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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 174. (Read 723903 times)

full member
Activity: 126
Merit: 100
Question about "Flash Return Rate". Is the rate fixed at the time of borrowing? Or, if I borrow for 2 days, and on the 2nd day the rate changes, I get the new rate that day?
legendary
Activity: 2618
Merit: 1007
Send a mail to the support address (ideally from the email address you used for your account) asap and notify them. This is not the Bitfinex support forum...
sr. member
Activity: 448
Merit: 250
So, today I try logging in, it says my password is wrong. I try resetting the password, it says no such email. But I logged in with this email just yesterday. So I made a test account, and I can see no way for an email to be changed thru the interface. So even if I was hacked, I don't see how this is possible. Any ideas re: just what the hell is going on?
legendary
Activity: 2126
Merit: 1001
Could be someone having only 1 day left on their position and cycling through loans.

Well, no, then the loan would have its regular, full length displayed, and would have been closed and returned  at some point.

Ente
legendary
Activity: 2618
Merit: 1007
It usually helps to check with something like wireshark how your request actually looked like.
legendary
Activity: 966
Merit: 1000
Hey

I have played around a lot and tried to have then found some on the internet which partly also works well, but i've got a problem.

It's about the Api Bitfinex.com, and although I would like to retrieve via the Api the "last trade" or by trading.

Link: bitfinex.com/pages/api


In the method: GET, with api_path = "/ v1/symbols", it works.

But if I used something else it stops working.

Error: The remote server returned an error: (400) Bad Request.


sry for the english  Wink

anybody can help me / us ?

Code:
VB.NET-Quellcode

    ​
    Public Shared api_url As String = "https://api.bitfinex.com/"
    Public Shared api_key As String = "CodeCodeCode"
    Public Shared api_secret As String ="CodeCodeCode"
    Public Shared api_path As String = "/v1/symbols"
    'Public Shared api_path As String = "/v1/account_infos"
    Public Function check_balance()
    Dim payLoadobject As New PayLoad()
    Dim MySerializer As JavaScriptSerializer = New JavaScriptSerializer()
    Dim payloadJson As String = MySerializer.Serialize(payLoadobject)
    Dim payload As String = Convert.ToBase64String(System.Text.Encoding.UTF8.GetBytes(payloadJson))
    Dim encoding As New System.Text.ASCIIEncoding()
    Dim getmessageBytes As Byte() = encoding.GetBytes(payload)
    Dim secretByte As Byte() = encoding.GetBytes(api_secret)
    Dim gethmacsha384 As New HMACSHA384(secretByte)
    Dim hashmessage As Byte() = gethmacsha384.ComputeHash(getmessageBytes)
    Dim finalString As New StringBuilder()
    For i As Integer = 0 To hashmessage.Length - 1
    finalString.Append(hashmessage(i).ToString("X2"))
    Next
    Dim SIGNATURE As String = finalString.ToString()
    Dim request As HttpWebRequest
    Dim nurl As String = api_url + api_path
    Dim address As Uri = New Uri(nurl)
    request = DirectCast(WebRequest.Create(address), HttpWebRequest)
    request.Accept = True
    request.Method = "GET" 'POST or GET
    request.Headers("X-BFX-APIKEY") = api_key
    request.Headers("X-BFX-PAYLOAD") = payload
    request.Headers("X-BFX-SIGNATURE") = SIGNATURE
    request.AllowAutoRedirect = True
    request.AllowWriteStreamBuffering = True
    request.KeepAlive = True
    Dim response As HttpWebResponse = Nothing
    Dim reader As StreamReader = Nothing
    Dim result As String = Nothing
    Try
    response = DirectCast(request.GetResponse(), HttpWebResponse)
    reader = New StreamReader(response.GetResponseStream())
    result = reader.ReadToEnd()
    Catch ex As Exception
    Return ex.Message.ToString()
    Finally
    If Not response Is Nothing Then response.Close()
    End Try
    Return result
    End Function
    Public Class coptions
    Public hostname As String = "https://api.bitfinex.com/"
    Public port As String = "443"
    Public path As String
    Public method As String = "GET" 'POST OR GET
    End Class
    Public Class PayLoad
    Public request As String = api_path
    Public nonce As String = Convert.ToInt64((DateTime.Now - New DateTime(1970, 1, 1)).TotalMilliseconds)
    Public options As New coptions
    End Class

legendary
Activity: 2618
Merit: 1007
Could be someone having only 1 day left on their position and cycling through loans.
full member
Activity: 172
Merit: 100
If you offer for e.g. 30 days someone can borrow it for 5 days.
Sure, but have you ever seen a swap that was specifically taken for a single day WITH the countdown for being returned set to 24 hours? The swap is now already returned. So it was just like I had put in "1 day" as a period. Never seen this before.
 
legendary
Activity: 2126
Merit: 1001
If you offer for e.g. 30 days someone can borrow it for 5 days.

..and can close it at any moment anyway.

