Image credit http://cryptomining-blog.com/6520-interesting-proof-of-stake-crypto-coins-for-investment/
I edited image for story, added BFX Coin, ETC Coin, and ETH Coin in Distance.
The BFX Coin is Here!
Today Bitfinex.com re-opened to the public, and we got out first glimpse at our new new Bitfinex coins. My coins were sitting there waiting for me, even though there was nothing I could do with them right now. The platform was valuing them at around $1 USD however they are not trading yet. It looks like Bitfinex kept it simple and everyone received 1 BFX coin for Every one dollar in crypto they had at the time of the hack. Bitfinex posted the prices on their website so you can verify your funds for yourself.
What Is The Bitfinex Coin?
The Bitfinex Coin is a new digital currency asset created by Bitfinex to compensate all of their customers as part of the socialization of coins for the hack. BFX Coins will represent shares in iBitfinex. Since we received 1 coin per dollar hacked there should only be roughly 70 Million BFX coins in circulation. This is just my best estimate, but it should be around there, if anyone knows the actual number please post in comments.
When Can We Trade BFX Coins, I think I can See A Light At The End OF The Tunnel?
It is still unknown how and when the coins will be tradable, but I presume they will be once Bitfinex allows deposits and withdrawals and gets the site running 100% again. I did not see the infrastructure on the site yet for trading them, but Bitfinex has been working fast and I believe this should not be a non issue. When they do start trading we will get a better idea of what they are worth. I have a feeling they will be very volatile, and may even take a little of the lime light off of ETC on the platform for a while while users get adjusted. All in all I am somewhat impressed at how smoothly Bitfinex has handled this enormous hack of a situation, and in the end it looks like there is a good chance I may even turn a profit in the long run if Bitfinex beefs up security and pulls through for their community!
Shows creative thinking from Bitfinex. Maybe it'll be a template for future exchange hacks.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit