Search content
Sort by

Showing 20 of 1,329 results by HorseRider
Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 01/09/2015, 02:01:08 UTC
They're offering to give me back 2344.5 of 6537.61  USD lost from a good faith effort to close a position. I am guilty of hitting close more than once, but I refreshed before doing so and the info displayed in the browser obviously did not indicate that previous market orders had gone through (otherwise their engine would have bounced the new orders because they're not supposed to stack). I got caught in a loop of confusion where i was a short then a long etc, but since their web server was feeding me wrong info during the crash I feel wronged by bfx. I do not know how to respond to the offer.

The button bug could very likely be intentionally. We can all image who is getting benefit from the 6537.61-2344.5= 4193.11, the unregulated Bitfinex exchange.
Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 31/08/2015, 14:16:12 UTC
Aug 31st, 2015.

Bitfinex is offline again.



Bitfinex.com offline again, orders don't seem to be getting accepted through UI. (self.Bitcoin)
submitted 1小時前 by bell2366
It's crazy you press button and absolutely nothing happens! Any decent programmer could manage a 'Server not responding' type message.

Rumor goes that in webchat groups,

Quote
Bitfinex's bank account got serious trouble, as they are suspected are related with money laundry. They were asked to corporate with the investigation from government.
Their cold wallet now has only 90k bitcoin left, only half as short time ago.

Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 26/08/2015, 18:24:35 UTC
I have been able to withdraw 40+ BTC multiple times without any issues. They were always processed almost immediately with a transaction being broadcast prior to the next block being found. The only delays I have ever experienced with them was during the stress tests however I believe that was due to the unavailability of confirmed unspent inputs.

Their number and severity of problems is small IMO

There is similar long time of history, when everything with mtgox is right. However, from some time the mtgox started to show very risky signals, and less than one year later, it collapsed.
Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 26/08/2015, 18:17:01 UTC
Below is written by the user on Reddit whose ID is "elux". When I submit this, it has get 26 up votes already.

Quote
Bitfinex is not a financial services business run by competent, experienced professionals.
Bitfinex is not built from the ground up on sound principles of engineering.
Bitfinex was copied from the leaked bitcoinica codebase, a Ruby-on-Rails app written by then 16 year old Ryan Zhou.
Saying "they reverse-engineered it" would be overly charitable.
Bitfinex was released within some weeks of the Bitcoinica source code leak.
The codebase was copied from a defunct, thrice robbed company.
That code is not capable of keeping the database consistent at peak loads.
That code is not scalable. That code was not, and is not correct.
Not correct according to specification. (Which doesn't exist.)
Not correct according to expectation. (The business logic of the exchange is broken.)
This becomes evident as the load on their server approaches capacity.
Everything goes to shit. Time and time again.
Their database stuff seems limited to concurrent reads, but single threaded writes.
It is a product of inspired design, not engineering.
It is very far from being remotely acceptable for a financial exchange.
But at least they have been making money since day one.
(Because they had essentially no development costs, starting out.)
There is a good story here, waiting to be written by some investigative journalist.
Perhaps we will have to wait for some catastrophe before that happens.

Quote
Bitfinex was copied from the leaked bitcoinica codebase, a Ruby-on-Rails app written by then 16 year old Ryan Zhou.
This alone is a reason not to use it, I still have domains stranded in that gobshites domain registrar (nameterrific) that was first to accept bitcoin
I hear he is now running coinjar in Australia, pitty the fools who use that now
Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 26/08/2015, 18:14:56 UTC
Bitfinex - Pretty sure we are dealing with amateurs here (self.Bitcoin)

The title says it all - consistantly over the past couple weeks we have experienced issues such as:
Ghost orders (placing margin shorts and longs when you never did)
Closing orders on their own
Not closing active positions
Unable to cancel orders
Not filling buy or sell orders (on the way up or down when under load)
Doubling margin when you don't have the required margin to cover it (WTF???)
What is the excuse? Don't hit the button more than once. Well I never did and it appears they put in a fix that notifies you when you hit it multiple times. Who cares. That should of been FIXED. Regardless - this exchange is considered mature and "world's largest". Then why the hell would they send service outage notices ONLY on twitter?
They don't have a problem sending you emails when you login or when you are getting margin called but they cannot send you an email when service has been interrupted or resumed? This is a complete joke. Everybody doesn't have twitter and further more - where is the incident management process in place? THERE IS NONE!
TLDR; we are dealing with amateurs. They clearly lack the Technology talent in regards to programmers and infrastructure staff to make things scalable. Sure they made some behind the scenes security posture stuff. GREAT! That is to be expected.
I will be moving my coins and going to another exchange. I suggest you do as well before things get real bad.
Post
Topic
Board Exchanges
Re: Bitfinex is getting more and more suspious
by
HorseRider
on 24/08/2015, 13:12:30 UTC
I bet your "Chinese arbitrage trading team" must be moving large amount of fiat, particularly USD across different banking systems?
You cannot stop the "evil US government" from studying you when you are moving large amount of their currency around the world.
I never have any issues withdrawing USD or BTC from Bitfinex

No, he was withdrawing the Bitcoin.
Post
Topic
Board Exchanges
Topic OP
Bitfinex is getting more and more suspious
by
HorseRider
on 24/08/2015, 10:46:22 UTC
I have been in the Bitcoin community since 2011 and now I smell something that is not right about Bitfinex recently. I believe it is the right time to start this post, to let the community to have a full records of the ongoing history. I also want to start this post to let the whole community watch out for this risk. People are still using Bitfinex, and the trading volume of Bitfinex is still among the largest. However, I have already find the clue of fraud, and the evidence of amateur.

This unregulated exchange is a huge risk for the Bitcoin economy. We need to let more people to know about the risk associated with this exchange, and we should let other traders know.

I am living in China and getting communicated a lot with the bitcoin community there. On 14th Aug, the COO of btc123.com, Chandler Guo, has removed bitfinex from their list of quotations.

btc123.com  remove bitfinex 4days ago!

Chandler shared a very important piece of information in a Wechat group, indicate that a China arbitrage trading team have find issues when withdrawing bitcoin from the Bitfinex exchange. Soon, I myself get confirmed from the leader of the team, Mr. Zhao, confirmed it. He said that he had to "rummaged around" the whole Bitfinex contact list and trying every way to have a respond, and then got the Bitcoin withdraw done. The bitfinex give him an excuse of something with the evil U.S. government seizing their fund. This has never happened before. Mr Zhao showed us the email:



Evil U.S. government are seizing our fund. The withdraw is slow. Signs of market manipulation. Doesn't it looks pretty familiar? When we find signs of similar problems with mtgox, mtgox is not shutting down immediately. The whole situation of mtgox evolved in about 10 months time.

Now it is the time to be very cautious for us to look into what is happening with Bitfinex. And for those who are not trading there, I believe you will have a good time to look at the show in the next months.

Bitfinex is freezing (again)
https://www.reddit.com/r/BitcoinMarkets/comments/3i62jz/bitfinex_is_freezing/

Bitfinex errors or market manipulation?
https://www.reddit.com/r/BitcoinMarkets/comments/3hpa5e/bitfinex_errors_or_market_manipulation/

Role of market makers in Bitfinex flash crash
https://www.reddit.com/r/BitcoinMarkets/comments/3hsges/role_of_market_makers_in_bitfinex_flash_crash/

Critical issues with Bitfinex trading engine
https://www.reddit.com/r/BitcoinMarkets/comments/3hnk8g/critical_issues_with_bitfinex_trading_engine/

Bitfinex CEO recording after 18/08/2015 flash crash

It's August you know. (ah that explains it)
open positions at 170 not filled?
I don't know about that.
Shit like this happens every 2 months
We're still trying to make it work.
even if you try via API?
Uh Uh. No. Look I understand guys. No.1 rule of trading. You press the bottom once it doesn't you don't press it again. OKAY?"
I believe it's a bug we fixed a long time ago. Maybe."

