Is Bitfinex a SCAM?

[jamesashmore1964]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

[ashmodeus]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

well
i am not sure , most of exchanges now have bots inside them,
i mean , if some exchanges have a bots, u will call the exchanges a scam ?
if u go to bitforex or hitbtc u can see more more bot than bitfinex.

[unusualfacts30]

most big exchanges use bots, does that make them a scam? I don't think so but sec might have different opinion on this.

[Natusik]

If this is confirmed, the market may collapse catastrophically. I hope that Bitfinex will be able to confirm its honest reputation!

[Brawnsugar]

Most exchanges have bot trading in them and there's nothing the SEC can do about it. Mind you this is the same way there are bots in the forex industry

[jeffthebaker]

Semantics aside, Tether seems to be fine. They passed audit and virtually every major exchange accepts it. If it raised red flags it wouldn't have the full backing if Binance and others.

[lsafronova095]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

And why do you think that only in this exchange there are bots? As far as I know, bots are on all exchanges, but this can not be said, this is a violation. But each exchange has such scripts, they help them to perform an important task to form movement on short positions. Sometimes use on long, but it is very noticeable. Maybe you're talking about one of them now.

[jamesashmore1964]

Rrom the replies it appears you guys do understand the severity of the issue!

[kingzpro]

I would not call it a scam but personally i dont like margin trading it is like risk magnified with small swing you can burn all your deposit, so it is much better to do spot trading, margin trading is also highly speculative and not for ordinary traders, in margin trading more people loose.

[shinharu10282016]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

I think you are just exaggerating but if it really is under investigation already, they should really look into it. Market manipulation in the country where they are should be really a crime if its really manipulating. No one should be above the law.

Plus the ETF should not be really worried upon now. We really have a low market anyway.

[cleverboy_engineer]

It's hard to decide, yet I dont think it is a SCAM.

[cryptowse]

it's not a scam, that's just how they make profits and exchanges also benefit from HFT trading.

[DevelopmentBank]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

I wouldn't so easily conclude that BitFinex is a scam outright. People who are using BOTS to manipulate it should be the first and foremost to be accused, not necessarily the platform itself. Until you provide further evidence about this, I would suggest you stop posting FUD like this because this also hurts are chances at ETF when no-evidence FUDDers keep posting accusations like this one.

[jamesashmore1964]

Bots are liquidating shorts and longs deliberately!
Looks very Fishy: There is no way an ETF will be approved with the manipulation in this market!
The SEC and Dept of Justice are doing a criminal investigation into the matter outlined: They are obviously not doing their jobs properly!
Tether and Bitfinex are one entity!
The situation is a discrace!

I wouldn't so easily conclude that BitFinex is a scam outright. People who are using BOTS to manipulate it should be the first and foremost to be accused, not necessarily the platform itself. Until you provide further evidence about this, I would suggest you stop posting FUD like this because this also hurts are chances at ETF when no-evidence FUDDers keep posting accusations like this one.

It is obvious it is not FUD. why would the SEC and The Department of Justice be doing a criminal investigation.
A lot of people in the KNOW have my thoughts and the trading data from the last few days supports my claim: Wake-Up. I wish it wasn’t true but I am looking at the facts. It is very sad!

I have ALTs and I hope the situation can be rectified by the regulatory bodies!

[okocrypto]

This is just one of the many cases; a close investigation wiĺl reveal things that will shock people. The crypto world is generally governed by greed and this will continue until regulation steps in. Stringent measures must be taken if crypto is to survive what is coming. Just recently , the Kingdom of Saudi Arabia banned crypto and everything related to it on the ground that it is not regulated and mostly filled with get-rich-quick schemes. More will happen if proper measures are not put in place urgently.

[jamesashmore1964]

This is just one of the many cases; a close investigation wiĺl reveal things that will shock people. The crypto world is generally governed by greed and this will continue until regulation steps in. Stringent measures must be taken if crypto is to survive what is coming. Just recently , the Kingdom of Saudi Arabia banned crypto and everything related to it on the ground that it is not regulated and mostly filled with get-rich-quick schemes. More will happen if proper measures are not put in place urgently.

I agree with everything you say!
It is very sad and depressing!

[samcrypto]

bitfinex is the top 5 exchanger, I don't think bitfinex is a scam, bitfinex comes from hongkong they are very open and all exchangers will definitely use bot

Yeah, this is a good exchange and many whales are using this exchange so I don't think this is a scam. A lot of exchanges are now using bot, bittrex I think has its own version of a trading bot but it doesn't meant that exchange already a scam. SEC decision on the ETF might not be affected by the manipulation in this market, but we will see this soon and let's just wait for the final decision.

[cryptic4000]

bitfinex is the top 5 exchanger, I don't think bitfinex is a scam, bitfinex comes from hongkong they are very open and all exchangers will definitely use bot

I agree with you . Bitfinex is one of the best trading volume deals and if you own a lot of Bitcoin, this is a good trade for you to liquidate. Almost all major exchanges use the Bot to increase the transaction volume and I feel normal to see

[pranazzs]

bitfinex is the top 5 exchanger, I don't think bitfinex is a scam, bitfinex comes from hongkong they are very open and all exchangers will definitely use bot

I agree with you . Bitfinex is one of the best trading volume deals and if you own a lot of Bitcoin, this is a good trade for you to liquidate. Almost all major exchanges use the Bot to increase the transaction volume and I feel normal to see

Indeed, Bitfinex is not a scam, but the SEC and the Justice Department are investigating.
The problem is the bots. Maybe according to the SEC, exchanges that use bots are considered criminal.

[anggriani]

simple, if bitfinex is a scam then the exchange has been stopped and the trader will not trade there again. the market will also react violently and fall very badly.