Bitcoin, Crypto currency, Blockchain

Bitfinex is a Bitcoin stock market falls out of favor

Bitfinex is currently in the suspicion, directly on a bankrupt moving. Users complain about a lack of money deposits in crypto-and Fiat. The Bitcoin exchange denies these allegations. But they can not dispel the doubts. In the midst of all of this, former child star Brock Pierce.

The Bitcoin exchange Bitfinex must expose currently the critical cross-fire of their users. The main allegation is that the exchange has sufficient cash reserves to pay off with customers. In addition, many users complain online, what is the response of censorship. Some users fear a new Mt.Gox, the most anxious, however, your Bitcoin is stored. The old suspicions are not brought back, that the alleged Stable Coin Tether is stable. In the midst of all these uncertainties, a former Disney Star is out of the question, Noble Bank, Brock Pierce, Tether and Bitfinex trusted.

Brock Pierce: Bitcoin pioneer with the shadow pages

Brock Pierce ranks among the richest (known) figures in the Bitcoin-scene – Forbes estimates his crypto-assets to 700 million to a billion dollars. He has invested in companies such as Mastercoin, Coinbase and Ethereum, and is often a welcome guest on Blockchain events. But the path that led him there, is in many respects questionable.

Since the most unpleasant thing with THE, the Digital Entertainment Network. Brock Pierce founded this precursor to the modern Streaming networks together with Marc Collins-Rector and Chad Shackley, and was planning a 75 million US Dollar IPO. However, this should not come: The Trio had to answer to the charge of child abuse. In the result, the operators joined the network and announced its bankruptcy. The dot-com bubble, the produced Content and the leadership disproportionately highly paid is one of those companies. The former Disney child star of “The Mighty Ducks” got even, but never a penalty and distanced himself from his co-producer. He paid only US $ 21,000 to one of the lawsuits should be dismissed.

Of Streaming about Bitcoin to Tether

His questionable past was brought in the year of 2014, many members of the Bitcoin Foundation, and from the same to withdraw. As Brock Pierce came here in the Board, decided ten members to leave the Bitcoin Foundation. Reason: You wanted to do “with such people”. Not to dig up which prevented Pierce from deep in the crypto-world.

You dig now, not even a little – in the Depths of the network, you come across an article in the Wall Street journal. The magazine that Brock Pierce announced in the year 2014 the Realcoin: the first crypto-currency should be backed by the US Dollar reported. This model of the editor according to Mastercoin, a Bitcoin Protocol.

Bitfinex and Brock Pierce – an unholy Alliance

In September of the same year, Bitfinex-operator Philip Grzac Potter and Giancarlo Devasini on the British Islands, established the company, Tether Holdings Limited. Two months later, Brock Pierce’ Realcoin called then in the Tether and calls on Bitfinex as a Partner.

However, this is not the only connection between Bitfinex and Pierce. As you can see from a Twitter Post, founded by Pierce in addition, the company Noble Markets, today better known as Noble Bank:

This Bank now has demonstrable problems, and to provide for liquidity. Accordingly, the Puerto Rico-based Bank may not provide enough replenishment to guarantee the Tethers for stability. Because it is one of those banks, the guarantee of this (and by the way, detours to the publication of which was involved in the controversial Reports of the Tether more credibility should give).

What does this mean? Brock Pierce founded Tether, and the Noble Bank. Then Bitfinex buys Tether and is editor of the controversial Stable Coin. The Noble Bank is (partly) responsible for ensuring that there are enough supplies for Tether. While the Noble Bank now can not worry in the year 2018 for a variety of verprellten Bitfinex users. All complain unanimously that they can’t make any withdrawals, your Bitcoin will disappear and that Bitfinex does not respond to customer inquiries.

Bitfinex trying to pull themselves out of the affair

All of this can be found in a Medium Post of the User proof ofresearch. This is not clear that there are a large number of users complain about missing deposits. Rather, he reveals that the Bitfinex moderator team will delete the posts on Reddit generously.

But what of the elephants, the Blockchain and the Internet have in common? You will not forget. As proof ofresearch explained namely, one can recover the deleted Posts in the Bitfinex-Reddit with a simple Trick. For this purpose, one must only in the Link (https://www.reddit.com/r/bitfinex/) the “r” of reddit with a c replace. To do this, it becomes clear that the Bitfinex moderator team censored generously.

Here are the Before-and-After Overview:

The normal view: common Threads, which is hardly negative statements about Bitfinex includedReddit uncensored: Suddenly diving critical comments on, the Admins deleted had“Bitfinex is a scam” – criticism will be deleted

What is striking about the deleted Posts is that they relate mainly to the fact that Bitfinex no withdrawals are possible (and that the exchange denies it). The action of Bitfinex wakes up here, in any case, some doubts: instead of answering the requests, they will be deleted.

The Bitcoin exchange struggles

At the request of BTC-ECHO the Support Team pointed to a Blog entry on the company to distance itself from the allegations. It is said by the Bitcoin stock exchange:

“1. Bitfinex is still solvent. And a constant flow of media articles won’t change it. As one of the few Exchanges that have been working since 2013 with a small Team and low fees, we can not understand the unfounded arguments of whether our liquidity. The below Wallets show a small part of our crypto-currencies and involve our Fiat deposits, not even with:

BTC cold wallet 1

Ethereum cold wallet 1

EOS cold wallet 1

Like us, a rational party can be accused of insolvency, when exactly the opposite is the case, is interesting. And maybe part of a targeted campaign, based only on fiction.“

To also expresses the allegations of the lack of liquidity in Bitfinex:

“2. Both Fiat as well as crypto-currency withdrawals work. Verified Bitfinex users can withdraw without any problems, the Euro, Japanese Yen, pounds sterling and US dollars. Complications are only with Fiat transactions, as with most crypto-organizations. However, we will do everything we can to shorten waiting times.“

Finally, the exchange also distances itself from the Noble Bank:

“3. Stories and allegations relating to an entity by the name of Noble Bank, have no influence on our operations, the chances of Survival or solvency.

As always, we are glad to have your Support, while we provide our Service for our customers and their needs in the Digital Token Economy.“

Bitfinex is still trustworthy?

Now, it may well be that Bitfinex, as the Post indicated, a certain supply of Bitcoin, Ethereum, and EOS may have. As the relationship between Brock Pierce, Tether, and the Noble Bank show, however, the allegations most likely, not fiction.

Also, the second and third defense point is not enough, sometimes, to doubt, to Bitfinex. Ultimately, the deleted Posts, which relate in part to withdrawals in the amount of about US $ 100,000 to speak a different language. Also, the Connections to the Noble Bank will not be able to have Bitfinex so quickly.

One thing is certain: The practice, the sets Bitfinex, and generous deletes everything it could throw a bad light on the company, is by no means exemplary and it is emphasized in the last paragraph of your Blog Posts again:

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