Post
Topic
Board Services
Re: 8KW Free power. Hosting service.
by
HorseRider
on 24/08/2015, 10:40:09 UTC
If your power is free, the best strategy for you is to buy cheap second handed miners to deploy yourself, but not hosting.
Post
Topic
Board Hardware
Re: BITMAIN launches 4th generation Bitcoin mining ASIC: BM1385
by
HorseRider
on 21/08/2015, 05:01:22 UTC
Did you buy your used A2 for the same or more than the guy who sold it to you bought it new? The point is not that selling hardware secondhand is in general a bad thing - by no means am I saying that.
The point is selling hardware secondhand for more than it is likely actually worth in order to recoup your investment is a bad thing - which is to say, "making about 1/2 or so back on your money and you sell them used for just about the price you paid for them new" (if not more).

Unless something atypical like flat diff is happening (which can't be counted on enough to "rinse and repeat") and the viability of the machine is actually retained during that time, selling it for near new price after several months means ripping someone off. You get your "ROI" by effectively stealing it from someone else. That's exactly what's happening with Bitmain selling used S5 for the same or more than they sold them new several months ago. If the diff had gone up more than about 10% in the last six months (like the 50-100% that would have been expected had the trends of the previous two years kept steady), nobody in their right mind would be buying S5 for the same money they paid at Christmas.

I feel the argument should be well-qualified enough to require no further defense, and as it's pretty off-topic at this point, I'll say nothing further on the subject. How 'bout them BM1385 chips, eh?

That's an oversimplified argument. The price is mostly based on the EXPECTATION of revenue, which could be influenced by a lot of factors, such as buyer's power costs vs seller's power costs etc. If the buyer can extract more use out of that hardware than alienesb - more power to him/her, pun intended.

Them chips are great with salsa.

Seriously though, I'd be more interested in the specs of an actual S7. This pre-announcement sounds like an attempt to preempt something and is quite useless for an end user like myself.

Yes, the power cost can be a great influence. Sometimes a zero worth of junk miner for you, is something that can generate very good cash flow , and is money printing machines. So selling the used miners at the right timing and to the right buyer is a kind of art.
Post
Topic
Board Service Discussion
Re: Hashnest 's newest PACMiC Cloud Mining Contract
by
HorseRider
on 13/08/2015, 04:47:39 UTC

Should be around an 8.5% APR, will have to double check my spreadsheets though to make sure that is about right.



Hashnest website says annualized ROI is 25.2288%, so either they are guilty of false advertising or your calcs are way off.

Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing

I am not getting to the 25% APR, perhaps I have an error?  Can anyone correct my calcs for the V2 and V3?

So your 7% is based on the 107 days your contract ran.  If it had ran for a full year, hence an "Annual Percentage Rate" it would be around 25%.

No, the 7% is the annualized rate for the V2, on the next tab for V3 the annualized is 12.73%.

I think the 25% comes from if the same amount of profit was paid as the first block of every contract, for every block.  That gets me to around 25% I believe, but that is not really a fair way to evaluate the asset.

As always, you've out-mathed me!  ;-)  Thanks for the analysis.

No no, please scrutinize.  I think my math is correct, but it just seems so far off from what Bitmain says that I am skeptical.  If I am right, then they are advertising way over what that asset should be showing as a APR.

I think they take the "auto-Rebuy" feature. If we can re-invest the proceeds, it may reach much higher APR than 12.73%, but I have not done the model yet.
Post
Topic
Board Hardware
Re: AntMiner S4+ available for global sales on April 20th, shipping within one week
by
HorseRider
on 22/04/2015, 06:04:21 UTC
This is a no brainer... This is what the s4 should have been...

