Quote from: adamstgBit on August 05, 2016, 01:57:21 AM

Quote from: adamstgBit on August 05, 2016, 01:45:06 AM

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05 Aug 2016 at 12:09 AM (UTC)

We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions. The numbers being quoted are erroneous as nothing has been decided as of yet and we are still in the process of settling positions and balances. More details are to follow tomorrow along with a FAQ answering most of the questions we have been asked over the past couple days.

erroneous loss or erroneous amount of bitcoin available to "socialize" the loss.

if bitfinex held ~230K BTC everyone gets a 50% hair cut

We NEED a rough estimate of bitfenix's total BTC holdings
this info is simply not available
here we go some conjecture....

https://www.reddit.com/r/Bitcoin/comments/4md665/coinbase_may_have_lied_about_the_number_of/

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Coinbase is now storing 'about 10% of all bitcoin in circulation'.

you'd think bitfinex had a similar amount of coins? right?
so like ~1.5million coins
everyone gets a ~10% hair cut?
wouldn't that be lovely

An ibtimes story quotes Charles Hayter estimating that 20% of all funds were lost, provided it had double the coins on deposit compared to last year.

The story says the hack in May last year lost it 1,459 BTC which represented 0.5% of all customer deposits.

If Bitfinex had the same number of coins deposited this year then the hack might have lost it 41% of all customer deposits.

http://www.ibtimes.co.uk/hong-kong-bitcoin-exchange-bitfinex-reports-65m-btc-stolen-by-hackers-1573968

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Charles Hayter, CEO and founder of CrytoCompare told IBTimes UK: "It is not clear on what the capital buffers are at Bitfinex, although if we take last year's figures of 300,000 bitcoin and apply a generous doubling, we can speculate that 20% of all funds have been lost.

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Bitfinex was hacked last year in May when 1,459 bitcoins were lost. Their hot wallet system for customer deposits was breached, which at the time represented 0.5% of all customer deposits. Bitfinex subsequently teamed up with BitGo to implement individual multi signature wallets for users.

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