[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[Sukrim]

Yeah, I should have written "postal address".

[1715176939]

1715176939

[1715176939]

1715176939

[1715176939]

1715176939

[1715176939]

1715176939

[1715176939]

1715176939

[davidgdg]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each 😉😉😉

[deisik]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

I sent there a few litecoins for testing purposes, I sold them, bought again, then sold one time more, though missed the recent surge in Litecoin prices. But I haven't yet tried to withdraw anything from this exchange. I actively traded at Bitfinex in the summer and autumn of 215, but I had been lucky to withdraw everything later in the year, thus I was affected by the hack in last August. Regarding the BFX tokens, I heard they recently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

[Bonez0r]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

[monsanto]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

I sent there a few litecoins for testing purposes, I sold them, bought again, then sold one time more, though missed the recent surge in Litecoin prices. But I haven't yet tried to withdraw anything from this exchange. I actively traded at Bitfinex in the summer and autumn of 215, but I had been lucky to withdraw everything later in the year, thus I was affected by the hack in last August. Regarding the BFX tokens, I heard they decently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

Actually there is a market on Bitfinex where the BFX tokens are traded. Two actually, for USD or BTC.  As I write this the USD market price is around 97 cents. So instead of waiting 20 years for 100% someone could recoup 97% of their loss right now (Unless the loss was in the many hundreds of thousands of dollars, which might affect the liquidity of the BFX markets).

[deisik]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

I sent there a few litecoins for testing purposes, I sold them, bought again, then sold one time more, though missed the recent surge in Litecoin prices. But I haven't yet tried to withdraw anything from this exchange. I actively traded at Bitfinex in the summer and autumn of 215, but I had been lucky to withdraw everything later in the year, thus I was affected by the hack in last August. Regarding the BFX tokens, I heard they decently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

Actually there is a market on Bitfinex where the BFX tokens are traded. Two actually, for USD or BTC.  As I write this the USD market price is around 97 cents. So instead of waiting 20 years for 100% someone could recoup 97% of their loss right now (Unless the loss was in the many hundreds of thousands of dollars, which might affect the liquidity of the BFX markets)

If only you could know how I expected someone coming up with something like this

But you made a perfectly legit remark about liquidity, since that's what ultimately counts, not the price itself. I don't follow the BFX price charts (for obvious reasons, I didn't lose anything there) but I suspect there are very abrupt drops in the value of this "debt token" when someone big finally decides to fix his losses and sell his BFX tokens. I guess that for correct estimation we should rather look at what their price would be if all Bitfinex "creditors" decided to redeem these tokens. That would show us the state of affairs at this exchange in respect to their debt

[Bonez0r]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

I sent there a few litecoins for testing purposes, I sold them, bought again, then sold one time more, though missed the recent surge in Litecoin prices. But I haven't yet tried to withdraw anything from this exchange. I actively traded at Bitfinex in the summer and autumn of 215, but I had been lucky to withdraw everything later in the year, thus I was affected by the hack in last August. Regarding the BFX tokens, I heard they decently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

Actually there is a market on Bitfinex where the BFX tokens are traded. Two actually, for USD or BTC.  As I write this the USD market price is around 97 cents. So instead of waiting 20 years for 100% someone could recoup 97% of their loss right now (Unless the loss was in the many hundreds of thousands of dollars, which might affect the liquidity of the BFX markets)

If only you could know how I expected someone coming up with something like this

But you made a perfectly legit remark about liquidity, since that's what counts, not the price itself. I don't follow the BFX price charts (for obvious reasons, I didn't lose anything) but I suspect there very abrupt drops in the value of this "debt token" when someone big finally decide to fix his losses and sell his BFX tokens. I guess for correct estimation we should rather look at what their price would be if all Bitfinex "creditors" decided to redeem this tokens. That would show the state of affairs at this exchange in respect to their debt

That doesn't make sense. There are lots of people who are happy to buy those tokens at a low price and have put up buy orders. I'm one of them. Also, if the price would drop to, say $0.75 or $0.50, people would stop selling. The price has hovered between $0.5-0.6 for a long time until people realized it's easy money to buy them that cheap and almost double your money later, that's why it's close to $1 now and i don't think it will go below $0.9 again.

