Is there some additional fee included, beyond the swap, or is the engine just updating with some (serious) delay?
it include mtgox fees since are the maximum fees 
Topic: [BETA]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 56. (Read 137528 times)
February 03, 2013, 06:19:53 PM
February 03, 2013, 06:18:50 PM
So this input tells me that the trigger price is at 1 $ ?
example for 1 usd trail stopso if the current price is 20.64 the trail stop starts at 19.64
February 03, 2013, 06:07:23 PM
Another observation: can you explain this P/L calculation.
When the position is 120 long with base price == $20.7013
And the current highest Bid is: MTGOX $20.75 160.1
Why then is the P/L calculated as: -$4.27 -0.171% -$0.20
Is there some additional fee included, beyond the swap, or is the engine just updating with some (serious) delay?
A similar situation can be observerd regularily.
February 03, 2013, 06:02:30 PM
example for 1 usd trail stop
So this input tells me that the trigger price is at 1 $ ? See my point?
IMHO it should read something like "below current Bid by" or similar.
Since, if it is labelled "price" and for normal stop orders you have to enter a price, what is the most natural conclusion from a users POV?
From a programmers POV this seems like nitpicking, I know, so never mind.
February 03, 2013, 01:03:03 AM
example for 1 usd trail stop
February 02, 2013, 04:40:52 PM
How do you build a trailing stop order?
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
http://community.bitfinex.com/showwiki.php?title=Trailing-stop
actual price: 12
trailing-stop:0,5 USD => stop is at 12-0,5=11,5 USD
you are telling the system to place and move a stop-sell at 0,5 USD below the top price
actual price: 12
trailing-stop:0,5 USD => stop is at 12-0,5=11,5 USD
you are telling the system to place and move a stop-sell at 0,5 USD below the top price
Would you mind clarifying that a bit?
The question is not that we want to set a trailing stop 0.5 below current price. The question is what you actually need to enter into the form.
Since for entering a normal stop order you type the price of the stop, the most obvious thing to assume is that you do the same for a training stop. (and in Bitcoinica it was indeed this way). Also, the text above the entry box is labelled "price", which confirms that assumption.
Is that correct? I have my doubts, since I did experiments and it didn't behave as I'd expect https://bitcointalksearch.org/topic/m.1494785
If the engine actually expected you to enter the difference (absolute) or the offset (signed) to current price, this would explain that observed behaviour.
February 02, 2013, 03:44:15 PM
Hello, I have a question.
How do you build a trailing stop order?
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
http://community.bitfinex.com/showwiki.php?title=Trailing-stop How do you build a trailing stop order?
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
February 02, 2013, 01:54:47 PM
Hello, I have a question.
How do you build a trailing stop order?
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
How do you build a trailing stop order?
Let's asume the prize is 20$. If you want to put a trailing stop 0,2 $ below. What do you need to fill in the prize 19,8 , 0,2 or -0,2? Thank you
February 02, 2013, 11:28:24 AM
Hi,
After some discussion, and because in the team we all believe in free market, we'll never cap the interests rates.
We'll take specific steps for the trader to make the best informed decision possible (and maybe introduce a novice trader level).
Raphael
just let traders select at which max rate they want to borrow! also the variable rate sucks, and i want to be able to choose not to borrow fund that way.After some discussion, and because in the team we all believe in free market, we'll never cap the interests rates.
We'll take specific steps for the trader to make the best informed decision possible (and maybe introduce a novice trader level).
Raphael
Also a bug:
if you close some of your borrowed funds that are used in an active position, there is a big delay where the position remains active and does not automatically reduce. reward goes to: 1t4pSEM2xyzCeGGNJMGSq3EnYoSeyR9ys
February 02, 2013, 11:19:06 AM
Hi,
After some discussion, and because in the team we all believe in free market, we'll never cap the interests rates.
We'll take specific steps for the trader to make the best informed decision possible (and maybe introduce a novice trader level).
Raphael
After some discussion, and because in the team we all believe in free market, we'll never cap the interests rates.
We'll take specific steps for the trader to make the best informed decision possible (and maybe introduce a novice trader level).
Raphael
February 01, 2013, 08:55:07 PM
My question to everyone: we thought we'd leave the lenders fix their rates freely. But the rates are going up very high putting in danger traders profit. So my question is: should we limit the rate asked? If yes, what is acceptable?
This is the classical question: should a market be regulated when it is about to go astray? -- Or is the inherent regulation sufficient?
In our case this means: will traders be prudent enough not to go long using those insanely priced lend offers, even if this means to pass on some possible profit?
Since overall, this market place is still small, so all of this is a matter of conditioning and learning one's lessons. Thus I'd propose to watch the situation a while and see if such a self correction kicks in. If this doesn't happen, then on the long run those overpriced offers will damage the reputation of the platform and some counter action would be justified.
Regarding the level of a cap: Maybe 100% ? Or 365% ?
1% of $20/BTC means $0.2 price rise required per day to break even.
IMHO this seems to be the absolute limit of what could remotely be called "reasonable"
February 01, 2013, 09:08:39 AM
Security question:
print BTC on paper means nobody can attack and got btc?
print BTC on paper means nobody can attack and got btc?
Yes, that means there is no hot wallet on the servers, I have the wallet on my computer, and there are digital and paper backup of the wallet in case something happen to my computer (we use the very secure Armory client and its awesome watch-only wallet feature to track deposits on Bitfinex side).
In other word, if a hacker manage to find an access to the servers, he won't be able to steal your bitcoins. That doesn't mean we don't take care of the security of our servers though
.On your side, don't forget to use google authentication if you can, and if you want, we can make an arrangement so that I proceed your withdrawal request only if I receive a confirmation by email from you.
