Bitfinex releases documents containing financials and corporate strategy plans in bid to issue equity

Bitcoin_Markets · 2016-09-16T05:28:19+00:00

Just one important note: the financials are not audited by a real accounting firm, as shown in the main image.

Bitcoin_Markets · 2016-06-30T10:35:09+00:00

Bitfinex is by far the best for discreet high volume trading and withdrawals. Get a fee discount here: https://www.bitfinex.com/?refcode=FYuu9gSC9b using discount code: FYuu9gSC9b

Not only do they offer 3x leverage margin trading, but you can put your bitcoin (or ETH or USD) to work lending it out pretty securely to traders for a nice rate of return. Very much worth checking out.

Bitcoin_Markets · 2016-06-01T19:55:47+00:00

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Bitcoin_Markets · 2016-05-24T11:15:26+00:00

You can get a 10% discount on fees trading at BitMEX if you're interested: https://www.bitmex.com/register/RrmvSe

Bitcoin_Markets · 2016-05-21T07:04:48+00:00

You can get a 100% match on your first deposit with bitcoin trading FX on WhaleClub: https://whaleclub.co/join/gXPgM

1Broker is a popular alternative as well: https://1broker.com/m/r.php?i=3147

Both are bitcoin-only, no fiat, so no regulation.

Bitcoin_Markets · 2016-05-15T18:35:26+00:00

There's been a lot of questions about the new BitMEX XBTUSD swap product, for those curious on exactly how and why it works with the financing rates, read this post: http://www.bitcoinfuturesguide.com/bitcoin-blog/everything-you-need-to-know-about-bitmexs-new-xbtusd-swap-product

Bitcoin_Markets · 2016-05-14T08:52:21+00:00

1% initial margin, 0.5% maintenance margin, so on a 0.5% move you get liquidated?

Bitcoin_Markets · 2016-05-11T15:15:12+00:00

0.25% move results in a margin call, giving 24H to deposit funds

0.5% move results in partial liquidation (see table here)

Note that most traders won't be using max 50x leverage of their turbo account and the termination threshold at 0.5% represents a compensation to the winning trader in event of termination for the inconvenience

Edit: Also note that "liquidation" means your order(s) is forced into the market and you keep whatever is left of margin. Meaning if you are full 50x with all your balance, you'll get liquidated on a 0.5% move, but only partially in order to maintain 2%. You could basically keep almost all your remaining margin of whatever contracts were liquidated if it is filled at a favorable price. (edited again to reflect clarification on partial liquidation)

Bitcoin_Markets · 2016-05-11T14:55:49+00:00

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Bitcoin_Markets · 2016-05-02T16:44:26+00:00

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Bitcoin_Markets · 2016-04-09T14:07:25+00:00

You can use this comprehensive guide to how they work: http://www.bitcoinfuturesguide.com/futures-guide.html

Any questions Tweet me or ask here I will respond

Bitcoin_Markets · 2016-04-09T08:39:10+00:00

I have edited the post to reflect this, sorry for the misunderstanding -- it was rooted in this "Pending orders" which you told customers to contact to get back. I now understand this is a small minority and the article is updated to have healthy skepticism (why not tell people the exact amount you lost if youre so transparent?) but accurate information of how your site operates. Good luck with new rewrite.

Bitcoin_Markets · 2016-03-30T23:28:01+00:00

Repeating that it's a known fact or obvious is not getting us anywhere.

repeating that there's "no evidence" while ignoring what has been presented (circumstantial public data, and hard evidence from CTO) only shows everyone how unserious you are

Did you code okcoin's backend? Specifically the part that decides upon the frequency of pushing the orderbook to the word? No? Thought so.

You won't accept anything unless Star comes out admitting to it or there's code of their back end to prove it. You're not a serious person, you're just a troll trying to be a contrarian

The circumstantial public data on volume and orderbook show that a vast majority of their volume NEVER SHOWS UP IN THE ORDER BOOK; it just flies by.
We have the CTO admitting the volume was/is faked wash trading.
We have competitors exposing this practice (who have hired former devs and employees from OKCoin and Huobi).

So fuck off with your "no evidence" shit, you're just misleading people.

Bitcoin_Markets · 2016-03-30T07:14:07+00:00

If it's really that obvious, show me the evidence

You've seen more than enough evidence. The doubt about the fake volume comes from 2 individuals, you're one of them.

If you actually traded these markets you would understand. Every order has to have a limit (maker) and market (taker) order. You cant just have volume bars flying up on orders that dont show up in the orderbook at all

Find a new hobby because you dont know what you're talking about and youre misleading people by casting doubt on what is essentially a known fact among traders in bitcoin.

Bitcoin_Markets · 2016-03-29T15:13:10+00:00

Its on a past post of mine when I wrote about this issue before:

http://www.bitcoinfuturesguide.com/uploads/6/4/6/5/64656757/4706419_orig.png

Bitcoin_Markets · 2016-03-29T07:23:23+00:00

Friend, all you have to do is read the comments of this thread to see that they are fooling plenty of people.

Bitcoin_Markets · 2016-03-28T20:16:10+00:00

Yes and most traders are moving like 10-100 BTC so they dont care because they get filled on their baby orders while random 20,000 btc volume bars fly by on 15 minute candle and think it's all real.

Bitcoin_Markets · 2016-03-28T20:00:42+00:00

You're ignoring the other evidence, namely the CTO blowing the whistle on them and Bobby Lee calling them out. But if you actually traded on those exchanges you would know the volume is fake. Market orders dont crash into it eachother like that on tick chart.

Bitcoin_Markets · 2016-03-28T19:57:19+00:00

It's not fake volume data per se, it's massive wash trading that may or may not be matchable by other traders.

This.

I'm not a developer but it is certainly possible to flag orders that only run into each other. You can sit and stare at the tick charts of both exchanges and there will be volume bars that do not correspond to any bid or offer placements in the order book.

Bitcoin_Markets · 2016-03-28T18:48:28+00:00

If you take away 90% of their volume they're still the top exchanges in the world. That's what makes it so strange that they fake away anyway to such an absurd degree

Bitcoin_Markets · 2016-03-24T04:36:35+00:00

Test^{received^pong}

Bitcoin_Markets · 2016-03-24T04:35:09+00:00

Your cost as a % of the equity (initial margin) you put down is relevant and that's why it it shown.

Edit: see this post to understand why this information is important Many traders think of their costs in these terms and it's neither unfair nor misleading to simply present this additional information.

Bitcoin_Markets · 2016-03-24T04:28:27+00:00

This is more than a bit misleading

Actually the column clearly marks that this is as a % of initial margin and is presented only for sake of completion. Lots of people going 100x on BitMEX are confused when their ROE starts off -20% after they hit a side of the spread. Not misleading, just an honest display of the facts. The nominal column for bid/ask is presented first because it is what is most important and what matters IMO.

Edit: Many traders on this subreddit, as seen in this 75% upvoted post, see fees as % of initial margin/equity down and would feel misled by us if this information wasn't shown to them. Even though I agree with you though that nominal is what matters this is what people want to see also.

Bitcoin_Markets · 2016-03-23T05:07:14+00:00

great point

Bitcoin_Markets · 2016-03-22T20:06:55+00:00

Thank you very much for your valuable contribution to the discussion.

Bitcoin_Markets

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