex is totally faking their trades and volumes to make it look like people are still trading there. We don't know that as it's all speculation.

Or one day, it will be 'hacked' again. They had the money to pay the users part of their loss because the 'hacked' money is IN THEIR POCKETS.
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September 25, 2016, 07:02:04 PM
 #74

Whatever they do, i will not put anything there again. Bitfinex may never be able to stand as number 1 bitcoin exchange platform again.

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September 26, 2016, 01:40:31 PM
 #75

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

If people took their loss and withdraw all their balances from Bitfinex, then look at how quick this exchange will sink. But people apparently think Bitfinex did enough to come up with a "good plan" to pay people back. And that may be reason enough for them to stay trading there. And who knows, maybe Bitfinex is totally faking their trades and volumes to make it look like people are still trading there. We don't know that as it's all speculation.

Or one day, it will be 'hacked' again. They had the money to pay the users part of their loss because the 'hacked' money is IN THEIR POCKETS.

my trust is done in bitfinex and i would not do trades their again and not planning to do any of those in the future,  bitfinnex is done and it could be hacked again since the they was newly attacked by hackers so to avoid some loss again its better for now to abandone that one and find another exchanger like ccex and bittrex,  and i believe the past traders wouldn't take a risk again to do trades in their.  so we better be carefull. for this since we. might gonna lose our money again if we risk and do some bad decision.

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September 26, 2016, 01:57:03 PM
 #76

I'm actually impressed they managed to stay open.
I predicted they would be dead in a month.
Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius.
(Along with their ability to borrow some money or whatever other method they used to stay afloat.)

If people took their loss and withdraw all their balances from Bitfinex, then look at how quick this exchange will sink. But people apparently think Bitfinex did enough to come up with a "good plan" to pay people back. And that may be reason enough for them to stay trading there. And who knows, maybe Bitfinex is totally faking their trades and volumes to make it look like people are still trading there. We don't know that as it's all speculation.

Or one day, it will be 'hacked' again. They had the money to pay the users part of their loss because the 'hacked' money is IN THEIR POCKETS.

my trust is done in bitfinex and i would not do trades their again and not planning to do any of those in the future,  bitfinnex is done and it could be hacked again since the they was newly attacked by hackers so to avoid some loss again its better for now to abandone that one and find another exchanger like ccex and bittrex,  and i believe the past traders wouldn't take a risk again to do trades in their.  so we better be carefull. for this since we. might gonna lose our money again if we risk and do some bad decision.

For sure , most of their  investors or  traders would  switch to another  exchanger since they have already some flaws  of their  security in the past which people would  hesitate to  put money again on their site but  there are really people who would still risk to  use it instead of  the hacking incident.

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