Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 160. (Read 723903 times)
August 06, 2014, 05:40:08 PM
Rate is getting a little too low for the risk of putting money on the exchange.
August 06, 2014, 03:34:55 PM
Oh! Now I got it! :-)
Didn't see the "offers" and "demands", and the timestamp made me assume its a log of taken offers..
Thank you!
Ente
Didn't see the "offers" and "demands", and the timestamp made me assume its a log of taken offers..
Thank you!
Ente
No "timestamp" in the demands and offers tables is the timestamp it was added to the "lendbook" But as screen "real estate" is limited I scrapped the "added to the lendbook" part and named it "timestamp"...
EDIT: I already got a few requests on adding help sections on certain pages / charts. For me all pages are SO clear (as I made them) I can't sometimes see why people don't understand what they display
August 06, 2014, 03:26:59 PM
Oh! Now I got it! :-)
Didn't see the "offers" and "demands", and the timestamp made me assume its a log of taken offers..
Thank you!
Ente
Didn't see the "offers" and "demands", and the timestamp made me assume its a log of taken offers..
Thank you!
Ente
August 06, 2014, 01:48:44 PM
Bjorn, only half related, is there a list of the current swap offers?
Thank you, again, for the great site!
Ente
Thank you, again, for the great site!
Ente
I'm not sure I understand you correctly: isn't http://www.bfxdata.com/swapstats/usd.php Just displaying That? Green Table and Green Area Chart?
August 06, 2014, 01:31:08 PM
Bjorn, only half related, is there a list of the current swap offers?
Thank you, again, for the great site!
Ente
Thank you, again, for the great site!
Ente
August 06, 2014, 01:11:52 PM
Hi all,
Bfxdata.com Update
Next I'll be building a Swap calculator for FRR Swaps, where the user can specify a period in the past and the calculator will output returns and fees on the variable FRR rate during that period.
If someone could verify my calculations by doing some math, that would be very much appreciated! Id did check it myself of course, but a little miscalculation might have snug in
Cheers Bjorn
Well, I've just addeda FRR Swap calculator to bfxdata.com. PLEASE DO read the disclaimer I added:
"This calculator should accurately output the returns on FRR swaps for the specified period. HOWEVER This was quite a extensive coding job (…) so I can’t completely rule out that along the way some minor (or major!) mistake might have slipped into my calculations. So before starting to send angry e-mails toward the Bitfinex Compliance Department, shouting 'I WAS PAYED TOO LITTLE on my FRR swap for the period xxx to yyy' PLEASE do contact me and share your discrepancies with me so I can check wether or not I might have messed up… I’d prefer discussing these things in the feedback thread on bitcointalk.og, but also I can imagine people aren’t always comfortable sharing financial details in public so contacting me by mail is also fine.
maybe a bit redundant, but of course I checked wether my calculation methods are in sync with bitfinex’ before adding this feature to bfxdata.com"
Link to the FRR calculator http://www.bfxdata.com/calculators/frrswaps.php
or just check the menu
Cheers Bjorn
Bfxdata.com Update
Next I'll be building a Swap calculator for FRR Swaps, where the user can specify a period in the past and the calculator will output returns and fees on the variable FRR rate during that period.
If someone could verify my calculations by doing some math, that would be very much appreciated! Id did check it myself of course, but a little miscalculation might have snug in
Cheers Bjorn
Well, I've just addeda FRR Swap calculator to bfxdata.com. PLEASE DO read the disclaimer I added:
"This calculator should accurately output the returns on FRR swaps for the specified period. HOWEVER This was quite a extensive coding job (…) so I can’t completely rule out that along the way some minor (or major!) mistake might have slipped into my calculations. So before starting to send angry e-mails toward the Bitfinex Compliance Department, shouting 'I WAS PAYED TOO LITTLE on my FRR swap for the period xxx to yyy' PLEASE do contact me and share your discrepancies with me so I can check wether or not I might have messed up… I’d prefer discussing these things in the feedback thread on bitcointalk.og, but also I can imagine people aren’t always comfortable sharing financial details in public so contacting me by mail is also fine.
maybe a bit redundant, but of course I checked wether my calculation methods are in sync with bitfinex’ before adding this feature to bfxdata.com"
Link to the FRR calculator http://www.bfxdata.com/calculators/frrswaps.php
or just check the menu
Cheers Bjorn
August 06, 2014, 02:52:54 AM
Any thoughts as to why rates are so far down? Total amount of loans is roughly the same as it has been and I doubt that more people have pumped USD into offers after the July 27 leverage change?
Though I suppose we don't have the stats on unlent out USD as that number would be the one to look at.
Though I suppose we don't have the stats on unlent out USD as that number would be the one to look at.
I would say because of this:
http://www.bfxdata.com/swapstats/usd.php
Ente
August 05, 2014, 10:11:59 PM
Any thoughts as to why rates are so far down? Total amount of loans is roughly the same as it has been and I doubt that more people have pumped USD into offers after the July 27 leverage change?
Though I suppose we don't have the stats on unlent out USD as that number would be the one to look at.
Though I suppose we don't have the stats on unlent out USD as that number would be the one to look at.
August 05, 2014, 09:46:03 PM
BitVC paying 0.02-0.03%/day on swaps. Is that for BTC or USD?
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
BITVC is a black box. You never know how those figures come out. Be careful. http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
August 05, 2014, 05:49:23 PM
BitVC paying 0.02-0.03%/day on swaps. Is that for BTC or USD?
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
That's on BTC. Do they let you lend out USD similar to bitfinex? Any idea what the rates have been like?
Not yet but it is "planned". But if they keep the same system as with BTC, they won't be very successful!
August 05, 2014, 05:45:05 PM
BitVC paying 0.02-0.03%/day on swaps. Is that for BTC or USD?
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
That's on BTC. Do they let you lend out USD similar to bitfinex? Any idea what the rates have been like?
August 05, 2014, 05:40:51 PM
BitVC paying 0.02-0.03%/day on swaps. Is that for BTC or USD?
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
http://www.coindesk.com/huobis-bitvc-opens-new-bitcoin-interest-accounts-all-international-customers/
August 05, 2014, 02:49:09 PM
I now have nearly 50 loans running. People with higher USD amounts might get fragmented even more
I have a somewhat large position open for half a year now. Replacing loans who run out or are overly expensive every day.
You don't want to know how many individual loan-fragments I have in my list..
It's so much of a hassle, I spent a day googling for a working keyboard-macro-software, which does nothing but push "tab blank tab blank" a dozen times for selecting loan-fragments. I couldn't find any working solution.
So I 'happily' hack away every day and mark, move, close loan-fragments. Producing even more fragments every day.
For me, this is the single most annoying thing about Bitfinex at the moment.
Ente
August 05, 2014, 10:26:45 AM
I now have nearly 50 loans running. People with higher USD amounts might get fragmented even more
August 05, 2014, 10:21:55 AM
The bot isn't here yet, noone knows the details of its inner workings.
I, for example, will continue to pay a premium for 30 day loans. If the bot can't do that, I will deactivate it.
Ente
Of course you would, so would I...
We do not know the details but we all kind of suspect how it will work, and we know it will replace existing loans with cheaper ones.
What you do not seem to understand is that if I lend for 30 days and rates go down, you can refinance with cheaper 30 days loans. If they go up a lot, you won't and I can't increase my rate.
We need also real loans with fixed maturity that can not be reduced, or prepayment penalties. Right now, the 30 days lenders, unless at way above market, are providing free options to borrowers on interest rates, as was said before.
August 05, 2014, 07:24:26 AM
BFX, you have to change something about the way swaps are taken. Since some time my "Swaps currently provided" list is cluttered up with dozens upon dozens of absolutely miniscule offers which guarranteedly nobody took out on their own but are part of some faulty matching algorithm.
Lets assume I took five $10 swaps some time ago. You have a $100 offer up, which is the best offer, and with a better rate than my initial swaps. I close mine, and my position is refilled with $50 I borrow from you.So far so good.
However, the engine makes me take five $10 swaps from you. Even though they are all from you, and opened at the same time.
[...]
It is almost impossible to do anything against it, like "defragmenting", with the current engine behavior. Even when you wait until all your funds are returned, and then make one big offer again, people will come and take minuscule amounts because they replace minuscule amounts.
And with every "step" it all fragments more and more.
This is turning into a really annoying problem. Just had an offer (and not a large one) taken in 30 tiny pieces, most of them under $1 each.
Really needs an update to the engine; maybe some sort of batch system - when replacing a swap automatically, wait 10 seconds to see if there are any other old swaps closing at the same time, and if so combine them into one new request.
August 05, 2014, 05:41:49 AM
bfx down?
August 05, 2014, 05:22:22 AM
I do not have a problem with allowing the person to cancel, especially if they are cancelling a loosing trade. Since the swap provider does not have a similar cancellation ability, I think there should be a cancellation fee for the unused remaining time. That way, the swap taker will be more careful about how many days they take.
+1 I do not understand why any lender would provide more than 2 days given they are giving away free options to borrowers who can refinance without any advantage. There was one before as some borrowers were too lazy to do the smart refinancing themselves, but this new bot would do it for them, so lenders have NO reason to provide more than 2 days anymore.
The bot isn't here yet, noone knows the details of its inner workings.
I, for example, will continue to pay a premium for 30 day loans. If the bot can't do that, I will deactivate it.
Ente
August 05, 2014, 04:49:25 AM
I do not have a problem with allowing the person to cancel, especially if they are cancelling a loosing trade. Since the swap provider does not have a similar cancellation ability, I think there should be a cancellation fee for the unused remaining time. That way, the swap taker will be more careful about how many days they take.
+1 I do not understand why any lender would provide more than 2 days given they are giving away free options to borrowers who can refinance without any advantage. There was one before as some borrowers were too lazy to do the smart refinancing themselves, but this new bot would do it for them, so lenders have NO reason to provide more than 2 days anymore.
August 04, 2014, 04:09:12 PM
I'm still curious 1) is this still connected to bitstamp? 2) if say I decide to keep my balance on bitfinex and lend out, what are the chances these guys disappear with my money?
It's all in this thread. Although 200+ pages get a bit long..
Maybe have a FAQ in the OP?
- not connected to bitstamp, as bitfinex has the largest volume now anyway. It's said that in emergencies, like in a flash crash, they would use bitstamp volume to cover things. No idea if/how much funds they have on bitstamp on hold though
- that question doesn't depend on what kind of funds you send them, neither what you do with the funds, nor what exchange you use. "What are the chances btc-e disappear with my bitcoins?". Noone can answer you that.
Ente
We are working on this right now. We are grabbing all the great questions, as well as our answers, and trying to put them all into one aggregated FAQ, which will hopefully be the definitive resource to clarify any confusing issues (this includes any questions about swaps).
Please keep an eye out, as it IS a lot of information to sift through. Any suggestions are, of course, welcome.
-Josh
P.S. I haven't forgotten about your suggestions regarding the "fragmented" swap positions, and I hope to have something to report soon.
That's good to hear!
Yes, you have a lot to catch up - Bitcoiners are impatient folks, so prepare for daily questions "are we there yet?" ;-)
Ente
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