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BitBits
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August 03, 2015, 05:27:16 AM
Last edit: August 03, 2015, 10:50:14 AM by BitBits |
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I you create a margin order for 5000, when you try to close it, it does not close and the message "You can't create an order for more than 5000 units" gets displayed. This is very big issue since people could lose a lot of money because of this bug and get stuck in a position.
Not sure where you get this, the maximum single order entry is actually 2000 btc. But even then, one can simply place more than one order under 2000 btc each, but more than 2000 combined, to have them open simultaneously. This is not a "big issue" or a "bug". Gee, so much whining about almost nothing going on in this thread lately... |
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8fold
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August 03, 2015, 02:32:19 PM |
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I you create a margin order for 5000, when you try to close it, it does not close and the message "You can't create an order for more than 5000 units" gets displayed. This is very big issue since people could lose a lot of money because of this bug and get stuck in a position.
Not sure where you get this, the maximum single order entry is actually 2000 btc. But even then, one can simply place more than one order under 2000 btc each, but more than 2000 combined, to have them open simultaneously. This is not a "big issue" or a "bug". Gee, so much whining about almost nothing going on in this thread lately... He did not say it was 5000 btc. |
Bitrated user: 8fold.
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J1h2xc
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Activity: 2
Merit: 0
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August 04, 2015, 11:45:29 AM |
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Price level aggregation for the full orderbook?
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novymivo
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August 04, 2015, 01:33:53 PM |
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I decided to close position made opened by bitfinex BUG. I lost at least 300 $, I also withdraw all of my money (btc). There is no answer from support at all. BE CareFULL Guys, there is something wrong with them !! https://www.reddit.com/r/BitcoinMarkets/comments/3fgopk/bitfinex_not_closing_orders/GUYS DO NOT TRADE THERE AS SOMETHING IS WRONG The little update : The bitfinex just contacted with me, we are working on finding right solution to cover my loses, I will let you all know. Update : 3 days later and I am still waiting for refund. How long this usually takes ? |
1DP6hkRCNoxE15QFfyeqxRk1qu7gX4FzGS
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BitBits
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August 04, 2015, 09:04:15 PM
Last edit: August 06, 2015, 05:32:43 AM by BitBits |
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...
He did not say it was 5000 btc.
He said the error message mentions "units" and that applies to coins not to USD. I guess however he is trading LTC, where the limit I mentioned is indeed 5000 (units). So, the rest of my message applies. |
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BitBits
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August 04, 2015, 09:07:54 PM |
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Update :
3 days later and I am still waiting for refund. How long this usually takes ?
Tell us EXACTLY what support answered to your original inquiry (just quote while removing sensitive info), not what your own interpretation of it is. |
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tclo
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August 05, 2015, 01:10:05 AM |
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I like Bitfinex a lot, but miffed at what looks like a blatant rip off, dishonest dealing, as follows:
I opened an account, designated a 'trader' account, with US$5k, and proceeded to buy BTC and LTC in the amount of around US$5200.
Now any reasonable person would think that my margin loan requirement was only US$200 ... but I find that Bitfinex automatically finances all positions in a 'Trader' wallet ... I ended up paying near 1%/day for US$5.2k loans that I didn't even need. Their software is automatically set up to do this.
Even when I re-designate my account as 'Exchange' and sell some of my position, there is no way to move my existing positions from the 'Trader' wallet to the 'Exchange' wallet, I'm stuck watching their software continue to fund this fully-funded position with usurious loans.
That is not sloppy programming, poor webdesign, or some casual oversight. It is a pretty crummy way to conduct business. Bitfinex gonna make some money off of unwitting and/or inattentive traders this way ... likely funding these loans directly ... shame.
You must use the exchange wallet, not the trading wallet for your purchase. The trading wallet is purely for margin trading. What you would then do is transfer the bitcoins to your trading wallet and then take a $200 loan. https://bitfinex.com/pages/howitworksI actually love their system and admire how it was conceived. Yeah it's kind of a hassle to move funds back and forth between wallets, but I tolerate this. I rarely bother to use Exchange for my long positions, even though I really should and save the swap cost. Bitfinex has it's drawbacks and I've lost thousands of $s from site outtages in the past, but it's still the best exchange out there that I've used and I like the site, despite its faults. And seems like they are always trying to tweak and improve it, unlike Bitstamp which became very stale. |
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Sukrim
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August 05, 2015, 07:46:00 AM |
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You are aware that you answered to a post from 2013, right?  |
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SebastianJu
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Legendary Escrow Service - Tip Jar in Profile
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August 05, 2015, 05:02:56 PM |
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Hm... bter seems to have some problems too, bitfinex, and poloniex has problems in New York because bitlicense. And blockchain spamming is going on again too. That sounds dangerous to the bitcoin price?
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Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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dreamspark
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August 05, 2015, 05:06:18 PM |
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Hm... bter seems to have some problems too, bitfinex, and poloniex has problems in New York because bitlicense. And blockchain spamming is going on again too. That sounds dangerous to the bitcoin price?
