Topic: How big is bitfinex? (Read 1965 times)
I have no idea if you are right or wrong here. I can say that I have had money in this site and have never had any problems collecting interest and getting money wired to my personal bank account. Never had issues buying BTC and sending it either.
However, you were right on labcoin, it just seems like you come in here with allegations and no hard proof, and as stated in the case of labcoin you were correct and saved me some $$
But wouldn't it be better for you to offer constructive feedback. For example, let's say that it is not a scam, what kind of proof / documents would you like to be seen? For all we know there is something that can be provided that would give us a bitcoin success story to talk about.
Scam warnings are a great thing for the community, but better feedback will help the community learn what to look for in certain situations.
Just my $0.02, thanks for reading.
However, you were right on labcoin, it just seems like you come in here with allegations and no hard proof, and as stated in the case of labcoin you were correct and saved me some $$
But wouldn't it be better for you to offer constructive feedback. For example, let's say that it is not a scam, what kind of proof / documents would you like to be seen? For all we know there is something that can be provided that would give us a bitcoin success story to talk about.
Scam warnings are a great thing for the community, but better feedback will help the community learn what to look for in certain situations.
Just my $0.02, thanks for reading.
Those who act according to the habits and principles of scammers, whether because of their own deliberate intention to scam, or through their ignorance of how to act in a manner consistent with honesty and professionalism (and especially in spite of being told what they'd need to do to comply with this), shall be treated as scammers.
The "community", inasmuch as you mean forum users here who insist on not reading or glossing over what I say because it's too long, too painful, or includes words they don't like or don't understand and won't learn, would know precisely what to look for simply by reading my post history. It's been said countless times. It's been listed by numbers, it's been argued and substantiated. People who don't want to read still don't want to read, people who aren't threatened by it learn and go on to master the ownership of their coins, what can I say.
Reject the actual evidence brought in favor of some mystical "hard proof" at your own peril. I understand the world'd be easier to navigate if things were put into your preferred form and fit your expectations of what things ought to look like, but we're not here to make things easier for everyone. We're here to do things correctly.
Please point out where this was done. I've done a ton of reading, I see the allegations. I have acted accordingly, as I said you saved me $ on labcoin, but the bolded statement above suggests there was constructive criticism given on this issue, please point me to the post where you suggest what they should do instead of just pointing out the flaws.
I have no idea if you are right or wrong here. I can say that I have had money in this site and have never had any problems collecting interest and getting money wired to my personal bank account. Never had issues buying BTC and sending it either.
However, you were right on labcoin, it just seems like you come in here with allegations and no hard proof, and as stated in the case of labcoin you were correct and saved me some $$
But wouldn't it be better for you to offer constructive feedback. For example, let's say that it is not a scam, what kind of proof / documents would you like to be seen? For all we know there is something that can be provided that would give us a bitcoin success story to talk about.
Scam warnings are a great thing for the community, but better feedback will help the community learn what to look for in certain situations.
Just my $0.02, thanks for reading.
However, you were right on labcoin, it just seems like you come in here with allegations and no hard proof, and as stated in the case of labcoin you were correct and saved me some $$
But wouldn't it be better for you to offer constructive feedback. For example, let's say that it is not a scam, what kind of proof / documents would you like to be seen? For all we know there is something that can be provided that would give us a bitcoin success story to talk about.
Scam warnings are a great thing for the community, but better feedback will help the community learn what to look for in certain situations.
Just my $0.02, thanks for reading.
Those who act according to the habits and principles of scammers, whether because of their own deliberate intention to scam, or through their ignorance of how to act in a manner consistent with honesty and professionalism (and especially in spite of being told what they'd need to do to comply with this), shall be treated as scammers.
The "community", inasmuch as you mean forum users here who insist on not reading or glossing over what I say because it's too long, too painful, or includes words they don't like or don't understand and won't learn, would know precisely what to look for simply by reading my post history. It's been said countless times. It's been listed by numbers, it's been argued and substantiated. People who don't want to read still don't want to read, people who aren't threatened by it learn and go on to master the ownership of their coins, what can I say.
Reject the actual evidence brought in favor of some mystical "hard proof" at your own peril. I understand the world'd be easier to navigate if things were put into your preferred form and fit your expectations of what things ought to look like, but we're not here to make things easier for everyone. We're here to do things correctly.
Do you know if Bitfinex is legit?
I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers.
Anyone have any info of the credibility of the owners?
I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers.
Anyone have any info of the credibility of the owners?
Bitfinex is a scam.
I have no idea if you are right or wrong here. I can say that I have had money in this site and have never had any problems collecting interest and getting money wired to my personal bank account. Never had issues buying BTC and sending it either.
However, you were right on labcoin, it just seems like you come in here with allegations and no hard proof, and as stated in the case of labcoin you were correct and saved me some $$
But wouldn't it be better for you to offer constructive feedback. For example, let's say that it is not a scam, what kind of proof / documents would you like to be seen? For all we know there is something that can be provided that would give us a bitcoin success story to talk about.
Scam warnings are a great thing for the community, but better feedback will help the community learn what to look for in certain situations.
Just my $0.02, thanks for reading.
