Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 248. (Read 723903 times)
February 13, 2014, 08:47:19 PM
If you are lending BTC, are the interest payments you receive denominated in BTC or USD, and if USD at what rate?
February 13, 2014, 08:32:40 PM
Please Bitfinex, don´t fuck up my shorts tonight, thanks. 
February 13, 2014, 07:36:02 PM
The flash rate for BTC is closing in on the flash rate for USD. I don't think I've ever seen that here.
February 13, 2014, 06:08:30 PM
Interesting no one is borrowing when market is crashing.
Actually, you're WRONG.
People are borrowing, just look at the BTC flash return rate pool: It's empty. Now look at the market statistics page. We've borrowed all the BTC, every single one.
If you only look at USD then yes, you are right, nobody is borrowing USD to go long.
This is not very strange given that IT'S THE BEARMARKET (did nobody give you the memo?)
Whoa didn't see that. And historically the USD borrowing would go up with the crash as people expect a rebound. But yeah i was referring to USD, maybe take a deep breath before you post next time?
February 13, 2014, 05:38:36 PM
They did publish a very well written letter. On the other hand, people are saying that it might have been an inside job (as Sukrim implies).
February 13, 2014, 05:18:07 PM
SilkRoad #2 just announced they got hacked by the transaction malleability bug.
That does not even remotely make sense... 
February 13, 2014, 05:10:15 PM
SilkRoad #2 just announced they got hacked by the transaction malleability bug.
February 13, 2014, 03:29:52 PM
Interesting no one is borrowing when market is crashing.
why is this interesting? intuitively that seems pretty obvious to me.
short term outlook for BTC is pretty bearish, therefore why build up long positions using
margin trading?
if you look at historical borrowing rates at bitfinex they where very high when
everyone was bullish on BTC (e.g. the big rally at the end of 2013)
February 13, 2014, 02:19:53 PM
Everybody ready to get trades halted tonight?
This chump learned his lesson! No more stops or trailing stop, all predatory limit order for me
This chump learned his lesson! No more stops or trailing stop, all predatory limit order for me
February 13, 2014, 01:45:34 PM
Interesting no one is borrowing when market is crashing.
February 13, 2014, 11:33:54 AM
Can I start trading without sending any documents? Just send my BTC to my account at bitfinex?
Yes
February 13, 2014, 11:31:42 AM
Can I start trading without sending any documents? Just send my BTC to my account at bitfinex?
February 13, 2014, 07:18:05 AM
Am I the only short-seller still waiting for fill via E-MAIL from the 'magic platform' that is Bitfinex?
Amidst the Monday sell-off I put in a Market Order Buy-to-Close a short I had placed over the weekend in anticipation of Gox' well telegraphed press release. Anyone with half a clue knows nothing good comes out of Gox. (Yes Mr. CFO, I do have a crystal ball, and from time to time it even works.)
So here's the magic question: How many DAYS does it take to confirm a fill with a Market Order on this platform?
Amidst the Monday sell-off I put in a Market Order Buy-to-Close a short I had placed over the weekend in anticipation of Gox' well telegraphed press release. Anyone with half a clue knows nothing good comes out of Gox. (Yes Mr. CFO, I do have a crystal ball, and from time to time it even works.)
So here's the magic question: How many DAYS does it take to confirm a fill with a Market Order on this platform?
February 13, 2014, 07:02:18 AM
hy,
is it supported to place a trailing stop @ -x ("minus x")? i.e. as long as a position is @ -p/l that could be useful
is it supported to place a trailing stop @ -x ("minus x")? i.e. as long as a position is @ -p/l that could be useful
February 12, 2014, 09:36:29 PM
Hey everyone,
So yes, halting the trading engine saved 15+ millions of dollars. Yes, we will be fair to traders that got caught in a short during these time (again, on support email, not in the thread). If you think we should have let liquidity providers lose everything and close the margin trading for good, I understand. Maybe we halted the trading engine a bit too long. But we do not regret this decision and think this was the fairest decision to take ...
Thank you all for your comprehension and have a good day
Raphael
So yes, halting the trading engine saved 15+ millions of dollars. Yes, we will be fair to traders that got caught in a short during these time (again, on support email, not in the thread). If you think we should have let liquidity providers lose everything and close the margin trading for good, I understand. Maybe we halted the trading engine a bit too long. But we do not regret this decision and think this was the fairest decision to take ...
Thank you all for your comprehension and have a good day
Raphael
Hello,
I sent a support ticket without reply about money lost. Hopefully I will get a reply sometimes. Of course, it may sound an idiot amount for you guys, but for a trader who doesn't make much and is hard working, it's pretty sad to lose money that should have been prevented if a system was regulated and following trading best practices.
