[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 194.

Bonez0r

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Quote from: BitBits on June 01, 2014, 04:38:34 AM

Quote from: 8fold on June 01, 2014, 04:18:21 AM

Quote from: xhj005275 on June 01, 2014, 03:40:02 AM

Sometimes I hate bitfinex because I have to waited for several hours to withdraw BTC, it is so terrible, and it never be better!

You won't get far in life with that attitude sir.

+1
I withdraw some BTC quite often and did so countless times. It was not instant for me only once (some time around that malleability issue back in the days, when all exchangers were affected). I guess it may depend on the amount you are withdrawing, but that's a good security feature to have in place.

P.S. I've seen the 2 days instead of the "ordered" swap going out today too, but it was for one at FRR, not others. Perhaps Bitfinex team should have a look at that.

May i ask, why use the FRR in this time of high interest rates (or at any time for that matter)? You're hurting your own profit, and that of other lenders by lending at low interest rate. Below is a screenshot of one of the charts on http://www.bfxdata.com. It's the lowest swap offer over time. You can see that at several times during the last 24 hours, traders have bought up the offers up to 0.8% and above. Why then would you ask only 0.19% (the current FRR) when you can easily get 0.6% or 0.8%? I've added arrows and text to the screenshot to show how much money you're throwing away. I took 0.65% as an example of attainable rate, but you could go even higher, like 0.8%, as that was reached several times during the day.

My auto-renew is at 0.84% currently. Sometimes i manually enter a lower offer if i see on the demands/offers chart (the red/green one, third from the top) that traders are buying up all offers up to that percentage and not higher. Really, take a look at that site and increase your daily swap payment.

BitBits

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Activity: 144

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Quote from: 8fold on June 01, 2014, 04:18:21 AM

Quote from: xhj005275 on June 01, 2014, 03:40:02 AM

Sometimes I hate bitfinex because I have to waited for several hours to withdraw BTC, it is so terrible, and it never be better!

You won't get far in life with that attitude sir.

+1
I withdraw some BTC quite often and did so countless times. It was not instant for me only once (some time around that malleability issue back in the days, when all exchangers were affected). I guess it may depend on the amount you are withdrawing, but that's a good security feature to have in place.

P.S. I've seen the 2 days instead of the "ordered" swap going out today too, but it was for one at FRR, not others. Perhaps Bitfinex team should have a look at that.

8fold

sr. member

Activity: 391

Merit: 250

Quote from: xhj005275 on June 01, 2014, 03:40:02 AM

Sometimes I hate bitfinex because I have to waited for several hours to withdraw BTC, it is so terrible, and it never be better!

You won't get far in life with that attitude sir.

xhj005275

newbie

Activity: 16

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Sometimes I hate bitfinex because I have to waited for several hours to withdraw BTC, it is so terrible, and it never be better!

Bonez0r

full member

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Quote from: Palantir on May 26, 2014, 12:31:38 PM

Quote from: superbit on May 26, 2014, 10:23:10 AM

Incorrect, it has always been this way. Maybe you have just been lucky and had loans taken out for the full time, but it's been like this for almost a year.

Then I must've been super lucky. Thus far when I have lent for 30 days, it always said "30 days". Now, since today, it was "2 days" and "5 days". During the past year I've lent at least a hundred times, probably more. It is possible this could have slipped through me a few times, but if it was often, it would be impossible not to notice.

I too have noticed this since a few days and it's never happened to me before (since i started on Bitfinex in February). So it happened to both of us at around the same time. That does not seem like just coincidence. Maybe the bfx team did change something on the site and didn't announce it?

Normally the duration displayed in "swaps currently provided" would be excactly what i entered when i created the offer. Once taken, it would then disappear/expire whenever the trader decided they didn't want it anymore. Now it seems like traders can set the duration beforehand? I'm not familiar with the margin trading interface, can anyone confirm?

edit: and now, three of my taken offers which had slightly different durations (but all of them around 2 days) have been merged into one bigger offer with 2 days duration. With diffferent durations, that should not be possible? Is someone at bfx tinkering with the code and not announcing it?

illodin

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Quote from: ?? on ??

