Topic: Bittrex trading news update (Read 381 times)

I don't really have any issues with trade size but tick size could be really annoying for some markets, it will effectively increase margins meaning that volume will likely slow as people cannot trade within the traditional margins and will have to trade much wider.

Sounds that you got a point, and maybe it is because of bitcoin was rising up right now. But I'm still not sure about it. However, there is something which I noticed that there is one problem to their new rules for this. Isn't the tick size could be a problem?

Indeed it becomes a huge struggle when the user base of an exchange swells and there isn't enough resources to back up the same. Bittrex's support team is already taking their own sweet time dealing with tickets and trades below 50,000 satoshis would just add up to the pile and make it even harder for them. The stale order removal is a move which would ease the burden on the servers so that too is just fine as active traders don't leave buy orders for 28 days.

Received emails from them and after reading other users' reactions on what's been happening on the service, I immediately thought that it's just a front for them before making their exit. Hundreds of accounts have been frozen and the verification process is useless; customer support is nil and withdrawals are restricted from those who only have basic verification. Tread carefully and read between the lines.

yes, i received that email too and I think these changes are taken for our own good. the market manipulation by pump and dump groups are increased these days and mostly the pump initiators benefit from those pumps and newbie traders lose their money in search of fast money. so these steps will help to mitigate pump and dumps perhaps.

I advise newbie plz be careful from Exchanges. this exchanger disable some clients account. 

Yeah exactly my thoughts.

No point in reducing precision or whatever. If you want to succeed as an exchange you better scale your business for the long term instead of doing this short term. What if cryptos blew up and there were 10x more customers trading all of a sudden? Will you just keep reducing precision or keep reducing minimum order sizes?

Also, why have orders expire within 28 days? That means people can't take advantage of unnatural swings in price anymore.

about minimum tick size is not good
same with hitbtc minimum tick size is big, diference 10point with etherdelta, case dent token
take profit is long time if tick size is big

Yeqh I got that email too. I guess their website must be struggling. It sounds like they're making changes to take strain off. Why not just make your website better rather than start trimming fat here and there? Or do both at the same time?

This email is to communicate policy changes for placing orders on Bittrex.  As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
 
Removing stale orders:  Effective today, Bittrex will be removing orders that are older than 28 days.  As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
 
Raising the minimum trade size:  Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi.  We will also require a minimum trade quantity on a per market basis.
 
Creating minimum tick sizes: Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market.  The target is to have minimum trade sizes that are near 0.1% of the current price.  The current minimum tick size is 1 Satoshi.  For example, Ethereum trades at 0.0577 Bitcoin.  Bids and asks can only be placed in 0.0001 increments.  So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
 
A general statement about market manipulation tactics:  Bittrex actively discourages any type of market manipulation, including pump groups.  Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.