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unclescrooge

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aka RaphyHero MemberActivity: 868Merit: 1000 Re: [BETA]Bitfinex - Leverage trading with bitcoins November 12, 2012, 09:22:35 AM #62



Some exciting news this week!

First as we said earlier, we cleaned up our database and our code from any types that could lead to inaccurate accounting (float type for the programmers).

Then, our users probably saw that the spread is much tighter these days. We decided to separate mtgox trading fees from the spread. Hence a 0.5-0.6 average spread.



But the more important news is that I signed a GPG contract with



As always, don't be afraid to try bitfinex and if you have any questions, ask us by email.

Raphael Anyway,Some exciting news this week!First as we said earlier, we cleaned up our database and our code from any types that could lead to inaccurate accounting (float type for the programmers).Then, our users probably saw that the spread is much tighter these days. We decided to separate mtgox trading fees from the spread. Hence a 0.5-0.6 average spread.But the more important news is that I signed a GPG contract with myself (the bitcointalk user). Myself will, as a consultant, help us to improve and secure our platform still currently in beta. In the coming weeks, we will implement these changes. Amongst them will be: an order control to avoid spamming orders, a public orderbook and a sentiment index (bullish/bearish).As always, don't be afraid to try bitfinex and if you have any questions, ask us by email.Raphael

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LegendaryActivity: 938Merit: 1000chaos is fun... damental :) Re: [BETA]Bitfinex - Leverage trading with bitcoins November 12, 2012, 03:09:33 PM #64 Quote from: unclescrooge on November 12, 2012, 09:22:35 AM

But the more important news is that I signed a GPG contract with myself (the bitcointalk user). Myself will, as a consultant, help us to improve and secure our platform still currently in beta. In the coming weeks, we will implement these changes. Amongst them will be: an order control to avoid spamming orders, a public orderbook and a sentiment index (bullish/bearish). I like to say /signed Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.

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aka RaphyHero MemberActivity: 868Merit: 1000 Re: [BETA]Bitfinex - Leverage trading with bitcoins November 14, 2012, 12:00:57 PM #66 Quote from: davout on November 12, 2012, 12:05:07 PM Quote from: unclescrooge on November 12, 2012, 08:51:55 AM We change the database schema, and the code, mostly ".to_f" > "to_d" (and sometimes the developer forced that to make sure of the type even).

Good answer



A harder one now : What do you think about the whole architecture, to be more precise, about the fact that everything runs inside resque workers leading to potential race conditions, and unexpected behaviour ? Did you make any changes to the way things run and the order in which they run ?

Good answerA harder one now : What do you think about the whole architecture, to be more precise, about the fact that everything runs inside resque workers leading to potential race conditions, and unexpected behaviour ? Did you make any changes to the way things run and the order in which they run ?

Hi,



This is the next major code change. While we changed the way hedging is made and assets balances are accounted, and move some of the database update, there is still a lot of database call/update from resque workers. So the next step is to move every database call to models, along with a major trading organisation change (that will make a lot of code obsolete) that we are working on with Myself.





Quote from: naima53 on November 13, 2012, 06:08:15 PM https://bitcointalk.org/index.php?topic=124095.0

I'll try to bring the Russian-speaking audience.





16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2 If this causes a good result, I would be happy to get a small donate16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2

I'll try to bring the Russian-speaking audience.

It would be a pleasure, thanks Naima





Ichthyo, I realise my answer was quite short about the hedging of position. For now, what we have done to avoid potential unhedged position is to lower the spread (avg. of 0.06 these days) and to increase the base interest used to charge position. Right now a USD deposit (and short position) is remunerated at over 16% a year, while long position are charged at almost 30% a year. The idea is to encourage short term trading and discourage long term position until balances are restored. Because each time a user close and open a new position, the system check the balances and hedge accordingly.

There are options that we're working on, like deposit only accounts (for people who want to accrue interests and are not interested in trading), and the change that I talked above.



