[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 187.

bigsky101

newbie

Activity: 20

Merit: 0

Quote from: TwinWinNerD on June 11, 2014, 09:06:40 PM

Quote from: bigsky101 on June 11, 2014, 09:03:16 PM

Quote from: TwinWinNerD on June 11, 2014, 08:46:09 PM

Quote from: bigsky101 on June 11, 2014, 08:44:17 PM

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way). My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions? I'm sure I'm missing something simple.

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong? I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

click on "manage wallets" and move the DRK from deposit account to the exchange account Wink

Bitfinex is very powerful and offers seperate wallets, so that you don't do something stupid!

Bingo!!! Thanks, answered all of my questions. I really appreciate it, I would have eventually figured it out but who knows how long before I would have stumbled upon that. You saved me a lot of time.

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: bigsky101 on June 11, 2014, 09:03:16 PM

Quote from: TwinWinNerD on June 11, 2014, 08:46:09 PM

Quote from: bigsky101 on June 11, 2014, 08:44:17 PM

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way). My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions? I'm sure I'm missing something simple.

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong? I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

click on "manage wallets" and move the DRK from deposit account to the exchange account Wink

Bitfinex is very powerful and offers seperate wallets, so that you don't do something stupid!

bigsky101

newbie

Activity: 20

Merit: 0

Quote from: TwinWinNerD on June 11, 2014, 08:46:09 PM

Quote from: bigsky101 on June 11, 2014, 08:44:17 PM

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way). My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions? I'm sure I'm missing something simple.

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong? I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: bigsky101 on June 11, 2014, 08:44:17 PM

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way). My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions? I'm sure I'm missing something simple.

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

bigsky101

newbie

Activity: 20

Merit: 0

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way). My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions? I'm sure I'm missing something simple.

thehun

legendary

Activity: 1212

Merit: 1037

My BTC deposit at Bitfinex is not showing up after 10 confirmations Huh

Has anyone had a similar issue?

Delarock

sr. member

Activity: 388

Merit: 250

Quote from: DoubleSwapper on June 11, 2014, 09:20:22 AM

It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

It would make sense that the ability to short would keep it in check, but I don't think it's desirable to short right now. I'm no expert, but it looks like the amount of USD swaps out there is considerably higher than the amount of BTC swaps out which would support my point.

I've been keeping an eye on the spread between BFX and Bitstamp for at least a month now, and, from what I can tell, it's now consistently higher at BFX. I'd really like to know where the change came from.

DoubleSwapper

full member

Activity: 172

Merit: 100

Quote from: BitCoinNutJob on June 11, 2014, 07:31:35 AM

Quote from: jonsi on June 11, 2014, 07:26:49 AM

Quote from: BitCoinNutJob on June 11, 2014, 06:44:54 AM

bitfinex still not deposited at bitstamp Cry

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

Unfortunately BFX has made some quite contrary statements. Check my post history to see them. I have asked BFX regarding their situation with Bitstamp and they have not mentioned that they don't use Bitstamp anymore at all. Then suddenly in reddit posting from Raphael I have linked he casually mentions that they don't long act as a broker for Bitstamp. They sould really clarify what's the deal.

Quote from: Delarock on June 11, 2014, 07:54:20 AM

Quote from: TwinWinNerD on June 10, 2014, 04:31:40 AM

Can you guys explain the 1.66% spread between finex and stamp? Semms unusual high and isn't closed for quite some time now.

Quote from: BitCoinNutJob on June 11, 2014, 07:31:35 AM

Does it have anything to do with margin trading?

A higher price if it is not liquidity related (low liquidity, large spread, low bid, high ask....) or fee related (higher fees, higher bid, higher ask) which we can safely rule out at the moment is often a sign of it being less attractive for people to withdraw fiat and instead withdraw btc leading to higher btc prices (think MtGox for a very long time), also the other way around (easier to deposit fiat ->higher btc price). This would fit as BFX offers no SEPA and now has % fees to withdrawals. It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

noggin-scratcher

full member

Activity: 136

Merit: 100

Quote from: BitCoinNutJob on June 11, 2014, 07:31:35 AM

Quote from: jonsi on June 11, 2014, 07:26:49 AM

Quote from: BitCoinNutJob on June 11, 2014, 06:44:54 AM

bitfinex still not deposited at bitstamp Cry

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

I thought it had been said that they were disconnecting that link, but I can't remember if it was said here or on Reddit.

