Question. Can I place...advanced orders on the site without any third party tools? I am talking about margin sell/buy WHEN price goes below(or above) a certain price? And then trail that order.
Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 35. (Read 723861 times)
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
October 24, 2017, 03:12:07 PM
October 24, 2017, 11:01:14 AM
I am a verified US BFX user and I can no longer transfer balances between wallets, loan, or buy/sell crypto.
Last I checked it wasn't November...anyone else having this problem?
Last I checked it wasn't November...anyone else having this problem?
Man just watch ONLY 3 posts above lol !!!
Read more carefully. It is not November 9th.
BFX replied to my support email and said it was a mistake related to the latest fork.
Glad that was an error, i'm not an US customer, and i use real rarely finex, so didn't dig up much on the announcement, as 9th november is the "final" date, could also be that they started blocking trading before that date....
But happy for you that solved....
October 24, 2017, 09:26:38 AM
I am a verified US BFX user and I can no longer transfer balances between wallets, loan, or buy/sell crypto.
Last I checked it wasn't November...anyone else having this problem?
Last I checked it wasn't November...anyone else having this problem?
Man just watch ONLY 3 posts above lol !!!
Read more carefully. It is not November 9th.
BFX replied to my support email and said it was a mistake related to the latest fork.
October 24, 2017, 04:18:10 AM
I am a verified US BFX user and I can no longer transfer balances between wallets, loan, or buy/sell crypto.
Last I checked it wasn't November...anyone else having this problem?
Last I checked it wasn't November...anyone else having this problem?
Man just watch ONLY 3 posts above lol !!!
October 23, 2017, 09:37:57 PM
I am a verified US BFX user and I can no longer transfer balances between wallets, loan, or buy/sell crypto.
Last I checked it wasn't November...anyone else having this problem?
Last I checked it wasn't November...anyone else having this problem?
October 23, 2017, 08:17:21 PM
Hi Bitfinex,
Please consider adding a Datacoin market
More information on the project here - https://bitcointalksearch.org/topic/ann-datacoin-censorship-free-data-storage-2188160
Thank you
Please consider adding a Datacoin market
More information on the project here - https://bitcointalksearch.org/topic/ann-datacoin-censorship-free-data-storage-2188160
Thank you
October 23, 2017, 10:19:08 AM
I guess they will close verified accounts from US customers only and not check/filter based on IP address at all.
For banking you need to verify, and when staying crypto only the heat for them will surely be much lower.
We'll see soon enough.
Ente
For banking you need to verify, and when staying crypto only the heat for them will surely be much lower.
We'll see soon enough.
Ente
October 23, 2017, 02:51:21 AM
If I have done no verification processes on Bitfinex and am from the United States, will my account still get frozen on the cutoff day? I would like to continue just lending on the site, but if they disable my account, I want to make sure I am fully withdrawn by then. Also, what would happen if I still have loaned coins that are out when the cut off date hits?
Officially Bitfinex is requesting all US based customers to withdraw by 9th November. I guess if you were using a VPN then they wouldn't know where you were, but I'm not sure I would want to take that risk.
https://www.bitfinex.com/posts/227
Quote
Announcements > Update: U.S. Individual Users October 16, 2017
This message is further to our announcement of August 11, 2017, with respect to terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform. This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.
All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.
U.S. individuals holding Recovery Right Tokens (RRTs), if any, which relate to the exchange of now-defunct BFX tokens to equity in iFinex Inc., may, starting on October 27, 2017, sell all of their RRTs on the exchange, if they so elect. This is an exception to the general terms of use for RRTs. U.S. individuals are not permitted to buy RRTs during this time period. All terms and conditions relating to the sale of any RRTs remain in full force and effect and are deemed to apply to the sale of any RRTs by U.S. individuals or otherwise. Any RRTs remaining in the hands of U.S. individual verified customers after the November 9th deadline may be sold through Bitfinex on an OTC basis through special arrangement with us.
