[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 77.

ejinte

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Quote from: RappelzReborn on June 18, 2015, 12:05:03 PM

People with experience around here with Bitfinex , could you tell me what is this difference between Bitfinex & BTCJam exactly ? Last days I was asking about BTCJam and let's say I didn't hear pretty good things about it , one of them that if you get scammed .. you get scammed and there is nothing you can do about it . so not sure why they people for ID if they can't refund you eventually Undecided

At bitfinex you can trade using margin. See this article at investopedia:
http://www.investopedia.com/university/margin/

Sukrim

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Maybe more new people go long than existing position holders liquidating?

"Stop loss" is another word for "realize loss"...

BitBits

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Hi everyone, any old-timers still around?
I've been away for about 7 months... I see we are still having way too much of USD swaps borrowed (close to 30 mln). This is not good for the uptrend expectations (current ratio of margin longs vs. shorts is about 6 to 1). Now that I looked at the market closer for the past few day, it really strikes me that borrowed USD swaps are pretty much always spiking up (people are going long on margin) exactly when the price is crashing down. This is the opposite of what should be happening (that is, margin longs should be selling to stop losses).

SebastianJu

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Quote from: dscotese on June 18, 2015, 01:02:49 PM

Quote from: RappelzReborn on June 18, 2015, 12:05:03 PM

People with experience around here with Bitfinex , could you tell me what is this difference between Bitfinex & BTCJam exactly ? Last days I was asking about BTCJam and let's say I didn't hear pretty good things about it , one of them that if you get scammed .. you get scammed and there is nothing you can do about it . so not sure why they people for ID if they can't refund you eventually Undecided

BTCJam lets you give your bitcoin to someone you don't know and you lose if they don't pay you back (with interest).
BitFinex holds your bitcoin and allows people you don't know ("swap takers") to borrow it in order to sell it, but only if those swap takers already have some bitcoin to pay for any loss they incur.
On BTCJam, you're trusting an unknown person. On BitFinex, you're trusting BitFinex.

BTCJam doesn't offer any other service (except that you can be the one borrowing bitcoin instead of lending it). BitFinex also offers exchange trading (turn your dollars into BTC or yout BTC into dollars - but to move dollars into or our of the service, you need to set up a financial connection) and margin trading (where your deposits are used as collateral to pay for losses you incur).

The biggest difference is that the funds they borrow cant be taken out of bitfinex since they only can be used to trade with them. So the risk is rather small. I heard with a good risk management that its possible to be relatively secure on btcjam too but trusting bitfinex might be easier.

RappelzReborn

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Quote from: dscotese on June 18, 2015, 01:02:49 PM

Quote from: RappelzReborn on June 18, 2015, 12:05:03 PM

People with experience around here with Bitfinex , could you tell me what is this difference between Bitfinex & BTCJam exactly ? Last days I was asking about BTCJam and let's say I didn't hear pretty good things about it , one of them that if you get scammed .. you get scammed and there is nothing you can do about it . so not sure why they people for ID if they can't refund you eventually Undecided

BTCJam lets you give your bitcoin to someone you don't know and you lose if they don't pay you back (with interest).
BitFinex holds your bitcoin and allows people you don't know ("swap takers") to borrow it in order to sell it, but only if those swap takers already have some bitcoin to pay for any loss they incur.
On BTCJam, you're trusting an unknown person. On BitFinex, you're trusting BitFinex.

BTCJam doesn't offer any other service (except that you can be the one borrowing bitcoin instead of lending it). BitFinex also offers exchange trading (turn your dollars into BTC or yout BTC into dollars - but to move dollars into or our of the service, you need to set up a financial connection) and margin trading (where your deposits are used as collateral to pay for losses you incur).

"if those swap takers already have some bitcoin to pay for any loss they incur." Didn't understand that part to be honest , do they have to give some collateral or something ?
Also does that mean that I can borrow in Bitfinex and be 100% sure that I will get my money back ?? that would be awesome .

dscotese

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I prefer evolution to revolution.

Quote from: RappelzReborn on June 18, 2015, 12:05:03 PM

People with experience around here with Bitfinex , could you tell me what is this difference between Bitfinex & BTCJam exactly ? Last days I was asking about BTCJam and let's say I didn't hear pretty good things about it , one of them that if you get scammed .. you get scammed and there is nothing you can do about it . so not sure why they people for ID if they can't refund you eventually Undecided

BTCJam lets you give your bitcoin to someone you don't know and you lose if they don't pay you back (with interest).
BitFinex holds your bitcoin and allows people you don't know ("swap takers") to borrow it in order to sell it, but only if those swap takers already have some bitcoin to pay for any loss they incur.
On BTCJam, you're trusting an unknown person. On BitFinex, you're trusting BitFinex.

BTCJam doesn't offer any other service (except that you can be the one borrowing bitcoin instead of lending it). BitFinex also offers exchange trading (turn your dollars into BTC or yout BTC into dollars - but to move dollars into or our of the service, you need to set up a financial connection) and margin trading (where your deposits are used as collateral to pay for losses you incur).

