[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 322.

nby

newbie

Activity: 27

Merit: 0

Quote from: urwhatuknow on November 21, 2013, 12:28:33 PM

Third party financial institution, which can guarantee large amount credit line or factoring? May be the same Slovenia bank knows some solution?

Slovenia has a systemic risk embedded, no way we'll put your money there.

Third party financial institutions taking risk on a bitcoin related business? You must be kidding me.....
If you find one you win 10 BTC, not only 1.
Wink

Thanks anyway

Giancarlo
Bitfinex Team

I'd bet you have already looked into this, but have you considered a bank from the same group of Bitstamp ?
I'm not sure about it, but I believe that you could obtain bank deposits/withdrawals in the same day even between banks in different countries, if they belong to the same group. This has been reported somewhere in this forum some time ago, so it must be taken with a grain of salt.

If this is indeed confirmed, you could try and find a country with a lower systemic risk than Slovenia.

I'm considering myself opening an UniCredit Group account in my country, should what I said above be confirmed and my needs require it.

nrd525

legendary

Activity: 1870

Merit: 1023

This is a rather big idea that shouldn't necessarily be high priority:
You could promote shorting BTC as a service for bitcoin merchants to provide price stabilization.

You could ensure that they get exactly the price that the bitcoins were worth at the time of purchase and not have to worry about any changes in its value while transferring the coins to an exchange for sale.

Might be best done by integrating with one or more merchant payment processors (ex. Coinbase).

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

When it says that large withdrawals will be processed manually, what does "large" mean, and how long does "manually" take?

Drabla

member

Activity: 104

Merit: 10

Pecunia non olet

Quote from: Spaceman_Spiff on November 26, 2013, 04:05:28 AM

Quote from: 8fold on November 26, 2013, 03:20:16 AM

Quote from: Spaceman_Spiff on November 25, 2013, 06:22:55 PM

Thanks for listening to our suggestions and sending out email notifications for the maintenance shutdown.

Is this sarcasm? I haven't received any emails.

I did.

Havent' received a mail either - Checked Spam, Mail Server Log & Account Settings. All good but no mail- Perhaps they send them in batches to avoid getting listed on a spam list? Roll Eyes

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: 8fold on November 26, 2013, 03:20:16 AM

Quote from: Spaceman_Spiff on November 25, 2013, 06:22:55 PM

Thanks for listening to our suggestions and sending out email notifications for the maintenance shutdown.

Is this sarcasm? I haven't received any emails.

I did.

"
Hello spaceman_spiff,

On the 26th of November, 2013, at 15:00 GMT, Bitfinex will be shutdown for a maintenance operation.

This shutdown will be effective for 30 minutes.

Thank you for your comprehension
--
Best regards
The Bitfinex team
"

8fold

sr. member

Activity: 391

Merit: 250

Quote from: Spaceman_Spiff on November 25, 2013, 06:22:55 PM

Thanks for listening to our suggestions and sending out email notifications for the maintenance shutdown.

Is this sarcasm? I haven't received any emails.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Thanks for listening to our suggestions and sending out email notifications for the maintenance shutdown.

nrd525

legendary

Activity: 1870

Merit: 1023

The popup notices "your offer has been placed" stay up about 5 times too long. They clutter the screen and can block my account balance when I'm using a narrow screen.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: nosttrader on November 25, 2013, 05:43:09 AM

Is there any plans to increase the Total Insurance Fund? Currently it is at $52k USD which isn't too much with the amount that is being lent.

+1

nosttrader

newbie

Activity: 2

Merit: 0

Is there any plans to increase the Total Insurance Fund? Currently it is at $52k USD which isn't too much with the amount that is being lent.

wilfried

sr. member

Activity: 288

Merit: 250

ManualMiner

Quote from: nrd525 on November 24, 2013, 03:45:58 PM

Small fixes:
The margin-trade liquidation price has ** and p/l has *. My guess is this indicates a footnote. It would be nice to get the footnote/explanation when I mouse
over the item. Use the title tag!

Or have a link to the more information. Otherwise they are random clutter.

The P/L value in My Active Positions updates at a different time than the value in Account Overview.

The Trading Balance number in "Your Balance" is inaccurate as it doesn't include trading losses. The only thing it represents is the value of your original position which doesn't tell you anything about your leverage ratio, margin required, or actual position.

not quite either. as soon as you open a position some bucks are subtracted from "your balance". how much and why, couldnt quite figure out until now.
"liquidation price" is a riddle to me 2.

xeverse

full member

Activity: 124

Merit: 100

Quote from: Ichthyo on November 24, 2013, 03:42:37 PM

typically you'd either use a limit order above current market spread, or you use a "trailing stop" with a given relative distance.

Thanks for the explanation. Right.

But i'm asking about something completely different.
I believe they called -- Market if Touched Orders (MIT).

Quote

Market if touched orders are identical to stop orders,
except that they are used when the market price has already traded past the stop price,
and the trader only wants the order to be processed if the market price comes back to the stop price.

