Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18304. (Read 26608284 times)

Now that put a hope in some souls who are looking at some QE's.

will bitfinex users accept a generalized loss percentage of 36.067% across all accounts and assets. or will we see a class action soon?

bitfinex says:
which seems like a fair statement.

plus with their proposal bitfinex is fully back up and running soon, allowing users to access their funds right away.

i'm betting this arrangement will stick.

All this sh!tstorm started on August 3rd ... so they had 2-3 days time to do stuff.

Fiat transfers don't work that well on Saturdays and Sundays though...

holy shit,

it is amazing,

we have to sell our houses yatchs one sport cars , then buy bitcoin in the next few hours.

Probably this will happen...  

Good catch


Or 777

I panic bought at $4xx

I panic sold at 771$    ... Could have sold at 773$.   

So who panic sold at 4xx?

This looks like its gonna blow out of proportion.

I see he/they stopped pumping and they are accumulating... Judging by the volumes they are trying to dry what is left out so they can push upwards easy, with resistance only from the exchange, and not even that since everyone will try to buyback in.  


*Edit: And it seems that they might be buying from Stamp. Or they already bought till now mostly what they had to buy, and they are needing a bit more.

Yes. The spike was starting as I was typing. When I started to type my post it was about $580 on Bitstamp and $586 on Bitcoinaverage.

I had a flurry of phone calls and visitors and then I check back and they're both up $5.

Yes I think the Finex panic is done. I'm waiting to see what happens when the banks open after the weekend. I'm guessing an influx of fiat at the exchanges and a spike upward.

If they are doing it at all, it's already done. You think they are going to do it after they make the announcement? LOL.

I can't think of any way they can buy those coins without mooning the price. The Bitstamp hack caused a crash, but the Bitfinex hack might cause a moonshot. Release of the news of their plans pumped the price, but after they start buying there will be rocket pictures in every other post in this thread.

Is these news true? https://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

Bitfinex hold 1 million ETH, so that's 18K BTC. If we take the same ratio of total holdings to margined for USD as for ETH, then that's about 76M USD or around 130K BTC at current prices. 330K minus approx. 150K would mean they held 180K BTC, thus lost around 2/3rds.

How are they planning to buy 75k coins off the market without insta-mooning the price (OTC?)? Who's gonna sell them all of those coins at ~$600?
Also how will they liquidate 36% of LTC ETC and ETH without tanking their price accordingly?

 Sure, currently the announcement from Bitfinex is missing some specifics, but it is specific enough in order to provide some better ideas regarding what they are thinking and the direction that is outlined. 

In essence, as already mentioned the haircut for all users and all asset classes is a shade over 36%, and even though I was a bit surprised by the spreading of the loss across all asset classes, upon further reflection, it does seem to be a more fair way to keep the amount of the haircut down to a lower amount while creating a system that seems to allow for the sucking in of all current Bitfinex account holders into having a vested interest into the positive future performance of Bitfinex by creating a Bitfinex token that will likely be able to be traded in the future, but also the token and the plan have the potential of causing complete reimbursement in the future (kind of takes advantage of the gambling and trading tendencies of anyone who would be inclined to hold assets in a Bitfinex account)...

Yeah, sure, they may not follow through, and yeah, they may be a bunch of scumballs who are inclined to run off with coins; however, at this point, it doesn't seem to be a dumb plan - and it has quite a bit of creativity that definitely buys time and could also have the effect of inspiring some additional confidence,

Surely, this particular plan as generally outlined seems a bit more bullish than other possible scenarios that could have played out.

Just stay away from bitfinex

Sure, there is no problem with thinking creatively and making productive proposals about better ways to do things.  I think that there is sufficient mechanisms to work within the system to make proposals and to attempt to persuade, rather than plotting and attempting something contentiously... Anyhow, no problem with making improvement proposals, whether that be about the technology itself or about governance.