Bitfinex- bank blocked all their deposits

[mayax]

..snip..
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.

if you are talking about the 2013 gox price then it was "catapulted" from less than $200 to above $1100 in nearly 2 months.
and no one likes that to happen again unless you are a fiat fan and want to take your fiat out of bitcoin and give up on bitcoin.

Do not be a plaster saint. We all know that the fiat value of Bitcoin still and will always matter to you, to me and everyone else. Why do you think many people in Bitcoin love to speculate on the price? If you have found a new way to measure Bitcoin's value do not hesitate to tell us.

i don't know what "plaster saint means"
and i am not talking about "the price" i am talking about "how the price get there". nobody wasnts a fast price rise leading to a bubble and then bubble bursting and price coming down.
we all want bitcoin price to rise up, obviously. but most of all we want it to stay there. that is why we prefer a more stable and slow rise.

someone who wants more fiat and doesn't care about bitcoin price wants the opposite. they want the price to rise up fast so they can cash out and then after the dump buy back in and cash out again with more fiat.

Plaster saint means hypocrite. You make it appear in your first reply to me that only fiat fans want the price of Bitcoin to go up. Are you not a fiat fan? Of course you are, we all are!

There are a few people on the forum that hate fiat. They live in a fantasy land where Bitcoin is the world currency and there is no government, big banks or taxes because Bitcoin washed it all away. Government is a tiny little thing who's only real job is annual mosquito control at lakes and ponds. Everyone is free to rape, pillage, do drugs, shoot machine guns in their back yard and generally do anything they want to do. When I was young we called these type of people lunatics. Today they're called libertarians. LOL

The minute these libertarians get their Bitcoins stolen or if an exchange fails, where would they run most likely? Yes the government that they hate so much.

SO TRUE !   Great point !

[stompix]

These are not personal attacks, I'm just letting you know how it feels

You've been warned that you won't be able to sidestep or otherwise obfuscate this issue. You said that people prefer fiat to Bitcoin, care to explain finally how this is ever possible when Bitcoin price is rising? My conclusion is the same, no need to muddle waters here. The net effect is that people prefer to keep their bitcoins, not dump them. But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round. How many times should I repeat that? Further, it is FIAT withdrawals that are disabled at Bitfinex, and only USD withdrawals at that, so no need to make it look as if all withdrawals are disabled there. You can still withdraw to Swiss franc and Hong-King dollar (via individual requests), apart from crypto, obviously

If people really wanted to dump their coins for fiat, they would withdraw these coins to other exchanges and sell them there. That would necessarily cause the prices to crash everywhere except Bitfinex (now think how stupid your remarks sound and your antics look even if you can't understand how markets work), and likely at Bitfinex too (though the spread would probably widen). I'm trading there myself and unless Bitfinex is going to scam, I don't give a fuck about fiat withdrawals being disabled. In fact, I give a fuck, but certainly not in the way you may think. People are looking to multiply their profits and these profits are certainly counted in bitcoins, not fiat

Hahaha , profits are counted in bitcoins .
This is the kind of sidestepping you're doing continuously.

If people are counting their profits in bitcoins why the hell are you talking about the price rise in USD?
Simply, because that is all that matters. In this world right now people don't give a damn on anything else than what a bitcoin is worth in usd. IN FIAT!.

But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round.

The same happened 3 years ago, with the mtgox fiasco.
Where people pouring money into btc? Well, they did poured a lot of money so when the bubble burst we went down to 400.
Funny how at that time you could withdraw yen but not usd, now you can with honk dong dollars.

Still no answer why people who prefer bitcoins are not buying into the 129 spread.
Probably cause they prefer to stay away from this if it blows the same at mtgox.

You can't do anything else than attacks and

weak

ones, probably cause you're having trouble expressing yourself in a civilized way so don't bother anymore.

[OmegaStarScream]

Anything changed in the last a few days? because I see a huge trading volume with BTC/USD and other alts/USD. I believe that they never had a higher trading volume then they have right now so how is this possible If the accounts are freezed. and how come that they are the only one having 1410$ = 1BTC?

