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Bitfinex's banking problems solved: Snitches get stitches

• londons_explore 8y ago
  If deposits go direct to withdrawers... How does bitfinex know the transaction is completed? How do they deal with one side claiming they never received the money, with the other side claiming they sent it? This is exactly the issue local bitcoins has, and they need an entire reputation system to combat it, and still fraud rates are pretty high.
  • davidgerard 8y ago
    That's why there's a bit of question as to this, 'cos it's a frankly nuts system when we're dealing with a minimum of $10k a transaction. (OTOH, this is Bitcoin, so "but that's stupid!" doesn't mean it isn't done that way.) But something like a deposit->withdrawal hookup might explain the multiple days' delay.