Quote from: MAbtc on February 10, 2014, 01:28:17 PM

Quote from: unclescrooge on February 10, 2014, 01:19:25 PM

Guys,

Even if there was enough BTC on our Bitstamp account, trading would have been halted. Why? Because we would also have "wiped out" Bitstamp orderbook with the cascade of liquidations that were just about to happened. So it's not a matter of having enough funds where or whatever, it's a matter of an illiquid market that became very volatile, and millions of dollars of leveraged positions that would either evaporate or be preserved by calming things down.

If you think you have undue losses because of the halting of trading, please write to support@bitfinex.com and your case will be examined within a few DAYS.

Thank you for your comprehension,
Raphael
Bitfinex team

So, without any stated policy, you simply halt trading and/or refuse to execute trades that will cause a string of forced liquidations? You guys need to state a policy and stick to it. You can't just play God.

I guess the Bitfinex owners are learning as they go along like anyone in business in a fledgling industry. I would put this down to growing pains and that they are learning from their mistakes and would come out stronger and more experienced after this. I doubt they are doing anything with malicious intent, they are just a small business venture with a handful of staff who are going to make honest mistakes. I can understand your frustration though if you feel aggrieved by the situation. Hopefully they will find a solution to prevent this from happening again.