[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 334.

Faraday

sr. member

Activity: 240

Merit: 250

Quote from: LOADING.READY.RUN on November 18, 2013, 08:28:13 AM

Quote from: Sukrim on November 18, 2013, 08:00:06 AM

Quote from: Spaceman_Spiff on November 18, 2013, 07:17:10 AM

Compared to a bank account, the rates atm are crazy high.

Bitfinex is not a bank, by far! This should be reflected in risk/reward terms.

The loans on BFX are a free market. Encourage more traders to go to BFX to increase the demand for loans, and you'll get higher interest rates Wink

It would help if they actually had USD reserve on bitstamp. They are costing the lenders a ton of interest by letting reserves sit empty for days during the biggest bitcoin rally we've seen yet.

LOADING.READY.RUN

full member

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Quote from: accord01 on November 18, 2013, 11:06:30 AM

Is there a way to set when to liquidate a position? So I don't ahve to keep checking the prices?

That's what the "stop" sell is good for...

However, what I was wondering... I open a (margin) trade, say I buy in at 610 and I hope it's going to 650 and put my limit order there. I want to play it safe and put a stop sell order at 605. However, when now the price dips to 605 first it triggers my stop order and the trade is actually closed. But the limit order at 650 is still active and will open a short position when the price reaches 650.

This isn't what I wanted, as I just used the stop as a security in case things go wrong. Is there a way to somehow relate a stop order and a limit order to each other, so when an open trade hits one of them, the selling amount on both of them is reduced, so that effectively only one or the other gets activated?

Wassupia

member

Activity: 106

Merit: 10

Quote from: Progressive on November 18, 2013, 11:53:17 AM

Quote from: Wassupia on November 18, 2013, 11:42:41 AM

3224735 BTCUSD Market -1.0 -1.0 $0.0000 $561.0000 BFX 4 minutes ago Executed @ 561.0(-1.0)
3224728 BTCUSD Market 1.0 1.0 $0.0000 $588.5000 BSTP 5 minutes ago Executed @ 588.5(1.0)
What is this? The rates should be switched at time of writing? i dont get it.
Edit: now all bitstamp asks are gone. I lost 30 bucks here. Was is my fault?

Another batch of USD arrived to bitstamp and was immediately used to buy bitcoins. Traders at bitfinex are bullish so the price at bitfinex's inner exchange is higher.

you don't get it, I sold at bfx and bought at stamp.

Progressive

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Activity: 181

Merit: 100

Quote from: Wassupia on November 18, 2013, 11:42:41 AM

3224735 BTCUSD Market -1.0 -1.0 $0.0000 $561.0000 BFX 4 minutes ago Executed @ 561.0(-1.0)
3224728 BTCUSD Market 1.0 1.0 $0.0000 $588.5000 BSTP 5 minutes ago Executed @ 588.5(1.0)
What is this? The rates should be switched at time of writing? i dont get it.
Edit: now all bitstamp asks are gone. I lost 30 bucks here. Was is my fault?

Another batch of USD arrived to bitstamp and was immediately used to buy bitcoins. Traders at bitfinex are bullish so the price at bitfinex's inner exchange is higher.

Wassupia

member

Activity: 106

Merit: 10

3224735 BTCUSD Market -1.0 -1.0 $0.0000 $561.0000 BFX 4 minutes ago Executed @ 561.0(-1.0)
3224728 BTCUSD Market 1.0 1.0 $0.0000 $588.5000 BSTP 5 minutes ago Executed @ 588.5(1.0)
What is this? The rates should be switched at time of writing? i dont get it.
Edit: now all bitstamp asks are gone. I lost 30 bucks here. Was is my fault?

jordan.dev

full member

Activity: 151

Merit: 100

Quote from: urwhatuknow on November 18, 2013, 10:56:41 AM

Quote from: Progressive on November 18, 2013, 10:52:29 AM

Website down. This is the planned downtime?

Yes it is, it wont take much to be online again.

Thanks for your understanding

Giancarlo
Bitfinex Team

I can vouch for BFX that this wasn't unplanned and that they are kind of at the mercy of their hosting provider as they kind of "do their own thing" when you request an upgrade - it's hard to get them (or any remote hosting provider) too coordinate a downtime like this perfectly.

Hope al goes well with the upgrade! Keep up the good work.

accord01

full member

Activity: 238

Merit: 100

Is there a way to set when to liquidate a position? So I don't ahve to keep checking the prices?

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Quote from: Progressive on November 18, 2013, 10:52:29 AM

Website down. This is the planned downtime?

Yes it is, it wont take much to be online again.

Thanks for your understanding

Giancarlo
Bitfinex Team

Progressive

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Activity: 181

Merit: 100

Website down. This is the planned downtime?

arbitrage001

legendary

Activity: 1067

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Quote from: accord01 on November 17, 2013, 10:29:35 PM

Right now, bfx price is ~520, btsp at 490... what will happen once bfx has $ on btsp? Will bfx price drop towards btsp price?

