Stop loss orders are executed following a "best offer available" rule.
If a big market order comes in and empties the ask side causing slippage there is not much we can do.
This is about as much as I can disclose about it, giving more details on how it works will incentivize manipulation.
Our orderbook has been gaining a lot of "thickness" in the last month, proving that our choice to create a "market maker market taker" model was the right one.
Nevertheless some customers like to move the market by placing big market orders and there is not much we can do about it, this happens in every trading market ( bonds, stocks, currencies, pork belly....) and books have been written on bear and bull traps.
I never ever met a trader that was successful in 100% of his trades, this is part of the game and we all have to accept it.
Some people do and try to learn from their mistakes, some others don't and throw mud at us, telling us we are cheaters.
Now, if somebody was coming to your shop, using your service and accusing you of rigging the market wouldn't you try to expose the ridiculousness of his accusations?
You see, I believe Bitfinex has been outstanding ( at least compared to its peers ) when it comes to customer service.
Raphael constantly reads this thread and implements every request made by customers that make sense, and numbers are showing that the market is acknowledging this.
We are now the first "non zero fees" trading platform in the BTC/USD pair and as stated several times I will try all I can to defend our reputation against false accusations.
If we get hit under the belt I might strike back, what's at stake here is much more important than my reputation to be a good PR guy ( which I'm not ) or politically correct ( same as above).
I believe you all, as customers, should cheer my defense because what's at stake here is ultimately your hard earned coins.
For all the above mentioned reasons I don't think I should apologize ( I would do it without problems, as I already did in the past in this very same thread).
I didn't reveal the identity of anybody or the correct balance of any account.
I just pushed away a hassler by exposing the shallowness of his size, fighting against a potential danger to our platform reputation.
You might disagree with me, but that's how I think.
Peace and love.
Thanks a lot for reading me and have a wonderful day
Giancarlo
Bitfinex Team