trading illiquid markets is very much a zero-sum game, as Giancarlo mentioned.
Trading any currency or commodity, regardless of how liquid or illiquid it is, is a zero-sum game. USD, EUR, Oil, Gold, Silver, whatever. It is all a zero sum game.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
Well, if it's not allowed, then they should SAY IT. Also, the performance history is gone too. So I doubt it is because they don't allow this. Something about past stats is gone
Maybe it has something to do with the migration to the new server? Maybe they haven't moved all the data yet?
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
I bought 2000 LTC @ 1 , 2000 LTC @ 1.5$ and 6xx LTC @ 3,01$. 2000 of those went missing. So the 1.5$ trade was ok but the 1$ trade wasnt? ViceVersa?
So you get to keep 2600 LTC that you bought at an 80-90% discount? If I were you, I would be super happy about the easy ~$26000 that I won instead of complaining.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
What do you think that i should do? I am 100% sure that I own these 2000 LTC and they should be on my account.
Suppose you were the counter party to this trade and you accidentally (nothing to do with margin calls) sold your LTC at 90% below market value. Would you not expect bitfinex to nullify these transactions?
Or suppose bitfinex screwed up and there was a problem with their trading engine - do you think it is fair that they should be penalized thousands and thousands of dollars?
Do you want a fair trading system or do you want a shark tank free-for-all?
There is plenty of money to be made ethically. There is no need to behave like we are in the jungle.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
Yesterday at 11:45 Middle european time I noticed that the orderbook deapth of the bid side was very low. So i decided to place a couple of very low offers there. When i placed my first order of 2000 LTC @ 1$ it got executed within minutes and I saw the USD being deducted and the LTC added to my account. Everything fine so far. The order number of this is the following:
TXID: 4269089 2000LTC Executed @ 1.0(2000.0)
After this i placed another order at 1.5$ for another 2000 LTC. This order too was Executed within minutes and added to my account, the 3000$ were deducted immediately too. Everything looked right then.
TXID: 4269124 2000LTC Executed @ 1.5(2000.0)
You should not have been able to buy LTC at $1 each. If this was caused by a software glitch at Bitfinex then it is reasonable for them to void the transactions - that is what NYSE and NASDAQ and any other exchange do.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
Trading fees for 14.8912 LTC @ 11.0 on BFX (0.15%) on wallet trading 0.24570529 1864.10172209 Position #51612 closed @ 13.3501 on wallet trading 11.99414261 1864.34742738 Trading fees for 0.0044 LTC @ 11.0 on BFX (0.15%) on wallet trading 0.0000726 1852.35328477 Trading fees for 78.5689 LTC @ 12.0 on BFX (0.15%) on wallet trading 1.41423955 1852.35335737 Trading fees for 50.0 LTC @ 12.51 on BFX (0.15%) on wallet trading 0.93825 1853.76759692 Trading fees for 130.0 LTC @ 12.05 on BFX (0.15%) on wallet trading 2.34975 1854.70584692 Trading fees for 1.6522 LTC @ 11.5 on BFX (0.15%) on wallet trading 0.02849996 1857.05559692 Trading fees for 10.76 LTC @ 11.5 on BFX (0.15%) on wallet trading 0.18561046 1857.08409688 Trading fees for 1.0523 LTC @ 10.4 on BFX (0.15%) on wallet trading 0.01641581 1857.26970734
why did i only got 11 dollars :S ?
It's not clear which of these are buys and which are sells. Post your buys/sells history if you want our opinion.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
Operating a Contract-for-Difference requires a real trading account at some market place. This trading account has the size of all Bitfinex user's positions netted / aggregated. When this backing exchange (or the API link to that exchange) goes down, Bitfinex looses the ability to run its financial construction. But when the actual Bitfinex engine itself continues to work, the platform is able to continue its calculation in theory according to the rules. Thus, this situation creates a gap between the nominal state of affairs, and the actual monetary situation for Bitfinex itself -- and without any doubt the company has to absorb this difference, up to the limits where it goes bankrupt. But such a decoupling of nominal an real position could also create an unexpected revenue for Bitfinex, just depending on the real market movement. It's an interesting question how to deal correct with such a situation (in both legal and moral sense)
At this point, this is a non issue. Bitfinex has enough internal volume to maintain pricing reasonably close to other exchanges without needing a direct link to them.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
2 - Sell all at market and end up with, for example, USD 900. 3 - Wait for 1 day, then buy all at market when the btc price has gone down to USD 850.
Why can't I spend the entire USD 900 amount that's in my exchange wallet? Because it gave a warning at step 3 and said not enough margin. Can I only spend (USD900 - 10% = USD 810)?
Note I'm not doing a margin trade here, just an straight buy at market exchange order.
Minor: You can't spend the entire $900 on coins because you also need to have enough funds to cover the transaction fees.
Major: You must specify the quantity of coins that you are buying. You can't put a "give me as many coins as I can get for $900" order; you have to specify that you want 1.04 coins.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
rioshoosh
on 10/12/2013, 02:30:42 UTC
Giancarlo,
I have been using Bitfinex for a while and finally decided to register on the forum today to let you guys know that you have been doing a great job with it. There are still some things that need polishing but, overall, well done!
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Re: How to transfer bitcoins from wallet over to Bitstamp account
A year ago, there were 0 ATMs. Adoption and ease of use will keep growing but this is a process ... it will not happen overnight. For now, you either need to provide the requested documents or stick to in person trading.
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Re: Bitcoins VANISHED from wallet!?!?!
by
rioshoosh
on 09/12/2013, 22:05:29 UTC
Remember that you can search blockchain based on your address, not just the transaction id. This may provide you with some insight into what took place.