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

[wilfried]

Have you read the news about Bitfinex guys? In any case well done, it is the best theft managed in the history of the Bitcoin on an exchange. They survived everything by repaying their debts in just 8 months and become the new leaders. If they had gone bankrupt, no one would have been repaid. It is a question of confidence, clear communication... Bravo!

There are still a lot of questions remaining

And I wouldn't be surprised if it becomes known eventually that the guys who stole the coins were the same guys who had been running the exchange back then. It was all fishy right from the start and remains so. They didn't reveal the addresses to which the stolen funds had been moved, didn't provide information how investigation went and what it ended up with. It might well have been an inside job as may had been speculating back in the day. They might as well have caught the thieves long ago and were just keeping the funds earning plenty of money off them. In any case, I wouldn't be singing eulogies to Bitfinex since there is no reliable info about what actually happened and how it got resolved

Small correction: they did in fact post the addresses where the bitcoins went to.
Still, a lot of questions remain. Even if they didn't do anything nefarious, a lot of questions remain.

Ente

so whats that adress?

[1714676531]

1714676531

[Bonez0r]

Does anyone know of a way to turn USDT that i withdrew from Bitfinex back into USD without a loss (1:1)? Kraken's decision to let customers trade USDT/USD (resulting in a horrible USDT/USD rate of 0.93 right now) couldn't have come at a worse time or i could have just used Kraken for the conversion.

But both Bitfinex's high BTC price and Kraken's low USDT price are the result of banks being difficult. Coincidence, or are banks suddenly and colectively turning the thumbscrews on all crypto-related companies?

[deisik]

But both Bitfinex's high BTC price and Kraken's low USDT price are the result of banks being difficult. Coincidence, or are banks suddenly and colectively turning the thumbscrews on all crypto-related companies?

Just in this case, it may well be a coincidence

Though it is impossible to tell, at least now. But with Bitcoin popularity growth, we can be certain that such issues will start springing up more often. Bitfinex is not the first exchange that has fiat withdrawal issues, but due to its sheer size the effect is so huge. The good thing is that all exchanges will be in basically the same position eventually. The bad thing, though, is that withdrawing fiat will be more complicated and likely a lot more expensive

[Bonez0r]

But both Bitfinex's high BTC price and Kraken's low USDT price are the result of banks being difficult. Coincidence, or are banks suddenly and colectively turning the thumbscrews on all crypto-related companies?

Just in this case, it may well be a coincidence

Though it is impossible to tell, at least now. But with Bitcoin popularity growth, we can be certain that such issues will start springing up more often. Bitfinex is not the first exchange that has fiat withdrawal issues, but due to its sheer size the effect is so huge. The good thing is that all exchanges will be in basically the same position eventually. The bad thing, though, is that withdrawing fiat will be more complicated and likely a lot more expensive

I found out that Bitfinex and Tether have the same parent company, so that explains why they both have bank problems. But there's more going on that also affects other exchanges that trade BTCUSD. See here. The question now is, does Bitfinex want to comply with the new AML regulations. Only then can they resume USD withdrawals.

[JanpriX]

Are people still unable to withdraw to fiat from Bitfinex? Many folks are citing problems regarding their inability to withdraw their funds to USD. Some are getting scared about this and others are trying to compare it to what happened to Mt. Gox. Because of this problem, price of BTC to USD in Bitfinex soar to new highs and this disparity in price also confuses other users of the said exchange. Hopefully, they'll sort this out in a faster manner.

[deisik]

But both Bitfinex's high BTC price and Kraken's low USDT price are the result of banks being difficult. Coincidence, or are banks suddenly and colectively turning the thumbscrews on all crypto-related companies?

Just in this case, it may well be a coincidence

Though it is impossible to tell, at least now. But with Bitcoin popularity growth, we can be certain that such issues will start springing up more often. Bitfinex is not the first exchange that has fiat withdrawal issues, but due to its sheer size the effect is so huge. The good thing is that all exchanges will be in basically the same position eventually. The bad thing, though, is that withdrawing fiat will be more complicated and likely a lot more expensive

I found out that Bitfinex and Tether have the same parent company, so that explains why they both have bank problems. But there's more going on that also affects other exchanges that trade BTCUSD. See here. The question now is, does Bitfinex want to comply with the new AML regulations. Only then can they resume USD withdrawals

Sooner or later that should have happened

And I don't mean just Bitfinex alone but rather relationship entire between Bitcoin representing crypto, on the one side, and the US dollar representing fiat, on the other. It seems that we are close to an open confrontation between the fiat camp and cryptocurrency camp. It may look that the former have the overwhelming advantage but I wouldn't be too fast with sweeping conclusions. Some people are saying that Bitcoin and friends are depending on fiat, now we will see if it is actually so. Personally, I think that Bitcoin can exist without fiat perfectly well since it is money as well as a payment system in and of itself. I understand that many people are interested in the withdrawals of the US dollar (i.e. converting their bitcoins to fiat) but not all people actually need that

[npr321]

Are people still unable to withdraw to fiat from Bitfinex? Many folks are citing problems regarding their inability to withdraw their funds to USD. Some are getting scared about this and others are trying to compare it to what happened to Mt. Gox. Because of this problem, price of BTC to USD in Bitfinex soar to new highs and this disparity in price also confuses other users of the said exchange. Hopefully, they'll sort this out in a faster manner.