Quote from: manfred on May 30, 2014, 11:45:14 AM

At this stage Darkcoin is still partly closed source so it could literately include anything and then the doggy code is removed before completely open sourced

This is a very valid and very important point.

Quote from: illodin on May 30, 2014, 12:07:39 PM

The release candidate branch is closed source, the release branch is open source. You can just use the open sourced release version until the RC becomes the new release version (and the source for that is opened as well).

Also, the community was very strongly in favor of keeping the source closed during the first phases of development.

arbitrage001

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Adding more pair in general will benefit lender also, assuming the auto liquidate function work as intended.

nrd525

legendary

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I wonder how well USD swap rates track the future icbit.se contract?

Right now the icbit future for BTC/USD is trading at around 702 for 9/14 settlement. About a 13% increase over the current price or 4%/month - which works out to a lending rate of around 0.00125%.

(1.00125^105 = 1.140)

DoubleSwapper

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Quote from: BitBits on May 31, 2014, 04:44:09 AM

Wow, amount of borrowed funds is just a couple hundred K short of all times high at Bitfinex. That is interesting too.
I am a bit surprised though that not too much shorting is going on right now. One would think that there should be bets on a pull back at this point.

Woah, I didn't see that. You are right! I always had in mind we had a time with 25+ m lend out but it's really below 21 m. Shows that there definitely has been some net influx of new capital. I'm also wondering about the shorts. I've read before several times that the november bubble was only possible due to the inaccessibility of shorting which would have otherwise flattened out such a bubble in a "normal" market. While shorting is still not available at bitstamp, mtgox which had no shorting is now gone, BTC-e offers limited access to shorts and BFX is a shorters paradise. No idea about the chinese exchanges. This is definitely gonna be interesting.

BitBits

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Wow, amount of borrowed funds is just a couple hundred K short of all times high at Bitfinex. That is interesting too.
I am a bit surprised though that not too much shorting is going on right now. One would think that there should be bets on a pull back at this point.

Sukrim

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I'd rather lend my USD to someone who wants to trade 5:1 margins against BTC than to someone who trades 2:1 against DRK.

Anyways, nice interest spikes lately!

Interest gets interesting again!

medicine

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Quote from: BitBits on May 30, 2014, 03:56:48 PM

Quote from: 2586 on May 30, 2014, 02:29:39 PM

As another swap provider, I'd really like the ability to opt out of providing swaps for LTC margin trading, and would consider the opt-out feature mandatory if DRK is implemented. In general I'd encourage Bitfinex to stay away from pointless "me too" altcoins (which at this point is all of them, possibly excepting Namecoin or Zerocash).

+1
and I too like the idea of per-coin USD swaps provision very much.
P.S. Those discussing darkcoin here, you are not PMing each other, you do realize that, right?

Normally I would ask this discussion about drk to be taken to another thread, but I also agree that for lenders it is much much more risky, and people who trade on Bitfinex and follow this thread should know about this potential development. There isn't any proof that its actually being added yet right?
Nice work everyone finding a solution to this before it even happens. Having an option to opt out of lending to a trader wanting to buy DRK is the way to go for sure.
Peace

BitBits

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Quote from: 2586 on May 30, 2014, 02:29:39 PM

As another swap provider, I'd really like the ability to opt out of providing swaps for LTC margin trading, and would consider the opt-out feature mandatory if DRK is implemented. In general I'd encourage Bitfinex to stay away from pointless "me too" altcoins (which at this point is all of them, possibly excepting Namecoin or Zerocash).

+1
and I too like the idea of per-coin USD swaps provision very much.
P.S. Those discussing darkcoin here, you are not PMing each other, you do realize that, right?

