Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 177. (Read 723903 times)

Many people here must  not be willing to, or not be confident enough to take the added risk of margin trading.  You can earn money borrowing money to trade on credit, but you can also lose more money.
I personally like the lending feature because of its high return compared to tradition investment options and its relatively low risk compared to trading btc on margin.  Also I would bet many users are using money the cannot afford to lose, which stops most of them from taking risks with trading. 
I think many people here are newish to trading and the experienced traders have no need to be on here all day asking questions or making comments.

Funny how everyone talks about lenders making money.  I do both borrow and lend, but I have made WAY more borrowing.  Putting in proper stop loss, etc... You can make crazy money borrowing on small 2-3% up ticks in a day when money costs nowhere near that.

If there are more exchanges that allow swaps, it will increase the OFFER rather than the DEMAND, and even lower rates are to be expected.

Truth is I (like many others I presume) didn't know about this in 2013 so I lost my chance of making some big bucks (once again). Oh well...

:->


.. I was referring to 2013, where the rates really were high.. And the rates themselves were volatile too!
I agree with you. The rates might go lower, long-term. And will go up shortterm, in the bubble-in-the-making :-)
..and both "will go up" and "bubble" might turn out to be an understatement. Or not, let's find out!

Ente

What do you mean with "spoiled with unbelievable rates"? Yes, there have been days or more like hours in the (0.5-1 %) bracket which are retrospectively a pure result of manipulation ( I had mentioned these ridiculous spikes from 0.1 to 1 % for exactly one hour several times in this thread) but most of the time the rates are not that great. If you check the period of whole 2014 we can see that this has not been a strong time for lending. Aside from this spike at the end of June interest rate has been constantly declining while the total some of active swaps grows and grows.

I'm sure you are well aware of this site but still http://bfxdata.com/ take a look at the development from 14th June onwards. It's almost comical.

I'm just asking for opinions here. I've stated something simliar a few months ago and disregarding the manipulation my take is that with BFX's popularity increasing and their "insurance" on swaps the platform is bound to be flooded wtih capital seeking interest rates higher than any bank (can or is willing) to offer. This will ultimately result in the interest rate reaching lower and lower levels. In the past few weeks I've seen numerous threads on reddit of people asking for advice on how to put their money on BFX for swaps and whether it's worth it. It surely is but it might not be for a long time anymore.

With the Chinese exchanges brazenly copying the BFX model I'm wondering whether this could (on a perspective on the whole market) lead to more demand and an increase in swap rates again. The other event that has the potential to massively increase the swap rates is another full fledged bubble of course.

Any opinions here?

im waiting on a LTC withdraw for last hour still processing is the hot wallet empty?

Made a typo in the BTC address field once. It got returned after a while on its own. So just wait a while, if it is not here in a few days just contact email support.

Regards

I must say that to be a duck you sound incredibly wise in all of your posts.
 
Keep up the good work and thanks a lot for helping

Giancarlo
Bitfinex Team

..I think we were a bit spoiled, earlier, with those unbelievable rates. Even now, with declining rates, this is an amazing rate compared to any other investment. Minus the risk and volatility of investing directly in Bitcoin.

I like, both from a lenders and borrowers view.

Ente

Seems like the manipulation that was busted by the guy who made the reddit thread has revealed how much swap money there actually is on BFX and how it is pushing the Swap Rate to pathetic levels again.

The market is so bullish at the moment, we have a lot of volatility and the total sum of active swaps is basically at a massive all time high of over 28 mio yet the rate is well below 0.2 % and actually slowly decreasing. Seems like BFX finally has the publicity that the average joe puts his money there to gain some interest. I truly fear for more bearish times. The swap rate will probably ( a bit exaggerated) drop to prime rate levels.

Hi Bitfinex, I saw that you finaly did it. Never recieved my Bitcoin ;-)

I can't speak for the other APIs, but the orderbook API seems to change more often than every 7-9 second: https://api.bitfinex.com/v1/book/btcusd?limit_bids=200&limit_asks=200

Try refreshing that continually in your browser. Sometimes it's updated every second.

Hey guys, please tell me: is there a something I need to know to short LTC/BTC?
BTC is going up, LTC is going down, there are only USD in my trading wallet, and I got -1.341% P/L just after open a short position. What am I doing wrong? Could be any sense in this transaction? I should buy some BTC before I open a short position on LTC/BTC or what?
You don't need to explain much, just ask what should I do.

Any news on this?

In any case, can you let us know how often we can poll the orderbook API (eg. https://api.bitfinex.com/v1/book/btcusd?limit_bids=100&limit_asks=100) without getting banned? Ideally, I would do it constantly (1. make one request, 2. when data is received goto 1.), but I'm afraid that I will get my IP banned. Can you clarify this please (and possibly write the information on your API documentation page)?

I think it would be sensible to allow this, since you don't have a streaming API. Bitstamp does not allow this, but they have a streaming API they can refer users to, which you do not.

Hm, parsing the ledger for fees is not an option? See https://github.com/MarkusTeufelberger/bitfinex2ledger for example.

Can anyone tell me if there is a way through the Bitfinex API to cross reference completed trades with a placed order? For example, if I put a limit buy order for 5 btc @ 635, it may result in 4 or 5 actual trades executing before the order is complete. I'd like to be able to programatically identify all of these trades and their fees, so I can calculate how much I paid in fees on a particular order rather than having to guess at it.

The web interface seems to be able to do this cross reference fairly easy, but I don't see in any of the order or trade information returned from the API a way to do this cross reference reliably.

No, I didn't. I'll explain again: if you put a long with trailing stop (eg $10) the limit will lower with the price and maintain a $10 difference. If the prise start to rise the limit with not rise with it and will execute when the price of btc reach the limit order. It's a stop loss that can be used as take profit also if the price moves in your direction.


-edit-
   Just be careful with stop loss orders, when market moves fast they usualy will not execute at exact value that you set up.
-edit-

Ok, thanks !  (I think you mixed up long and short though  )

It's an absolut diference. If you put a long position the difference remain fix as long as the price fall but when it start to rise the limit doesn't rise with it. If you put a short it's in the other way.

Could somebody explain how the trailing stop on bitfinex works (or point me to the right documentation)?

I understand the general principle, just not how it works in practice.

It seems you have to give up a price.  Does bitfinex then calculate the % difference to the current market price (bid, ask or latest trade?) and keeps that percentage away from the best price so far as a stop loss, or does it calculate an absolute difference (for example for long BTCUSD trade, if I set my price $10 lower than current price, will it allways keep $10 difference from highest price since starting the trailing stop order).