Post
Topic
Board Bitcoin Discussion
Re: Should we be worried with Bitfinex?
by
Herbert2020
on 20/11/2017, 06:45:23 UTC
It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

people have been shouting lots of shit about bitcoin ever since it was created, like from day one. and one of the things they love to shout repeatedly ever since 2013 is saying blank is the next mtgox and bitcoin is going to die because of it. they have even been seeing the same chart and call each price (nearly every $100 step) as the top of the "bubble" like $1200 was for mtgox

it has never been true and it never will be true either.
mtgox was like the only exchange of 2013 which controlled nearly all the bitcoin market (it had about 80% of volume which might as well be 100%). in comparison bitfinex has only less than 10% of the total volume and the volume coming from USDT is much less than this which makes it negligable.

unless you think some exchange can pump bitcoin price globally with that kind of "share of the market", then there is no way what you said is true.