Be aware, Bitfinex is providing false information to their users. They don´t allow withdrawals of any kind although it is only the USD to what they are being restricted. I personally asked to use the option of withdrawing funds to Taiwan, but they told me that "it would be extremely hard to open a new one for non-Taiwanese citizens". When I told them that that was not true as I was living in Taiwan and all you needed is a passport and requested a withdraw to a Taiwanese bank, they went mute and started not answering.
Bitfinex is selling their own bitcoins at premium prices and planning for bankruptcy.
You are welcomed to join forces with us in our quest to bring them to Justice. Please visit us at https://www.facebook.com/Lawsuit-against-Bitfinex-1885809161667619/

[deisik]

Are people still unable to withdraw to fiat from Bitfinex? Many folks are citing problems regarding their inability to withdraw their funds to USD. Some are getting scared about this and others are trying to compare it to what happened to Mt. Gox. Because of this problem, price of BTC to USD in Bitfinex soar to new highs and this disparity in price also confuses other users of the said exchange. Hopefully, they'll sort this out in a faster manner.

Be aware, Bitfinex is providing false information to their users. They don´t allow withdrawals of any kind although it is only the USD to what they are being restricted. I personally asked to use the option of withdrawing funds to Taiwan, but they told me that "it would be extremely hard to open a new one for non-Taiwanese citizens". When I told them that that was not true as I was living in Taiwan and all you needed is a passport and requested a withdraw to a Taiwanese bank, they went mute and started not answering.
Bitfinex is selling their own bitcoins at premium prices and planning for bankruptcy.
You are welcomed to join forces with us in our quest to bring them to Justice. Please visit us at https://www.facebook.com/Lawsuit-against-Bitfinex-1885809161667619/

Could you provide any proofs to your claims?

So far it looks more like a smear campaign. Why would they want to sell their bitcoins and how do you know that? I guess if they really had bitcoins in any significant amounts, that would bring the prices down. Also, what about cryptocurrency withdrawals? Are those allowed? If they are allowed, this is not logical if they were really going to scam on us. Could anyone clarify how matters stand in respect to such withdrawals? Further, if USD withdrawals (as well as deposits) are disallowed for the reasons specified by the exchange, I think you wouldn't be able to withdraw to any bank account irrespective of where you are living

[Bonez0r]

It would be nice if Bitfinex would give us updates more often, either here, on Twitter or on their own site. Maybe there's not much to report, but people get really nervous when there's no communication at all for more than a week.

[Ente]

It looks like their main update channel is /r/bitcoin.

Ente

[Sukrim]

https://www.reddit.com/user/bfx_brandon posts quite regularly on Reddit, while another user posts nearly daily threads about how much of a "fraud" they are...

[statdude]

Does anyone trade on Bitfinex know how to calculate their fees? I can't find a definite list of my fees per trade.

Do they automatically calculate it into my trade price? effective trade pricing? Bittrex does that well.

[Quickseller]

Does anyone trade on Bitfinex know how to calculate their fees? I can't find a definite list of my fees per trade.

Do they automatically calculate it into my trade price? effective trade pricing? Bittrex does that well.

They will have a second transaction that removes the fee amount from your account.

[deisik]

Does anyone trade on Bitfinex know how to calculate their fees? I can't find a definite list of my fees per trade.

Do they automatically calculate it into my trade price? effective trade pricing? Bittrex does that well.

Unlike other exchanges (e.g. Btc-e), they take the fees not from the amount you bought, but from your leftover balance. That may cause a lot of confusion, for example, when you place a Sell order of, say, 1 BTC and have no leftover (i.e. your available balance becomes 0), your order will be filled only partially (order amount minus fees). If you want to see the list of fee transactions, you go to Account->Reports->Balances, and then choose the currency which you traded

Are cryptocurrency withdrawals working flawlessly at this exchange today?

[ONE28]

Prompt without verification with scanning of documents it is possible to trade on bitfinex? If small amounts? So let's say as on Polo or until all of the hardware is passed you can not get and take out bitcoins?

[Ente]

You can deposit, withdraw and trade cryptos as much as you want at any amount without any verification.
Only getting fiat on and off needs verification.
You can, for example, send BTC to BitFinex, trade all pairs (including USD), and withdraw your gains in Ether.

Ente

[Samarkand]

Is there any additional method to secure your BFX account aside from 2FA?

[deisik]

Is there any additional method to secure your BFX account aside from 2FA?

There are quite a few options there

You may whitelist IP addresses which are allowed to access the site (though it is not really recommended if you have a dynamic IP address). You may also disallow withdrawals from new IP addresses for 24 hours in case someone steals your credentials and tries to withdraw your funds. If I'm not mistaken, you can also lock withdrawal addresses, i.e. the withdrawals will be possible only to the specified addresses. There seem to be a few other options but I didn't look into them

[Samarkand]

Is there any additional method to secure your BFX account aside from 2FA?

There are quite a few options there

You may whitelist IP addresses which are allowed to access the site (though it is not really recommended if you have a dynamic IP address). You may also disallow withdrawals from new IP addresses for 24 hours in case someone steals your credentials and tries to withdraw your funds. If I'm not mistaken, you can also lock withdrawal addresses, i.e. the withdrawals will be possible only to the specified addresses. There seem to be a few other options but I didn't look into them

Thank you for the explanation of available methods!
Unfortunately, my ISP only offers dymanic IP adresses 

Locking withdrawal address could be dangerous if you lose access
to the withdrawal address.

[Dunkelheit667]

Locking withdrawal address could be dangerous if you lose access
to the withdrawal address.

Write down the private key for your Bitfinex withdrawal address and store it where you have stored backups from all your other private keys? Just a thought.