|
WiiD (OP)
|
 |
April 18, 2017, 01:43:34 PM |
|
Why Bitfinex is at 1263 and Bitstampt at 1210?
|
|
|
|
|
|
|
|
|
|
Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
phatsphere
|
|
April 18, 2017, 01:47:27 PM |
|
less btc sellers on finex, probably because they fear something bad is already going on there. what's rather puzzling is why someone would buy btc at that premium at all. maybe some have no choice?
|
|
|
|
|
manselr
Legendary
 Offline
Activity: 868
Merit: 1004
|
|
April 18, 2017, 01:53:43 PM |
|
Has anyone tried doing arbitrage? should be easy to make free money by moving BTC there and selling then rebuying back on the cheaper exchange ad infinitum? whats the problem?
|
|
|
|
|
harizen
Legendary
Offline
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
|
|
April 18, 2017, 02:02:38 PM |
|
Has anyone tried doing arbitrage? should be easy to make free money by moving BTC there and selling then rebuying back on the cheaper exchange ad infinitum? whats the problem?
That is the concern. Why all of a sudden their rates become like that and really appealing for others to do an arbitrage trading. And to think that they have a recent problem, it's really doubtful to continue using their services. Well honestly I stopped trading there after their recent issues last year where all my balances turned into their own token. Bitfinex is my first exchanged that I used in trading but today I preferred other platforms after they totally ruined my trust to them. |
|
|
|
|
kaicrypzen
|
|
April 18, 2017, 02:29:56 PM |
|
Because wire deposits are paused ( https://www.bitfinex.com/posts/200). Since people can neither deposit nor withdraw fiat, they: - Buy BTC so that they can get their funds out, so the price goes up. - Can't do arbitrage, because if they buy Bitcoin cheaper elsewhere to sell it at a higher price on Bitfinex their fiat will be stuck there. |
|
|
|
digaran
Copper Member
Hero Member
Offline
Activity: 1330
Merit: 899
🖤😏
|
|
April 18, 2017, 02:38:43 PM |
|
Probably because their fiat accounts has been blocked and you can't withdrawal any fiat from there? but has anyone tried to deposit bitcoin and buy any of the alts they're trading? I agree it doesn't make any economic sense to offer $50 above the market price, maybe they are trying to pack their bags and run away?
|
🖤😏
|
|
|
|
VanDeinsberg12
|
|
April 18, 2017, 02:45:00 PM |
|
Probably because their fiat accounts has been blocked and you can't withdrawal any fiat from there? but has anyone tried to deposit bitcoin and buy any of the alts they're trading? I agree it doesn't make any economic sense to offer $50 above the market price, maybe they are trying to pack their bags and run away?
Did you mean if there is panic buy on the bitfinex market? I can't withdraw fiat on bitfinex the possible thing if i buy bitcoin and sold them in another site. |
| .......[url]CHOOSE LIFE ♦ CHOOSE SPACE ♦ CHOOSE FRIENDS...........[URL].....► C O M I N G S O O N..... |
|
|
|
|
WiiD (OP)
|
|
April 18, 2017, 02:54:22 PM |
|
Am I the only one thinking that this smells like Mt.Gox?
|
|
|
|
|
|
Sniper44
|
|
April 18, 2017, 03:04:33 PM |
|
Am I the only one thinking that this smells like Mt.Gox?
many are thinking it so you are not alone. but i don't think it is true. if they wanted to run away and scam they would have closed everything down. i may not have been around for Mt Gox but i remember Cryptsy well enough. they continued to give promise they open wallets but they never did. bitfinex crypto wallets are open and people are withdrawing cryptocurrencies. that is THE reason for price rise! |
to the moon with bitcoin...
|
|
|
|
Nagadota
|
|
April 18, 2017, 03:47:04 PM |
|
Am I the only one thinking that this smells like Mt.Gox?
many are thinking it so you are not alone. but i don't think it is true. if they wanted to run away and scam they would have closed everything down. i may not have been around for Mt Gox but i remember Cryptsy well enough. they continued to give promise they open wallets but they never did. bitfinex crypto wallets are open and people are withdrawing cryptocurrencies. that is THE reason for price rise! Sure, they could have left right after the hack, but now it looks like the price isn't actually backed by USD. It's like Tether, except Tether's balance sheets are what's making it clear they're failing to keep each USDT backed by a dollar, whereas with Bitfinex it's shady activities behind the scenes and long periods of no one actually knowing whether they'll be able to process fiat withdrawals in the future. The higher price on there is starting to prove that people might never get their money back. If I had funds on there I would have pulled them off ages ago. It won't be as bad as Gox though, since Bitfinex only controls a small amount of the market whereas Gox controlled most of it at the time. |
|
|
|
iqlimasyadiqa
Legendary
Offline
Activity: 1596
Merit: 1011
|
|
April 18, 2017, 04:07:22 PM |
|
Probably because their fiat accounts has been blocked and you can't withdrawal any fiat from there? but has anyone tried to deposit bitcoin and buy any of the alts they're trading? I agree it doesn't make any economic sense to offer $50 above the market price, maybe they are trying to pack their bags and run away?
