Bitfinex - Funding. Yes or No?

[Rinder]

Im surprised since the hack ammount stealed were huge, i thinked they would close their doors before 2017, they had damage bitcoin value almost instant, besides the big loss several people got from those. I wont trust into it, even knowing poloniex had faced some similiar attack in the past, i trust poloniex nowadays, i know their history, but the volume its huge, and they are always inovating bringing extra features as lending marketplace. Bitfinex might had reborn from the hacker attack, but costumers will be the people that can make it happen.

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[blockman]

Better not to support this site anymore. Once it happened already, the vulnerability of the site is there. And the possibility that it can be hacked again is always there. Even though bitfinex is doing hard to get back the trust of the people still better to be safe than to be sorry in the end. Take the risk if you want, but we warned you.

I personally don't believe Bitfinex was hacked, but opinions on this might be different. However, no matter what has happened, a fair amount of its major traders are still making use of Bitfinex because its interface and such is more appealing to them when it comes to marginal trading and all that. But still, their trading volumes are still not recovered, and that's mostly due to the fact that a certain number of traders have left that exchange. That being said, I wonder where they might have gone as I don't see a serious increase of volume on other exchanges which might indicate that Bitfinex's old traders have gone there.

OP - I wouldn't make use of Bitfinex, but if you think it's the right exchange for you, and you make a decent amount of money, then just continue your business there. But don't forget what has happened a few months ago.

Well we don't know if they are just hiding in the reason of being hacked or they really don't want to admit that they really stole their investors fund. Because it is very easy to say, "hey were hacked, all the funds got by hacker." Well that is making a lot of trust removed with them.
But for op, yeah if he gets good result then let him continue with his way.

[stomachgrowls]

Better not to support this site anymore. Once it happened already, the vulnerability of the site is there. And the possibility that it can be hacked again is always there. Even though bitfinex is doing hard to get back the trust of the people still better to be safe than to be sorry in the end. Take the risk if you want, but we warned you.

I personally don't believe Bitfinex was hacked, but opinions on this might be different. However, no matter what has happened, a fair amount of its major traders are still making use of Bitfinex because its interface and such is more appealing to them when it comes to marginal trading and all that. But still, their trading volumes are still not recovered, and that's mostly due to the fact that a certain number of traders have left that exchange. That being said, I wonder where they might have gone as I don't see a serious increase of volume on other exchanges which might indicate that Bitfinex's old traders have gone there.

OP - I wouldn't make use of Bitfinex, but if you think it's the right exchange for you, and you make a decent amount of money, then just continue your business there. But don't forget what has happened a few months ago.

Well we don't know if they are just hiding in the reason of being hacked or they really don't want to admit that they really stole their investors fund. Because it is very easy to say, "hey were hacked, all the funds got by hacker." Well that is making a lot of trust removed with them.
But for op, yeah if he gets good result then let him continue with his way.

Agree with this one on which any exchanges or anyone could say that they are being hacked and shows it to public but the possibilities of an inside job is always there and some people would really think of it that they are the ones who stole on its investors money but no one would really know about the truth since we are on this cryptoworld.

[blockman]

Better not to support this site anymore. Once it happened already, the vulnerability of the site is there. And the possibility that it can be hacked again is always there. Even though bitfinex is doing hard to get back the trust of the people still better to be safe than to be sorry in the end. Take the risk if you want, but we warned you.

I personally don't believe Bitfinex was hacked, but opinions on this might be different. However, no matter what has happened, a fair amount of its major traders are still making use of Bitfinex because its interface and such is more appealing to them when it comes to marginal trading and all that. But still, their trading volumes are still not recovered, and that's mostly due to the fact that a certain number of traders have left that exchange. That being said, I wonder where they might have gone as I don't see a serious increase of volume on other exchanges which might indicate that Bitfinex's old traders have gone there.

OP - I wouldn't make use of Bitfinex, but if you think it's the right exchange for you, and you make a decent amount of money, then just continue your business there. But don't forget what has happened a few months ago.

Well we don't know if they are just hiding in the reason of being hacked or they really don't want to admit that they really stole their investors fund. Because it is very easy to say, "hey were hacked, all the funds got by hacker." Well that is making a lot of trust removed with them.
But for op, yeah if he gets good result then let him continue with his way.

Agree with this one on which any exchanges or anyone could say that they are being hacked and shows it to public but the possibilities of an inside job is always there and some people would really think of it that they are the ones who stole on its investors money but no one would really know about the truth since we are on this cryptoworld.

And there is only one sure thing about bitfinex, their trust now has already being stained. Many investors pulled out already their funds to them and that's now being followed by some investors but there is also no doubt that there are some enthusiast investors that are keeping their faith to BF and looking forward to its revenge in the market.

[stomachgrowls]

Better not to support this site anymore. Once it happened already, the vulnerability of the site is there. And the possibility that it can be hacked again is always there. Even though bitfinex is doing hard to get back the trust of the people still better to be safe than to be sorry in the end. Take the risk if you want, but we warned you.

I personally don't believe Bitfinex was hacked, but opinions on this might be different. However, no matter what has happened, a fair amount of its major traders are still making use of Bitfinex because its interface and such is more appealing to them when it comes to marginal trading and all that. But still, their trading volumes are still not recovered, and that's mostly due to the fact that a certain number of traders have left that exchange. That being said, I wonder where they might have gone as I don't see a serious increase of volume on other exchanges which might indicate that Bitfinex's old traders have gone there.

OP - I wouldn't make use of Bitfinex, but if you think it's the right exchange for you, and you make a decent amount of money, then just continue your business there. But don't forget what has happened a few months ago.

Well we don't know if they are just hiding in the reason of being hacked or they really don't want to admit that they really stole their investors fund. Because it is very easy to say, "hey were hacked, all the funds got by hacker." Well that is making a lot of trust removed with them.
But for op, yeah if he gets good result then let him continue with his way.

Agree with this one on which any exchanges or anyone could say that they are being hacked and shows it to public but the possibilities of an inside job is always there and some people would really think of it that they are the ones who stole on its investors money but no one would really know about the truth since we are on this cryptoworld.

And there is only one sure thing about bitfinex, their trust now has already being stained. Many investors pulled out already their funds to them and that's now being followed by some investors but there is also no doubt that there are some enthusiast investors that are keeping their faith to BF and looking forward to its revenge in the market.

Yes,its already putted by stained on which trust is already lessen since its being easily hacked by someone and investors and traders would really dount now if they would still remain or pull-out and as you said most of them pull out their funds and some stay on the platform and we cant blame them since they do have still remaining trust on the exchange site.

[Nahl]

i wasn't ever use bitfinex for my trading activities indeed after they got hack i thought people will not trust anymore to them but apparently
they could managed to restore public confidence because volume support for bitcoin over than $20 millions per day is huge but in my oppinion people should be learn from their mistakes that do not 100% trust to exchange even those exchange is the biggest exchange in the world because if hacked incident reoccur then people will losing their money again twice

[Barnabe]

Even if bitfinex was hacked it still continued on track and tried to pay back some of their losses, which IMO is a very good sign. They have proven that they will try to honor their commitments even when they screw up.
But I wouldn't keep all my BTC there 

[X-ray]

Even if bitfinex was hacked it still continued on track and tried to pay back some of their losses, which IMO is a very good sign. They have proven that they will try to honor their commitments even when they screw up.
But I wouldn't keep all my BTC there 

not a good sign when they were hacked they're doing 36% haircut losses to their client. it's their mistake and they should have the responsibility over it. in my opinion honestly after the bitfinex hacking just occured they're proven to have poor security and probably don't give a shit about it. maybe they're improving their security but not everyone getting interested after having inconvenience there

[Barnabe]

Even if bitfinex was hacked it still continued on track and tried to pay back some of their losses, which IMO is a very good sign. They have proven that they will try to honor their commitments even when they screw up.
But I wouldn't keep all my BTC there 

not a good sign when they were hacked they're doing 36% haircut losses to their client. it's their mistake and they should have the responsibility over it. in my opinion honestly after the bitfinex hacking just occured they're proven to have poor security and probably don't give a shit about it. maybe they're improving their security but not everyone getting interested after having inconvenience there

36% losses is better than losing it all.
Since they have already been hacked, they probably learned from their mistakes and reinforced security. In a way, they are the only ones with a true experience of hacking and thus they are now probably safer than the others 

[bitjoin]

The site have already ruined their reputation, if they are funding then well and good but the reputation is really necessary in business and you cannot easily get back the trust and confidence of the people easily once something serious happened.

They are still the biggest site in the west so it seems they have regained some confidence.  They have however lost some customers for sure because other sites have caught up on volumes. 

[Zadicar]

The site have already ruined their reputation, if they are funding then well and good but the reputation is really necessary in business and you cannot easily get back the trust and confidence of the people easily once something serious happened.

