Warning Signs About Another Giant Bitcoin Exchange

Re:Warning Signs About Another Giant Bitcoin Exchange by mitchellberry on Wednesday November 22, 2017 @03:56AM (#15755374)

Its a space where millions are raised on nothing more than a whitepaper, probably a bit idealistic to expect rational actors.

Bitfinex has been undergoing third party audit from Friedman for months now. No one cares though and still throw accusations around like confetti.

Anyone who knows this fact and doesnt trust Friedman as a multinational auditor/accountant should say as such, rather than repeating blatant falsehoods.

It quite easy to see what others have to gain from the negative coverage.

Exchanges ddos each other all the time, its a shady industry, 15mins downtime for poloniex can double the weekly income of small exchanges.

I'd hope hn readers see between the lines a bit more rather then jump on bandwagons.

https://www.bitfinex.com/posts/202

http://www.friedmanllp.com

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Re:Warning Signs About Another Giant Bitcoin Exchange by twayamznacct on Wednesday November 22, 2017 @02:21PM (#15759616)

> Bitfinex has been undergoing third party audit from Friedman for months now.

Is there proof of this? All I've seen (and I may be ignorant of the rest, so this is a legitimate request :) ) is that "note" from Friedman LLP that explicitly stated it was not an audit.

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Re:Warning Signs About Another Giant Bitcoin Exchange by mitchellberry on Friday November 24, 2017 @01:50AM (#15769828)

When stating easily verifiable information about the cryptocurrency industry the proof/sources request as some form of rebuttal seems to be a very common respone, always find it intruiging that many either don't want to search themselves or perhaps simply want to use it as a way to discredit a comment.

3rd result from googling "friedman bitfinex":

http://www.friedmanllp.com/insights/auditor-engagement

Now you said Friedman "explicitly stated it was not an audit", I searched and all i can find is blog posts and reddit threads. Any chance you could procure this explicit statement? Thanks.

The url I provided says the compete opposite and itself links to the original source I offered.

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Re:Warning Signs About Another Giant Bitcoin Exchange by nooron on Wednesday November 22, 2017 @02:12PM (#15759547)

Have we experienced high-profile auditors, accountants and other "independent third parties" in the financial industry lying, prevaricating, or even acting in bad faith in recent memory?

http://www.mcclatchydc.com/news/politics-government/article2...

http://www.chicagotribune.com/news/chi-0209010315sep01-story...

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Re:Warning Signs About Another Giant Bitcoin Exchange by mitchellberry on Friday November 24, 2017 @01:44AM (#15769811)

Undoubtedely, I'm not going into bat for the financial industry here, but essentially it comes down to the delegation of trust that is required with many transactions, financial or not

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