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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 15. (Read 723903 times)

hero member
Activity: 2576
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well i traded a lot 10Years ago, i actually tradedevrything that moves, i lost a lot on ISL/EUR at 2007 just before the crash i bought a milion against the eur, and no 24/7, so it was a gap, luckly i manage to get out way before a 70% crash of ISL, and manage to have a positive balance, but it could happen i would be oweing them the saxo read this 550.000 EUR-os, if I wouldnt close with a small loss of 5K. LOL

I never hold futures over even a 1hr close period. That's the thing, you have to weigh up the risks involved in anything you do in trading. Even then the worst thing that would happen in futures trading is all the FCMs would blacklist you until you paid back the debt. With crypto trading, you don't even have that hanging over you. The chances of wiping an account at such low leverage are pretty small and the most you stand to lose is your risk capital anyway.
hero member
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So the question is would you trade margin on bitfinex, if u were hit on flash crash and your stop loss wasnt hit, and u end up with owing them 20% of your capital?

I do trade with margin on Bitfinex. I also trade futures with much higher leverage (300x to 500x) and I've witnessed flash crashes on the S&P 500 and Swiss Franc to just name two. This is part of the risk in trading. Normally automatic systems close out the trade, that's designed to protect the broker more than the trader because they know that if your account goes negative they have very little chance of recovering the money. I really don't think 3.3x leverage is all that risky and anyway you should never trade with money that you cannot afford to lose.
legendary
Activity: 2126
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Please, people, start your own thread about tether. It's going on and on, over dozens of pages of posts now.
I am very aware of tether, its volume, dubious audits and critical voices by now. And also that there is no proof whatsoever that tether or its USD backing is foul.

Please cut it off, I want to read about stuff concerning bitfinex directly here only.

Thank you.

Ente
hero member
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It's exactly the same story you posted above from a different news outlet. In summary Jordan Belfort says he has a suspicion that it may be fraud. Well that's conclusive evidence, isn't it?
legendary
Activity: 1470
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full member
Activity: 141
Merit: 101
I'm using the android app and the website and the funding books don't appear to be the same. See the screenshots for ETC below. While on the website there's a big wall on the offer side at flash return rate (FRR), in the app that wall isn't there most of the time. Does anyone know why? What's the point of a funding book if it's not reliable?
did you try to increase precision? (+ button)
They have the same precision. Look at the steps in which the rate progresses. Exactly the same but vastly different ETC amounts. The only explanation i can think of is that there's a bug in the android app that causes it to ignore all the offers that have set "FRR" as their rate, so it would only see offers with a fixed rate (FRR is dynamic).
hero member
Activity: 1034
Merit: 558
I'm using the android app and the website and the funding books don't appear to be the same. See the screenshots for ETC below. While on the website there's a big wall on the offer side at flash return rate (FRR), in the app that wall isn't there most of the time. Does anyone know why? What's the point of a funding book if it's not reliable?
did you try to increase precision? (+ button)
full member
Activity: 141
Merit: 101
I'm using the android app and the website and the funding books don't appear to be the same. See the screenshots for ETC below. While on the website there's a big wall on the offer side at flash return rate (FRR), in the app that wall isn't there most of the time. Does anyone know why? What's the point of a funding book if it's not reliable?

Note: screenshots were taken at the same time.



legendary
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hero member
Activity: 2576
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Freebitco.in Support https://bit.ly/2I9BVS2
Bitcoin has long outgrown many of the ideals that it was based on and this has also lead to many old-time Bitcoiners exiting the community out of frustration.

I admit it, I'm an old timer holding on to the ideals that attracted me when I first heard about Bitcoin in 2012. It is becoming increasingly difficult for anyone to stick to that ideal of financial transactions free of the banks and government.

What changing bank accounts to different jurisdictions tells us about Bitfinex is just a matter of opinion and there's no surprise that our opinions differ.
sr. member
Activity: 658
Merit: 282
No legit exchange (from the big exchanges I only
consider Bitstamp, Gemini and Bitflyer to be legitimate) has to switch their bank accounts constantly.

This really comes down to what you see as 'legit'. I'm not making any argument that various governments don't want to force KYC and AML on to the whole of the Bitcoin world and turn it into another arm of the banking system that they can control. This doesn't lead me to the conclusion that they are a scam it leads me to the conclusion the vested interests want rid of them.


I agree that this comes down to the definition of "legit".

However, I think we might already be at a point where Bitcoin is pretty similar to traditional asset classes.
We already have all kinds of derivatives (Swaps, Futures...), margin trading has been available for years and
even obscure altcoins can be shorted using Bitfinex or Bitmex. Bitcoin has long outgrown many of the ideals
that it was based on and this has also lead to many old-time Bitcoiners exiting the community out of frustration.
Especially stuff like ICOs is pretty far from the ideas that the people had in mind, who wanted cryptocurrencies
to become a better system than the current banking system.

