Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18422. (Read 26720873 times)
August 02, 2016, 11:24:14 PM
August 02, 2016, 11:17:15 PM
!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!
This.
August 02, 2016, 11:16:44 PM
Estimating Finex's weekly volume at around BTC134k so about BTC6,968k/yr traded on finex. At ~ 0.25%fee on each trade Finex makes BTC17.5k/yr in fees. Depending how much BTC they held, and how much they have in assets, probably the best thing would be to try to run it as a fractional reserve with 50% in finexcoins.
they also make BIG profit when long and short get liquidated ( i would assume? )
and/or fee for swaps.
I think if they the lose represents <50% of their total holdings, maybe they could survive and work on a fractional reserve for like 10 years.
idk why but this seems like a pipe dream.
poeple will demand their deposits the first chance they get, and when bitfinex cant do that, they will take'm to court
August 02, 2016, 11:12:09 PM
!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!
Depends how successful a trader you are. It's possible to make some insane % profits in the alt markets, certainly more than the attendant exchange risk. The key is to return those profits to your wallet to cover your risk exposure.
August 02, 2016, 11:10:17 PM
Still way too early to call.
I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct.
At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted.
I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct.
At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted.
Dude, our grammatically challenged friend pumpy just showed you the scope of the problem.
dude u should follow this https://np.reddit.com/r/BitcoinMarkets/comments/4vtv1m/bitfinex_down_due_to_bitcoin_security_breach/d61oetn?context=3&st=ire3xc91&sh=1b8fd2f8
It's 119,756 BTC, some of that probably yours.
You think there is a chance of running an admitted fractional reserve exchange? Please. They need to be unwound now, and that's gonna be messy, it could be a years long process if Gox is any guide.
August 02, 2016, 10:58:06 PM
Quote
each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved.
its worth a look if you have a address with them but...
Quote
Quote
Also how can you justify that some users get their balances marked as "stolen", while others don't?
We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me.
I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen....
I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too.
Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors).
they lost too much, i dont see them relaunching ever. i'm not being pesimitic...
this will go to court.
1-2 years later you'll get back some % of your BTC/Fiat.
i doubt anyone will come out of it with 100% money back while other lose 100%
Think you somehow need to know your bitgo address? where funds are settled daily?
Estimating Finex's weekly volume at around BTC134k so about BTC6,968k/yr traded on finex. At ~ 0.25%fee on each trade Finex makes BTC17.5k/yr in fees. Depending how much BTC they held, and how much they have in assets, probably the best thing would be to try to run it as a fractional reserve with 50% in finexcoins.
August 02, 2016, 10:52:00 PM
Quote
each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved.
its worth a look if you have a address with them but...
Quote
Quote
Also how can you justify that some users get their balances marked as "stolen", while others don't?
We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me.
I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen....
I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too.
Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors).
they lost too much, i dont see them relaunching ever. i'm not being pesimitic...
this will go to court.
1-2 years later you'll get back some % of your BTC/Fiat.
i doubt anyone will come out of it with 100% money back while other lose 100%
Still way too early to call.
I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct.
At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted.
i'm trying to find out how much BTC they held in total
i've found nothing .
I learnt that they they held 102.5% of customer deposits and have the best security ever, with 99.5% in "cold storage." lol.
August 02, 2016, 10:50:36 PM
jj should listen to me more,lol
Jj and the others shills just do the play by play after it happens ...no foresight IMO
Two more goofballs with lame patronizing monday morning quarterbacking attempts.
If you had been trying to be nice, then I would like to say ditto to your statement as well.
I had been trying to be nice, too, and then you get especially severe in your patronizing and bullshit comments during market downturns and during times that are trying for a lot of bitcoin HODLers.
This symbol is what I think of your recent behavior:
August 02, 2016, 10:47:36 PM
Quote
each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved.
its worth a look if you have a address with them but...
Quote
Quote
Also how can you justify that some users get their balances marked as "stolen", while others don't?
We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me.
I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen....
I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too.
Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors).
they lost too much, i dont see them relaunching ever. i'm not being pesimitic...
this will go to court.
1-2 years later you'll get back some % of your BTC/Fiat.
i doubt anyone will come out of it with 100% money back while other lose 100%
Still way too early to call.
I mean, let's assume they lost 50% of their holdings in customer funds, then yeah, what you say could be correct.
At this time, we do not have enough information to confirm that they lost 50% of customer funds, and we are really in the dark until Bitfinex makes some kind of clarifying statement to give us some kind of ballpark idea of the real scope of the problem (even if they are not completely transparent about it, we still need to get some thing from them or some other authority that is able to more solidly confirm the matter), and price could shoot upwards or downwards based on the disclosures of actual facts... and it is even possible that BTC prices are currently going back up somewhat in anticipation that the news is not as bad as the worse case scenarios that are currently being painted.
August 02, 2016, 10:44:13 PM
jj should listen to me more,lol
Jj and the others shills just do the play by play after it happens ...no foresight IMO
Two more goofballs with lame patronizing monday morning quarterbacking attempts.
August 02, 2016, 10:42:17 PM
Quote
each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved.
its worth a look if you have a address with them but...
Quote
Quote
Also how can you justify that some users get their balances marked as "stolen", while others don't?
