[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 152.

Ente

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Quote from: DoubleSwapper on September 10, 2014, 09:35:01 AM

Also: Congrats to BITFINEX! This thread was practically dead for nearly a week. This means that BFX is working very, very smoothly at the moment.

Yes, I agree, the platform runs smoothly.

Still, there are like half a dozen questions still open here. Important questions too, like about "insurance" and "legal status". No FAQ yet, and generally no Bitfinex folks writing here for weeks.

There where more posts, more info and closer communication with Giancarlo.

I hope this is still acclimatization time and not sit-it-out time.

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DoubleSwapper

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Quote from: BitBits on September 09, 2014, 08:32:50 PM

Quote from: noggin-scratcher on September 09, 2014, 07:51:45 PM

Have 'finex fixed that annoying thing where swaps end up fragmented as they get taken, or have I just gotten lucky lately? My list of open swaps (that I'm providing) has gotten much shorter lately; more taken in a few large chunks rather than a spray of dozens of tiny pieces.

I no longer see them as of late.

Quote from: noggin-scratcher on September 09, 2014, 07:51:45 PM

Have 'finex fixed that annoying thing where swaps end up fragmented as they get taken, or have I just gotten lucky lately? My list of open swaps (that I'm providing) has gotten much shorter lately; more taken in a few large chunks rather than a spray of dozens of tiny pieces.

I thought so as well because I had a very short list some time ago but you were just lucky. The problem is still there and if you have a sizable offer it will get absolutely shredded. Yesterday my list blew up to over 500 entries because of one single offer. I cannot imagine how long the lists of people with significant sums on bitfinex must be.

Also: Congrats to BITFINEX! This thread was practically dead for nearly a week. This means that BFX is working very, very smoothly at the moment. I hope you guys keep innovating a bit though. Please think about adding Euro and SEPA. International Wire Transfar is a pain in the ass. I thought about transfering some more funds to bitfinex but the low interest rates in combination with the high conversion and bank fees make it not really worth it.

BitBits

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Quote from: gog1 on September 09, 2014, 08:42:08 PM

... wide spread adoption causes more downward pressure...

I think this is a major misconception.
People who are spending Bitcoins for goods tend to replenish their holdings, so whatever the amount of coins that merchants are not holding, goes back to these people.
Major positive factor related to the adoption spread is the exponential increase in number of people being directly exposed to Bitcoin. That is, new people are not just hearing some news reports about Bitcoin, but they are seeing its actual use in real life.
About the "incentives for the average joe", it is mainly in the very human nature. "Joe" will first of all see an investment opportunity (...vs. credit/debit cards that can be used to spend ONLY).

gog1

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the hodler were wiped out in the last 'correction' - and we are still in that downtrend

interest rate may go up again should we get a rally but I just don't see one coming.

wide spread adoption causes more downward pressure - there's currently few incentives for the average joe to go buy BTC and spend it vs using credit card to buy things online.

BitBits

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Quote from: noggin-scratcher on September 09, 2014, 07:51:45 PM

Have 'finex fixed that annoying thing where swaps end up fragmented as they get taken, or have I just gotten lucky lately? My list of open swaps (that I'm providing) has gotten much shorter lately; more taken in a few large chunks rather than a spray of dozens of tiny pieces.

I no longer see them as of late.

noggin-scratcher

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Have 'finex fixed that annoying thing where swaps end up fragmented as they get taken, or have I just gotten lucky lately? My list of open swaps (that I'm providing) has gotten much shorter lately; more taken in a few large chunks rather than a spray of dozens of tiny pieces.

BitBits

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Just in case anybody in this thread have not heard about the latest news on Bitcoin adoption by PayPal, here is the Bloomberg article outlining this:
http://www.bloomberg.com/news/2014-09-08/ebay-s-paypal-unit-to-start-accepting-bitcoin-payments.html
It is almost hard to believe that from a rival and a strong opponent of Bitcoin, PayPal themselves became the adopt.
What it basically means in simpler terms is that merchants and their customers who are using PayPal (152 million registered accounts !!!) will now be able to seamlessly transact via Bitcoin. Considering that Ebay/PayPal is the world's biggest marketplace, this is a huge positive news for Bitcoin innovation to which however market has not yet reacted.

It does looks like the price is now stabilizing at the current levels (we are no longer bouncing off those 1K+ BTC walls), so I really think we are on the verge of some very interesting times for Bitcoin.

bjornw

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Quote from: 21pilot on September 09, 2014, 12:17:08 PM

is short-selling / margin trading Litecoin (LTC) possible?
Or is this only available for Bitcoin?

LTC is also possible

21pilot

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is short-selling / margin trading Litecoin (LTC) possible?
Or is this only available for Bitcoin?

Timetwister

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Quote from: bbbbbb2014 on September 05, 2014, 02:25:43 AM

Quote from: bjornw on September 04, 2014, 02:52:17 AM

Quote from: Timetwister on September 04, 2014, 02:33:26 AM

Quote from: bearproof on September 04, 2014, 02:22:19 AM

Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Considering that bitcoin inflation is still about 10% per year, you are indeed paying a negative real interest for them. It would be interesting if you could then withdraw the BTC that you short on Bitfinex.

Quite sure swap providers wouldn't find it too funny Wink

Um, well. Now we are talking about Bitcoin inflation. One of the major arguments for Bitcoin was the absence of inflation. Now where this beast (the inflation) came to this movie without me noticing it?

As long as money supply increases, there's inflation. And right now we are still having about 10% yearly inflation. Take a look at the following charts: https://bitcointalksearch.org/topic/chart-bitcoin-inflation-vs-time-130619

In some years, inflation will be so low that it'll be irrelevant, but for the moment it's still something considerable.

