[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 153.

DoubleSwapper

full member

Activity: 172

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Quote from: oyvinds on September 02, 2014, 07:23:49 AM

Quote from: LOADING.READY.RUN on September 02, 2014, 06:42:34 AM

Quote from: bbbbbb2014 on September 02, 2014, 06:35:36 AM

That's 12.41% interest rate. For USD. Do you guys find that acceptable - as it seems the level of liquidity is also very low.

It doesn't matter who finds it acceptable or not -- loan rates are determined by a market, and there's very little demand for opening new longs. Apparently there are enough people who prefer to offer their USD at these low rates over pulling the USD out of BFX.

BFX has historically offered great interest rates on USD. If you have a lot of USD there and you expect rates to rise at some point in the near future then it makes sense to leave the money at BFX - and 0.02%/day (which people fill on the demand side now) is more than 0%/day, right?

As you say, interest rates are set by demand and supply. Right now it's the bearmarket and the swap demand has clearly shifted towards BTC.

BTC loans are at record highs http://www.bfxdata.com/combined/btc.php

What that guy who decided to sell 1600 BTC short at $469/$470 today was thinking is a rather interesting question - but I guess it's great risk/reward if you see the $200 in the cards..

I know it appears a bit sad and depressing that USD rates are this low right now. We who have been using BFX for quite a while remember the good-old-days of 0.99%/day and miss them. However.. we won't be seeing those rates again. Back when 5 people were using BFX it was possible to get those rates like that but the user-base at BFX has grown a whole lot and there are a whole lot of people who think 0.2% or just 0.1%/day is GREAT (and it is, when you think about it, pretty darn good compared to many alternatives).

Very accurate! Don't forget that we were already at these rates in the past (it's now even a bit lower though) and the only reason we went back to nearly 1% for some short time was blatant manipulation which seems impossible or at least fixed for now. We need very significant sums of money borrowed to get us anywhere near 0.2% again. The amount of short positions is quite daring at the moment. I agree that we might be in for a large short squeeze like we had in the past but I'm also bearish towards bitcon at the moment in general and will refrain from entering a long position. It would be devastating for the bitcoin economy if these shorts were liquidated without pushing up the price signficantly. At the moment these shorts are directly buffering any potential further downfall.
What they sadly won't do though is increasing the dollar swap rate. Hopefully we have bottomed out by now. Anything below 10 % pa will give me some serious headache.

BitCoinNutJob

legendary

Activity: 1330

Merit: 1000

Quote

What that guy who decided to sell 1600 BTC short at $469/$470 today was thinking is a rather interesting question - but I guess it's great risk/reward if you see the $200 in the cards..

Rather him then me sell that much, whales dont always get it right if you remember the mtgox data from the whales

oyvinds

newbie

Activity: 48

Merit: 0

Quote from: LOADING.READY.RUN on September 02, 2014, 06:42:34 AM

Quote from: bbbbbb2014 on September 02, 2014, 06:35:36 AM

That's 12.41% interest rate. For USD. Do you guys find that acceptable - as it seems the level of liquidity is also very low.

It doesn't matter who finds it acceptable or not -- loan rates are determined by a market, and there's very little demand for opening new longs. Apparently there are enough people who prefer to offer their USD at these low rates over pulling the USD out of BFX.

BFX has historically offered great interest rates on USD. If you have a lot of USD there and you expect rates to rise at some point in the near future then it makes sense to leave the money at BFX - and 0.02%/day (which people fill on the demand side now) is more than 0%/day, right?

As you say, interest rates are set by demand and supply. Right now it's the bearmarket and the swap demand has clearly shifted towards BTC.

BTC loans are at record highs http://www.bfxdata.com/combined/btc.php

What that guy who decided to sell 1600 BTC short at $469/$470 today was thinking is a rather interesting question - but I guess it's great risk/reward if you see the $200 in the cards..

I know it appears a bit sad and depressing that USD rates are this low right now. We who have been using BFX for quite a while remember the good-old-days of 0.99%/day and miss them. However.. we won't be seeing those rates again. Back when 5 people were using BFX it was possible to get those rates like that but the user-base at BFX has grown a whole lot and there are a whole lot of people who think 0.2% or just 0.1%/day is GREAT (and it is, when you think about it, pretty darn good compared to many alternatives).

LOADING.READY.RUN

full member

Activity: 133

Merit: 100

Quote from: bbbbbb2014 on September 02, 2014, 06:35:36 AM

That's 12.41% interest rate. For USD. Do you guys find that acceptable - as it seems the level of liquidity is also very low.