We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me.
I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen....
I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too.
Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors).
they lost too much, i dont see them relaunching ever. i'm not being pesimitic...
this will go to court.
1-2 years later you'll get back some % of your BTC/Fiat.
i doubt anyone will come out of it with 100% money back while other lose 100%
August 02, 2016, 10:38:53 PM
Quote
each user has their own address, so when we were hacked the bitcoin came from segregated customer wallets. Some users can see that their bitcoin was part of the theft, others can see that theirs wasn't. That's the only way to describe it.
You can check if your addresses were involved.
its worth a look if you have a address with them but...
Quote
Quote
Also how can you justify that some users get their balances marked as "stolen", while others don't?
We haven't said this is what we're going to do. In fact we haven't said what we're going to regarding this situation as we still don't know. It's a little bit unclear for me.
I see one address that I have with Bitfinex, and it shows a couple of recent transactions on it, but they do not really add up to my balance, and it looks like there was a movement of my coins in that address about 7 hours before the Bitfinex shut down, but that does not necessarily mean that my coins were stolen....
I think that it is really difficult to determine without Bitfinex confirming some of these matters and maybe even opening their site back up... but it's quite possible that the Bitfiinex site could be closed down for a week or longer.. who knows.. the sooner that they can get back up and running the better or at least if they can make some kind of clarifying statement in the coming days, that would probably be helpful, too.
Although I recall that sometimes in the past, they had made some pretty vague and quasi-nonsensical clarifying statements - but they had not had a breach as large as the current rumors are suggesting (if there is any semblance of truth in the current rumors).
August 02, 2016, 10:36:32 PM
price is doing pretty good. considering.
i'm thinking 599
i'm thinking 599
August 02, 2016, 10:34:17 PM
These are trying times but I think BTC will survive as it always does. It just blows my mind why people trust exchange sites this much.
You would have to be pretty stupid to leave coinz on an exchange ... and more so for purpose of leasing for shorting. These exchanges go bust/get hacked at rate of 1 every 18 months or more, i.e. the interest rates needed to justify a 1 in 18 month total loss of coinz is around 75-100% per annum ...
!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!
what about the really good ones?
heheh, especially the "good ones" and the "too big too fail ones" ... they are like catnip for hackers, the bigger the prize the better the scent
August 02, 2016, 10:31:48 PM
800 million USD-worth sold, and rebought today at 70% = 240 million USD gain
but one does not simply sell 1,457,328BTC on bitfinex in the morning and then rebuy in the afternoon August 02, 2016, 10:25:57 PM
I'm betting down to somewhere around 420$ USD in the short term. I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.
How do ya like me now JJG
I'm not sure how to take folks who want to claim credit for some unexpected event, without even proclaiming anything in the neighborhood of such an extraneous event... and therefore, you don't get credit for the occurrence of some extraneous event when you did not say anything at all about such.
You are like throwing a dart with the lights off and you happened to hit the target.
So fucking what?
Oh c'mon! Give me credit for a random pick that just happened to work out. You'd be impressed if I swished the hoop from half court blindfolded wouldn't you?
Sure... if you concede that it is childish fun and luck, then I have no problem giving you credit for some of the prediction.
I also have no problem having fun and engaging in silly games, even when there is economic value at stake.
On the other hand, if you are trying to proclaim that you possess some kind of skill or foresight in regards to this bitcoin price prediction matter in the way that you actually carried out the prediction and your lack of specifics, then that's another story.
August 02, 2016, 10:24:37 PM
These are trying times but I think BTC will survive as it always does. It just blows my mind why people trust exchange sites this much.
You would have to be pretty stupid to leave coinz on an exchange ... and more so for purpose of leasing for shorting. These exchanges go bust/get hacked at rate of 1 every 18 months or more, i.e. the interest rates needed to justify a 1 in 18 month total loss of coinz is around 75-100% per annum ...
!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!
what about the really good ones?
August 02, 2016, 10:20:52 PM
The 8% price drop from 7/31 to H-hour makes a little more sense - Bitfinex hackers shorting in advance of their score.
800 million USD-worth sold, and rebought today at 70% = 240 million USD gain, if price recovers to 600-ish.
So 60 million USD gain if no rollback. Eventual 240 million USD gain if a rollback occurs.
800 million USD-worth sold, and rebought today at 70% = 240 million USD gain, if price recovers to 600-ish.
So 60 million USD gain if no rollback. Eventual 240 million USD gain if a rollback occurs.
August 02, 2016, 10:17:38 PM
These are trying times but I think BTC will survive as it always does. It just blows my mind why people trust exchange sites this much.
You would have to be pretty stupid to leave coinz on an exchange ... and more so for purpose of leasing for shorting. These exchanges go bust/get hacked at rate of 1 every 18 months or more, i.e. the interest rates needed to justify a 1 in 18 month total loss of coinz is around 75-100% per annum ...
!!!!!DO NOT LEAVE YOUR COINZ ON EXCHANGES YOU FUCKING MORONS!!!!!
August 02, 2016, 10:14:06 PM
jj should listen to me more,lol
Jj and the others shills just do the play by play after it happens ...no foresight IMO
Two more goofballs with lame patronizing monday morning quarterbacking attempts.
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