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

[urwhatuknow]

When you go on a long position leveraged, how do you save the most money from swap rate?  Does the system itself save you the most money (by constantly finding the lowest rate) or do you you yourself save more money by continually finding the lowest rate yourself ?

it's the latter

have a good day

Giancarlo
Bitfinex Team

[Sukrim]

Another feature request (minor annoyance):
When cancelling a swap offer, the swappable balance (displayed on the right below "Account overview") is not updated.
This means I have to reload the page to be able to click the "Offer all" button (since until then it assumes I have still only the old balance available for offers).

AAAND it is already fixed!

Thanks a lot, unclescrooge/Raphy!

[MustMan]

Their PR is pretty bad on this forum. He outed someones balance on another thread here https://bitcointalk.org/index.php?topic=660948.msg7450158#msg7450158.

Anything to say about that urwhatuknow? unclescrooge? I know you are responding to people making accusations but that is a little too much shit talking for such a large exchange.

Remember what happened to the last exchange run by a french guy?   Just kidding I love bitfinex and I hope it goes on strong. Please don't tell people how poor I am!

MatTheTwat is playing the big guy and throwing mud at us all the time, his mantra is calling us cheaters and accusing us to play tricks on him in order to steal his money.
I didn't reveal his balance, I just mentioned the fact that he had about 2.5 BTC, which by the way was not the exact amount he had (which was afterwards disclosed by himself).
This exposed the real enity of his accusation, he's nothing more than a whining kid blaming his poor trading skills on somebody else.
I think he deserved such treatment and the result was that he pulled out his belongings and luckily took his business elsewhere.  

Last but not least our team is formed by 2 french, 2 italians, 1 dutch and 1 american.

Do you have any racist comment also on other nationalities?

Giancarlo
Bitfinex Team

If a mad dog bite you, you bite it back like a mad dog did??

If that is not a mad dog and you consider it a mad dog and bite it , then you are truly a mad dog living only in your own paranoid.

Don't give yourself any excuse talking rude and irrationality like that!

Remember you represent the whole Bitfinex Team, if you really like mad dog behaviour you better change into another unknown Id that suite your taste best.

Last but not least we don't need any PR mad dog here and no reason deserve such treatment on Official Bitfinex forum.

[m5j0r]

I think he has the right to defend himself of course, in a classy way.

One point I'd like to stress here directed @BFX is: Never ever disclose any customer data, nothing. Privacy is the most important value besides digital and financial safety.

[urwhatuknow]

Their PR is pretty bad on this forum. He outed someones balance on another thread here https://bitcointalk.org/index.php?topic=660948.msg7450158#msg7450158.

Anything to say about that urwhatuknow? unclescrooge? I know you are responding to people making accusations but that is a little too much shit talking for such a large exchange.

Remember what happened to the last exchange run by a french guy?   Just kidding I love bitfinex and I hope it goes on strong. Please don't tell people how poor I am!

MatTheTwat is playing the big guy and throwing mud at us all the time, his mantra is calling us cheaters and accusing us to play tricks on him in order to steal his money.
I didn't reveal his balance, I just mentioned the fact that he had about 2.5 BTC, which by the way was not the exact amount he had (which was afterwards disclosed by himself).
This exposed the real enity of his accusation, he's nothing more than a whining kid blaming his poor trading skills on somebody else.
I think he deserved such treatment and the result was that he pulled out his belongings and luckily took his business elsewhere.  

Last but not least our team is formed by 2 french, 2 italians, 1 dutch and 1 american.

Do you have any racist comment also on other nationalities?

Giancarlo
Bitfinex Team

If a mad dog bite you, you bite it back like a mad dog did??

If that is not a mad dog and you consider it a mad dog and bite it , then you are truly a mad dog living only in your own paranoid.

Don't give yourself any excuse talking rude and irrationality like that!

Remember you represent the whole Bitfinex Team, if you really like mad dog behaviour you better change into another unknown Id that suite your taste best.

Last but not least we don't need any PR mad dog here and no reason deserve such treatment on Official Bitfinex forum.

You are absolutely right, I definitely suck in being nice and politically correct with people that throw mud at Bitfinex with no reason.
We recently decided to hire a PR guy that will also become our speaker, a well respected guy that will surely do a better job than me ( that's easy! ) in being loved by you all.
Stay tuned for more news.

Giancarlo
Bitfinex Team

[urwhatuknow]

I think he has the right to defend himself of course, in a classy way.

One point I'd like to stress here directed @BFX is: Never ever disclose any customer data, nothing. Privacy is the most important value besides digital and financial safety.

