Ok guys, I know there's money on the line for all trading here, but that does not mean we should lose our temper whenever something goes the other way we want it.
Giancarlo, looks like you are human after all. I'm certain oda.krell is using limit orders from time to time; he was just expressing a little frustration mostly because I believe he expects a lot from you guys. And that is a good thing.
oda.krell ... I know how you feel, because you are not the only one having money there and wanting to go long in certain spots and seeing such a gap. But I try to be as supportive as I can of these guys, because as young as this business is, it needs a little time to get to the point we would want it.
I still believe Bitfinex to be the best exchange service at the moment, even if it not perfect. There will always be room for improvements, and as long as Bitfinex is willing to do it, people who realize this will stick around.
Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 338. (Read 723990 times)
November 12, 2013, 02:16:17 AM
November 12, 2013, 02:13:47 AM
well people are jerks and i am a person, so there you go. given the volume and confusion in the threads, it is very time consuming to extract relevant data, and time is precious when you are almost dead, i'd rather make a fool of myself than lose another hour. sorry to have tested your patience. just remember: that which does not kill us makes us stronger.
November 12, 2013, 12:21:55 AM
The thing with depositing 0.12 BTC and being credited something else is not the issue that a few fractions of a cent are missing - it's that apparently there must be either a rounding error or something else going wrong somewhere.
i see that a lot at bfx. always in their favor, which probably influences the priority of fixing the bug. the accounting would be intolerable if there were competition, but bfx is head and shoulders above everyone else in terms of trading function and customer relations. i just wish it had more credibilty so that i could place more funds there.
There is no bug, there was no rounding.
If you just read Raphael's reply you would know that it was actually "remember remember"'s mistake not to check his history before writing his post.
He actually borrowed some funds and he was charged interests because of it.
I strongly encourage you to read the posts Raphael and me wrote in the past about the various questions you pose, which have been already answered "ad nauseam".
But I'll try to do it once more:
1) We send money to Bitstamp (lots of it) every day.
2) Money is used almost immediately to buy bitcoins.
3) Our account there gets dry and we send money (lots of it) again.
So the ETA is every day: today, tomorrow, the day after tomorrow, the day after the day after tomorrow........
Oda.krell: You want to buy at a price and avoid slippage when you can only buy on BFX? Ever heard of limit orders?
Sorry for being a little rude guys, but there is a limit to what a man can take.
I believe next time you should think twice (or read) before writing, at least this will avoid making a fool out of yourself.
Have a good day
Giancarlo
Bitfinex Team
November 11, 2013, 11:58:14 PM
The thing with depositing 0.12 BTC and being credited something else is not the issue that a few fractions of a cent are missing - it's that apparently there must be either a rounding error or something else going wrong somewhere.
i see that a lot at bfx. always in their favor, which probably influences the priority of fixing the bug. the accounting would be intolerable if there were competition, but bfx is head and shoulders above everyone else in terms of trading function and customer relations. i just wish it had more credibilty so that i could place more funds there.
November 11, 2013, 11:35:05 PM
no asks from bitstamp are visible on bfx. it would be nice to know when usd will again be on deposit.
actually, i am intrigued that bitstamp bids are still routed. that means there is btc at bitstamp. which means that bfx has funding on account at bitstamp. they are merely unwilling to sell any of their btc.
actually, i am intrigued that bitstamp bids are still routed. that means there is btc at bitstamp. which means that bfx has funding on account at bitstamp. they are merely unwilling to sell any of their btc.
November 11, 2013, 02:23:18 PM
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Hm, it's 4:1 again and people are putting up demands for loans around 200%... that's about back to where it was before the reduction in leverage, right?
Well, the lack of fiat reserve on stamp of course is unsatisfactory...
I would consider about 200%, 250% to be appropriate at the moment, given the risks and the chance for profit. But my total amount of fiat wasn't taken at that rate atm, and I suspect it's largely because you cannot margin trade if there's not fiat to execute your orders
I would say it is up to the market to decide whatever rate is appropriate (which depends on circumstances of course, both supply, demand and the bitfinex system/rules). You can't just claim that a certain percentage is "appropriate" and demand that you get that much for your lending. Hell, if that is the case, then give me 9999% apr please.
You're missing the point, or didn't read my post. My argument went:
I consider X% interest rate appropriate. It's not taken completely at that rate. Okay, I'll buy myself then. Only, I cannot.
tl;dr I'm not complaining that I'm not getting enough interest, I'm complaining that, because of a lack of fiat on Bitstamp, both lending rates are dampened *and* I can't buy myself.
its already routing again...
November 11, 2013, 02:06:01 PM
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Hm, it's 4:1 again and people are putting up demands for loans around 200%... that's about back to where it was before the reduction in leverage, right?
Well, the lack of fiat reserve on stamp of course is unsatisfactory...