And i think Bitfinex has paid off about 15% now. They usually redeem around 5% at the beginning of each month.

[deisik]

If only you could know how I expected someone coming up with something like this

But you made a perfectly legit remark about liquidity, since that's what counts, not the price itself. I don't follow the BFX price charts (for obvious reasons, I didn't lose anything) but I suspect there very abrupt drops in the value of this "debt token" when someone big finally decide to fix his losses and sell his BFX tokens. I guess for correct estimation we should rather look at what their price would be if all Bitfinex "creditors" decided to redeem this tokens. That would show the state of affairs at this exchange in respect to their debt

That doesn't make sense. There are lots of people who are happy to buy those tokens at a low price and have put up buy orders. I'm one of them. Also, if the price would drop to, say $0.75 or $0.50, people would stop selling. The price has hovered between $0.5-0.6 for a long time until people realized it's easy money to buy them that cheap and almost double your money later, that's why it's close to $1 now and i don't think it will go below $0.9 again.

And i think Bitfinex has paid off about 15% now. They usually redeem around 5% at the beginning of each month.

What exactly doesn't make sense?

Those who are selling them below parity are fixing losses, you simply can't deny this fact. Indeed people will stop selling these tokens below some value since they don't want that. You are a buyer as you said yourself, and you are obviously evaluating the situation from a buyer's perspective, but try walking in the shoes of those who lost their money at Bitfinex. Whenever you sell a token you fix a loss any way you look at it. You may buy it lower (hoping to sell later at a higher price), but that would already be irrelevant

[davidgdg]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

...Regarding the BFX tokens, I heard they decently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

They say they intend  to redeem in full by August this year. But if you know better then this is your opportunity for the short of the century. With the current token price at 0.98 it's just free money  😉

[Dunkelheit667]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

I might be wrong, but as far as I can remember Bitfinex covers the fee. E.g. you withdraw 1 BTC from your account and you will receive 1 BTC on your wallet. The transaction fee was paid by Bitfinex.

https://www.bitfinex.com/fees would confirm this.

[birr]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

I might be wrong, but as far as I can remember Bitfinex covers the fee. E.g. you withdraw 1 BTC from your account and you will receive 1 BTC on your wallet. The transaction fee was paid by Bitfinex.

https://www.bitfinex.com/fees would confirm this.

That page doesn't say that bitfinex pays the miner's fee.

[Quickseller]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

I might be wrong, but as far as I can remember Bitfinex covers the fee. E.g. you withdraw 1 BTC from your account and you will receive 1 BTC on your wallet. The transaction fee was paid by Bitfinex.

https://www.bitfinex.com/fees would confirm this.

That page doesn't say that bitfinex pays the miner's fee.

I have never had to pay any kind of miner's fee when withdrawing from bitfinex.

If they are charging any fees, they would be listed on that page.

[Bonez0r]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

I might be wrong, but as far as I can remember Bitfinex covers the fee. E.g. you withdraw 1 BTC from your account and you will receive 1 BTC on your wallet. The transaction fee was paid by Bitfinex.

https://www.bitfinex.com/fees would confirm this.

That page doesn't say that bitfinex pays the miner's fee.

Actually it does. If you scroll down to withdrawal it says "FREE" for all currencies except fiat. I didn't know that. Well, they pay high fees then, probably higher than necessary.

[deisik]

I did a BTC withdrawal just now and the fee was 0.0045 BTC (about $4.68). Yes it was fast, but this is ridiculously high, i wasn't in a hurry. I don't usually pay attention to the transaction fees Bitfinex uses, are they always this high? It's this transaction.

I might be wrong, but as far as I can remember Bitfinex covers the fee. E.g. you withdraw 1 BTC from your account and you will receive 1 BTC on your wallet. The transaction fee was paid by Bitfinex.

https://www.bitfinex.com/fees would confirm this.

