Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 279. (Read 723903 times)

+1

Very serious matter, not just on P/L but other things that WILL put people's money at VERY HIGH RISK.

Please take it down immediately before more damage is done.

BITFINEX SUPPORT.   I AM SEEING NUMEROUS REPORTS IN IRC THAT P/L NUMBERS ARE NOT CORRECT FOR CUSTOMERS (myself included).

PLEASE LET US KNOW YOU ARE LOOKING INTO THE VARIOUS ISSUES BEING REPORTED TODAY.   We would prefer you took the system down to verify all account balances are in order rather than have people trading with erroneous balances.

PROTIP: you can go to the swap page https://www.bitfinex.com/credit and

a) reserve credit using existing offers before you open a position
b) add Liquidity demand bids way lower than best "Liquidity offers" ask.

If you go long BTC using high-interest loans and the market goes sideways or down then yes, you'll loose money. Please don't confuse that with a notion that it's "impossible" or "no way" to make more than enough to buy salt for your oatmeal by going long on margin - because it is.

Pigs are obviously going to get slaughtered, but that's a good thing. Your loss -> my portfolio etc

Thank-you for the quick reply!!  I'll await the wire getting credited to my account.

Yes, you are.
We switched back to the old bank as Chinese New Year is almost over.

Have a good day

Giancarlo
Bitfinex Team

So, looks like the banking info changed again today, and of course it was between me sending a wire payment and seeing the new information.  Am I going to be OK??

technical question to the Bitfinex team: how do you handle now the situation when you loose the API link to Bitfinex? Will you still remove Bitfinex orders from the orderbook temporarily, until you re-establish the API link?

could you please explain that like to a 5 year old? for me it reads like "removed pink elephants from the site.."


does it mean i have to market close every margin position and cant sell to close a long?

Where do I find the Referral code to give discount to someone?
I remember some people distributing them. Now I have some friends who want to join and I promised them a referral code.

Thanks

No it refers to the order book, or the "market depth display" if you want.

A single exchange has typically orders at a bid side and an ask side and a gap in between, called the "spread".
Whenever someone places an limit buy order above current ask price or a limit sell order below current bid price,
this order can be trivially filled and thus will be filled immediately.


But for a service like Bitfinex, which aggregates several actually independent markets, this structure doesn't hold anymore,
since not every limit buy matches automatically with any applicable limit sell order. If you just overlay the offers of two markets
into a single 2nd-level orderbook, it can well happen that the lowest ask order is below the highest bid order, whenever the behaviour of the underlying markets diverges substantially. This situation is known as "crossed orders". This can lead to confusion as to when limit or stop orders are actually triggered by the trading engine.


The change implemented now by the Bitfinex people is that they now don't display such "crossed orders" anymore. Rather they detect them and execute them in a best match way until the crossing has resolved and bid is below ask again. That is what I infer from the quoted statement and from observing how the trading engine works now. (Please correct me if I'm wrong)

If you have more requests / suggestions please let me know and I might just add them

Regards Bjorn

Workin' on it Overhere you can have a sneak preview:

http://charts-bfxdata.rhcloud.com/graphTotalLendsBTC.php
http://charts-bfxdata.rhcloud.com/graphTotalLendsLTC.php

I will add a complete liquidity stats page for BTC / LTC soon (same as for USD). Almost ready just some final touches and I'll add them.[/s]
Just added complete liquidity stats pages for BTC / LTC (same as for USD).