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

[unclescrooge]

what i mean is im setting an order and its not even appearing in the book right now, anyone else?

edit: market orders work, limit orders dont appear in the book (i tried several times)

Yes. It's broken.

I see other orders added and removed, not sure if those are all bitstamp orders or if bfx has decided to not show your own orders?

anyway this is the WORST CHANGE AT BFX EVER and I think it's UTTERLY STUPID.

If BFX wants to show orders at different prices than they really are at bitstamp so BFX fee can apply to all orders then fine, but why not show what orders are where anyway? More information is better than less.

Hello,

There is several reasons to this, and I'll detail them here.

The first and foremost is the performances. Before the change, the trading engine was fetching bitstamp orderbook and merging it with our own orderbook. This means network latency, possibilities of network failures. This also meant that the trading engine had to reload ALL limit orders from BFX to see if it matched with one of bitstamp orderbook. In otherwords: bad performances.
Now, bitstamp orderbook is fetched asynchronously, integrated into our own orderbook as BFX orders, and thus the trading engine can fetch only our own orderbook, and not reload sitting limit orders just for the sake of verification >>

We are talking of at least 3 times faster trading engine just with this change.

Other reason is:
-better management of liquidity (by calculating precisely which orders can be added depending on our own liquidity)
-simpler interface
-Simpler in term of understanding the platform (why my limit orders was not executed on bitstamp while they traded below the price?.... Why my limit orders doesn't appear on bitstamp?...)

And that's it. The performances gain alone are worth 10 times the change.

In term of liquidity, it doesn't change a single thing.

I hope you'll all get used to it, we are sure you won't regret it eventually.

Have a good day
Raphael
Bitfinex team

[1714897792]

1714897792

[1714897792]

1714897792

[1714897792]

1714897792

[EABEAB]

Made a "Withdrawal" yesterday 24-Hours ago,
Normally I get a notice sent to my EMail:



Hello,

Your withdrawal #XXXXX, of XXXXX USD via WIRE, has been approved. It will be processed within the next business day.

Regards,
The Bitfinex Team
https://www.bitfinex.com/



This time I have not received that confirmation,  .
The request was made Jan. 29, 2014
I'm just wondering if this notice of yours affects it in any way ?
The withdrawal request was made before the Chinese New Year Banking Holidays,

Chinese New Year Banking Holidays
Posted: 27 Jan 17:00

Dear customers,

During the Chinese New Year, from the 31st of January to the 6th of February, our deposit bank will be closed for the holidays.
To avoid any disruption of service, we temporarily accept deposits on our other bank account for which details can be found on the Deposit page.

Best regards
The Bitfinex Team


I understand the:

"Wire withdrawals will be processed within 3 business days, unless you request the option "Express".

However the 3-Business days will place the request within the Chinese New Year Banking Holidays,
Will this affect the processing of this withdrawal ?, ,  and lastly if one does not choose the 24-Hours Express
Option does this affect when one receives the EMail Withdrawal Confirmation ?,  

Withdrawal Request still reads:  "Processing"

[nmersulypnem]

Bitfinex already change wire deposit account from China Off Shore Account to China Construction Bank Account located at Hong Kong.
Good news for those who feel little doubt about deposit in Bitfinex.

Did it change back?  The wire bank on my deposit page still shows a bank in Pudong, not Hong Kong.  When will this be changed?  I don't want to send a large wire to mainland China, even if it's technically an offshore account.

[Vermelho]

I noticed the api feed had gone a little wacky so I decided to come find out what was going on since I didn't get an email or anything about any changes.

It seems there has been some changes...

Now that the orderbooks have been merged there is no way for me to differentiate BSTP and BFX orders. So any strategy that uses order volumes from each exchange won't really work because I can't discern the sizes of the orders specific to BFX. Is there any solution to this such as labeling BSTP orders on the api so they can be differentiated?

The BSTP prices also seem to have been marked up now. So I'm seeing a total markup of about 0.45% now including the new 0.20% fee, is that right? Still lower than BSTP but an increase to the previous rate.

Thanks for the support and continued refinement of the site. Looking forward to your future improvements.

[unclescrooge]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

[nmersulypnem]

...You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees...

best regards
Raphael

For a lot of smaller users - it is becoming less competitive to remain on Bitfinex.  During stable times (as now) the profitability of trading goes to zero with fees of the current size, and that serves no one.  If liquidity remains low and fees high, I would expect you to make less overall in commissions.   If you want to maximize profit for yourselves in the current environment, consider lowering fees.