It doesn't matter who finds it acceptable or not -- loan rates are determined by a market, and there's very little demand for opening new longs. Apparently there are enough people who prefer to offer their USD at these low rates over pulling the USD out of BFX.

bbbbbb2014

member

Activity: 93

Merit: 10

I hate to hijack this thread, but...

It seems everything is working... I am lending out USD and so far, so good. Interest rates are a bit on a low side (rnd 0.04% daily rate - which is 14.60% on a year - minus 15% fees).

That's 12.41% interest rate. For USD. Do you guys find that acceptable - as it seems the level of liquidity is also very low.

sleger

full member

Activity: 167

Merit: 100

Hi, very often these days when trying to withdraw, with SMS verification when I click on Send to receive the sms, I get "Invalid API".
It just happened to me 5 times in a row and gave up trying my withdrawal, but this is starting to annoy me...

BitBits

full member

Activity: 144

Merit: 100

Quote from: ?? on ??

Hi, I have Pending approval on withdrawal for 3 hours. Why?

The email you received when you requested your withdrawal tells you why (subscribe to this type of notification if you didn't). But to answer, this is because you either requested large amount, or the "hot wallet" needs to be replenished, which will happen next time the person in charge of this is online.

DoubleSwapper

full member

Activity: 172

Merit: 100

Quote from: bjornw on August 28, 2014, 07:36:52 AM

Quote from: Sukrim on August 28, 2014, 05:02:02 AM

Typo in BFXdata today: "To expolre the data behind these numbers"
Thanks for the page, it looks really great!

Thanks for your thorough inspection!

Quote from: Sukrim on August 28, 2014, 05:02:02 AM

Maybe some sparklines graphs (see bitcoincharts) might also be handy? Otoh it might overload the design...

you mean the small charts on http://bitcoincharts.com/markets ? Maybe I'll add something similar. A Lot of work though...

I was also thinking to build a margin call calculator so margin traders can specify a position and figure out at what price they can expect a margin call (before they open the actual position).
This is also quite a big job to build as there are quite a lot of parameters involved in calculating the margin call price. Let me know if you would find such a calculator useful or you are already happy to see the margin call price in your active order list @bitfinex?

regards Bjorn

Hi, nice job as always! I noticed the new page today and was positively surprised. While a margin calculator wouldn't really be necessary to me it would make a lot of sense for the next time when people fear a margin bubble bursting to quickly calculate how low the price must drop for liquidiations etc. :-)

bjornw

full member

Activity: 152

Merit: 100

Quote from: Sukrim on August 28, 2014, 05:02:02 AM

Typo in BFXdata today: "To expolre the data behind these numbers"
Thanks for the page, it looks really great!

Thanks for your thorough inspection!

Quote from: Sukrim on August 28, 2014, 05:02:02 AM

Maybe some sparklines graphs (see bitcoincharts) might also be handy? Otoh it might overload the design...

you mean the small charts on http://bitcoincharts.com/markets ? Maybe I'll add something similar. A Lot of work though...

I was also thinking to build a margin call calculator so margin traders can specify a position and figure out at what price they can expect a margin call (before they open the actual position).
This is also quite a big job to build as there are quite a lot of parameters involved in calculating the margin call price. Let me know if you would find such a calculator useful or you are already happy to see the margin call price in your active order list @bitfinex?

regards Bjorn

Sukrim

legendary

Activity: 2618

Merit: 1007

Typo in BFXdata today: "To expolre the data behind these numbers"
Thanks for the page, it looks really great!

Maybe some sparklines graphs (see bitcoincharts) might also be handy? Otoh it might overload the design...

bjornw

full member

Activity: 152

Merit: 100

Hi all,

Bfxdata.com Update:

I've just finished a new landing page for http://BFXdata.com

The new page shows you an organized collection of the most important Bitfinex stats. Both for trading and for Total Return Swaps, all in one page so you'll have an instant overview of whats going on on Bitfinex at the moment (and for the last 24h).

hope you'll like it, let me know. Also suggestions for improvement are welcome!

Cheers Bjorn

ps. Maybe you'll have to clear your web browser's cache to land on the new page (I removed a redirect on the server) direct link: http://www/bfxdata.com/index.php

screenshot:

MustMan

member

Activity: 65

Merit: 10

Quote from: DoubleSwapper on August 27, 2014, 02:05:37 PM

Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.

