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

[ledmaniak]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

Will all trades be reverted back or should I just accept the loss made because the system was halted?

[shakesbear]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

I know I'm a noob, I know I suck at trading....... But can people explain how this works ?

[btcdrak]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

I know I'm a noob, I know I suck at trading....... But can people explain how this works ?

You got goxxed from the front, and bitfixxed in the rear...

[MAbtc]

I see trades going through...... so what is it. Trades halted or not?

[Baalinooo]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This is unacceptable. Offering the possibility to short in times like these is the very reason people use BFX.

[mattco]

My longs at 150/250/350 have been cancelled. Everything from the 5000 BTC dump will be reversed apparently.

Why cancelled that's how it's supposed to work. It's a dump.

Because the API link to bitstamp was gone so those prices were a glitch.

If the prices were a glitch, it would have only happened at Bitfinex. Bit it happened at BTCe too. So piss off mr apologist.

If those 5000 BTC were dumped with bitstamp liquidity working, the price wouldn't have dropped to $100 and there wouldn't have been over 3000 BTC in margin calls. It's a glitch.

Any why did the price also tank at BTCe? They are not connected to Bitstamp, it's all done on their own trading engine with CFD via MT4. The price reached the same level.

That's irrelevant. BTCe had its own dumps, it has nothing to do with Bitfinex. The price reaching $100 on both exchanges is a coincidence.

[obitoo]

I see trades going through...... so what is it. Trades halted or not?

i put a test buy of 0.01 on earlier, and it just went thru

[Giggety]

We are online,

go make their wrongs right

[Tyson95]

Seems to be working

[scorp1618]

Everyone should just chill out. Acting immature and making assumptions will get you no where.

[ledmaniak]

Any words on this and how you are going to compensate for losses made?

Everyone should just chill out. Acting immature and making assumptions will get you no where.

Easy talking. How much did you lose actually?

[btcva]

I have a question about the new way that Bitfinex integrates the Bitstamp order book.  Raphael has said that now Bitstamp orders are augmented by between 0.15% and 0.25% before being displayed on the Bitfinex order book.  However, take a look at these images of Bitstamp and Bitfinex order books taken at the same time earlier today:

Bitstamp's order book - http://imgur.com/D8TqTks
Bitfinex's order book - http://imgur.com/AKh049t

Based on what Raphael said about price augmentation, the lowest ask on Bitfinex's order book should be no greater than $706.91 ($705.15*1.0025) - the lowest displayed is $709.41. And the highest bid should be no lower than $706.06 ($705*1.0015) - the highest displayed is $704.34. So either what Raphael told us about integration of the two order books is wrong, or the process is error-prone. And I have observed this phenomenon very often. This, to me, is very troubling.  Does anybody have an explanation for this?

Raphael and Giancarlo - I know you're both probably very busy right now with everything going on.  But when you get a second, could you please address this issue I raised?  I think it's very important, and a cause of confusion for many people.  Thanks!

[Indamuck]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

[urwhatuknow]

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

[urwhatuknow]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
20k, 30k?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

[BitBits]

I have mixed feelings about this one. BFX will handle it as they choose to handle it and some will whine and get upset and some will be very happy about it.

Yes, you're supposed to get cheap coins when the market crashes if you have bids, and you're supposed to loose money if you're long. But you're also supposed to be able to trade Bitstamp at BFX and for some reason Bitstamp fell out and orders were done on BFX only and it seems a chain of margin calls brought the price down to $100. BFX can reverse trades or a lot of lenders will loose a lot of money. In a free market lenders should perhaps loose money and those with bids should perhaps get cheap coins, hard to say what's "fair". At the end of the day we will just have to see how BFX chooses to handle this and what happens.

It actually looks like this (ridiculously done) sell order was real because the same shit happened at BTC-E. They've had the same dip in price, all the way to 100. So whatever happened with your orders was a real thing, NOT A GLITCH !!!. The only problem was that trading halted, but my feeling is that this is some sort of a "safety" mechanism (possibly created due to recent glitch), in case there are super weird trades in the system.

[btcdrak]

Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

This event (Mt. Gox news) was anticipated since late Friday Asia time. Did you not have time to prepare for it, or just not paying attention?

We don't have a crystal ball.
If you have one please send us your CV and we will employ you.
Prepare for what?
How many bitcoins is enough?
Are just blowing hot air out of your mouth or you forgot to switch your brain on?

Giancarlo
Bitfinex Team

Wow, the author of "how to win friends and influence people" just showed up on the forums. Can we have an autograph?

[Wassupia]

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Does that mean liquidations have been reversed and lenders money is safe?

[Ente]

The trading has been restored now.
We halted it because forced liquidations of leveraged positions quickly depleted our big reserves of BTC on Bitstamp and when this happens the price tends to become too volatile.
We had to wait for the coins become available on Bitstamp before we resumed trading.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Aah, you were talking about BTC deposits, not USD deposits! Now this sounds much, much better!
Thank you for getting stuff up and running again.

Ente

[Ente]

Does that mean liquidations have been reversed and lenders money is safe?

My margin call limit sure as hell was above 100$. I was not liquidated. I, for one, am a happy fckr.

Ente