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

[realcoin]

Hello,

as I remember, since this week I dont get to the https://www.bitfinex.com/ website!



Why?
Thanks.

[SebastianJu]

What kind of indizes are useful for finding out in which direction the market will go? I thought maybe the amount of coins traded on exchanges in one or the other direction. But then... it might not work when the orderbook is empty on one side because the course came from that direction.

Some say bitcoin can be predicted with charts relatively good. I dont see that so much. I think especially the bitcoin price includes much emotions since its not the highly educated chart analyst who trades mostly, so that the rules apply as a self fulfilling prophecy but its more noobs in that area that move the price.

So what do you look at when trading?

[Bagpipe]

Can anybody explain why after I place 4 consecutive 2 btc market buy orders I end up with "0.13724734" BTC?!?!?!?!?
I expected 8. All 4 orders passed successfully.

Also, why does market order ask me if I want to place order over/under ticker price?!!?!?

Why is enetering market orders such a pain? maany times happened that I end up with limit orders in the orderbook while entering market orders.

This all has cost me money. Do you have any logical explanation?

In the fiat world this usually happens on platforms run by market makers and never on an exchange. A market order on any exchange ALWAYS executes. Period. Its a different matter it may execute 1% away from the last tick. But it always executes.  

The obvious reason is there are no other side orders placed by other traders and the market maker is not willing to take up an opposite position at that time. Basically a liquidity problem manifested through these 2 modes. If there is a 3rd way such a thing can occur please free to add.

@Bagpipe nice to learn about your experience.

No, market order does NOT always execute, it is horrific, frustrating experience @mjr!
Imagine you hold long 8 BTC and sell 3, by 3 1-btc market orders, how many do you have now?
I can tell you: 6.97191264

[Bagpipe]

What kind of indizes are useful for finding out in which direction the market will go? I thought maybe the amount of coins traded on exchanges in one or the other direction. But then... it might not work when the orderbook is empty on one side because the course came from that direction.

Some say bitcoin can be predicted with charts relatively good. I dont see that so much. I think especially the bitcoin price includes much emotions since its not the highly educated chart analyst who trades mostly, so that the rules apply as a self fulfilling prophecy but its more noobs in that area that move the price.

So what do you look at when trading?

It needs work, learning a lot, experience, understanding, bitcoinwisdom, good health, strong nerves, good planning and money and time management and luck.

It always helps to be in phase with what is happening.

ut there is no better way to learn by doing. In a year you can be a trader. Prepare your entry fee.

edit; With increasing experience you can tell when, where and how is a move going to happen. Acting on it is harder. Three things stay in your way: your hesitation and decision making, your courage and your exchange. The exchange is going to get in your way in major and unpredictable ways throwing obstacles under your legs, yuo have to click here, click there and even then the order does not pass... so good planning is advised. Especially for the beginners.

P.S. all good traders paid their initiation fees, except Warren Buffet. Warren Buffett does not trade. He buys.

[realcoin]

Hello,

as I remember, since this week I dont get to the https://www.bitfinex.com/ website!

solved
But I wonder, if I was the only one who had no access to the website for days?

[SebastianJu]

What kind of indizes are useful for finding out in which direction the market will go? I thought maybe the amount of coins traded on exchanges in one or the other direction. But then... it might not work when the orderbook is empty on one side because the course came from that direction.

Some say bitcoin can be predicted with charts relatively good. I dont see that so much. I think especially the bitcoin price includes much emotions since its not the highly educated chart analyst who trades mostly, so that the rules apply as a self fulfilling prophecy but its more noobs in that area that move the price.

So what do you look at when trading?

It needs work, learning a lot, experience, understanding, bitcoinwisdom, good health, strong nerves, good planning and money and time management and luck.

It always helps to be in phase with what is happening.

ut there is no better way to learn by doing. In a year you can be a trader. Prepare your entry fee.

edit; With increasing experience you can tell when, where and how is a move going to happen. Acting on it is harder. Three things stay in your way: your hesitation and decision making, your courage and your exchange. The exchange is going to get in your way in major and unpredictable ways throwing obstacles under your legs, yuo have to click here, click there and even then the order does not pass... so good planning is advised. Especially for the beginners.

P.S. all good traders paid their initiation fees, except Warren Buffet. Warren Buffett does not trade. He buys.

Thanks for the tip. As of now my biggest hurdle is the emotion. Its hard to hold back if you feel there are chances that go away if you dont act. I already paid for this. At the moment i often force me to do something different just do learn to not let emotions come into way. Its harder the more youre involved. Its like addiction at some point. But i think decisions on that should be made with only a little bit emotions involved and very much facts instead.

[Bagpipe]

So what do you look at when trading?

Or: the highlighted amount of coins you are going to buy or sell, say "1", yuo redo into "2" and after clicking "buy" or "sell" you discover that 21 coin order was executed. And you are rightfully pissed, because that is NOT what you intended to do.

You need to be prepared for that as well.

[SebastianJu]

So what do you look at when trading?

Or: the highlighted amount of coins you are going to buy or sell, say "1", yuo redo into "2" and after clicking "buy" or "sell" you discover that 21 coin order was executed. And you are rightfully pissed, because that is NOT what you intended to do.

You need to be prepared for that as well.

Yes, that might happen if in haste. And i think the bitfinex interface isnt the best. Its only partly automated by javascript. You have to reload the whole website in order to know if your order was filled or is still valid and so on. Its not really helpful if seconds count.

[Bagpipe]

So what do you look at when trading?

Or: the highlighted amount of coins you are going to buy or sell, say "1", yuo redo into "2" and after clicking "buy" or "sell" you discover that 21 coin order was executed. And you are rightfully pissed, because that is NOT what you intended to do.

You need to be prepared for that as well.

Or... you see taht yuo have last 5 seconds to make a saving sell order, and after you press "sell" on a market order, a message that says: "do you really want to sell under ticker price?" appears, halting you in tracks from what you wanted to do, a market sell order that is TOTALLY unrelated to ticker price.

You need to be prepared for that as well.

[Este Nuno]

Hi, I just made an account and I was wondering if I needed to verify my account or not. I just plan to deposit BTC and withdraw in BTC as well, no fiat necessary. I'm worried about my account getting locked or something.

[8fold]

I keep on getting disconnected/ logged off from web platform. This is occuring pretty ofen, sometimes right after i Login. I am using 2FA, and have been using it since it was implemented. No one has access to my computer, and security is a priority of mine.
Is anyone else experiencing this?

[SebastianJu]

Im still not used to the thinking pattern you have to use with margin trading. I mean when you trade bitcoins then you have offers to buy bitcoins and offers to sell bitcoins. Its easy to get. But with margin trading you have something different. The price of the product is practically the same like the bitcoin. Though when you buy the product you pay more the higher the price of the item is. Though its the same when you buy the product in the negative and when you buy it in the positive.

Then there is only one orderbook. Bids and Asks. If you sell a margin then your order is put onto the ask side? when the price is lower or you buy into the bid side wenn the price is higher. And when you buy a margin then its the opposite. Then you have to observe the real bitcoin price. But still you pay the same price for margin sell and buy.

Its quite confusing even after 2 days. And since the layout isnt updating fast, it might be that i mixed the orderbook sides. I dont even know if i should stay close to the ask or the order sides price when selling or buying with a limit and not wanting to buy into existing orders.

Its hard to see it as one product only. Maybe it takes time to get used to this thought pattern.

The total lack of a transaction history makes it hard to see what happened too. I only see the endprice but i dont know at which price things sold, what fees applied and so on. I think for an exchange this old its something thats not cool. Especially when i think about all the fees that bitfinex earns already only with margin trading.

I keep on getting disconnected/ logged off from web platform. This is occuring pretty ofen, sometimes right after i Login. I am using 2FA, and have been using it since it was implemented. No one has access to my computer, and security is a priority of mine.
Is anyone else experiencing this?

I only had this once today. And the page was opened for hours.

[atlosas]

Hi, I just made an account and I was wondering if I needed to verify my account or not. I just plan to deposit BTC and withdraw in BTC as well, no fiat necessary. I'm worried about my account getting locked or something.

You don't need to verify if you don't deposit/withdraw usd.

[Bagpipe]

Hi Bitfinex, just read your entire forum thread. This took a long time (particularly the discussions about FRR!). Just wanted to say well done on running such a professional exchange, which has transitioned from a small project to become the largest BTC/USD exchange in the world. I have only been using your site for a short time, but so far I am very impressed. I do have a feature request for you.

Feature request: - optional increased security on withdrawals. When withdrawing I want to be asked for a google auth code AND an sms code AND email confirmation AND a secondary password used only for withdrawals. Some other exchanges already do this, including your main Chinese competitor. This feature will reduce account hackings and increase people's trust in your exchange. I recommend making the increased security features optional, so that people who are happy with the current security measures can continue unaffected.

Why don't you ask for social security number, credit card number and passport number as well? That should REALLT boost the security manyfold times!

if I follow your logic correctly.

[Bagpipe]

I keep on getting disconnected/ logged off from web platform.
Is anyone else experiencing this?

Yes, sometimes. I/others believe it is related to internet traffic/proxies. (cloudflare and whatnot)

[Bagpipe]

Your margin is in danger! Your positions will be closed when your net value falls below maintenance margin. Please either make deposit now or liquidate some positions yourself.

• [/glow]
  
  the
• button has no function, eithe remove it from the code or make it work, please?

[ghibly79]

Pls implement a cancel withdraw button: sometimes witdraws get stuck for hours and it would be nice to be able to cancel them and resend the coins from another wallet, when you are sending to someone else who is waiting (or worse if you send to the wrong address and immediately realize).

[mjr]

Hi Bitfinex, just read your entire forum thread. This took a long time (particularly the discussions about FRR!). Just wanted to say well done on running such a professional exchange, which has transitioned from a small project to become the largest BTC/USD exchange in the world. I have only been using your site for a short time, but so far I am very impressed. I do have a feature request for you.

Feature request: - optional increased security on withdrawals. When withdrawing I want to be asked for a google auth code AND an sms code AND email confirmation AND a secondary password used only for withdrawals. Some other exchanges already do this, including your main Chinese competitor. This feature will reduce account hackings and increase people's trust in your exchange. I recommend making the increased security features optional, so that people who are happy with the current security measures can continue unaffected.

If you email support, we can give you increased security requirements. Some people have asked us to not disable 2FA unless they have a skype call and they hold up their passport. Security is definitely a tradeoff, and each person is going to want either more security or more convenience. Our defaults are based on the necessary amount of security, but for those just as paranoid as us, we are very willing to increase the security level.

[mjr]

Pls implement a cancel withdraw button: sometimes witdraws get stuck for hours and it would be nice to be able to cancel them and resend the coins from another wallet, when you are sending to someone else who is waiting (or worse if you send to the wrong address and immediately realize).

This seems like a good idea. Definitely going into our suggestions list.

[SebastianJu]

Is there really no way to find out for what price last trades where traded? Its hard enough to check when a trade is executed at all since the trades doesnt vanish on its own. But at the end you only have the margin balance. You cant see for what price and which fee the trades happened. I think thats not helpful.