Topic: Bitfinex - page 2. (Read 3615 times)

Quote from: windjc on July 06, 2014, 06:48:45 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.

Keyara

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

So who is covering the margin on Btc-E? If BTC-E is covering the margin for free - THAT doesn't scare anyone?

Btc-E carry the risk for leverage position. For bitfinex, it is their customer who carry the risk while they only charges fee.

Erdogan

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Quote from: windjc on July 06, 2014, 06:48:45 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.

hollowframe

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

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

So who is covering the margin on Btc-E? If BTC-E is covering the margin for free - THAT doesn't scare anyone?

hmm. well, theyve been in business for a long time now, collecting fees. rolling out PAMM now too. theyve got a long term business model.

and when they had a flash crash to $100, they didnt roll back trades. smart bidders and shorters kept their cheapp coins and btce took the hit on any liquidity not covered by the book.

bfx on the other hand, punished smart bidders, shorters by rolling back trades and locking open leveraged positionms.

so actually yeah, i prefer btce, who chooses their customers (traders) rather than bfx choosing one set of customers (lenders) over traders.

windjc

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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.

So who is covering the margin on Btc-E? If BTC-E is covering the margin for free - THAT doesn't scare anyone?

Gimmelfarb

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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.

windjc

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Quote from: windjc on July 06, 2014, 05:26:36 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?

Kipsy89

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Relax!

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

byronbb

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HODL OR DIE

Seems absurd (ie suspicious) they have not borrowed a few million then lent it out for swaps for the greatest carry trade of all time.

Gimmelfarb

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Quote from: Gimmelfarb on July 06, 2014, 05:19:22 PM

i don't understand why anyone would leverage long on Bitfinex. short, sure, that's cheap. why pay so much for swaps, especially when sideways action will kill your position? you pay no swap when trading on MT4 (BTCE) and FX Open.

BTCE is the best exchange, hands down, if only for their trade engine/API, and reputable past.

No one trading decent volume (500BTC +) can trade on BTC-E. Hell its hard enough on Finex and Stamp. But easiest on Finex.

depends on your trading plan. there's plenty of liquidity for whales on BTCE, but you can't play every little move and you pay a premium to get in a heavy position at any given level. i would think a smart whale would be making moves on all 3 exchanges, if not Chinese exchanges as well.

all of the western exchanges are thin, but Stamp regularly has more liquidity than Bitfinex.

windjc

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Quote from: Gimmelfarb on July 06, 2014, 05:19:22 PM

i don't understand why anyone would leverage long on Bitfinex. short, sure, that's cheap. why pay so much for swaps, especially when sideways action will kill your position? you pay no swap when trading on MT4 (BTCE) and FX Open.

BTCE is the best exchange, hands down, if only for their trade engine/API, and reputable past.

No one trading decent volume (500BTC +) can trade on BTC-E. Hell its hard enough on Finex and Stamp. But easiest on Finex.

Gimmelfarb

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i don't understand why anyone would leverage long on Bitfinex. short, sure, that's cheap. why pay so much for swaps, especially when sideways action will kill your position? you pay no swap when trading on MT4 (BTCE) and FX Open.

BTCE is the best exchange, hands down, if only for their trade engine/API, and reputable past.

windjc

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Bitfinex fucking rocks.

Most (99.999999999999999999999%) of the people that complain about it or post conspiracy theories about it (ie MatWearsAHat) either haven't used it or were too dumb to understand how to use it (because Bitfinex really provides no good resource materials to understand all their functions).

But Finex still rocks and its the best exchange out their right now.

Xiaoxiao

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The Golden Rule Rules

Quote from: Justine on July 06, 2014, 01:38:27 PM

Quote from: piramida on July 06, 2014, 12:48:16 PM

Quote from: An amorous cow-herder on July 06, 2014, 11:58:09 AM

Quote from: piramida on July 06, 2014, 12:48:16 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.

Hmm, a pattern with a length of 1.
Well, not worse than the TA charts here at least.

no, not one, have a long trail from a non-bitcoin businesses i dealt with. not saying that there can't be a reliable french business, just many of them are based on emotion rather than thought.

Who is the CEO of bitfinex? Didn't know he is a French.

Giancarlo. Seems like a straightforward guy imo. Doesn't handle things the way a lot of shady people handle things.

Justine

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Quote from: An amorous cow-herder on July 06, 2014, 11:58:09 AM

Quote from: An amorous cow-herder on July 06, 2014, 11:58:09 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.

Hmm, a pattern with a length of 1.
Well, not worse than the TA charts here at least.

no, not one, have a long trail from a non-bitcoin businesses i dealt with. not saying that there can't be a reliable french business, just many of them are based on emotion rather than thought.

Who is the CEO of bitfinex? Didn't know he is a French.

piramida

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Borsche

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.

Hmm, a pattern with a length of 1.
Well, not worse than the TA charts here at least.

no, not one, have a long trail from a non-bitcoin businesses i dealt with. not saying that there can't be a reliable french business, just many of them are based on emotion rather than thought.

An amorous cow-herder

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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.

Hmm, a pattern with a length of 1.
Well, not worse than the TA charts here at least.

aminorex

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Sine secretum non libertas

Quote from: ?? on ??

East Asia is where the economic power is shifting so the businesses are following.

That's not the reason for finance to shift, though. Finance is shifting because they have a reasonable legal environment. HK and Singapore, that is. Not Tokyo, Shanghai, Seoul -- they are regulatory scammers. There is hope for Shanghai, however.

arbitrage001

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There are a lot of post on Bitfinex lately.

They have an audit feature, anyone with accounting background care to comment?

Dalmar

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Life is short, practice empathy in your life