Post
Topic
Board Exchanges
Re: BTC-e hacked ??
by
erk
on 16/08/2017, 09:10:24 UTC


Yes, Bitfinex has set how a trading platform can really recovered from a devastating scenario like hacking. They decided against shutting down the exchange and bet they could pull out of the mess. By offering at least 64% returns for customers, they are relieved by this effort by Bitfinex. However, by offering tokens to the customers, 36 percent that was taken from their accounts. Management promised the tokens would eventually be exchanged for cash or equity in Bitfinex’s parent company. Initially, the price of each token plunged. Eventually, a  cycle kicked in. As the tokens rose in value, confidence swelled and traders returned, boosting earnings from transaction fees and the likelihood of a successful turnaround is seen. While it’s not clear whether Bitfinex’s recovery strategy is one that will be adopted for another crisis, the idea of using tradeable tokens is catching on. And I personally think that if BTC-e wants to recover and pay this customers back, they can used this strategy that Bitfinex has managed to pull.

The success or failure of such a strategy, will ultimately depend on BTC-e's ability to convince people of it's long term viability.
First an foremost is the placement of their servers out of FBI reach so they don't get shutdown again. This is not as easy as it sounds, but it it not impossible either. There are many countries that wouldn't let the FBI do anything on their soil. If BTC-e can convince me that their servers are safe, I would give them the benefit of the doubt and trade on them again.