Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[bad trader]

Relax guys, they are processing withdrawals manually over at BFX. Your withdrawal order will be processed with great care and will arrive at destination sometimes this... year.

Or a few years later. Courts are pretty slow.

bitfinex being offline is bullish ..

It's processing trades, though.

[Fatman3001]

So if people wan´t at least try to withdraw their coins i guess they would have to close their positions first.

100k+ BTC long vs. 20k BTC short

Do the math    

100k-20k=80k

80k/Yx3,14=$32000 coins!!!

CCMF!!!

[ChartBuddy]

Coin
Explanation

[aztecminer]

Relax guys, they are processing withdrawals manually over at BFX. Your withdrawal order will be processed with great care and will arrive at destination sometimes this... year.

Or a few years later. Courts are pretty slow.

bitfinex being offline is bullish ..

It's processing trades, though.

i dunno, i don't trade there.. i'm just going by what their twitter says. i do see they are trading on bitcoinwisdom though . maybe they won't stop trading this time.

[jertsy]

So if people wan´t at least try to withdraw their coins i guess they would have to close their positions first.

100k+ BTC long vs. 20k BTC short

Do the math    

100k-20k=80k

80k/Yx3,14=$32000 coins!!!

CCMF!!!

What if Bitfinex doesn't have enough coins to pay everyone if they all withdraw at the same time? They might go offline and keep saying they will reopen sometime in the future like Gox did. I don't think Bitfinex has ever done a proof of reserves, or has it?

[Fatman3001]

Wow, just imagine if only a few thousand of Finex coins could get withdrawn and hit Bitstamps or Krakens empty orderbook during the next bear raid!
We all know that the network will get spammed by coinwallet.eu with a resulting 30d delay in transactions in 6 days, so any sane person would put it on a exchange now instead of putting it into coldwallet, maybe inca and LFC will but who else?


WOW
WOW
WOW


Stamp shows at least ~ 1,7m (~9000BTC) in bids before we go to double digits!

BULLISH!

No XT fud?

[Fatman3001]

So if people wan´t at least try to withdraw their coins i guess they would have to close their positions first.

100k+ BTC long vs. 20k BTC short

Do the math    

100k-20k=80k

80k/Yx3,14=$32000 coins!!!

CCMF!!!

What if Bitfinex doesn't have enough coins to pay everyone if they all withdraw at the same time? They might go offline and keep saying they will reopen sometime in the future like Gox did. I don't think Bitfinex has ever done a proof of reserves, or has it?

What if they simply had some technical stuff they needed to fix?

An audit (sort of): https://bitcointalk.org/index.php?topic=560457.0

[rebuilder]

i'm just going by what their twitter says.

Somewhere out there there must be a customer relations manual stressing the importance of only making announcements on downtime etc. in chats, private emails and 3rd party sites - never on the service's own announcement page! And someone must have sent free copies to all the exchange operators.

[Fatman3001]

Wow, just imagine if only a few thousand of Finex coins could get withdrawn and hit Bitstamps or Krakens empty orderbook during the next bear raid!
We all know that the network will get spammed by coinwallet.eu with a resulting 30d delay in transactions in 6 days, so any sane person would put it on a exchange now instead of putting it into coldwallet, maybe inca and LFC will but who else?


WOW
WOW
WOW


Stamp shows at least ~ 1,7m (~9000BTC) in bids before we go to double digits!

BULLISH!

No XT fud?

XT is just a lame excuse used by bullscammers for the current drop . The real reason is, as always, scammin exchanges and most important  no one buyin or puttin additional money into a technology no one is usin beside a few criminals. Price has only been held up by fake buy orders on Finex with BTC used as collateral. Now that they are dying, we will discover the "real" price. Call me when Bistamp has more than 5-10m, in it´s orderbook,  then i might buy again....

I don't have your phone number. Can I PM instead?

[thefunkybits]

What exactly is going on at Finex?

Have they come out with any sort of official statement?

[gentlemand]

What exactly is going on at Finex?

Have they come out with any sort of official statement?

https://www.reddit.com/user/zanetackett

That's a good source too.

[bad trader]

What exactly is going on at Finex?

Have they come out with any sort of official statement?

Well, on Twitter they said: "Trading has resumed. We'll update everyone with more detail as to what happened shortly."

Usually, with Bitcoin exchanges, statements like these mean they will never tell any outsider what happened exactly.

[esse83]

If you have half a brain it's time to short, check out the resistance line at bitfinex. Expect either a huge pump (insanely ulikely) or a dump.

[jertsy]

What exactly is going on at Finex?

Have they come out with any sort of official statement?

Well, on Twitter they said: "Trading has resumed. We'll update everyone with more detail as to what happened shortly."

Usually, with Bitcoin exchanges, statements like these mean they will never tell any outsider what happened exactly.

This tweet is the nearest thing to a statement that I could find. It suggests their trading engine's database is corrupt, and there has already been a complaint from one of their customers that his balance is not correct. I've not found a proper official statement anywhere yet, only that tweet.

https://twitter.com/bitfinex/status/636258874606133248

Bitfinex.com ‏@bitfinex  2h 2 hours ago
We are experiencing data corruption issues and will be offline until corrected. Sorry for the inconvenience.

[esse83]

What exactly is going on at Finex?

Have they come out with any sort of official statement?

Well, on Twitter they said: "Trading has resumed. We'll update everyone with more detail as to what happened shortly."

Usually, with Bitcoin exchanges, statements like these mean they will never tell any outsider what happened exactly.

This tweet is the nearest thing to a statement that I could find. It suggests their trading engine's database is corrupt, and there has already been a complaint from one of their customers that his balance is not correct. I've not found a proper official statement anywhere yet, only that tweet.

https://twitter.com/bitfinex/status/636258874606133248

Bitfinex.com ‏@bitfinex  2h 2 hours ago
We are experiencing data corruption issues and will be offline until corrected. Sorry for the inconvenience.

I believe them as much as I believe they actually had $30million ready to buy BTC.

[ChartBuddy]

Coin
Explanation

[inca]

I see the price has inexplicably failed to collapse to double digits.

 

[barbs]

What a shit show.

[bad trader]

"Withdrawal processing has been restored to normal, withdrawals should all be processed shortly."

All right people, the disaster has been averted and the price is at $222.22. That means you must buy, because it is a magic number in China!

[adamstgBit]

feel free to participate in my experiment https://bitcointalk.org/index.php?topic=1161903.msg12242592#new