To release this now with old chips, Shame on u bitmain.. Seems like u have excess stock in your warehouse of maybe C1's and ur trying to get rid of the chips in bulk..

To high a price with S5's in circulation, To high Wattage, To much noise.

I was looking forward to an S4+ using the newer S5 chip at least at 1500w at least that would have pushed it over the 3th mark..

Bad rushed decisions... Come on bitmain, U were the best at this & now your slowly starting to run downhill at a very quick pace & u still havent fixed the voltage settings on the S4

Heres a tip for the S4 in the Freq table take out all the over clock settings & lock them down but leave the underclock settings..

Then in the voltage settings put a drop down box with the underclock voltage settings with suggested freq settings so that people cant blow these things up.. But can downclock them.

Then also put a box allowing the  --bitmain-homemode or normal mode so that can be run a little quieter.

END OF LINE

Sometimes for the miner, the best strategy is to run the miners that already in hands and not to buy any new miners. Only buy the miners that is best for you. For a home miner the electricity cost is high and noise is a pain, so we should buy the high efficiency mining rigs. But for large scale miners, the cost of electricity maybe low and noise level is not a concern, they may have better tolerence with the old chips and not so sexy power efficiency. 
Post
Topic
Board Hardware
Re: [ANN] Sfards: SF3301 Specifications Revealed [Updated 14/4/15]
by
HorseRider
on 15/04/2015, 09:16:31 UTC
The ASIC’s lowest working voltage is 0.45V, with lowest BTC efficiency at 0.19J/GH,

It is very interesting that the FDSOI process is able to let the chip running at this super voltage, which is good for promoting the efficiency. Not every process will allow the chip to run at this voltage. What is the hashrate for the chip when it is running at 0.45V?

After strenuous testing of the SF3301, we reached hashrates of 152GH/s for SHA-256

What is voltage when the chip is running at 152GH/s?
Post
Topic
Board Service Discussion
Re: HASHNEST Discussion and Support Thread
by
HorseRider
on 05/03/2015, 14:40:56 UTC
Sounds like it is supposed to be a stable contract but what I think what people are missing is : " When the principal is
paid back, the mining rigs will belong to BITMAIN." So you're not buying shares like in a real miner like the others, there is no getting a rig is this all goes south.

Hi kingcolex,

There are no electricity fee and maintenance fee on users. Profit increases per second, hashing power is backed by Antminers.

It is a good to do the long-term investment, annualized ROI is more than 20%.

But if you really like to own a physical antminer, welcome to contact us too  Grin
How is bitmain making their money over regular cloud mining? Once this is answered it should calm worries of a ponzi.

At the end day of the PACMiC, Bitmain will take away the miners and mined till the end. Bitmain only share the mining profit with the PACMiC buyers in the beginning months. After the buyer get their investment paid back, Bitmain owns nothing against the buyers. I think that is how they earn the money.
Post
Topic
Board Securities
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
by
HorseRider
on 04/03/2015, 14:29:55 UTC
I'm sorry to tell u that FC hasn't been found yet! The one who claimed that FC has been found and will make announcemnet
is the main suspect of kidnapping FC! He's the owner of the mining factory and maybe that's him who took over the miners!
He also has a very bad reputation! In fact, many friends of FC in the industry had warned him not to deploy in the guy's
factory!

And the factory is not located at Mongolia but HuaiAn City, JiangSu Province.

Do you have any proof of that? I think maybe rockxie should chime in on this. I simply can't believe how things are progressing at the moment. It seems like a bad spy-flick.

