Bitcoin Forum>Economy>Marketplace>Service Discussion>Exchanges
Pages:
Author

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 192. (Read 723861 times)

Joshuar
hero member
Activity: 504
Merit: 500
eidoo wallet
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:22:04 PM
#3390
Quote from: TwinWinNerD on June 01, 2014, 04:21:04 PM
Quote from: Joshuar on June 01, 2014, 04:19:55 PM
You guys realize that Bitifinex is looking at the $, which is what any exchange with half a mind would do.

Darkcoin has A Lot of buys/sell every hour, much less everyday. There are Buys in the 100s of BTC's.

Dark would bring Bitifinex a lot of new revenue...

Yes but I guess a lot of traders frown apon adding such a coin and will consider leaving this site. There aren't only upsides Wink

The amount of traders coming in, with 100s of BTC and USD to trade DRK will far outnumber the # leaving because of ignorant reasons frankly..

Dark is traded more than Litecoin and DRK is the 2nd most traded coin besides BTC itself..
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:21:04 PM
#3389
Quote from: Joshuar on June 01, 2014, 04:19:55 PM
You guys realize that Bitifinex is looking at the $, which is what any exchange with half a mind would do.

Darkcoin has A Lot of buys/sell every hour, much less everyday. There are Buys in the 100s of BTC's.

Dark would bring Bitifinex a lot of new revenue...

Yes but I guess a lot of traders frown apon adding such a coin and will consider leaving this site. There aren't only upsides Wink
Joshuar
hero member
Activity: 504
Merit: 500
eidoo wallet
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:19:55 PM
#3388
You guys realize that Bitifinex is looking at the $, which is what any exchange with half a mind would do.

Darkcoin has A Lot of buys/sell every hour, much less everyday. There are Buys in the 100s of BTC's, more than Litecoin....

Dark would bring Bitifinex a lot of new revenue...
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:16:11 PM
#3387
Quote from: wilfried on June 01, 2014, 04:04:23 PM
Quote from: TwinWinNerD on June 01, 2014, 04:00:07 PM
Quote from: wilfried on June 01, 2014, 03:58:30 PM
Quote from: TwinWinNerD on June 01, 2014, 03:54:05 PM
Quote from: wilfried on June 01, 2014, 03:51:50 PM
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx

it is there to add liquidity, not to prevent arbitrage. Arbitrage is something positive for the market and the trading sites.

ok, but how comes my orders @ bitstamp prices are never filled, if bitfinex prices are higher?

Because Bitfinex doesn't have funds 100% of the time on bitstamp. Also you have to calculate the spread that gets added. Trading fees on BFX <<

thats not possible is it? they are routing the order to bitstamp after adding/substracting bitstamp fees, so one bitstamp order generates revenue for bitfinex? i think the fees bitfinex pays to bitstamp are included in the fees that bitfinex takes from the customers.

No, look at it this way. You want to buy at 1000$ at bitfinex.

Bitfinex will either execute your order at 1000$ on finex or 1000+X$ on bitstamp. X = the difference between bitstamp fee - bitfinex fee. So for 0.4% - 0.2% = 0.2%   So X would be 1000 *0.002 = 2$

The order would only get filled on bitstamp if the price reaches 1002 there Wink
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:06:05 PM
#3386
Quote from: TwinWinNerD on June 01, 2014, 04:02:40 PM
Quote from: wilfried on June 01, 2014, 04:00:48 PM
Quote from: roede94105 on June 01, 2014, 03:57:39 PM
Quote from: wilfried on June 01, 2014, 03:55:11 PM
one thing about the darkcoin stuff going on on the site:

bitfinex guys, please tell us one/two days before you switch on that darkcoin trading,
cause the btc price on bitfinex will plummet then, because nobody trusts that darkstuff and that will cause a lot of margin calls and so a lot of liquidity beeing trashed, because as we all know all funds are insured by themselves..

Maybe they will add a feature so you decide what your BTCs can be lend for, is that possible?

no, i mean that people will get out of bitfinex as soon as that darkstuff is beeing switched on, just to wait and see how things develop and so it will cause a massive drop in bitfinex-btc-price (for example the kind of guys that think darkcoin is a scam or stuff and bitfinex is involved or other thoughts).

Why would the price decline? People would cashout with BTC rather than USD. So price would climb, if anything happens.

we will see, but you dont know for sure, so i´d rather stop offering swaps thank risking them
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:04:23 PM
#3385
Quote from: TwinWinNerD on June 01, 2014, 04:00:07 PM
Quote from: wilfried on June 01, 2014, 03:58:30 PM
Quote from: TwinWinNerD on June 01, 2014, 03:54:05 PM
Quote from: wilfried on June 01, 2014, 03:51:50 PM
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx

it is there to add liquidity, not to prevent arbitrage. Arbitrage is something positive for the market and the trading sites.

ok, but how comes my orders @ bitstamp prices are never filled, if bitfinex prices are higher?