Anyway thanks for your post

Raphael Hi,This is the next major code change. While we changed the way hedging is made and assets balances are accounted, and move some of the database update, there is still a lot of database call/update from resque workers. So the next step is to move every database call to models, along with a major trading organisation change (that will make a lot of code obsolete) that we are working on with Myself.It would be a pleasure, thanks NaimaIchthyo, I realise my answer was quite short about the hedging of position. For now, what we have done to avoid potential unhedged position is to lower the spread (avg. of 0.06 these days) and to increase the base interest used to charge position. Right now a USD deposit (and short position) is remunerated at over 16% a year, while long position are charged at almost 30% a year. The idea is to encourage short term trading and discourage long term position until balances are restored. Because each time a user close and open a new position, the system check the balances and hedge accordingly.There are options that we're working on, like deposit only accounts (for people who want to accrue interests and are not interested in trading), and the change that I talked above.Anyway thanks for your postRaphael

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Hero MemberActivity: 602Merit: 500 trailing Stop not working November 16, 2012, 06:23:34 PM #67



This could indicate any of the following:

the adjustments to the actual rate of an trailing stop order aren't displayed in the orders overview

I didn't get a trailing stop order, but just a normal stop order

trailing stop orders are really broken, can we sure they work at all?

Anyway, just wanted to bring that to your attention.

Trailing stop orders aren't terribly useful most of the time, but they might be useful exactly in such a situation. But if they don't work reliably, they should better be removed.

during the start of that race I tried the "trailing stop" order type. Unfortunately it doesn't seem to work as expected -- or rather it doesn't work the way we know from Bitcoinica. I would expect the execution point of this stop order to be "dragged up alongside" when the market moves up. What actually happened is that the rate displayed in that trailing stop order just stuck to the value I entered when placing the order.This could indicate any of the following:Anyway, just wanted to bring that to your attention.Trailing stop orders aren't terribly useful most of the time, but they might be useful exactly in such a situation. But if they don't work reliably, they should better be removed.

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Hero MemberActivity: 602Merit: 500 Display/Layout glitch November 16, 2012, 06:30:28 PM #68 Did you change antything regarding the Page CSS or Layout?



When I don't maximise the browser window, the side pane with the "Account overview" wraps below the main trading pane. Observed this with Firefox (Iceweasel, Debian stable) 3.5, but also with a newer Firefox 16. On the latter (Ubuntu) also the labels in the Account overview wrapped into the next line. E.g. "Required margin" wraps. Even larger numbers do wrap into the next line.

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LegendaryActivity: 938Merit: 1000chaos is fun... damental :) Re: Display/Layout glitch November 16, 2012, 06:37:26 PM #69 Quote from: Ichthyo on November 16, 2012, 06:30:28 PM Did you change antything regarding the Page CSS or Layout?



When I don't maximise the browser window, the side pane with the "Account overview" wraps below the main trading pane. Observed this with Firefox (Iceweasel, Debian stable) 3.5, but also with a newer Firefox 16. On the latter (Ubuntu) also the labels in the Account overview wrapped into the next line. E.g. "Required margin" wraps. Even larger numbers do wrap into the next line.

the "trading area" have a minimum size and the "side area" does not fit on your browser window the "trading area" have a minimum size and the "side area" does not fit on your browser window Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.

myself



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LegendaryActivity: 938Merit: 1000chaos is fun... damental :) Re: [BETA]Bitfinex - Leverage trading with bitcoins November 16, 2012, 06:53:03 PM #71 why you dont use this https://addons.mozilla.org/en-US/firefox/addon/stylish/ Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.

myself



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LegendaryActivity: 938Merit: 1000chaos is fun... damental :) Re: [BETA]Bitfinex - Leverage trading with bitcoins November 17, 2012, 05:04:58 PM

Last edit: November 17, 2012, 05:38:07 PM by myself #74 Quote from: Ichthyo on November 08, 2012, 06:56:37 PM But the problem is: there is a promise for the account holder to be able to withdraw any time (just a short security timespan to confirm the withdrawal, but no limitation on the amount). On the other hand, there is no way to make any users close their positions. Thus, when a user withdraws, he re-calls money which is bound into a position on the market, with unlimited duration. Assuming this situation, the platform is forced to turn into a "bucket shop", even if unclescrooge never wanted to do this: Assumed there are no further reserves, the platform is forced to close some positions internally to get the money for the withdrawal request, while keeping those positions opened nominally. So effectively the platform is forced to take a counter position to these internally closed positions, i.e. bet against the user.