Waiting for a reply and will report on how it went.
Thanks.
I also tried to cover a short at around $550 ... even a market order wouldn't execute. I guess at Bitfinex one has to wait 3-4 days to get a fill via e-mail. Not a trader's platform, plain enough ...
February 12, 2014, 08:59:20 PM
You need to restate your problem.
I'm guessing you did not have a long position of 1 BTC with a buy-in at $19.80 USD for that position. If you did, why would it be a problem if BTC was worth $100 (as you would be sitting on a $80.20 profit).
...
As for the larger issue - time will tell whether everyone gets reimbursed.
I'm guessing you did not have a long position of 1 BTC with a buy-in at $19.80 USD for that position. If you did, why would it be a problem if BTC was worth $100 (as you would be sitting on a $80.20 profit).
...
As for the larger issue - time will tell whether everyone gets reimbursed.
February 12, 2014, 06:05:20 PM
I had a long position at 19.80 worth about 1BTC. When the market went $100, I was margin called. There seems to be some conflicting info on reddit and here regarding those traders with a long position that were reimbursed.
So answer this: Am I SOL? Or will Bitfinex eventually get to my account and roll back the mess?
Thanks everyone in advance!
So answer this: Am I SOL? Or will Bitfinex eventually get to my account and roll back the mess?
Thanks everyone in advance!
February 12, 2014, 06:02:54 PM
Hey everyone,
I guess it'll be my last message here for today, sorry I can't answer to every individuals requests. Requests made to our email support will be treated in the next few days, including those who lost money because of our trading halt.
So my point will be these: the liquidations that happened and took the price to 100 were less than 25% of the total leveraged long positions. A lot of traders also have collaterals in BTC. Which means that nor Bitfinex nor Bitstamp had enough depth to absorb the cascading liquidations that would have occured and drag the price to near 0 as ALL long would have eventually be liquidated.
So yes, halting the trading engine saved 15+ millions of dollars. Yes, we will be fair to traders that got caught in a short during these time (again, on support email, not in the thread). If you think we should have let liquidity providers lose everything and close the margin trading for good, I understand. Maybe we halted the trading engine a bit too long. But we do not regret this decision and think this was the fairest decision to take.
One last thing: we are not impacted by the problem of Bitcoin withdrawals MtGox have. When a withdrawal seems to have failed, we use the bitcoin address to do a manual double check. So far this is not an issue.
Thank you all for your comprehension and have a good day
Raphael
I guess it'll be my last message here for today, sorry I can't answer to every individuals requests. Requests made to our email support will be treated in the next few days, including those who lost money because of our trading halt.
So my point will be these: the liquidations that happened and took the price to 100 were less than 25% of the total leveraged long positions. A lot of traders also have collaterals in BTC. Which means that nor Bitfinex nor Bitstamp had enough depth to absorb the cascading liquidations that would have occured and drag the price to near 0 as ALL long would have eventually be liquidated.
So yes, halting the trading engine saved 15+ millions of dollars. Yes, we will be fair to traders that got caught in a short during these time (again, on support email, not in the thread). If you think we should have let liquidity providers lose everything and close the margin trading for good, I understand. Maybe we halted the trading engine a bit too long. But we do not regret this decision and think this was the fairest decision to take.
One last thing: we are not impacted by the problem of Bitcoin withdrawals MtGox have. When a withdrawal seems to have failed, we use the bitcoin address to do a manual double check. So far this is not an issue.
Thank you all for your comprehension and have a good day
Raphael
Hello,
I sent a support ticket without reply about money lost. Hopefully I will get a reply sometimes. Of course, it may sound an idiot amount for you guys, but for a trader who doesn't make much and is hard working, it's pretty sad to lose money that should have been prevented if a system was regulated and following trading best practices.
Waiting for a reply and will report on how it went.
Thanks.
February 12, 2014, 02:19:07 PM
bitfinex doesn' route via bitstamp anymore? i can't see the route button and the bitstamp quotes. Anyone, can cofirm this change? also leverage has changed without any notice. 
Please read this: https://www.bitfinex.com/pages/announcements
Interesting side-note:
- MtGox has halted BTC withdraws.
- Bitstamp has halted BTC withdraws.
- Withdrawing BTC from BFX works fine.
+1, That's a BIG PLUS ONE
For BitFinex, appears we made
the right choice !
February 12, 2014, 11:35:52 AM
bitfinex doesn' route via bitstamp anymore? i can't see the route button and the bitstamp quotes. Anyone, can cofirm this change? also leverage has changed without any notice.
Read their announcement page.. It is integrated. Jump to: