Topic: Bitfinex (Read 3615 times)

Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Oh noes! That means be a bear! Shocked

But on this forum, people are always predominantly bullish. If you go to Tradingview right now, most people seem bearish. Take your pick. Cheesy

Interesting that the TradingView analysts were bullish when it seemed that bitcoin was on the verge of breaking up, and they could draw you all kinds of wonderful TA graphs with lines showing you that it would likely do that. But when the bitcoin market doesn't do what they expect, they get confused, then get bearish, and then suddenly can draw you all kinds of wonderful TA graphs with lines showing you that it will likely break down. Roll Eyes

I think we are consolidating here and it is healthy. A slow move upwards.

Torque

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Quote from: scarsbergholden on July 08, 2014, 03:03:28 PM

Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Oh noes! That means be a bear! Shocked

But on this forum, people are always predominantly bullish. If you go to Tradingview right now, most people seem bearish. Take your pick. Cheesy

Interesting that the TradingView analysts were bullish when it seemed that bitcoin was on the verge of breaking up, and they could draw you all kinds of wonderful TA graphs with lines showing you that it would likely do that. But when the bitcoin market doesn't do what they expect, they get confused, then get bearish, and then suddenly can draw you all kinds of wonderful TA graphs with lines showing you that it will likely break down. Roll Eyes

piramida

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Quote from: Argwai96 on July 08, 2014, 05:33:12 PM

Quote from: leezay on July 08, 2014, 05:22:18 PM

What trading view are you guys talking?

tradingview.com

It is a technical charting website aimed at a lot of forex/stock traders that also has charts for the major bitcoin exchanges (except Okcoin).

and using this direct link you can get historical mtgox data: https://www.tradingview.com/e/?symbol=MTGOX:BTCUSD#

Argwai96

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Quote from: leezay on July 08, 2014, 05:22:18 PM

What trading view are you guys talking?

tradingview.com

It is a technical charting website aimed at a lot of forex/stock traders that also has charts for the major bitcoin exchanges (except Okcoin).

leezay

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What trading view are you guys talking?

Bitcoin_is_here_to_stay

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Quote from: scarsbergholden on July 08, 2014, 03:03:28 PM

Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Oh noes! That means be a bear! Shocked

But on this forum, people are always predominantly bullish. If you go to Tradingview right now, most people seem bearish. Take your pick. Cheesy

Most people seem bearish on Trading View now? Shocked

Perhaps we are reading different Trading Views Wink

scarsbergholden

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Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Oh noes! That means be a bear! Shocked

But on this forum, people are always predominantly bullish. If you go to Tradingview right now, most people seem bearish. Take your pick. Cheesy

2dogs

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Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Oh noes! That means be a bear! Shocked

TheJuice

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Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

Thats my market moto: Go against the crowd.

Marbit

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Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction? Tongue

fonzie

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Award for one of the most embarassing threads this year, good work piramida & arbitrage001.

"Damn (black) frog eaters!, do nut trust them , they are evil , all of them!"

Roll Eyes

piramida

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Quote from: Erdogan on July 08, 2014, 12:30:23 PM

Quote from: piramida on July 08, 2014, 01:03:58 AM

Quote from: Erdogan on July 07, 2014, 09:25:14 PM

Quote from: piramida on July 08, 2014, 01:03:58 AM

I have even less trust in bitfinex after mtgox incident seeing as it's also a french endeavor. No racism, just a pattern I noticed - french = not reliable practices.

French is not a race, so it is not racism, but you certainly try to discredit people on the ground of nationality. I can not prove it is incorrect, only point out that the group of people that is french, consist of millions of very different individuals. With high degree of certainty, your comments are stupid.

Ok let me explain what I meant. A group of people that is french consist of millions of very different individuals, correct. yet most of them have much in common. For one, they all speak french. For another, they mostly live in France. Also, there are my favorite businesses such as hennessy and some beauty brands, so definitely they *can* run a business, but bitfinex, in particular, does have alot of other similarities with mtGox to raise flags for me. Nationality of the owners is just one of them, also that it runs as an unregistered company which basically has no responsibility, and that it did not employ any professionals in economics or accounting last I checked.

Added two new points, but kept the stupid one. Still stupid.

Ok whatever. I hope you move your money on to the next nigerian exchange that opens up, good luck

Are nigerians bad too?

No, they are great, and all their business ventures are completely trustworthy.

Erdogan

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Quote from: Erdogan on July 07, 2014, 09:25:14 PM

Quote from: Erdogan on July 07, 2014, 09:25:14 PM

I have even less trust in bitfinex after mtgox incident seeing as it's also a french endeavor. No racism, just a pattern I noticed - french = not reliable practices.

French is not a race, so it is not racism, but you certainly try to discredit people on the ground of nationality. I can not prove it is incorrect, only point out that the group of people that is french, consist of millions of very different individuals. With high degree of certainty, your comments are stupid.

Ok let me explain what I meant. A group of people that is french consist of millions of very different individuals, correct. yet most of them have much in common. For one, they all speak french. For another, they mostly live in France. Also, there are my favorite businesses such as hennessy and some beauty brands, so definitely they *can* run a business, but bitfinex, in particular, does have alot of other similarities with mtGox to raise flags for me. Nationality of the owners is just one of them, also that it runs as an unregistered company which basically has no responsibility, and that it did not employ any professionals in economics or accounting last I checked.