Because Bitfinex doesn't have funds 100% of the time on bitstamp. Also you have to calculate the spread that gets added. Trading fees on BFX <<

thats not possible is it? they are routing the order to bitstamp after adding/substracting bitstamp fees, so one bitstamp order generates revenue for bitfinex? i think the fees bitfinex pays to bitstamp are included in the fees that bitfinex takes from the customers.
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:02:40 PM
#3384
Quote from: wilfried on June 01, 2014, 04:00:48 PM
Quote from: roede94105 on June 01, 2014, 03:57:39 PM
Quote from: wilfried on June 01, 2014, 03:55:11 PM
one thing about the darkcoin stuff going on on the site:

bitfinex guys, please tell us one/two days before you switch on that darkcoin trading,
cause the btc price on bitfinex will plummet then, because nobody trusts that darkstuff and that will cause a lot of margin calls and so a lot of liquidity beeing trashed, because as we all know all funds are insured by themselves..

Maybe they will add a feature so you decide what your BTCs can be lend for, is that possible?

no, i mean that people will get out of bitfinex as soon as that darkstuff is beeing switched on, just to wait and see how things develop and so it will cause a massive drop in bitfinex-btc-price (for example the kind of guys that think darkcoin is a scam or stuff and bitfinex is involved or other thoughts).

Why would the price decline? People would cashout with BTC rather than USD. So price would climb, if anything happens.
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:00:48 PM
#3383
Quote from: roede94105 on June 01, 2014, 03:57:39 PM
Quote from: wilfried on June 01, 2014, 03:55:11 PM
one thing about the darkcoin stuff going on on the site:

bitfinex guys, please tell us one/two days before you switch on that darkcoin trading,
cause the btc price on bitfinex will plummet then, because nobody trusts that darkstuff and that will cause a lot of margin calls and so a lot of liquidity beeing trashed, because as we all know all funds are insured by themselves..

Maybe they will add a feature so you decide what your BTCs can be lend for, is that possible?

no, i mean that people will get out of bitfinex as soon as that darkstuff is beeing switched on, just to wait and see how things develop and so it will cause a massive drop in bitfinex-btc-price (for example the kind of guys that think darkcoin is a scam or stuff and bitfinex is involved or other thoughts).
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 04:00:07 PM
#3382
Quote from: wilfried on June 01, 2014, 03:58:30 PM
Quote from: TwinWinNerD on June 01, 2014, 03:54:05 PM
Quote from: wilfried on June 01, 2014, 03:51:50 PM
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx

it is there to add liquidity, not to prevent arbitrage. Arbitrage is something positive for the market and the trading sites.

ok, but how comes my orders @ bitstamp prices are never filled, if bitfinex prices are higher?

Because Bitfinex doesn't have funds 100% of the time on bitstamp. Also you have to calculate the spread that gets added. Trading fees on BFX <<
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:58:30 PM
#3381
Quote from: TwinWinNerD on June 01, 2014, 03:54:05 PM
Quote from: wilfried on June 01, 2014, 03:51:50 PM
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx

it is there to add liquidity, not to prevent arbitrage. Arbitrage is something positive for the market and the trading sites.

ok, but how comes my orders @ bitstamp prices are never filled, if bitfinex prices are higher?
roede94105
sr. member
Activity: 294
Merit: 250
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:57:39 PM
#3380
Quote from: wilfried on June 01, 2014, 03:55:11 PM
one thing about the darkcoin stuff going on on the site:

bitfinex guys, please tell us one/two days before you switch on that darkcoin trading,
cause the btc price on bitfinex will plummet then, because nobody trusts that darkstuff and that will cause a lot of margin calls and so a lot of liquidity beeing trashed, because as we all know all funds are insured by themselves..

Maybe they will add a feature so you decide what your BTCs can be lend for, is that possible?
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:55:11 PM
#3379
one thing about the darkcoin stuff going on on the site:

bitfinex guys, please tell us one/two days before you switch on that darkcoin trading,
cause the btc price on bitfinex will plummet then, because nobody trusts that darkstuff and that will cause a lot of margin calls and so a lot of liquidity beeing trashed, because as we all know all funds are insured by themselves..
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:54:05 PM
#3378
Quote from: wilfried on June 01, 2014, 03:51:50 PM
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx

it is there to add liquidity, not to prevent arbitrage. Arbitrage is something positive for the market and the trading sites.
2586
member
Activity: 77
Merit: 13
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:52:31 PM
#3377
Quote from: DoubleSwapper on June 01, 2014, 03:43:46 PM
I'm not neutral. I'm heavily against adding DRKUSD as a margin pair but even I saw today what had been described in the thread. The tabs under exchange and margin were smaller and there was exactly enough space for two more pairs. From what I have written I fully believe BFX plans to add DRK. Raphaels answer couldn't be more clear about it.

