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

[LogHangingConsortium]

^Adam said he's thinking about it. For his sake, I hope he's lying.

https://www.bitfinex.com/security_policy

[conspirosphere.tk]

hey its back up

https://www.bitfinex.com/

Now check your balances and prepare to trade your freshly minted BFXcoins.
It looks like we gonna need a BFXcoin wall observer thread too now -or maybe not, if they drop to zero and stay there as I would expect.

[adamstgBit]

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

[LogHangingConsortium]

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is?
Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can double our money in a week. No time to explain, you in?

[savetherainforest]

However, under Hong Kong law, Bitfinex will not be able to force creditors to accept its proposal. Unlike in the US and Japan, Hong Kong does not have a system of bankruptcy protection to facilitate a Bitfinex reorganization. By arguing that Bitfinex is insolvent, creditor lawsuits could force Bitfinex into liquidation where creditors can take control.

and of course no one has to accept it, i dont believe going to court would yield a better result or less of a haircut to BFX's users, but wtf do i know.

i would imagine the bigger players from BFX are talking to their lawyers now, it wont be long until we know for sure if they will take the settlement or go to court.

The crowd will demand confidence or retaliation... I don't see any other outcome! ... And maybe the other exchanges would participate in a small percentage on the bail-out.

The path to confidence is the best option .. but will the odds be in favor of confidence??    

[keewee]

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring  

[savetherainforest]

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring  

Maybe they where working on a new platform and it was in a beta stage... or they pulled a miracle out of their asses!   

[adamstgBit]

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

[adamstgBit]

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring  

this page?

https://i.imgsafe.org/7e26c6f700.png

[keewee]

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring  

this page?

https://i.imgsafe.org/7e26c6f700.png

That's the one! So much security...

[adamstgBit]

not to long ago, at bitfinex's Hong Kong office....



sure thing Ted!

[DaRude]

I don't see a single valid point in anyone arguing against BFX enabling withdrawals of 60% of user funds 

[DaRude]

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

BFX tokens != BFX shares, just an IOU. In the future (soon™) some users (non US?) might even be able to switch them for shares, thus setting up a secondary market for BFXtoken trading. But everyone should get distribution of BFX profits (if they'll ever occur) according to the amount of owned BFXtokens. Or at least how I read this.

[adamstgBit]

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

BFX tokens != BFX shares, just an IOU. In the future (soon™) some users (non US?) might even be able to switch them for shares, thus setting up a secondary market for BFXtoken trading. But everyone should get distribution of BFX profits (if they'll ever occur) according to the amount of owned BFXtokens. Or at least how I read this.

i read it as the BFX tokens are payment in full for the 36% they took away
and the actual meaning ( what they represent ) of "BFX tokens" is yet to be determined.

[DaRude]

shes growing

https://blockchain.info/address/35emx395afKAKAr72VoePVbu3FJvxLPVny

there is somthing strangely satisfying about watching unconfirmed TX accumulate

She's still growing up to almost BTC92k. Thought they lost ~60% of BTC ? Looks like they're already rebuying BTC with other assets somehow/somewhere?

[adamstgBit]

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820)   up to  1,190,000BTC  ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.


very rough numbers.

[DaRude]

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820)   up to  1,190,000BTC  ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.


very rough numbers.

Hacked BTC exchanged with negative equity and legal liabilities up to their necks is worth 7.5% of ALL btc created so far? Lately you've changed 

[adamstgBit]

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820)   up to  1,190,000BTC  ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.


very rough numbers.

Hacked BTC exchanged with negative equity and legal liabilities up to their necks is worth 7.5% of ALL btc created so far? Lately you've changed  

LMAO! yup.


but... assuming the deal sticks then they are 100% solvent again, and this time probably will actually have some serious security on there cold wallet.
so what is it worth somthing that nets profits to the tune of ~2000BTC / month worth?

hmmm.

i'm going to revise my numbers to 30million up to 200million.

 

[HI-TEC99]

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820)   up to  1,190,000BTC  ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.


very rough numbers.

Is the name of the new token BFX Omni? There's a reddit thread discussing the new setup and one post calls the tokens BFX Omni. I can't find anything else about them yet, but I only skimmed through most of the Bitfinex announcements and could have missed details about the tokens.

https://www.reddit.com/r/Bitcoin/comments/4wnfj6/bitfinex_is_back_up_functionality_disabled/

[Karartma1]

not to long ago, at bitfinex's Hong Kong office....



sure thing Ted!

Security of user information and funds is our first priority.
Every detail is analyzed to avoid security holes. We pride ourselves on being the most secure Bitcoin exchange.

Good, from now on, we know that losing roughly around 120K bitcoins it's something to be proud of.
 
Not even dignity is available anymore. That security page is quite disgusting.
The only security will come from the complete closure of the exchange