Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 281. (Read 723903 times)

Also for the record,
Tomorrow, Tuesday,
will make 1-week from
Wednesday last week the 29th
since I made my withdrawal request,
and it still reads, "PROCESSING"

You guys need to really take a look at
that new withdrawal policy you have implemented,
Don't see how anyone could think that is good business practice,
You are only going to lose customers behind having a policy like this in place.

Seriously !

Frightening. This is truly scary.

REDDIT TITLE:
How I stole roughly 100 BTC from an exchange and how I could have stolen more!

http://www.reddit.com/r/Bitcoin/comments/1wtbiu/how_i_stole_roughly_100_btc_from_an_exchange_and/

Question,

Is BitFinex's Platform A.C.I.D. Proof ?

Basically financial software often deals with online transaction processing, which is basically what traditional, SQL-based database management systems are made for, they guarantee ACID:

    Atomicity (processed as a whole, e.g. if transaction moves money from account A to B you cannot get to a situation when only one balance is updated)
    Isolation (concurrent transaction do not interfere with each other)
    Consistency (data always satisfies constraints)
    Durability (data is stored permanently after transaction is committed)

In computer science, ACID (Atomicity, Consistency, Isolation, Durability) is a set of properties that guarantee that database transactions are processed reliably. In the context of databases, a single logical operation on the data is called a transaction. For example, a transfer of funds from one bank account to another, even involving multiple changes such as debiting one account and crediting another, is a single transaction.

    Jim Gray defined these properties of a reliable transaction system in the late 1970s and developed technologies to achieve them automatically.

    In 1983, Andreas Reuter and Theo Härder coined the acronym ACID to describe them.


SOLUTION:

OP managed to trick the exchange's database into forgetting he withdrew 100 BTC by simultaneously selling off several 0.0001 BTC units and getting one of the small transactions to clash and overwrite the large withdrawal.

So both operations read his balance of X BTC at the same time subtracted 100 BTC and 0.0001 BTC respectively. The first operation wrote back the balance of x - 100 into the database and the second operation then overwrote that balance with x - 0.0001, effectively giving OP back those 100 BTC.

One of the most basic things you need to take into account when implementing a database is record locking, to make sure only one operation can access a specific bit of data at one time and that any operation must relinquish control before another operation is allowed access, to make sure such clashes don't occur and corrupt the data.

Edit:
He means doing something with the _private_ data, not the public one. Thanks a lot for your graphs by the way!


A while back I wrote a converter from the JSON file your code provides into ledger-cli format. With ledger you can then create gnuplot reports and/or do other stuff. Graphs are a bit underrepresented there unfortunately, but at least once you bild something for it, it benefits anyone using the program, not just bitfinex customers.

In the "Beta" thread, I also released a Google spreadsheet with stats/charts, way back - I stopped updating my perosnal one though and it might not work as expected... I personally went the ledger route.

An API to get my own data would be far better than anything else, even just a CSV file for example that just contains whatever is displayed on the history tab!

I'm kinda bored so I was thinking about coding a small page for processing & plotting history data (which can be downloaded from bitfinex with the javascript code I wrote). Would anyone be interested? If yes, what graphs and data would be helpfull?
 

@Bitfinex: Or will some kind of improved stats&analysis page be introduced in the near future?

Not satisfied with being a bad customer, people become patronising and call other user names and believes he may classify one's life from a one sentence long post.

I feel for individuals like this. It's not his fault. The hatred is inside, as he has mentioned his wife is an issue. Bless his poor soul.

Let's turn the page and get back to bitfinex.

Enjoy your slightly more orange tag.

Ente

Dude, whatever stuff you're on take it a notch down and enjoy a nice Sunday with your wife...

Sounds like I hit a nerve,
Right on target, just as I thought,
Freaking Children !

You are speaking with a grown man with kids,
Don't have time to carry-on with un-developed minds,
Guess that would make sense being that you're from "Third World Un-Developed Countries"

Careful a little gift from the USA, the next "TomaHawk Cruise Missile" or un-manned  "Drone" just may be coming your way,
Freaking Muslim Terrorists trading BitCoin !

Hm, hopefully you feel better after ranting now? Assume what you want about me, I certainly know what I assume about you... I'd better keep it to myself though.

In other news:
Interest rates are finally up a little bit and USD borrowed are at a new all time high!

When you guys stop living with your parents, we might start to respect your opinions, as previously mention, in the USA we leave home at the age of 18 years old, that was many moons ago, whereas you guys live with your parents all your life never learning responsibility simply waiting for your parents to die to inherit the house that your Great-Great-GrandFather built, who was probably the only person in your family that ever knew what it meant to be an adult and make your own way in the world because every since then you have all been living in the same house, you could never survive in the USA because your mind has never developed into a adult's mind, basically a child's mind inside of a adult's body, it's that way in the majority third world countries, children that never really grow up and learn responsibility, never having left home in your entire life besides a school or college field trip, pathetic children !  

How do I know this you might ask ?

Because the majority of people trading BTC are from Third World Countries,
you trade BTC just to try to be able to make a decent income because your
own Third World Country's Currency is sucking wind and is not worth anything, lol !

Now go back to your room in your parents house and close the door, they may just
let you be excused to go to the bathroom if you ask nice enough, until then play with
your PlayStations an X-Boxes like the kids you are, lol

Respectfully, I would prefer not to have any business with this kind of customers.

Please stop spamming and read the article http://en.wikipedia.org/wiki/Business_day instead.

Edit:
Also if you need money urgently, why do you withdraw with the slower method that does not guarantee delivery before you move away? Anyways, I hope everything works out for you.

Thank you Bitfinex team for all the hard work!


All I see from my side are rainbows, beaches and a beautiful sky.

For me, all would be well when all orders/orderbookentrys have the same effective fees.
Sure, a * for BitStamp or BitFinex would be nice, just to know. Not important for me though, I have Bitcoinwisdom running with BitStamp anyway, and Bitcoinity with the BitFinex chart when things get hot. Enough info for me here.

As we are at "make a wish":
How about that suggested "the liquidity taker may keep my liquid for another x days" button for liquidity providers?

The performance/speed really went up a lot. This by itself makes working with the platform oh so much more enjoyable! Thank you.

Ente

for me it's mostly related to market psychology.
Esp. during quick movements, the BFX internal market behaved significantly different than the "large public" markets Bitstamp and Gox.
My (surely subjectively biassed) impression is that "actions" tend to start rather from Gox and sometimes now from Bitstamp. Anyway, I often just watch the Bitstamp chart and when I see e.g. 2 big Ask walls inserted, then I'd like to identify those on the Bitfinex orderbook as well.

Regarding "psychology", Bitfinex had tremendous growth, but for all foreseeable future BFX and BSTMP are two audiences, and most notably one of these two audiences (BFX) can see and watch the other one in action, while the opposite is not true; action on Bitfinex appears as sudden market activity on Bitstamp (unless someone has an Bitfinex account and cares to look into the BFX orderbook).


Regarding the feature itself, in the past it had three distinct aspects:

• the ability of routing orders to Bitstamp or limiting orders to Bitfinex
• the fact that the Bitstamp orderbook could disappear any time temporarily (due to connection problems), so you'd better not rely on a big Bitstamp order sitting there
• the convenience to see which offer comes from which audience

Order routing is gone now. Not sure about the handling of connection problems. But the thrid point is surely just some convenience, since you can look on a Bitstamp chart directly.

how do we recognize bitstamp orders now?  could you have a * next to them please?

Nice job guys.

Thanks Chief,

I'm a member of:
https://www.TradingView.com
Primarily for the lack of a finding a good
BitFinex Chart to work off of that I can use indicators,
of which even they don't offer, I use their BitStamp chart
which is close but still not quite a BFX Chart, I'm aware of
BitCoinWisdom's BFX Chart, but BitCoinWisdom is no TradingView.com.

I've sent at least 3 to 5 people / referrals who've opened accounts at BitFinex,
They keep asking me for a "Referral Link" which I take as a affiliate link, my response
has been "Those are given out upon Request".

It's not that my Wife or I for one moment had any doubts in the Character of BitFinex,
but we are aware that bad things sometimes happen to "Good People", like Regulation Traps.

Which would not be a reflection upon BitFinex but more of the Chinese Government again,
having come into this market two days before the "China Exodus" on Dec. 5, 2013 we are all
too aware of the effects of China's Regulations, we took a serious dent just from that.

We watched this market make a five-times fold in Nov. 2013 when we found btc at $200 per btc,
by the time we got all of our KYC/AML regulatory requirements out of the way btc was at $1100 per btc,

Trust us when we say that we are not big fans of regulations, especially Chinese Regulations at this point.
Witness "Five-Fold", we come into the market and two days later the bottom drops out due to China, thus
leaving us with the market we have today, and now even more Chinese Regulations.

First no banks, secondly no third party money transactons like PayPal or AliPay, now no ClearingHouses,
The Chinese Govt. have all but murdered the Chinese Exchanges which all but lead the Nov. 2013 rally,
and still no one makes a move at https://www.TradingView.com without first seeing what Huobi
is doing first, it was BtcChina who the Chinese Gov. dropped the hammer on, now it's Huobi.

Here is a nice link you may enjoy:
http://www.mrspeaker.net/btc/


Thanks

During Chinese New Year we are using another of our banks.
Hong Kong is much more efficient and they keep closed only on monday.
I would expect your wire to hit your account around wed/thur, but please don't get angry if you get it on friday.
I will ask Raphael to get the verification email straight.

Thanks and please reassure your wife, we are not here for a quick buck.

Have a good weekend

Giancarlo
Bitfinex Team

Thanks Chief,

Guess this whole "New Years Chinese Regs"
Has me on edge, I imagine that answers my previous question
as to if the EMail Confirmation is also delayed for 3-Days, this
entire 3-Day deal is something new that's been implemented.

If so would it not be better to send out an immediate confirmation
something stating to the effect of :

"Your WithDrawal Request Has Been Received and will be processed within 3-Days" ?

My only concern now is that a 3-Day deal puts me inside of this 5-Day Chinese Holiday,
will that add another 5-Days to the 3-Days for a total of 8-Days waiting time before the
process even starts ?