[deisik]

These are not personal attacks, I'm just letting you know how it feels

You've been warned that you won't be able to sidestep or otherwise obfuscate this issue. You said that people prefer fiat to Bitcoin, care to explain finally how this is ever possible when Bitcoin price is rising? My conclusion is the same, no need to muddle waters here. The net effect is that people prefer to keep their bitcoins, not dump them. But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round. How many times should I repeat that? Further, it is FIAT withdrawals that are disabled at Bitfinex, and only USD withdrawals at that, so no need to make it look as if all withdrawals are disabled there. You can still withdraw to Swiss franc and Hong-King dollar (via individual requests), apart from crypto, obviously

If people really wanted to dump their coins for fiat, they would withdraw these coins to other exchanges and sell them there. That would necessarily cause the prices to crash everywhere except Bitfinex (now think how stupid your remarks sound and your antics look even if you can't understand how markets work), and likely at Bitfinex too (though the spread would probably widen). I'm trading there myself and unless Bitfinex is going to scam, I don't give a fuck about fiat withdrawals being disabled. In fact, I give a fuck, but certainly not in the way you may think. People are looking to multiply their profits and these profits are certainly counted in bitcoins, not fiat

Hahaha , profits are counted in bitcoins .
This is the kind of sidestepping you're doing continuously.

If people are counting their profits in bitcoins why the hell are you talking about the price rise in USD?
Simply, because that is all that matters. In this world right now people don't give a damn on anything else than what a bitcoin is worth in usd. IN FIAT!.

But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round.

The same happened 3 years ago, with the mtgox fiasco.
Where people pouring money into btc? Well, they did poured a lot of money so when the bubble burst we went down to 400.
Funny how at that time you could withdraw yen but not usd, now you can with honk dong dollars.

Still no answer why people who prefer bitcoins are not buying into the 129 spread.
Probably cause they prefer to stay away from this if it blows the same at mtgox.

You can't do anything else than attacks and

weak

ones, probably cause you're having trouble expressing yourself in a civilized way so don't bother anymore

I think you are a lot more "uncivilized" than myself with all your clowning around here

Regarding the Mt. Gox crash, I expected that you would bring up this issue sooner or later. Now you have to explain what it has to do with current situation. Just a reminder, prices crashed back then while today they are growing. So, as I can see it, this is not a valid reference, but you may of course be of different opinion. Simply put, I don't care

Still no answer why people who prefer bitcoins are not buying into the 129 spread

If prices are rising, it necessarily means that demand surpasses supply. If you have problems with inferences, that means that people are buying more bitcoins than selling them. Learn it finally

[deisik]

These are not personal attacks, I'm just letting you know how it feels

You've been warned that you won't be able to sidestep or otherwise obfuscate this issue. You said that people prefer fiat to Bitcoin, care to explain finally how this is ever possible when Bitcoin price is rising? My conclusion is the same, no need to muddle waters here. The net effect is that people prefer to keep their bitcoins, not dump them. But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round. How many times should I repeat that? Further, it is FIAT withdrawals that are disabled at Bitfinex, and only USD withdrawals at that, so no need to make it look as if all withdrawals are disabled there. You can still withdraw to Swiss franc and Hong-King dollar (via individual requests), apart from crypto, obviously

If people really wanted to dump their coins for fiat, they would withdraw these coins to other exchanges and sell them there. That would necessarily cause the prices to crash everywhere except Bitfinex (now think how stupid your remarks sound and your antics look even if you can't understand how markets work), and likely at Bitfinex too (though the spread would probably widen). I'm trading there myself and unless Bitfinex is going to scam, I don't give a fuck about fiat withdrawals being disabled. In fact, I give a fuck, but certainly not in the way you may think. People are looking to multiply their profits and these profits are certainly counted in bitcoins, not fiat

Hahaha , profits are counted in bitcoins .
This is the kind of sidestepping you're doing continuously.

