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There were also occasionally rolling rebuys of bfx tokens at the face value of $1.
While I'd enjoy a good detective journalism, this article is just making claims out of thin air. And here is one: > However, this doesn’t stop Bitfinex from tripping over their shoelaces to immediately list a fork which doesn’t exist, in order to make money off of suckers. That is not correct. Bitfinex didn't list Bitcoin Gold. They listed a future contract of Bitcoin Gold (though the naming "token" is a bit confusin…
Not going to afford another mtgox are we?
If I remember correctly the last ramp up happened during Mt. Gox era. They were having USD withdrawal issues which resulted in BTC prices being very high on the exchange. But it din't deter them from publishing prices and making markets.
Now is the case of Bitfinex suffered from a hack like Mt. Gox and are trying to stay afloat. As per coinmarketcap, has nearly 15% of bitcoin volume which is pretty high to ensure market follows in-step to their market making. A quick search on Google turns up pages of people asking about Bitfinex withdrawals.
For people who are curious about this, there was an article yesterday about Zimbabwean Bitcoin soaring to 12k USD, which obviously hinges a lot on counterparty risks and resulting low liquidity: https://news.ycombinator.com/item?id=15627608
> As Bitfinex has become more and more desperate, they have listed more and more crypto-currencies of questionable value, such as EOS/IOTA/ETP and so on. As per coinmarketcap.com: EOS is ranked 19, 442 million in marketcap IOTA is ranked 11, 950 million in marketcap ETP is ranked 70, 73 million in marketcap Anyone can throw some light on what these coins really are? Additionally, BTC markets: https://coinmarketcap.co…
IOTA actually seems pretty revolutionary. I don't think it's a finished product yet but if you want some info then it's a DAG ("tangle")[1] instead of a blockchain and offers 0 fees and possibly huge scalability. There are some products already using it: RuuviTag[2], Bosh XDK Iot[3], PoC ElaadNL charging station[4], Modum[5]. Once they prove they can go without the "Coordinator"[6] I'm going to be completely sold on…
However, at least the execution is dubious: not only was a major cryptographic vulnerability found a few months ago[0], it highlighted that
1. they made their own unproven crypto hash, which is a red flag, (in production, you should always prefer crypto that has survived many years of cryptanalysis) and
2. they were really not up-to-date on cryptanalysis techniques, as being vulnerable to differential cryptanalysis is, as Bruce Schneier puts it, "a rookie mistake".
Worse than that, they seem to rely on security through obscurity, purposefully making it hard to analyse their systems by making it base 3 (instead of the obvious base 2 that all of practical computer science relies on).
Finally, their justification for the coordinator is also a red flag[1].
[0] https://medium.com/@neha/cryptographic-vulnerabilities-in-io...
[1] https://medium.com/@ercwl/iota-is-centralized-6289246e7b4d
Reading this article made me wonder - how much of the bitcoin rally is due to counterparty risks? If I remember correctly the last ramp up happened during Mt. Gox era. They were having USD withdrawal issues which resulted in BTC prices being very high on the exchange. But it din't deter them from publishing prices and making markets. Now is the case of Bitfinex suffered from a hack like Mt. Gox and are trying to stay…
LOL Even better than a Ponzi Scheme, let's just sell "shares" of this "company" (which by the way has a paper value of a very round and big ZERO) for cash Toilet paper provides better value Oh wait, he "buys low and sells high", that explains it.
> As Bitfinex has become more and more desperate, they have listed more and more crypto-currencies of questionable value, such as EOS/IOTA/ETP and so on. As per coinmarketcap.com: EOS is ranked 19, 442 million in marketcap IOTA is ranked 11, 950 million in marketcap ETP is ranked 70, 73 million in marketcap Anyone can throw some light on what these coins really are? Additionally, BTC markets: https://coinmarketcap.co…
EOS and IOTA are legit!