Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18334. (Read 26709389 times)

mean while i'm still waiting

I don't know, Adam.  You may be misreading this a little bit.  

I think that you are correct that the current proposal intends to cause a 36% shaving across the board for all account holders and all asset classes that were in effect at the time of the discovery of the supposed hack.

At the same time, my understanding of the BFX coin is intended to allow some kind of recognition and representation of the 36% loss, and over time those BFX coins could change in value and possibly allow for some future recuperation of some of the 36% loss.  The BFX coins will be tradeable etc, and accordingly, that trading of BFX coins could cause individual BFX coin holders to lose more or less in terms of the extent to which they may chose to engage in such trading of BFX coins.

EDIT:  PS... @ADAM::: I see that you pretty much recognized the BFX coin issue in your subsequent posts, so my above reiteration of points that you seem to have recognized seems to be a bit redundant (nonetheless, I will leave my above post in place, since I had already written and posted it)

Ended up buying some more right now.... waiting for the weekend dip cost me a $50 premium, fuck 

Nope... it does not make it clear ...

The thing is ... when do they get back those 36% of their money/coins back? ... And I'm not asking when... but if they will get that full 36% back! Like full restitution!!! + % interest!

Because in the end... their entity was proprietary of the coins thieved... and basically in the future they would have legal ownership over the parent address codes that where stolen.


*This is pure theoretical: And keeping that in mind... A tactical missile can be literally bought and executed on a target for less than 10.000$ .. that is less than 20BTC at the current rate. And now depending if that missile is a small nuke warhead with a mediocre 5% enriched radioactive material or just something simple like C4 payload. And after hearing this, do they really actually think that taking 36% and never giving that percentage back is a good idea? .. I mean, Hong Kong where they have their server in the crystal palace skyscraper, or the owners and employees at their homes where they live... Do you think they will get away without retaliation? And all this from an all theoretical perspective of someone who does not own anything in the Finex exchange... What do you think it will happen when the ones that actually own the power of a few millions will/can do?

*The proper response of Finix is: We are on our knees, in front of you! We are your slaves, and we will take it in!.. as hard as you will give it to us! Till we will pay you back that 36% confiscated from you.

And a more proper way to bail in with that 36% is to restore everything as it was before the hack to everyone, fiat or bitcoin, but not allow for those 36% to be removed from the exchange. Basically you can gamble as it was before, but 36% of the settled initial amount will be compromised and kept hostage on the trading table.

Even though you are coming off as a fucking goofball troll, this seems to be a quasi-relevant question.

The latest BFX notice, which was issued a bit over 24 hours ago, had said that they were planning to come back online in a limited capacity in the next 24-48 hours.  So, yeah, we are within the window period in which they could come back online, but yeah, none of this is set in stone, especially if they potentially were to run into some SNAFUs on their end that could cause additional delays.

No, I am not taking their side on anything, but to the extent that this problem could actually be real (and not created by Bitfinex themselves), it is definitely reasonable that sorting it out could take a considerable amount of time and a considerable amount of weighing their options, including their public communications of such decisions, once made.  Also, surely some of the earlier communications and notifications can serve as test balloons in weigh various aspects of public reaction and the extent to which the public may know things that have not been made public.

I suspect that once Bitfinex goes on line, it may take several days, and maybe even a week before they actually resume trading.  In this regard, the extent to which their going on line could cause additional discussion, surprises or curve balls in their determination whether to actually go live with their currently proposed path forward.

I wouldn't miss this for the world. A real world, real time, case study in stockholm syndrome.

It sucks, but a bankruptcy court is the only way these jagoffs aren't going to be laughing their asses off at you as they "socialize" their mistakes onto you without oversight.

I'm sorry you lost money, at least try to save some of your dignity by not giving these assholes a pass.  

not lambie btw, at least not the real one.

Director Tuckett (not) answering some questions:

https://www.youtube.com/watch?v=DUpfGRDN4IY

being NLC all you can focus on is their fuck up.
nothing they do will change your mind about them
"
they are evil poeple looking to steal your money.
much like a mugger.
bla bla bla
bitcoiners are stupid
bla bla bla
"

GTFO of here man.

i've explained this 100X
suing bitfinex will get you a far worse deal then they are offering.
i didnt even know about the tokens and i thought it was still a better option to go along with their bail in rather then suing them
if you hate bitfinex, when they open again withdraw all your coins, and wait to sell your tokens.
I however might be buying the tokens.
bitfinex fucked up, sure, but IMO they are handling this exceptionally well. with a  better security model, and some time, i now believe they can once again be #1 BTC/USD exchange.
the MTGOX explosion and Bitfinex are as different as night and day.
i am impressed with their swift and fair actions.