Ente
legendary
Activity: 2618
Merit: 1007
If you offer for e.g. 30 days someone can borrow it for 5 days.
full member
Activity: 172
Merit: 100
Giancarlo, Raphael:

Is it possible that there was a bug with the swap interface today (like the one where the rate was accidently divided by 365 recently). I have some open swaps which say they were opened today and are for 5 days although I basically never enter 5 days as a period but it could be a mistake on my side BUT there is something much stranger. I have an open swap that says it was opened at approx. 12:00 today (it's 22:00 now here) and is set to close in 14 hours? One day swap? What is this madness and how can I abuse it? ;-)
full member
Activity: 140
Merit: 100
@bigasic There isn't too much to it really. If you don't change anything and do a margin trade you'll just get the next available swap assigned. Swaps are nothing more but borrowed money for you to increase your leverage.
The swap tab will show you the market for USD/BTC swaps. It's a free market and the rates are therefore floating. Before you open a margin trade you can click "margin available" to set a maximum rate you're willing to accept and if you want to accept variable rates.
There only is one variable rate, they call it "Flash return rate", and it depends on what other people offer currently.

If you've got some specific questions just ask, but that's basically it Wink
hero member
Activity: 924
Merit: 1000
Im VERY new to margin trading. Is there a trading guide for dummies? Like somewhere that explains it as if your talking to a  10 year old. I know what shorting, long is etc, but when I go to bitfinex, might as well be a foreign language. Im assuming that most people that trade on bitfinex are experienced forex traders.
legendary
Activity: 1870
Merit: 1023
It looks like the FRR has barely moved due to the spike.  0.159 (before) vs 0.1600% to 0.1604% (after).  And that slight increase might be due to other factors (like a small increase in the swap that wasn't part of the spike).
full member
Activity: 136
Merit: 100
I've lost track in all the different bug reports/changes; is there still any way to take a swap without it being subject to the 1-hour minimum?

I gather that unused swaps are always charged for at least 1 hour, but am I right in thinking that used swaps can be closed without incurring the 1 hour cost, so long as they're not using that as a way to cycle through a stack of unused swaps?

I can see the reasoning for it; allow traders to shop around for a better rate without getting hit with 1-hour fees for every intermediary swap they take, but from the perspective of a lender it feels like I've been told there's a 1 hour minimum and yet there are fairly simple and common scenarios where that's not the case, and it's not easy to tell for a given swap (assuming it closes after less than 1hr) whether I've been credited for an hour or a fraction thereof.
full member
Activity: 224
Merit: 100
We could double charge the closing of unused swaps without using them (but it would penalize legitimate use as well).
I hope you will not do this.
full member
Activity: 140
Merit: 100
@unclescrooge:

I absolutely agree with your view on free markets.
If people are stupid and pay high interest it's their fault. It sucks for those that want to increase their exposure without wiring more USD.. but it's fair this way at least.

In case this should ever become a problem, you could still invest your companies money into swaps at a reasonable rate to keep the margin trading liquid.

edit: +1 for using BM! lets spread that Cheesy
hero member
Activity: 868
Merit: 1000
Hello guys,

I am here as well Smiley

So what happens is a lender borrowing up to his tradable balance (which was high enough to let him borrow all the orderbook or so), and paying interests due (or maybe it will be his evening surprise Smiley). In other words, playing by the rules.

Now from my point of view it was not profitable for him to do this, but as long as users are playing by the rules there is nothing we can do. After all if someone want to borrow as much as he can to spike the rates regardless of his costs, then there is nothing we should do from a free market perspective. Similarly if people want to go long at more than 0.1% per day, there is nothing we can do either...

With that said, all ideas are welcome to ensure that unused swaps are not used for manipulation. We could double charge the closing of unused swaps without using them (but it would penalize legitimate use as well). We could prevent closing unused swaps manually (ie you can only use your swaps in a margin position or let it expires until the end of its period). What else?

Or we can just wait for people to realize costs/benefits of manipulation has become too high.

Anyway thank you for your analysis and have a good day
Raphael
full member
Activity: 172
Merit: 100
here i found the statement of rafael about the today spike

http://www.reddit.com/r/BitcoinMarkets/comments/29vjyf/daily_discussion_saturday_july_05_2014/cip13q6

he says it was the same old manipulation, but from a user who didnt know that he would be charged interest,  haha


so for me this thread is officialy dead, changing to reddit (although i really hate that site)
Very interesting. Although Raphael has said something simliar before this exploit was even made public by BID so I wouldn't trust that 100  %.

Interestingly enough Raphael seems to be far more active on reddit than this thread (unfortunately). Best is indeed if you just check his reddit post history to spot the important stuff.
sr. member
Activity: 288
Merit: 250
ManualMiner
here i found the statement of rafael about the today spike

http://www.reddit.com/r/BitcoinMarkets/comments/29vjyf/daily_discussion_saturday_july_05_2014/cip13q6

he says it was the same old manipulation, but from a user who didnt know that he would be charged interest,  haha


so for me this thread is officialy dead, changing to reddit (although i really hate that site)
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