Post
Topic
Board Speculation
Re: PANIC BUYING !!!!!!!
by
deisik
on 09/08/2016, 09:56:40 UTC
Nothing is permanent in the world, bitfinex scam is history now, people who have faith in bitcoin will continue to invest in it and that will gradually take price to higher level in future.

Investors will forget about the Bitfinex scam or hack very soon and the will start investing in the bitcoin again.

No degree of acceptance can ever change the facts. If you lost a decent amount of money, you will stay away from Bitcoin trading altogether. And no high-profile investor would be trading bitcoins either since there is no hedge against the systemic risk of an exchange hack (even if they set up an exchange themselves), be it a real hack or an inside job...

The writing was all over the place, in big red letters

That is one of the risks to take in trading, though we are making money because we are good in trading but we cannot do any good when hacking strikes, besides that is all about the money so we really cannot tell if there is something going on inside.

This is not a trading risk (i.e. a risk of an adverse price change), to begin with. It is a counterparty default risk, i.e. a risk that the counterparty will not live up to its contractual obligations. For example, a risk of failing to return funds to the client on his demand...

In real world such risks are mitigated, for example, by establishing clearing houses and insuring client funds