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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 34. (Read 723903 times)

hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
The announcement contains misleading and false information, as well as being so generally vague. This is exactly the type of half-assed bullshit that BFX regularly peddles. It also makes no mention of how one is to withdraw USD, nor any type of reasonable offer like waiving wire fees or final trading fees on these force conversions since this is all BFX's fault. Let's look more closely.

"As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017."


The previous announcement gave no date, so it was not "indicated." What does "by no later than" mean here? Tomorrow? November 9th at midnight? Why be so vague? Why not have an actual lawyer write these instead of Raphael or Giancarlo, or whomever?

"This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017."

This is simply false. This clause contains no "by no later than" language and says effective November 9th. Instead of going by their publicly posted timeline BFX cut off US lending on October 25th.

Why does BFX provide vague and outright false information to their customers? Let's hope they are merely incompetent. If there was any other site that offered lending and leverage like this then they would sweep up all of the business because of BFX's bullshit.

Well I'm not directly affected by it so I didn't really read anything into "by no later than" other than meaning that 9th Nov was the date, but I take your point.

As for withdrawing USD, there have been no wire facilities available for a long time so using USDT and sending to another exchange that you can withdraw from is the only option.
MOB
hero member
Activity: 493
Merit: 504

And since BFX has still yet to issue an announcement about this, yes, if you are a US user you are unable to lend and need to convert to and withdraw BTC, or contact support for a USD withdrawal.

A mature company would have made an announcement containing the date USD could no longer be lent by US customers, then had the withdrawal date 30+ days after. BFX decision making always seems to be this frenetic ill-thought out policy that screws some portion of their customer based needlessly.

They did issue a statement giving 26 days notice.

https://www.bitfinex.com/posts/227
Quote
Announcements > Update: U.S. Individual Users October 16, 2017

This message is further to our announcement of August 11, 2017, with respect to terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform. This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.

All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.


The announcement contains misleading and false information, as well as being so generally vague. This is exactly the type of half-assed bullshit that BFX regularly peddles. It also makes no mention of how one is to withdraw USD, nor any type of reasonable offer like waiving wire fees or final trading fees on these force conversions since this is all BFX's fault. Let's look more closely.

"As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017."


The previous announcement gave no date, so it was not "indicated." What does "by no later than" mean here? Tomorrow? November 9th at midnight? Why be so vague? Why not have an actual lawyer write these instead of Raphael or Giancarlo, or whomever?

"This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017."

This is simply false. This clause contains no "by no later than" language and says effective November 9th. Instead of going by their publicly posted timeline BFX cut off US lending on October 25th.

Why does BFX provide vague and outright false information to their customers? Let's hope they are merely incompetent. If there was any other site that offered lending and leverage like this then they would sweep up all of the business because of BFX's bullshit.
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
BFX is slimy, but are your "losses" her in the from of hypothetical gains if you had held all of the coins BFX took @$636 or whatever? That's a bit suspect if so. You could have bought in when they redeemed all tokens and been ahead even in that hypothetical game.

I do understand people getting upset about these hypothetical losses in that they were forced to liquidate their crypto holdings into fiat. But this also shows that Bitfinex isn't a scam. If it was that would have been the time they made the exit, but instead, they did their best to compensate customers and get the business back up and running.

And since BFX has still yet to issue an announcement about this, yes, if you are a US user you are unable to lend and need to convert to and withdraw BTC, or contact support for a USD withdrawal.

A mature company would have made an announcement containing the date USD could no longer be lent by US customers, then had the withdrawal date 30+ days after. BFX decision making always seems to be this frenetic ill-thought out policy that screws some portion of their customer based needlessly.

They did issue a statement giving 26 days notice.

https://www.bitfinex.com/posts/227
Quote
Announcements > Update: U.S. Individual Users October 16, 2017

This message is further to our announcement of August 11, 2017, with respect to terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform. This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.

All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.

U.S. individuals holding Recovery Right Tokens (RRTs), if any, which relate to the exchange of now-defunct BFX tokens to equity in iFinex Inc., may, starting on October 27, 2017, sell all of their RRTs on the exchange, if they so elect. This is an exception to the general terms of use for RRTs. U.S. individuals are not permitted to buy RRTs during this time period. All terms and conditions relating to the sale of any RRTs remain in full force and effect and are deemed to apply to the sale of any RRTs by U.S. individuals or otherwise. Any RRTs remaining in the hands of U.S. individual verified customers after the November 9th deadline may be sold through Bitfinex on an OTC basis through special arrangement with us.
MOB
hero member
Activity: 493
Merit: 504
even from:

- cashing out bfx tokens & converting back to btc

- interest made from lending btc

- cashing out bch converting to btc

- cashing out btg converting to btc

- *and* buying btc

I still haven't gotten back the amount of btc that was stolen from me on bitfinex.

Now they are kicking out the u.s. customers that were stolen from, real commendable.

That being said, at least i could withdraw, unlike bittrex who's locked up my altcoin after gladly accepting the deposit

pretty much fuck all of these exchanges & the bootlickers that promote them.

BFX is slimy, but are your "losses" her in the from of hypothetical gains if you had held all of the coins BFX took @$636 or whatever? That's a bit suspect if so. You could have bought in when they redeemed all tokens and been ahead even in that hypothetical game.

And since BFX has still yet to issue an announcement about this, yes, if you are a US user you are unable to lend and need to convert to and withdraw BTC, or contact support for a USD withdrawal.

A mature company would have made an announcement containing the date USD could no longer be lent by US customers, then had the withdrawal date 30+ days after. BFX decision making always seems to be this frenetic ill-thought out policy that screws some portion of their customer based needlessly.
full member
Activity: 212
Merit: 108
@mayax

Thank you for this interesting link.

Is there any similar link about Bittrex?
pfx
newbie
Activity: 31
Merit: 0
even from:

- cashing out bfx tokens & converting back to btc

- interest made from lending btc

- cashing out bch converting to btc

- cashing out btg converting to btc

- *and* buying btc

I still haven't gotten back the amount of btc that was stolen from me on bitfinex.

Now they are kicking out the u.s. customers that were stolen from, real commendable.

That being said, at least i could withdraw, unlike bittrex who's locked up my altcoin after gladly accepting the deposit

pretty much fuck all of these exchanges & the bootlickers that promote them.
legendary
Activity: 1470
Merit: 1004
you must be either a sheep, an idiot, a brainwashed or a shill if you don't see the FACTS about this criminal company, named Bitfinex:

There are so many proofs that you can find yourself. It's not worth it to waste my time to put the whole list about Bitfinex's shit.

I will just add another one:


https://medium.com/@bitfinexed/bitfinex-never-repaid-their-tokens-bitfinex-started-a-ponzi-scheme-86a9291add29
legendary
Activity: 2618
Merit: 1007
Meh, just wait - for sure there will be some youtube videos posted with "proof" and "facts"...
legendary
Activity: 2800
Merit: 1012
Get Paid Crypto To Walk or Drive
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?

Bitfinex is a criminal company and their bank accounts were closed. Of course , they opened another one but it's mainly used for their pockets and some "special" clients. They are using a shell company for that.

Bitfinex will never open new bank accounts for its clients because they are banned of the banking system due to their illegal activities.  Stay away of them!

Quite a bold statement.
Any proof for that?

Ente
No he is a professional troll.

Sure seems like it, come in with guns blazing spouting nonsense and providing no backup for it.  Probably best to ignore him.
copper member
Activity: 2996
Merit: 2374
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?

Bitfinex is a criminal company and their bank accounts were closed. Of course , they opened another one but it's mainly used for their pockets and some "special" clients. They are using a shell company for that.

Bitfinex will never open new bank accounts for its clients because they are banned of the banking system due to their illegal activities.  Stay away of them!

Quite a bold statement.
Any proof for that?

Ente
No he is a professional troll.
legendary
Activity: 2126
Merit: 1001
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?

Bitfinex is a criminal company and their bank accounts were closed. Of course , they opened another one but it's mainly used for their pockets and some "special" clients. They are using a shell company for that.

Bitfinex will never open new bank accounts for its clients because they are banned of the banking system due to their illegal activities.  Stay away of them!

Quite a bold statement.
Any proof for that?

Ente
legendary
Activity: 1199
Merit: 1047
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?

Bitfinex is a criminal company and their bank accounts were closed. Of course , they opened another one but it's mainly used for their pockets and some "special" clients. They are using a shell company for that.

Bitfinex will never open new bank accounts for its clients because they are banned of the banking system due to their illegal activities.  Stay away of them!

Which illegal activities?
legendary
Activity: 1470
Merit: 1004
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?

Bitfinex is a criminal company and their bank accounts were closed. Of course , they opened another one but it's mainly used for their pockets and some "special" clients. They are using a shell company for that.

Bitfinex will never open new bank accounts for its clients because they are banned of the banking system due to their illegal activities.  Stay away of them!
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?
Guess this was the last statement so far: https://www.bitfinex.com/posts/203

What about... Get some cheap BTC and withdraw them?  Huh

Other than that the only other option is to withdraw USDT to another exchange that you can make a fiat withdrawal from.
legendary
Activity: 1045
Merit: 1157
no degradation
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?
Guess this was the last statement so far: https://www.bitfinex.com/posts/203

What about... Get some cheap BTC and withdraw them?  Huh
full member
Activity: 212
Merit: 108
What's going on?

We were not able to withraw US dollars from Bitfinex throughout the past few month, also if we were Germans or Swiss.

Is this issue in the menatime solved? Can we now again withraw dollars from Bitfinex?
legendary
Activity: 1199
Merit: 1047


AFAIK support doesn't read here any more. I sure miss the times with Giancarlo here, who else? :-)

Check reddit, /r/bitcoin or better "bitcoinmarkets" or similar.

Ente

It was quite hilarious sometimes.
legendary
Activity: 2126
Merit: 1001
*
Attention support, I really need to get response to tickets  #665018 and #682224 related. Please help.
*

AFAIK support doesn't read here any more. I sure miss the times with Giancarlo here, who else? :-)

Check reddit, /r/bitcoin or better "bitcoinmarkets" or similar.

Ente
newbie
Activity: 40
Merit: 0
*
Attention support, I really need to get response to tickets  #665018 and #682224 related. Please help.
*
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
Question. Can I place...advanced orders on the site without any third party tools? I am talking about margin sell/buy WHEN price goes below(or above) a certain price? And then trail that order.


Bitfinex manual trading interface provides OCO (One Cancels Other) so you can place both a profit objective and a stop loss at the same time and the other order will get canceled when one is filled. There is also a trailing stop. What it doesn't have are contingent orders so if I understand what you are asking for the answer is no. You can use either a limit or stop market to enter but then you would have to manually set the trailing stop after you got filled.
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