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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 202. (Read 723861 times)

full member
Activity: 172
Merit: 100
My swaps have not been closed so far although I had sent a very detailed email 2 hours ago. I wonder if there is something wrong with my mail since I have had one other support request per mail a couple of months ago which was also never answered. :-/


EDIT: Swaps still not closed....both support emails unnanswered...going to sleep now...not able to set my normal rates.
full member
Activity: 172
Merit: 100
My swaps have not been closed so far although I had sent a very detailed email 2 hours ago. I wonder if there is something wrong with my mail since I have had one other support request per mail a couple of months ago which was also never answered. :-/
legendary
Activity: 1974
Merit: 1029
No verification is required for crypto deposits or withdrawals, this has not and will not change.

Thanks for this statement. I don't plan to deal with fiat in bitfinex and it's nice to know this.
full member
Activity: 172
Merit: 100
Hello everyone,

Please don't lose faith so quickly Smiley

So yes there was a bug that sent the rate of offers posted to be 365 less than what they should.

It is now fixed as I speak.

if you had offers taken at a rate you did not want to, please send us an email at [email protected]

Please accept my apologies for the panic caused.

have a good day
Raphael

Confirmed. Thnx for quick reply
Have you already sent a mail? Were your swaps already closed?
...

Yep my erroneous swaps have already been closed

On a separate note, we went from 13MM open usd swaps on April 12 to over 17MM now and the rate is still bellow 0.1%  Shocked
Good to know. Hasn't happened for me unfortunately though.

And yes the swap rate is behaving very strange. We've come from some really, really deep trough and even touched 0.05 but then the swap rate has bounced up violentely in the past days as well with a short term high of 0.37. It's strange how there are constantly people adding those extremely low offers at sub 0.08 when we can see that 0.11 to 0.13 gets taken because the swap order book is so thin at the bottom. I think we will need some serious bull trend which last for more than a few days to get us back in the range of 0.2 to 0.3 for a prolonged period and even then I'm not too sure whether the constant influx of new money for swaps hasn't diluted the possible interest rate.
newbie
Activity: 42
Merit: 0
Hello everyone,

Please don't lose faith so quickly Smiley

So yes there was a bug that sent the rate of offers posted to be 365 less than what they should.

It is now fixed as I speak.

if you had offers taken at a rate you did not want to, please send us an email at [email protected]

Please accept my apologies for the panic caused.

have a good day
Raphael

Confirmed. Thnx for quick reply
Have you already sent a mail? Were your swaps already closed?
...

Yep my erroneous swaps have already been closed

On a separate note, we went from 13MM open usd swaps on April 12 to over 17MM now and the rate is still bellow 0.1%  Shocked
full member
Activity: 172
Merit: 100


EDIT: Oh wow, that was some sick timing. You just answered the questions! Thank you!

Actually, we have 2 pages in your history to review your offered swaps ("unused" and "margin" swaps) which shows your swaps that were:
-Unused by traders
-Used in a margin position

As well as time of opening and closing, and rate.

This should help you calculate required rate.

At the moment we provide history of FRR via API, which is not very convenient, but can still be informative. I hope to have a FRR hourly history ready soon (read: when we have time to pull this)

Thank you
Raphael
Thank you for the information. I know this and have used it in the past to check whether swaps were taken and returned when I was afk. Unfortunately it has only opening and closing time through which you can calculate the amount of "1 hour ticks" of interest you've received but that is not really that convenient. Better than nothing though.

Can you give an estimate on how long it will take for your support team to close the swaps which were handed out on a too low rate because of the bug and whether they will count towards todays payment rate or towards swap payment rate at all?
hero member
Activity: 868
Merit: 1000


EDIT: Oh wow, that was some sick timing. You just answered the questions! Thank you!

Actually, we have 2 pages in your history to review your offered swaps ("unused" and "margin" swaps) which shows your swaps that were:
-Unused by traders
-Used in a margin position

As well as time of opening and closing, and rate.

This should help you calculate required rate.

At the moment we provide history of FRR via API, which is not very convenient, but can still be informative. I hope to have a FRR hourly history ready soon (read: when we have time to pull this)

Thank you
Raphael
full member
Activity: 172
Merit: 100
Hello everyone,

Please don't lose faith so quickly Smiley

So yes there was a bug that sent the rate of offers posted to be 365 less than what they should.

It is now fixed as I speak.

if you had offers taken at a rate you did not want to, please send us an email at [email protected]

Please accept my apologies for the panic caused.

have a good day
Raphael

Confirmed. Thnx for quick reply
Have you already sent a mail? Were your swaps already closed?

@Raphael can you please answer the questions I've posted here yesterday?

@ bitfinex team:

Quote
1. Why is the swap payment being paid out so late since some time? Wasn't it supposed to be paid out at like 1:00 am? At the moment it's more like 3:00 am? Why is that?

2. Some time ago the paid interest was like 10 % lower than expected and you made some consolidation payment 1 or 2 days later. Could it be that something similar has happened in the last days and the interest rate was calculated too low? Also asking this to other liquidity providers. Have you checked whether your swap payment was correct in the last couple days? At the moment lending is very, very volatile and swaps are taken and returned almost hourly so I am not able to keep track of every loan and it's duration but the last two payments at least seemed a bit low to me although I am not completely sure and it could just be the 15 % taking its dent.