They don't want to turn off their magic money making machine, that much is clear... they just aren't aware it's shattered, strewn across the shop floor, irreparably destroyed yet?


Can't imagine that happening... lol.



1) Facilitate or participate in the loss of near 40% of your clients' money.

2) Shrewd clients say "it isn't that bad, could be worse", "hopefully they'll start trading again soon."

3) Clients light up with glee when bankrupt organization floats pie in the sky idea of illegally offering non-enforceable equity to non-accredited investors (many/most of US domicile) in said bankrupt organization in lieu of rube's money.

[Just Bitcoiner Things.]

Nothing stopping people from suing after they get their 64% out of that bad neighborhood.
If a mugger tells you he'll return half of your money if you promise not to go to the cops, whatever you tell the mugger won't be considered binding by the court.

Yeah, people will sue. 100% chance.

I'm still waiting for the other shoe to drop from the rep. I'm betting on something negative in a few days, to swing the price down. I would.

^

iFinex Inc.
There is no Key Executives data available.
There is no Board Members data available.
There is no committee data available.

why do i keep hearing about "tokens" can someone point me to the source of this rumor.


LOL i see

well thats really fucking cool on there part.

my guess is: "zombie mode" as early as monday, and back to full operation by friday.

provided things go smoothly and no one try to sue them or somthing.

bail-in means that you simply use ( take with or without  permission ) other customer deposits to make yourself solvent again.
this is what BFX will do, they will take  36% of all customer deposit from all accounts and assets in order to cover the missing 119K BTC.


no this is a one time deal which will make BFX whole again. everyone losses 36% and thats all there is to it.


they can't, they can't access their accounts right now, when they do access there account, they will find the BFX  settled all there margin positions and took 36% of their holdings.


i hope this makes it clear.

^Getting dangerously close to altcoin discussion.

But back to the walls, any rumors on when BFX plans to refloat the Titanic restoke Chernobyl bring the site back online?  Heard something about Monday in zombie mode, should we start painting victory stripes yet?

P.S. watching huobi chart on bitcoinwisdom, look over to the other markets in the top bar, and "huh, finex is up to 604 already ... ? Doh!"

But tokens  

Name of the actor next to R.Kelly ? ... hmm?? (*Edit: nvm... found him... Eric Lane is his name.. )


Also the so called "bail in" ... did they also promised that 36% to be refunded in time back to the users? ... Or ... ? what?  ... I mean did they just went full commies on everyone's asses or they are just doing this temporarily and in time they will refund 1% every month or so? ... And what happens if that person removes the amount 64% that they still have in their account... will they be getting that 36% back in time even if their balance is 0$ / 0BTC ?

While the numbers are tallied " internally or on paper," who actually holds the funds? Whose wallets?
How would you do it? Walk me through.

But there are no "proven security methods" for an unlicensed futures broker, they don't exist. That's why other exchanges don't offer the stuff that made BFX great. BFX "security measures" were a bluff that got called.

So you are telling me that Finex settled positions via the block chain with these segregated wallets? This doesn't jive with "readily accessible/real time" as confirmations on the block chain take time. If they didn't settle each position via the block chain, but internally or on paper, then why couldn't they use actual security for actual block chain transactions?

P.S. "Proven security methods" only require that they actually be implemented. Third party audits and licenses are only for verification and compliance.

Promise of 64% of your money back is not the same as 64% of your money back. Count your blessings if you get anything back. The money BFX is spreading around is not theirs to spread. It's their client's money. This seems like a a legal quagmire.


Why didn't GOx thik of that, amirite? Those tokens are meaningless. BFX is not a public company, it can't legally issue shares (or tokens, or thigamabobs). It's also bankrupt. The SEC will take them down/shut off their $$$ supply (legacy banks).

P.S. How are you liking your socialized losses? Though totally pointless question, not like you have a choice, you'll eat your strawberries and cream and like it, Comrade Elwar