Good point.
I agree with you 100%.
But one thing is to disclose customer data, another is to show evidence of the fact that some people on this forum play the big guys and they are actually just balloons inflated with hot air.
If you were playing with a couple of satoshis on your account and at the same time running around blaming others of stealing because you lost one of them (due to your scarce comprehension of how trading works) don't you think that the entity of your "claimed damage" should be exposed by the party that has been accused?
Privacy is important and nobody disclosed the identity of anybody.
To say "somebody" ( not disclosing his identity ) is making false accusations because he lost a couple of bucks has nothing to do with privacy.
It's only disqualifying the accusation by taking it into the right perspective.

Have a good day

Giancarlo
Bitfinex Team

 
 

[0x3d]

You are absolutely right, I definitely suck in being nice and politically correct with people that throw mud at Bitfinex with no reason.
We recently decided to hire a PR guy that will also become our speaker, a well respected guy that will surely do a better job than me ( that's easy! ) in being loved by you all.
Stay tuned for more news.

Giancarlo
Bitfinex Team

So my longish "rant" wasn't figthing windmills after all.

Very bullish decision. Can we have our CCMF now?

[m5j0r]

@urwhatuknow: I understand how you feel about the forums, it can be quite aggravating at times. I'd still prefer not saying any users balance. It doesn't disclose his identity, but links a certain balance to his account at Bitcointalk.
If you're dealing with customers you will always encounter people like him. Especially with such an emotional topic like money. It's worse when they're uneducated and/or unfriendly.

I've had a good experience with BFX so far.

[PirateHatForTea]

Revealing information about a customers balance, even approximate balance, is never OK. Giancarlo, I think it would demonstrate a level of maturity not otherwise present in your posts responding to MatTheCat if you would apologize for making the comment about his 2.5BTC. You are capable of apologizing for things aren't you?

This would also give us some confidence that you will not deal fast and free with customer info in future, even in a moment of anger.

I would also like to know where we could find reliable ticker data for the period MTC refers to, as I don't believe that data from BTCWisdom that lumps everything at only 2 prices (600/608).

Finally and most importantly, I think we'd all like to understand better the logic used in the code to trigger and execute stop-loss orders. Slippage of $8 is by no means out of the ordinary in my book, but I would like to understand the conditions required to create such a poorly executing stop-loss, and the code logic that sits behind it.

For example, are stop triggers checked periodically, eg several times per second, or are the stop orders somehow folded into the bid/asks as existing but inactive orders and then activated after triggered?

Allow me to play out an example:
Let's say ticker price is at 600, I have a stop buy for 5BTC at 600.51, and there are 50BTC in asks between 600 and 600.51. Then a market order for 45BTC comes in (and takes price to 600.5), then 100ms later a market order for 6 BTC comes in (taking price to 600.51), but only 10ms later a market order for 100BTC comes in (which would take price to say 605). Does my stop buy get the chance to trigger in between the 6BTC and 100BTC orders? Or is it going to take time to trigger and end up behind the 100BTC order? What determines this? (Presumably the code, but that's what I want to know more about the logic of)

[PirateHatForTea]

https://bitcointalk.org/index.php?topic=667105.msg7533611#msg7533611

Interesting discussion going on.

Guys

Since when so called "moderators" are starting FUD threads?

Cui prodest?

Ask yourself this simple question and if your IQ is not lower than your shoe size you'll come up with the right conclusion.

Have a good day and a great weekend

Giancarlo
Bitfinex Team

That is hardly a FUD thread - it points out that there are a very large number of leveraged long positions on BFX - hardly controversial. Is a long squeeze suddenly impossible? Of course not. Blitz is right to point out the inherent risks here, and relies solely on facts.

You may not believe that these leveraged positions are going to be a problem, and you may be right, but it is just an opinion, the same that Blitz's thought that the leverage will unwind and cause a crash is an opinion. Neither are FUD.

[Spaceman_Spiff]

Could somebody explain how the trailing stop on bitfinex works (or point me to the right documentation)?

I understand the general principle, just not how it works in practice.

It seems you have to give up a price.  Does bitfinex then calculate the % difference to the current market price (bid, ask or latest trade?) and keeps that percentage away from the best price so far as a stop loss, or does it calculate an absolute difference (for example for long BTCUSD trade, if I set my price $10 lower than current price, will it allways keep $10 difference from highest price since starting the trailing stop order).

[jonsi]

Could somebody explain how the trailing stop on bitfinex works (or point me to the right documentation)?

I understand the general principle, just not how it works in practice.

