[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 261.

russokai

full member

Activity: 130

Merit: 100

Quote from: urwhatuknow on February 10, 2014, 07:28:19 AM

Quote from: russokai on February 10, 2014, 07:25:50 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

You do know that this is going to happen over and over and over again when the market has some volatility? That outtage just cost me $8000 in profits and I'm sure many lost even more...just not acceptable. You guys need a better system with your site.

Feel free to post any suggestion.
We will pay you if they make sense.
Otherwise just stop talking nonsense.

Giancarlo
Bitfinex Team

The suggestion is to FIX YOUR WEBSITE. Hire some people who are smart enough to do it if you are not.

Bitstamp DID NOT go down

BTC-E DID NOT go down

Bitfinex did go down.... not tough to figure out who is incompetent here.

wilfried

sr. member

Activity: 288

Merit: 250

ManualMiner

wow according to the market statistics about USD $ 6,000,000,-- less active swaps than this morning, there must have been some margin calls

ledmaniak

sr. member

Activity: 266

Merit: 250

Bitfinex,

When closing a short, I would not expect you need bitcoins for that because you are buying them back. Why did trading for the short positions not continue? No fiat money available at bitstamp/bfx? From what I read, most people lost because the couldn't close their short..

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Quote from: russokai on February 10, 2014, 07:25:50 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

You do know that this is going to happen over and over and over again when the market has some volatility? That outtage just cost me $8000 in profits and I'm sure many lost even more...just not acceptable. You guys need a better system with your site.

Feel free to post any suggestion.
We will pay you if they make sense.
Otherwise just stop talking nonsense.

Giancarlo
Bitfinex Team

russokai

full member

Activity: 130

Merit: 100

Quote from: unclescrooge on February 10, 2014, 07:25:41 AM

I'd just like to point out that if we did not have stopped the trading engine, the cascading effect of liquidations would have been terrible (just look at the charts already).

So we DID make the right choice in halting the trading engine to avoid this situation.

One day the Bitcoin market will become mature enough to support this level of volume, right now it isn't;

THanks for your comprehension
Raphael

So why didn't Bitstamp go down? It was up the entire time that you "halted" trading (without warning).

BTC-e did not go down either.

It's not the Bitcoin market that isn't "mature" enough...it is Bitfinex that is immature.

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Quote from: btcdrak on February 10, 2014, 07:23:19 AM

Quote from: urwhatuknow on February 10, 2014, 07:22:04 AM

Quote from: Indamuck on February 10, 2014, 07:15:39 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

Wow, the author of "how to win friends and influence people" just showed up on the forums. Can we have an autograph?

It's difficult to keep calm with idiots like you.

Baalinooo

newbie

Activity: 3

Merit: 0

Quote from: urwhatuknow on February 10, 2014, 07:22:04 AM

Quote from: Indamuck on February 10, 2014, 07:15:39 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
20k, 30k?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

With all due respect, I started trading a month ago and even I knew there would be a crash if Mt.Gox update announcement was bad news.

russokai

full member

Activity: 130

Merit: 100

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

You do know that this is going to happen over and over and over again when the market has some volatility? That outtage just cost me $8000 in profits and I'm sure many lost even more...just not acceptable. You guys need a better system with your site.

unclescrooge

hero member

Activity: 868

Merit: 1000

Everyone,

I'd just like to point out that if we did not have stopped the trading engine, the cascading effect of liquidations would have been terrible (just look at the charts already).

So we DID make the right choice in halting the trading engine to avoid this situation by letting price calm down a bit.

One day the Bitcoin market will become mature enough to support this level of volume, right now it isn't;

THanks for your comprehension
Raphael

Quote from: btcva on February 10, 2014, 07:13:11 AM

Quote from: btcva on February 08, 2014, 01:08:37 PM

I have a question about the new way that Bitfinex integrates the Bitstamp order book. Raphael has said that now Bitstamp orders are augmented by between 0.15% and 0.25% before being displayed on the Bitfinex order book. However, take a look at these images of Bitstamp and Bitfinex order books taken at the same time earlier today:

Bitstamp's order book - http://imgur.com/D8TqTks
Bitfinex's order book - http://imgur.com/AKh049t

Based on what Raphael said about price augmentation, the lowest ask on Bitfinex's order book should be no greater than $706.91 ($705.15*1.0025) - the lowest displayed is $709.41. And the highest bid should be no lower than $706.06 ($705*1.0015) - the highest displayed is $704.34. So either what Raphael told us about integration of the two order books is wrong, or the process is error-prone. And I have observed this phenomenon very often. This, to me, is very troubling. Does anybody have an explanation for this?

