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

[atlosas]

Does bitfinex work well on android phones?

[slacknation]

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.

history->order history, is it not there?

[mjr]

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.

I don't understand. If you are talking about the general "last price", it is displayed at the top of the page, as well as in the tab. If you are talking about your own individual trade, you have history for all orders you placed, and trades...so I don't know exactly what the question is. If you can give me examples, I'll be glad to help.

[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.

I don't understand. If you are talking about the general "last price", it is displayed at the top of the page, as well as in the tab. If you are talking about your own individual trade, you have history for all orders you placed, and trades...so I don't know exactly what the question is. If you can give me examples, I'll be glad to help.

Now i found it. I simply didnt looked in the settings menu. 

[SebastianJu]

Is there a way to disallow taker orders unless i click on close position? I always use limit orders but sometimes it happens that i end up with the taker fee. Most probably because the pricetags changed in the time i sent my order. I would like to prevent this.

[Shallow]

I have some questions about margin trading amounts:

I have $4300 USD in my trading account, hence $4300 margin balance. With 3.3:1 leverage, I should have a tradable balance of $14190. OK.

I have an active long position on BTC. Amount: 50, base price: $210.50. So this means I've used $10525 of my tradable balance on this position.

As the maintenance margin is 15%, I need to keep 15% of $10525 -- $1578.75. This matches the required margin.

Ignoring unrealized swap. It's less than a dollar.

So:

14190 - 10525 - 1578.75 = 2086.25

This should be my remaining tradable balance, right? But it's only $1707.

Where did $380 go? And why is my tradable balance varying with every refresh? My maintenance is $1578.75, and that is static. My USD balance is $4300, and that is static. My already-borrowed amount of $10525 is static. Everything's static, how is my tradable balance fluctuating?

[SebastianJu]

I have some questions about margin trading amounts:

I have $4300 USD in my trading account, hence $4300 margin balance. With 3.3:1 leverage, I should have a tradable balance of $14190. OK.

I have an active long position on BTC. Amount: 50, base price: $210.50. So this means I've used $10525 of my tradable balance on this position.

As the maintenance margin is 15%, I need to keep 15% of $10525 -- $1578.75. This matches the required margin.

Ignoring unrealized swap. It's less than a dollar.

So:

14190 - 10525 - 1578.75 = 2086.25

This should be my remaining tradable balance, right? But it's only $1707.

Where did $380 go? And why is my tradable balance varying with every refresh? My maintenance is $1578.75, and that is static. My USD balance is $4300, and that is static. My already-borrowed amount of $10525 is static. Everything's static, how is my tradable balance fluctuating?

Maybe because you have a long position whose worth is changing. So you get in debt or get profit from it. Thus changing your further possible tradable balance. I believe the tradable balance isnt changing when you dont hold a position.

[Shallow]

Maybe because you have a long position whose worth is changing. So you get in debt or get profit from it. Thus changing your further possible tradable balance. I believe the tradable balance isnt changing when you dont hold a position.

That was what I thought, if they leverage was applied later and required margin was not reflected in tradable balance. but the numbers do not match either.

$4300 in margin balance
-$609 in unrealized loss and swap
= net value of $3691

x leverage of 3.3
= leveraged balance of $12180

- $10525 already used in position
= $1655 tradable balance

Tradable Balance shown on site: $1777.2

There is a $122 difference, and rounding can't account for that much (I've rounded 14 cents, even after 3.3x that's just $0.46).

So.. why do I have an extra $122 in tradable balances?! Or a missing $380 if it's the other method?

[Timetwister]

BTC lending rates going down again. That sucks after buying more expensive BTC to lend them...

[Walsoraj]

mjr,

How much of BFX's fiat is stuck in a frozen Egopay account?

[gog1]

mjr,

How much of BFX's fiat is stuck in a frozen Egopay account?

I doubt a whole lot - Egopay has not been withdrawal option for a while already and amount listed there were 'trivial' compare to the total loan book

[jiggytom]

having trouble logging in with 2fa....

Incorrect one-time token. Please try again.

Anyone else? I tried numerous times on PC and phone.

[01BTC10]

having trouble logging in with 2fa....

Incorrect one-time token. Please try again.

Anyone else? I tried numerous times on PC and phone.

It works fine for me.

[jiggytom]

having trouble logging in with 2fa....

Incorrect one-time token. Please try again.

Anyone else? I tried numerous times on PC and phone.

It works fine for me.

nevermind...somehow my phone uncheck "automatically sync time"...all good now.

[Shallow]

Maybe because you have a long position whose worth is changing. So you get in debt or get profit from it. Thus changing your further possible tradable balance. I believe the tradable balance isnt changing when you dont hold a position.

That was what I thought, if they leverage was applied later and required margin was not reflected in tradable balance. but the numbers do not match either.

$4300 in margin balance
-$609 in unrealized loss and swap
= net value of $3691

x leverage of 3.3
= leveraged balance of $12180

- $10525 already used in position
= $1655 tradable balance

Tradable Balance shown on site: $1777.2

There is a $122 difference, and rounding can't account for that much (I've rounded 14 cents, even after 3.3x that's just $0.46).

So.. why do I have an extra $122 in tradable balances?! Or a missing $380 if it's the other method?

Bump..

[Bagpipe]

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.

I don't understand. If you are talking about the general "last price", it is displayed at the top of the page, as well as in the tab. If you are talking about your own individual trade, you have history for all orders you placed, and trades...so I don't know exactly what the question is. If you can give me examples, I'll be glad to help.

Ah, I see you don't understand how Bitfinex display works!
Let me explain: The top price has no relevance to recent movements, it may update once in a minute and sometimes it stays at old number for 10 hours.

If you thought that if you have an order to sell for 209 and the price in the ticker goes to 210, do not expect your order to be filled! Because what is in the ticker may have happened long ago; or; your order may get into queue in the far future!

Let me explain once more on a practical example!

I put a MARKET order for 1 BTC sell during peak hour. (not the crash) That MARKET order was unfilled even after I refreshed page and was unfilled for about TEN SECONDS, so the relevance of what ANY of the price displays displayed was NONE. SebastianJu imagines that whatever his computer screen displays has been truth right now and not in some faraway point i the past. He asked if he could possibly be INSTANTLY notified of his order passing trough, so he can continue with the next trading step. I have answer for him: no, Bitfinex does not support that feature. No, bitfinex is not able to meaningfully support that feature. No, bitfinex does NOT have fixed point decadic system prices. No, bitfinex does not do ranged grouping or orders to speed up order matching. No, bitfinex does not do instant market orders. No, bitfinex does not have the software skills to implement any of the above.

[mjr]

"No, bitfinex does not do instant market orders."

This impossible due to the quantum nature of the universe...time exists, and what happens "instantly" on your screen cannot possibly be known "instantly" on our server. So, just to get that out of the way, there is no way that two events can happen at the exact same time.

That being said, yes, if you send a market order, depending on when we receive it, how many orders are ahead of you in the queue, and how those other orders affect the state of the order book, you might not get filled. Unfortunately, it is not even theoretically possible for us to maintain synchronization between your computer and the state of our orders in a real time fashion, that doesn't exist. It takes time to notify you of changes, and during that time, other changes can occur. It also takes time for you to send an order, and when you click the send button, you are already operating under assumptions that may no longer be true. During the transit time of your order, there could be even further changes.

Luckily, these are just theoretical problems, in practice we handle 100's of thousands of orders and are able to fill people in the way they would expect.

You yourself pointed out that you placed this order during "peak hour", which means that your perception of the state of the book was not only out of date, but you would probably have to wait until the queue of orders before you had been handled. If you place a market order, you will be filled at the best available price AT THE TIME WHEN YOUR ORDER IS HANDLED, not when you press the "BUY" button. Now, we are currently (as in, at this moment) working on the upgrade to our backend matching engines, but there is NO matching engine with infinite capacity, and if it is over capacity, you would be in the same exact situation. Until it can handle that given order, you will remain "unfilled".

[mjr]

mjr,

How much of BFX's fiat is stuck in a frozen Egopay account?

We are going to release an official announcement about that, but as stated by others, this didn't really affect us. We had very little usage of egopay, and what was used was very small. No user should notice any problems on our system due to this, but we have disabled that option for withdrawal and deposit.

[mjr]

I have some questions about margin trading amounts:

I have $4300 USD in my trading account, hence $4300 margin balance. With 3.3:1 leverage, I should have a tradable balance of $14190. OK.

I have an active long position on BTC. Amount: 50, base price: $210.50. So this means I've used $10525 of my tradable balance on this position.

As the maintenance margin is 15%, I need to keep 15% of $10525 -- $1578.75. This matches the required margin.

Ignoring unrealized swap. It's less than a dollar.

So:

14190 - 10525 - 1578.75 = 2086.25

This should be my remaining tradable balance, right? But it's only $1707.

Where did $380 go? And why is my tradable balance varying with every refresh? My maintenance is $1578.75, and that is static. My USD balance is $4300, and that is static. My already-borrowed amount of $10525 is static. Everything's static, how is my tradable balance fluctuating?

Maybe because you have a long position whose worth is changing. So you get in debt or get profit from it. Thus changing your further possible tradable balance. I believe the tradable balance isnt changing when you dont hold a position.

This is exactly what is going on. Your tradeable balance changes based on not only the amount in the wallet, but also based on the unrealized P&L. This applies to all the rest of the calculations, so it can get pretty complex. Every moment when the book changes (best bid or ask) your tradeable balance will also change, because if you have a position, your P&L changed.

Now, because the book and your balances are not refreshed in the same way (we use websockets for the book, more on that to come), you may see a new value pop into the book, and this will change some of the calculations. One of the issues here is actually pretty basic with web based programs. The client (your browser) is running javascript and updating some of the fields that it can calculate on its own, but it also relies on the server, which does its own calculations for other fields. So, depending on which field we are talking about, it could be relying on the server to give it the correct value, while another field may be updating based on a local calculation. So, ideally, doing things locally makes them faster for the user, but the server won't know about them until they are sent, while if you wait for the server for everything, it won't be as responsive on the "frontend" (which is the browser you are using to view bitfinex.com).

That is all to say that there is a lot of stuff going on all the time. Other people are changing the state of the book, and depending on whether a given value is being calculated by the server or the client, it can be difficult to keep track of how a certain number was arrived at. This is a general answer, to your very specific question, so it might not be exactly right, but in general, in my experience, it is usually caused by things like this.

Basically, you have to account for unrealized P&L in order to calculate correctly, because your wallet balance is not static (it changes for the purposes of those calculations based on your unrealized P&L).

[fonzie]

Is it possible to buy a VIP status on your platform? I´d love to have some additional informations!