Are swaps the lending portion of bitfinex? OP says the three main wallets are exchange, margin trading, and lending. Yet I find no "lending" area.
The wallet is called "deposit", and trading page is "Total Return Swaps".
/Steve
Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 158. (Read 723903 times)
August 14, 2014, 10:10:11 PM
The wallet is called "deposit", and trading page is "Total Return Swaps".
/Steve
August 14, 2014, 06:19:40 PM
Are swaps the lending portion of bitfinex? OP says the three main wallets are exchange, margin trading, and lending. Yet I find no "lending" area.
You can define somewhere (when signing up?) what type of user you are. Depending on this, you might not see all three types of wallets. A sure sign is on the top right corner, that box shows all wallet types and their funds.
Micro flash crash:
(come on, a 10% difference to other exchanges is nothing more than a micro one)
Interesting, I didn't think of that one. For some time I only follow the BitFinex charts, so until now I was under the impression "today, exchange rate fell from $550 to $450". No, it was only on BitFinex, because long position liquidations created a mini avalanche.
So I better start watching some other exchange rates too, when it gets wild.
I'm relieved we didn't break the $500 support globally, then.
Also, +1 on slowing/halting liquidations when the exchange rate drops too far below all other exchanges' rates. I guess the associated risk is small enough and the gain for the users and platform makes it worthwile.
Ente
August 14, 2014, 04:51:57 PM
Are swaps the lending portion of bitfinex? OP says the three main wallets are exchange, margin trading, and lending. Yet I find no "lending" area.
August 14, 2014, 04:26:50 PM
This situation could be partially solved by an algorithm that would detect if Bitfinex's price deviated from the other market price (and then delaying margin calls) - if you could design an algorithm that would actually be reliable. In practice, it'd be very difficult to pull off.
In other news, I'm guessing USD swap rates may fall as low as 0.03%/day.
In other news, I'm guessing USD swap rates may fall as low as 0.03%/day.
August 14, 2014, 01:47:58 PM
Looks like 85% of my USD SWAPS very not liquidated 
Seems I was lending to experienced traders!
Seems I was lending to experienced traders! August 14, 2014, 01:30:52 PM
I got called by the flash crash....
And it closed right at the bottom... It called me at less than half of the call value.
What pisses me off is that NO OTHER exchange experienced that, and I purposefully closed part of my position last night to avoid a margin call. However, that just lowered the Call price to the point of being at the back end of orders in BFX's system thus leaving me with 1/8th of my original position instead of 1/3.
I managed things to avoid being called, and when BFX the only exchange to flash crash calls me it takes everything and then takes it twice over again...
Now I have nothing left.
I don't expect BFX will reverse orders like the $100 Flash crash, so im probably just fucked by BFX's illiquid system.
Its a shame too because I've sent them a lot more business than just my own...
Goodluck Crypto... I'm done.
And it closed right at the bottom... It called me at less than half of the call value.
What pisses me off is that NO OTHER exchange experienced that, and I purposefully closed part of my position last night to avoid a margin call. However, that just lowered the Call price to the point of being at the back end of orders in BFX's system thus leaving me with 1/8th of my original position instead of 1/3.
I managed things to avoid being called, and when BFX the only exchange to flash crash calls me it takes everything and then takes it twice over again...
Now I have nothing left.
I don't expect BFX will reverse orders like the $100 Flash crash, so im probably just fucked by BFX's illiquid system.
Its a shame too because I've sent them a lot more business than just my own...
Goodluck Crypto... I'm done.
August 14, 2014, 12:55:58 PM
Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
Quite a harsh statement.
But please, enlighten me, how exactly did it unfold on bitfinex?
Ente
what if price shot up? them crazy swap longs would have made a big buck..
ppl are so emotional all the time in btc..
I got to watch it too. The BFX price fell from $510 to $460 in a couple minutes and for around 5 minutes it fluctuated between $460 and $500. By contrast the other markets only fell several dollars. It stabilized pretty quickly at $493-$495 and then started to slowly rise towards the price on the other markets.
It was like a mini flash crash.
August 14, 2014, 11:29:32 AM
I would say lenders benefit from this, as going forward it provides BFX with more granular control over leverage ratios - in particular, them being able to manage separate max leverage per currency is great. For traders it is probably a small negative or neutral.