Added two new points, but kept the stupid one. Still stupid.

Ok whatever. I hope you move your money on to the next nigerian exchange that opens up, good luck

Are nigerians bad too?

piramida

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I have even less trust in bitfinex after mtgox incident seeing as it's also a french endeavor. No racism, just a pattern I noticed - french = not reliable practices.

French is not a race, so it is not racism, but you certainly try to discredit people on the ground of nationality. I can not prove it is incorrect, only point out that the group of people that is french, consist of millions of very different individuals. With high degree of certainty, your comments are stupid.

Ok let me explain what I meant. A group of people that is french consist of millions of very different individuals, correct. yet most of them have much in common. For one, they all speak french. For another, they mostly live in France. Also, there are my favorite businesses such as hennessy and some beauty brands, so definitely they *can* run a business, but bitfinex, in particular, does have alot of other similarities with mtGox to raise flags for me. Nationality of the owners is just one of them, also that it runs as an unregistered company which basically has no responsibility, and that it did not employ any professionals in economics or accounting last I checked.

Added two new points, but kept the stupid one. Still stupid.

Ok whatever. I hope you move your money on to the next nigerian exchange that opens up, good luck

arbitrage001

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Nationality in Europe (France) is slowly losing its meaning.

Demography will look entire different 5-10 years down the road. Immigration issue need to be re-examined if they want to fix the problem.

This is suppose to be a bitfinex thread and not "french" discussion.

Erdogan

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Quote from: arbitrage001 on July 07, 2014, 09:31:58 AM

I have even less trust in bitfinex after mtgox incident seeing as it's also a french endeavor. No racism, just a pattern I noticed - french = not reliable practices.

French is not a race, so it is not racism, but you certainly try to discredit people on the ground of nationality. I can not prove it is incorrect, only point out that the group of people that is french, consist of millions of very different individuals. With high degree of certainty, your comments are stupid.

Ok let me explain what I meant. A group of people that is french consist of millions of very different individuals, correct. yet most of them have much in common. For one, they all speak french. For another, they mostly live in France. Also, there are my favorite businesses such as hennessy and some beauty brands, so definitely they *can* run a business, but bitfinex, in particular, does have alot of other similarities with mtGox to raise flags for me. Nationality of the owners is just one of them, also that it runs as an unregistered company which basically has no responsibility, and that it did not employ any professionals in economics or accounting last I checked.

Added two new points, but kept the stupid one. Still stupid.

theonewhowaskazu

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So what about bitfinex.

Bitcoin_is_here_to_stay

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Quote from: 2dogs on July 07, 2014, 12:58:16 AM

Quote from: Gimmelfarb on July 06, 2014, 06:41:33 PM

Quote from: windjc on July 06, 2014, 06:26:38 PM

Quote from: Kipsy89 on July 06, 2014, 06:10:51 PM

yeah that interest on swaps is crazy. if i get the urge to use margin, i'll check out MT4.

The interests on swaps is around 60% annual. That is much lower than it was a year ago. What are you people even talking about?

much lower than a few weeks ago too -- so, this is the low end of that range. it goes much higher than the current 0.1655% per day...

my original point up thread was -- why pay that much interest in the first place? you can go 3:1 on BTCE and pay no interest. maybe it's just me -- i'm not a whale, but i'm not a guppy, either. and i also think most people here aren't whales either.

Found this on Bitfinex swaps:
http://www.bfxdata.com/swapstats/usd.php

Isn't it really a timing question?
With the swaps you get something, even if BTC goes up, down, or sideways?
Where as the margin trades (3:1 BTC e), you are bullish/bearish on the price - but when the strike price happens is anybody's guess.

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

That part is clear Wink

. What is unclear is whether they are right. And what happens if they are wrong - e.g. will lenders be paid by vague Bitfinex "insurance" when borrowers will default?

arbitrage001

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Quote from: 2dogs on July 07, 2014, 12:58:16 AM

Quote from: Gimmelfarb on July 06, 2014, 06:41:33 PM

Quote from: windjc on July 06, 2014, 06:26:38 PM

Quote from: Kipsy89 on July 06, 2014, 06:10:51 PM

yeah that interest on swaps is crazy. if i get the urge to use margin, i'll check out MT4.

The interests on swaps is around 60% annual. That is much lower than it was a year ago. What are you people even talking about?

much lower than a few weeks ago too -- so, this is the low end of that range. it goes much higher than the current 0.1655% per day...

my original point up thread was -- why pay that much interest in the first place? you can go 3:1 on BTCE and pay no interest. maybe it's just me -- i'm not a whale, but i'm not a guppy, either. and i also think most people here aren't whales either.

Found this on Bitfinex swaps:
http://www.bfxdata.com/swapstats/usd.php

Isn't it really a timing question?
With the swaps you get something, even if BTC goes up, down, or sideways?
Where as the margin trades (3:1 BTC e), you are bullish/bearish on the price - but when the strike price happens is anybody's guess.

High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.

piramida

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