Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 167. (Read 723861 times)

Ente, read back a few posts, noggin-sxratcher, explained it  

Something's broken here:



Is this just me?

Ente

You actually have a good point... Just checked the forum rules:



 

Simply spamming it is probably not ok, putting it in your signature (not too flashy) is fine.

I don't mean to be rude, but is it allowed on this forum to post your own affiliate links?  I know other forums ban people for doing that.  I just want to make sure I don't get banned for doing the same thing.

It has been done now showing 2000 offers. Well that is it shows all offers up to 1 % per day, otherwise the charts become unreadable a lot of the time... I need to look into this at some point. I should be able to make all offers/demands visible in the chart but set the chart to an initial zoom of <1% so visitors can decide themselves wether or not to display more. +1 for my todo list

Looks like 'finex needs to increase the number of swap offers they display.

Right now there's precisely 1000 offers in the list on the site (same set in the data presented on bfxdata.com), 939 of which are set at FRR, meaning that very little of the rest of the book gets displayed and it looks as if offers just stop at about 0.163%

You can't find your referrel link (yet). you first have to be added by the bitfinex team. So mail [email protected] and request to be added to the referral program. You can of course allways give your brother my ref code and help support http://www.bfxdata.com. check my signature below or click on the red link in the bfxdata menu.
Cheers Bjorn

When I signed up there was a box for referral link, so now I want to get my brother to sign up but I can't find my referral link - Does anyone know where to find my referral link? I feel like I have searched the site endlessly (maybe I'm blind, or just dumb or both), but I can't seem to find it. Can someone point me in the right direction?

Is it? How long did it last? (assuming everything is fine now)

Hello,

If I understand it correctly, the swap is closed, but still listed on the "Swaps currently provided" table right?

If that happens, you can refresh the page (F5) and it should get all back in order. It may happens that the connexions to the server is broken for some reason.

Let me know if it helps

Raphael

Yep looks like the site is having issues. Offers are not posted on the swap book unclescrooge to the rescue!!!!!!!!

waiting usually helps. If not send a email to [email protected]

I have a problem, my offered swap was taken for a few minutes, then closed. Now I am stuck witht the 30 days time frame and cannot close my offered swap anymore. My money is neither offered, nor taken nor closed, it is kind of frozen, listed under "Swaps currently provided". Anybody has a solution for this?

sneak preview anyone?

I'm building pages for total return swaps where the user can specify the period of swaps and get stats and charts for the selected period (offers/demands/history).
Basically the same as the "live" swapstats pages but filterable on period. There's a period selector top right to set a period. The pages won't have live updates (for now) where the normal swapstats pages do.

Be aware it's not completely ready yet, but does work as it should as far as I can see now.

http://www.bfxdata.com/swapstats_var_period/usd.php (btc and ltc not available yet)

As always any suggestions are welcome. Regards Bjorn

I'm not affiliated with anyone, but 'finex announced in March that they were extending the 'insurance' that had previously been optional (and drawing from a permanently underfunded pool, so it wasn't really an option most of the time) to cover all swaps. So the idea is that BitFinex would cover the loss in the case where a margin call fails to recover what the trader owes.

Meaning that the remaining risk is that of a widespread sudden catastrophic meltdown, where the losses are too great for them to bear and then... we're not sure what happens then - either they go bankrupt and all is lost, or they pass losses on to swap providers and almost all is lost.

I have a simple question to the bitfinex:
Do lenders bear ANY risk of trading? (In how it works you write: "You are not exposed to exchange risk when you lend with Bitfinex.")

In case there is are rapid swings in BTC price and speculators position does not cover all the losses after margin call, who covers the difference? Does bitfinex covers it, or does the lender looses some of his/her money?

Feature request for lenders regarding the new changes, specifically the swap rate bot:

It's unfair to give borrowers a automated functionality to close swaps for ones with better rates, and not give lenders the possibility to at least match the rate of the swap the bot is going to go for before closing your swap.

For example if I provide a 10 day $1k swap at 1.6 and the bot of my borrower sees a similar swap at 1.59 before it closes mine it'll be nice to have an option (maybe an opt-in option in the Offer Swap form) to "if the borrower of the swap bot finds a better rate, match it to avoid closing of the swap".

So at least lenders have an also automated way of ensuring their swaps won't get closed when rates go down.

Raphael, thanks for a great response. I am a little shocked to learn that most long users don't hold any USD collateral (though it makes sense if one's objective is to be as long BTC as humanly possible); for me this is the missing piece of the puzzle. Considering only USD as collateral for leverage calculations means that the bounds for collateral to position cost, rather than being 1 and 2.5, are actually 1 and infinity (the latter being the case where the whole margin balance is funded with Bitcoin). So the bounds on the drop in demand are 0% and 100% (not very informative bounds!). And you say that most leveraged long positions are based on BTC alone, so we can expect the drop to be closer to 0% than 100%. Good to know.

The fact that there is so much unrealized swap interest payments and that some of that is going to have to be paid for by selling BTC (since outstanding swap interest > USD collateral balances) makes me a little nervous. Have you thought much about your methodology for smoothing this out? What is your plan?

Say for example someone who has only BTC collateral, which you stated is very common. Say they have 5BTC collateral, a 10BTC open position, and $500 in unrealized swap interest (this would correspond to opening their position about a month ago say). If they have to pay the swap interest all at once, then 0.83 of their bitcoin, over 8% of their position, will have to be liquidated. How do you plan to amortize this?

Glad you like the auto-lend bot idea. I wrote up a pseudo-code design to do this but haven't yet got around to writing an actual bot implementation. Would love to see it as a standard feature though. Having both buy and sell side automation would greatly increase the market efficiency, to the extent that you could possibly even remove the FRR feature (since at the time of placing an offer you are getting the market rate). Then again perhaps an auto-lend bot would lead to a natural decline in the use of FRR, ie the market will decide.

Good one