where is the evidence of some kind of "fraud?"
We have a difference of opinions with the whales on Bitfinex and the whales on Stamp... and the others are waiting to see which way we resolve.
I don't understand what the evidence of bitfinex fraud is, at the moment.
What happened last August certainly doesn't bode well for them.
That's bullshit.
August was nearly an eternity in bitcoinlandia.
NOW, I will concede that in August the Bitfinex situation was quite dire and very questionable whether they were acting with integrity or if they would recover from the whole situation.
They also pulled off a considerable amount of innovation that a lot of people thought would not work.
The fact of the matter, their credibility might be damaged in the eyes of some, but they pulled off some pretty amazing feats in the last 6 months.
At best, their security was run by nincompoops, that allowed a "hacker" to steal umpteen private keys.
I agree that the story just does not seem to add up, but Bitfinex has had an amazing recovery, and so far, their recovery has not been shown to be smoke and mirrors (even though it could be).
At worst, they are a bunch of scammers that used a "hack" as a cover up for running a fractional reserve after some bad naked moves on the marginal exchange.
I think that you are engaged in a bunch of unfounded conspiracy theory speculation, here.
I still have no idea why people would use them. I guess sheeple always go to where the most volume is, even if they're being led to the slaughter. Maybe they all think they can pull out in time. But we all know that simply planning on pulling out is a bad family planning strategy.
Yes. There is risk to get involved in various exchanges, but so far, our system of price finding happens through exchanges, and until we transition to some other system, exchanges seem to be a necessary evil.... or at least part of our current world.
Let's see. Maybe some day exchanges will become a thing of the past, but they are a thing of the present, so we need to live in reality rather than wishing that reality were something else... or act like reality is something else.