Based on the actions and attitude of the BFX founder Raphael Nicolle, I'd say the website and organization is legitimate. They've systematically fixed every bug I've reported and never been hacked.
It is still risky, like most bitcoin businesses. And judging legitimacy is very hard.
They may have greatly benefited from luck during the April bitcoin surge/crash (the fact that the price recovered after the flash crash while MtGox was lagging out saved them, and everyone using the website, a great deal of money).
It is still risky, like most bitcoin businesses. And judging legitimacy is very hard.
They may have greatly benefited from luck during the April bitcoin surge/crash (the fact that the price recovered after the flash crash while MtGox was lagging out saved them, and everyone using the website, a great deal of money).
Do you know if Bitfinex is legit?
I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers.
Anyone have any info of the credibility of the owners?
I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers.
Anyone have any info of the credibility of the owners?
Bitfinex is a scam.
Bitfinex is pretty big. The 24 hour volume is 32k BTC and 59k LTC.
So it could be almost as big as Bitstamp (which gets a lot of its trades, possibly as much as a third, from BFX).
US lending is growing rapidly. Several months ago it was around 1 million - now $2.7 million.
It isn't running out of money. US lending rates haven't risen dramatically over time (they are less now than during the crazy $266 bubble).
Unlike Bitcoinica, which limited lending rates to 20%, BFX has higher rates (typically 30-50% APR, or 100%+ in a crazy bubble) and thus more supply.
So it could be almost as big as Bitstamp (which gets a lot of its trades, possibly as much as a third, from BFX).
US lending is growing rapidly. Several months ago it was around 1 million - now $2.7 million.
It isn't running out of money. US lending rates haven't risen dramatically over time (they are less now than during the crazy $266 bubble).
Unlike Bitcoinica, which limited lending rates to 20%, BFX has higher rates (typically 30-50% APR, or 100%+ in a crazy bubble) and thus more supply.
Do you know if Bitfinex is legit?
I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers.
Anyone have any info of the credibility of the owners?
Bitfinex is pretty big. The 24 hour volume is 32k BTC and 59k LTC.
So it could be almost as big as Bitstamp (which gets a lot of its trades, possibly as much as a third, from BFX).
US lending is growing rapidly. Several months ago it was around 1 million - now $2.7 million.
It isn't running out of money. US lending rates haven't risen dramatically over time (they are less now than during the crazy $266 bubble).
Unlike Bitcoinica, which limited lending rates to 20%, BFX has higher rates (typically 30-50% APR, or 100%+ in a crazy bubble) and thus more supply.
So it could be almost as big as Bitstamp (which gets a lot of its trades, possibly as much as a third, from BFX).
US lending is growing rapidly. Several months ago it was around 1 million - now $2.7 million.
It isn't running out of money. US lending rates haven't risen dramatically over time (they are less now than during the crazy $266 bubble).
Unlike Bitcoinica, which limited lending rates to 20%, BFX has higher rates (typically 30-50% APR, or 100%+ in a crazy bubble) and thus more supply.
was bitcoinica peer to peer lending?
Sort of.... they used customer funds to do the lending and gave you a small amount of interest on any balance that wasn't used for margin. But they didn't have a lending order book like bitfinex. Rates were set by an algorithm.
was bitcoinica peer to peer lending?
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
Those numbers are likely fudged, and if not, about 11k coins are about to be sold when those USD borrowers decide they want to lay off the leverage.
Bitfinex is nothing new, you know. People take short positions there as well. People have been going long there for quite a while. Margin positions are part of a healthy market.
When bitcoinica ran out of cash the rallies ended and corrections started - are we there with bitfinex now?
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
Those numbers are likely fudged, and if not, about 11k coins are about to be sold when those USD borrowers decide they want to lay off the leverage.
Bitfinex is nothing new, you know. People take short positions there as well. People have been going long there for quite a while. Margin positions are part of a healthy market.
I lend quite a lot of money there now. Those #s are not fudged, I can tell you that.
It amazes me that some of the same people that think we can just magically go from here to $2500 without massive money moving into these markets are the same that doubt that 2.5 million is being lent on Bitfinex.
Jess, people. Jess.
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
Those numbers are likely fudged, and if not, about 11k coins are about to be sold when those USD borrowers decide they want to lay off the leverage.
Bitfinex is nothing new, you know. People take short positions there as well. People have been going long there for quite a while. Margin positions are part of a healthy market.
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
Those numbers are likely fudged, and if not, about 11k coins are about to be sold when those USD borrowers decide they want to lay off the leverage.
Or when they get force liquidated
. Big profit opportunity for someone with the coins to trigger it. I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
Those numbers are likely fudged, and if not, about 11k coins are about to be sold when those USD borrowers decide they want to lay off the leverage.
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Its pretty big compared with anything else I know out there. It currently has 2.5 million loaned in leverage trading.
I doubt its that big, at least not the leverage component. And,Bitfinex without the leverage is the same as any other exchange really, so its not hugely important for price discovery.
Looks like bitfinex is pushing bitstamp up at this moment (the bids there are a little bit higher than bitstamp bids - and you can observe that the borrowing is also pretty expensive at this moment). Is it already as big as bitcoinica in the past? Can it start and crash rallies?
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