look at my screenshot... it has to be a glitch.... I have $14 in my trading account, but when i try to transfer it to my exchange account, it says i have 0.
Try clearing browser's cache... then relogin to your account... Or try logging in to the old interface at https://classic.bitfinex.com See if there the funds show up. 
Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 316. (Read 723990 times)
December 04, 2013, 08:42:28 AM
December 04, 2013, 08:35:23 AM
look at my screenshot... it has to be a glitch.... I have $14 in my trading account, but when i try to transfer it to my exchange account, it says i have 0.
December 04, 2013, 08:23:46 AM
@accord1
I've been using their service for a long time, and often, and never have they "stolen" anything. Settlement fees is when you have the account set up so the fees are taken from the USD account, but you have no more USD so the fees are deducted from BTC. Please check agaain, and not only USD tab in history, check BTC tab as well. I'm close to the point of vouching for the integrity of their financial engine.
I've been using their service for a long time, and often, and never have they "stolen" anything. Settlement fees is when you have the account set up so the fees are taken from the USD account, but you have no more USD so the fees are deducted from BTC. Please check agaain, and not only USD tab in history, check BTC tab as well. I'm close to the point of vouching for the integrity of their financial engine.
December 04, 2013, 08:05:40 AM
also i have .1 btc's missing...
Another problem: I had $20 deducted for settlement fees, when i didnt have ANY positions open. Just out of no where it says settlement fee @ 1065 or something, lol.
how am I supposed to use this site right now when money is missing from my account? for all i know, all my balance could dissappear out of no where if this is happening.
Another problem: I had $20 deducted for settlement fees, when i didnt have ANY positions open. Just out of no where it says settlement fee @ 1065 or something, lol.
how am I supposed to use this site right now when money is missing from my account? for all i know, all my balance could dissappear out of no where if this is happening.
December 04, 2013, 07:58:15 AM
What is this? Some kind of a glitch? It just stole like $14 from me.
December 04, 2013, 06:13:26 AM
If I had to guess at it, that's the reason why everyone is
routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
...which are? Tradingview only displays MtGox afaik.routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
I am actually also working on charting sites and so far there are no real Open Source ones that I found and the closed source ones don't really care to invest the work implementing yet another API to get a handful of Bitcoiners who want to trade 200 USD...
What trading/charting software would you like to use and is there an API available to stream data to this software that one can use freely? (e.g. Bloomberg, OpenMAMDA...)
Actually if you type BTC into the "Symbol Box" at TradingView
AFTER bringing up the MtGox chart, it will return a list of all the
BTC pairs / Exchanges including :
BTChina
MtGox
BitStamp
BTC-e
Which can then be saved into the box directly below it creating a menu, or deleted later by the "X" that appears on the right side of line item.
"What trading/charting software would you like to use and is there an API available to stream data to this software that one can use freely? (e.g. Bloomberg, OpenMAMDA...)"
Not sure on that one, but I rather like the way the TradingView charts update in realtime changing colors from red to green on their Bar-Line (OHLC) charts and the host of other features they offer like comparisons and they also even have a "Troll-Box "
December 04, 2013, 05:54:48 AM
Well, it seems obvious that all borrowed funds cost interest. The lender is out of that money and can't lend it to someone else who would be paying in that time. Also, your local bank takes interest, and probably doesn't even know what you do with that cash to begin with?
Two feature requests:
- in the classic frontend we could sort tables for values. For example, sort the "borrowed funds" for "expiration date" or "interest". This isn't possible in the new interface yet..
- I can do a stop like "sell when the rate drops by xy". I would like to do a "buy when the rate drops by xy" too. And enter both "37 USD" and "3.5%" maybe? At the moment I can only do fixed offers like "buy when the rate is 987 USD".
Besides that, I finally used the new GUI for some time now. I got used to it, after the first "hey, everything's looking different" "shock".
