Quote from: bezzz on January 06, 2015, 02:19:07 PM

Strange thing here is that stevec seems to be the only person with such problems. They have has several markets and if you take a closer look you'll see there appear to be several mm's, operating on the exchange. And no other claim. Why? If, as you say, they are about to shut down, there should be at least >1 complain of not paying out. Seems like this story might be a little bit more complicated.

First, if you look at their market data for the major pairs (BTCUSD, BTCEUR, BTCLTC), you can see that nobody is quoting to fulfill the market maker requirements. I saw this before I started market making, and I see it now. Effectively I was the only market maker.

For example, their smallest level of participation requires 1 BTC per side at <= 0.3%. Current market depth on BTCUSD is this:
http://s14.postimg.org/96j58xzz3/hitbtcdepth.jpg

http://s14.postimg.org/96j58xzz3/hitbtcdepth.jpg

So the current spread for 1 BTC is 296.33 / 300.57. Thats a 1.43% spread, so clearly > 0.3% they require. You can repeat the same process for the other levels and pairs and you'll see that nobody is quoting tight enough to meet their requirements.

Second, if there was some other explanation surely they would have responded to my complaint on their own forums: https://forum.hitbtc.com/discussion/9/hitbtc-not-paying-out-on-market-making-bonuses

They have never responded to me, either publicly or privately to explain why they never paid the money they owed.

I have full logs of my market making activity, and a full email trail of the discussion with their customer rep "Andrus Holm", up until the point at which I asked what had happened to the payment. From that point on, nobody has responded to any emails regarding the issue, and any support tickets I open are just closed without comment.

/Steve

stevec

Posts

Merits