Selling CFDs on 796 xChange in HK. Service has been stellar, but their English is sketchy. No issues at all during this last week. Raking it in. 10x leverage, no 'kill switch' like BFX. I was never able to cover my short Monday w/ BFX ... had to ride that position all week. BS.

Bitfinex isn't the place to short guys, you've had fair warning. BTC spikes 100-200 pts down and they'll flip the kill switch. There are alternatives. I've liked BFX but oddly I've made all my profits on the short side on other exchanges. BS ...

Am I the only short-seller still waiting for fill via E-MAIL from the 'magic platform' that is Bitfinex?

Amidst the Monday sell-off I put in a Market Order Buy-to-Close a short I had placed over the weekend in anticipation of Gox' well telegraphed press release. Anyone with half a clue knows nothing good comes out of Gox. (Yes Mr. CFO, I do have a crystal ball, and from time to time it even works.)

So here's the magic question: How many DAYS does it take to confirm a fill with a Market Order on this platform?

I also tried to cover a short at around $550 ... even a market order wouldn't execute. I guess at Bitfinex one has to wait 3-4 days to get a fill via e-mail. Not a trader's platform, plain enough ...

BFX,

You need to institute circuit breakers. They might look something like this:

Each day breakers are triggered when the market falls 20% (?) from the day's opening price. At any point when the market falls to -20% the minimum ask becomes -20%, fixed for a set period, say 30 minutes. After 30 minutes prices are then free to fall an additional 10% etc.

So take yesterday for example. Assume the opening (12:01am?) market level was $700. So if the market fell, the min ask would be $540. As the market collapsed below that offers would not be accepted below $540 but the system could accept all bids. In this way there is a 30 minute window for trades to be entered/matched in an orderly manner.

You can structure the circuit breakers to try and protect lenders, if that is your aim, but recognize that when you have a policy for managing fast markets, it is very bad form to change the rules on the fly.

Many markets use circuit breakers to positive effect. We are not inventing the wheel.


Today you basically raped traders to protect Bitfinex' lending function. Not sure why any trader would put themselves in that position again. I had submitted a Market Order to buy at about the $550 level ... thanks a lot.

Yes, and because the process can be determined/explained well in advance, traders can plan accordingly.

A small exchange in HK - 796 xChange - allows one to short CFDs on BTC and LTC. Their platform worked perfectly over this last event. Shorting the CFDs offers up to 10x leverage ... if you are insane, lol.

You cannot afford me. Let it be ... before you embarrass yourself further. (Someone with some sense keep this guy away from the keyboards. Lol ....)

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

My market order didn't even execute. Is the whole platform still frozen now? Anybody getting executions at this moment??

Looks like my password was compromised - someone got access to the account and was accumulating BTC in preparation for attempting a withdrawal. No withdrawals were made, but due to buying BTC/LTC during the market decline, my account is down about 5% in value. Clear evidence they were trying to gain authorization to make a withdrawal - fortunately that failed.

Not Bitfinex' fault ... but I'd like them to have a look, in case they can spot a pattern across other accounts and/or advise me on improving security.

For the record I've been traveling heavily these past several weeks and logging in at multiple airports / unsecured networks. My password could have been snagged anywhere, in retrospect.

Bitfinex - Please contact me IMMEDIATELY - there is unaccountable activity in my account.

I have 'auto-renew' on, but funds have been sent to the exchange wallet and BTC bought. Also, I couldn't login, had to change the password ... wtf?? Auto-renew is still on, but I'm holding BTC that I never traded ...

It looks like someone was preparing to make a withdrawal .... omg. Damage right now is that I own BTC at a bad price ... but can be reversed. But we need to figure out what has happened ...

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

Hey Mike - my wife signed up with your reference code and has played for several hours. Question:


She built up some wins, and then signed into another game, but the game got disconnected but not at her end ... and she lost her sign in points?? That is how she describes it. She said the game never actually even started before being discontinued. Is there someone/somewhere that she can get the issue looked at? Is the software glitchy? She has played backgammon for years recreationaly and this is something she could stick with if she doesn't get turned off from the get-go.

Is anyone here provide firsthand confirmation re: ability to withdraw fiat from Mt. Gox into a local (Japanese) bank account? What is the experience/service like?


*I've seen it posted on the board that withdrawals to Japanese accounts are seamless, but I'm skeptical ...

Hi Bit Bot ... checking out your service. Website is a little unclear and I'm traveling now so not immediately able to fully test ... but I'll be able in a few days. Questions:

You can pay to a HK bank account? Website appears to suggest you only pay in AUD? Is that accurate?

You also pay to Paypal accounts? My paypal account is US and charges +3.9% for receiving international payments ... you would be making an 'international payment' in AUD to my Paypal account?

I got lots of BTC to sell ... trying to figure out what makes sense ...

Thanks ... makes sense.

Question for the board:

Thoughts on why 'interest rate' on USD 'loans' has collapsed over the last several days?

Have traders simply de-leveraged over the holidays, or is something else going on?


If someone from the BFX team had thoughts/insight on this, and could share, I'd be most appreciative.

Indamuck loves the BFX platform ....

Can someone explain this to me?

All of my funds are currently subject to 'Auto-loan' feature. All funds are currently loaned, except for this one amount:

Unfilled Credit/Demand Offers

Type: Lend Limit
Amount: 19,XXX
Rate/day: Flash Return Rate
Max length: 2 days
Placed: 24 Dec 23:45
Auto-renew: -
Status: Active

It is now 25 Dec at 11:06 ... has this money been 'unlent' for half a day here? Is it currently being offered as a renewal loan to the original borrower, or otherwise why isn't the amount lent yet? It appears the US$19k+ is unavailable to lend because it is currently on offer?

Just trying to figure out out how best to keep my funds busy, and at the best rate. Is this $19k sitting idle for half a day now? How to remedy?

Thanks all! Indamuck looooves BFX - thanks to the team there.

Giancarlo - a few of us haven't received interest payments this last day ... could you comment as to whether there is a systemic problem being looked at or do each of us have to send in a 'help ticket' ??