Found it: http://www.reddit.com/r/BitcoinMarkets/comments/26ujtk/daily_discussion_friday_may_30_2014/chusxnt

"The status is that we are now an exchange on our own, that we usually have markt makers arbitraging with bitstamp but they have funds limits like we used to have. Long story short, while most of the time our price is in sync, it can diverge"

Not exactly announced as such. Just... quietly mentioned.

Delarock

sr. member

Activity: 388

Merit: 250

Quote from: TwinWinNerD on June 10, 2014, 04:31:40 AM

Can you guys explain the 1.66% spread between finex and stamp? Semms unusual high and isn't closed for quite some time now.

Does it have anything to do with margin trading?

jonsi

legendary

Activity: 1397

Merit: 1019

Quote from: BitCoinNutJob on June 11, 2014, 07:31:35 AM

Quote from: jonsi on June 11, 2014, 07:26:49 AM

Quote from: BitCoinNutJob on June 11, 2014, 06:44:54 AM

bitfinex still not deposited at bitstamp Cry

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

No. It's just my opinion, it's not a fact. I stated in my post that "I don't think".
Treat it accordingly.

BitCoinNutJob

legendary

Activity: 1330

Merit: 1000

Quote from: jonsi on June 11, 2014, 07:26:49 AM

Quote from: BitCoinNutJob on June 11, 2014, 06:44:54 AM

bitfinex still not deposited at bitstamp Cry

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

jonsi

legendary

Activity: 1397

Merit: 1019

Quote from: BitCoinNutJob on June 11, 2014, 06:44:54 AM

bitfinex still not deposited at bitstamp Cry

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

BitCoinNutJob

legendary

Activity: 1330

Merit: 1000

bitfinex still not deposited at bitstamp Cry

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

Quote from: bjornw on June 11, 2014, 05:56:31 AM

Are you sure you don't have an active swap offer (not a swap, but just an offer) in the Total return swaps tab?

you were right. Thanks

bjornw

full member

Activity: 152

Merit: 100

Quote from: conspirosphere.tk on June 11, 2014, 05:51:43 AM

for some reason I have 222 LTC 'missing'. They appear in my balance above and in the right column, but not in my wallets:

I already checked that i do not have active orders or swaps, so I wonder how can I exchange them in USD.

Are you sure you don't have an active swap offer (not a swap, but just an offer) in the Total return swaps tab? if funds are reserved for an offer they are not available in your wallets. You first have to cancel the offer before you can transfer the LTC's to your exchange wallet

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

for some reason I have 222 LTC 'missing'. They appear in my balance above and in the right column, but not in my wallets:

I already checked that i do not have active orders or swaps, so I wonder how can I exchange them in USD.

Sukrim

legendary

Activity: 2618

Merit: 1007

afaik FRR is displayed as "0%" - you might try to put an offer for e.g. 1 USD at 0% and see if that is actually FRR.

PirateHatForTea

full member

Activity: 181

Merit: 104

Does anyone know if there is a way to place a lending offer at the Flash Return Rate via the API? The API documentation seems to suggest not:

New offer (lending or borrowing)
POST /offer/new
Submit a new offer.
Request
currency (string): The name of the currency.
amount (decimal): Offer size: how much to lend or borrow.
rate (price): Rate to lend or borrow at. In percentage per 365 days.
period (integer): Number of days of the loan (in days)
direction (string): Either "lend" or "loan".
Response
offer_id (int): A randomly generated ID for the offer.
and the information given by /offer/status

nrd525

legendary

Activity: 1870

Merit: 1023

Does anyone know if you can deduct international wire fees from US taxes? If I used the money to buy BTC/LTC/etc - then it looks like I'd add it to my cost basis. But if the money went into swap loans - how do I deduct it? It might be on Schedule A and only deductible if the total expenses exceed 2% of my AGI (this is a total guess based on very limited internet research).

FYI - my international wire that I sent last December cost $40 (from the US bank) and $18 (deducted from the amount that I sent by the receiving bank I think).

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