This message is further to our announcement of August 11, 2017, with respect to terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform. This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.
All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.
U.S. individuals holding Recovery Right Tokens (RRTs), if any, which relate to the exchange of now-defunct BFX tokens to equity in iFinex Inc., may, starting on October 27, 2017, sell all of their RRTs on the exchange, if they so elect. This is an exception to the general terms of use for RRTs. U.S. individuals are not permitted to buy RRTs during this time period. All terms and conditions relating to the sale of any RRTs remain in full force and effect and are deemed to apply to the sale of any RRTs by U.S. individuals or otherwise. Any RRTs remaining in the hands of U.S. individual verified customers after the November 9th deadline may be sold through Bitfinex on an OTC basis through special arrangement with us.
October 23, 2017, 02:34:32 AM
Bitfinex is a criminal company since its inception.
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
Could you link a dozen proofs for starters?
https://medium.com/@bitfinexed/wash-trading-bitcoin-how-bitfinex-benefits-from-fraudulent-trading-8bd66be73215
https://www.youtube.com/watch?v=DcIed4A8NIM
https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
and many others
Conclusion: Bitfinex is a CRIMINAL company and they will be closed soon.
You can say essentially the same about any regulated exchange out there
And I don't necessarily mean Bitcoin exchanges (I don't know how many of them are regulated anyway). Even world-scale exchanges like Nymex have been caught cheating using very illegal practices like front running the orders of their clients (and I don't know what else). They get caught, they get punished, but it is as sure as day that they won't miss a chance to earn a dollar here and there whenever an opportunity arises. People are complaining all the time but things are like they have always been, and will always be like that in the future. Nothing's gonna change
October 22, 2017, 10:05:51 PM
If I have done no verification processes on Bitfinex and am from the United States, will my account still get frozen on the cutoff day?
AFAIK, no. October 22, 2017, 09:18:36 PM
If I have done no verification processes on Bitfinex and am from the United States, will my account still get frozen on the cutoff day? I would like to continue just lending on the site, but if they disable my account, I want to make sure I am fully withdrawn by then. Also, what would happen if I still have loaned coins that are out when the cut off date hits?
October 22, 2017, 03:55:46 PM
Bitfinex is a criminal company since its inception.
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
Could you link a dozen proofs for starters?
https://medium.com/@bitfinexed/wash-trading-bitcoin-how-bitfinex-benefits-from-fraudulent-trading-8bd66be73215
https://www.youtube.com/watch?v=DcIed4A8NIM
https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
and many others
Conclusion: Bitfinex is a CRIMINAL company and they will be closed soon.
October 22, 2017, 12:14:57 PM
Bitfinex is a criminal company since its inception.
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
Could you link a dozen proofs for starters?
October 22, 2017, 10:51:45 AM
Bitfinex is a criminal company since its inception.
You can find a lot of proofs about that. How can even the sheep use such company, it's a mystery
You can find a lot of proofs about that. How can even the sheep use such company, it's a mystery
Cool story, bro.
October 22, 2017, 10:46:51 AM
Bitfinex is a criminal company since its inception.
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
You can find a lot of proofs about that. How can even the sheep use a such company, it's a mystery
October 22, 2017, 06:07:50 AM
...
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
If I understand the article correctly, the author is suggesting that Bitfinex themselves - or at least people
affiliated to the management of Bitfinex - are the people doing the wash trading.
Therefore these are not your regulars customers that are subject to the standard Bitfinex
fee structure.
However, wash trading is not that expensive even for regular customers if you take a look at the Bitfinex fee structure:
https://www.bitfinex.com/fees
After trading more than 7,5 million $ in the last 30 days, you have already reached a tier
that allows you to pay nothing in Maker fees. This implies that you would basically be only paying
the commission once (not twice as you said) for fulfilling your own order.
If you get back to my initial conjecture, you can easily expect that someone affiliated with Bitfinex management in some
way would probably be able to get an account that doesn´t pay any fees at all, which would make
wash trading essentially free.
