Post
Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
Bagpipe
on 21/01/2015, 09:50:09 UTC
This is just ridiculous...
None of us at Bitfinex take advantage of any inside information, and each of us monitors each other to make sure that we are behaving ethically.
I do not think bitfinex abuses their postion; but ANY user with access to TIMELY information on the market DOES abuse it heavily; the 2-5 second delay bitfinex has can cause me 2% losses on any market order trade. Because, by some MIRACLE, hundreds of other users decide to make the same market orders in the very same split of a second as I do. This Results in my orders many time given the worst pricing Smiley

But I do not think bitfinex employees are actively behind it. This is by design.

P.S. yes, the NYSE and such traders actively abuse it as well. The very same way. They can cut in line because they KNOW sooner and EXECUTE sooner. Especially because they are machines.