Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 178. (Read 723903 times)

That is hardly a FUD thread - it points out that there are a very large number of leveraged long positions on BFX - hardly controversial. Is a long squeeze suddenly impossible? Of course not. Blitz is right to point out the inherent risks here, and relies solely on facts.

You may not believe that these leveraged positions are going to be a problem, and you may be right, but it is just an opinion, the same that Blitz's thought that the leverage will unwind and cause a crash is an opinion. Neither are FUD.

Revealing information about a customers balance, even approximate balance, is never OK. Giancarlo, I think it would demonstrate a level of maturity not otherwise present in your posts responding to MatTheCat if you would apologize for making the comment about his 2.5BTC. You are capable of apologizing for things aren't you?

This would also give us some confidence that you will not deal fast and free with customer info in future, even in a moment of anger.

I would also like to know where we could find reliable ticker data for the period MTC refers to, as I don't believe that data from BTCWisdom that lumps everything at only 2 prices (600/608).

Finally and most importantly, I think we'd all like to understand better the logic used in the code to trigger and execute stop-loss orders. Slippage of $8 is by no means out of the ordinary in my book, but I would like to understand the conditions required to create such a poorly executing stop-loss, and the code logic that sits behind it.

For example, are stop triggers checked periodically, eg several times per second, or are the stop orders somehow folded into the bid/asks as existing but inactive orders and then activated after triggered?

Allow me to play out an example:
Let's say ticker price is at 600, I have a stop buy for 5BTC at 600.51, and there are 50BTC in asks between 600 and 600.51. Then a market order for 45BTC comes in (and takes price to 600.5), then 100ms later a market order for 6 BTC comes in (taking price to 600.51), but only 10ms later a market order for 100BTC comes in (which would take price to say 605). Does my stop buy get the chance to trigger in between the 6BTC and 100BTC orders? Or is it going to take time to trigger and end up behind the 100BTC order? What determines this? (Presumably the code, but that's what I want to know more about the logic of)

@urwhatuknow: I understand how you feel about the forums, it can be quite aggravating at times. I'd still prefer not saying any users balance. It doesn't disclose his identity, but links a certain balance to his account at Bitcointalk.
If you're dealing with customers you will always encounter people like him. Especially with such an emotional topic like money. It's worse when they're uneducated and/or unfriendly.

I've had a good experience with BFX so far.

So my longish "rant" wasn't figthing windmills after all.

Very bullish decision. Can we have our CCMF now?

Good point.
I agree with you 100%.
But one thing is to disclose customer data, another is to show evidence of the fact that some people on this forum play the big guys and they are actually just balloons inflated with hot air.
If you were playing with a couple of satoshis on your account and at the same time running around blaming others of stealing because you lost one of them (due to your scarce comprehension of how trading works) don't you think that the entity of your "claimed damage" should be exposed by the party that has been accused?
Privacy is important and nobody disclosed the identity of anybody.
To say "somebody" ( not disclosing his identity ) is making false accusations because he lost a couple of bucks has nothing to do with privacy.
It's only disqualifying the accusation by taking it into the right perspective.

Have a good day

Giancarlo
Bitfinex Team

 
 

You are absolutely right, I definitely suck in being nice and politically correct with people that throw mud at Bitfinex with no reason.
We recently decided to hire a PR guy that will also become our speaker, a well respected guy that will surely do a better job than me ( that's easy! ) in being loved by you all.
Stay tuned for more news.

Giancarlo
Bitfinex Team

I think he has the right to defend himself of course, in a classy way.

One point I'd like to stress here directed @BFX is: Never ever disclose any customer data, nothing. Privacy is the most important value besides digital and financial safety.

If a mad dog bite you, you bite it back like a mad dog did??

If that is not a mad dog and you consider it a mad dog and bite it , then you are truly a mad dog living only in your own paranoid.

Don't give yourself any excuse talking rude and irrationality like that!

Remember you represent the whole Bitfinex Team, if you really like mad dog behaviour you better change into another unknown Id that suite your taste best.

