Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 151. (Read 723861 times)

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.

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.

this was just a joke about how "calm" this thread is nowadays  
I really did not intend to insult any british clients.

(fyi -> I´m not russian btw, in spite of my nickname)

To be honest, I've never tried to withdraw GBP from them, so that could be where the 3 weeks comes in. It might be worth checking out Dalmars brokerage account for the withdrawal.

Another method is to convert your GBP/EUR to USD on your brokerage account at spot (no crappy rate), withdraw the USD to your bank account (if your bank has multi currency support), and then send those dollars to bitfinex for bitcoin trading.

A bit more of a hassle, but it's cheaper and with the least amount of risk.

Was there any need for that bit of nastiness? Talking about how to turn GBP into BTC so they can be used on Bitfinex is perfectly valid.

Just because it doesn't affect Biffinex's Russian clients doesn't mean you can start to insult attack other countries currencies or systems.

0.04% per day means 14.60% a year, and without fees 12.41%

Any normal decent business would give you a yield from 12% up to let's say 22% in a given year.

What Bitfinex (still) makes attractive is that except for throwing an eye onto balances let's say once awhile - there is no work associated with, especially if you have autorenew option turned on.

IF we're going under that - let's say 0.03% - that's 10.95% annual (yearly), or without fees 9.31%.

In this case, some other options come to play.... But Bitfinex is most certainly not the most attractive one.

Plus considering... Most banks and corporations are protected by law. Even if you lost something, there is a chance to (at least partially) recover something.

Bitfinex is... ...to the most extent... it's own Republic.

this thread is now about Netagio or some other crappy GBP exchange 

Seriously, where are the bitfinex representatives? Haven´t read a post from them
in a long time.
But the platform is of course running very smoothly and I haven´t really much to complain about.
(except the "cluttered" swaps listing when you have high swap exposure)

Having already put cash into 'finex, my mind is more on going the other way - using a UK-based exchange to withdraw via (Finex => BTC => Netagio => bank).

Any experience with the speed of their GBP withdrawals?

I was worried about the 3+ weeks mentioned in there terms to, but in practice they get your BTC out fairly quickly (Normally with in hours, sometimes  longer outside of office hours, I get the feeling that someone has to manually release the coins rather than it been an automatic process). So they aren't perfect, but if you want to convert GBP to  BTC they are better than most of the alternatives.

Interesting. I'd come across them before and been turned off by their FAQ. Specifically the mention of "To prevent fraudulent activity and to protect ourselves as well as our customers, we impose a withdrawal wait time on the money that you deposit in your account", paired with the detail page that lists a delay of 3+ weeks if you want to withdraw 100% of your balance.

Seemed kinda sketchy to be imposing long waits like that. How has your experience been with them?

Also...


First I thought I wasn't going to go under 0.05% under any circumstances. Then I thought I wasn't going to go under 0.04% under any circumstances. That's already turned out to not be true so I'm just hoping supply/demand doesn't push us down to 0.03% because it's become apparent that no-one's going to really draw a line in the sand (or if not 'no-one', then not enough people).

Why not? 0.04% per day (0.034% after fees) is still quite high. As long as lenders trust Bitfinex, I can see interest rates going even lower.

Lenders like will not go under 0.04% for a given day,  under any circumstances.

I am glad that this happened. But you're probably aware that alternative Bitcoin processors emerged (BitPay), so I assume, the competition forced them into such actions.

As a fellow Brit I use Netagio, they are an exchange based in the UK, and their main business is converting GBP to BTC (or gold bars!).
Their order book is a bit empty and you will need to validate your address / bank account. But they do make getting BTC a lot easier if you have British bank account.

USD swap rate is getting "flat" and thin on lower % offers.
Are lenders beginning to move to their trading phase?
 

This gets even more painful from the UK - my choices to move cash to 'finex are an expensive international wire and a crappy GBP/USD exchange rate, or a somewhat less expensive SEPA transfer and a crappy GBP/EUR rate, followed by a crappy EUR/USD rate, and a trading fee each way going in/out of bitcoin plus any losses to slippage or price movements.

First decent exchange with "Faster Payments" support gets my business forever...

Sepa implementation would be very nice. It would bring finex much closer to European regular guys and overall it will give other excahnges an even harder time.

Ente (as always) has some good points!

Also what happened to the announced "Swap Bot", is this still planned?
This was somewhat controversial in here.

Even if they accepted SEPA, they would probably implement a system similar to bitstamp which screws you on a bad forex conversion rate.
The cheapest way to transfer amounts under 25K euro is just to buy it on Kraken and then transfer it to your USD exchange of choice.