That page doesn't say that bitfinex pays the miner's fee.

Actually it does. If you scroll down to withdrawal it says "FREE" for all currencies except fiat. I didn't know that. Well, they pay high fees then, probably higher than necessary

They seem to have learned from the past

Once I tried to withdraw something like 1 BTC from there looking for an arbitrage opportunity (it was in August 2015 when there had been a massive transaction jam on the network), and my transaction got stuck for almost two days because they offered the fee which was way too low for the size of the transaction. I was utterly frustrated back then. Ironically, though, the price during these two days went even stronger in my favor and in the end I booked higher profits than I first expected

[Quickseller]

The remaining BFX tokens will be redeemed in about 10 minutes.

Edit: oops, forgot to adjust for daylight savings. The correct time is 1 hour ten mins 20:00 GMT

[davidgdg]

Is Bitfinex still alive and kicking?

I haven't been trading at Bitfinex for almost a year and a half (last trade in November 2015), but I managed to successfully login to my old account recently. I'm now testing my own trading platform (which includes interface to this exchange) and going to send some funds there. So my question to those of you who are still trading at this exchange, will I be able to withdraw my funds intact and how fast are the withdrawals processed nowadays? I'm afraid that they might confiscate some percentage of my dough and give me their wretched BFX tokens, which I'm obviously not very much interested in. Are there any issues in this regard (i.e. deposits and withdrawals)?

Lol.  Very much alive and kicking.  Biggest exchange by US dollar volume.

Regarding those wretched tokens you're  talking about,  as I'm such a nice guy  i'm happy to do you a huge favour  and take them off your hands for $.50 each

I don't have any, sorry

...Regarding the BFX tokens, I heard they decently redeemed 5% of these tokens, thereby, as I suspect, their happy owners may have to wait something like 20 years till they get their money back in full

They say they intend  to redeem in full by August this year. But if you know better then this is your opportunity for the short of the century. With the current token price at 0.98 it's just free money  😉

 How is that short position coming along ? 😜

[wetsuit]

If I am not mistaken BTC price during the hack was ~$540 and now it is ~$1,100 so even with a 100% redemption of tokens, didn't BTC holders at Bitfinex take a loss of more than 50%? or will they be compensated in BTC?

[Ente]

If I am not mistaken BTC price during the hack was ~$540 and now it is ~$1,100 so even with a 100% redemption of tokens, didn't BTC holders at Bitfinex take a loss of more than 50%? or will they be compensated in BTC?

That's the problem, yes. The socialized losses were calculated in USD, the tokens were valued in USD. That means people holding onto their tokens have no loss in USD terms. the best outcome would have been to sell the tokens early on, if you are all-in BTC.

Still, it's a reasonable approach. Things are always valued at fiat value in legal context. And with rising exchangerate, like we had, bitfinex would have been running behind the train indefinitely.

Would I have agreed to lend them 36% of my coins at dollar value for 8 months for free? Obviously not.

Still, they solved it in a good way.

[Quickseller]

There is no guarantee that BTC would have increased in value since August, nor is there any guarantee that someone would have held onto BTC this entire time.

Also, bitfinex customers who lost money in the hack had the potential to buy additional BFX tokens at a substantial discount, especially early after the hack.

Another point is that ~66% of the bitcoin held by Bitfinex was stolen, however holders of bitcoin only lost about 36% of their holdings -- this was made possible by the fact that holders of other cryptos, and dollars also suffered losses.

[deisik]

If I am not mistaken BTC price during the hack was ~$540 and now it is ~$1,100 so even with a 100% redemption of tokens, didn't BTC holders at Bitfinex take a loss of more than 50%? or will they be compensated in BTC?

The price right before the hack was hanging around 610-620 dollars per coin

But it had gone down just two days before the hack from 650 dollars as if someone (likely the thieves themselves) had been shorting Bitcoin in massive mounts, which made perfect sense since it was obvious that the theft of so many bitcoins would crash the price within hours if not minutes after the news hit the media. In fact, at Btc-e the price went down as low as 479 dollars, though it rebounded quickly