2586

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As another swap provider, I'd really like the ability to opt out of providing swaps for LTC margin trading, and would consider the opt-out feature mandatory if DRK is implemented. In general I'd encourage Bitfinex to stay away from pointless "me too" altcoins (which at this point is all of them, possibly excepting Namecoin or Zerocash).

illodin

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Quote from: manfred on May 30, 2014, 11:45:14 AM

At this stage Darkcoin is still partly closed source so it could literately include anything and then the doggy code is removed before completely open sourced

The release candidate branch is closed source, the release branch is open source. You can just use the open sourced release version until the RC becomes the new release version (and the source for that is opened as well).

sin242

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Activity: 280

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Quote from: superbit on May 30, 2014, 11:53:53 AM

I see no reason that they can't add DRK as an exchange coin, BUT, I totally disagree with it being able to be traded on margin, or at least let the lenders opp out of it. I would maybe throw 5% of my lending funds at it, at enormous interest rates, but that's about it.

If no way for lenders to opt out and it was included in margin trading I would have to move my funds out as well. Way too risky.

It would seem to be a very easy thing to allow an "opt-out" for dark. I would even say that keeping it on some type of probationary status would be an excellent idea. Perhaps only allow
trading dark for btc/ltc initially, then expanding it to include usd if it proved a good addition so on and so forth...

superbit

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I see no reason that they can't add DRK as an exchange coin, BUT, I totally disagree with it being able to be traded on margin, or at least let the lenders opp out of it. I would maybe throw 5% of my lending funds at it, at enormous interest rates, but that's about it.

If no way for lenders to opt out and it was included in margin trading I would have to move my funds out as well. Way too risky.

manfred

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Energy is Wealth

Quote from: DoubleSwapper on May 30, 2014, 11:11:55 AM

As a swap provider I will immidiately withdraw all of my funds from bitfinex in case of BFX adding darkcoin to their trading platform for mainly two reasons:

1. possible legal implications already mentioned in this thread.

2. As a swap provider I cannont decide on whom I'm lending funds and what for. While I feel pretty comfortable lending out money for btc trading and grudgingly accept ltc trading I will not lend out money to people trading a 4 months old shady coin which could go down to a cent any second (auroracoin for example which has lost over 99.5 % of it's peak value). As I can not decide to whom my funds go and feel that BFX is already operating on thin ice with its theoretical swap fund insurance I have no other choice than pulling out in case of a darkcoin adding.

I have chosen bitfinex for their supposed integrity and professionalism in the past and made a deliberate choice not to put a single cent into amateurish joke exchanges such a cryptsy and hope BFX values their image higher than some potential short term profits made from a at best dubious coin without any history.

+1
even shady BTCe seams more professionally run.
At this stage Darkcoin is still partly closed source so it could literately include anything and then the doggy code is removed before completely open sourced

coins101

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I don't want to push Darkcoin here. Just a view on regulatory concerns on any anonymity features inside digital currencies.

Quite a few have asked the question about regulations and crypto that tries to hide transactions from public block chain ledgers.

One of the senior US regulators was asked the question, and she gave a detailed answer. Its not much different to the way they will be looking at Bitcoin.

https://www.youtube.com/watch?v=M7bbDpwlTws&feature=youtu.be&t=11m48s

The main point is that the public ledger is anonymous. Transacting with exchanges, merchants, etc, that require KYC will still require people to provide verifiable and acceptable proof of identity.

Delarock

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I'm looking for a little help with trailing stops... I'm a little confused about the syntax and how they operate.

I want to set a trailing stop on a buy to protect a short trade. I margin sold 1 BTC at 620 and I want to set a trailing stop at 610. What would be the correct way to place this if the current price is 615? When I delete everything in the box, it says price distance, but price distance related to what?

My understanding of a trailing stop is that once the price crosses below that threshold (in this case, 610), the system converts it to a market order if and only if the price moves upwards past 610. If it continues downwards, it will keep moving the bar downwards, but how much upwards will it move before it sets the market order? If price goes to 610 and then 605, where will it buy relative to 605?

Searched around, couldn't find a good answer.

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 194. (Read 723861 times)