I would consider about 200%, 250% to be appropriate at the moment, given the risks and the chance for profit. But my total amount of fiat wasn't taken at that rate atm, and I suspect it's largely because you cannot margin trade if there's not fiat to execute your orders
I would say it is up to the market to decide whatever rate is appropriate (which depends on circumstances of course, both supply, demand and the bitfinex system/rules). You can't just claim that a certain percentage is "appropriate" and demand that you get that much for your lending. Hell, if that is the case, then give me 9999% apr please.
You're missing the point, or didn't read my post. My argument went:
I consider X% interest rate appropriate. It's not taken completely at that rate. Okay, I'll buy myself then. Only, I cannot.
tl;dr I'm not complaining that I'm not getting enough interest, I'm complaining that, because of a lack of fiat on Bitstamp, both lending rates are dampened *and* I can't buy myself.
November 11, 2013, 02:00:45 PM
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Hm, it's 4:1 again and people are putting up demands for loans around 200%... that's about back to where it was before the reduction in leverage, right?
Well, the lack of fiat reserve on stamp of course is unsatisfactory...
I would consider about 200%, 250% to be appropriate at the moment, given the risks and the chance for profit. But my total amount of fiat wasn't taken at that rate atm, and I suspect it's largely because you cannot margin trade if there's not fiat to execute your orders
I would say it is up to the market to decide whatever rate is appropriate (which depends on circumstances of course, both supply, demand and the bitfinex system/rules). You can't just claim that a certain percentage is "appropriate" and demand that you get that much for your lending. Hell, if that is the case, then give me 9999% apr please.
November 11, 2013, 12:42:06 PM
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Hm, it's 4:1 again and people are putting up demands for loans around 200%... that's about back to where it was before the reduction in leverage, right?
Well, the lack of fiat reserve on stamp of course is unsatisfactory...
I would consider about 200%, 250% to be appropriate at the moment, given the risks and the chance for profit. But my total amount of fiat wasn't taken at that rate atm, and I suspect it's largely because you cannot margin trade if there's not fiat to execute your orders
November 11, 2013, 12:34:49 PM
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Hm, it's 4:1 again and people are putting up demands for loans around 200%... that's about back to where it was before the reduction in leverage, right?
Well, the lack of fiat reserve on stamp of course is unsatisfactory...
November 11, 2013, 12:14:46 PM
Okay. I'm starting to get a bit annoyed here...
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Okay, I thought, maybe I'll buy coins myself then.
Nope. No funds at all on stamp again, and executing my order on bfx would incur pretty hefty slippage. I'm not *that* desperate.
So, instead, my money is just sitting there, doing nothing.
That's really not a situation you want to go on for too long on your exchange :/
EDIT: Also, y u no have stop limit orders?
Nobody's taking all of my fiat for a reasonable interest rate, because, well, how to do leveraged trading if there's not even enough money on stamp for non-leveraged buying.
Okay, I thought, maybe I'll buy coins myself then.
Nope. No funds at all on stamp again, and executing my order on bfx would incur pretty hefty slippage. I'm not *that* desperate.
So, instead, my money is just sitting there, doing nothing.
That's really not a situation you want to go on for too long on your exchange :/
EDIT: Also, y u no have stop limit orders?
November 11, 2013, 12:09:06 PM
Second on the "pop up notice or email" to communicate the change, thanks.
+1, I check this thread regularly, but I think popup and email notice would be nice as default settings. And people who don't want emails or popups should be able to choose that in the account settings menu. November 11, 2013, 11:33:14 AM
me before the change, please. Two weeks sounds about right, seeing as how quick bitcoin-time runs.
Some of those changes mean real money for some of us, you know. And many users don't check in here daily neither..
Two weeks would be ridiculously long in bitcoin world. 2 weeks before the reduction of leverage we were still consolidating around 210. I think it was all about the very recent runup to almost 400 which usually screams out for a bigger correction. Good thing was that open longs weren't touched at all, so the possible harm was quite limited.Some of those changes mean real money for some of us, you know. And many users don't check in here daily neither..
November 11, 2013, 10:18:37 AM
Any ETA on USD deposits at bitstamp?
November 11, 2013, 10:17:47 AM
Second on the "pop up notice or email" to communicate the change, thanks.
November 11, 2013, 09:45:46 AM
Honestly, I was a little bit miffed in the beginning when seeing the leverage reduction to 2:1. But after reading about the reasons, it makes a lot of sense yo me.
I think Bitfinex has built up a good reputation in the BTC community, and that's the most important thing to keep. If too many trades get busted in turbulent times, or even worse, lenders lose their money, it's bad for all of us trading on Bitfinex: trust in lending and the overall money available for loans goes down, average interest rate goes up to make up for the higher risk. And in the end, although it may seem unlikely, all this can cost Bitfinex a lot of money, because in high-volume turbulent periods the trading engines of the big exchanges can lag real hard.
The only minor complaint that remains is the change on very short notice. I for one realized it only because an open long that was well in the profit suddenly showed negative values for tradable balance. Please make the decision process a bit more transparent in future.
Anyway, please keep up the high-quality service. Bitfinex is my favourite BTC trading platform, and it seems like you're doing a good job to keep it this way.