For example, if the market price is 1.3010, and the trader places a buy market if touched order with a price of 1.3001,
the order will only be processed if the market trades at or below 1.3001. If the order is processed,
it will be processed as a market order, and will get filled at the current best price.
Market if touched orders will trigger the opposite way than a stop order, so for a buy order,
the trigger price must be below the current price, and for a sell order,
the trigger price must be above the current price.

We could put these to good use!

nrd525

legendary

Activity: 1870

Merit: 1023

Small fixes:
The margin-trade liquidation price has ** and p/l has *. My guess is this indicates a footnote. It would be nice to get the footnote/explanation when I mouse
over the item. Use the title tag!

Or have a link to the more information. Otherwise they are random clutter.

The P/L value in My Active Positions updates at a different time than the value in Account Overview.

The Trading Balance number in "Your Balance" is inaccurate as it doesn't include trading losses. The only thing it represents is the value of your original position which doesn't tell you anything about your leverage ratio, margin required, or actual position.

Ichthyo

hero member

Activity: 602

Merit: 500

Quote from: xeverse on November 24, 2013, 03:30:20 PM

The current implementation of the stop orders
doesn't allow to protect profit?

typically you'd either use a limit order above current market spread, at the point where you plan to take profit, or you use a "trailing stop" with a given relative distance. The trailing stop will be pulled upwards when the market rises, but remain at a fixed level, when the market falls, so it becomes a stop order eventually. Note: the value entered for trailing stops is a relative value, e.g. 3 means 3$ below current selling price.

Be forewarned though, trailing stops are especially hard to set right.
Either they trigger too early (caused by a small jerk downwards, before a huuuuge rise upwards), or they cause losses when set too far away.

P.S: obviously everything in reversed direction when you're short

xeverse

full member

Activity: 124

Merit: 100

The current implementation of the stop orders
doesn't allow to protect profit?

Is this correct?

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: unclescrooge on November 23, 2013, 02:28:24 PM

Quote from: Spaceman_Spiff on November 23, 2013, 11:06:12 AM

Hey Raphy

Any word on how the migration of the system is going?
And is this the front end or the backend that is being adapted?

Thanks

Hello,

It's the backend side that is worked on. The last few days should have been better though (if you can confirm), and in the new few days it will be even better. The migration will been more progressive, and if there is any downtime you will be informed in advance by email.

Thanks for the update

nrd525

legendary

Activity: 1870

Merit: 1023

Renaming buy/sell to short/long is a great idea!

wilfried

sr. member

Activity: 288

Merit: 250

ManualMiner

plz, dont forget to put that claim button on the classic interface, as i will never voluntarily switch to the new interface. anyone else?

LOADING.READY.RUN

full member

Activity: 133

Merit: 100

Quote from: Ichthyo on November 21, 2013, 11:32:06 PM

Quote from: LOADING.READY.RUN on November 21, 2013, 08:39:17 PM

My margin position is between 5-10% profit and I keep receiving them every half hour.

Just for sake of completeness (you are probably aware of that): the margin warning / margin calls are not directly linked to the possible unrealised profit for your position. Rather, they are related to the current value of your collateral (your "margin balance") in relation to the amount of money you actually need to keep your position covered. Of course there is an indirect connection (insofar you need more money to keep an loosing position alive).
[...]
Bottom line: if you think these warning mails are false alarm, I'd recommend that you just check the current numbers in your account manually to verify that you have actually more than the minimum reserve (which is 10% for 1:1 and 13% for 1:2.5) above what is necessary to cover your position

Ok, thanks for the long explanations. Yes, I still think it's a false alarm: Bitfinex showed me even a positive tradable balance larger than my margin balance, so yes, enough safety here.

Wassupia

member

Activity: 106

Merit: 10

1)issue

Quote from: Wassupia on November 18, 2013, 11:57:41 AM

Quote from: Progressive on November 18, 2013, 11:53:17 AM

Quote from: Wassupia on November 18, 2013, 11:42:41 AM

3224735 BTCUSD Market -1.0 -1.0 $0.0000 $561.0000 BFX 4 minutes ago Executed @ 561.0(-1.0)
3224728 BTCUSD Market 1.0 1.0 $0.0000 $588.5000 BSTP 5 minutes ago Executed @ 588.5(1.0)
What is this? The rates should be switched at time of writing? i dont get it.
Edit: now all bitstamp asks are gone. I lost 30 bucks here. Was is my fault?

Another batch of USD arrived to bitstamp and was immediately used to buy bitcoins. Traders at bitfinex are bullish so the price at bitfinex's inner exchange is higher.

you don't get it, I sold at bfx and bought at stamp.

I lost 0.05btc, still want an answer. It occured right after bfx went back online that day.

2)Liquidity
If you'd slightly decrease/ (increase) the fees for selling/ (buying) on stamp, the funds on bitstamp might not get depleted as fast. No idea though how big the increase/ decrease has to be for a noticable difference.

3)claim feature
Shouldn't it be in the fee table?
Why 2 x 0.35% and not 2 x 0.15%? Sometimes the spread on BFX is small enough so that 'keeping your coins' is cheaper when closing the position and buying again. Or if you have the cash you can buy your own long position buy placing a buy on exchange and a sell on trading with the same price.

Thanks.

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