Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 268. (Read 723903 times)

Bitfinex - Please contact me IMMEDIATELY - there is unaccountable activity in my account.

I have 'auto-renew' on, but funds have been sent to the exchange wallet and BTC bought. Also, I couldn't login, had to change the password ... wtf?? Auto-renew is still on, but I'm holding BTC that I never traded ...

It looks like someone was preparing to make a withdrawal .... omg. Damage right now is that I own BTC at a bad price ... but can be reversed. But we need to figure out what has happened ...

(I used to route all my orders BFX when that was possible)


Me too,
Never had a problem with routing 100% BFX on limited orders,
Only Market Orders would also get filled by a mix of BFX and Stamp,
I rather enjoyed knowing that all my limit orders were going through BFX,

But even then if one ever forgot to check that "Route To"  Box,
the order would default to the way it is now, a mixture of BFX and Stamp.

It was really nice to just route to BFX and only be charged .15%,
Lower than anyone in the Market.

Felt like routing to BFX was actually helping BFX to wean itself away
from needing Stamp.

Didn't they just change it to always charge 0,15% and doing the price padding thing to cover up the difference?

I'm no pro here,
but what I've noticed,
is that one can only see the difference
in the history after the order has been placed
as to where it's been routed, BFX or Stamp.

I was under the impression that testing if I placed a buy stop
at 300 for 11 btc that their would be no charge and that it would just
show a buy stop at 300 for 11 btc, like a limit order


Interesting,
There is really not a clear explanation of all the order types on the site,  


I understand what you're saying now, that Buy Stop would be used to stop out a short position,
Damm, I feel really stupid now, but still it was a honest mistake, just testing,
A simulated sandbox site would also be nice for testing purposes.

What were you expecting the order to do?

A "stop buy" is a market buy that trigger when price is ABOVE the stop price, a "stop sell" obviously the other way around. You can use this to either stop yourself into or out of positions.

From your wording I suspect you were looking for something like a "stop limit" order, but this is not available on Bitfinex afaik.

PS. You would do well to try out the features with much smaller orders, good luck!

Listen, sent a PM and a EMail also:

I know you are not "Santa Clause",
But BitFinex system seems really different at times,
for instance:



Hey Giancarlo,

I made a bad trade that was purely my fault,
took a long position and did not have time to
set the stop because the market went against
me before having time to set the stop, before that
my balance was:

$XXXXXXXXXXXXXXX

I wanted to set the stop at 699
but as soon as I entered the market the market
started diving, O.k., grant it, that was my own fault,

however after exiting that order, I was concerned
about how to place a Buy stop at BitFinex in the Margin Trading
section, at the time my balance was

$XXXXXXXXXXXXXXX

At that time not having any active orders,
I was under the impression that testing if I placed a buy stop
at 300 for 11 btc that their would be no charge and that it would just
show a buy stop at 300 for 11 btc, like a limit order, but before placing
the stop it asked me "Are you sure you want to place a Buy Order
below Market Price", and I pressed the button "Yes" and instead of
placing a single buy stop at 300 for 11 btc alone it actually filled the
buy stop request for 300 at market price ranging from 670's to 680's.

I did not want to place a market order for any btc at that time, I was
just testing the system for how to place a stop in margin trading, but
it actually filled an unwanted order, my balance after the unwanted
market order is:

$XXXXXXXXXXXXXXX

I immediately closed the position, you can check because it was not,
Can you at least set my balance back to:

$XXXXXXXXXXXXXXX

That was a pure mistake of not being familiar with how the BitFinex
system works, is it a bug to not be able to place a stop before placing
an order ?

Thanks,
CambioBTC

MT4 sure is a nice piece of software - BUT as far as I read about the integration of it on BTC-e there seems to be constantly issues with depositing/withdrawing to and from the MT4 interface to BTC-e. If you could trade oh so professionally there, why did you go to Bitfinex in the first place? Anyways, enjoy your loss, be happy that it was less than a single bank note in the US and either make up for it (there is VERY easy money to grab right now) or move to your professional EU based MT4 enabled professional platform.

