Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 24. (Read 723886 times)

There was a DDOS attack last week that involved, among other things, creating hundreds of thousands of accounts in order to overload Bitfinex's servers.

What's the deal with these invite codes? Is it a way to temporarily restrict new customers and lighten the load or is it something a bit more permanent and extreme? Never heard of an exchange doing that before.

Bitfinex, if you're listening, can you support ticket #311499.

i can't verify at the moment (no vpn), but it looks like bitfinex is now requiring "invitation codes" from existing users in order to register. the last time i saw this kind of policy was in torrenting communities for pirating media/software! pretty weird, and kind of off-putting. there's been no announcement from bitfinex. it's not clear whether all new signups are disabled or if (like you said) it's a matter of verified vs. unverified users.

seeing multiple threads like this pop up today:
https://bitcointalksearch.org/topic/--2610576

and hundreds of posts on their reddit about it:
https://www.reddit.com/r/bitfinex/comments/7knsee/bitfinex_invitation_code/

also, PSA which may or may not be related: chris ellis (bitfinex employee) used to have warrant canaries displayed on his profile. they're gone.

I just received info that my code doesn't work.
and there is this note on affiliate page:
[Disabled for new signups]

so either signups are stopped or code from unverified users doesnt work anymore. i didnt see anannouncement about that though

First month halved fees: uqNq71YYiS

Cheers,

Ente

Hello, I would really appreciate it if someone sent me an invitation code as well. I could share what research I have done so far and what I'm investing into and we could exchange ideas! Very Active.

Are the withdrawals backed up for all currencies or just specific currencies?

Because I've made BTC withdrawals in the last week that has gone thru swiftly, but some alternate currencies such as Ripple that has been pending for a few days.

It was only Interactive Brokers when I looked a couple of days ago. Those are all small retail brokerages, what I'm getting at is that most professional futures traders using the big FCMs wouldn't be able to trade it still stands valid. Also, they'll all be waiting for the CME tomorrow evening anyway not least because the contract is 5x the size so it means that costs will be much lower.


Again a retail brokerage.


Not how I imagine it will play out. Futures don't get used like that as you would be paying interest and to fees constantly rollover contracts.
The advantage of having futures available to institutional investors is that it allows them to hedge. So if they were holding 100 BTC and they thought the price was going down over the next few days they would just short equivalent size in the futures (20 CME contracts). This saves them all the hassles involved in actually selling Bitcoins and it is just as easy to cover the position when they think the sell off is over. This means they wouldn't have to actually hold coins on an exchange they can look after them safely and the costs involved in doing it this way are trivial compared to actually moving coins and money in and out of crypto exchanges.
That's the whole thing here about the futures, they just open up possibilities that make Bitcoin more attractive to a lot more people. Don't expect the CME contract to trade huge volume the first days or weeks, this will build up slowly.

I guess it's not that simple

If I'm not mistaken, these are cash-settled futures. That basically means you can neither sell nor buy real bitcoins when you deal in these futures. Apart from that, when you buy a contract someone has to sell it to you, and there might not be many traders willing to sell them since this is not the same as selling real bitcoins. With bitcoins you don't incur any losses when you sell the coins and then their price rises. But this is not the case with futures where your loss can be virtually infinite if you short, i.e. sell them and the price shoots to the moon soon thereafter

One broker?

I count at least 4 at:
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures#tradenow

-Advantage Futures
-Interactive Brokers
-Straits Financial
-TradeStation

TD Ameritrade (one of the biggest US brokers) is going to start trading the futures on Monday, too.

I agree that futures are intended for a different purpose. However, they still allow investors to speculate on
the price of the underlying asset. I would argue that it may actually be a better way for institutional investors,
because they don´t have to worry about cold storage, malware, inside jobs of "rogue employees" and so on.

Yes, only a handful of people are determined to see everything in a negative light.


That is to ignore that CBoE is a very small futures exchange and the contract is only supported by one broker so far. Also, it rather misses the purpose of futures. They are an instrument for trading and hedging primarily and are not used by investors.


Why not? Investors that actually want to hold Bitcoins cannot do it via the futures.

Active Margin Funding is over 921M $ right now.

Since the 11th of December a staggering 305M $ Tether have been issued.
The pace of this development is accelerating. Total Tether issuance has already
crossed the billion dollar threshold.

Does anyone actually believe Tether received 305M $ in wire transfers in the last 5 days?
This just seems highly unlikely to me. Institutional investors are even hesitant about the
regulated futures so far and the trading volume at the CBOE has been pretty dismal. Yet
people claim that investors are wiring 305M $ to buy Tethers in order to buy cryptocurrencies
in just 5 days?

Are the crypto withdrawals still backed up or are they faster now?

Edit- Oh wow, it wasn't backlogged for me, just now, took 5 min. That is surprising.

That is in response to the ongoing DDoS attack, they also seem to have reduced the inactivity timeout period making logging back in a more frequent occurrence. On the positive side at least it isn't Google's reCaptcha.

Reddit on r/bitcoinmarkets and r/bitfinex. Also on email.

I don't know, but here they don't.

Where do they reply?

Support never replies on this thread.

Didnt receive a withdrawal email and my funds are stuck. Please sort it out as soon as possible.
#658039