Topic: Bitfinex asks users to help in Recovery - page 3. (Read 3035 times)

It's better than another Mt.Gox-style bankruptcy for the customers, and the Bitfinex owners if Chinese prisons are as rough as Japanese prisons. Have you seen how much weight Karpeles has lost in a Japanese prison? He went in a fat blob and came out like a matchstick man.

If the same fate awaits the Bitfinex owners if they are jailed, then avoiding it through this recovery plan is the best deal they could hope for.

They already lost their reputation and I don't think that they will ever recover from this loss.
They will probably bankrupt so any new funds send now will be lost again.
People, please be smart, don't trust such services any more and try to keep your funds in more secure places like your own wallets.
Of course, always check your computer and Internet security.

Yeah if this is true that bitfinex are asking for help because its impossible that they will be asking..
For its smell fishy if he is asking to borrow some coins and deposit in there business..
Its risky.

If I had any funds there I would withdraw them as soon as possible when they open up withdrawels... There is likely to be a massive bank run after they open up again and seeing how only bitcoin are missing, they have limited coins available to handle the withdrawels (unless they start buying them with the fiat they hold, which is possible as also fiat holdings get a haircut). Let alone potential law suits and bankrupcy around the corner.. get those funds out..

After that, the only thing you can do is hope the placeholder coins somehow turn into something of value over the coming years to lessen the blow.

To the ones saying bitfenix should take the loss.. That will probably result in a mt. gox situation where the people still don't have their coins after 2 years... I would rather have 70% of my coins now than a chance for more after a looooong process..

Wow, it is more, than enough.   

Their price ticker has been down since all this has happened.
This is not an encouraging sign to say the least if they are asking help from the customers that lost money because of their incompetence.

As far as I know, EVERYONE will get a 36% haircut on their accounts, no matter if you had BTC, ETC, ETH, or DOGE, and independently of quantities stored on their wallets, which is insane.

I think the Bitfinex should take the loss. It should let the client take over the company if it does not want to declare bankrupt.

Well, I think it is a scam. very difficult to return the stolen bitcoin that much, especially if bitcoin has been sent to various wallet, well, of course it will be difficult, even can not, so I guess it is a fraud who simply used this opportunity to make a profit

I really think bitfinex is done.
If they can not compensate the lost money on theirown, they should not be active anymore.

yes that should concentrate on solving the problem and recovery of the lose instead of appealing to he people to help them in shares, they should first make their system more secure and untill thy have not done these recommendation they should suspend all their activities.

I can't really see anyone wanting to help them out, not after a substantial loss like that.

Bfx was all handled pretty poorly

Nobody is going to take any of my Bitcoin from my paper wallet and give it to other people.... Why, because I store ZERO bitcoins on these dumb exchanges and I have FULL control over the bitcoins I

own. This is no worse than banks taking money from people's accounts and paying for their employees mistakes. This is totally absurd and borders on theft. As a exchange, you only have the right to

manage these funds by keeping them secure... not diving into people's money as if you own them.  

if you have not learned the lesson of never keeping funds in an exchange.. and have lost out due to bitfinex.
please take this advice

as soon as withdrawals are open.. WITHDRAW your 64% active balance..
only keep the 36% tokens in your balance.

if you think bitfinex is legit and will honour the debt
REMOVE THE 64%
do not presume that keeping the 64% with them will somehow guarantee you more chance of getting the 36% back too.
accept it psychologically as a 36% loss, forget it and dont stress over if/how/when you will get returns... then if the tokens later do become of value, accept it as a bonus, like a christmas present.
play around and trade only the tokens(36%) to try to maximize its potential

if you think bitfinex is risking bankruptcy or maybe entering into a ponzi to repay debt
REMOVE THE 64%
accept it psychologically as a 36% loss, forget it and dont stress over it... then if the tokens later do become of value, accept it as a bonus.
afterall if a government investigation/bankruptcy filing happens, ALL assets/holdings and funds are frozen for years, leaving only pennies on the dollar if lucky after a few years wait.

now things to watch out for.
1. somehow the exchange is offering discounted trade orders (EG like mtgox trading at $100 when other exchanges were at $300) dont put funds in hoping to grab large profits. as thats the ploy they want. if they were legit their trades should be the same as other exchanges.

2. equity swap. they try to talk you out of any funds recovery by offering you a stupidly low % share in a company ran from a basement with stipulations that you cannot sell for X month/years. companies like this does not have much physical assets (only a couple servers and some office chairs). its not like the company has a mortgage free skyscraper or anything large that can be sold off for millions.

3. profit shares. they try to talk you out of any funds recovery by offering you a stupidly low % share of their trade fee profits. do not expect to escape being a debtor with false promises of privately grabbing a portion of the 0.3% trade fee's. where the company obviously shouldnt be making any profits anyway due to all cashflow legitimately meant to go back to debtors.

4. affiliate program. they try to talk you into some commissions, bonuses or faster debt recovery by finding new customers. red flag ponzi.

in short. take out the 64% active balance you have remaining and then see how things play out

What does it actually mean?  are customers who only delt in other cryptos being punished also?  if it is only bitcoin holders then fair enough.  getting back over 60% is better than nothing to be honest

Yeah looks like they are starting a new step to get trusted for people and collect some bitcoin to dump all after they scam again..
Better to bait again broken is broken better to go in other exchange site.

It is like I killed your wife but please trust me I wont kill your next wife.  Damn bullshit. Trust is broken already if someone bites that then history will be created.
Guiness record "Top Idiot in Human Life"

I'm sorry, Bitfinex asks users?   

"Ask" implies users have a choice in the matter.  They aren't asking shit, they're taking it whether their customers like it or not.  Using the word "ask" is just trying to put a positive spin on a bad outcome.  Theft is theft, call it what it is.

And just in case it needs to be said again:

Rule #1 of Bitcoin is that if you don't have control over the private keys, you don't have control over your bitcoins.  Exchanges are not banks.  Don't trust others to keep your bitcoins safe. It's your responsibility.

 First they lost money, and now they are asking for help? And they ask people who already lost money to give them more? Is that is what is happening or I didn`t understand it good?

 This is just crazy, I hope people will not fall again on the same thing. Investing money in something like this can be very dangerous, what if they are preparing for some final hit & run? Well I`m not so much into trading, and all this sites, I just know to smell a scam and when I do I run away from there very fast. People should be smart this time, and why don`t you make a group here with people who lost money there and to try to do something together. People are stronger when they are connected and when they fight together!