In other words:
>tfw when 1 % per day will never come back. :-(

Good times has gone forever for lenders!
Swap rate per day record low 0.0492 on Apr.25 was broken already .

gog1

hero member

Activity: 756

Merit: 500

Quote from: DoubleSwapper on August 27, 2014, 02:05:37 PM

Quote from: DoubleSwapper on August 24, 2014, 10:02:57 AM

Pretty sure everybody here is aware of it and what I'm pointing out is quite obvious but HOLY SHIT has the Interest rate hit rock bottom! It's so low we have already dipped multiple times into 0.03xxx for a short time like the other guy her has predicted before. We'll need a lot of bullishness to kick this rate back up. The sum of active swaps is now at 18.5 m which is like nearly half of our maximum where interest rate was just roughly at 0.1x-0.2x

We have been this low before after the bubble burst and bitcon came down from 8xx but if you realize that the huge increase in swap rate was basically the result of manipulation which was exposed by BitcoinIdiotDude (RIP!) and subsequently fixed by BFX I believe lenders are in for rough times and won't see 0.2x for a long, long time if ever.
0.04% per day is roughly 16 % per year compounded so this is slowly getting unattractive for the risk lenders take but I'm sure there are more than enough people to shove their money over because even 16 % is more than you ever see at a bank which unfortunately means we will likely drop even lower without more rampant bullishness.

Oh boy, just yesterday it looked like the swap rate was slowly on the rise again. The former 3 m FFR wall was hacked down to like 1.7 m and new offers below it were drying up but then the prise surged and I am assuming quite a few long positions were closed and the book was bombarded by returned swaps. We have now genuinely broken below 0.04 for the first time with 6 figure wall to keep us down. With fees figured in 0.04% per day is just slightly above 13 % compounded annual interest rate.
Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.

In other words:
>tfw when 1 % per day will never come back. :-(

Traders are getting more savvy, over $13 million is wiped from the hodlers - now, it's mainly traders taking the new swaps

noggin-scratcher

full member

Activity: 136

Merit: 100

Quote from: DoubleSwapper on August 27, 2014, 02:05:37 PM

In other words:
>tfw when 1 % per day will never come back. :-(

Well, it's at least limped it's way back up to almost 0.045% rather than continuing down into the 0.03xx territory, but that's still a pretty paltry return compared to what it was.

To be expected I suppose, when the swap total has dropped so precipitously - maybe eventually people will start withdrawing cash back out and reduce the supply of cheap USD, but in the immediate aftermath it's just going to be sitting spare and going for ever-lower rates while they have a think about the situation.

DianaLime

newbie

Activity: 52

Merit: 0

I am going to try this out soon.

DoubleSwapper

full member

Activity: 172

Merit: 100

Quote from: DoubleSwapper on August 24, 2014, 10:02:57 AM

Pretty sure everybody here is aware of it and what I'm pointing out is quite obvious but HOLY SHIT has the Interest rate hit rock bottom! It's so low we have already dipped multiple times into 0.03xxx for a short time like the other guy her has predicted before. We'll need a lot of bullishness to kick this rate back up. The sum of active swaps is now at 18.5 m which is like nearly half of our maximum where interest rate was just roughly at 0.1x-0.2x

We have been this low before after the bubble burst and bitcon came down from 8xx but if you realize that the huge increase in swap rate was basically the result of manipulation which was exposed by BitcoinIdiotDude (RIP!) and subsequently fixed by BFX I believe lenders are in for rough times and won't see 0.2x for a long, long time if ever.
0.04% per day is roughly 16 % per year compounded so this is slowly getting unattractive for the risk lenders take but I'm sure there are more than enough people to shove their money over because even 16 % is more than you ever see at a bank which unfortunately means we will likely drop even lower without more rampant bullishness.

Oh boy, just yesterday it looked like the swap rate was slowly on the rise again. The former 3 m FFR wall was hacked down to like 1.7 m and new offers below it were drying up but then the prise surged and I am assuming quite a few long positions were closed and the book was bombarded by returned swaps. We have now genuinely broken below 0.04 for the first time with 6 figure wall to keep us down. With fees figured in 0.04% per day is just slightly above 13 % compounded annual interest rate.
Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.

In other words:
>tfw when 1 % per day will never come back. :-(

Sukrim

legendary

Activity: 2618

Merit: 1007

Just put an order for part the amount, not the whole.

hgamezoom

full member

Activity: 141

Merit: 100

Does anyone know, in margin trading, how can I partially close my positions? Huh

CHAO

member

Activity: 98

Merit: 10

Dear Sir/Madam,

There are 13 Confirmations in blockchain .But there is still nothing in my account.

Could you tell me if there is something wrong in your deposit system?

BenAnh

hero member

Activity: 518

Merit: 500

Stuck on deposits/withdrawals!

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