Topic: After Bitfinex - seeking a BFX alternative (Read 1213 times)
So it looks like there is no reasonable alternative to Bitfinex. Too bad. What do you think about Lykke ?
I used Poloniex for a while and i think it can replace bitfinex easily. I never liked bitfinex's layout anyway. Poloniex has a much more simple and easy to understand layout. The only thing i don't like about Polo is its trollbox. If i can't spread any FUD and spam Moon's in a trollbox then it is useless.
BFX up ! Over 0.5 
I've been with Bitfinex forever ... had lots of e-mail exchanges with Philippe (?), their CFO and others back when they were just getting started. Once I inadvertently logged into a phishing site and lost about US$10k in btc - they reimbursed me ... as they had significant fault in that instance. Earned my trust.
Now, I'm gone forever. It just feels too much like an inside job. Hell, they don't even try to explain how this might have happened. At the end of the day it is plain as day how it could happen. Someone at Bitfinex with the keys decided to take some BTC for a ride. I suspect it is the same perpetrator(s) of their prior hack of stale addresses. The fox is still in the hen-house ...
Now, I'm gone forever. It just feels too much like an inside job. Hell, they don't even try to explain how this might have happened. At the end of the day it is plain as day how it could happen. Someone at Bitfinex with the keys decided to take some BTC for a ride. I suspect it is the same perpetrator(s) of their prior hack of stale addresses. The fox is still in the hen-house ...
After Bitfinex - seeking a BFX alternative i dont think that is necessary any longer because bitfinex is back and stronger.
No, it's not. Volume is dead, people are saddled with un-backed IOUs instead of real money, and most of their bitcoins held are gone. More than half of the bitcoins left under their control have already been withdrawn.
I wouldn't be surprised in the slightest if these guys started running a BTC fractional reserve. Everything they've done is very desperate.
After Bitfinex - seeking a BFX alternative i dont think that is necessary any longer because bitfinex is back and stronger.
If Bitfinex was your primary, go-to exchange, like it was for me, and you are washing your hands of Bitfinex, like I am, is there any comparable exchange available that offers even a modicum of security?!?!
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
you have to first accept that all the exchanges are subjected to the same result as bitfinex and they all can go down just like bitfinex did.
but as an alternative i myself prefer kraken but also there are other choices that i try like bitstamp, btc-e and my signature coinsbank.
Same here. Looking for a more reliable alternative.
There isn't one.......on the face of it, Kraken would be the best choice....but I just had first hand experience of Kraken's 'sorry for your losses' approach to dealing with security breaches clearly on their part, by blaming it on their customers.....
....I wouldn't touch any of the Bitcoin exchanges. You won't believe that they can and will just fuck off with your money (despite all the previous cases of BTC exchanges doing just that), until they actually do it, but by that time, it will be too late.
Perhaps one exception is Bitstamp. When they got hacked, they opted to repay the stolen BTC out of their own pockets, and they just recently got regulated in Luxembourg, a prominent EU financial centre, so at the very least they are answerable to an authority in a reliable jurisdiction, which would prevent them from pulling any shenanigans like what Kraken and then Bitfinex have pulled recently.....but, very limited trading options there, and piss poor liquidity.
Same here. Looking for a more reliable alternative.
I think that there arent much exchanging that are similar to bitfinex, I was thinking about Kraken but they are still not available on united states because of the licenses that this country requires. But have you checked coinbase? They support United States but check about their fees.
I can offer one big resounding NO vote to Kraken.
I think that there arent much exchanging that are similar to bitfinex, I was thinking about Kraken but they are still not available on united states because of the licenses that this country requires. But have you checked coinbase? They support United States but check about their fees.
I've looked at Coinbase, but I don't want to use them in a meaningful way because I play bitcoin poker, invest in gambling sites, etc., and I don't need Coinbase policing my activities. Before you know they will start withholding trading gains and sending me tax forms at the end of the year. :-)
I think that there arent much exchanging that are similar to bitfinex, I was thinking about Kraken but they are still not available on united states because of the licenses that this country requires. But have you checked coinbase? They support United States but check about their fees.
If Bitfinex was your primary, go-to exchange, like it was for me, and you are washing your hands of Bitfinex, like I am, is there any comparable exchange available that offers even a modicum of security?!?!
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
First question: Are you from the US? If so, your options are drastically reduced for margin. No Okcoin, no Bitmex. There is BTC-E via MT4, but liquidity is terrible. That leaves SimpleFX and 1Broker (with pretty bad spreads). The options aren't great.
I don't think Bitsquare has much liquidity. I like the idea, but people will always go where the liquidity and good UI is.
Thanks. I'm in the US now, yes. But I've lived overseas for most of my profesional life, and thinking to move back, in part for this very reason. Bitmex is AWESOME ... but like you suggest, they shuttered my account when they ceased servicing US customers. Yes I also use 1broker, and like them a lot for trading indices, equities, commodities. But again. like you said, shorting btc on their platform is unnecessarily expensive. At least it was last time I looked. SimpleFX ... I'll have to take a look. Meanwhile my coins are just going to be offline much more than they were ... I have accounts at BTC-China and BTC-e but I'm not excited about security ...
If Bitfinex was your primary, go-to exchange, like it was for me, and you are washing your hands of Bitfinex, like I am, is there any comparable exchange available that offers even a modicum of security?!?!
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
First question: Are you from the US? If so, your options are drastically reduced for margin. No Okcoin, no Bitmex. There is BTC-E via MT4, but liquidity is terrible. That leaves SimpleFX and 1Broker (with pretty bad spreads). The options aren't great.
I don't think Bitsquare has much liquidity. I like the idea, but people will always go where the liquidity and good UI is.
If Bitfinex was your primary, go-to exchange, like it was for me, and you are washing your hands of Bitfinex, like I am, is there any comparable exchange available that offers even a modicum of security?!?!
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
I loved Bitfinex' functionality: it was my go-to exchange for shorting, lending, exchanging, and wiring money in-out of my US-based fiat account. Now I'm collecting my coins in my own offline wallet and thinking ... I have nowhere to short, convert to fiat, etc. etc. etc.
Bitcoin ecosystem NEEDS a liquid exchange. Does bitsquare.io or some similar decentralized exchange hold real promise? Other than simply holding my coins in an offline wallet, foregoing opportunities to short, or move to fiat, where does one turn?
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