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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 87. (Read 723861 times)

legendary
Activity: 2126
Merit: 1001
Hey Everyone,

I'd just like to introduce myself to the community. I just recently joined the BitFinex team as Director of Community & Product Development, and I look forward to interacting with all of you to build the best trading platform available. I'll be here to listen to your suggestions and help with any issues you might encounter. Feel free to pm me at anytime and I'll get back to you as soon as possible.

Cheers,
Zane Tackett

Welcome, Zane!

Always nice to have a "short connection" to companies!

What is the position, or difference in that, of you and mjr? Are you inheriting his position? Are you both hanging around here?

Cheers,

Ente
newbie
Activity: 20
Merit: 0
Hey Everyone,

I'd just like to introduce myself to the community. I just recently joined the BitFinex team as Director of Community & Product Development, and I look forward to interacting with all of you to build the best trading platform available. I'll be here to listen to your suggestions and help with any issues you might encounter. Feel free to pm me at anytime and I'll get back to you as soon as possible.

Cheers,
Zane Tackett
hero member
Activity: 798
Merit: 1000
I love lending USD at these rates, I wish it was always like this Smiley

It sure is great if your just looking to make returns on your usd. If it goes up though you may have been better off buying coins  Wink

I don't expect BTC to increase in average as much as I'm getting in interest by lending my USD.

Of course not, otherwise you wouldn't be lending Grin
legendary
Activity: 1199
Merit: 1047
I love lending USD at these rates, I wish it was always like this Smiley

It sure is great if your just looking to make returns on your usd. If it goes up though you may have been better off buying coins  Wink

I don't expect BTC to increase in average as much as I'm getting in interest by lending my USD.
member
Activity: 63
Merit: 14
Ex-OKCoin guy joins Bitfinex:

Quote
Hey /r/BitcoinMarkets,

Over the past week or so I’ve been in touch with BitFinex and am very pleased to announce that I have joined the BitFinex team as Director of Community & Product Development.

For over the past year I’ve been focused on creating the best trading platform in the world and that is what I want to continue doing. While talking with BitFinex the one thing that attracted me the most is their commitment to this goal; our views are very much aligned. They are 100% focused on the exchange and giving traders the best experience possible. I hope that together we can continue to improve the--already very strong--products offered by BitFinex.

It is my honest belief that one of the best ways to improve your product is by listening to your users. I think I demonstrated this at my last job and moving forward I want to ensure everyone that I will be taking this mindset with me to BitFinex. I will continue to interact with the community, listen to what you guys have to say, and try to build the trading platform that you all want to use. You can contact me on here at anytime with any suggestions, problems, or just for conversation.

I look forward to working with you all and BitFinex towards creating the best exchange in the world.

Cheers,
Zane Tackett

Source: https://www.reddit.com/r/BitcoinMarkets/comments/2z8lih/i_am_excited_to_announce_i_have_joined_bitfinex/
full member
Activity: 148
Merit: 100
I figure but tell me why would anybody do this unless they had a plan in mind and why hasn't this happen in like ever before? Don't tell me there are people that expect the FRR to rise above 0.6 in the next two days lmao. Look at the rate when FRR wall was huge. Never was it pierced and now suddenly it happens all the time and gets ridiculous? Look at the orderbook.....Also why would it work this way to begin with? mjr has clearly said multiple times that people are comfortable with lending their money with FRR. You think someone is comfortable with having his money sitting at 0.1172 while funds at 0.7 get taken out? Where is the logic in this?

This makes for a absolutely ridiculous price discovery as well as making predictability of swap market as mess.

Again: This is the next swap manipulation in the making and it will probably again take months until somebody finds out that the guy taking out money at 0.7 was not stupid but knew something most didn't.  

EDIT: Interestingly enough the calculation on margin trading for going long and short seems completely botched. Untick "include variable rates" and check and it still says 8050 btc available at 0.11 to 0.43 per day. Couldn't be further from reality.
Maybe someone with big amounts lent on frr thought out he would earn more by increase in frr than he paid in one hour interest in that spike? It doesn't have to be true, he just had to think that. Assuming it was not a mistake.  

In the extreme, if literally everyone else was using only frr, you could set frr rates at will by lending $100 to yourself, at the cost of a 15% fee on interest
hero member
Activity: 798
Merit: 1000
I love lending USD at these rates, I wish it was always like this Smiley

It sure is great if your just looking to make returns on your usd. If it goes up though you may have been better off buying coins  Wink
legendary
Activity: 1199
Merit: 1047
I love lending USD at these rates, I wish it was always like this Smiley
member
Activity: 63
Merit: 14
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.
Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.

What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.

http://bfxdata.com/swapstats/usd.php

Intended behavior. It's like this since always, but you probably just havent noticed it before.
FRR still had a range from 2 to 30 days while all offers behind it were taken out (no 2 day offers spared or 30 only taken) so who would be that retarded unless he had agenda behind it? During the time when frequently just 1 m was ripped out of the book everybody was happy as well thinking "that guy must be stupid" until it occured to people through the careful investigation on bitcoinidiotdude that he was actually using a bug so he wouldn't pay interest for the hour. Same thing with the fake huge demand walls that were automatically shedding supply where bfx was doing nothing as well. This is the next swap market manipulation in the making.