EDIT: Oh wow, that was some sick timing. You just answered the questions! Thank you!
hero member
Activity: 868
Merit: 1000
@ bitfinex team:

1. Why is the swap payment being paid out so late since some time? Wasn't it supposed to be paid out at like 1:00 am? At the moment it's more like 3:00 am? Why is that?

2. Some time ago the paid interest was like 10 % lower than expected and you made some consolidation payment 1 or 2 days later. Could it be that something similar has happened in the last days and the interest rate was calculated too low? Also asking this to other liquidity providers. Have you checked whether your swap payment was correct in the last couple days? At the moment lending is very, very volatile and swaps are taken and returned almost hourly so I am not able to keep track of every loan and it's duration but the last two payments at least seemed a bit low to me although I am not completely sure and it could just be the 15 % taking its dent.

Hello,

The payment are indeed 1 hour later every day however nothing changed apart from this (calculations are the same, on a hourly basis, every 24 hours). We havent add any reports of payment that would be too low either.


A quick word regarding compliance:

No verification is required for crypto deposits or withdrawals, this has not and will not change.

The process of verification is currently worked on to be more in accordance with international as well as local (Hong-Kong) laws, hence some "additional information" requests for already verified customers as the compliance team reviews existing data.

Understand that we love privacy as much as you do, but to survive a legal business has to obey the men with the gun, so to speak (well quite literally actually...). We have however a strict procedure to protect your data, that you can read about here: https://www.bitfinex.com/pages/privacy

Thank you for your understanding
Raphael
Bitfinex team
newbie
Activity: 42
Merit: 0
Hello everyone,

Please don't lose faith so quickly Smiley

So yes there was a bug that sent the rate of offers posted to be 365 less than what they should.

It is now fixed as I speak.

if you had offers taken at a rate you did not want to, please send us an email at [email protected]

Please accept my apologies for the panic caused.

have a good day
Raphael

Confirmed. Thnx for quick reply
hero member
Activity: 868
Merit: 1000
Hello everyone,

Please don't lose faith so quickly Smiley

So yes there was a bug that sent the rate of offers posted to be 365 less than what they should.

It is now fixed as I speak.

if you had offers taken at a rate you did not want to, please send us an email at [email protected]

Please accept my apologies for the panic caused.

have a good day
Raphael
newbie
Activity: 42
Merit: 0
Yeah this is turning ugly api is showing usd swap rate at 0.0002
full member
Activity: 172
Merit: 100
No answers so far, BFX? Don't make me lose faith....
full member
Activity: 172
Merit: 100
Seems like trading is frozen. No order completed since over two minutes. Price at 446.14130001. Bids and asks getting posted and pulled though.

EDIT: Not frozen.
full member
Activity: 172
Merit: 100
Thanks for posting this! I thought I had made some idiot fat finger mistake but just saw it's actually a bug. The mask doesn't take the rate into account. I also had an offer taken I had already cancelled because of the wrong rate. BFX FIX THIS ASAP!!! Nearly a third of my money lent out for pennies. WTF seriously? When does this platform start buying btc for me on it's own. Something like this mustn't happen under any circumstances!
newbie
Activity: 42
Merit: 0
Ummm WTF tried to post few USD swap offers at 0.146% and this kept happening Huh

http://s30.postimg.org/mxfbygyhd/Offer1.png

http://s30.postimg.org/kinge1i8h/Offer2.png

And this briefly popped up!
http://s30.postimg.org/ob6ytrxqp/Huh.png

Tried few times before i realized what kept happening!!!
http://s30.postimg.org/j2bxvwfbl/wtf.png
member
Activity: 65
Merit: 10
did you apply for verification already (and get your account verified?), or were you using bitfinex as an "anonymous" user? if already verified an official announcement from bitfinex might be in place here, just a suggestion
Yes, I also received this a couple weeks ago.  I filled out the form and sent it in along with my comments about how angry I was about it.  They understood and I am still trading. 

They do need to be much more active by making announcements on their website and on Bitcoin talk I agree.  I hate these out of the blue changes they implement with absolutely no notice what so ever.

Agree.

1. I was already in verified status since last year
2. When I withdraw my money last month, they ask me to submit, passport copy and address proof using email
3. Last week, they ask me to fill in the source of fund questionnaire and copy of 2nd ID document using email


And this time the email is specific to a person. I guess Bitfinex has selected whose net worth exceed a certain threshold to send the email.


I suggest Bitfinex should state the AML/KYC requirements and policies CLEARLY in the announcement / FAQ section

1. Different levels of verification
2. Identification document requirement for each level
3. Net worth threshold for each level
4. Withdrawal limit (in terms of amount of fiat / BTC / LTC)  for each level


Now, It looks like that they just set an arbitrary threshold and demand documents from customers. And they don't let customers to choose what level of verification that customer is comfortable with.


Can't agree more.
hero member
Activity: 798
Merit: 1000
Hello bitfinex, I'm one of your customer.

On total return swap, autorenew has "Notify when offer is taken" option.
But this is not working now, plz fix it.

Yes this hasnt worked for me for a while either.
newbie
Activity: 6
Merit: 0
Hello bitfinex, I'm one of your customer.

On total return swap, autorenew has "Notify when offer is taken" option.
But this is not working now, plz fix it.
hero member
Activity: 798
Merit: 1000
i wont give my data unless its a trusred third party, such as a notary.

Which means that your funds will be locked and your account closed, no ?
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