Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 269. (Read 723903 times)

Let me try to understand your point of view better. Please answer this simple question:

A 100 BTC ask in the orderbook is:

[ ] Scary and you should put asks below it or sell at market immediately
[ ] A chance to do a big buy and take a big position without moving the market

i am completely fine with how it is, because that way you can mix long term orders with short term orders, lets say:

-i go short at 800 and put a stop buy at 805 and a limit buy at 750 and my margin is exhausted.
-i still can have a decent buy limit order @ 300 to catch a bottom.

No, they don't.

[...] Real traders who want to sell will set their price below the wall. [...]

..but then again, I place my orders according where it looks like I should place them on the chart and mostly ignore the orderbook. As I said: There is such a thing as hidden orders on Bitfinex and the minimum size for placing them is only 100 BTC.

What is a "Hidden order"?

A hidden order is an order which does not appear in the orderbook, and thus doesn't influence other market participants. See the fees page for minimum size and fee applicable.

Yes, you really can bluff and rustle n00bs jimmies.

But "manipulate" the market? Not too sure about that one.. Just now someone here apparently read my post and put buy orders at $0.01 and put up 40k BTC asks. Were my jimmes rustled by that? No, of course they weren't.

I hate to sound rude but if that's all it takes to rustle your jimmes then you really shouldn't be trading at all.

If you have like $100 in your exchange wallet then you can put a bids for 100 BTC at $1. Now the system assumes that these may get hit at some point and that you should therefore be able to place sell orders for them in advanced, so now you can place a 100 BTC ask at say $720 and rustle people's jimmies. Now, if this ask is hit then it will just cancel since you don't have 100 BTC - but you can place the order.

Yep, we can all do this. And we can also all easily see when someone who just figured this out is playing around: You can put up 100 x 10 BTC bids or asks but you can't put up 1 x 1000 BTC - thus everybody can easily see that someone just figured this out. A bid order of 100s of small orders is quite easy to see.

It's no big deal, someone buys or asks from your "wall" and the orders cancel after stretching your margin to the limit.

You should be careful placing toy walls close to the spread if the book is thin overall because at some point I'll just FOK your order until you're at your limit and move the market with real actual funds backed by my exchange wallet (or trading wallet if you put a bid up) and then you're toast. And we can do the math, if you put up an ask of 1000 BTC with 100 orders when it's easy to see that you're only able to short 10 BTC - period. Thus I'll just put a real 100 BTC bid there and move it up until you get a margin call or your jimmies get sufficiently rustled. And I'm no big fish at BFX just because I can put real 100 BTC bids and asks up, there are quite a few 1000+ BTC position players in our sandbox.

It has been possible to add 100s of orders of your maximum order size for a very long time and it's never been a problem except for those who do it for fun.

i still dont get what that "liquidation price" on margin trade positions mean..
is it the price @ which the margin call is imminent?

i still dont get what that "liquidation price" on margin trade positions mean..
is it the price @ which the margin call is imminent?

I found an exploit on bitfinex where ...

hey, we dont give a shit

You clearly underestimate - at least my - capability for annoying the hell out of someone that did me wrong.

You can be certain that if they don't give me back my money, in a year from now, I'll still be pinging this thread regularly and talking about their screw up and the unprofessional way they are handling the matter.