It is also a slight reduction in the max effective leverage - 3.33 vs 3.5, though I doubt that this is an active constraint or BFX wouldn't have chosen that number. Going forward they may choose to reduce that number further, especially eg for LTC. That would be bad for traders that like a lot of leverage, and good for lenders. Also good for the ecosystem / reducing systemic risk.
It is also a slight reduction in the max effective leverage - 3.33 vs 3.5, though I doubt that this is an active constraint or BFX wouldn't have chosen that number. Going forward they may choose to reduce that number further, especially eg for LTC. That would be bad for traders that like a lot of leverage, and good for lenders. Also good for the ecosystem / reducing systemic risk.
Indeed the idea of moving toward per pair/leverage is done on purpose, and you'll soon discover why.
Other than that we tried to be neutral for traders, with a positive effect for people who are USD only and want to short (more effective leverage). Nobody short anyway so it doesnt change much.
Also today was a good test for the new trading engine to handle liquidations, and while I give you that it lagged a bit, it behaved as it should (ie no loss for lenders, or Bitfinex).
Steve, I dont see any issue on my side, if it persists could you contact us to support to see where it can come from?
Have a good day all, and good luck for your trades
Raphael
Bitfinex team
August 14, 2014, 10:40:24 AM
BitFinex down? Lots of timeouts accessing both the website & API.
/Steve
/Steve
August 14, 2014, 07:23:25 AM
Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
Quite a harsh statement.
But please, enlighten me, how exactly did it unfold on bitfinex?
Ente
what if price shot up? them crazy swap longs would have made a big buck..
ppl are so emotional all the time in btc..
August 14, 2014, 07:09:43 AM
Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
Quite a harsh statement.
But please, enlighten me, how exactly did it unfold on bitfinex?
Ente
August 14, 2014, 04:52:04 AM
Tried resyncing my phone time and that didn't help. Maybe my account is locked?
I sent an email to support, please check it asap.
It's fixed.
August 14, 2014, 03:47:48 AM
Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end. I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.
August 13, 2014, 09:27:33 PM
I would say lenders benefit from this, as going forward it provides BFX with more granular control over leverage ratios - in particular, them being able to manage separate max leverage per currency is great. For traders it is probably a small negative or neutral.
It is also a slight reduction in the max effective leverage - 3.33 vs 3.5, though I doubt that this is an active constraint or BFX wouldn't have chosen that number. Going forward they may choose to reduce that number further, especially eg for LTC. That would be bad for traders that like a lot of leverage, and good for lenders. Also good for the ecosystem / reducing systemic risk.
It is also a slight reduction in the max effective leverage - 3.33 vs 3.5, though I doubt that this is an active constraint or BFX wouldn't have chosen that number. Going forward they may choose to reduce that number further, especially eg for LTC. That would be bad for traders that like a lot of leverage, and good for lenders. Also good for the ecosystem / reducing systemic risk.
August 13, 2014, 09:09:24 PM
Great to see Bitfinex now sending emails out regularly when changes are announced!
Josh, is that your work? :-)
About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?
Thank you guys,
Ente
Josh, is that your work? :-)
About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?
Thank you guys,
Ente
I am a little confused on the rules also. Who is benefiting from the change? Trader or lender?
August 13, 2014, 02:59:34 PM
It's glitching again, my swap offers are not being posted, but show up in unfilled swap demand/offers.
August 13, 2014, 10:21:34 AM
can anyone help me? I'm getting error 400 on order/new
this is the code
http://pastebin.com/zmyxDJyy
the authentication works and it's the same code, the unique difference is on the payload
any idea?
this is the code
http://pastebin.com/zmyxDJyy
the authentication works and it's the same code, the unique difference is on the payload
any idea?
same here, but with visual basic
get runs perfekt -> but we got the error 400 if we use *POST*
anyone an idea ?
August 12, 2014, 04:07:31 PM
Great to see Bitfinex now sending emails out regularly when changes are announced!
Josh, is that your work? :-)
About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?
Thank you guys,
Ente
Josh, is that your work? :-)
About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?
Thank you guys,
Ente
August 12, 2014, 02:53:13 PM
Email from Bitfinex says new leverage ratio is 3.33 - starting Aug 18 - 0:00 UTC.
which is indeed a decrease in max leverage ratio, because it was possibly to use 3,5:1 (as pointed out in the e-mail ->
using BTC as collateral for a BTC long position)
I like these changes.
August 12, 2014, 02:12:09 PM
Email from Bitfinex says new leverage ratio is 3.33 - starting Aug 18 - 0:00 UTC.
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