Crypto Hustle: 5 Reasons Why Bitfinex’s Compensation Plan Might Be The Best Option

Here is an interesting read on the proposed Bitfinex compensation strategy from Rocky over at Crypto Hustle.

I will have to say I think Rocky makes some very valid points and aligns closely with my own thoughts on how this should pan out. Like many others, I too have funds on Bitfinex and would like to entertain options where there is at least a chance I can me made whole, even if that means prolonging the payback period.

While there have been Mt. Gox type of failures, and of course Cryptsy where it appears the operator intentionally ran off with the funds, there have also been examples of smaller hacks where the exchange has been able to recover and fully compensate users. Poloniex is a great example of an exchange that was able recover and make users whole after an early hack.

As Rocky points out, solutions such as litigation or forcing Bitfinex into Bankruptcy will more than likely result in less than 100% recovery as well as having lasting ramifications in the Bitcoin space as a whole.

Read the article at Crypto Hustle: 5 Reasons Why Bitfinex’s Compensation Plan Might Be The Best Option

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