Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16785. (Read 26712668 times)

..... the gates are going to open soon....

Finex update


BCH pairs are now available for margin trading
Announcements > BCH Distribution Update
August 02, 2017
BCH Distribution Update

Bitcoin Cash (BCH) distributions have been calculated for qualifying Bitfinex users, and corresponding balances have been credited. Balances were aggregated across wallets with the resulting BCH being credited to each user’s Exchange Wallet.

What follows is an explanation of the calculations and adjustments used for determining the distribution coefficient.

The Numbers

After the fork, Bitfinex held 101,798.8855 BCH to distribute coming from 131,237.8562 BTC in settled wallet balances and -29,438.9707 BTC in unsettled margin positions, resulting in a distribution coefficient of 0.7757.

However, after adjustments for manipulation attempts (outlined below), the final coefficient used for distributing BCH was 0.8539

The Situation

The intent of the BCH distribution mechanism was to protect lenders who were already locked into loans at the time of the announcement and to avoid distributing negative balances to shorts on an uncertain value of an unproven digital asset.

With this intent in mind, the BCH tokens were distributed with an adjusting factor to account for long/short imbalances in gross margin positions. Accordingly, as shorts would not have to ‘pay’ BCH, we believe it was fair and symmetrical to not credit margin longs, yielding an adjusting factor that historically seldom varies more than 10% when compared with gross balances.

After the methodology announcement on July 27th, several accounts began large-scale manipulation tactics in an attempt to obtain BCH tokens at the expense of exchange longs and lenders on the platform, causing the distribution coefficient to artificially plummet.

We have determined that this kind of manipulation - including wash trading and self-funding shorts - is in violation of Bitfinex’s terms of service. Those who intended to take unfair advantage of the circumstances surrounding the BCH distribution at the expense of other users have been sanctioned accordingly.

The Resolution

Upon careful review and analysis, we have decided to disallow any hedged BTC balances in excess of any such hedged balances that may have existed at the time of the July 27th distribution announcement. While this may be disappointing to some, it is welcome news to the many users with bona fide BTC exposure through settled wallet balances. This adjustment increases the distribution coefficient from 0.7757 to 0.8539.

We do not take this action lightly. The inadequate timelines imposed upon Bitfinex forced swift action when addressing and remediating this situation. Our purpose has been to distribute all BCH to our users in the fairest way possible. Given the aforementioned restrictions, with our corrective actions, we believe that we have made good on that promise.

The Future

The next step is to monitor the forked network and open BCH withdrawals. We expect BCH withdrawals will be opened within the next 24 hours.

Regarding the possibility of adding BCH trading pairs, we continue to monitor the market. BCH deposits will only be enabled if and when BCH markets are created.

We will have another update within the next 48 hours to address these potential next steps.

At the small, very underestimated freebitco... . This was only possible for balances held with them before July 31.

I was wondering if bitcoins from BTC-e wallets were used to get BCHs as well. They could  repay back bitcoins to all their clients and still keep some nice pocket change

It will be interesting to see which dormant BTC addresses move to sell their Bcash tokens.

Will give a better idea of which addresses are dead and which are just hodling.

I'm not really that familiar with the standard Core wallet,
Try "listaddressgroupings' in console that might list all the addresses including change addresses.
Check how much/when they had coins in, using  blockchain explorers.
Then you can display the private key for any that arevrelevant.

Finally dumped my shitcoins and got ~2BTC, pretty good for a couple of hours work (most of which was waiting for blocks to confirm)

  Just changed my BCC for BTC at 0.145 rate. Without cost or exchange risks... . Might be not the most profitable action, but I can see no reason why BCC would have any significant advantage over BTC.

Most likely wanting to grab a piece of the BCC pie, it is free money after all!  

They want the bch )

tell me whats in this black hole

In other news, WannaCry ransom coins on the move...

http://money.cnn.com/2017/08/03/technology/wannacry-bitcoin-ransom-moved/index.html

thank you so far!!! at the incoming addresses i had 2. and i exported those priv keys. do i need to export something else??

I dont know why this quote was attributed to me! I did not complain about the Electron Cash wallet! I am still using it and holding my BCC until i can dump them on some exchange as soon as deposits open! 

You were warned many times on this thread to not use Electron Cash scam!

I think your issue is the addresses you think you are using are not the ones you are actually using..

here is your transaction  on 2017-04-29 08:03:55
https://blockchain.info/tx/e313a5cbdd7bbfb18d87696aa06ad56d57f46196dc6a5c32bf7a246b5a1b969d

It send the change to 1KQJPShQd27Y4fxKHd4CUwJ96cLt2epiiZ

If you look at the change address on Blockdozer (BCH explorer)
http://blockdozer.com/insight/address/1KQJPShQd27Y4fxKHd4CUwJ96cLt2epiiZ
That links to your transaction sending 1.00122667 BCC, on 2/8/17  but it comes from these two

1KQJPShQd27Y4fxKHd4CUwJ96cLt2epiiZ
1N2tAEbyZVQVqrRUC3xr2D2FPkJTqbaCRr

Not the ones you think it was coming from.

.. I am no longer logged in- but I transferred some BCH into my margin wallet-  did not check to see if it increased my collateral- just checked it went in.  Will log back in when I can and check

Have a look here it a photo from the wallet:

EDIT: i send August 1 and August 2 1 btc on each transaction. By that time the fork has happened

https://www.bitfinex.com/posts/213

Can I use my BCH as margin collateral?
BCH will not be eligible as collateral for margin positions.
...but at BFX, our rules changes according to our moods..

I had my BTC stored on kraken before the fork. I received my BCH from Kraken about 4 hours after the fork.