I wrote him a few months back to ask him to do a series on bitcoin. Salman seemed like the perfect guy for this. Really glad he did it.
You didn't even read the thread or watch the video! The voice is clearly not Sal. True, I was at work, so I didn't have the time to watch it. |
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I wrote him a few months back to ask him to do a series on bitcoin. Salman seemed like the perfect guy for this. Really glad he did it.
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Chart time!  lol  |
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I'm not a trader at all, but it seems to me that these numbers can be calculated already when opening a position... maybe they can be displayed too?
Something like "with your current funds of x USD, your position will trigger a margin call at y and be closed at z".
Could be the case that this is either already visible or common knowledge to traders that they are expected to calculate that themselves but it might help less experienced ones to know what's going on...
true, that would be a handy feature. |
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Hiya Bitfinex crew, could you address my previous question? I want to know to what extent keeping funds at bitfinex can be considered 'banking diversification' to my fiat at gox. Thanks PS: I was wondering where bitfinex keeps its fiat money. Is it all on a mtgox (and recently a bitstamp) account?
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Nonsense. As others have said, it is not a zero sum game.
Those that don't understand the essence of free trade, which is individuals performing an exchange which enhances the value proposition of both, need to meditate on things a little more.
This. |
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Speaking of bugs, there's one little thing that annoys me every day (aside from the lack of auto notify  ). Sometimes (often) if you put up money to lend, you choose (for example) a rate of 100%, but it actually pops up as 101%. It doesn't matter what number you choose, it very often increments it by 1. Today I put some BTC up at a rate of 7%, and it popped up as 8% (I intentionally wanted it lower than the variable, so this was no good). Later on I tried it again and this time it decided to add it as 7% properly  Not sure what's causing it (some sort of rounding weirdness where there doesn't need to be rounding?), but if you could take a look that'd be awesome Thanks! Hi Simon, If you're talking about the display in the offers table, it is always rounded at the upper percent to compact a little bit the tables. But your offer should come with 7% in your own table (unfilled demands/offers). Raphael My lending offers also typically add 1%, don't know how this is 'rounding' as I give round numbers to start with. (or maybe thats not really true because of binary <--> decimal systems?) It doesn't really bother me, it just looks a bit weird. PS: I was wondering where bitfinex keeps its fiat money. Is it all on a mtgox (and recently a bitstamp) account? |
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They have their hands full. It 'll turn up.
To the bitcoin-central people: thanks for refunding customers. I hope you figure out a really safe and reliable system. We need good exchanges.
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The headline for this topic is a bit unfair. There is nothing in this quotation that suggests Paul was slamming bitcoin. He says he has reservations (fair enough) but that it has emerged in a free market and should not be regulated. Nothing to complain about there.
Agreed. Besides, did we really expect an almost-80-year-old to immediately jump on board of a cybercurrency? |
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My sepa wire came through today, after a week (felt longer, but thats what the log says and I have a terrible sense of time ). |
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I'm actually with you. Pay no attention to the diluted bulls: they have to keep dreaming, or they will through themselves through a window.
Bitcoin will hit $35-47 by the end of the week, with a MASSIVE sell off this weekend. Price will go to $5.
Bulls are diluted now? I though only fiat was being diluted... |
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To be honest it seems there is pretty good reason not to trust bets of bitcoin.
They declared a bet with hundreds of btc wagered as a draw when it was clear that BFL hadn't shipped any product. They claimed the bet terms were ambiguous, why was the bet accepted in the first place then?
I have also lost out on a decent amount of bitcoins on another bet that was made a draw, and although I didn't agree with the way they handled things, I can understand why they did it. You have to remember that they lose out on a lot of profit on these bets when they call it a draw. Yes it is possible that they themselves were on the other side of the bet, but I think it is much more likely that now and then a bet was less clear than they thought it was, and they make it a draw if they feel that is the correct thing to do. It's harder than you think to make things unambiguous. So they still have my trust. |
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I doubt that, he's probably as close to a true bear as it can get.
Ever looked at his site?
He's back to deliver the I told-you-sos
So he left at $5 and came back to do a bear-victory dance at $95 ? No he is going to tell us the price gonna tank to below USD 0.06 this time.  |
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Glad to see him back! As I recall, he timed things almost exactly right and did his major buy-in at around $2/BTC. I think he let this little tid-bit go, but could be remembering wrong. That he's back would indicate to me that he's back in buying mode. Whether he capitalized at 100x is unknown. I would not doubt it since his timing seems unusually good. I doubt that, he's probably as close to a true bear as it can get. Ever looked at his site? He's back to deliver the I told-you-sos So he left at $5 and came back to do a bear-victory dance at $95 ? |
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Glad to see him back! As I recall, he timed things almost exactly right and did his major buy-in at around $2/BTC. I think he let this little tid-bit go, but could be remembering wrong. That he's back would indicate to me that he's back in buying mode. Whether he capitalized at 100x is unknown. I would not doubt it since his timing seems unusually good. You mean the guy who went running around telling everyone it was a Ponzi scheme actually bought in? Wow, just wow... |
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Once again the term 'shorting' gets misused by talking about simply selling your assets, instead of the real term which implies borrowing an asset you don't own from somebody else...
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On the other end we need to learn from what happened and after a long skype meeting with our "deep pocketed" Hong Kong financial investors (that hate losing money more than I do) we decided to implement the following rules:
1) Market is too volatile at the moment, therefore maximum leverage of 1:5 will be temporarily suspended. Only 1:2.5 leverage will be possible starting from friday the 12th of April 00.00 GMT. Therefore all traders using 1:5 should calmly wind up their positions, they have plenty of time to do that.
All 1:5 positions not liquidated by the deadline will get into forced liquidations until the ratio 1:2.5 is reached.
2) We will soon create 2 different lending options. Insured ones and non insured ones. The lender that choses to be insured will not lose any money in case his borrower can't be liquidated in time because of MtGox malfunction (re-quote or lag). The lender that doesn't choses to be insured will have to face the hard reality of life and eat a loss if a phenomenon like the one of yesterday will repeat (from 260 to 105 and no visibility where the market stood). Bitfinex commission on interest for non insured lenders will remain unchanged at 10% while the insured one will be 30%. It's up to you to make the right choice, whether sleep safe but make a little less (still a helluvalot ! ) or to risk and boogie when the sea gets rough.
Or as they say in France: faites vos jeux!
For the few that will consider 30% too high we reserve the right to take down the commission on insured lending once this proves to be too conservative.
Please try to understand we are in unknown waters and we are just trying to make things work.
Makes sense to me. Thats why I proposed to raise the trading fees in the past, you need bigger profit margins to counter the risk and losses, especially when volume and volatility is picking up. Hope this will allow bitfinex to build a decent 'warchest reserve'. SatoshiDice operated at a loss too at the start... |
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I am still mad at myself for not taking more profit...
Could have bought so much more coins if I hadn't been so greedy to think I could predict the top again.
Ah well, at least I still have a bit of profit, condolences to the burned newbies out there...
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My my, quite a sell-off this. Wish I had been smart enough to sell some today. Luckily enough my failed dip-trading for 10 coins from yesterday still paid off a little (but peanuts compared to the swings this market is having).
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