BtcLtcNmc's claim is the truth.
Post
Topic
Board Pools
Re: BITMAIN announces Antpool: Pushing forward Decentralization
by
HorseRider
on 16/02/2015, 16:39:56 UTC
The coins antpool sent me were double spent. https://blockchain.info/tx/f014ce2630f35786bd6af7c87366f565a48ba9f7c4a8a7353e17ef571c652530


My btc address 1GUm7vcZN4i468Qsbd6b7jZHWouyP7TR8A

It must contain some double spent tx, but when it is recorded in the main chain, you don't have to worry about it.
Post
Topic
Board Service Discussion
Re: HASHNEST Discussion and Support Thread
by
HorseRider
on 14/01/2015, 00:22:02 UTC


lol i really dont know if that is how it goes does that mean, i can buy s4 units have them there at hashnest and then sell part of ghs to people on market is this correct?

Yes.
Post
Topic
Board Hardware
Re: Longest running Antminer
by
HorseRider
on 13/01/2015, 13:07:01 UTC
Nice to see the picture. Good luck in your future bitcoin life!
Post
Topic
Board Service Discussion
Re: HASHNEST Discussion and Support Thread
by
HorseRider
on 13/01/2015, 06:37:59 UTC
I'm glad I got out of Hashnest about 6 weeks ago with a tidy profit. I saw the collapse of cloudmining coming but it arrived even sooner than I thought it would... PBMining, Cointerra, CEX and soon, Hashnest.

Cloud mining service has its end written in the contract. But the drawdown of the bitcoin exchange rate make it faster than expected. And the speculative market and the greedy of the cloud mining service providers stop the price of contract goes down. As the cloud mining contract buyers cannot get the contract at a low enough price, usually the investors who hold the contract in long term cannot get profitable.

Buy a cloud mining contract at reasonable price (very important) from reliable provider will still be a choice of Bitcoin investment.
Post
Topic
Board Service Discussion
Re: My bitcoin withdrawal from Bitstamp has been processed!
by
HorseRider
on 10/01/2015, 14:51:14 UTC
It is good news that Bitstamp recover the operation again, but they still need to do audit again to show they have 100% reserve for the users' fund. It is very likely a mtgox 2.0 if they cannot provide enough evidence they have equity to cover the loss.
Post
Topic
Board 中文 (Chinese)
Re: 半年前我曾发帖说比特币半年都不会涨,现在我要说:惊天涨幅即将开
by
HorseRider
on 07/01/2015, 08:05:07 UTC
    2014年8月初我曾经发帖说,比特币半年内都不会涨了,而且打压比特币最狠的将会是美国(那个帖子大家可以再找一下),然后发生了什么大家应该到看到了。那么现在,半年的时间快到了,接下来还会发生什么呢?相信很多人都想问这个问题,现在我可以非常明确地告诉大家:比特币即将迎来惊天骇浪一般的涨幅!!

     可能有人会接着问,会涨到多高?1万RMB或者2万RMB(约3000美元)?具体能涨到多少,我也说不好,不过我在这里可以明确告诉大家的是:如果仅仅只是涨到2万RMB,那就根本算不上什么惊天骇浪般的涨幅了。如果说是第一波涨到2万,然后做一个调整再涨,对这个说法,或许勉强可以成立,但我个人认为在2万这么低的价位实在不需要做什么调整,5万左右或许有可能吧。

      一个比较遗憾的问题是,行情爆发具体是哪一天,暂时无法精准确定。这一天按照军事术语不妨称之为D日,我暂时只能确定D日应该是在2月10日至3月10日之间的某一天。

     肯定会有很多人对此不屑一顾、嗤之以鼻,甚至各种挖苦嘲弄,这很正常,当初我发那个贴,说比特币半年都不会再涨时,也是有一大堆人出来嘲笑我,这一次让他们继续笑好了。

    值得一提的是,前两天有帖子说花街似乎也要大规模进场抄底,比特币价格在1月底之前会大pump,而且言之凿凿,我看了一下,感觉他说的原因确实不怎么靠谱,但从我目前掌握的一些情况看,有理由相信这事情确实有可能是真的,花街应该也是嗅到了某些极不寻常的味道...


呵呵,是意淫贴还是强帖,引用存档,过年见分晓。