What leads me to my negative impression of Bitfinex is not that certain governments want to get rid of
less compliant exchanges like BFX, but rather that they have a history of not delivering on promises and a recent
history of switching bank accouns from one jurisdiction to another on a monthly basis. Legit businesses usually
have long-standing relationships with their banks. Meanwhile criminal organisations have to play
cat-and-mouse games with regulatory entities and banks.

Besides, some of the involved people don´t have a particularly immaculate track record. E.g. I don´t know of
any shenanigans by the people, who run Bitstamp or Bitflyer while certain people from the management of BFX/Tether
have been involved in some pretty shady stuff (e.g. @urwhatuknow was selling pirated copies of Microsoft
software back in the 1990s).



hero member
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No legit exchange (from the big exchanges I only
consider Bitstamp, Gemini and Bitflyer to be legitimate) has to switch their bank accounts constantly.

This really comes down to what you see as 'legit'. I'm not making any argument that various governments don't want to force KYC and AML on to the whole of the Bitcoin world and turn it into another arm of the banking system that they can control. This doesn't lead me to the conclusion that they are a scam it leads me to the conclusion the vested interests want rid of them.
sr. member
Activity: 658
Merit: 282
...

but it still doesn't mean anything other than Bitfinex is continuing to go from strength to strength as a leading crypto exchange.


That might be a bit of a stretch in my opinion. E.g. if I want to make a fiat deposit to Bitstamp I have to
wire money to a Slovenian bank account. The bank information has been the same for more than 3 years and I even
have it saved in my online banking account, because of increased convenience.

On the other hand Bitfinex has switched their banking details 3 times in the last 2-3 months.
At first they were using a bank account of a payment processor in Poland, then they switched
to a Dutch account in the name of a shell company and now they apparently have a Portuguese bank
account in the name of another company. No legit exchange (from the big exchanges I only
consider Bitstamp, Gemini and Bitflyer to be legitimate) has to switch their bank accounts constantly.
Meanwhile Bitfinex had no banking at all for several months and now continues to switch from banking
in one jurisdiction to another. It is almost as if they are playing a cat-and-mouse game with
the banks and the regulatory entities.

@mayax
I was able to obtain this exclusive footage of Quickseller and TheQuin  Grin



hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
They bough the company  last year (05.04.2017).  They changed the directors and so on. The same directors as they have in all their fraudulent companies.. Smiley

Molina Lee, Ivan Manuel
Krämer, Ivo Michael

 I know more than you think about how the things are working in this business, Mr Bitfinex shill aka  TheQuin

Fair enough, seems like a very sensible acquisition. Must be the first time you got something right but it still doesn't mean anything other than Bitfinex is continuing to go from strength to strength as a leading crypto exchange.
legendary
Activity: 1470
Merit: 1004
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.

Again you jump straight to an incorrect conclusion. The fact that a company is using payment processors to receive funds != doesn't own any funds.



it's Bitfinex not a payment processor.  stay cool !  Smiley

Global Trade Solutions Ag - "Adjustment and Collection Services" founded in 2001.

I'm cool, but as ever you are talking nonsense.

They bought the company  last year (05.04.2017).  They changed the directors and so on. The same directors as they have in all their fraudulent companies.. Smiley

Molina Lee, Ivan Manuel
Krämer, Ivo Michael

 I know more than you think about how the things are working in this business, Mr Bitfinex shill aka  TheQuin
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.

Again you jump straight to an incorrect conclusion. The fact that a company is using payment processors to receive funds != doesn't own any funds.



it's Bitfinex not a payment processor.  stay cool !  Smiley

Global Trade Solutions Ag - "Adjustment and Collection Services" founded in 2001.

I'm cool, but as ever you are talking nonsense.
copper member
Activity: 2996
Merit: 2374
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.
Bitfinex holds funds on behalf of their customers. They do not own money held on behalf of their customers, however they do own money earned from commissions/fees/etc.
legendary
Activity: 1470
Merit: 1004
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.

Again you jump straight to an incorrect conclusion. The fact that a company is using payment processors to receive funds != doesn't own any funds.



it's Bitfinex not a payment processor.  stay cool !  Smiley
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.

Again you jump straight to an incorrect conclusion. The fact that a company is using payment processors to receive funds != doesn't own any funds.

legendary
Activity: 1470
Merit: 1004
I noticed that Bitfinex changed again their bank, now they use a Portuguese bank, has anyone tried to deposit fiat money since this change?


GLOBAL TRADE SOLUTIONS A.G.
Address Bahnhofstrasse 21, 6300 Zug Switzerland
Account number PT50003502160007611117018
Bank Name  CAIXA


Bitfinex itself doesn't own any funds. They own many other companies in order to open new bank accounts.  Why? because they are fraudsters and their bank account are closed one by one.
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