If people are counting their profits in bitcoins why the hell are you talking about the price rise in USD?
Simply, because that is all that matters. In this world right now people don't give a damn on anything else than what a bitcoin is worth in usd. IN FIAT!.

But since the price is rising at all markets that necessarily means that they are pouring fiat into Bitcoin, not the other way round.

The same happened 3 years ago, with the mtgox fiasco.
Where people pouring money into btc? Well, they did poured a lot of money so when the bubble burst we went down to 400.
Funny how at that time you could withdraw yen but not usd, now you can with honk dong dollars.

Still no answer why people who prefer bitcoins are not buying into the 129 spread.
Probably cause they prefer to stay away from this if it blows the same at mtgox.

You can't do anything else than attacks and

weak

ones, probably cause you're having trouble expressing yourself in a civilized way so don't bother anymore

I think you are a lot more "uncivilized" than myself with all your clowning around here

Regarding the Mt. Gox crash, I expected that you would bring up this issue sooner or later. Now you have to explain what it has to do with current situation. Just a reminder, prices crashed back then while today they are growing. So, as I can see it, this is not a valid reference by any means, but you may of course be of different opinion. Simply put, I don't care

Still no answer why people who prefer bitcoins are not buying into the 129 spread

If prices are rising, it necessarily means that demand surpasses supply. If you have problems with inferences (which is what I referred to by you being "weak", your reasoning is weak), that means that people are buying more bitcoins than selling them. Learn it finally and accept it at last. Exactly in this case, it means that at Bitfinex people are more actively buying bitcoins than at other exchanges, but prices have risen a lot there too. And it means just that, that people are buying bitcoins. Apart from that, I'm curious where you got this figure from. Right now, the price at Bitfinex is at 1,414 while at Coinbase at 1,341 dollars per coin

If people are counting their profits in bitcoins why the hell are you talking about the price rise in USD?

Because people are (mostly) buying bitcoins with dollars. What other questions are not clear to you?

[mindrust]

The minute these libertarians get their Bitcoins stolen or if an exchange fails, where would they run most likely? Yes the government that they hate so much.

Bitcoins are rarely stolen from personal computers. If you're holding a large amount, invest in a separate laptop. You can even encrypt it if you're worried about home invasion. Put a bit of effort into storing your own bitcoins and you'll have nothing to worry about. The end result is equal to the effort applied.  

Keep in mind that if someone does invade your house and steal your bitcoins, this is in fact god punishing you, forcing you to pay for your own debts. 

Omg you people are making me so sad. Putting your coins into a separate laptop and encrypt the whole system. Jeez.

If you are afraid of getting robbed, then why don't you just memorize the private key? Lock it in your brain. It is easier than you think. Divide the whole private key into 5-6 parts and memorize them one after the other. Are you too dumb for this?

You don't need computers, papers, memory/usb sticks, cloud storage, cellphones while you got your brain functioning. The question is; is it functioning?

[stompix]

I think you are a lot more "uncivilized" than myself with all your clowning around here

Regarding the Mt. Gox crash, I expected that you would bring up this issue sooner or later. Now you have to explain what it has to do with current situation. Just a reminder, prices crashed back then while today they are growing. So, as I can see it, this is not a valid reference by any means, but you may of course be of different opinion. Simply put, I don't care

Wow, was mt gox so far away , 3 millennia that you don't remember?
What is had to do with current situation?

Let's remember feb 2014, shall we?
People can't get bitcoins out of gox, bitcoin prices crash against usd. On all exchangers.
April 2017.
People can't' get usd out of bitfinex, usd prices crash against bitcoin. On all exchangers.


September 2013 , problems with cash withdrawals on Mt gox.
Price of bitcoin is soaring
April 2017, problems with cash withdrawals on Bitfinex.
Price of bitcoin is soaring


Probably that was too hard for you let's try a simpler version.


You can withdraw bitcoins, honk donk dolalrs from Bitfinex.  Price at 1420.
You can withdraw bitcoins , hon konk dollars and real dollars from btc-e. Price at 1290.