And I absolutely love the new "claim" feature! Thank you so much! :-)
Ente
Two feature requests:
- in the classic frontend we could sort tables for values. For example, sort the "borrowed funds" for "expiration date" or "interest". This isn't possible in the new interface yet..
- I can do a stop like "sell when the rate drops by xy". I would like to do a "buy when the rate drops by xy" too. And enter both "37 USD" and "3.5%" maybe? At the moment I can only do fixed offers like "buy when the rate is 987 USD".
Besides that, I finally used the new GUI for some time now. I got used to it, after the first "hey, everything's looking different" "shock".
And I absolutely love the new "claim" feature! Thank you so much! :-)
Ente
December 04, 2013, 05:50:31 AM
If I had to guess at it, that's the reason why everyone is
routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
...which are? Tradingview only displays MtGox afaik.routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
I am actually also working on charting sites and so far there are no real Open Source ones that I found and the closed source ones don't really care to invest the work implementing yet another API to get a handful of Bitcoiners who want to trade 200 USD...
What trading/charting software would you like to use and is there an API available to stream data to this software that one can use freely? (e.g. Bloomberg, OpenMAMDA...)
December 04, 2013, 05:39:29 AM
It doesn't say anything about opening orders, depositing anything besides "EgoPay"... whatever is NOT on there does not have a fee.
Thanks for the false information and no one correcting it. I had unused funds and just got charged $21 out of no where when i logged in. I don't know what it is, but it must be that. I dont have any open positions.
giancarlo or raphael, may i get a refund for being charged a fee for unused borrowed funds? It automatically gets added plus its never stated in the fee schedule, AND i'm told in this thread that i am not charged for it and no one corrected that false statement.
thanks.
Edit:
If you borrow something, you have to pay interest no matter if you trade with it or not, as it is you now to decide what happens with that money. Otherwise lenders would just borrow all money in the market to drive up interest rates.
How would you feel if someone borrows from you, but then does not pay anything because he actually didn't need the money after all?!
December 04, 2013, 03:20:57 AM
It doesn't say anything about opening orders, depositing anything besides "EgoPay"... whatever is NOT on there does not have a fee.
Thanks for the false information and no one correcting it. I had unused funds and just got charged $21 out of no where when i logged in. I don't know what it is, but it must be that. I dont have any open positions.
giancarlo or raphael, may i get a refund for being charged a fee for unused borrowed funds? It automatically gets added plus its never stated in the fee schedule, AND i'm told in this thread that i am not charged for it and no one corrected that false statement.
thanks.
December 04, 2013, 02:42:10 AM
The problem that I'm finding is locating a good "Trading Chart"
for Bitfinex, the chart located at:
http://bitcoinwisdom.com/markets/bitfinex/btcusd
Leaves a lot to be desired when compared to the charts at:
https://www.tradingview.com/
If I had to guess at it, that's the reason why everyone is
routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
It's useless trying to trade without a good chart, tried
trading Bitfinex yesterday with a BitStamp chart and that
was scary.
Wow,
Sent another USD Wire Transfer to Bitfinex
from Mexico, practically received in my account
in 12-Hours !
for Bitfinex, the chart located at:
http://bitcoinwisdom.com/markets/bitfinex/btcusd
Leaves a lot to be desired when compared to the charts at:
https://www.tradingview.com/
If I had to guess at it, that's the reason why everyone is
routing their orders to BitStamp, just to be able to use
the good BitStamp charts that are available to trade on.
It's useless trying to trade without a good chart, tried
trading Bitfinex yesterday with a BitStamp chart and that
was scary.
Wow,
Sent another USD Wire Transfer to Bitfinex
from Mexico, practically received in my account
in 12-Hours !
December 03, 2013, 09:20:45 PM
They should use compounding. It is common practice to do so and misleading not to. I didn't realize this until just now, and I've been lending for 10 months (I didn't do the calculations because my interest rates were often very different - only more recently have I been loaning out 100% at the flash rate)!
