Everyone,
I'd just like to point out that if we did not have stopped the trading engine, the cascading effect of liquidations would have been terrible (just look at the charts already).
So we DID make the right choice in halting the trading engine to avoid this situation by letting price calm down a bit.
One day the Bitcoin market will become mature enough to support this level of volume, right now it isn't;
THanks for your comprehension
Raphael
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/D8TqTksBitfinex's order book -
http://imgur.com/AKh049tBased 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!
Hello,
Please send an email to
support@bitfinex.com and we'll take care of it (if already done it will be tajen care of)
Thank you for your comprehension
Raphael