Hi guys,
I realise the "no reserve" status is not clear, so here is what I answer to a user by email, hope it makes more sense:
"When you open a margin trading order, you borrow money from depositors (even if you have money in your wallet). So there needs to be usd available from depositors (for long position). You can see if there is money available in this table (Credit available) on the margin page:
If you see 0 for long position, that means your orders won't be executed until there is money available (hence the "NO RESERVE" status. I updated the FAQ to explain that.
If you want to buy bitcoins, you can transfer money to your exchange wallets from the "Manage wallets" page (right menu), then use the "Exchange' page (link on the top menu), There you will be able to use your own money and buy bitcoins no matter what.
Why is that? Because margin trading only use borrowed money (leverage order), so you don't actually use your balance, but money from lenders."
On top of Myself answers, here are mine:
Q: Why doesn't my order shows on mtgox orderbook?
While it is considered in the future, for now your oders stays in the internal orderbook and is like an "hidden" order for mtgox: it will be executed only if the price hit the order limit price (and providing there is fund to leverage it).
A: Is it the bitcoinica clone?
Well bitifnex is inspired from bitcoinica, but it is really more advanced and does nto work the same at all (we don"t hedge positions like bitcoinica, we don't execute orders like bitcoinica, the money is really safe with some advanced securty feature like a watcholy wallet,...). And the internal code is really different, as you can guess from the features that bitcoinica never offered.
Final word:
We need depositors! People are willing to pay over 20% a year to open position on bitfinex! Take advantage of that and invest your sleeping usd and btc on bitfinex deposit wallets. You'll earn a great interest rate (over 20% a year for usd deposit) How to do that: when you have deposited money on Bitfinex, go to the "Manage wallets" page, transfer what you want to your deposit wallet and lock it for the period you want. You then earn interests credited every day.
If you have any question, Myself and me are available. Happy trading and may the bears win... or the bulls
