Unacceptable
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August 10, 2016, 11:47:55 PM |
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The token is a notional credit, is dependent on the Bitfinex Group’s recovery of Losses, and is subordinated to any claims against the Bitfinex Group not related to the Losses. Recovery may include any of the following: recovery of stolen property; funds raised in one or more financings; and available cash from ongoing operations. The token has been issued to you without reduction of or other release or waiver of any claims you may have against the Bitfinex Group. Similarly, the Bitfinex Group has not waived any claims or defences it may have under the Terms of Use or otherwise should you choose to assert any claims independent of the token. The obligation evidenced by the token bears no interest and is not entitled to dividends, distributions, or other income amounts of any kind. The token is intended to be redeemed to the extent of its ratable share of the recoveries and may in any event at any time be redeemed by the Bitfinex Group at the Bitfinex Group’s sole option for its face value less the amount of any prior redemptions. annnnndd its worthless. i guess this means, its not a shares of bitfinex. and this token will shit out some money when/if they recover the stolen funds ( unlikely ) , get money from venture capitalist ( unlikely ), if bitfinex turns a net profit after they paid all expenses ( unlikely to be more than a few 1000$ a month distributed amongst 75million tokens....) worthlessness i see this token dropping to near zero i'm really fucking disappointed, i was looking forward to owning a piece of bitfinex. Here ya go!!! Sorry guys,hope you get something fer yer BFX
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marcus_of_augustus
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Eadem mutata resurgo
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August 10, 2016, 11:48:42 PM |
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looks like quiet a few people moved their coins to Kraken. At least the liquidity in the order book has increased quiet a bit on EUR/USD.
I like this development. Kraken really deserves more attention now.
PSA (with sad eyes) !!!DONT LEAVE YOUR COINZ ON THE EXCHANGES YOU FUCKING MORONS!!! not this discussion again... Good Luck without active traders on a exchange... You heavily need active traders to get decent liquidity overall. If you are a simple investor who buys once every 3 months it's different story for sure. Who said bitcoin needs "heavily active traders"? ... as far as I can tell they are bunch of useless leeches.
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chesthing
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August 11, 2016, 12:00:54 AM |
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looks like quiet a few people moved their coins to Kraken. At least the liquidity in the order book has increased quiet a bit on EUR/USD.
I like this development. Kraken really deserves more attention now.
PSA (with sad eyes) !!!DONT LEAVE YOUR COINZ ON THE EXCHANGES YOU FUCKING MORONS!!! not this discussion again... Good Luck without active traders on a exchange... You heavily need active traders to get decent liquidity overall. If you are a simple investor who buys once every 3 months it's different story for sure. Who said bitcoin needs "heavily active traders"? ... as far as I can tell they are bunch of useless leeches. Actually, useless leeches are those still left who mined bitcoins for free or bought them for a buck or less. Traders putting $600 into a coin once worthless is what makes it worth $600.
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marcus_of_augustus
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August 11, 2016, 12:07:49 AM |
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Actually, useless leeches are those still left who mined bitcoins for free or bought them for a buck or less. Traders putting $600 into a coin once worthless is what makes it worth $600.
... oh those "traders" who buy for $600 and sell for $601? Traders who panic sell and dump coins at any price? I luv that finex "bailed in" all the dollar positions, that made my day, fiat holders getting whacked for bitcoin hack ... haha!! How did that feel fiat chumps? Bitcoin needs leechy traders like a hole in the head. In fact the haxor holds the coinz stronger than the traders who left bitcoins on exchange ... what does that say about those "useful traders" ... look pretty useless from here?
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chesthing
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August 11, 2016, 12:09:43 AM |
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It's about adding liquidity. You think bitcoin would be worth fuck all without trading? I'm done arguing with an idiot, moving on now.
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marcus_of_augustus
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August 11, 2016, 12:21:31 AM Last edit: August 11, 2016, 12:37:47 AM by marcus_of_augustus |
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It's about adding liquidity. You think bitcoin would be worth fuck all without trading? I'm done arguing with an idiot, moving on now.
bitcoin has a lot of value without "trading" aka casino gambling, case in point bitcoins value came before there were exchanges. Your "liquidity" argument is vacuous when examined closely, it's just a feel good throwaway comment that has zero substance. Feel like lending out your coins on finex for 'liquidity' any time soon "stupid" "idiot"?
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LogHangingConsortium
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August 11, 2016, 12:26:01 AM Last edit: August 11, 2016, 12:50:56 AM by LogHangingConsortium |
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Actually, useless leeches are those still left who mined bitcoins for free or bought them for a buck or less. Traders putting $600 into a coin once worthless is what makes it worth $600.
... oh those "traders" who buy for $600 and sell for $601? Yeah, those are the ones who brought the price up from 600 to 601. And when the price falls, they buoy it up by buying @ 599, so it doesn't keep falling. And that's how the market works. I luv that finex "bailed in" all the dollar positions, that made my day, fiat holders getting whacked for bitcoin hack ... haha!! How did that feel fiat chumps?