It's actually a low 2 digits number.... as I said much ado for nothing


Giancarlo
Bitfinex Team

Based on my understanding, if the price fell to $702 on Bitstamp, you'd actually have to place an order on Bitfinex at $703.755 ($702*1.0025) to ensure execution, based on the price augmentation I discussed.  The problem that I see, however, is that I'm not sure what is actually occurring in the integration process, given the errors I described.  Are Bitstamp orders being integrated into Bitfinex's order book and executed, just with augmentations other than the 0.15% to 0.25% Raphael mentioned?  Or are Bitstamp orders not being integrated at all?  Or are they being integrated based on what Raphael said, but with errors?  I don't know.

Since the update, I never see bitstamp orders being executed. I had a limit order at 702.35, price drops below 702 and still the order was not executed..

By the way, it seems that bitfinex solved the 'issue' where you could put 10 orders in the order book that are way higher than what you have in your account. I was not allowed to put another in.. had to remove the old one first.

Didn't actively trade on bitfinex for a while, but I keep checking up on it once in a while, as I'm still interested in it.

Can someone give me a high level summary of how the bug/hack is being resolved by the owners? They rolled back all trades from the time in question, or only a part of them? And I'm trying to understand: it's a full rollback (i.e. no gains are credited from that time, but also no losses)? Or are people that got margin called going to have to suck up a loss as a result of the hack?

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?

nono, regulation by cost or regulation by law = ==, = bad

hy bitfinex!
you changed the website session timeout from neverending to some half hour or so. could you provide the option to set it to neverending?
also when re-loging in i get some api output but not the website, is there a possibility to get directly to the webgui?
thx

There is a much deeper question involved here.

If we want to protect people against each other actions, if we try to prevent every possible way of "manipulation", we end up at a regulated market. In fact, the traditional markets became more and more regulated exactly this way: Whenever someone got burned, he immediately starts yelling, asking the "authorities" to protect him against losses. But if the "authorities" then place taxes on the gains, everyone is pissed off.


That being said -- an order book just shows offers, not more. It is not binding.
Fake orders and real orders can be placed and pulled any time. This shows some current sentiment, not more, not less. But for a reliable judgement, you should look at the actual deals, and more importantly, you should look at the actual trading volume.


Others have already pointed out, that it can be convenient for a trader to have long term orders sitting there, and temporarily place short term orders closer to the spread. At times you'll even place several buy and sell orders at the same time.

Now the proposal is to prevent or limit this pattern. Personally I think this shows a questionable mindset: basically you assume that it is necessary to watch and guard people's actions. This is nannying.

If we we consider placing such fake walls harmful, the proper way of defence would be not to "regulate", but to make them expensive: simply deduce the trading fees from any order considered for execution, even if the order will be discarded due to lacking margin.  

Yeah, because mt4 on btc-e works sooo great!

Do yourself a favor and go trade there, with their amazing Bulgarian support and real tested platform.

Also how did anyone lose anything now? If you sell because you see something, you are still selling out of free will, not getting liquidated or forced in any way.

In trading, if someone panicks, he deserves to be burned hard.
If someone can't control his emotions, he'd be better of putting the money into some kind of pension fund at his local bank.

Nice proof that you're clueless.

Some people will behave according to your "algorithm". These are those kind of noobs which buy at all time high and sell at the bottom, just before the market turns round. And yes, the market needs a herd of clueless noobs. Those are there to allow skilful traders to make extra profit.

Some points you need to understand

• market equilibrium is driven by real forces, not fake power.
• people do buy / sell at a given point, because they want to do so, for whatever reason.
• when your strategy is built on cheating other people, be prepared to be gamed yourself.

Plain and simple for all the stupids in here: It´s OK to have this feature but no way it should be displayed in the public order book.
Even a monkey would understand this....