http://www.reddit.com/r/Bitcoin/comments/26uhkp/warning_bitfinex_is_bugged/



Fair enough, I guess that puts my suspicions to rest.
wilfried
sr. member
Activity: 288
Merit: 250
ManualMiner
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:51:50 PM
#3376
is the bitstamp-bitfinex link so that arbitrage is not possible? i.e. if bitstamp price is lower than you cant buy @ the bistamp price and vice versa; but then, how comes they have the same price-curves, how is the linking explainable practically? thx
TwinWinNerD
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:49:46 PM
#3375
Oh dear lord, please have mercy and don't let DRK be traded with margin. I don't want my precious USD to be lent to those traders Sad
DoubleSwapper
full member
Activity: 172
Merit: 100
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:43:46 PM
#3374
Quote from: 2586 on June 01, 2014, 03:38:07 PM
Quote from: sin242 on June 01, 2014, 03:32:00 PM
Quote from: 2586 on June 01, 2014, 03:15:00 PM
Can anyone trustyworthy vouch for whether the original "evidence" of Bitfinex intending to add DRK ever existed in the first place?

I took this earlier today inside my account (which was very recently opened because of the initial dark rumors) This hasn't been posted anywhere else, not a recycled shot

I'm looking for a confirmation from someone who's neutral on the matter. Someone who's been using Bitfinex for a while and isn't invested in DRK.
I'm not neutral. I'm heavily against adding DRKUSD as a margin pair but even I saw today what had been described in the thread. The tabs under exchange and margin were smaller and there was exactly enough space for two more pairs. From what I have written I fully believe BFX plans to add DRK. Raphaels answer couldn't be more clear about it.

http://www.reddit.com/r/Bitcoin/comments/26uhkp/warning_bitfinex_is_bugged/

sin242
sr. member
Activity: 280
Merit: 250
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:40:08 PM
#3373
Quote from: 2586 on June 01, 2014, 03:38:07 PM
Quote from: sin242 on June 01, 2014, 03:32:00 PM
Quote from: 2586 on June 01, 2014, 03:15:00 PM
Can anyone trustyworthy vouch for whether the original "evidence" of Bitfinex intending to add DRK ever existed in the first place?

I took this earlier today inside my account (which was very recently opened because of the initial dark rumors) This hasn't been posted anywhere else, not a recycled shot

I'm looking for a confirmation from someone who's neutral on the matter. Someone who's been using Bitfinex for a while and isn't invested in DRK.


Fair enough.
2586
member
Activity: 77
Merit: 13
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:38:07 PM
#3372
Quote from: sin242 on June 01, 2014, 03:32:00 PM
Quote from: 2586 on June 01, 2014, 03:15:00 PM
Can anyone trustyworthy vouch for whether the original "evidence" of Bitfinex intending to add DRK ever existed in the first place?

I took this earlier today inside my account (which was very recently opened because of the initial dark rumors) This hasn't been posted anywhere else, not a recycled shot

I'm looking for a confirmation from someone who's neutral on the matter. Someone who's been using Bitfinex for a while and isn't invested in DRK.
sin242
sr. member
Activity: 280
Merit: 250
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
June 01, 2014, 03:32:00 PM
#3371
Quote from: 2586 on June 01, 2014, 03:15:00 PM
Quote from: Joshuar on June 01, 2014, 12:49:47 PM
Quote from: 2586 on June 01, 2014, 12:46:52 PM
Quote from: DoubleSwapper on June 01, 2014, 11:44:58 AM
Offering money for 0.2 % percent is not worth it if your funds can lose 10 % because of a DRK crash.

It's even worse if you're lending BTC. A 10% loss would take out multiple years worth of interest.  Sad

Weird..because I remember Litecoin crashed from $50 to $30, and from $30 to 10........

That's more than 70% value lost...

I also remember Bitcoin crashed from $1200 to $400....

But what I remember most, is Darkcoin went from $0.70 to $15, and we're still in the beginning...

You guys in this thread are Beyond hyptocritical.

We're not talking about value lost, we're talking about actual USD or BTC lost. As in, I lend out 10 BTC to margin traders and only get 9 BTC back due to forced liquidation going awry. In that case I've lost 10% of my lent funds, regardless of what the price of BTC does in the meantime.

Anyone feel like we're being brigaded by the Darkcoin folks? This whole thing smells like a plot cooked up by DRK holders to pump up the price. Can anyone trustyworthy vouch for whether the original "evidence" of Bitfinex intending to add DRK ever existed in the first place?

"They added a blank order book for it" is definitely bullshit, since you can get a blank order book for anything: https://www.bitfinex.com/pages/order_book/?pair=abcdef


I took this earlier today inside my account (which was very recently opened because of the initial dark rumors) This hasn't been posted anywhere else, not a recycled shot





Your call on what you think about it
Pages:
Bitcoin Forum>Economy>Marketplace>Service Discussion>Exchanges
Jump to: