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

[JayJuanGee]

but no, we did no lose all or nearly all of the bitcoin.

So ...half?

looking at how they are reacting i bet it is a substantial amount.

I think that it is a fair inference that the amount is substantial... and based on their volume and amount of account holders, minimum loss is likely between half a million and a couple million, and the amount could be much larger... but we cannot really know until hearing a bit more about some specifics

[dloghwak]

Did you sneeze yet m8,lol , this is only the begining, crypto looking like a joke as i said before. Creating coins out of thin and doubling a billion $ supply and then exchanges allow this asset to be sold will ob have an effect on BTC.
I see $500 incoming as the struggle to $560 is almost over.

Hope you didnt lose anything at finex and if you wana be safe, go cold or use an exchange that doesnt sell etc...( theres a loop that is being used to drain btc btw )

Yeah sure a loop.

[luckygenough56]

just when segwit is supposed to be ready hehe

[barbs]

This is a disaster.

[AlexGR]

So, what perfect timing on Bitfinex's part.  

Nah, couldn't possibly be anything more than a coincidence that their breach happened at the beginning of August, during a large dump move...

 

Aaaand they "had to settle" open positions with that perfect timing

[The KGB]

Security breach on Bitfinex

Today we discovered a security breach that requires us to halt all trading on Bitfinex, as well as halt all digital token deposits to and withdrawals from Bitfinex.

We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.

The theft is being reported to — and we are co-operating with — law enforcement.

As we account for individualized customer losses, we may need to settle open margin positions, associated financing, and/or collateral affected by the breach. Any settlements will be at the current market prices as of 18:00 UTC. We are taking this necessary accounting step to normalize account balances with the objective of resuming operations. We will look at various options to address customer losses later in the investigation. While we are halting all operations at this time, we can confirm that the breach was limited to bitcoin wallets; the other digital tokens traded on Bitfinex are unaffected.

We will post updates as and when appropriate on our status page, bitfinex.statuspage.io. We are deeply concerned about this issue and we are committing every resource to try to resolve it. We ask for the community’s patience as we unravel the causes and consequences of this breach.

bitfinex.statuspage.io, support@bitfinex.com

Got this by Support just before that went up.


"Thank you for your message.

We are experiencing an issue with our deposits. Our team is working on fixing it as we speak.

Apologies for the inconvenience. We will credit your funds as soon as possible.

Kind regards,

xxxx
Bitfinex Support Team
support@bitfinex.com
"
One transaction with 50 confirms did not show up so i opened up a support ticket, and that was the reply i got.

So i really hope they keep that promise.

Within about an hour or so before the shut down, I had just sent some BTC there too, and it did not show up in my bitfinex account balance, either.

Well the craziest thing is that i sent a reply to support reading this :

"Sent: Tuesday, August 02, 2016 at 7:25 PM
From: "xxxxx" <xxxxxx@post.com>
To: "Bitfinex Support" <support@bitfinex.com>
Subject: Re: Where is my BTC . [#593354]
Please dont Gox me xxxxx.. how long will this take ? any ETA ? "

And that fucker went ahead and goxxed me anyway.

I'm all with you until you assert that you have already been "goxxed."  It is way too early to be making those kinds of assertions.  We have no idea, yet, about the magnitude of this situation beyond the fact that they are admitting that they lost some customer coins, which gox never actually admitted upfront - they only admitted after the fact.

So, yeah, we cannot be sure exactly what is going on with Bitfinex, and we can probably be quite confident that they are not being completely transparent with us; however, these early stages of this particular Bitfinex situation has not come anywhere remotely near the level of Gox's shenanigans and lack of transparency and then ongoing manipulations.  Yes, it is possible that we are all going to get screwed from Bitfinex, but at this point, that probability seems pretty low, and you are spreading FUCD regarding some possibility that is seemingly quite low, at the moment, unless you have better evidence to support such assertions, which I doubt you know any more than the information from the status page and other various publicly well known information about Bitfinex.

It was more ment as a joke then a assertion on facts.