RappelzReborn

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People with experience around here with Bitfinex , could you tell me what is this difference between Bitfinex & BTCJam exactly ? Last days I was asking about BTCJam and let's say I didn't hear pretty good things about it , one of them that if you get scammed .. you get scammed and there is nothing you can do about it . so not sure why they people for ID if they can't refund you eventually Undecided

pinky

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Quote from: Hunyadi on June 18, 2015, 05:23:17 AM

Yep, normally BTC withdrawals are almost instant, but now they'll take awhile. I have now another withdrawal, and it seems it'll take some time also...

Maybe since the hack happened they have smaller amounts in their hot wallet.

Hunyadi

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Yep, normally BTC withdrawals are almost instant, but now they'll take awhile. I have now another withdrawal, and it seems it'll take some time also...

bricky

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Quote from: Hunyadi on June 18, 2015, 03:01:10 AM

Quote from: ejinte on June 17, 2015, 08:09:04 PM

Quote from: WINNIE_POOL on June 17, 2015, 07:15:44 PM

withdraw 18 BTC to my wallet pending > 30 minutes Sad

How long time to process it?

Last time, it still 1 minute

Usually it's included in the next block. You got it already, don't you?

Their hot wallet might be empty. I have waited over 1 hour already... Undecided

LTC withdrawals have been taking 4-6 hours for the last 2 days (where they were previously instant).

It *could* be a hot wallet issue I guess, but I doubt they'd leave the hot wallet empty for so long.

Hunyadi

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Quote from: ejinte on June 17, 2015, 08:09:04 PM

Quote from: WINNIE_POOL on June 17, 2015, 07:15:44 PM

withdraw 18 BTC to my wallet pending > 30 minutes Sad

How long time to process it?

Last time, it still 1 minute

Usually it's included in the next block. You got it already, don't you?

Their hot wallet might be empty. I have waited over 1 hour already... Undecided

ejinte

hero member

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Quote from: WINNIE_POOL on June 17, 2015, 07:15:44 PM

withdraw 18 BTC to my wallet pending > 30 minutes Sad

How long time to process it?

Last time, it still 1 minute

Usually it's included in the next block. You got it already, don't you?

WINNIE_POOL

newbie

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withdraw 18 BTC to my wallet pending > 30 minutes Sad

How long time to process it?

Last time, it still 1 minute

SebastianJu

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Quote from: fathur01 on May 30, 2015, 09:17:44 AM

Can I take lower rates swaps and re-land them at a higher rate?

No, i asked that before. You only can use the lend money to margin trade.

I think it would be good if possible since it would lower the price spread of the lending money order book.

fathur01

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Can I take lower rates swaps and re-land them at a higher rate?

Indamuck

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Quote from: noobtrader on May 27, 2015, 09:50:26 PM

you were right, if they really think btc going to da moon. they should buy btc more, not lend btc for peanut. unless they were whale and they lending btc at peanut rates so everyone can short btc and keep the price low

Actually, you are very wrong here. Warren Buffett made the same point about those who short the stocks that he owns: he loves it, and loves to lend them stock so that they can sell more. Why? Because he wants to buy more, as cheaply as he can. The shorts pay him interest, and pressure the stock so that he can load up at a more attractive price.

Similarly BTC accumulators - those who are buyiing btc consistently - would like to see btc price stay 'low' for as long as possible, in order that they have enough time to accumulate as much as they can, as cheaply as they can. I'm somewhat in that boat, preffering that we maintain low prices for an extended period while I continue to accumulate. If btc price rockets tomorrow, sadly i will not have bought enough!

noobtrader

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Quote from: HowardF on May 26, 2015, 11:05:27 AM

Quote from: noobtrader on May 19, 2015, 10:03:06 AM

the fact that ppl still lend out there bitcoin for 0.02% per day confuses me because you can lend out your btc for more at poloniex

The fact that people still hold on to the hope that bitcoin is going "To TEH MOON!!!!!1!!1" and lend BTC instead of switching it to USD and making much better returns confuses me....

you were right, if they really think btc going to da moon. they should buy btc more, not lend btc for peanut. unless they were whale and they lending btc at peanut rates so everyone can short btc and keep the price low

Dunkelheit667

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no degradation

I've never seen more than eight decimal places before (using the API). The root cause in my case seems to be a swap taken on May 27th with 16 decimal places (API and UI). However, the following swaps have eight again. Strange... whatever they use internally, there was a hickup.

At least from now on I can claim holding a fraction of one Satoshi. Wink

Sukrim

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Afaik they either use floats internally or at least in the UI.

Dunkelheit667

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no degradation

Not sure if the new support staff is following this thread... However, there is something wrong with your system/API:

BTC Swappable balance: x.xxxxxxxx18502256 Huh

I'm am not an expert but the smallest fraction of a BTC should be 0.00000001BTC, right?

Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 77. (Read 723861 times)