What can I tell you? Another top-notch Bitcoin operation, doing what top-notch Bitcoin operations do: take your money and give you tokens :\ bitcoins value came before there were exchanges. If you want sub-$1 coins, like back in them good ol' days, that's certainly the way to fly. P.S. Is this the best way to track BFX tokens? https://www.bitmex.com/app/index/.BFXAre we allowed to talk about BFX, or is BFX B&?
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kobilica
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August 11, 2016, 12:47:31 AM Last edit: August 11, 2016, 10:56:56 AM by kobilica |
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-snip-
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marcus_of_augustus
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August 11, 2016, 01:06:41 AM |
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so bitfinex hacker could buy up all the 0.32 BFX tokens and then hand back the 119k btc? ... laundered coins for 32% ... not bad?
edit: could collect the $3.6 million bounty from bitfinex for 'recovering' coins too
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adamstgBit
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August 11, 2016, 01:42:51 AM |
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so bitfinex hacker could buy up all the 0.32 BFX tokens and then hand back the 119k btc? ... laundered coins for 32% ... not bad?
edit: could collect the $3.6 million bounty from bitfinex for 'recovering' coins too
he'd spend 30 million to get back 3.6 million + 119K BTC.
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adamstgBit
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August 11, 2016, 01:58:53 AM |
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50% voted they would dump them, yet less than 10% of these coin have been sold so far.
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marcus_of_augustus
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August 11, 2016, 02:00:25 AM |
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50% voted they would dump them, yet less than 10% of these coin have been sold so far.
voting is easy, selling is hard
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adamstgBit
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August 11, 2016, 02:17:28 AM Last edit: August 11, 2016, 03:06:00 AM by adamstgBit |
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50% voted they would dump them, yet less than 10% of these coin have been sold so far.
voting is easy, selling is hard you'd be getting a sweeeeeet deal @ .31 cents if you ask me. i mean wtf first these tokens have a MAX value of 60million because bitfinex will never pay back more then the sum of the hack, its says so here: intended to be redeemed to the extent of its ratable share of the recoveries
second this token will only ever give back some money if. 1) recovery of stolen property; 2) funds raised in one or more financings; 3) and available cash from ongoing operations 1) ya SURE that'll happen ( i guess it could but if the funds are not recovered within 24 hours they never are. ) 2) ya SURE poeple will surely invest fully knowing BFX will turn around and us that money to pay back the losses they incurred.... bitfinex: " Please isn't there a whale that can pay back everyone?? " 3) ya SURE bitfinex will start declaring profits ( not revenues which is what most of you calculate ) in excess of 1000BTC / month SURE! even if they did have 1000BTC left over after all the cost / salaries every month this would still mean it will take.... drum roll please 10 years! to get your money back. but they wont they are not THAT profitable, their employees need to eat dont they?!?!? plus this clause is so vague it doesn't explicitly say that ALL the profits would go to paying back the haircut... "available cash from ongoing operations" "available cash", https://www.youtube.com/watch?v=xUVz4nRmxn4this is nuts grab that .3183 and run! BFX tokens will remain outstanding until repaid in full by Bitfinex or exchanged for shares of iFinex Inc. sorry for the spelling mistakes, should of read what i wrote before posting ... lol wtv
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marcus_of_augustus
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August 11, 2016, 02:25:02 AM |
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^^ adam is haxor trying to panic troll BFX token holders into cheap selling
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adamstgBit
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August 11, 2016, 02:55:26 AM |
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The virtual coins created in commemoration of the BFX losses of 2016, to which people attribute sentimental value too. BFX
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Mrpumperitis
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August 11, 2016, 02:59:26 AM |
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OR are they: The virtual coins created in commemoration of the BFX losses of 2016, to which people attribute sentimental value too. charlie lee ...did you see him at DEVCON CLASSIC the other day ,lols https://www.youtube.com/watch?v=3Q3Bdtjo0X8&feature=youtu.bei feel for anyone that holds ltc
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adamstgBit
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August 11, 2016, 03:37:02 AM |
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yefi
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August 11, 2016, 03:48:44 AM |
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It's about adding liquidity. You think bitcoin would be worth fuck all without trading? I'm done arguing with an idiot, moving on now.
Well, there'd be a discount, as buying and selling OTC carries a natural penalty. I'm not sure it would be worth "fuck all" however. There are plenty of illiquid assets that possess speculative value.
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adamstgBit
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August 11, 2016, 04:37:39 AM |
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It's about adding liquidity. You think bitcoin would be worth fuck all without trading? I'm done arguing with an idiot, moving on now.
Well, there'd be a discount, as buying and selling OTC carries a natural penalty. I'm not sure it would be worth "fuck all" however. There are plenty of illiquid assets that possess speculative value. i'm with chesthing, "fuck all" is an exaggeration but obviously the biggest game in bitcoin town has been is likely to continue being for some time the buying and selling of bitcoins. collectively traders have a high degree of control over price... and not only add liquidity but also bring prices higher and prevent and major jump/dip, if it drops like 30% in 5 min, you can bet your ass traders will buy it back up to 50% fib No questions asked. IMO
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