Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 211. (Read 723903 times)

Just tested Bitfinex.com at http://filippo.io/Heartbleed/#bitfinex.com
Fixed I guess.

According to that site Bitfinex is not affected....

Ouch! Thanks for posting this!
You should see the destination address in "withdrawals - recently"

Ente

still awaiting an official response from the bitfinex staff regarding this: http://filippo.io/Heartbleed/#bitfinex.com

i also emailed support about the specific incident with my account. i'm missing out on profit (and took a loss!) because some hacker closed my position and tried to steal my funds

my account was accessed (no 2FA then), my position was closed and hacker tried to run with the btc (3:40 UTC, today)!!
Fortunately , the withdrawal verification hindered him from getting the btc out.

Where can I solicit the btc wallet he tried to send my btc to ??

Nope, no "auto-lending". You have three wallets in your account, one for one function. You can easily move funds between them. Only funds in the "deposit" wallet can be lent out. And only when you actively create an offer (and someone takes it), or you take an offer to lend out.

You are doing absolutely right, learning the ins and outs with a smaller amount first. I recommend this to everyone, unless you really know what you are doing ;-)

Ente

Cloudflare has its own WAF protection.

https://blog.cloudflare.com/staying-ahead-of-openssl-vulnerabilities



Bitfinex should stop BTC/LTC withdrawal until this vulnerability is fixed.

http://filippo.io/Heartbleed/#www.bitfinex.com

Lending aka. "providing USD swap contracts" is entirely market based - you put up offers for time, rate and amount and people who need money can then choose to take your offer or not (if it is too short or too expensive for them for example).

As already said I'd recommend to look at the bfxdata chart site to see how high you can price your interest, if you have no idea at all and just want to lend out as fast and much as possible "flash return rate" is also an option, it is just the global average interest rate, so if interest rates go up, you'll profit too and if there is little demand and they go down, you'll automatically offer your money a bit cheaper as well. If you plan on setting rates yourself ask yourself if it might make more sense to wait a few hours and lend out money at 0.2% instead of always trying to be the cheapest offer in the market to get taken immediately.

If you get similar rates as I do, you'd make ~175USD/day with 125k USD. If you lend out at 0.12% fixed, you'd get ~135 USD/day and lending rates have been below that. If more lenders enter with such crazy amounts (I hope you are prepared/able to loose all of it with little to no recourse, Bitfinex is not a bank!), it likely will go down.

I personally make my own prices (and do quite well compared to FRR as a minimum base line) but it can get boring and is a bit luck based too. Please just don't set it to 0.1% for example and forget about it - it hurts the average, you are loosing ~50% of potential interest at current market conditions and it is still not guaranteed that this will always be the lowest price.

TL;DR: Autorenew at FRR = fire and forget, if you want more than that, you need to manage manually (might be worth it).

There was a report on tradingview about an hour ago about a BFX account compromised with 2FA. The user asserted that it may have to do with this exploit.

Please update us ASAP, Bitfinex. There is a lot of money on the line here.

Poloniex applied the fix 6 hours ago. It seems the Cloudflare-linked sites may be unaffected.

without going into too much detail, my account at Bitfinex was compromised just a few hours ago. my funds are safe due to quick response time on my part, but i am concerned. details of the attack suggest that my password was not known to the attacker, so i'm wondering how they managed to initiate a withdrawal. could this be related?

Swap contracts is very much like a normal trading. You have to specify amount, rate and period as an offer and wait for others to fill your swap contracts.

You may also provide the swaps with flash return rate and auto lend.


Thanks for further pushing the swap rates down by providing $125k liquidity. @@ (Just kidding)

Bitfinex is listed as still being vulnerable to the Heartbleed OpenSSL attack.

http://www.reddit.com/r/Bitcoin/comments/22gq5e/heartbleed_bug_major_openssl_vulnerability_could/cgmyzwz

Bitfinex: Please let us know that you are applying the appropriate fix as soon as possible. Personally I am uncomfortable communicating my login credentials to bitfinex.com until the fix is in place.

I suggest everyone be very cautious here.

hi senorv,

It all depends on the rate you want for your Swap offers. Currently the rate is indeed around 0.12% per day (0.1199% at the moment). So if you were to offer $125,000 at 0.1199% your swap offer will be on top of the lend book and as long as traders are opening leveraged long positions, traders need to take swaps currently offered in the lend book. But everything changes from moment to moment. if someone would offer swaps at 0.115 % those swaps will be taken before yours at 0.1199 %. It's all ask/demand.
You might want to have a look at http://charts-bfxdata.rhcloud.com. You'll find lot's of info about current and historical rates on Swaps of the Bitfinex platform. If you like a 10% discount on trading and swap fees for the 1st month you could use referer code UttOzlC1zZ when opening an account and you'll get a 10% discount on the fees of all trades and Swaps you do in the first 30 days.

Regards Bjorn

Hey everyone.. I'm new to bitcoin trading. I have a lot to learn before I actively start trading. So in the meantime, I wanted to use BitFinex to make some minimal gains via interest while I learn the ropes. I just spent the last few days getting my accoutn verified but still waiting on some money I deposited to clear.

Looks like the current return rates for swap lending is around 0.12-0.13%... I will test this out with about $100 to see what the whole deal is. But if it works out, I'm looking to deposit around $125,000

My question is, does all your money in your account get used up for lending immediately? Or does the system only use part of your money depending on the demand? Still trying to wrap my head around the whole process.

Thanks for any insight.
Cheers.
-senor

Well done, Bitfinex team.

Hope you will become the most trustworthy exchange in bitcoin community.

That's a great step forward, getting even more professional and all! :-)
Congrats!

Ente

Thanks guys.

Hello everyone,

Thank you for the feature requests, we always evaluate them although we don't add them all unfortunately.

On another note, we are happy to present you the result of our first audit on our BTC reserves: https://bitcointalksearch.org/topic/ann-bitfinex-passes-proof-of-solvency-audit-560457
We would like to perform regularly more such audits, including for our LTC reserves (and why not USD reserves once professional forms jump onto this market).

Have a good day
Raphael
Bitfinex team

This would be the most useful "auto" feature in my opinion.
Price rises dramaticly --> sell, and create buy order automatically
Price corrects shortly after: --> you buy back with profit.

This will create profit for the users, fees for the platform, and dampen the crazy swings a bit more. Everyone wins.

Ente

Can't imagine the situation when I would want to use such feature and neither did I see it implemented anywhere with major stock brokerages. It really sounds like trading "on vacation mode".  Is this the "goal" of such feature?