Some traders going to get hit pretty bad the moment bitstamp credited bitfinex.

I hope the the auto liquidate function will work as intended so lender won't be affected.

It is actually a good time to short BTC right now if you know when the bitstamp link will be established.

LOADING.READY.RUN

full member

Activity: 133

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Any hint as to whether we can write off today's money transfer arriving at stamp? A bit of certainty in this regard would make trading slightly safer. The spread between BFX and stamp currently is around 50 USD, and it would hit hard if trading on stamp resumed and the BFX price would suddenly fall by say 30-40 USD due to that.

I know typical arrival times on stamp are 8-12 UTC, so can I assume to be "safe" from a reconnect with stamp till tomorrow?

I'm aware that all this is a problem of the conventional bank transfers and don't want to blame it either on stamp or BFX Wink

Spaceman_Spiff

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₪``Campaign Manager´´₪

Quote from: Sukrim on November 18, 2013, 08:00:06 AM

Quote from: Spaceman_Spiff on November 18, 2013, 07:17:10 AM

Compared to a bank account, the rates atm are crazy high.

Bitfinex is not a bank, by far! This should be reflected in risk/reward terms.

Yup, I agree completely.

freespirit

full member

Activity: 183

Merit: 100

Could please anyone who uses Bitfinex tell me how long wire transfer withdrawals take? Are there any delays or are they processed the same day?

EDIT: If anyone interested, I've got a response from Bitfinex's support:

Quote

Wire withdrawal are processed once per business day, so they are sent
within 24 hours. After which it generally take 2 to 5 days to be
received, but can be more depending on the receiving bank.

LOADING.READY.RUN

full member

Activity: 133

Merit: 100

Quote from: Sukrim on November 18, 2013, 08:00:06 AM

Quote from: Spaceman_Spiff on November 18, 2013, 07:17:10 AM

Compared to a bank account, the rates atm are crazy high.

Bitfinex is not a bank, by far! This should be reflected in risk/reward terms.

The loans on BFX are a free market. Encourage more traders to go to BFX to increase the demand for loans, and you'll get higher interest rates Wink

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: Spaceman_Spiff on November 18, 2013, 07:17:10 AM

Compared to a bank account, the rates atm are crazy high.

Bitfinex is not a bank, by far! This should be reflected in risk/reward terms.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: Sukrim on November 18, 2013, 06:33:04 AM

Even holding coins is a trading strategy... Wink

I'm playing a weak (but safer) strategy by holding USD and lending them out - however the returns are MUCH worse than expected and also MUCH worse than through the previous rally. This is not really fun any more and USD lenders (the main reason Bitfinex is popular in the first place) get screwed big time again and again as more and more money shows up and is lent out at laughable rates compared to what traders make on these loans.

I really would like to see an audit promised or done asap by the way...

It's all relative I guess. Compared to a bank account, the rates atm are crazy high. Compared to the rates that you could get last bubble, they are really low now. Compared to just being all-in on bitcoin, lenders are getting chump change.

Sukrim

legendary

Activity: 2618

Merit: 1007

Even holding coins is a trading strategy... Wink

I'm playing a weak (but safer) strategy by holding USD and lending them out - however the returns are MUCH worse than expected and also MUCH worse than through the previous rally. This is not really fun any more and USD lenders (the main reason Bitfinex is popular in the first place) get screwed big time again and again as more and more money shows up and is lent out at laughable rates compared to what traders make on these loans.

I really would like to see an audit promised or done asap by the way...

LOADING.READY.RUN

full member

Activity: 133

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@Sukrim wasn't talking about trading, just holding on to the coins. Of course trading is a different thing entirely, concerning risks as well as potential profits.

Sukrim

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Activity: 2618

Merit: 1007

Depends on your risk profile... as long as you trust Bitfinex and Bitstamp to actually send funds in time, you have much lower risk than trading. I lend on Bitfinex and I get truly shitty returns compared to what the people holding positions with my USD are getting (seriously, I earn more by now with my few coins on Just-Dice converted to fiat than lending a couple grand on Bitfinex). I also blame the page a bit, as profits are displayed in percent per day on the top, but interest is charged as percent per YEAR, so it of course looks like a lot to pay 100% a year. Meanwhile people earn a dozen percent per DAY...

Edit: I would also earn tons more, if I could close my loans and do arbitrage instead. (And by tons I mean 3-4 digit returns in USD instead of low 2 digit returns)

LOADING.READY.RUN

full member

Activity: 133

Merit: 100

Quote from: Sukrim on November 18, 2013, 04:36:24 AM

Arbitrage between Bitfinex and Bitstamp should be REALLY profitable by now! Shocked

Both also pay out quite reasonably fast, so it might be possible to make a few hundred low-risk bucks per week.

In the current bull market it's probably less than you'd make from just staying in BTC... I wouldn't want to be out of BTC for a couple of days at the moment.

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 334. (Read 723990 times)