Bitcoins - digital currency - Page 1299 - Business, Finances and Investing Forum

Whenever a huge amount of FUD dips the price.

This latest bitfinex thing was the latest example. As usual, its a nothingburger.

If USDT/bitfinex actually goes bust, then that'll be a great buying time imo. Everyone will be saying the world is ending, and a year later no one will care.
I wish this would happen, although it would be temporarily very painful.

In other words, buy the day before options expiration. That's when the guys at CME have been paper shorting and our up to their asses in losses so they come out with FUD like suing Bitfinex so they can get a price drop for 24 hours so they can cash settle their shorts at a discount.

This is seriously what happened. You can see BTC gets slammed 24 hours prior to options expiration because of this news and is held down and INSTANTLY stops being surpressed at 4pm that Friday.

Everyone who was long futures got robbed.

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05-07-2019 , 01:55 PM

#32452

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 47,098

The "NYAG was short Bitcoin" is a Shamalanian twist I did not see coming.

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05-07-2019 , 07:52 PM

#32453

bucktotal

old hand

Join Date: May 2006 Posts: 1,667

Binance hacked... been a rough month for exchanges...

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05-07-2019 , 10:26 PM

#32454

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,782

Quote:

Originally Posted by bucktotal

Binance hacked... been a rough month for exchanges...

Big score. 7,000 btc

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05-08-2019 , 12:21 AM

#32455

Dutch101

old hand

Join Date: Jun 2010 Posts: 1,989

No API's would mean no automated trading and that would crash volume making your exchange less attractive.

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05-08-2019 , 02:54 AM

#32456

beansroast01

Carpal \'Tunnel

Join Date: Jul 2006 Posts: 20,494

The biggest drama of this whole thing isn't even the lost funds - it's this:

There was actually a consideration to attempt to reorg BTC to reclaim the lost funds

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05-08-2019 , 03:27 AM

#32457

Mat Cauthon

adept

Join Date: Mar 2006 Posts: 1,147

Yeah, that's so dumb. I've never trusted Binance or CZ, and this just adds to that. But that Jihan Wu would even discuss a reorg attempt is a little bit scary. It wouldn't work, but he is the only one with anywhere close to the influence to do it. You would think that he would have learned his lesson though, after everything that's happened in 2017 and 2018 :-)

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05-08-2019 , 05:32 AM

#32458

Pinkmann

old hand

Join Date: Nov 2014 Posts: 1,488

BNB hardly dumped on the news. Will this not impact their burns?

edit - Shouldn't impact burns, but might cause BNB to not go up for a while.

Last edited by Pinkmann; 05-08-2019 at 05:49 AM.

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05-08-2019 , 07:43 AM

#32459

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 47,098

Why did the hackers steal 7,000 BTC last year and 7,000 again this year? Seems like they're crazy consistant

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05-08-2019 , 10:25 AM

#32460

JackInDaCrak

Just Another Dopamine Pump

Join Date: Dec 2006 Posts: 9,149

Quote:

Originally Posted by imjosh

The biggest drama of this whole thing isn't even the lost funds - it's this:

There was actually a consideration to attempt to reorg BTC to reclaim the lost funds

Isn’t this coin supposed to be immutable? How is this even an option, what a joke!

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05-08-2019 , 10:41 AM

#32461

Pinkmann

old hand

Join Date: Nov 2014 Posts: 1,488

Its stupid to even say it was considered imo.

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05-08-2019 , 11:19 AM

#32462

TeflonDawg

Pooh-Bah

Join Date: Oct 2006 Posts: 5,933

Quote:

Originally Posted by RT

Why did the hackers steal 7,000 BTC last year and 7,000 again this year? Seems like they're crazy consistant

The biggest fear here is that they can actually steal at will and are showing it by doing it this way. /ConspiracyTheory

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05-08-2019 , 10:34 PM

#32463

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,535

Quote:

Originally Posted by White_Gatsby

Hahaha, have you even looked at the chart. BTC has literally adhered to support and resistance from birth ans especially during this bear market! Like it's so easy to chart it, the fact you are too dumb to see that and you think s/r does not apply just shows me the level you are at. Not to mention your idiotic ramble of a post.

The only time it doesn't is when the bull market has started and it breaks all time previous highs at which point it's all just speculation and dumb money fomoing in. I do not have enough confirmation to confirm the bull market has started! I guess you do, you don't even need 6k to break and act as support

I guess you are too stupid to realise that a TRADER can play both sides, I don't care where price goes, as I will make money either way.

If you don't understand logic, as in if X does this then X will do that, then I cant help you. It's not rocket science, I'm not going to go allin based on my bias, if I say it can go up or down, certain specific conditions have to be met, so naturally a trader has options to play either side, while dumbasses like yourself can only blindly enter and hope they are right!

