Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18298.

HI-TEC99

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Quote from: adamstgBit on August 07, 2016, 11:59:23 PM

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820) up to 1,190,000BTC ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.

very rough numbers.

Is the name of the new token BFX Omni? There's a reddit thread discussing the new setup and one post calls the tokens BFX Omni. I can't find anything else about them yet, but I only skimmed through most of the Bitfinex announcements and could have missed details about the tokens.

https://www.reddit.com/r/Bitcoin/comments/4wnfj6/bitfinex_is_back_up_functionality_disabled/

adamstgBit

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Quote from: DaRude on August 08, 2016, 12:22:05 AM

Quote from: adamstgBit on August 07, 2016, 11:59:23 PM

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820) up to 1,190,000BTC ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.

very rough numbers.

Hacked BTC exchanged with negative equity and legal liabilities up to their necks is worth 7.5% of ALL btc created so far? Lately you've changed Roll Eyes

LMAO! yup.

but... assuming the deal sticks then they are 100% solvent again, and this time probably will actually have some serious security on there cold wallet.
so what is it worth somthing that nets profits to the tune of ~2000BTC / month worth?

hmmm.

i'm going to revise my numbers to 30million up to 200million.

Tongue

DaRude

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Quote from: adamstgBit on August 07, 2016, 11:59:23 PM

I would value bitfinex the company anywhere from 198,000BTC ($117,728,820) up to 1,190,000BTC ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.

very rough numbers.

Hacked BTC exchanged with negative equity and legal liabilities up to their necks is worth 7.5% of ALL btc created so far? Lately you've changed Roll Eyes

adamstgBit

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I would value bitfinex the company anywhere from 198,000BTC ($117,728,820) up to 1,190,000BTC ($707,562,100)
so IMO a fair deal would be that all these BFX tokens put together represents shares equal to 10-60% of bitfinex inc.

very rough numbers.

DaRude

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Quote from: adamstgBit on August 07, 2016, 12:09:59 AM

shes growing

https://blockchain.info/address/35emx395afKAKAr72VoePVbu3FJvxLPVny

there is somthing strangely satisfying about watching unconfirmed TX accumulate

She's still growing up to almost BTC92k. Thought they lost ~60% of BTC ? Looks like they're already rebuying BTC with other assets somehow/somewhere?

adamstgBit

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Quote from: DaRude on August 07, 2016, 10:58:58 PM

Quote from: adamstgBit on August 07, 2016, 08:32:36 PM

Quote from: LogHangingConsortium on August 07, 2016, 08:28:08 PM

Quote from: adamstgBit on August 07, 2016, 08:23:57 PM

Quote from: MatTheCat on August 07, 2016, 08:19:20 PM

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

BFX tokens != BFX shares, just an IOU. In the future (soon™) some users (non US?) might even be able to switch them for shares, thus setting up a secondary market for BFXtoken trading. But everyone should get distribution of BFX profits (if they'll ever occur) according to the amount of owned BFXtokens. Or at least how I read this.

i read it as the BFX tokens are payment in full for the 36% they took away
and the actual meaning ( what they represent ) of "BFX tokens" is yet to be determined.

DaRude

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In order to dump coins one must have coins

Quote from: adamstgBit on August 07, 2016, 08:32:36 PM

Quote from: LogHangingConsortium on August 07, 2016, 08:28:08 PM

Quote from: adamstgBit on August 07, 2016, 08:23:57 PM

Quote from: MatTheCat on August 07, 2016, 08:19:20 PM

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

BFX tokens != BFX shares, just an IOU. In the future (soon™) some users (non US?) might even be able to switch them for shares, thus setting up a secondary market for BFXtoken trading. But everyone should get distribution of BFX profits (if they'll ever occur) according to the amount of owned BFXtokens. Or at least how I read this.

DaRude

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I don't see a single valid point in anyone arguing against BFX enabling withdrawals of 60% of user funds Huh

adamstgBit

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not to long ago, at bitfinex's Hong Kong office....

sure thing Ted!

keewee

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Quote from: adamstgBit on August 07, 2016, 08:38:24 PM

Quote from: keewee on August 07, 2016, 08:28:57 PM

Quote from: adamstgBit on August 07, 2016, 08:17:54 PM

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring Cheesy

this page?

https://i.imgsafe.org/7e26c6f700.png

That's the one! So much security...

adamstgBit

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Quote from: keewee on August 07, 2016, 08:28:57 PM

Quote from: adamstgBit on August 07, 2016, 08:17:54 PM

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring Cheesy

this page?

https://i.imgsafe.org/7e26c6f700.png

adamstgBit

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Quote from: LogHangingConsortium on August 07, 2016, 08:28:08 PM

Quote from: adamstgBit on August 07, 2016, 08:23:57 PM

Quote from: MatTheCat on August 07, 2016, 08:19:20 PM

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is... Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can doulble our money in a week. No time to explain, you in?

all i'm saying is ill consider the tokens

i see this as a unique opportunity to own shares in a bitcoin exchange.

but obviously the deal has to be priced right...

savetherainforest

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Plant 1xTree for each Satoshi earned!

Quote from: keewee on August 07, 2016, 08:28:57 PM

Quote from: adamstgBit on August 07, 2016, 08:17:54 PM

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring Cheesy

Maybe they where working on a new platform and it was in a beta stage... or they pulled a miracle out of their asses! Cheesy

keewee

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Quote from: adamstgBit on August 07, 2016, 08:17:54 PM

hey its back up

https://www.bitfinex.com/

Great, detailed security page. Reassuring Cheesy

savetherainforest

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Plant 1xTree for each Satoshi earned!

Quote from: adamstgBit on August 07, 2016, 08:08:15 PM

Quote

However, under Hong Kong law, Bitfinex will not be able to force creditors to accept its proposal. Unlike in the US and Japan, Hong Kong does not have a system of bankruptcy protection to facilitate a Bitfinex reorganization. By arguing that Bitfinex is insolvent, creditor lawsuits could force Bitfinex into liquidation where creditors can take control.

and of course no one has to accept it, i dont believe going to court would yield a better result or less of a haircut to BFX's users, but wtf do i know.

i would imagine the bigger players from BFX are talking to their lawyers now, it wont be long until we know for sure if they will take the settlement or go to court.

The crowd will demand confidence or retaliation... I don't see any other outcome! ... And maybe the other exchanges would participate in a small percentage on the bail-out.

The path to confidence is the best option .. but will the odds be in favor of confidence??

LogHangingConsortium

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Quote from: adamstgBit on August 07, 2016, 08:23:57 PM

Quote from: MatTheCat on August 07, 2016, 08:19:20 PM

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

But ...you don't even know what the deal is?
Hey, listen, remember how I said you'll never see your money if you send it to me? I changed my mind. Got this sweet deal in the wings that can double our money in a week. No time to explain, you in?

adamstgBit

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Quote from: MatTheCat on August 07, 2016, 08:19:20 PM

So, who is going to be stupid enough to lay a finger on their BFX tokens?

i'm a sucker for a sweet deal that no one wants to touch.

conspirosphere.tk

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Quote from: adamstgBit on August 07, 2016, 08:17:54 PM

hey its back up

https://www.bitfinex.com/

Now check your balances and prepare to trade your freshly minted BFXcoins.
It looks like we gonna need a BFXcoin wall observer thread too now -or maybe not, if they drop to zero and stay there as I would expect.

LogHangingConsortium

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^Adam said he's thinking about it. For his sake, I hope he's lying.

https://www.bitfinex.com/security_policy Cheesy

MatTheCat

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Quote from: adamstgBit on August 07, 2016, 08:18:32 PM

Quote

Site Relaunch
August 07, 2016
We are beginning the process of bringing the platform online in a controlled and secure way. Currently the site is available on a read-only basis as we continue to work towards enabling full functionality. This means that users will be able to log into their accounts but trading, depositing, and withdrawing will remain disabled at this time.

Please be aware of the following changes required by the ongoing platform recovery:

Users will be required to reset their password.
Users will be required to reset their 2FA, if applicable.
Clef has been disabled for all accounts. We have reset our security keys with Clef, requiring users to re-enroll.
All API keys have been revoked. The creation of new API keys will be re-enabled within the next 48 hours.
Please take this time to log in and review your account and balances, taking note of the adjustments caused by the closing of open margin positions and the application of the Extraordinary Loss Adjustment. The loss adjustment is represented by your balance in “BFX” tokens which are priced at 1.00 USD until we are able to allow trading of that token, likely within the next week. The trading of BFX tokens may be restricted for US customers.

Full platform functionality will come online in progressive steps in the coming days. Withdrawing, depositing and exchange trading will come online first, with margin trading (for non-US customers) to resume sometime after that. Further announcements will be made when the schedule for turning on those features is finalized. Once again, we thank you for your patience.

The Bitfinex Team

So, who is going to be stupid enough to lay a finger on their BFX tokens?

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18298. (Read 26608375 times)