They are still the biggest site in the west so it seems they have regained some confidence.  They have however lost some customers for sure because other sites have caught up on volumes. 

Agree they are the biggest site/exchanger on the west and some die hard traders do really still trust them inspite of the hack that happen previously but as you said there are lots of users have switch to another exchangers because they feel that they are not safe when they decide to stay on bitfinex.

[bitjoin]

The site have already ruined their reputation, if they are funding then well and good but the reputation is really necessary in business and you cannot easily get back the trust and confidence of the people easily once something serious happened.

They are still the biggest site in the west so it seems they have regained some confidence.  They have however lost some customers for sure because other sites have caught up on volumes. 

Agree they are the biggest site/exchanger on the west and some die hard traders do really still trust them inspite of the hack that happen previously but as you said there are lots of users have switch to another exchangers because they feel that they are not safe when they decide to stay on bitfinex.

Im still on finex for a smaller amount right now because i think the pros outweigh the cons.  Anyone can get hacked on any exchange, i also use kraken and have mtgox funds waiting to come back from them.  BTC-e seem the most suspicious yet have a pretty decent record vs others.  We just need BTC to become a useable currency everywhere then you wont need exchange to fiat.

[zombie6]

In Russia, this exchange was blocked by Roskomnadzor almost all operators and providers) to come to use the VDS, fuck(

[amaral1977]

Is Bitfinex Funding still a thing ? I cant find any recent bad reviews of that exchange......no hacking or anything like that .

Hold thread Popped up:) I'm using it since 2016 with no problems. The market varies but it gives consistent returns. Check it out and see if the amount of interest is good enough for you. As for the exchange it had some problems with the "fiat gateway" , but as i don't use fiat in and out i don't really know out it turned out.

[krigger]

Bitfinex is a fake exchange and they are conducting a scam right now by creating fake Tethers out of thin air and selling them and stealing millions of dollars from under our noses! It is true! If you don't believe me, look it up! Tether is owned by the same company that created and owns Bitfinex and they are running a scam operation right now. Don't keep your money on Bitfinex if you know what is good for you!

[grixxby]

Yeah, there's been some debate going on about tether and bitfinex.
This guy has a pretty good explanation : https://medium.com/@bitfinexed (warning : somewhat lengthy articles).
Offchain talked about it in some of their videos, including their latest : https://www.youtube.com/watch?v=NgBKQrTbVVg

I used to do funding on bitfinex but I stopped, even though they offer some very interesting daily rates. This feels a bit too risky if the tethers are indeed not backed up by dollars or not redeemable.
Or just remember the previous hack and the 36% "haircut" everybody using that platform had to suffer.

[katiecbell]

Yeah, there's been some debate going on about tether and bitfinex.
This guy has a pretty good explanation : https://medium.com/@bitfinexed (warning : somewhat lengthy articles).
Offchain talked about it in some of their videos, including their latest : https://www.youtube.com/watch?v=NgBKQrTbVVg

I used to do funding on bitfinex but I stopped, even though they offer some very interesting daily rates. This feels a bit too risky if the tethers are indeed not backed up by dollars or not redeemable.
Or just remember the previous hack and the 36% "haircut" everybody using that platform had to suffer.

Hmmm, you guys are funding traders on Bitfinex? How is that possible and how does it work? Assuming you fund someone who is a trader, how do you know whether they made profit in the trade or if they made loss, and what will you do if the trader never made a single profit from the funds you gave to them??? This is kind of a very risky business to be involved in and I wouldn’t like to do such, unless there is a guaranteed profit.

[grixxby]

Hmmm, you guys are funding traders on Bitfinex? How is that possible and how does it work? Assuming you fund someone who is a trader, how do you know whether they made profit in the trade or if they made loss, and what will you do if the trader never made a single profit from the funds you gave to them??? This is kind of a very risky business to be involved in and I wouldn’t like to do such, unless there is a guaranteed profit.

Simply put: you don't know. Whether it is who the lendee is, and whether he made a profit or not. That's kinda irrelevant.
The only thing that matters is that he's able to pay you back with interest.
That's why he has to put collateral (his margin funds).

Is it 100% safe ? Nope. But it is quite safe, I did it for a few months without any problem or loss.
But unless there's a -80% on all crypto at the same instant, you're quite safe.

Of course, you're still exposed to platform hacking (and the infamous bitfinex haircut style to recoup their losses).