Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 295. (Read 723903 times)

offers and demands matching can take several minutes, up sometimes to 10 minutes or even more, subject to trading server usage.
In other words when the trading sucks up server resources, the matching slows down.
We ordered new servers, but new users are joining at overwhelming rate, so no matter how much capacity we are adding we are always short.
Priority must be given to trading though, I hope you all understand why.
I apologize about the inconvenient.

Thank you and have a great 2014

Giancarlo
Bitfinex Team

The lending engine can take a couple minutes.  I've seen this with auto-lending.  Ex. once you get your daily interest, it takes several minutes to post this as a lending offer.

My guess is that it's only scheduled to run every couple minutes.

Yep, now these were gone within like 5-10min so could it be the lending engine is just that slow?

Also still can't figure out how to lend so it auto renews at the Flash Return Rate

I haven't checked to see if this was discussed before or if it's not unusual, but..

are lending interest rates on the site subject to manipulation?  I noticed they dropped pretty rapidly the past few days, and was wondering if this could be manipulated by posting orders below the FRR, filling them, and then quickly cancelling them.

I'm hoping the way the FRR is calculated is smarter than that, but I figured I would ask.

I truly appreciate your effort in maintaining and upkeeping BFX. You have done a great job!

Don't worry about nasty comments. We can see who is right and who is wrong.

If BFX maintains the current momentum, no doubt it will be one of the largest trading platform.
I would like to urge you to be proactive in ensuring compliance to all applicable laws and regulations in the jurisdiction. From a corporate angle, please consider transferring the system under the company ownership. Same for bank accounts (if not done so). If the system is ready, do declare that it is in a full release version? From a financial angle, do strive for at least an implicit approval from the authority. Reference what other existing exchanges in the same jurisdiction have done.
Doing these will ensure the longevity of BFX. 

I wish you had some videos on how to use some of the more esoteric features of your site.

It's on the list of things to do.
Raphael has been busy with a lot of things lately and we are now hiring new devs in order to shore up our new features.
It is not easy to find good people ( we already found a couple of very skillful ones) and in this moment theoretically ( very theoretically for the Bitfinex team ) it's vacation time.
If you take a look at the past months we have been walking a long way.
Bitfinex was born in late october 2012.
It took us until the year end 2012 to add 148 users.
We are now up to a 5 digit number and there are days where we add more than 148 new users in one day.
I believe we did a good job in managing this growth, but it stressed us a lot.
It's like being on a surfboard trying to escape from a 10 meters wave.
24/7.
We have been sailing thru some very scary storms ( april 10th anyone?), but we always made it.
And no liquidity provider at Bitfinex ever lost one penny.

I apologize if I was not always very nice, but there were moments where people's complaints seemed a little too out of whack to me.
I believe Bitfinex will be one of the top 3 trading platforms one year from now.
The challenge we are facing is big and full of dangers.
But I think together we can make it, by rowing all in the same direction and understanding the fact that taking things from 99% perfect to 99.99% perfect is a hell of a job.

On behalf of Bitfinex I wish you all a very happy year-end and a very good 2014.

Thank you all

Giancarlo
Bitfinex Team




 

I observed several times when it looked as if stop orders weren't triggering, where, at first glance I thought they should have.
But when investigating closer (including data available via the API), it turned out to be correct.

Kitkat007, please re-read this response again, and try to judge it as an outside observer.
Just a hint: talking this way is very telling about your mentality.

---

I'd like to add a note regarding that issue of stop orders seemingly not triggered. (I am a user, and not affiliated to Bitfinex in any way) I observed that behaviour multiple times too, and thought there might a be a bug or problem in the engine. But when watching carefully, I couldn't find anything actually to complain.

The point is, matters are far more complicated when you take a close look (as in e.g.: try to implement a trading engine or algorithm).
There is not just "IT" went down. Actually, there are several rates involved.

• you can create a rate value function by connecting the price of each deal happening on the platform (and then making that into a continuous function of course)
• you can do the same by connecting only the deals done on one of the connected platforms. This function looks entirely different
• next, you can use some heuristics and combination with other data, to create for each of the above a bid rate and a ask rate function
• and besides all that, you can create similar functions based on the offers currently in the system. The reasoning is that such would be the rate the next buy / sell would happen at
• and last but not least, you can (and indeed should) use a heuristic formula to combine all those data into two functions, which could be titled "effective nominal current bid / ask rate".

