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

[Sukrim]

I have a question, if I have an open margin buy and and want to close that position, but not as a market order can I do it as a limit.
Thanks.

Not to sound like "talking down" on you, but are you sure you should be trading on margin if you don't know that before opening a position?!
Why not just trade with e.g. 1 USD and find this out by yourself?

Anyways, yes, you can close your position(s) with all kinds of orders, limit amongst them.

[techgeak300]

I have a question, if I have an open margin buy and and want to close that position, but not as a market order can I do it as a limit.
Thanks.

Not to sound like "talking down" on you, but are you sure you should be trading on margin if you don't know that before opening a position?!
Why not just trade with e.g. 1 USD and find this out by yourself?

Anyways, yes, you can close your position(s) with all kinds of orders, limit amongst them.

Thanks for the advise, and I am not trading with alot of money.  I could not find anywhere on their website about how do close a postion different ways.
If you could link me to that information I would appreciate it.

[Sukrim]

Well, their documentation kinda sucks. I recommend just playing around with it until it does what you want it to do...

You can check out https://community.bitfinex.com/showwiki.php (the SSL certificate is expired by the way!) or the forums there for some tips and help.

[techgeak300]

@Sukrim thanks, did not even know there was a support forum.

[nrd525]

While US lending is down, BTC lending is up a lot.  11,500 BTC.

The sentiment index is even bearish.

[F-bernanke]

Hello guys,

I will sum up everything about our withdrawals (and deposits) system to answer questions:

First we tend to keep low reserves on hot wallets, which is why in times of "uncertainties" with a lot of withdrawals like these days, your withdrawal can go back into "Pending approval" state after being approved, until we replenish the hot wallet (up to 12 hours). Paranoia is our policy (for those who remember when we left MtGox in June last year )
Secondly, and this is what happened here, sometimes a bitcoin withdrawal will fail to be accepted on the network. It happens rarely but does happen. In this case the system will still assume the withdrawal is completed, and you have to contact us by email to support@bitfinex.com so that *a human* verifies if the withdrawal has actually failed, in which case it will be sent again.

For the deposits failing, we made a few adjustment today as sometimes when a lot of transactions occurred we would missed a deposit.

Since I'm on the topic, we do not track withdrawals by TXID so the "falsely failed" withdrawal exploit can not be used against us. Furthermore, we do reconciliate our assets and liabilities every hour in order to quickly spot if a "leak" of crypto-currencies would be happening for whatever reasons. This is something obvious to do for an exchange and I didn't think I would need to mention it, but I think I have to point it out considering recent events.

Finally, if you have an issue on your account, it is better to send us an email at support@bitfinex.com, this will be treated quicker than in this thread.

Thanks for your renewed trust and helping us being one of the top bitcoin exchanges in term of volumes.

Thank you and have a good day
Raphael
Bitfinex team

Thanks, I'm glad to read this.

Everybody's prime concern is security, especially after the gox horror story. And please keep doing what your doing, keeping the hot wallet small (everybody knows a security breach can happen anytime).

[nrd525]

Ending the connection to MtGox turned out to be a great decision.  I know there was regular criticism of it.

[q33139768]

Ending the connection to MtGox turned out to be a great decision.  I know there was regular criticism of it.

I happened to trade in mtgox last March. Then it took me 4 month to apply for a withdraw of money without success. so I told everyone not to trade there in any situation. I guess I am lucky.

[akujin]

One thing I didn't like with bitfinex is after putting one order, they don't deduct it from my balance. So if I put another order and click BUY ALL, it still use the whole balance in my account instead of deducting the amount from my first order to my balance then use the remaining balance for the second order.. So I need to manually calculate how much was remaining in my balance before I could put another order 

[Sukrim]

You are seriously complaining that you need to calculate a simple subtraction?!
Also you can just use market orders, then your available balance will go down.

Since you can trade in more than one market with your balances, you can not freeze part of them just for a limit order that might never be executed in the first place.