Some stock brokers do have to recall the stock because then owner needs them and some ppl do have to close their short position (only if you short you are forced to give back the stock) this option is set and on the contract and when the user borrow the stock to short he does agree to this, another way that some broker deal with this is to put a max time for short positions, is also true that on stocks ppl dont take position overnight to often and over weekend even less, bitcoin users do tend to keep a position for long time and In my opinion swap cost can give the incentive to take profit if the position does not make more money







another option is to put a X days delay for the withdrawal, basically you lend the money for a fixed amount of time and no withdrawal can be done until the time expire on a similar way banking was done on the gold standard



imo on the long run bitcoins needs several clearing houses that can act like lender of last resort





i am drafting now a possible solution to the above problem Some stock brokers do have to recall the stock because then owner needs them and some ppl do have to close their short position (only if you short you are forced to give back the stock) this option is set and on the contract and when the user borrow the stock to short he does agree to this, another way that some broker deal with this is to put a max time for short positions, is also true that on stocks ppl dont take position overnight to often and over weekend even less, bitcoin users do tend to keep a position for long time and In my opinion swap cost can give the incentive to take profit if the position does not make more moneyanother option is to put a X days delay for the withdrawal, basically you lend the money for a fixed amount of time and no withdrawal can be done until the time expire on a similar way banking was done on the gold standardimo on the long run bitcoins needs several clearing houses that can act like lender of last resorti am drafting now a possible solution to the above problem Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.

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chaos is fun... damental :)







LegendaryActivity: 938Merit: 1000chaos is fun... damental :) Re: [BETA]Bitfinex - Leverage trading with bitcoins November 17, 2012, 05:09:46 PM #75 Quote from: XVacant on November 17, 2012, 09:00:27 AM Bug report:

When I place an buy order to liquidate my short position, the following message is shown: "Invalid order: not enough balance".



so far there is no check to see if you have a position open the platform did consider your order a new order a workaround this is to use a small amount that will fit your balance



hope it helps so far there is no check to see if you have a position open the platform did consider your order a new order a workaround this is to use a small amount that will fit your balancehope it helps Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.

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aka RaphyHero MemberActivity: 868Merit: 1000 Re: [BETA]Bitfinex - Leverage trading with bitcoins November 17, 2012, 05:27:07 PM #76



Sorry about that, too much control. I corrected that, you should be able to close your position.



Currently we were considering closing position as market order and controlled your balance like a normal market order. I removed this control so that position can be closed no matter what.



If it did cause you any loss hit me on



While I'm at it we're working hard on a major update, this is going to be legend... wait for it... dary!



Raphael XVacant,Sorry about that, too much control. I corrected that, you should be able to close your position.Currently we were considering closing position as market order and controlled your balance like a normal market order. I removed this control so that position can be closed no matter what.If it did cause you any loss hit me on admin@bitfinex.com so I can compensate for this.While I'm at it we're working hard on a major update, this is going to be legend... wait for it... dary!Raphael

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Hero MemberActivity: 547Merit: 500Decor in numeris Re: [BETA]Bitfinex - Leverage trading with bitcoins November 18, 2012, 01:52:35 PM #77 Quote from: naima53 on November 04, 2012, 11:36:38 AM Or It is not allowed to make a platform based on an existing ? ...

Who said that the platform is stolen?Or It is not allowed to make a platform based on an existing ? ...

Not if the existing platform is copyrighted.



Bitcoinica imploded before I had even heard about it, but wasn't the code released as open source? If so, it should be OK - at least if the guys releasing it as open source had the copyright when they did it (and I seem to remember that there is some controversy hidden here too). If not, reusing code that someone else has copyrighted it ... well ... asking for trouble.

Not if the existing platform is copyrighted.Bitcoinica imploded before I had even heard about it, but wasn't the code released as open source? If so, it should be OK - at least if the guys releasing it as open source had the copyright when they did it (and I seem to remember that there is some controversy hidden here too). If not, reusing code that someone else has copyrighted it ... well ... asking for trouble.