So only the availability of usd withdrawals keeps the spread at close to 130$.

[deisik]

I think you are a lot more "uncivilized" than myself with all your clowning around here

Regarding the Mt. Gox crash, I expected that you would bring up this issue sooner or later. Now you have to explain what it has to do with current situation. Just a reminder, prices crashed back then while today they are growing. So, as I can see it, this is not a valid reference by any means, but you may of course be of different opinion. Simply put, I don't care

Wow, was mt gox so far away , 3 millennia that you don't remember?
What is had to do with current situation?

Let's remember feb 2014, shall we?
People can't get bitcoins out of gox, bitcoin prices crash against usd. On all exchangers.

When the prices start crashing, then you can start claiming that people prefer fiat to Bitcoin

But right now it is the other way round, any way you look at it. You, personally, may not even look at it altogether, your opinion is irrelevant anyway. So far people can withdraw coins from Bitfinex, and it should be pretty obvious that the current situation has nothing in common with what happened at Mt. Gox. Bitfinex is not the first exchange which has issues with fiat withdrawals. Btc-e, which you mentioned, had absolutely the same problems some time ago (and with the same Taiwanese banks, by the way). And this doesn't cause Bitcoin prices to crash, despite your claims. Somehow, it only makes Bitcoin more expensive across all markets, which, as I said earlier, completely invalidates your claims (that people prefer fiat to Bitcoin). And just in case, you cannot withdraw Hong-Kong dollars from Btc-e, this currency is not even listed there. I'm trading there too, for your information

[stompix]

I love how you deny history all the way.
On last question, are those FACTS true or not?

September 2013, problems with cash withdrawals on Mt gox , no payment completed since the start of the month.
Price of bitcoin is soaring
April 2017, problems with cash withdrawals on Bitfinex.
Price of bitcoin is soaring


Hahaha, this is gold:
https://bitcointalk.org/index.php?topic=329805.40

[deisik]

I love how you deny history all the way.
On last question, are those FACTS true or not?

September 2013, problems with cash withdrawals on Mt gox , no payment completed since the start of the month.
Price of bitcoin is soaring
April 2017, problems with cash withdrawals on Bitfinex.
Price of bitcoin is soaring

I guess you should first explain how these "facts" are related to your original claim

Which was about people preferring fiat to Bitcoin, I have to remind you. I specifically mention it again and again since, first, it was evident right from the start that you would try to sidestep this claim just because your claim is untenable right now (for the reasons I explained above), and, second, as I told you also, that trick wouldn't work. You still have to explain coherently how people can possibly prefer fiat to Bitcoin in circumstances when Bitcoin prices are rising everywhere (including the exchanges where fiat withdrawals are not limited)

[stompix]

Yeah , how the hell should I explain this to the guy that was cheering up how Mt Gox was going up with no usd withdrawals available at that time
Also I love how you try to use lots of words these days to say nothing. A requirement or some sort of?

[deisik]

Yeah , how the hell should I explain this to the guy that was cheering up how Mt Gox was going up with no usd withdrawals available at that time
Also I love how you try to use lots of words these days to say nothing. A requirement or some sort of?

I'm just practicing my language skills to the limit

Really, why waste time and space? Anyway, Mt. Gox is irrelevant since this is not what your point is about (nor is it even remotely related). Even if Bitfinex is going to scam (which I doubt, though I have vested interests in them not to scam, so I may be biased), this won't change a thing. Bitfinex had already been monumentally hacked in the past (since you love history so much, you should know that story too). And the price went down some 50 dollars (around 10% in those prices), though in a month or so it fully recovered and then went exponential since September-October last year. So, at max, we will see a correction down to 1,000-900 dollars per coin but that's pretty much all that the buyers of panic sellers should hope for. Ultimately, SegWit activation (or lack thereof) will have a more profound and lasting effect on prices than Bitfinex USD withdrawal issues, which are just a minor aberration or anomaly over long term (if they don't scam, of course)