Also, with regard to the order book change:  I think the price standardization makes sense, but the order source should remain.  Firstly, the UI makes no sense now if they all show "BFX", but more importantly there is different information in a BFX vs STAMP order.  I can statistically assume a likelihood of a leveraged position if it is coming from BFX and that factors into my estimation of the market psychology.

[EABEAB]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

Wow,

I don't believe it,
Somenone from the BitFinex Team
logs back into this chat and does not address
my "WithDrawal Concerns" mention about eight posts up,
https://bitcointalk.org/index.php?topic=229438.msg4847372#msg4847372

2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

Would really due for BitFinex to address the "Customer Service" issues that everyone here seems to be mentioning
versus just leaving us hanging with no answers, geez !

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

[nmersulypnem]

...
2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

...

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Out of curiosity, is anyone else having issues with a withdrawal recently?

[EABEAB]

...
2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

...

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Out of curiosity, is anyone else having issues with a withdrawal recently?

Give it a shot and see what happens,
I would love to know that it's not just me,

previously everything has gone really "Smooth" with BitFinex,
This time I'm sitting on edge, not to mention that my Wife and
I have a move scheduled coming up in the next couple of days,
This is really screwing things up for us.

[urwhatuknow]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

Wow,

I don't believe it,
Somenone from the BitFinex Team
logs back into this chat and does not address
my "WithDrawal Concerns" mention about eight posts up,
https://bitcointalk.org/index.php?topic=229438.msg4847372#msg4847372

2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

Would really due for BitFinex to address the "Customer Service" issues that everyone here seems to be mentioning
versus just leaving us hanging with no answers, geez !

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Eabab

you filled your wire request on the 29th.
Today is the 31st.
On the wiring section it is clearly stated wires will be executed within 3 working days unless the express case is ticked.
What is not clear about this?
Sorry for not being quicker in my answer, but we tend to only solve real problems and to ignore all the rest.
And then what should I have answered to you?
RTFM?
In not that rude, c'mon.....
 
It's ironic how people wait for MONTHS for their wires on Gox and start complaining the very same day they ask for a wire on us.
Please relax, your money is on the way.
And money is not as fast as Bitcoin

Thanks a lot and have a good day

Giancarlo
Bitfinex Team

[EABEAB]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

Wow,

I don't believe it,
Somenone from the BitFinex Team
logs back into this chat and does not address
my "WithDrawal Concerns" mention about eight posts up,
https://bitcointalk.org/index.php?topic=229438.msg4847372#msg4847372

2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

Would really due for BitFinex to address the "Customer Service" issues that everyone here seems to be mentioning
versus just leaving us hanging with no answers, geez !

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Eabab

you filled your wire request on the 29th.
Today is the 31st.
On the wiring section it is clearly stated wires will be executed within 3 working days unless the express case is ticked.
What is not clear about this?
Sorry for not being quicker in my answer, but we tend to only solve real problems and to ignore all the rest.
And then what should I have answered to you?
RTFM?
In not that rude, c'mon.....
 
It's ironic how people wait for MONTHS for their wires on Gox and start complaining the very same day they ask for a wire on us.
Please relax, your money is on the way.
And money is not as fast as Bitcoin

Thanks a lot and have a good day

Giancarlo
Bitfinex Team

Thanks Chief,

Guess this whole "New Years Chinese Regs"
Has me on edge, I imagine that answers my previous question
as to if the EMail Confirmation is also delayed for 3-Days, this
entire 3-Day deal is something new that's been implemented.

If so would it not be better to send out an immediate confirmation
something stating to the effect of :

"Your WithDrawal Request Has Been Received and will be processed within 3-Days" ?

My only concern now is that a 3-Day deal puts me inside of this 5-Day Chinese Holiday,
will that add another 5-Days to the 3-Days for a total of 8-Days waiting time before the
process even starts ?

[urwhatuknow]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

Wow,

I don't believe it,
Somenone from the BitFinex Team
logs back into this chat and does not address
my "WithDrawal Concerns" mention about eight posts up,
https://bitcointalk.org/index.php?topic=229438.msg4847372#msg4847372

2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

Would really due for BitFinex to address the "Customer Service" issues that everyone here seems to be mentioning
versus just leaving us hanging with no answers, geez !

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Eabab

you filled your wire request on the 29th.
Today is the 31st.
On the wiring section it is clearly stated wires will be executed within 3 working days unless the express case is ticked.
What is not clear about this?
Sorry for not being quicker in my answer, but we tend to only solve real problems and to ignore all the rest.
And then what should I have answered to you?
RTFM?
In not that rude, c'mon.....
 