The issues with the NY licence have been known for a while so I dont think it will affect the price too much as each exchnage either deals with it or shuts up shop in NY. |
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BitBits
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August 06, 2015, 07:18:23 AM |
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We have decided to unify our BTC and LTC trading fee schedules into one universal tier structure based upon overall USD value traded in the last 30 days. We have also added additional tiers that reduce the taker rate. This new system will allow traders to get the benefit of their BTC volume when trading LTC and vice versa. Because we are anchoring the tiers to the USD value traded, our customers will find it easier to maintain their tier in fluctuating markets, most notably saving money over the old system in the event of a future price rise. The new rates are as follows: Announcement and new fee structure is here: https://www.bitfinex.com/pages/announcementsHowever the "fees" page, as well as corresponding user account area are not yet updated. |
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novymivo
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August 06, 2015, 09:42:19 AM |
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Hello All, I"ve received full refund yesterday. Good move guys. I am back to bitfinex with my money . Thanks  |
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dreamspark
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August 06, 2015, 11:40:06 AM |
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Hello All, I"ve received full refund yesterday. Good move guys. I am back to bitfinex with my money . Thanks Glad you got your refund. Next time though don't whine so much as we were telling you that they would get round to you and sort out any issues you had. |
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tclo
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August 06, 2015, 06:16:33 PM |
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We have decided to unify our BTC and LTC trading fee schedules into one universal tier structure based upon overall USD value traded in the last 30 days. We have also added additional tiers that reduce the taker rate. This new system will allow traders to get the benefit of their BTC volume when trading LTC and vice versa. Because we are anchoring the tiers to the USD value traded, our customers will find it easier to maintain their tier in fluctuating markets, most notably saving money over the old system in the event of a future price rise. The new rates are as follows: Announcement and new fee structure is here: https://www.bitfinex.com/pages/announcementsHowever the "fees" page, as well as corresponding user account area are not yet updated. Ouch, they really jacked up the fees. Obviously they more than doubled for LTC and also much higher thresholds to get discounts on commissions. I guess Finex decidded they were leaving too much money on the table. The problem with the LTC Bitfinex market is that it's already thinly traded and difficult to get in and out of positions without a lot of slippage. So these fees will probably lead to even less volume and even more difficult to trade LTC there. And then will be even less volume and could be vicious cycle. I knew they had to add some higher LTC feels eventually but doubling the Taker rate is a lot and most people won't qualify for discounts on the Maker side. Oh well I am sticking with Bitfinex, but will certainly trade a good bit less there now that will be more drag on returns from the higher commissions and not really profitable to scalp small amounts any longer. But still will be useful when the market is really moving and easier to get in and out of positions. |
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statdude
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August 07, 2015, 05:35:46 AM |
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Why delist DRK, business case?
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Xiaoxiao
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The Golden Rule Rules
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August 15, 2015, 02:15:14 PM |
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How long does btc withdrawals take? Over 2 hours is a bit too long....
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dreamspark
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August 15, 2015, 02:25:36 PM |
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How long does btc withdrawals take? Over 2 hours is a bit too long....
I have never waited that long for a withdrawal to leave Finex, is it still pending or are you awaiting to see it at the other end. Common reasons for long withdrawals are if the hot wallet has ran dry, extra verification is needed if its a first time or a suspicious withdrawal or the TX hasn't been picked up by a miner yet. Do you fit any of those case? |
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Xiaoxiao
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The Golden Rule Rules
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August 15, 2015, 02:33:20 PM |
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How long does btc withdrawals take? Over 2 hours is a bit too long....
I have never waited that long for a withdrawal to leave Finex, is it still pending or are you awaiting to see it at the other end. Common reasons for long withdrawals are if the hot wallet has ran dry, extra verification is needed if its a first time or a suspicious withdrawal or the TX hasn't been picked up by a miner yet. Do you fit any of those case? I don't think so. |
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dreamspark
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August 15, 2015, 03:45:49 PM |
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How long does btc withdrawals take? Over 2 hours is a bit too long....
I have never waited that long for a withdrawal to leave Finex, is it still pending or are you awaiting to see it at the other end. Common reasons for long withdrawals are if the hot wallet has ran dry, extra verification is needed if its a first time or a suspicious withdrawal or the TX hasn't been picked up by a miner yet. Do you fit any of those case? I don't think so. Well I've just withdrawn instantly with no issues. If it hasn't gone now, contact support and they will reply as soon as possible. |
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medicine
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August 17, 2015, 11:41:17 PM |
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Should Bitfinex be paying interest on cash deposits? Right now market statistics show $32 million lent out as swaps, and I'm sure there is a substantial amount of cash in the order books and sitting in people's accounts on Bitfinex.
All this USD is hopefully sitting in Bitfinex's bank account held by CTBC BANK Co., Ltd. Bank Address: 5F, No. 17, Sec 1, Cheng De Rd., Taipei City 103, Taiwan.
These deposits are collecting a substantial amount of interested and I want to suggest creating an algorithm to payout this interest to customers who have their cash deposited with Bitfinex.
I don't think this is an unreasonable suggestion. If I have 10,000USD sitting on Bitfinex for a month I would like to receive interest on that deposit whether I'm lending it out or not.
Should Bitfinex be paying interest on cash deposits? Is this a good next step for exchanges in general?
Peace
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