Quote from: Jameve on April 13, 2015, 11:07:46 PM

Quote from: Mythoughts on April 11, 2015, 10:36:53 AM

Quote from: Jameve on April 11, 2015, 01:11:34 AM

Quote from: zanetackett on April 10, 2015, 05:32:07 AM

Quote from: PRab on April 07, 2015, 05:05:30 PM

Looks like its been a little over a year since the last Bitfinex Audit. Any word if/when another will be happening?

We will have an announcement in regard to this in the coming weeks. It will be a pretty big announcement and we're looking forward to it and hearing what the community thinks.

Hi Zane,

I looked at the Bitfinex LTC/USD chart and I am disturbed to see that is no speed bumps for LTC. To be clear, I am referring to the sudden drop on April 9th, about 4:25 AM EST. The price dropped from about $1.57 to about $0.98 or a -37.57% drop in the span of ~2-5 minutes. Why speed bumps for BTC and not LTC? Makes me lose a bit of confidence in the platform seeing that and I don't even trade LTC (nor am I bullish on either BTC or LTC right now to consider a long). Are there still speed bumps for BTC/USD? In the event it doesn't function as intended, does that mean Bitfinex will roll back trades?

Thank you for your time

In the google hangout interview this week, they said there's still a mechanism that throttles orders which would move the market by more than 10% but that this throttle wasnt needed in months (link: https://www.youtube.com/watch?v=Mk4Dl4aaBuo , was somewhere in the 2nd half iirc ). But that was about BTC/USD. They didnt say anything about LTC in that regard.

Thank you for the link! I just don't think it is much of a stretch to include the same throttling for all coins on the platform if they want to avoid having their lenders actually lose money on some serious cascading margin calls.

We don't want to have to throttle orders and only do so in extreme cases. We haven't throttled any orders since before January. I think the important thing to remember here is that the market moving quickly in one direction alone doesn't warrant intervention via throttling. What I was referring to in the video linked above was that we would only throttle an order(as in singular) that would move the makret ~10%. If the market takes a quick downturn and there aren't any of these types of orders, we won't step in to throttle anything as the market is collectively moving downwards, not one extreme order.

If there's anything you would like me to clarify, please let me know.