[leopard2]

~snipped~

As I said, you won't be able to sidestep the issue, talk it away, or otherwise wash it out

My reasoning is pretty simple (and I expect you to come up with something as simple), i.e. if Bitcoin price is overall rising (which it is), it tells that people prefer Bitcoin to fiat. I don't really know how you can interpret it any other way, let alone claim that people buy Bitcoin because they prefer fiat. But that's what all your arguments can be reduced to

When explanation are not working the way you wished for you're bringing the discussion to the starting point and asking again the same stuff.
No, this is not how it works.

You're doing right now the sidestepping.
And if you want a real discussion you should also start answering questions. And that bold one I've asked there would be perfect.

So:

Why in the name of god do we have a 125 dollar spread right now?

Because they can only send money to Taiwan bank accounts. Most people do not have one.

Y U NO READ COINDESK?

[xypos]

Im sure that this event was extremely frightening for people who held big amounts of money or BTC in there.
That had to be a shock for some of those people, because the price of BTC on bitfinex has increased very quickly. People started to buy the supply with the USD stored on account to transfer the funds out of the exchange: because they have blocked wire transfers ( bank blocked deposits, as in thread ).
It has caused a massive price increase after some time, people are probably still doing this if they haven't found out before.

Luckily, trading volume on bitfinex was not so high so it did not influence bitcoin a lot.

[erikalui]

I heard that the bitcoin price increased due to this bitfinex controversy but what happened to those who had their money stuck with this exchange? They managed to withdraw their money in BTC? I heard problems only exist with fiat withdrawals and users' accounts were still working. The price currently on bitfinex is 1428 while on regular exchanges, it is 1375.

[MingLee]

I heard that the bitcoin price increased due to this bitfinex controversy but what happened to those who had their money stuck with this exchange? They managed to withdraw their money in BTC? I heard problems only exist with fiat withdrawals and users' accounts were still working. The price currently on bitfinex is 1428 while on regular exchanges, it is 1375.

I hope you're looking at something that isn't in USD because BTC-E is showing Bitcoin at $1290 and Bitfinex is showing Bitcoin at $1430. I can't find anything that isn't a massively inflated price.
This thing with bitfinex is completely fucking the market, since everywhere is selling their Bitcoin at a weird value and there is next to no unity between exchanges and their values now differ by $50-$100. This is going to have a huge impact on the market once it gets sorted out, because exchanges everywhere are going to have to correct.

[erikalui]

I heard that the bitcoin price increased due to this bitfinex controversy but what happened to those who had their money stuck with this exchange? They managed to withdraw their money in BTC? I heard problems only exist with fiat withdrawals and users' accounts were still working. The price currently on bitfinex is 1428 while on regular exchanges, it is 1375.

I hope you're looking at something that isn't in USD because BTC-E is showing Bitcoin at $1290 and Bitfinex is showing Bitcoin at $1430. I can't find anything that isn't a massively inflated price.
This thing with bitfinex is completely fucking the market, since everywhere is selling their Bitcoin at a weird value and there is next to no unity between exchanges and their values now differ by $50-$100. This is going to have a huge impact on the market once it gets sorted out, because exchanges everywhere are going to have to correct.

I checked Google and Blockchain where the USD price is currently 1351. Why does BTC-e show 1290?
Yeah, I agree that because of bitfinex, the price difference is huge on every exchange and website but still a $60 difference doesn't make sense as the buyers would ultimately suffer by buying bitcoins at such a high price. Now each exchange has a $20 difference.

[MingLee]

I heard that the bitcoin price increased due to this bitfinex controversy but what happened to those who had their money stuck with this exchange? They managed to withdraw their money in BTC? I heard problems only exist with fiat withdrawals and users' accounts were still working. The price currently on bitfinex is 1428 while on regular exchanges, it is 1375.

