Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 150. (Read 723861 times)

Just to be 100% sure: is it FRR (variable, flash-rate) or fixed-rate swap?

Ente

I am still trying to figure out how the swaps work from the lending side, but I found something I thought was a little odd.  I have a swap lent for 30 days, and it has been lent fully for the last 3 days.  The last 2 days I received the exact same amount of interest deposited into my account, but today, it was less.  Shouldn't the same amount be earned in interest each day, given that it was lent out all day, and for the same interest rate?

Might be a bug:

If i have unused swap sitting at 30 days and then use up a tiny bit (say to pay off interest) the rest of the swap's expiry is reduced by a *full day*. So my previously 30 day swap after being touched is now a 29 day swap. then if it's touched again it gets reduced to a 28 day swap. and so on. This is all happening on the same day, so it's not like i'm rolling over time legitimately. A day is taken off the swap time whenever the swap is cut but not completely used.

Can this be fixed?

I am about to wire some money into my Bitfinex account.
When the money arrives in my account, will it be available for use right away, or does Bitfinex impose a holding period?

Just wanted to bring this up to the attention of Bitfinex team:
Here is the screenshot of the "unused swaps" section (part of it):
http://imgur.com/8Ias0nc
The swaps supposed to be at least two days long, but as seen in the picture above, there is freshly taken swap with the 24 hours (instead of 2 days) expiration time. This snapshot is taken from the "unused swaps" section, right after they have been taken from offers order book (today). This is not an isolated case, I have seen this happening several times and so far I could not deduct any patterns of this occurrence.
Moreover, several times now I've seen swaps showing 2 days expiration date, in spite of the fact that the offer taken (a single one listed) stated that it is a swap with different than 2 days duration.
With that said, I do not know if these "shortened" swaps are going in with the same (shortened) expiration time when converted to "active". It is hard to trace them on the list.

On a separate note I just wanted to share that the possible reason for all those "under penny" swaps people are complaining about being listed and cluttering the section, is because swap request placement is done in 2 decimals after the point if user clicks on available offer (it is actually impossible to know the exact number of any given offer while it is on the order book). SO, if such offer has more digits after the second decimal, it gets spit and the under penny part apparently remains hanging on the order book and is somehow getting on the list (possibly if new swap request is placed immediately). Those traders who do this often (picking offers from order book by clicking on them), will have a hole load of these small (under penny) swaps.

It also looks like you cannot get rid of these tiny swaps because if you select them all (sort the list by the "Amount" column) and cancel, they will all come right back one for one. HOWEVER, what I found is that this "one for one" replacement ONLY happens if you have any swaps already sitting in your "unused swaps" section. I was able to get rid of them all at once and replaced by a single (sum of them) swap, when I had no swaps reserved (nothing in the "unused swaps section). I guess this is how the system is set up and after I cancelled a bunch of swaps without having any reserved, it did not look for the swaps I just cancelled, but simply took one new swap from the order book to match the total needed for my position. So, apparently the difference here from system's perspective is that you are either REPLACING the swaps or you HAVE TO take brand new swap to match your total needed for your margin position.

Probably what can be done/modified technically in this respect is to have the system completely ignore the number and amounts of swaps user is canceling, but always "look" for how much total is needed as the collateral for currently existing position and start looking for this particular amount first in the "unused swaps" section and then, if not enough, get the remainder from swaps order book.

The FRR wall is below $1.8 million, maybe light at the end of the tunnel for lenders?

You're putting the BitFinex team to shame with your constant enhancements and presence in this thread ;-)

Much appreciated, you are doing great work!

Ente

Hi all,

BFXdata.com update: the landing page -displaying a collection of the most important (imho) Bitfinex Stats- now updates data in real time.

Hope you'll like it

regards Bjorn

Never seen that, but I got used to just refreshing the page to make sure I am looking at the current state of the data.

Does bitfinex still have that lag between the balance between the #'s at the top right and the balance wehn you click "manage my wallet".  It used to be that when you made a transaction and there was a fee assessed, the 2 balances would differ because the fee hasn't been deducted from one of the balances.