February 01, 2013, 09:01:19 AM
Security question:
print BTC on paper means nobody can attack and got btc?
print BTC on paper means nobody can attack and got btc?
February 01, 2013, 08:47:23 AM
I know PAPASO, I know.
As I said some new money could be coming next week, I can't say much.
Meanwhile, you can post a borrow request: for example, on the "Lending" page, say "amount" = 3000 USD, rate 20% a year, period 60 or 90 or more days. Then click on "Borrow".
Your offer will appear on the last table "Unfilled credit demand/offers". Click on "notify", and if a lender is interested and take your loan offer, you will receive an email.
You will then see, on the "Trading page", how many BTC are reserved to you to go long, and you'll be able to use this bitcoins to go long.
Note: you pay interests as soon as you borrow money, even if you don't open a position immediately.
Best regards,
Raphael
As I said some new money could be coming next week, I can't say much.
Meanwhile, you can post a borrow request: for example, on the "Lending" page, say "amount" = 3000 USD, rate 20% a year, period 60 or 90 or more days. Then click on "Borrow".
Your offer will appear on the last table "Unfilled credit demand/offers". Click on "notify", and if a lender is interested and take your loan offer, you will receive an email.
You will then see, on the "Trading page", how many BTC are reserved to you to go long, and you'll be able to use this bitcoins to go long.
Note: you pay interests as soon as you borrow money, even if you don't open a position immediately.
Best regards,
Raphael
February 01, 2013, 08:37:59 AM
borrow usd rate is very high 90%-3300%, i can not open long p.
February 01, 2013, 08:32:20 AM
Long position borrows USD. So providing you open a long position of 100 btc at 20 USD/BTC and a rate of 50% a year, or 0.137% a day, you will pay:
0.137% * 100 * 20 * 60 days = 164.38 USD of interests.
For you to make a profit, the price of bitcoin would have to be at more than 20 + 1.644 usd (21.644 usd/btc) in 60 days (a 8.2% increase).
For long term buyer, I'd say to careful choose your loan rate, this is everything.
Raphael
0.137% * 100 * 20 * 60 days = 164.38 USD of interests.
For you to make a profit, the price of bitcoin would have to be at more than 20 + 1.644 usd (21.644 usd/btc) in 60 days (a 8.2% increase).
For long term buyer, I'd say to careful choose your loan rate, this is everything.
Raphael
February 01, 2013, 08:17:35 AM
if i borrow 100 BTC after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?
February 01, 2013, 06:49:37 AM
So I've checked the numbers for our loans.
We currently have only 146 usd loans at VIR rate, and over 32000 usd at fixed rate. So the average really reflects the market rate ( at over 200% a year).
I will never say enough to traders to be careful when they choose to open a position, the daily rate is very very important and can make the difference between profit and loss of your position!
Still, I have changed a bit the way VIR are calculated: they now take into account the loans opened at vir, based on the average rate of the last 15 minutes.. It's a way to ponder the rate if ever the proportion of VIR loans increases.
There will still need adjustments to be made, but it's a first step.
Small security update:
When you request a withdrawal, you will receive an email directly. If you did not request the withdrawal, you can cancel the request by replying to this email. Withdrawal being manually processed, I'll be able to cancel it.
Raphael
We currently have only 146 usd loans at VIR rate, and over 32000 usd at fixed rate. So the average really reflects the market rate ( at over 200% a year).
I will never say enough to traders to be careful when they choose to open a position, the daily rate is very very important and can make the difference between profit and loss of your position!
Still, I have changed a bit the way VIR are calculated: they now take into account the loans opened at vir, based on the average rate of the last 15 minutes.. It's a way to ponder the rate if ever the proportion of VIR loans increases.
There will still need adjustments to be made, but it's a first step.
Small security update:
When you request a withdrawal, you will receive an email directly. If you did not request the withdrawal, you can cancel the request by replying to this email. Withdrawal being manually processed, I'll be able to cancel it.
Raphael
February 01, 2013, 05:34:16 AM
if i borrow BTC 60 days and then opend a long position.if btc price grow,but 60 days later this position will be closed auto?
I had to borrow again and buy again? Now Maximum lending time (days) is 60 days, the rate is 10%. if i borrow 100 BTC
after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?
I had to borrow again and buy again? Now Maximum lending time (days) is 60 days, the rate is 10%. if i borrow 100 BTC
after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?
Yes, exactely. You can close your position before, but it won't last longer than what you borrowed.
One position can have (and often has) several credits, so when one of these expires, the position is only reduced.
For example, I have a user who is long since 2 months, and he regularly increase his position with new credits.
That's how it works for now.
Raphael
February 01, 2013, 04:53:15 AM
if i borrow BTC 60 days and then opend a long position.if btc price grow,but 60 days later this position will be closed auto?
I had to borrow again and buy again? Now Maximum lending time (days) is 60 days, the rate is 10%. if i borrow 100 BTC
after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?
position question:
if want to open long you had to borrow cash
if want to open short you had to borrow btc
and now i want to open long, but cash rate is very high 30 days rate is 1854%
it means i cannot open long position.
Security question:
print BTC on paper means nobody can attack and got btc?
I had to borrow again and buy again? Now Maximum lending time (days) is 60 days, the rate is 10%. if i borrow 100 BTC
after 60 days, how many rate should i pay? 100 X 10% X 60/365= 1.64btc ?
position question:
if want to open long you had to borrow cash
if want to open short you had to borrow btc
and now i want to open long, but cash rate is very high 30 days rate is 1854%
it means i cannot open long position.
Security question:
print BTC on paper means nobody can attack and got btc?
Jump to: