Should we be worried with Bitfinex?

[Blawpaw]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

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[HeRetiK]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

I'm worried about USDT running fractional and blowing up into everyone's faces, but Bitfinex I still sufficiently trust -- at least as far as you can trust crypto exchanges, which in general I wouldn't really recommend in the first place.

The accusations of Bitfinex pumping BTC using USDT I will believe once I see hard evidence. According to coinmarketcap Bitfinex currently only accounts for about 2.5% of USDT trading volume which makes Bitfinex pumping BTC using USDT rather unlikely. If they ever did, they stopped a long ago.

[squallw]

Some months ago, i did withdraw of my 2 ETH from bitfinex, in the plataform was everythings done and good but the txid was not found in ETH blockchain and i got no ETH in my wallet adress.
So i opened a ticket and i got no answer. Only after more than 20 days bitfinex solved. This is ridiculous.

But i think there are no good exchage, we need to use decentralized one, but the massive volume of trades is from centralized exchanges, so we have no choice, just taking the risk.

[Faroxx]

After these rumors about USDT I took my money from Bitfinex. I think it's better to wait a bit until things die down.

[squatz1]

After these rumors about USDT I took my money from Bitfinex. I think it's better to wait a bit until things die down.

I'm still surprised that after the 'hack' on bitfinex people had the audacity to still go ahead and trade with them, let alone leave a good portion of their trading money their.

This should be the last straw for a company like BitFinex, who has stolen money from people and is now supporting the scam of the tether. It's all going to pop.

Yes, you should be highly worried, leave BITFINEX IMMEDITATETLY.

[uszaty43]

All the exchangers are probably going to be the new mtgox, just think about bittrex, it is the most shitty exchange that i have ever seen, they are closing all people accounts before previous warning.
Poloniex has been cancelling withdrawals and closing accounts because they did not even verified it on the past.
Cryptopia is the best exchanger that is online at the moment and nobody is talking about them, a lot of exchanges are now becoming scam, and bitfinex is not an exception.
but they have been pumping it, what is wrong with that? would you like to see bitcoin going down again?

[Iranus]

Well it does seem that a lot of the new USDT is going to Bitfinex, so it's certainly possible.

That said, it's certainly still speculation to suggest that they are using USDT to pump the price, and I can't see any hard evidence of this.

Given the fact that they were hacked in the past, they won't accept US customers due to regulations, and the possibility of this, it's probably best to just steer clear and keep safe.

Now a lot of people is shouting this might be the next MTGOX.

Mt. Gox had a several times larger percentage of the total trading volume than Bitfinex.
 

[pixie85]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

I'm not worried, I don't have money there. I've never used bitfinex mainly because it's a USD exchange and that's not my currency of choice.

I'm worried about USDT running fractional and blowing up into everyone's faces,

You have the right to be worried because it's going to happen sooner or later. A balloon can't keep expanding forever. A great example of this is Zimbabwe. In 50 years you're going to pay $100 for a pack of smokes.

[CryptoFiction]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

Yes. We should be worried. BTC has been inflated by USDT proxy dollars. Altcoins are effected because they have been bought by inflated BTC.

[mackstuart]

I dont see anything wrong with it, bitfinex has more than 50% of the real tether that is on the market right now, and they already bought them, it means that they are able to do whatever they want.
And they bought a lot of bitcoin, what is wrong with it? it doesnt mean that we have inflation because they really pumped the price when bitcoin was drowning because of the bitcoin cash situation.
You guys have seriously problems, you all are complaining while you all must be thankful about this whole situation.

[bergenic]

All the exchangers are probably going to be the new mtgox, just think about bittrex, it is the most shitty exchange that i have ever seen, they are closing all people accounts before previous warning.
Poloniex has been cancelling withdrawals and closing accounts because they did not even verified it on the past.

Not to even mention Kraken. I opened my first exchange account there and needed 4hrs to access a withdrawal pages for my BTC & ETH, since it was impossible to get through to their website, which never ever worked. If you tried to make some trade you had to click it about 10 times before it went through. And then sometimes a trade went through delayed you did got canceled 3 mins earlier.

Bitfinex is by far the best exchange I've used so far. Everything actually works and transfers go in and out smoothly. I'm not going to keep any coins there long-term of course. But what comes to trading purposes, I rather use them than the alternatives.

[sat888com]

I would stay away from Bitfinex and not leave a single Satoshi on their website. Sure, their trading engine is great, but these guys can't be trusted. Something is about to happen, and it is going to be a disaster.

[iamTom123]

After these rumors about USDT I took my money from Bitfinex. I think it's better to wait a bit until things die down.

I'm still surprised that after the 'hack' on Bitfinex people had the audacity to still go ahead and trade with them, let alone leave a good portion of their trading money their. This should be the last straw for a company like BitFinex, who has stolen money from people and is now supporting the scam of the tether. It's all going to pop. Yes, you should be highly worried, leave BITFINEX IMMEDIATELY.

I am sure that your sentiment can be shared by the many although we should not publicly advise people that way as it can create undue panic resulting into a self-fulfilling prophecy that can push Bitfinex to the creek. We are then hoping that Bitfinex can solve its problems and that it can be back to a healthy and robust operation. It would be a sad day for many if Bitfinex can go the way of Mt.Gox. This is just one of the risks we have to face when using exchanges though to be safe getting out now can be a good option honestly. I am advising Bitfinex to come out clean about its real situation and maybe outline the remedies they are doing presently and in the coming days.

[teamjk]

no worries at all . figures speak for themselves

Exchange Volume BTC  Market share
bitfinex   1.89M   34.87%

[sangwookie]

I haven't had any problem with Bitfinex, but I wouldn't trust them with my BTC. I buy alts with them and I was able to easily send it to my wallet. Kraken is a mess though. I will not do any business with them every again. The site crashes all the time and its holding some of my coins hostage since they won't let me transfer my EOS coins.

Bittrex is ok as well, but I don't like their interface. Bithumb in Korea is good for Koreans, but again, having problems sending coins to a offline wallet. Gdax is my favorite platform but I wish they would add more coins.

[tomahawk9]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

I wouldn't be worried, but I'd take precautions. I've been reading about this Bitfinex/tether thing for months but it wasn't until last week when some people started wondering what was going and apparently it's getting a snowball effect now. Honestly, i don't trust exchanges, but this tether issue started to gain attention last week like i said (same week the attack happened) so i don't know if it is a coincidence or if it's just more FUD. For now, I would wait for an official statement from Bitfinex since this is getting a lot of attention now and they can't remain silent forever.
Also, worst case scenario, this won't be the next mtgox.

[Chris!]

In my opinion people that say "this is going to be the mtgox" don't understand that mtgox was the place to buy Bitcoin. It was basically the only exchange and had all of the volume. It would be like the top 10-15 exchanges today imploding.

It's not going to be the next mtgox but they certainly could go belly up. As usual you should keep your coins in a wallet where you (and only you) control the private keys.

[jacobmayes94]

I agree with this, wholeheartedly, keep all but what you will use for the day in your own wallet, a hardware wallet I might add.

[somewhan]

After these rumors about USDT I took my money from Bitfinex. I think it's better to wait a bit until things die down.

this. we need dex badly. etherdelta has become ok for volume, but its only eth and tokens. hoping for the next dex with interblockchain connections.

[stunvn]

No, we should not.

Ignore the noise. Focus on the news.