I think it will not happen. we know that bitfinex is a great company. of course they have the confidence and very good security system. they would not leave us with poverty. |
|
|
|
|
BitMaxz
Legendary
Offline
Activity: 3234
Merit: 2942
Block halving is coming.
|
|
April 18, 2017, 04:11:23 PM |
|
Am I the only one thinking that this smells like Mt.Gox?
many are thinking it so you are not alone. but i don't think it is true. if they wanted to run away and scam they would have closed everything down. i may not have been around for Mt Gox but i remember Cryptsy well enough. they continued to give promise they open wallets but they never did. bitfinex crypto wallets are open and people are withdrawing cryptocurrencies. that is THE reason for price rise! I think for now they are just want to safe their bitcoin these next following months.. we know every year that there are trading site are down every year remember the other trading site before that we thought that it will not the same as other trading site but . they also hacked.. I think for bitfinex maybe the reason that is why the margin is different remember the last year happen so some investor just want their bitcoin safe.. |
|
|
|
BrewMaster
Legendary
Offline
Activity: 2114
Merit: 1292
There is trouble abrewing
|
|
April 18, 2017, 04:22:59 PM |
|
Probably because their fiat accounts has been blocked and you can't withdrawal any fiat from there? but has anyone tried to deposit bitcoin and buy any of the alts they're trading? I agree it doesn't make any economic sense to offer $50 above the market price, maybe they are trying to pack their bags and run away?
I think it will not happen. we know that bitfinex is a great company. of course they have the confidence and very good security system. they would not leave us with poverty. this was a funny post, specially since the wounds of bitfinex getting hacked is not yet healed completely. i mean it is not even 1 year since the hack incident and they have not yet paid their customers in full. ...and you say good security. and it has nothing to do with the current situation anyways. it is their Taiwan bank blocking their accounts! |
There is a FOMO brewing...
|
|
|
alyssa85
Legendary
Offline
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
|
|
April 18, 2017, 04:30:36 PM |
|
Bitfinex have had $180million in funds frozen by Wells Fargo and in addition none of the Taiwanese banks will deal with them.
Fiat withdrawals have stopped. So people are getting their money out by buying btc and withdrawing, hence the higher price (due to higher demand).
Don't deposit any money on bitfinex and if you have coins there, withdraw them - better safe than sorry.
|
|
|
|
richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
|
|
April 18, 2017, 04:52:08 PM |
|
Don't deposit any money on bitfinex and if you have coins there, withdraw them - better safe than sorry.
That would be the best possible way for people to react, but I am fairly sure that just a tiny fraction of them will actually do so. Most people will only learn when things cost them a heavy load of money, but then it's already too late to act. I am not trying to scare people off, but the Mtgox smell starts to become stronger and stronger. |
|
|
|
|
|
Boxman90
|
|
April 18, 2017, 05:09:25 PM |
|
Don't deposit any money on bitfinex and if you have coins there, withdraw them - better safe than sorry.
That would be the best possible way for people to react, but I am fairly sure that just a tiny fraction of them will actually do so. Most people will only learn when things cost them a heavy load of money, but then it's already too late to act. I am not trying to scare people off, but the Mtgox smell starts to become stronger and stronger. Well yes, that's by definition how it works if Bitfinex is insolvent - it basically becomes a ponzi scheme. Those few who get out get out, the rest is inevitably trapped. The USD trapped is always going to be trapped, by getting out you're only changing >who< gets trapped. The majority would inevitably end up trapped. |
LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
|
|
|
harizen
Legendary
Offline
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
|
|
April 18, 2017, 05:14:19 PM |
|
For those who have still trust and want to continue with Bitfinex then it's up to you. If they will still operate and become more stable then good for you but I just don't want to add some risk in my part that's why Im having a statement like that above and this post.
The recent hack last year is already enough in wrecking my trust against them after using them for years. Regret really happens at the end of the day and I don't want to wait for that "end of the day". Goodluck to all.
|
|
|
|
|
ImHash
|
|
April 18, 2017, 06:30:35 PM |
|
Bitfinex have had $180million in funds frozen by Wells Fargo and in addition none of the Taiwanese banks will deal with them.
Fiat withdrawals have stopped. So people are getting their money out by buying btc and withdrawing, hence the higher price (due to higher demand).
Don't deposit any money on bitfinex and if you have coins there, withdraw them - better safe than sorry.
How can people buy bitcoins when clearly the seller is not going to be able to withdrawal fiat themselves? so it's kind of a trap for sellers right? Unless they have their own coins and selling their own coins at high prices with this opportunity? What ever you do right now in bitfinex will result in one way trap of your money stuck whether you trade btc or other altcoins you can't take out any fiat. |
|
|
|
|
kwukduck
Legendary
Offline
Activity: 1937
Merit: 1001
|
|
April 18, 2017, 07:03:09 PM |
|
Try withdrawing your fiat, you can't.
That's why you buy BTC at a premium to withdraw that and sell on another exchange to cut their losses, nothing but smart trading.
Finex is going to be MtGox all over again so you have a choice; 1) Lose everything. 2) Buy BTC at premium and cash out at other exchange and take your small losses.
And yes, this is basically a trap for sellers, people that don't know what's going on and think they can sell their btc at a premium.
|
14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
|
|
|
|
mike4001
|
|
April 18, 2017, 07:10:48 PM |
|
How can people buy bitcoins when clearly the seller is not going to be able to withdrawal fiat themselves? so it's kind of a trap for sellers right? I assume people who sell BTC at the moment expect that they can withdraw FIAT again in the coming days/weeks. I also still trust Bitfinex that they will find a solution. I acutually think this was bound to happen sooner or later that banks will try to stop dealings with cryto-exchanges and I don´t really see the fault 100% on Bitfinex's side. Other exchanges just don´t accept FIAT at all because of this problemactic. |
|
|
|
|
|