I think Bitfinex has built up a good reputation in the BTC community, and that's the most important thing to keep. If too many trades get busted in turbulent times, or even worse, lenders lose their money, it's bad for all of us trading on Bitfinex: trust in lending and the overall money available for loans goes down, average interest rate goes up to make up for the higher risk. And in the end, although it may seem unlikely, all this can cost Bitfinex a lot of money, because in high-volume turbulent periods the trading engines of the big exchanges can lag real hard.
The only minor complaint that remains is the change on very short notice. I for one realized it only because an open long that was well in the profit suddenly showed negative values for tradable balance. Please make the decision process a bit more transparent in future.
Anyway, please keep up the high-quality service. Bitfinex is my favourite BTC trading platform, and it seems like you're doing a good job to keep it this way.
I agree on that.
The only negative point I could ever come up with, is the communication of changes to users.
It was similar with back then, when MtGox was removed from the engine, there wasn't much "official" communication.
I would like:
- an email goes out to all users, explaining the changes in one, two sentences. More details linked to a thread or something
- a popup, once, for all users who log in
Both of this a reasonable time before the change, please. Two weeks sounds about right, seeing as how quick bitcoin-time runs.
Some of those changes mean real money for some of us, you know. And many users don't check in here daily neither..
Besides that: I encourage everyone I talk to to use bitfinex, as an online exchange.
Where's the affiliate program? ;-)
Ente
November 11, 2013, 09:15:07 AM
Honestly, I was a little bit miffed in the beginning when seeing the leverage reduction to 2:1. But after reading about the reasons, it makes a lot of sense yo me.
I think Bitfinex has built up a good reputation in the BTC community, and that's the most important thing to keep. If too many trades get busted in turbulent times, or even worse, lenders lose their money, it's bad for all of us trading on Bitfinex: trust in lending and the overall money available for loans goes down, average interest rate goes up to make up for the higher risk. And in the end, although it may seem unlikely, all this can cost Bitfinex a lot of money, because in high-volume turbulent periods the trading engines of the big exchanges can lag real hard.
The only minor complaint that remains is the change on very short notice. I for one realized it only because an open long that was well in the profit suddenly showed negative values for tradable balance. Please make the decision process a bit more transparent in future.
Anyway, please keep up the high-quality service. Bitfinex is my favourite BTC trading platform, and it seems like you're doing a good job to keep it this way.
I think Bitfinex has built up a good reputation in the BTC community, and that's the most important thing to keep. If too many trades get busted in turbulent times, or even worse, lenders lose their money, it's bad for all of us trading on Bitfinex: trust in lending and the overall money available for loans goes down, average interest rate goes up to make up for the higher risk. And in the end, although it may seem unlikely, all this can cost Bitfinex a lot of money, because in high-volume turbulent periods the trading engines of the big exchanges can lag real hard.
The only minor complaint that remains is the change on very short notice. I for one realized it only because an open long that was well in the profit suddenly showed negative values for tradable balance. Please make the decision process a bit more transparent in future.
Anyway, please keep up the high-quality service. Bitfinex is my favourite BTC trading platform, and it seems like you're doing a good job to keep it this way.
November 11, 2013, 06:17:16 AM
4:1 shows 0.0% (0.0:1) required margin, I hope that's just a display error... 
Edit: 15% margin equals not 15:1 leverage but 1/0.15 : 1 (6.666...:1) and 25% means 1/0.25 :1 = 4:1, not 25:1
Edit: 15% margin equals not 15:1 leverage but 1/0.15 : 1 (6.666...:1) and 25% means 1/0.25 :1 = 4:1, not 25:1
November 11, 2013, 05:54:49 AM
Hey everyone,
So we will reintroduce back the previous leverage options, with new margin requirements.
You will find the options in the "User settings" tab, within the next few hours. Please be aware of the new margin requirement linked to each leverage option, as this will impact the margin call level.
The margin requirements can change with the market conditions.
Let me know if you have any more questions
Raphael
Bitfinex team
So we will reintroduce back the previous leverage options, with new margin requirements.
You will find the options in the "User settings" tab, within the next few hours. Please be aware of the new margin requirement linked to each leverage option, as this will impact the margin call level.
The margin requirements can change with the market conditions.
Let me know if you have any more questions
Raphael
Bitfinex team
November 11, 2013, 03:53:50 AM
This site isnt here to only serve the borrowers...
At the moment everything is in favor of the borrowers, if there would be a change to even lower lendig times the APR would go down even more.
also, it really sucks that you have to constantly watch the rates or you lend with autolend at completely wrong rates (either too high or too low). Thats why i want a minimum lending period, like 12 hours..
At the moment everything is in favor of the borrowers, if there would be a change to even lower lendig times the APR would go down even more.
also, it really sucks that you have to constantly watch the rates or you lend with autolend at completely wrong rates (either too high or too low). Thats why i want a minimum lending period, like 12 hours..
No I don't think this is true. We turned down offer of "unlimited" lending of dollars "to slash down the rate to a reasonable 5%". Because we do care
(Traders, plus don't hate us for this
)Raphael
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