It seems you have to give up a price.  Does bitfinex then calculate the % difference to the current market price (bid, ask or latest trade?) and keeps that percentage away from the best price so far as a stop loss, or does it calculate an absolute difference (for example for long BTCUSD trade, if I set my price $10 lower than current price, will it allways keep $10 difference from highest price since starting the trailing stop order).

It's an absolut diference. If you put a long position the difference remain fix as long as the price fall but when it start to rise the limit doesn't rise with it. If you put a short it's in the other way.

[Spaceman_Spiff]

Could somebody explain how the trailing stop on bitfinex works (or point me to the right documentation)?

It's an absolut diference. If you put a long position the difference remain fix as long as the price fall but when it start to rise the limit doesn't rise with it. If you put a short it's in the other way.

Ok, thanks !  (I think you mixed up long and short though  )

[jonsi]

Could somebody explain how the trailing stop on bitfinex works (or point me to the right documentation)?

It's an absolut diference. If you put a long position the difference remain fix as long as the price fall but when it start to rise the limit doesn't rise with it. If you put a short it's in the other way.

Ok, thanks !  (I think you mixed up long and short though   )

No, I didn't. I'll explain again: if you put a long with trailing stop (eg $10) the limit will lower with the price and maintain a $10 difference. If the prise start to rise the limit with not rise with it and will execute when the price of btc reach the limit order. It's a stop loss that can be used as take profit also if the price moves in your direction.


-edit-
   Just be careful with stop loss orders, when market moves fast they usualy will not execute at exact value that you set up.
-edit-

[ergofobe]

Can anyone tell me if there is a way through the Bitfinex API to cross reference completed trades with a placed order? For example, if I put a limit buy order for 5 btc @ 635, it may result in 4 or 5 actual trades executing before the order is complete. I'd like to be able to programatically identify all of these trades and their fees, so I can calculate how much I paid in fees on a particular order rather than having to guess at it.

The web interface seems to be able to do this cross reference fairly easy, but I don't see in any of the order or trade information returned from the API a way to do this cross reference reliably.

[Sukrim]

Hm, parsing the ledger for fees is not an option? See https://github.com/MarkusTeufelberger/bitfinex2ledger for example.

[runeks]

[...]

Regarding the streaming API we are sorry to keep you waiting. We will implement this after changing the internal architecture of our trading engine, which is a long shot.

[...]

Any news on this?

In any case, can you let us know how often we can poll the orderbook API (eg. https://api.bitfinex.com/v1/book/btcusd?limit_bids=100&limit_asks=100) without getting banned? Ideally, I would do it constantly (1. make one request, 2. when data is received goto 1.), but I'm afraid that I will get my IP banned. Can you clarify this please (and possibly write the information on your API documentation page)?

I think it would be sensible to allow this, since you don't have a streaming API. Bitstamp does not allow this, but they have a streaming API they can refer users to, which you do not.

[komar]

Hey guys, please tell me: is there a something I need to know to short LTC/BTC?
BTC is going up, LTC is going down, there are only USD in my trading wallet, and I got -1.341% P/L just after open a short position. What am I doing wrong? Could be any sense in this transaction? I should buy some BTC before I open a short position on LTC/BTC or what?
You don't need to explain much, just ask what should I do.

[runeks]

I used to use qt-trader on stamp... but I can't use it on finex because the api only updates every 7-9 seconds.. . this is obviously an eternity in the world of trading.

I can't speak for the other APIs, but the orderbook API seems to change more often than every 7-9 second: https://api.bitfinex.com/v1/book/btcusd?limit_bids=200&limit_asks=200

Try refreshing that continually in your browser. Sometimes it's updated every second.

[capoeira]

The Great Bitfinex Game!

1) Bitfinex will pay a bounty of 1 BTC for anybody that comes out with an idea that actually makes sense in order to improve our liquidity on Bitstamp
2) Anybody that will post an idea that is flawed, doesn't make sense, will never work for the reasons I will be honored to explain or just say things like " why don't you transfer to Bitstamp more money if 2 millions a day is not enough" will have to pay 1 BTC cent to the address:
1J14J1ZR11CsFKXyhneXpfVBp34ovQuh7C

All the coins collected by this game will be donated to www.seansoutpost.com , a homeless outreach in Florida accepting bitcoins.



Giancarlo
Bitfinex Team
 

best option:

discard old concept, start growing internal volume and be an internal only exchange


EDIT: you are now big enough for this.....PLUS: all the fiat you send to Bitstamp you can invest than in further expantion.

Hi Bitfinex, I saw that you finaly did it. Never recieved my Bitcoin ;-)