If that is intended why hasn't this shit happened in the last couple of months when 3 m FRR wall was there and nothing behind it and never did the rate fly over it? Also what kind of shit system is this if it ignores the majority of supply? Don't you think at least some of the 577 offers sitting at FRR would have like to be taken out by that 300 k demand instead of it flying right through?

EDIT: lol next slurp up incoming. right up to 0.7 from a measily 56k whzile tere is a cool million sitting at FRR. That's how it supposed to work. lmao


Can you please tell me what kind of demand I have to put in so I can slurp up demand behind the FRR? Instructions please.

The people taking fixed 30 day rates about two weeks ago must feel pretty good right now (getting like 0.025% instead of 0.125%). And for cases like that, this system is in place.

It's up to the trade if they want fixed rates or not. If it's smart to do this or not... who knows? But it's definately not a bug. If people want to use it, just let them. They will have their reasons for doing this, completely not caring whether DoubleSwapper agrees with their reasoning or not.

I see people offering fixed rates at 0.06 quite often still. It's dumb, but they do it. There's no need for a system to protect them from themselves either.

Edit:
Quote
This makes for a absolutely ridiculous price discovery as well as making predictability of swap market as mess.

True, and i'm all for removing the FRR. But while that's not happening, there's no reason to let people have less choice in which swaps they accept.

Edit 2:
And it might even be smart to get high fixed rates now. There's only 2 more million total of swaps available. Rates might totally go through the roof if the BTC prices moves up. Or there might be no swaps available at all.
full member
Activity: 172
Merit: 100

I figure but tell me why would anybody do this unless they had a plan in mind and why hasn't this happen in like ever before? Don't tell me there are people that expect the FRR to rise above 0.6 in the next two days lmao. Look at the rate when FRR wall was huge. Never was it pierced and now suddenly it happens all the time and gets ridiculous? Look at the orderbook.....Also why would it work this way to begin with? mjr has clearly said multiple times that people are comfortable with lending their money with FRR. You think someone is comfortable with having his money sitting at 0.1172 while funds at 0.7 get taken out? Where is the logic in this?

This makes for a absolutely ridiculous price discovery as well as making predictability of swap market as mess.

Again: This is the next swap manipulation in the making and it will probably again take months until somebody finds out that the guy taking out money at 0.7 was not stupid but knew something most didn't.  

EDIT: Interestingly enough the calculation on margin trading for going long and short seems completely botched. Untick "include variable rates" and check and it still says 8050 btc available at 0.11 to 0.43 per day. Couldn't be further from reality.
hero member
Activity: 896
Merit: 1000
full member
Activity: 172
Merit: 100
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.
Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.

What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.

http://bfxdata.com/swapstats/usd.php

Intended behavior. It's like this since always, but you probably just havent noticed it before.
FRR still had a range from 2 to 30 days while all offers behind it were taken out (no 2 day offers spared or 30 only taken) so who would be that retarded unless he had agenda behind it? During the time when frequently just 1 m was ripped out of the book everybody was happy as well thinking "that guy must be stupid" until it occured to people through the careful investigation on bitcoinidiotdude that he was actually using a bug so he wouldn't pay interest for the hour. Same thing with the fake huge demand walls that were automatically shedding supply where bfx was doing nothing as well. This is the next swap market manipulation in the making.

If that is intended why hasn't this shit happened in the last couple of months when 3 m FRR wall was there and nothing behind it and never did the rate fly over it? Also what kind of shit system is this if it ignores the majority of supply? Don't you think at least some of the 577 offers sitting at FRR would have like to be taken out by that 300 k demand instead of it flying right through?

EDIT: lol next slurp up incoming. right up to 0.7 from a measily 56k whzile tere is a cool million sitting at FRR. That's how it supposed to work. lmao


Can you please tell me what kind of demand I have to put in so I can slurp up demand behind the FRR? Instructions please.
member
Activity: 63
Merit: 14
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.
Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.

What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.

http://bfxdata.com/swapstats/usd.php

Intended behavior. It's like this since always, but you probably just havent noticed it before.
full member
Activity: 172
Merit: 100
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.
Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.

What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.

http://bfxdata.com/swapstats/usd.php
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
If I want to short 5 bitcoins with a low interest rate do I need to get a swap for the full 5btcs?
Of course you do. How else would it work?

But you only need to trade on the margin account. You dont need to first take a loan. Its automated. Simply go to margin trading and buy what you want.

Thats something i wondered first too about.
legendary
Activity: 2618
Merit: 1007
If I want to short 5 bitcoins with a low interest rate do I need to get a swap for the full 5btcs?
Of course you do. How else would it work?
newbie
Activity: 25
Merit: 0
If I want to short 5 bitcoins with a low interest rate do I need to get a swap for the full 5btcs?

I really wish there was some sort of guide that explained the intricacies of swapping on Bitfinex.
member
Activity: 63
Merit: 14
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.
full member
Activity: 172
Merit: 100
mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through.  Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?
sr. member
Activity: 248
Merit: 251
Hello, i have a question about OCO stop. It always get executed at least 2 dollars above or the price i wanted. I wonder if for example i set it lower, will it will be executed at my tarhet price. Example i buy for 280 my target is 290 stop loss 275. It get execeuted at avarage 272. If i set at 278 will it get executed at 275?
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