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Topic: Bitfinex- bank blocked all their deposits - page 8. (Read 11044 times)

hero member
Activity: 812
Merit: 1001
as long as there is no affect the price of bitcoin and sump they all do not realize it.
whether it should be in Deje permasalahnya GOX what is it?

Hey, please stop shitposting these 2 account, or i'll find more?
legendary
Activity: 3374
Merit: 3095
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They are still having this issue and they are offering alternative solution but they are still not giving any solution as i can seen in their post here https://www.bitfinex.com/posts/200

This is another sign that there are new big trading site will be down this is happening every year..
Just lets hope that bitfinex can be still resolve the issue just like before.
Well i don't have funds in bitfinex because i already experience of issue before .. so for those who are funds in bitfinex before its late better to transfer your funds in other trading site for safety purposes
legendary
Activity: 1232
Merit: 1091
Good news is, cheap coins are most likely to come booys Cool Get your fiat ready once people witdraw their cash completely or if bitfinex pull a gox trick, it will be a sunny day for FIAT holders.

If you still trade on finex even after their latest fuck up in August, you should leave your financial matters to your grandma.

I wouldn't necessarily consider it to be good news (yes I know you refer to the price that may come down significantly as result) if we go through another wave of negativity. I can already see the mainstream media channels to jump on this where they completely trash Bitcoin all day long. As always it's the average joe that takes everything the media says for granted so easily. Nothing good about it.
hero member
Activity: 868
Merit: 500
Well i dont know how many milions are deposited over bitfinex exchange, but sure the cash would make the price to raise almost instant as their costumers get the notification that they cant do wire transfers anymore. Anyway all should already know the risks to trust again bitfinex, and looks like they are on the way to get out, this is another hit just after the last hack attack, what will be the next?
legendary
Activity: 1512
Merit: 1012
We can take many things from this...

1. The most obvious, Bitfinex is lying or not telling the whole truth.
2. Banks/governments are doing something to prevent Bitcoin trading.
3. Something has been poorly explained in the past.

Something I haven't understood in the midst of this is: did they manage to pay their whole debt?

banks love money why would they do this?

Because they're blocking competition this way. The fees they get from serving Bitcoin-related websites is probably not enough for them against the threat of Bitcoin...

why dont major exchanges open a small bank to operate their operations with no pain.

I'm not knowledgeable enough to give this is a reply but I assume it's not that easy as "let's just open a bank".
legendary
Activity: 1120
Merit: 1008
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I hope they sort out all the things. i really don't want to see another gox, it'll surely do a lot of damage to bitcoin.
I also hope so if they get bankrupt or if this situation remain same for few more days, we may see huge crash  on price. There is already a massive price difference between BTC-USDT and BTC-USD. I have also stopped selling/buying bitcoin with some local dudes because we can't agree upon which price to be taken as price of bitcoin.  Grin

Bitfinex shouldn't be trusted but many traders have returned back to them even after they got hacked. Now they will suffer from all this drama.
legendary
Activity: 3276
Merit: 2442
Good news is, cheap coins are most likely to come booys Cool Get your fiat ready once people witdraw their cash completely or if bitfinex pull a gox trick, it will be a sunny day for FIAT holders.

If you still trade on finex even after their latest fuck up in August, you should leave your financial matters to your grandma.
legendary
Activity: 1218
Merit: 1003
Is this why the USD tether is wobbling? I was all excited earlier after seeing the 'price' on Poloniex, only to find out that the tether price was about 50 bucks different to the real price.

Lots of people are complaining about Bifinex here, but are we certain that they are to blame, or could it just be a local clamp down that couldn't be avoided?
legendary
Activity: 1400
Merit: 1009
I hope they sort out all the things. i really don't want to see another gox, it'll surely do a lot of damage to bitcoin.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
It could simply be the Hong Kong Triads want a larger share of the money Bitfinex is holding. Organized crime in Hong Kong has members at every level of business and government. I wouldn't do business with anyone headquartered in Hong Kong if Jesus told me I'd go to hell if I didn't. 

I especially wouldn't do business with any company that starts up in Hong Kong knowing their business is skirting the edges of the law like Bitcoin exchanges routinely do. That's an eventual recipe for theft. You may as well just use your money to start a campfire.

Also, they claim all the people from the hack were paid back but how do we know that's true? Where is it recorded? Is the data reliable?
full member
Activity: 252
Merit: 100
whether it should be in Deje permasalahnya GOX what is it?
legendary
Activity: 1904
Merit: 1074
Exchanges basically only have one chance, and when they fail once.... the whole house of cards are going to come down on them. The sharks

are waiting out there to devour every Bitcoin exchange that gets hacked. The consumer protection and KYC/AML regulations are used as an

excuse to punish Bitcoin exchanges.  Angry  ..... They dropped the ball, and now the vultures are circling.  Roll Eyes
legendary
Activity: 2912
Merit: 1068
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as long as there is no affect the price of bitcoin and sump they all do not realize it.
I think we already have an effect on bitcoin price. It went up during the last 24 hours.
People buy bitcoins with their fiat they have on bitfinex, because that way they can withdraw their money.
This increases the demand and the price goes up. And as long as the price goes up they do not sell.