[Indamuck]

HELP! A withdrawal was just made from my account - and it wasn't me!!!!


I have OTP activated, and my phone has been in my possession this whole time!!!!

How did this happen

BFX - please get back to me soonest!

Indamuck

[Sukrim]

Send a mail to the support then, this thread is not an official way to contact Bitfinex.

[akujin]

You are seriously complaining that you need to calculate a simple subtraction?!
Also you can just use market orders, then your available balance will go down.

Since you can trade in more than one market with your balances, you can not freeze part of them just for a limit order that might never be executed in the first place.

Simple subtraction?! You have to use multiplication to multiply the amount to the price before you could subtract the result to the balance! And you have to use addition if you already have made a bunch of orders! DUH!? 

So you are saying that its much better for users to do multiple clicks in their calculator than bitfinex implimenting a simple calculation in their website?

[Indamuck]

Send a mail to the support then, this thread is not an official way to contact Bitfinex.

I know - but the response from e-mail is slow.

[Sukrim]

So you are saying that its much better for users to do multiple clicks in their calculator than bitfinex implimenting a simple calculation in their website?

It is not always clear which orders should be subtracted for the next order and which shouldn't. If I click "BUY ALL", I for example would even expect it to cancel any open order and just put in a market buy order with the maximum amount possible.

[akujin]

So you are saying that its much better for users to do multiple clicks in their calculator than bitfinex implimenting a simple calculation in their website?

It is not always clear which orders should be subtracted for the next order and which shouldn't. If I click "BUY ALL", I for example would even expect it to cancel any open order and just put in a market buy order with the maximum amount possible.

I'm not sure what you're talking about.. Let's say I have $1000 and I put a limit buy order worth $200, All they have to do is deduct $200 + fees from my balance and I'll have $799.7 remaining balance. If I cancel the order, my balance becomes $1000 again.
If I click BUY ALL, then it should use the remaining $799.7 balance in my account. Is it that hard?

Currently, if you have an order then click BUY ALL and put another order, it will say "not enough balance" and it won't automatically cancel any open orders. So that means, that BUY ALL button is useless if you have other open order.

[Sukrim]

I said what I would expect, not what it currently does.

What if you have two 600USD orders (one for LTC, one for BTC) open? Should it then buy 1000 (since this is all that is available), 400 (since after one trade, the other order cannot go through as a whole and only be partially filled), 0 (as in total 1200USD are used for orders), sell 200 (since the balance would be -200 USD)?

Again, "BUY ALL" means "Take everything that is available RIGHT NOW and buy all of it", not "Check if there might be eventually something bought far in the future, calculate the remainder and buy only that amount". With Greasemonkey by the way, you can implement something with the functionality that you want to have client side...

[akujin]

I said what I would expect, not what it currently does.

What if you have two 600USD orders

HUH? How would you make two $600 order if you only have $1000 in your account? I tried making a $600 BTC buy order and another $600 LTC buy order, the second order pop up an error saying "not enough balance"  

Again, "BUY ALL" means "Take everything that is available RIGHT NOW and buy all of it"

If that is the case, then why it doesn't cancel a pending buy order if you click BUY ALL and make another order?
Why would it use the whole account balance if I already used a portion of it to make an order?

[Sawadekub]

hi bitfinex..

i know once your hot wallet gets empty, u guys will refill it up with your cold wallet... do u guys have only 1 cold wallet or many? from what i know once a cold wallet is activated online there is risk! and then the cold wallet becomes a hot wallet too

https://www.youtube.com/watch?v=wzwWIDIVSTo

[Sukrim]

I don't think you do really understand how Bitcoin works or what hot/cold wallet means... the only thing that changes after the first transaction out of a cold wallet is that the public key of that address is now known. As long as you trust in ECDSA, this is not really an issue. Also it is easy to see (if you look at where the transactions to the hot wallet come from) if they use a single address or several ones.