I hope you're looking at something that isn't in USD because BTC-E is showing Bitcoin at $1290 and Bitfinex is showing Bitcoin at $1430. I can't find anything that isn't a massively inflated price.
This thing with bitfinex is completely fucking the market, since everywhere is selling their Bitcoin at a weird value and there is next to no unity between exchanges and their values now differ by $50-$100. This is going to have a huge impact on the market once it gets sorted out, because exchanges everywhere are going to have to correct.

I checked Google and Blockchain where the USD price is currently 1351. Why does BTC-e show 1290?
Yeah, I agree that because of bitfinex, the price difference is huge on every exchange and website but still a $60 difference doesn't make sense as the buyers would ultimately suffer by buying bitcoins at such a high price. Now each exchange has a $20 difference.

Looking at BTC-E right now and they're shoing $1307 for their last trade, but that's also after a huge green candle and I don't know if it's sustainable or a lot of volume moving in a short period of time. The highest I saw it go up to over the course of the past week was around $1330, 3 days ago I believe.
I like to think that a lot of exchanges operate in their own little bubble and there isn't a ton of overlap so the overall amount of arbitrage is low, resulting in discrepancies like this. No idea why these kinds of differences exist, but I like to think a savvy investor somewhere is exploiting the differences.

[hello_good_sir]

Im really sorry for all those people who have held a lot of funds in USD at the bitfinex in the moment when the wire transfers was suspended, that had to cost you a lot of nerves.
Luckily, if you was fast enough, the price of getting the funds out of there was not so high, anyway it is still frightening for all of us. I would treat bitfinex and all these exchanges who have issues with banks, as a warning sign that we should never hold our money at some exchanges.
Do it only when you want to convert, dont even hold a single satoshi in there: obviously most of the crypto exchanges are trusted and widely known nowadays, but that still might be a hacking attack or anything.

Just dont do it, it is better to stay safe instead of risking the money.

[Wind_FURY]

..snip..
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.

if you are talking about the 2013 gox price then it was "catapulted" from less than $200 to above $1100 in nearly 2 months.
and no one likes that to happen again unless you are a fiat fan and want to take your fiat out of bitcoin and give up on bitcoin.

Do not be a plaster saint. We all know that the fiat value of Bitcoin still and will always matter to you, to me and everyone else. Why do you think many people in Bitcoin love to speculate on the price? If you have found a new way to measure Bitcoin's value do not hesitate to tell us.

i don't know what "plaster saint means"
and i am not talking about "the price" i am talking about "how the price get there". nobody wasnts a fast price rise leading to a bubble and then bubble bursting and price coming down.
we all want bitcoin price to rise up, obviously. but most of all we want it to stay there. that is why we prefer a more stable and slow rise.

someone who wants more fiat and doesn't care about bitcoin price wants the opposite. they want the price to rise up fast so they can cash out and then after the dump buy back in and cash out again with more fiat.

Plaster saint means hypocrite. You make it appear in your first reply to me that only fiat fans want the price of Bitcoin to go up. Are you not a fiat fan? Of course you are, we all are!

There are a few people on the forum that hate fiat. They live in a fantasy land where Bitcoin is the world currency and there is no government, big banks or taxes because Bitcoin washed it all away. Government is a tiny little thing who's only real job is annual mosquito control at lakes and ponds. Everyone is free to rape, pillage, do drugs, shoot machine guns in their back yard and generally do anything they want to do. When I was young we called these type of people lunatics. Today they're called libertarians. LOL

The minute these libertarians get their Bitcoins stolen or if an exchange fails, where would they run most likely? Yes the government that they hate so much.

Oh yeah, they've proven that multiple times with pirate, BFL, MtGox,  FeedZBirds, SatoshiDice IPO, Bitscalper, etc.

In fact, running to mommy government is so annoying for the SEC that they made their own bitcoin scammer website. LOL
 https://investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-alert-bitcoin-other-virtual-currency#.U2uV1PldV1Y  

The libertarians should start trying to look out for themselves and the whole Bitcoin community without the need for the government to intervene. But what can they do? They will always need the government they despise.