Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitebits
on 18/04/2017, 18:27:19 UTC
concerning Bitfinex's solvency, etc... , unless you just wanting to spread fear and just bullshit that is not really backed up by the facts

Well, there _is_ the fact that some time ago they lost quite a large sum of funds to theft. That is a _fact_ that directly impinges upon their solvency. Of course, we don't _know_ how significant that loss is in relation to their assets.

Have you seen their current balance sheet and P&L Statement? No? Hmmm.

At this time, there is not really any evidence of bitfinex solvency issues - beyond a bunch of nearly pure speculation.

Yes, we can agree that there were major issues in August, and yes we can agree that Bitfinex has not shared a lot of specifics and yes we can speculate that there may have been some insider job aspects to the august "hack".  

We also know that bitfinex employed a lot of very creative and innovative recovery tools, and seem to have a pretty decent recovery... Yeah, sure some of that "recovery" is likely to be smoke and mirrors, but that does not even come close to rising to the level that insolvency should be considered as some kind of central issue in this current situation that seems plausibly connected with bank relations issues and largely not made up by bitfinex.

So why read malevolence into what could more easily described as incompetence?  especially if you have little to no evidence to back up your less likely scenarios?

There is a chance Bitfinex is indeed currently USD insolvent, according to the market(price).