Note, the last one, this "effective nominal current rate" is what drives the events of the engine. There is no canonical solution for this, and there can't be, since it is at the very core of the specifics of any trading algorithm or trading engine how to build those functions. Also there are somewhat non-deterministic effects involved, since every engine runs at a specific sampling/update interval and only captures data with a certain granularity.

If you look closely, you'll notice that the nominal rate, as displayed in the UI, is often slightly different than what is visible over the API functions as last trade, or what is visible e.g on Bitcoinwisdom (which, as I take it, also pulls the Bitfinex API)

If, after shaving away all those complexities, there remains a situation where the nominal rate is lower than the trigger point of a given stop sell for more than one update period, then this would actually be a bug and I'm sure Bitfinex stuff will be very interested in getting a full documentation of such an incident.

I spent the afternoon to hack a crude translator from the json file(s) that the script from wassupia (https://bitcointalksearch.org/topic/m.4041643) outputs to the file format of ledger (http://www.ledger-cli.org/).

I am not an accountant, so I might have done some bookings to various accounts wrong, also it needs to be severely cleaned up (and has some limitations that come from Bitfinex - e.g. no year is mentioned in their log or it takes some time to actually even get a date + time, not this "xx minutes ago" bullshit timestamp).

It works though and is enough to get an overview of amounts earned/lost and fees paid etc., so I guess it's fine to just post it, maybe someone wants to use it too.
Pastebin: http://pastebin.com/fepuCfCW

You need to put this in a seperate file (e.g. bitfinex2ledger.py) and save usd.json and btc.json in the same folder next to it.
It will simply print the formatted data to stdout, redirect that to a file if you need to.

I used all the log messages that I found in my ledgers, there are likely more (e.g. Litecoin deposits/withdrawals and whatever OKPAY is...) - it will print "UNKNOWN ENTRY... DATA: ..." in case it cannot find a match - in that case feel free to post the data portion here (just fill in random digits if you are concerned about exposing stuff) then I will add this to the script.

Unfortunately not.
But this is a very frequently posed feature request.
(Typically the request is to combine a limit and a fixed stop)

This would be very helpful indeed, since it supports the standard situation when you try to "get into a position".
My guess is that implementing such a feature will create a challenge for both the internal data representation and the visualisation in the GUI


@Bitfinex team: are there any plans or have you considered such a feature?

As I already wrote, while this is a noble effort, this is probably not enough for me to use in tax filings - I don't want to pay too much or too little just because of some edge case on a 3rd party JavaScript that even contains spelling errors in fuction names ("choise").

Also you should remove the www. when calling bitfinex' history (in getHistoryData, var html), it errored out on me because of that... [Edit: no, the issue was that I did not change the "FirstPage" and "LastPage" fields in the form, the www. is probably fine.]

Edit2:
@Bitfinex guys: It would be great to at least have a year mentioned in the ledger part until we can have csv exports...

Edit3:
I wrote a translator from Bitfinex history to ledger-cli and my ledger on Bitfinex does NOT balance to the same amounts it does on ledger (it is off by the whopping amount of 0.00000004 USD). Now the problem is that either your balance calculation is off (I only used Debit/Credit amounts displayed), the JavaScript CSV exporting script is wrong or ledger-cli has a problem...

I made a history to cvs to json export function in javascript (firefox only for now, I might turn it in a bookmarklet one day):

https://bitcointalksearch.org/topic/m.4041643

Once you have the csv you can use eg excel to filter and sort the data.
If you need any help, you can PM me.

Yes, I have a _lot_ of entries in my ledger and that's only mostly from lending! Also in my tax statement I need to use not USD values, so I probably need to get daily USD/EUR rates and calculate profit/loss for every day in EUR.

Please, after nearly one year allow us to download a csv version of the ledger!

For calculating my taxes, I really hope you either

1) create an export function for history
OR
2) have two internal functions to calculate annual A) trading gains/losses and B) interest


Otherwise I'm going to have to do a lot of data entry myself. And I only made a small number of trades. I can only imagine what a day trader would have to do!

thx

I just wanted to say that Bitfinex was able to fix my problem and was very helpful. Thanks!

is there a way to combine a limit order with a trailing stop? i.e. if the limit is reached, the trailing stop discards itself.

Click on "withdraw"
then on "recent deposits and withdrawals"