Yes, the price going up could be related to Bitfinex but also pure coincidence. The Bitfinex issue was known few days ago and some even have predicted this would influence Bitcoin price in negative way, so that it will go down. Which hasn't happen. And probably not all are buying Bitcoins with fiat withdrawn from Bitfinex, some are just lucky they managed to get to their money and at the moment they don't want further risk.
Anyway, hope that Bitfinex will solve that soon without customers having major problems because of it.
hero member
Activity: 959
Merit: 500
as long as there is no affect the price of bitcoin and sump they all do not realize it.
I think we already have an effect on bitcoin price. It went up during the last 24 hours.
People buy bitcoins with their fiat they have on bitfinex, because that way they can withdraw their money.
This increases the demand and the price goes up. And as long as the price goes up they do not sell.
hero member
Activity: 714
Merit: 501
shouldn't bitfinex have backup accounts in other countries? why put the fate of all their business in one country's account. If this is their only account, then I mus say they have failed to plan.

they made an announcement on their site talking about these issues about 5 days ago and in that they mentioned something about their funds not being frozen but payment channels being closed.
and also they mentioned that "U.S. banks aren't holding any of their funds." so they should have more than just one bank.
they may have disabled everything to prevent further problems.
https://www.bitfinex.com/posts/199

what i find weird is why an exchange located in Hong Kong uses banks in Taiwan!
full member
Activity: 238
Merit: 100
as long as there is no affect the price of bitcoin and sump they all do not realize it.
newbie
Activity: 8
Merit: 0
I think that is why eth and btc going up , every usdt in bitfinex changed to btc or eth and send another exchanges such as bittrex and poloniex.
hero member
Activity: 959
Merit: 500
I don't believe that the bank problem for bitfinex can't be solved.
When they pay, they will find a bank they can cooperate with. Afterall it's money that can be earned for the bank.
From how I read the article, bitfinex had no problems with paying out bitcoins, only delays with US dollars.
And those delays most likely were intensionally created by Wells Fargo.
At least Bitfinex filed a lawsuit against Wells Fargo, accusing them for pressuring its banks into blocking its outgoing wire transfers.
But recently Bitfinex dropped that lawsuit again. The reason for that remains unclear.
Right now I see no danger that bitfinext could go bankrupt. They have the money, they just can't move it at the moment.

What you have written sounds EXACTLY like what people were saying when MtGox started having problems with fiat withdrawals.

Be cautious and withdraw your coins. If it later turns out that things are fine at bitfinex and they enable withdrawals, then you can start using them again.

The crypto space is so shady that it is better to be safe than sorry (as the victims of mtgox, mintal, cryptsy and others will tell you).

I must admit that I was not around at Mt.Gox times. From all I know they had not much more than Bitcoin and fiat, did they?
At Bitfinex bitcoins and every other cryptocurrency seems to be intact, both in withdrawls and deposits.
So I still don't think that bitfinex is in danger. After all it's just a problem with payments in fiat money they have.
And even if (and that is a very big if) it might come to delays with a cryptocurrency, that would not have the same impact as Mt.Gox had.
Just remember the the Bitfinex hack last year. The influence it had on bitcoin price was measurable, but really not catastrophic.
But of course, if somebody feels uncomfortable with the situation, play the safe card.
legendary
Activity: 1652
Merit: 1088
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I don't believe that the bank problem for bitfinex can't be solved.
When they pay, they will find a bank they can cooperate with. Afterall it's money that can be earned for the bank.
From how I read the article, bitfinex had no problems with paying out bitcoins, only delays with US dollars.
And those delays most likely were intensionally created by Wells Fargo.
At least Bitfinex filed a lawsuit against Wells Fargo, accusing them for pressuring its banks into blocking its outgoing wire transfers.
But recently Bitfinex dropped that lawsuit again. The reason for that remains unclear.
Right now I see no danger that bitfinext could go bankrupt. They have the money, they just can't move it at the moment.

What you have written sounds EXACTLY like what people were saying when MtGox started having problems with fiat withdrawals.

Be cautious and withdraw your coins. If it later turns out that things are fine at bitfinex and they enable withdrawals, then you can start using them again.

The crypto space is so shady that it is better to be safe than sorry (as the victims of mtgox, mintal, cryptsy and others will tell you).
hero member
Activity: 959
Merit: 500
I don't believe that the bank problem for bitfinex can't be solved.
When they pay, they will find a bank they can cooperate with. Afterall it's money that can be earned for the bank.
From how I read the article, bitfinex had no problems with paying out bitcoins, only delays with US dollars.
And those delays most likely were intensionally created by Wells Fargo.
At least Bitfinex filed a lawsuit against Wells Fargo, accusing them for pressuring its banks into blocking its outgoing wire transfers.
But recently Bitfinex dropped that lawsuit again. The reason for that remains unclear.
Right now I see no danger that bitfinext could go bankrupt. They have the money, they just can't move it at the moment.
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