Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 131. (Read 723861 times)

B5:47:1D:B6:27:DF:47:51:10:F3:5E:68:29:4D:11:F2:5B:9A:7F:E2:6C:BD:88:15:0C:D6:94:89:BE:3B:D8:F2 (SHA256)

With the recent Poodle exploit targeting SSL3 this is not exactly inspiring confidence. Bitfinex has a lot of bugs and peculiarities recently again. Björn confirmed the datastream to bfxdata is also bugging out at the moment.

Well, post the certificate here then...

I'm also seeing an error in Firefox :

Restarted Computer, cleared browser history/cache and tested on a second device. Still invalid. Error Code is "sec_error_unknown_issuer". Filthy seems to confirm this.

I get the certificate with B5:47:1D:B6:27:DF:47:51:10:F3:5E:68:29:4D:11:F2:5B:9A:7F:E2:6C:BD:88:15:0C:D6:94:89:BE:3B:D8:F2 (SHA256) which was issued on the 16.10.2014. Maybe you still have an old one cached?

Ok, so I'm not alone. IE 11 recognizes still recoginzes the site as valid.

I'm getting a security error when trying to go to bitfinex.com,  I go there every day all day fro this nexus7 tablet, and this morning I get a security error about the sites certificate. Any news? Or just me?

Tried Firefox/chrome/dolphin. Same issue security certificate. Possible compromised site

Firefox suddenly tells me bitfinex.com is now longer a safe address since the certificate is invalid. Am I alone with this?

Thanks this is very helpful.  Do you feel placing BTC into Bitfinex for swaps involves high risk, other than the company going out Gox style.

Thanks again!

Strato

That's up to you to decide. Annually that's about 4.4% (before the 15% BFX fee, so in reality about 3.7%; depending on your jurisdiction you might or might not have to pay capital gains tax on that amount, likely not on BTC though) if you manage to always find someone immediately who wants to borrow your "decent supply" for that rate.

You might be able (depending on your "decent supply") to compound the interest, since it is paid daily, on the other hand sometimes it might idle on the order books.

If this is worth your risk and handing over your BTC to Bitfinex is gain up to you to decide.

If you have a decent BTC supply, is offering Swaps at 0.012 ish worthwhile? I'm a bit new to using Bitfinex, and am doing lots of reading on the subject, but would love to hear some thoughts on active/experienced users.

Thanks!

Strato

A big problem with the swap market is that supply is inflexible.  Circle and Coinbase allow you to quickly convert some money into BTC and then send it to Bitfinex and convert back to USD for lending.  Or you can do the reverse if the swap rate is falling.  However, the limits from Circle and Coinbase are probably too low for the big lenders who must rely on international wires which can take several days.  Also the Circle fee (0.5%-0.8%) and Coinbase fee (1.0%) combined with the Bitfinex exchange fee (0.1%-0.2%) are too high to make adding USD just to handle a short several spike in volatility worthwhile.

On the plus side, the restricted supply benefits lenders and partially counters the pro-borrower bias (from being able to cancel loans to get lower rates).

FRR - It might be useful to collect statistics on what rates are currently and historically in use.  For instance, when there are spikes in the rate - how long does the typical swap last?    Instead of sharing anecdotes it might be more useful to use real data.

I have lent out some money at far-above market rate for a long time, and also far-below market rate (when the FRR increases and I get stuck in a 30 day fixed position - or in one case due to a typo).  Getting stuck in below market rate positions makes sense, but the above-market ones do not.

Hm, ok third post in a row from me but it's due:

I've been following the discussion about the FRR and I have to say it's fairly obvious at this point: anybody who defends the FRR in its current form and denies its influence on price formation in the swap market is fairly uninformed not to say outright stupid.

I'd recommed everybody to watch the swap orderbook for a day or two and you shall see, it's been especially obvious in the last few days. The amount of swaps is on the rise again and already fairly large relative to the low price and so is the swap rate. In the last three days we had several events where large orders pushed the swap rate into 0.25 to 0.6 territory. This normally lasted for a fairly short time and then went back to 0.08-0.1. Why? Because the muddafuggin FRR comes in, walls the orderbook off with a stupid 6 figure (100k to 300k) offer that takes hours to get cleared and incentivizes many impatient people to offer their money for even lower rates creating a feedback loop.
Of who's benefit is this? Who in their right mind would put a 0.1% offer on the orderbook when the current lowest offer is at 0.27?? It's stupid as hell and destroys a lot of potential returns for the lenders. Even the lazy fucks using this feature lose out on a ton of potential gains.
Normally these spikes are obviously related to manipulation but it doesn't seem like it this time. The orderbook seems to get genuinely thin because intelligent lenders realize the potential rates they can receive at the moment and are hesitant to put in offers at 0.1xx when they know the only offers that get taken quickly are either those below or at the FRR rate of death. And when the FRR wall gets torn down they can potentially offfer some money in the 0.25 to 0.6 region. This is unhealthy for the market and even makes it harder for the lenders to estimate their swap costs.

The swap rates should reflect current sentiment and swap demand but there is so much dumb money in the swap market combined with the lazypants FRR that we currently have a very, very inefficient market.

Has BFX disabled the live interface changes on swapping again? If I cancel an order I always have to reload now to see the balance update. Same goes for when orders are taken. No blue info message in the top right and no balance update of "USD swap total". It doesn't even make the order in the "unfilled offer column" disappear until you refresh. 

Is BFXDATA broken for anyobdy else? The USD swap graph does not seem to reload. It's stuck for me at 18th October 2:32. Maybe Björn could take a look at it.

Hi, I want to wire USD to IFINEX, but my bank asked me for the beneficiary's phone number, which I could not find. Please advise. I hope to submit the wire today, but there are only a couple of hours left. Many thanks.

EDIT: I also emailed my issue to [email protected]...

EDIT2: ...and I received an informative response within 10 hours of my email. Many thanks!

Sure would work for me as well... it would just be a bit more lively, thrilling with some variance thrown in. But we're smimming around our own net now, time for others to make some bubbles about this.


Hah, nice translation So basically what you're saying is that no matter what, we have to trust BFX to not abuse their swap monopoly, to not eff us up. Yeah, but what shall we do? Decentralized, realtime P2P exchanges with BFXs volume and swap-features are still inexistant and also kinda really hard to develop, unfortunately.

OK, we will contact you using your original email.