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
I honestly don't see the issue here. For the borrower, it shows the percentage per day in the margin trade tab. For the lender, in the lending tab it shows you how many percent you get if the loan you issue stays in place for a year. I see nobody being misled here. There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
Your interest payments are not automatically re-incorporated into the loan, nobody can promise you that you will get the same rate for them. Whether you do autolend or buy BTC with the interest depends on your own choice.
Sure, APR is calculated differently for your bank account, but it's a different kind of product, where the funds automatically get reinvested (and the bank guarantees a certain return).
Dude, do you need a job?
Giancarlo
Bitfinex Team
Lol
, thanks but no thanks, I just got a new one (unless you are offering me mad cash of course 
). December 03, 2013, 08:09:04 PM
I'd at least explain how interest is calculated in the FAQ. It currently isn't explained.
Can you name a mainstream business that doesn't use APR for loans? It's the kind of thing loan sharks do to hide the real cost of the loans (eg. Pay Day loans, mafia, ponzi schemes) - unless they are banned for it by law. There is a reason for laws that force you to display the APR.
"nobody can promise you that you will get the same rate for them"
I agree. However this means that the 365 day rate also makes no sense. With this logic, the only thing that makes sense is the one-day rate.
http://en.wikipedia.org/wiki/Annual_percentage_rate
Can you name a mainstream business that doesn't use APR for loans? It's the kind of thing loan sharks do to hide the real cost of the loans (eg. Pay Day loans, mafia, ponzi schemes) - unless they are banned for it by law. There is a reason for laws that force you to display the APR.
"nobody can promise you that you will get the same rate for them"
I agree. However this means that the 365 day rate also makes no sense. With this logic, the only thing that makes sense is the one-day rate.
http://en.wikipedia.org/wiki/Annual_percentage_rate
December 03, 2013, 08:03:48 PM
They should use compounding. It is common practice to do so and misleading not to. I didn't realize this until just now, and I've been lending for 10 months (I didn't do the calculations because my interest rates were often very different - only more recently have I been loaning out 100% at the flash rate)!
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
I honestly don't see the issue here. For the borrower, it shows the percentage per day in the margin trade tab. For the lender, in the lending tab it shows you how many percent you get if the loan you issue stays in place for a year. I see nobody being misled here. There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
Your interest payments are not automatically re-incorporated into the loan, nobody can promise you that you will get the same rate for them. Whether you do autolend or buy BTC with the interest depends on your own choice.
Sure, APR is calculated differently for your bank account, but it's a different kind of product, where the funds automatically get reinvested (and the bank guarantees a certain return).
Dude, do you need a job?
Giancarlo
Bitfinex Team
haha that is a good idea, i like Spaceman_Spiffs posts very much!
December 03, 2013, 07:51:28 PM
They should use compounding. It is common practice to do so and misleading not to. I didn't realize this until just now, and I've been lending for 10 months (I didn't do the calculations because my interest rates were often very different - only more recently have I been loaning out 100% at the flash rate)!
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
I honestly don't see the issue here. For the borrower, it shows the percentage per day in the margin trade tab. For the lender, in the lending tab it shows you how many percent you get if the loan you issue stays in place for a year. I see nobody being misled here. There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
Your interest payments are not automatically re-incorporated into the loan, nobody can promise you that you will get the same rate for them. Whether you do autolend or buy BTC with the interest depends on your own choice.
Sure, APR is calculated differently for your bank account, but it's a different kind of product, where the funds automatically get reinvested (and the bank guarantees a certain return).
Dude, do you need a job?
Giancarlo
Bitfinex Team
December 03, 2013, 06:24:08 PM
They should use compounding. It is common practice to do so and misleading not to. I didn't realize this until just now, and I've been lending for 10 months (I didn't do the calculations because my interest rates were often very different - only more recently have I been loaning out 100% at the flash rate)!
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
I honestly don't see the issue here. For the borrower, it shows the percentage per day in the margin trade tab. For the lender, in the lending tab it shows you how many percent you get if the loan you issue stays in place for a year. I see nobody being misled here. There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
Your interest payments are not automatically re-incorporated into the loan, nobody can promise you that you will get the same rate for them. Whether you do autolend or buy BTC with the interest depends on your own choice.
Sure, APR is calculated differently for your bank account, but it's a different kind of product, where the funds automatically get reinvested (and the bank guarantees a certain return).
December 03, 2013, 05:03:29 PM
They should use compounding. It is common practice to do so and misleading not to. I didn't realize this until just now, and I've been lending for 10 months (I didn't do the calculations because my interest rates were often very different - only more recently have I been loaning out 100% at the flash rate)!
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
There is no such thing as "Rate (% per 365 days)". This is a term that BFX has invented with an unclear definition and may be another English language mistake (recall the earlier site slogan which made absolutely zero sense in English). If they wanted to give a rate for the day, they should call it per day - not per year (and list the APR in parentheses so that you can see both)! I strongly recommend showing the APR!
The commonly used term is APR and there is an accepted way to calculate it.
I could possibly see that compounding wouldn't make as much sense for borrowers who are doing short-term loans, but it sure makes a lot of sense for the lenders - especially with auto-lend. And it looks like many of the borrowers are doing fairly long-term loans.
December 03, 2013, 02:33:18 PM
Are they compounding the interest or not?
The fact that they give an APR (interest for 365 days) makes me think that they should be using compounding. This is standard practice in the loan and banking sectors. Thus your daily interest rate should not be the annual rate divided by the number of days. It should be lower.
For example, if you are earning $25 interest on $10,000 that is 0.0025 rate of interest per day.
With compounding interest (and reinvestment), at the end of one year you will have
1.0025^365 = 2.4877
Which is an APR of 148.77%.
Whereas (without compounding) 0.0025*365= 91.25%.
This example excludes the 10% commission to make things simpler and to focus on the difference between using compounded and non-compounded interest.
They are not compounding the interest for the APR. Relending your interest payments is your own choice. The fact that they give an APR (interest for 365 days) makes me think that they should be using compounding. This is standard practice in the loan and banking sectors. Thus your daily interest rate should not be the annual rate divided by the number of days. It should be lower.
For example, if you are earning $25 interest on $10,000 that is 0.0025 rate of interest per day.
With compounding interest (and reinvestment), at the end of one year you will have
1.0025^365 = 2.4877
Which is an APR of 148.77%.
Whereas (without compounding) 0.0025*365= 91.25%.
This example excludes the 10% commission to make things simpler and to focus on the difference between using compounded and non-compounded interest.
December 03, 2013, 02:29:36 PM
Are they compounding the interest or not?
The fact that they give an APR (interest for 365 days) makes me think that they should be using compounding. This is standard practice in the loan and banking sectors. Thus your daily interest rate should not be the annual rate divided by the number of days. It should be lower.
For example, if you are earning $25 interest on $10,000 that is 0.0025 rate of interest per day.
With compounding interest (and reinvestment), at the end of one year you will have
1.0025^365 = 2.4877
Which is an APR of 148.77%.
Whereas (without compounding) 0.0025*365= 91.25%.
This example excludes the 10% commission to make things simpler and to focus on the difference between using compounded and non-compounded interest.
The fact that they give an APR (interest for 365 days) makes me think that they should be using compounding. This is standard practice in the loan and banking sectors. Thus your daily interest rate should not be the annual rate divided by the number of days. It should be lower.
For example, if you are earning $25 interest on $10,000 that is 0.0025 rate of interest per day.
With compounding interest (and reinvestment), at the end of one year you will have
1.0025^365 = 2.4877
Which is an APR of 148.77%.
Whereas (without compounding) 0.0025*365= 91.25%.
This example excludes the 10% commission to make things simpler and to focus on the difference between using compounded and non-compounded interest.
December 03, 2013, 04:55:59 AM
It doesn't say anything about opening orders, depositing anything besides "EgoPay"... whatever is NOT on there does not have a fee.
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