Last but not least we don't need any PR mad dog here and no reason deserve such treatment on Official Bitfinex forum.

AAAND it is already fixed!

Thanks a lot, unclescrooge/Raphy!

it's the latter

have a good day

Giancarlo
Bitfinex Team

MatTheTwat is playing the big guy and throwing mud at us all the time, his mantra is calling us cheaters and accusing us to play tricks on him in order to steal his money.
I didn't reveal his balance, I just mentioned the fact that he had about 2.5 BTC, which by the way was not the exact amount he had (which was afterwards disclosed by himself).
This exposed the real enity of his accusation, he's nothing more than a whining kid blaming his poor trading skills on somebody else.
I think he deserved such treatment and the result was that he pulled out his belongings and luckily took his business elsewhere.  

Last but not least our team is formed by 2 french, 2 italians, 1 dutch and 1 american.

Do you have any racist comment also on other nationalities?

Giancarlo
Bitfinex Team

When you go on a long position leveraged, how do you save the most money from swap rate?  Does the system itself save you the most money (by constantly finding the lowest rate) or do you you yourself save more money by continually finding the lowest rate yourself ?

Their PR is pretty bad on this forum. He outed someones balance on another thread here https://bitcointalksearch.org/topic/m.7450158.

Anything to say about that urwhatuknow? unclescrooge? I know you are responding to people making accusations but that is a little too much shit talking for such a large exchange.

Remember what happened to the last exchange run by a french guy?  Just kidding I love bitfinex and I hope it goes on strong. Please don't tell people how poor I am!

yeah tbh i agree.

what do you want another mark karpeles saying all the "right" things?

ive always had a good service from bitfinex

Sure, humanly totally understandable. But not if you're trying to grow a "professional business us stoopids don't understand nothing about" like Giancarlo once put it... Sorry, it's just no way to adress your customers if you want to be taken seriously.

Oh whatever, the hell with manners and respect and all that shit, probably just getting too old for this... Anyways, if that's how our future generation wants to tread each other then goodnight us all.

You guys have to put it in context. Giancarlo was responding to people claiming BFX manipulates the market. Of course it is to be expected that he may get a bit agitated.

Well, Gancarlo might be somewhat controversial, right?
BitFinex' service however, is awesome!
With great joy I found a counter which adds up all funds I have marked in a margin position!

You guys rock! That's you included, Giancarlo! :-)

Ente

Let him speak any way he wants. Just no bullshit, please. I'm tired with MtGox.

+1, Bfx NEEDS a new PR person, I am scared to see an exchange run by a person who posts so unprofessionally !

Seriously Giancarlo, please try to learn how to control your temper or more important, learn how to deal with paying and/or potential future customers. Also, maybe BFX as a whole should reconsider the kind of PR-"strategy" Giancarlo is ru(i/n)ning right now.

Yes Giancarlo, customers, also and especially the smaller fish, are and will always be the biggest a**holes... that's business, deal with it but stop ruining this fine company and it's reputation by your (granted, almost) daily outbursts! Sure, this is an "anonymous" forum, you're free to answer whatever and however you want.

But unlike private channels like emails this is also a *very* public channel, each one of your current and future customers will think that Giancarlo is *the way* this company treats its customers.

Tell me, why would I wanna join your platform after looking up some background-infos about it before joining and finding your rants page after page after page around here? Honestly, had I not already joined way back in March 2013 and would I not know that your service is pretty damn fine I would never join again. Yes, just because of the, sorry, disgusting way you represent BFX!

And no, this is no personal flaming against you, I know damn well that customers can be a pain in the bottom, especially when they're behind a screen far away but gee, there are better ways to react to that than... well, the current you, the one that's almost as unbearable as the current market.
 
Do you want new customers or not? I certainly want your company (and in turn my portfolio ) to grow and I guess so does everybody else around here so stop ruining it for all of us and lull those new customers with free beer and confetti and spaghetti instead of ranting them out the door.

Pretty please, mkay. xoxo ;-)