Why don't I buy in right now, it's simple, probabilities ( you do know that word, right, it's not too long of a word, perhaps get your mommy to explain it to you). Chances are we back test at LEAST 4k, though I think we go lower. So why buy in now at 6k, if I think the price will go lower.

If I'm wrong and frankly that's very possible then I'll simply wait for 6k to be reclaimed, it has to break it and not be a simple fake out, which again is possible, hence why I stated it must reach 8-9k first, then I'll wait for a retrace and buy in and ride the uptrend.

You have to be some kind of special to think BTC does not adhere to support and resistances, while the entire 10 year graph has shown it does exactly that!!!

I have taken halving into account, have you looked at history for BTC?

Last time with tether fud, they said exactly the same dumb **** you are saying right now, that 6k was the floor and btc wasn't budging, which meant the obv that bad news wasn't affecting price and the bear market was over, in fact it was pumping, then what happened a few weeks later?

You still sitting on the sideline with your thumb up your ass? Once again, let me know when you make your move you dumb ass. Gonna be a LONG time until one of your stipulations is hit, if they ever are. You think downside is capped at 4k because that's where you would buy at and upside is unlimited and you think it's best to sit on the sidelines. Better check your math.

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05-09-2019 , 12:00 AM

#32464

coordi

Carpal \'Tunnel

Join Date: May 2007 Posts: 22,846

He should not have put that out there

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05-09-2019 , 12:20 AM

#32465

Adjusted

adept

Join Date: Jul 2016 Posts: 1,093

I have crypto, including Bitcoin, stuck on Binance. I never received an email or anything about the theft. On his Twitter, the CEO recommends people change their password and 2FA. If it is that important to change passwords etc. why wouldn't he put it in an email? Also, how does someone hack thorough a 2FA? This is very strange.

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05-09-2019 , 12:24 AM

#32466

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 47,098

Quote:

Originally Posted by Adjusted

I have crypto, including Bitcoin, stuck on Binance. I never received an email or anything about the theft. On his Twitter, the CEO recommends people change their password and 2FA. It it is that important to change passwords etc. why wouldn't he put it in an email? Also, how does someone hack thorough a 2FA? This is very strange.

What are you trying to imply? That exchanges embezzle funds, which they claim are safu, by saying they've been hacked and then repay their users in their own tokens? That's ridiculous.

That's as crazy as saying that a stablecoin that refuses to allow an audit but maintains that it's backed 1:1 by dollars might not be backed 1:1 by dollars.

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05-09-2019 , 01:41 AM

#32467

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,506

So they're going to pay back in BNB. Obv missed that part if it's been discussed here before.

That is redic if true. Should at worst be fiat, and really obv should be btc.

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05-09-2019 , 03:16 AM

#32468

TheMVP

old hand

Join Date: Oct 2007 Posts: 1,753

No they are not paying back in BNB, RT is just a BTC hater because ?reasons?

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05-09-2019 , 04:05 AM

#32469

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 47,098

Quote:

Originally Posted by Go Get It

So they're going to pay back in BNB. Obv missed that part if it's been discussed here before.

That is redic if true. Should at worst be fiat, and really obv should be btc.

CZ claims it will be in BTC. It was BNB last year, when Binance was also hacked for exactly 7,000 BTC, that's when they established SAFU.

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05-09-2019 , 07:50 AM

#32470

Adjusted

adept

Join Date: Jul 2016 Posts: 1,093

Quote:

Originally Posted by RT

Interesting angle. I hadn't even considered it.

My question remains though, how could anyone hack a 2FA? I use Google 2FA and I've never heard of one being hacked.

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05-09-2019 , 08:45 AM

#32471

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,535

Quote:

Originally Posted by Adjusted

Interesting angle. I hadn't even considered it.

My question remains though, how could anyone hack a 2FA? I use Google 2FA and I've never heard of one being hacked.

I think the hack has been more of an inside job or due to lack of security at Binance then they have admitted to. Like the attack was someone hacking into Binance's servers or someone working at Binance and less like someone randomly phishing multiple accounts completely outside of Binance, then just using the info to login.

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05-09-2019 , 09:54 AM

#32472

Adjusted

adept

Join Date: Jul 2016 Posts: 1,093

Quote:

Originally Posted by onemoretimes

I think you're right. This is what they're saying happened:

"We have discovered a large scale security breach today, May 7, 2019 at 17:15:24 (UTC). Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet."

For hackers to get 2FA codes, they would have to get it from the Binance server since the 2FA code changes every 30 seconds at the customer end.

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05-09-2019 , 09:59 AM

#32473

White_Gatsby

banned

Join Date: Jan 2018 Posts: 1,232

BTC won't go over 7k! This run will end soon and all the moonboys will be left in tears!

See you at 2k!

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05-09-2019 , 10:03 AM

#32474

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,782

The 2FA code changes every 30 seconds or so, but the seed key that generates those codes never changes. If Binance retains copies of the seed keys and they were compromised, then yes your 2FA is compromised. May as well just go through the process of creating a new one.