It's ironic how people wait for MONTHS for their wires on Gox and start complaining the very same day they ask for a wire on us.
Please relax, your money is on the way.
And money is not as fast as Bitcoin

Thanks a lot and have a good day

Giancarlo
Bitfinex Team

Thanks Chief,

Guess this whole "New Years Chinese Regs"
Has me on edge, I imagine that answers my previous question
as to if the EMail Confirmation is also delayed for 3-Days, this
entire 3-Day deal is something new that's been implemented.

If so would it not be better to send out an immediate confirmation
something stating to the effect of :

"Your WithDrawal Request Has Been Received and will be processed within 3-Days" ?

My only concern now is that a 3-Day deal puts me inside of this 5-Day Chinese Holiday,
will that add another 5-Days to the 3-Days for a total of 8-Days waiting time before the
process even starts ?

During Chinese New Year we are using another of our banks.
Hong Kong is much more efficient and they keep closed only on monday.
I would expect your wire to hit your account around wed/thur, but please don't get angry if you get it on friday.
I will ask Raphael to get the verification email straight.

Thanks and please reassure your wife, we are not here for a quick buck.

Have a good weekend

Giancarlo
Bitfinex Team

[EABEAB]

Hello guys,

About the fees, there is no fixed markup, but a variable one, between 0.15% and 0.25%, depending on distance from ticker price, and bitstamp orderbook "age" (timestamp of the orderbook provided). The main reason is again performances, by grouping orders we don't overload the engine. This may be adjusted within the next few days based on the slippage we get.
You'll note that on average you will pay less fees, as soon as you have a discount on BFX fees.

For the sake of our activity, we will always be as competitive as possible for Bitstamp orders price.

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

best regards
Raphael
Bitfinex team

Wow,

I don't believe it,
Somenone from the BitFinex Team
logs back into this chat and does not address
my "WithDrawal Concerns" mention about eight posts up,
https://bitcointalk.org/index.php?topic=229438.msg4847372#msg4847372

2-Days later, Funds Deducted, but No EMail Confirmation,
This is strange / odd, normally the "WithDrawal Approved"
EMail Confirmation Arrives within hours after making the request,
still reads "Processing", Are you having "Problems" in China ?

I originally sent funds to the China Account, with all the concerns that everyone is having regarding the new Chinese Regulations
I would think that this "WithDrawal Concern" would be a FIRE that you most definitely want to put out quick and in a hurry.

Would really due for BitFinex to address the "Customer Service" issues that everyone here seems to be mentioning
versus just leaving us hanging with no answers, geez !

Who am I but a Lowly Customer concerned about a "Withdrawal" that's obviously not worthy of a response.

Eabab

you filled your wire request on the 29th.
Today is the 31st.
On the wiring section it is clearly stated wires will be executed within 3 working days unless the express case is ticked.
What is not clear about this?
Sorry for not being quicker in my answer, but we tend to only solve real problems and to ignore all the rest.
And then what should I have answered to you?
RTFM?
In not that rude, c'mon.....
 
It's ironic how people wait for MONTHS for their wires on Gox and start complaining the very same day they ask for a wire on us.
Please relax, your money is on the way.
And money is not as fast as Bitcoin

Thanks a lot and have a good day

Giancarlo
Bitfinex Team

Thanks Chief,

Guess this whole "New Years Chinese Regs"
Has me on edge, I imagine that answers my previous question
as to if the EMail Confirmation is also delayed for 3-Days, this
entire 3-Day deal is something new that's been implemented.

If so would it not be better to send out an immediate confirmation
something stating to the effect of :

"Your WithDrawal Request Has Been Received and will be processed within 3-Days" ?

My only concern now is that a 3-Day deal puts me inside of this 5-Day Chinese Holiday,
will that add another 5-Days to the 3-Days for a total of 8-Days waiting time before the
process even starts ?

During Chinese New Year we are using another of our banks.
Hong Kong is much more efficient and they keep closed only on monday.
I would expect your wire to hit your account around wed/thur, but please don't get angry if you get it on friday.
I will ask Raphael to get the verification email straight.

Thanks and please reassure your wife, we are not here for a quick buck.

