[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 291.

TalkingBit

newbie

Activity: 42

Merit: 0

Quote from: nmersulypnem on January 09, 2014, 01:14:41 PM

Can someone explain how the flash return rate works on lending?

1. If I buy on margin, does my margin get taken at the lowest offer, or from the "flash rate" offer?

2. If all funds at the flash rate get exhausted do margin buys execute automatically at the next higher rates, or does the "flash rate" increase to the next highest offer (regardless of expiry).

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

x2

Also, what happened to autorelend button? Is it coming back?

nmersulypnem

full member

Activity: 238

Merit: 100

Can someone explain how the flash return rate works on lending?

1. If I buy on margin, does my margin get taken at the lowest offer, or from the "flash rate" offer?

2. If all funds at the flash rate get exhausted do margin buys execute automatically at the next higher rates, or does the "flash rate" increase to the next highest offer (regardless of expiry).

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

EABEAB

newbie

Activity: 34

Merit: 0

Quote from: arbitrage001 on January 09, 2014, 02:55:10 AM

Quote from: ?? on ??

Overall, I find this fee raise a total scandal and I am immediately switching over to an exchange with lower fees and the same great set of of features and supperb service since that's easy to find... in a dream or something.

It is better to pay a slightly higher fee to a trusted exchange and not have to worry about the owner run away with your money than use an exchange with lower fee and have to constantly worry about getting scammed.

Beside, I do not think there is any exchange out there with this level of service out there with lower fee. If you come across an exchange with the same level of caliber, please kindly inform us so we can use it too.

He was kidding, he was not being serious, did you not see his last words, "in a dream or something".

We all know that BitFinex is the BEST, now if everyone else will just come to that realization !, some day maybe.

Sukrim

legendary

Activity: 2618

Merit: 1007

Well, then the optimal strategy would be to only lend for 1 day each and then extend as long as you are above FRR. Still borrowers might again prefer longer term stability (which is why I lend out my funds for nearly always 30 days, except in cases where the rate is really low) and still look for longer loans...

nmersulypnem

full member

Activity: 238

Merit: 100

Quote from: Ente on January 09, 2014, 12:43:42 PM

Quote from: Sukrim on January 09, 2014, 12:31:57 PM

Quote from: nmersulypnem on January 09, 2014, 12:07:44 PM

Quote from: superbit on January 09, 2014, 11:35:32 AM

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days. Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

Great idea! Win-win!

Ente

It's actually win-win-win because it increases liquidity in the market overall.

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: Sukrim on January 09, 2014, 12:31:57 PM

Quote from: nmersulypnem on January 09, 2014, 12:07:44 PM

Quote from: superbit on January 09, 2014, 11:35:32 AM

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days. Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

Great idea! Win-win!

Ente

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: nmersulypnem on January 09, 2014, 12:07:44 PM

Quote from: superbit on January 09, 2014, 11:35:32 AM

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days. Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

nmersulypnem

full member

Activity: 238

Merit: 100

Quote from: superbit on January 09, 2014, 11:35:32 AM

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days. Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

superbit

hero member

Activity: 763

Merit: 500

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days. Should this not be changed too?

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: Timetwister on January 09, 2014, 05:15:35 AM

Quote from: Sukrim on January 09, 2014, 05:04:34 AM

With Bitfinex you can even profit from falling prices leveraged

Don't you need to take BTC in that case, to short them, instead of USD? Isn't taking USD for buying bitcoins (going long)?

Yes.

Interest-rate can be used as a (noisy) indication of market sentiment. High USD interest rates indicate high demand (and/or low supply) of USD, so can be taken as a bullish sign. Conversely high BTC interest rates can be taken as a bearish sign.

Timetwister

legendary

Activity: 1199

Merit: 1047

Quote from: Sukrim on January 09, 2014, 05:04:34 AM

With Bitfinex you can even profit from falling prices leveraged

Don't you need to take BTC in that case, to short them, instead of USD? Isn't taking USD for buying bitcoins (going long)?

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: Timetwister on January 09, 2014, 05:00:47 AM

Quote from: TwinWinNerD on January 08, 2014, 04:46:45 PM

Quote from: Timetwister on January 08, 2014, 04:19:43 PM

Is this correct? Is people really paying 0.35% daily for USD?

Short answer: Temporarly, yes.

And why is people paying so much interest? It's absurd.

Because the money you gain from trading is much more absurdely high. With Bitfinex you can even profit from falling prices leveraged and daily changes alone are MUCH larger than on some (most?) other assets out there.

It's not even that much, I lend out money at even higher rates right now.

Timetwister

legendary

Activity: 1199

Merit: 1047

Quote from: TwinWinNerD on January 08, 2014, 04:46:45 PM

Quote from: Timetwister on January 08, 2014, 04:19:43 PM

Is this correct? Is people really paying 0.35% daily for USD?

Short answer: Temporarly, yes.

And why is people paying so much interest? It's absurd.

Ente

legendary

Activity: 2126

Merit: 1001

Same here,

Quote

Secure Connection Failed
An error occurred during a connection to www.bitfinex.com.
The OCSP server has no status for the certificate.
(Error code: sec_error_ocsp_unknown_cert)

+1 on fees calculated from USD volume instead of BTC volume.
And, I can't check because of the connection problems: Is there a place to check the last 30 days volume?

I find the fees themselves reasonable.

Ente

arbitrage001

legendary

Activity: 1067

Merit: 1000

Quote from: ?? on ??

Overall, I find this fee raise a total scandal and I am immediately switching over to an exchange with lower fees and the same great set of of features and supperb service since that's easy to find... in a dream or something.

It is better to pay a slightly higher fee to a trusted exchange and not have to worry about the owner run away with your money than use an exchange with lower fee and have to constantly worry about getting scammed.

Beside, I do not think there is any exchange out there with this level of service out there with lower fee. If you come across an exchange with the same level of caliber, please kindly inform us so we can use it too.

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: Timetwister on January 08, 2014, 04:19:43 PM

Is this correct? Is people really paying 0.35% daily for USD?

Short answer: Temporarly, yes.

Timetwister

legendary

Activity: 1199

Merit: 1047

Is this correct? Is people really paying 0.35% daily for USD?

superbit

hero member

Activity: 763

Merit: 500

Quote from: Sukrim on January 08, 2014, 12:47:03 PM

Here as well, let's hope that's part of adding even more power to the system!

Same

Edit: Back up for me

Sukrim

legendary

Activity: 2618

Merit: 1007

Here as well, let's hope that's part of adding even more power to the system!

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

I am getting:

'Secure Connection Failed

An error occurred during a connection to www.bitfinex.com. The OCSP server has no status for the certificate. (Error code: sec_error_ocsp_unknown_cert)'

EDIT: up again

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 291. (Read 723903 times)