I´ve been using Bitfinex for a long time, but I still don´t trust them 100 %. There is a reason why exchanges
like Bitstamp have restricted themselves to a few cryptocurrencies while Bitfinex has been busy adding shitcoins like
Eidoo or Aventus.
What's the point of that kind of trading, even without fees?
October 22, 2017, 05:56:51 AM
...
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
If I understand the article correctly, the author is suggesting that Bitfinex themselves - or at least people
affiliated to the management of Bitfinex - are the people doing the wash trading.
Therefore these are not your regulars customers that are subject to the standard Bitfinex
fee structure.
However, wash trading is not that expensive even for regular customers if you take a look at the Bitfinex fee structure:
https://www.bitfinex.com/fees
After trading more than 7,5 million $ in the last 30 days, you have already reached a tier
that allows you to pay nothing in Maker fees. This implies that you would basically be only paying
the commission once (not twice as you said) for fulfilling your own order.
If you get back to my initial conjecture, you can easily expect that someone affiliated with Bitfinex management in some
way would probably be able to get an account that doesn´t pay any fees at all, which would make
wash trading essentially free.
I´ve been using Bitfinex for a long time, but I still don´t trust them 100 %. There is a reason why exchanges
like Bitstamp have restricted themselves to a few cryptocurrencies while Bitfinex has been busy adding shitcoins like
Eidoo or Aventus.
October 22, 2017, 03:20:05 AM
This is nothing more than FUD.
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
Yeah, what's the point of doing that?
I agree that this is no more than FUD
Regarding what the fudster is trying to make it look like, he simply either doesn't understand what wash trading means or deliberately tries to confuse the readers. Basically, wash trading is a kind of arbitrage (or rather market manipulation), and it makes sense to employ it at different exchanges (I guess its name comes from the proverbial "wash, rinse, repeat"). In this way, as others have already pointed out, it is a meaningless endeavor if done at the same exchange which leads only to losing money on commissions. On the other hand, exchanges themselves may use this tactic to boost their trading volume figures
BFX would get higher volume numbers, but they could just make them up anyways, since trades are not publicly verifiable.
That's a good point if they wanted to fake volume there are far easier ways to do it.
I would agree that the whole thing doesn't make any sense. What I believe the whole story is really about is that Bitfinex doesn't have any protection to stop a trader accidentally trading with themselves. In futures trading, a trader with a large account can place limit sell orders above the current price and then let rip with a very large buy market, thus forcing shorts to buy to cover and triggering stops. His sell orders are already in the market as this is going to happen far too quickly to place them after. If there are not enough stops there the trader could accidentally trade with themselves and pay extra commissions. Futures exchanges would reject these trades automatically.
I really don't think it matters that Bitfinex doesn't automatically reject these trades because this style of scalping is not possible on crypto markets because the commissions are too high and spreads are often too wide.
October 21, 2017, 05:10:28 PM
Wash Trading Bitcoin: How Bitfinex benefits from fraudulent trading
I don't really get the benefit.BFX would get higher volume numbers, but they could just make them up anyways, since trades are not publicly verifiable. The trader(s) themselves would rather lose money, unless they have so much of it, that pumping and dumping the BTCUSD price is possible - and then again that would probably be the better strategy.
October 21, 2017, 05:11:25 AM
This is nothing more than FUD.
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
A customer would gain nothing by wash trading, would end up paying two commissions, and the market would be unaffected.
Yeah, what's the point of doing that?
I agree that this is no more than FUD
Regarding what the fudster is trying to make it look like, he simply either doesn't understand what wash trading means or deliberately tries to confuse the readers. Basically, wash trading is a kind of arbitrage (or rather market manipulation), and it makes sense to employ it at different exchanges (I guess its name comes from the proverbial "wash, rinse, repeat"). In this way, as others have already pointed out, it is a meaningless endeavor if done at the same exchange which leads only to losing money on commissions. On the other hand, exchanges themselves may use this tactic to boost their trading volume figures
Jump to: