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

[savetherainforest]

Hahahaha... this is just atrocious!!! ... Pop that bubble asap!!! ... Don't let it breath! ... Kill it quick with fire!!!  

[Searing]

http://www.wsj.com/articles/bitcoin-sinks-after-exchange-reports-hack-1470195727
http://www.bloomberg.com/news/articles/2016-08-03/bitcoin-plunges-after-hackers-breach-h-k-exchange-steal-coins

Major news media are starting to pick up on it

yep they are gonna sell a lot of papers and web eyeballs....and wait for it at the end of the week when the miners say they are gonna say FU to bitcoin core
and fork

then we will have a pity party of epic proportions (the other shoe to drop)

FML

[beastmodeBiscuitGravy]

http://www.wsj.com/articles/bitcoin-sinks-after-exchange-reports-hack-1470195727
http://www.bloomberg.com/news/articles/2016-08-03/bitcoin-plunges-after-hackers-breach-h-k-exchange-steal-coins

Major news media are starting to pick up on it

yep they are gonna sell a lot of papers and web eyeballs....and wait for it at the end of the week when the miners say they are gonna say FU to bitcoin core
and fork

then we will have a pity party of epic proportions (the other shoe to drop)

FML

I would be buying that like a mofo, if it's any consolation.   

[savetherainforest]

Holy crap what a drop! What the hell happened to Bitfinex?
Really tired of all these exchanges imploding every now and then.

Lost my chance to exit at 600$.

Ok, I mean... we start again. As usual

This is fuckin AWESOME!!!!!  

 Hope it drops to $300 for 4 months or longer,that'll kill off the farm miners  

Back to CPU/GPU for a better decentralization  

Pfff ... Condolence, if you had coins there.    

No man don't worry. I'd have to rephrase. I did not have any coins there. I left finex a month ago (lucky one apparently)
I did not expect such a huge drop but I simply wanted to sell some at 600$ which is probably not going to happen now.

Your good fortune pleases me!   ... Maybe we will drink some day to it when we are billionairs and trillionairs..

[Xiaoxiao]

Is there a bitfinex replacement out there that offers leveraged trading to North American customers?

[savetherainforest]

Is there a bitfinex replacement out there that offers leveraged trading to North American customers?

Dunno... But I recommend exchanges that require you a ton of personal information and that don't keep the coins or fiat on the exchange... and need like 10 security verification protocols. At least those are safe if you are not afraid of the government, and if those countries have permissive laws towards bitcoin... Try to find a country that actually plans to encourage BTCitcoin.

(*Edit: This if you want to be a trader... if you want to just buy for your personal stash&hold, you can just buy from one of the mainstream exchanges I guess.)

[Elwar]

I had 31 BTC on Bitfinex. It was likely one of the hacked addresses.

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

[Gyrsur]

I had 31 BTC on Bitfinex. It was likely one of the hacked addresses.

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

sorry for your loss!!

i guess the same. Mt.Gox 2.0 120k bitcoins stolen. maybe an inside job?

BitFinex is done!

[Unacceptable]

I had 31 BTC on Bitfinex. It was likely one of the hacked addresses.

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

Sorry for your loss,but why keep ANY coins on an exchange for any length of time,cept long enough to trade with ??

Big no no most of us learned from Mt Gox implosion  

BTW 

[Gyrsur]

I had 31 BTC on Bitfinex. It was likely one of the hacked addresses.

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

Sorry for your loss,but why keep ANY coins on an exchange for any length of time,cept long enough to trade with ??

Big no no most of us learned from Mt Gox implosion 

huh, maybe to lend others for margin trading? thought about the same but was to lazy/busy to realize it.

[savetherainforest]

I had 31 BTC on Bitfinex. It was likely one of the hacked addresses.

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

They probably need to act fast on buying back the coins then... Since the price seems to be heading towards a new pump and a new bubble.  

My condolences!  

[Elwar]

The irony was that I took my 35 bitcoins off of Coinbase because I was getting tired of their shit. I figured I'd rather have it on Bitfinex where I can do some leveraged trading every once in a while if I saw the opportunity. Plus it was easier to withdraw money from there when I wanted to pay for things. At least I spent 4 of the coins, booked a flight to Vietnam for vacation.

31 wasn't much for me but I still hope they try to compensate everyone over time.

[Elwar]

The ironic thing is that I was going to take the $150k worth of bitcoins from the sale of my house and put it on Bitfinex so I could loan it out and get interest. I figured they had been stable for several years which is rare in the Bitcoin world.
Almost 2 months later and I'm still not finished moving it all to my cold storage address with all of the hoops I have to jump through to get it there.

[Coinnosaurus]

Something tells me that behind this hack could be bankers , it just doesn't make sense to steal a measly $65 mil when you can steal a lot more from banks

[savetherainforest]

Something tells me that behind this hack could be bankers , it just doesn't make sense to steal a measly $65 mil when you can steal a lot more from banks

Adjustment to inflation maybe taken in consideration by the thieves? ... Or maybe they are thieves that will use it for pumping since they are tired of waiting for the big bubble?

[gentlemand]

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

Ugh. That sucks the big one. At the very least they were upfront about it, but not quite upfront enough considering how long it seemed to last and how much did a runner. I still can't figure out a multisig address that allows someone to waltz in and rinse it.

[Elwar]

I hope they compensate all of the stolen coins. Though to do that they probably lose more money than they have which requires that they go fractional reserve which also means they eventually become Mt Gox 2.0.

 

Ugh. That sucks the big one. At the very least they were upfront about it, but not quite upfront enough considering how long it seemed to last and how much did a runner. I still can't figure out a multisig address that allows someone to waltz in and rinse it.

I'm not sure how that worked. They say Bitgo had one address, and it was 2 of 3 multi-sig so wouldn't that mean that Bitfinex had the other two addresses?
 
I certainly didn't have one of the three.

[gentlemand]

I'm not sure how that worked. They say Bitgo had one address, and it was 2 of 3 multi-sig so wouldn't that mean that Bitfinex had the other two addresses?
 
I certainly didn't have one of the three.

Me neither. Bitgo appeared on Twitter saying their lovely security hadn't been compromise in any way whatsoever - https://twitter.com/BitGo/status/760624908334346240

So, er, what were Bitfinex paying them for if what just happened is possible? It seems they had to set it up like that to please the US regulators who weren't allowing cold storage funds to be out for margin trading or something.

[sirazimuth]

cue  the next "bitcoin obituary" story in 3...2...1

https://99bitcoins.com/bitcoinobituaries/

taint nuthin but a thang....

[marcus_of_augustus]

!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!

This.

Very naive, asset needs to be liquid to have value. To be liquid we need a place to exchange it for other assets, and that exchange place needs to be able to handle needed volume, and to do that someone needs to hold a lot of cash and assets on said exchange

you're too mixed up in the failed fiat system ... how many coinz have you lost to the exchange hacks mr. sophisticated?

How much more naive could you get than idiots that hand over their wealth to gambling houses in the expectation of endless profits? (Spare me the self-justifying bullshit about "liquidity" Bitfinex was a casino.)

You rubes seem to have an infinite capacity to keep getting taken ... keep putting up those big fat pots of fail army dosh and it'll end up in stronger hands every time ...