Raphael and Giancarlo - I know you're both probably very busy right now with everything going on. But when you get a second, could you please address this issue I raised? I think it's very important, and a cause of confusion for many people. Thanks!

Hello,

Please send an email to [email protected] and we'll take care of it (if already done it will be tajen care of)

Thank you for your comprehension
Raphael

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Quote from: Wassupia on February 10, 2014, 07:23:39 AM

Quote from: urwhatuknow on February 10, 2014, 07:18:36 AM

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Does that mean liquidations have been reversed and lenders money is safe?

Lenders money is safe.

Giancarlo
Bitfinex Team

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: Wassupia on February 10, 2014, 07:23:39 AM

Does that mean liquidations have been reversed and lenders money is safe?

My margin call limit sure as hell was above 100$. I was not liquidated. I, for one, am a happy fckr.

Ente

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: urwhatuknow on February 10, 2014, 07:18:36 AM

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Aah, you were talking about BTC deposits, not USD deposits! Now this sounds much, much better!
Thank you for getting stuff up and running again.

Ente

Wassupia

member

Activity: 106

Merit: 10

Quote from: urwhatuknow on February 10, 2014, 07:18:36 AM

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Does that mean liquidations have been reversed and lenders money is safe?

btcdrak

legendary

Activity: 1064

Merit: 1000

Quote from: urwhatuknow on February 10, 2014, 07:22:04 AM

Quote from: Indamuck on February 10, 2014, 07:15:39 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

Wow, the author of "how to win friends and influence people" just showed up on the forums. Can we have an autograph?

BitBits

full member

Activity: 144

Merit: 100

Quote from: ?? on ??

I have mixed feelings about this one. BFX will handle it as they choose to handle it and some will whine and get upset and some will be very happy about it.

Yes, you're supposed to get cheap coins when the market crashes if you have bids, and you're supposed to loose money if you're long. But you're also supposed to be able to trade Bitstamp at BFX and for some reason Bitstamp fell out and orders were done on BFX only and it seems a chain of margin calls brought the price down to $100. BFX can reverse trades or a lot of lenders will loose a lot of money. In a free market lenders should perhaps loose money and those with bids should perhaps get cheap coins, hard to say what's "fair". At the end of the day we will just have to see how BFX chooses to handle this and what happens.

It actually looks like this (ridiculously done) sell order was real because the same shit happened at BTC-E. They've had the same dip in price, all the way to 100. So whatever happened with your orders was a real thing, NOT A GLITCH !!!. The only problem was that trading halted, but my feeling is that this is some sort of a "safety" mechanism (possibly created due to recent glitch), in case there are super weird trades in the system.

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Quote from: Indamuck on February 10, 2014, 07:15:39 AM

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
20k, 30k?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Indamuck

hero member

Activity: 1120

Merit: 554

Quote from: unclescrooge on February 10, 2014, 07:01:42 AM

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

btcva

newbie

Activity: 4

Merit: 0

Quote from: btcva on February 08, 2014, 01:08:37 PM

I have a question about the new way that Bitfinex integrates the Bitstamp order book. Raphael has said that now Bitstamp orders are augmented by between 0.15% and 0.25% before being displayed on the Bitfinex order book. However, take a look at these images of Bitstamp and Bitfinex order books taken at the same time earlier today:

Bitstamp's order book - http://imgur.com/D8TqTks
Bitfinex's order book - http://imgur.com/AKh049t

Based on what Raphael said about price augmentation, the lowest ask on Bitfinex's order book should be no greater than $706.91 ($705.15*1.0025) - the lowest displayed is $709.41. And the highest bid should be no lower than $706.06 ($705*1.0015) - the highest displayed is $704.34. So either what Raphael told us about integration of the two order books is wrong, or the process is error-prone. And I have observed this phenomenon very often. This, to me, is very troubling. Does anybody have an explanation for this?

Raphael and Giancarlo - I know you're both probably very busy right now with everything going on. But when you get a second, could you please address this issue I raised? I think it's very important, and a cause of confusion for many people. Thanks!

ledmaniak

sr. member

Activity: 266

Merit: 250

Any words on this and how you are going to compensate for losses made?

Quote from: scorp1618 on February 10, 2014, 07:12:21 AM

Everyone should just chill out. Acting immature and making assumptions will get you no where.

Easy talking. How much did you lose actually?

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 261. (Read 723903 times)