Have a good weekend

Giancarlo
Bitfinex Team

Thanks Chief,

I'm a member of:
https://www.TradingView.com
Primarily for the lack of a finding a good
BitFinex Chart to work off of that I can use indicators,
of which even they don't offer, I use their BitStamp chart
which is close but still not quite a BFX Chart, I'm aware of
BitCoinWisdom's BFX Chart, but BitCoinWisdom is no TradingView.com.

I've sent at least 3 to 5 people / referrals who've opened accounts at BitFinex,
They keep asking me for a "Referral Link" which I take as a affiliate link, my response
has been "Those are given out upon Request".

It's not that my Wife or I for one moment had any doubts in the Character of BitFinex,
but we are aware that bad things sometimes happen to "Good People", like Regulation Traps.

Which would not be a reflection upon BitFinex but more of the Chinese Government again,
having come into this market two days before the "China Exodus" on Dec. 5, 2013 we are all
too aware of the effects of China's Regulations, we took a serious dent just from that.

We watched this market make a five-times fold in Nov. 2013 when we found btc at $200 per btc,
by the time we got all of our KYC/AML regulatory requirements out of the way btc was at $1100 per btc,

Trust us when we say that we are not big fans of regulations, especially Chinese Regulations at this point.
Witness "Five-Fold", we come into the market and two days later the bottom drops out due to China, thus
leaving us with the market we have today, and now even more Chinese Regulations.

First no banks, secondly no third party money transactons like PayPal or AliPay, now no ClearingHouses,
The Chinese Govt. have all but murdered the Chinese Exchanges which all but lead the Nov. 2013 rally,
and still no one makes a move at https://www.TradingView.com without first seeing what Huobi
is doing first, it was BtcChina who the Chinese Gov. dropped the hammer on, now it's Huobi.

Here is a nice link you may enjoy:
http://www.mrspeaker.net/btc/


Thanks

[Spaceman_Spiff]

Dear customers,

In an ongoing effort to better serve our customers, we are rolling out a
series of enhancements to the platform designed to make your trading
experience at Bitfinex more intuitive, efficient, and cost effective.  To
that end, we have made the following changes:

<snip>

Nice job guys.

[BitCoinNutJob]

how do we recognize bitstamp orders now?  could you have a * next to them please?

[Ichthyo]

Regarding labelling orders, we'd like to evaluate the need for it. So please if everyone wants a special labelling for orders, can you please jump in and tell us why you need it?

for me it's mostly related to market psychology.
Esp. during quick movements, the BFX internal market behaved significantly different than the "large public" markets Bitstamp and Gox.
My (surely subjectively biassed) impression is that "actions" tend to start rather from Gox and sometimes now from Bitstamp. Anyway, I often just watch the Bitstamp chart and when I see e.g. 2 big Ask walls inserted, then I'd like to identify those on the Bitfinex orderbook as well.

Regarding "psychology", Bitfinex had tremendous growth, but for all foreseeable future BFX and BSTMP are two audiences, and most notably one of these two audiences (BFX) can see and watch the other one in action, while the opposite is not true; action on Bitfinex appears as sudden market activity on Bitstamp (unless someone has an Bitfinex account and cares to look into the BFX orderbook).


Regarding the feature itself, in the past it had three distinct aspects:

• the ability of routing orders to Bitstamp or limiting orders to Bitfinex
• the fact that the Bitstamp orderbook could disappear any time temporarily (due to connection problems), so you'd better not rely on a big Bitstamp order sitting there
• the convenience to see which offer comes from which audience

Order routing is gone now. Not sure about the handling of connection problems. But the thrid point is surely just some convenience, since you can look on a Bitstamp chart directly.

[Ente]

For me, all would be well when all orders/orderbookentrys have the same effective fees.
Sure, a * for BitStamp or BitFinex would be nice, just to know. Not important for me though, I have Bitcoinwisdom running with BitStamp anyway, and Bitcoinity with the BitFinex chart when things get hot. Enough info for me here.

As we are at "make a wish":
How about that suggested "the liquidity taker may keep my liquid for another x days" button for liquidity providers?

The performance/speed really went up a lot. This by itself makes working with the platform oh so much more enjoyable! Thank you.

Ente

[tolega]

Thank you Bitfinex team for all the hard work!


All I see from my side are rainbows, beaches and a beautiful sky.

[Sukrim]

Please stop spamming and read the article http://en.wikipedia.org/wiki/Business_day instead.

Edit:
Also if you need money urgently, why do you withdraw with the slower method that does not guarantee delivery before you move away? Anyways, I hope everything works out for you.

[tolega]

Respectfully, I would prefer not to have any business with this kind of customers.