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Author Topic: lending on poloniex and bitfinex  (Read 2045 times)
gentlemand
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April 06, 2017, 04:57:05 PM
 #21

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

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April 06, 2017, 10:55:46 PM
 #22

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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gentlemand
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April 06, 2017, 11:02:24 PM
 #23

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.

Absolutely. It was handled with class but who knows what's around the corner? I presume they make enough in fees to cover a lot of eventualities but not all of them.

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April 07, 2017, 04:49:36 AM
 #24

Quickseller, also we can touch savings like Magnr.

I am pretty new, but i saw site where about 9 different Exhanges like Toro or BitMex. As i understand i can trade BTC there with higher shoulder. ( is that call fufures? ) Where all that guy taking BTC ti trade without lending?

Also Bitmarket Poland site. Do you know some thing about it? )


crazyivan, thank you. Security advises ever is good. About anti-key logger i even did not heard. Will search some info )
I am unsure of the legitimacy of Magnr, and cannot reasonably advise if it is some kind of scam or not. It looks like they are offering 1.28% APY on BTC deposits (per year), which is not much more than what you would expect to earn in a single month on bitfinex. For this reason alone, I would advise against depositing BTC there as you will almost certainly earn much less than alternatives, and will have less access to your funds.

I had never previously heard of Toro however I would advise against doing so. First of all, their website looks like little effort has been put into it. Secondarily, it looks like when you "invest" in this site, you are more investing in traders' actual positions (if they make money, you make money, if they lose money, you lose money), which is much riskier than giving a loan to fund traders' positions that gets repaid first when positions are closed.

BitMEx offers futures trading and AFAIK, no actual BTC is actually borrowed.

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April 07, 2017, 10:33:54 AM
 #25

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

They are being pretty careful about security though. Since the Cloudflare bug thing they've been manually approving large withdrawals, and there is a notice on their site asking people to enable 2FA.

If people are sensible and make sure that all their passwords are a) long and b) different on each site, plus enable 2FA they should be fine.

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April 07, 2017, 10:53:45 AM
 #26

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

I don't understand what you are saying because already Poloniex has been hacked, but at last, they recovered the losses and paid to all the members. Already they are providing lot of security measure to their members but what my concern is whether lending money is working fine with Poloniex or not.


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April 07, 2017, 10:56:11 AM
 #27

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

I don't understand what you are saying because already Poloniex has been hacked, but at last, they recovered the losses and paid to all the members. Already they are providing lot of security measure to their members but what my concern is whether lending money is working fine with Poloniex or not.

give me link please
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April 07, 2017, 12:28:28 PM
 #28

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

Or better. They could do the big Verning and run away with all the BTC and other coins. Its so easy to get away with it since altcoin exchanges arent regulated.
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April 07, 2017, 01:28:29 PM
 #29

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

Or better. They could do the big Verning and run away with all the BTC and other coins. Its so easy to get away with it since altcoin exchanges arent regulated.
You might be right in some cases, but I would like you to note that there is something like coinfirm.com and moreover, the bitcoins are traceable, you can check if they are being moved somewhere, or if they are just calmly waiting for the turn to dump.
I would also say that almost every time Bitcoin exchanges ( altcoin exchanges too ) hold most of their funds on offline wallets, so to get there, you need an exploit or sensitive data given from the inside.
There is also another possibility, as you already said: poloniex can just move bitcoins and run with them. But saying something like that implies that they won't have any troubles for doing that, and I cannot believe people are saying that every bitcoin exchange will run away with money sooner or later.



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April 08, 2017, 04:33:43 AM
 #30

I dont think you get or know what the big Verning is. I suggest you read up on the Cryptsy exchange scandal and see what happened there. To give a hint, its where the owner of the exchange himslef who tries to steal from its own users.
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April 08, 2017, 12:05:31 PM
 #31

I dont think you get or know what the big Verning is. I suggest you read up on the Cryptsy exchange scandal and see what happened there. To give a hint, its where the owner of the exchange himslef who tries to steal from its own users.

Everyone knows who Big Vern is.

The issue is, why do you think Poloniex is like Cryptsy? Where is your proof?

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April 09, 2017, 10:24:47 AM
 #32

The guy above me in my previous post seemed like he didnt know. I meant that not as an accusation to Poloniex but as a fact that the Verning did happen and it could happen again whatever the exchange is.
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April 10, 2017, 08:54:39 AM
 #33

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.

Absolutely. It was handled with class but who knows what's around the corner? I presume they make enough in fees to cover a lot of eventualities but not all of them.

Good question. But the takeaway of this, at least to me, is that they took the right path. Where most crumble and run off and go into hiding, they decided they would do the right thing, one way or another. I have a lot of respect for that.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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