Bfx bitfinex

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Bfx bitfinex
Bitfinex effects a recovery of assets stolen ethtrader from. Bitfinex during the hack, they will distribute them to the. BFX holders. They are debt backed tokens. Sounds great. Let's look at. BFX 's Roses and Thorns.

recovery may include any of the following: recovery of stolen property; funds raised in one or more financings; and available cash from ongoing operations. And no profit sharing from Bitfinex. No dividends, they have no legal security. The language is very wishy washy. BFX has no cashflows, the token has been issued to you without reduction of or other release or waiver of any claims you may have. BFX aren't consumed or used in any process.

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A customer's CLAIM may supercede these tokens. IANAL. P (Probability) the Bitfinex hackers are caught and the BTC recovered AND Bitfinex still remains in business AND Bitfinex honors its loosely worded promises My guesses P Hackers are caught and the BTC recovered in 3yrs 5.. Loading.. Bitfinex still don't know how the hack happened. Bitcoin developer Peter Todd publicly tweeted in the last 2 weeks that 2 different Bitcoin exchanges ( Exchange 1 and Exchange 2 m/petertoddbtc/status/ ) were insolvent and that the customers should remove their money from them.. A quick look at BFX, the token that Bitfinex is issuing to make its customers whole. Bitfinex s BitGo wallet system was hacked on August 2nd and 119,756 BTC were stolen from Bitfinex. 100 Redemption of Outstanding BFX Tokens - Bitfinex blog.

Lenders, which is what BFX token holders are now, have no liens or collateral, have only loosely worded promises. This is crucial and unfortunate and materially reduces BFX value. BFX suffers from Bitfinex counterparty risk. Bfx bitfinex Bitfinex is pleased to announce that we will shortly be redeeming 100 of all currently issued and outstanding BFX tokens. This will be the final redemption of BFX tokens created in August 2016. After these redemptions, no BFX tokens will remain outstanding; they will all be destroyed.

Loading. The interactive transcript could not be loaded. Loading. Rating is available when the video has been rented. This feature is not available right now. Please try again later. I speculated months ago that. Bitfinex is a full-featured spot trading platform for major digital assets cryptocurrencies, including Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, Monero and many more. Bitfinex offers leveraged margin trading through a peer-to-peer funding market, allowing users to securely trade with up to 3.3x leverage. A quick look at. BFX, the token that. Bitfinex is issuing to make its customers whole. Bitfinex 's BitGo wallet system was hacked on August 2nd and 119,756 BTC were stolen from. BFX may be worth par (100 their nominal dollar value, a debt term) if Bitfinex and international law enforcement agencies can track a 65mm Bitcoin thief. History suggests this is unlikely. Does this mean bitfinex can get out of the legal predicament they are in? If a major investor is announced to save bitfinex will this BFXcoin rally up towards 1. Conversely if no investor is located and the lawyers begin to circle will it crash to 0. TLDR : BFX coin seems to be a great health meter to track what the insiders are doing at finex. No, Bitfinex and Bitfinex employees are barred from buying or selling any BFX tokens. Bitfinex is, however, making every effort to redeem the outstanding tokens at 1 USD each. There are several initiatives we are investigating to make this possible. P Bitfinex honors its loosely worded promises 95 Evidence: bad business not to, but if they are in extremis, who knows, and other creditors may come first. My BFX price formula with the above inputs works out to 3.3 of par value (3.3 cents on.

You create a sell order on one of the sites. There are physical Bitcoins but basically, they re just the key to an electronic account printed in some form.

I had 800 ETH parked on the Bitfinex exchange and was making decent returns from lending, about 10 ETH per month at the time (Bitfinex had much better interest rates than Poloniex when they first started offering ETH margin trading).
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Bitfinex Group at the Bitfinex Groups sole option for its face value less the amount of any prior redemptions. Translating that for you, these tokens are IOUs in the event that.

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 Bitfinex is a cryptocurrency exchange trading and currency-storage platform from Hong Kong, owned and operated by iFinex Inc. Bitfinex was hacked in May, 2015. The exchange has its internal BFX token. Take a look on the last news, fees and review of Bitfinex. 

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But it does illustrate that ETH could have some major gains in the long-term. Ethereum News - CCN Ethereum News.