Ente

legendary

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Quote from: bbbbbb2014 on September 05, 2014, 02:25:43 AM

Quote from: bjornw on September 04, 2014, 02:52:17 AM

Quote from: Timetwister on September 04, 2014, 02:33:26 AM

Quote from: bearproof on September 04, 2014, 02:22:19 AM

Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Considering that bitcoin inflation is still about 10% per year, you are indeed paying a negative real interest for them. It would be interesting if you could then withdraw the BTC that you short on Bitfinex.

Quite sure swap providers wouldn't find it too funny Wink

Um, well. Now we are talking about Bitcoin inflation. One of the major arguments for Bitcoin was the absence of inflation. Now where this beast (the inflation) came to this movie without me noticing it?

People say Bitcoin is deflationary because, when all 21M are generated, no new ones are generated. I personally would call that "static" and not deflationary, but meh.

Now, until all 21M are generated (in 2160 or something?), Bitcoin indeed is inflationary. Simply because every 10 minutes a new batch of 25 BTC are generated. Which adds up to currently 1,314,000 in a year, which is close enough to be 10% of the current 13,227,325 BTC in existance.

Of course those 10% inflation in the Bitcoin amount is quite irrelevant in comparison to adoption, hype, crashes, and manipulation. And ridiculously little in comparison to the traded volume as well.

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bbbbbb2014

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Quote from: bjornw on September 04, 2014, 02:52:17 AM

Quote from: Timetwister on September 04, 2014, 02:33:26 AM

Quote from: bearproof on September 04, 2014, 02:22:19 AM

Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Considering that bitcoin inflation is still about 10% per year, you are indeed paying a negative real interest for them. It would be interesting if you could then withdraw the BTC that you short on Bitfinex.

Quite sure swap providers wouldn't find it too funny Wink

Um, well. Now we are talking about Bitcoin inflation. One of the major arguments for Bitcoin was the absence of inflation. Now where this beast (the inflation) came to this movie without me noticing it?

bjornw

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Quote from: Timetwister on September 04, 2014, 02:33:26 AM

Quote from: bearproof on September 04, 2014, 02:22:19 AM

Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Considering that bitcoin inflation is still about 10% per year, you are indeed paying a negative real interest for them. It would be interesting if you could then withdraw the BTC that you short on Bitfinex.

Quite sure swap providers wouldn't find it too funny Wink

Timetwister

legendary

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Quote from: bearproof on September 04, 2014, 02:22:19 AM

Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Considering that bitcoin inflation is still about 10% per year, you are indeed paying a negative real interest for them. It would be interesting if you could then withdraw the BTC that you short on Bitfinex.

bearproof

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Quote from: Timetwister on September 03, 2014, 01:58:24 PM

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

Look at the bright side, its very cheap to short bitcoins! and we are in a down trend...

Timetwister

legendary

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Quote from: DoubleSwapper on September 03, 2014, 03:02:08 PM

On average yes but look at the spikes in the last days (one went 0.8%) : http://bfxdata.com/swapstats/btc.php
1000 btc until 0.15% which is why I said the liquidity is poor.

That's really irrelevant, as you can't profit from that in practice. People paying so much for lends return them fast. And you have to manually lend the bitcoins.

DoubleSwapper

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Quote from: Timetwister on September 03, 2014, 01:58:24 PM

Quote from: DoubleSwapper on September 03, 2014, 09:39:07 AM

Quote from: Timetwister on September 03, 2014, 03:08:30 AM

USD interest rate is still quite high, about 14% per year. That's considerably more than the stock market, where you can get, with a lot of variance, about 9% nominal interest rate per year. There are better options, but lending on Bitfinex is still a quite good idea. Even interest rate for Bitcoin isn't too bad right now.

Would you mind pointing at any of the better options you are talking about at the moment? Because of the bearish sentiment and the very high number of btc swaps the rate is actually really high right now (over 5 times the usd rate, liquidity is low though)

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

On average yes but look at the spikes in the last days (one went 0.8%) : http://bfxdata.com/swapstats/btc.php
1000 btc until 0.15% which is why I said the liquidity is poor.

Also: Would you mind pointing at any of the better options you are talking about at the moment?

Timetwister

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Quote from: DoubleSwapper on September 03, 2014, 09:39:07 AM

Quote from: Timetwister on September 03, 2014, 03:08:30 AM

USD interest rate is still quite high, about 14% per year. That's considerably more than the stock market, where you can get, with a lot of variance, about 9% nominal interest rate per year. There are better options, but lending on Bitfinex is still a quite good idea. Even interest rate for Bitcoin isn't too bad right now.

Would you mind pointing at any of the better options you are talking about at the moment? Because of the bearish sentiment and the very high number of btc swaps the rate is actually really high right now (over 5 times the usd rate, liquidity is low though)

WTF? FRR for BTC is only 0.0155% daily. That's about 5% per year after fees.

DoubleSwapper

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Quote from: Timetwister on September 03, 2014, 03:08:30 AM

USD interest rate is still quite high, about 14% per year. That's considerably more than the stock market, where you can get, with a lot of variance, about 9% nominal interest rate per year. There are better options, but lending on Bitfinex is still a quite good idea. Even interest rate for Bitcoin isn't too bad right now.

Would you mind pointing at any of the better options you are talking about at the moment? Because of the bearish sentiment and the very high number of btc swaps the rate is actually really high right now (over 5 times the usd rate, liquidity is low though)

Timetwister

legendary

Activity: 1199

Merit: 1047

USD interest rate is still quite high, about 14% per year. That's considerably more than the stock market, where you can get, with a lot of variance, about 9% nominal interest rate per year. There are better options, but lending on Bitfinex is still a quite good idea. Even interest rate for Bitcoin isn't too bad right now.

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 152. (Read 723903 times)