I have no idea what is going on in Finex right now.. Why is it that it is just Finex all the fing time with there security breaches? But i guess this is really make it or brake it for them this time. If it indeed turns out that they have lost a good portion of the customers BTC "wallets" then they are pretty much going into foreclosure. Best case scenario i guess is that they have limited the damage as much as possible and we are taking about small losses or even a small fraction..

What makes this shit worse for me i the fact that my transaction got its first 4 confirms at 12.07 and now it is 21.24, the statement went public about one hour ago and support assured me that they were going to be credited 2 hours ago.. That means basicly that they have had this issue for atleast 6 hours now and i wonder how much the hacker stole before they started to realise what the f is going on ?

And i am not spreading any FUD, these are facts.

[JayJuanGee]

Barry shilbert and Peter toad...thanks for damaging crypto and BTC.

Hey Pumpy....


You mean that you are not here pumping that not to be named coin?  In comparison, bitcoin is in very decent shape,and really on track to keep prospering with security.    No need to playing around with various attempts at irrelevant and distracting personal attacks.

yoyo jj, not even a hello  ...hope all is well m8 

I said hello to you a few weeks ago, but my post got deleted... I think that my post was too much related to that unspoken thingie magigie.. if you could just stay "on topic," that would help me a lot..

Thanks uuu  a zillion, m8ie. 

lol anything for u jj ,  isnt this on topic? 

anyways i see btc heading towards $500 now, ive been expecting it for a while, all that was required was a lil push.

You mean upper $500s, like breaking below $600 or do you literally mean getting close to $500?

You could be correct if you just suggest that we could break into the upper $500s, but getting to the lower $500s seems like there would be quite a bit of a struggle for that, no? 

Accordingly, there seems to be quite a bit of buying support in these supra $600 price levels, no?

upper $500 will be tested and im very sure lower $500 like around $520s is very possible, i dont see a big struggle to $560 at all.
I hate to say this but crypto is looking like a big joke just now to outsiders.

1) Upper $500s is looking more possible, after today's additional dip. 

2) I agree breaking through the upper $500s could likely bring prices lower, but I do believe that there would be resistance in the $540 to $560 price range 

3) That unnamed coin may be looking like a bit of a joke, and there may be some implications on bitcoin (guilt by association), but really I would consider this to be a kind of normal correction that is not really any kind of deep damnation of bitcoin 

4) Personally, I think that bitcoin is still in bullish trend so long as prices do not go below $420-ish, and I believe it would take quite a bit of negative and momentum and maybe just pure downward manipulation attempts (possibly at a loss) to bring prices even close to those levels, and like I said, I expect considerable resistance in the mid-$500s - and even with that, BTC prices do need to break through the resistance in the lower $600s, too, which is really nothing to sneeze at... am I NOT KORect?              

Did you sneeze yet m8,lol , this is only the begining, crypto looking like a joke as i said before. Creating coins out of thin and doubling a billion $ supply and then exchanges allow this asset to be sold will ob have an effect on BTC.
I see $500 incoming as the struggle to $560 is almost over.

Hope you didnt lose anything at finex and if you wana be safe, go cold or use an exchange that doesnt sell etc...( theres a loop that is being used to drain btc btw )

I've taken some precautionary measures, and like anyone, I am not sure about whether I lost anything yet.  I did have some coins there, and I did send some coins there (that had not shown up as arriving) right before the site was shut down.  Still too early to panic, but surely any kinds of significant negative news does provide ammunition for further price downfalls, but also the price could reverse at any moment in the event that the news ends up being less bearish than originally anticipated... but yeah, this kind of news does increase the probabilities of lower lows in the short term (and possibly even in the longer term if the news gets worse and based on momentum).  Nonetheless, it is way too early to remove us from our current bull-market and overall uptrend.. even though in retrospect we may determine that the bull market had reversed (too early to call those things).

[ImI]

This is a disaster.

why?

[DaRude]

but no, we did no lose all or nearly all of the bitcoin.

So ...half?

looking at how they are reacting i bet it is a substantial amount.

He said the hack happened today. So not sure how many coins they could leak :/ but the starting point is from 0% to 49% which is already better than gox

[JayJuanGee]

Within about an hour or so before the shut down, I had just sent some BTC there too, and it did not show up in my bitfinex account balance, either.

Just one of the costs of doing business, gotta figure that in. You don't have your bitcoins unless you hold the private key.

"The life of a Bitcoin trader is always intense."

*that stuff people were saying about not panicking unless we go below 590? I hope they meant 490...

1) Even though you seem to be an idiot troll, I will respond to a few of your points, which are still valid in spite of your apparent trolling attempts [   ]

2) Yes, cost of doing business in bitcoin, and probably many other ventures that are in their development stages, is that sometimes there are going to be some costs and even unexpected costs and even potentially some malicious behaviors. [ ]

Did we learn anything about using exchanges as Beetcoin banks today JJG?

Also, why were you sending coins to BFX during this move?? I thought your strategy was to be buying more coins with filthy fiat during expected downturns like this, no?

I'm not even sure why I am responding to your nonsense, but I suppose I should not let your nonsense stand.

1)  "Did we learn anything about using exchanges as Beetcoin banks today JJG?" 

You are just being patronizing here, and really not worthy of any additional response.



2) "Also, why were you sending coins to BFX during this move?? I thought your strategy was to be buying more coins with filthy fiat during expected downturns like this, no?"


Yes.. correct is that I generally buy BTC as the price goes down and sell BTC as the price goes up.  that is correct.  But sometimes news events can change my general practice, and this could be one of those situations... at least in part.

 When I was moving coins to Bitfinex, that was before this particular news had occurred.  My transferring of coins in the normal course of business does not mean that I was either buying or selling those coins, and in this case, I was merely transferring some of my coins between accounts.

[savetherainforest]

This is a disaster.

why?

Let him sell...

This "crash" is a good thing happening!

[Luxasd]

This is potentially bigger than GOX
IT'S HAPPENING

[yugo23]

I don't really understand the reason of the down...

That's what bothers me the most, the unstability of the market and the lack of reasons for the change, or at least the lack of visible changes.

[podyx]

Out of all days my internet is down today.

Was supposed to sell at 590

Fucking shit

[DaRude]

I don't really understand the reason of the down...

That's what bothers me the most, the unstability of the market and the lack of reasons for the change, or at least the lack of visible changes.

Major exchange got hacked and completely stops trading. Scale of hack is less than 50% but otherwise unknown. Do you think this helps ETF? Stoli is probably writing another letter to SEC as i type this.

Plus Finex had $38MM in longs with some presumably are being under margin now

[UngratefulTony]

I don't really understand the reason of the down...

That's what bothers me the most, the unstability of the market and the lack of reasons for the change, or at least the lack of visible changes.

Really? You usually never have clear catalysts like we have for this one.

$655 to $595 was the complete lack of news relating to the Blockstream meeting with miners, i.e. 1MB4EVA + soft fork salad wins.

$595 to $??? was the reference exchange for USD getting hacked, made worse by the fact they don't do hot/cold wallets, just independent wallets with bitgo for their customers... which magically began emptying themselves this morning.

@JJG: I thought this might be the SFYL spark that got you to hodl your own BTC in your own wallet, guess not. 

[Spaceman_Spiff]

Son of a bitch....   I hope it is only a small percentage that is stolen.

[doc12]

Hope this does not end up the second gox, so we are fucked again for the next 2 years.

[gentlemand]

Do you think this helps ETF? Stoli is probably writing another letter to SEC as i type this.

The SEC is not going to take shitshows like Bitfinex into account. That's unregulated and a billion miles away. It's of no relevance to them. They're not going to care about what the price is doing either.

I assume the one of the main reasons Gemini exists is because of the necessity to show them there's an exchange that meets their requirements. Gemini is it.  

[Dafar]

It was nice knowing you guys... I'm done with bitcoin 



.... until the price rises again in a year or two