Thoughts on Bitfinex statistics? - page 2.

SheHadMANHands

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Quote from: Peter R on October 21, 2013, 08:44:35 PM

The interest rates seem too good to be true. Sort of off-topic, but does anyone have experience lending on Bitfinex? Would you trust them with, say, 5% of your net worth?

Experience on the borrowing side, but not the lending side. The mechanism is the same. The owner is in France and is very responsive:
fr.linkedin.com/in/raphaelnicolle/

To my knowledge, there haven't been any real issues there.

Peter R

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The interest rates seem too good to be true. Sort of off-topic, but does anyone have experience lending on Bitfinex? Would you trust them with, say, 5% of your net worth?

SheHadMANHands

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Quote from: windjc on October 21, 2013, 08:24:45 PM

Thats why I know someone who sent $$ for lending there today.

The problem is it's all bitcoin-ers lending the cash, lol.

If the general public and bitcoin naive were aware of bitfinex, there'd be much lower rates always available.

windjc

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Thats why I know someone who sent $$ for lending there today.

SheHadMANHands

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What I found most interesting is that there is $55k requested at the moment at 100+% APR.

By extension, there's apparently no one on Bitfinex at the moment willing to sell their BTC to fulfill that request. It's all automated with Bitfinex, if I undersand correctly, so it's not like there's too much risk to loaning and that's why no one will fulfill at 100+%.

ArticMine

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Monero Core Team

It is indicative of a market that is getting overheated. This does not mean it is going to crash right away but when it does, the crash will sharp and violent. The BTC will then end up in stronger hands namely those who own the BTC outright and / or can borrow USD or other fiat at more reasonable rates say well under 10% APR.

I also suspect that the correction / crash will start in China.

SheHadMANHands

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Just a sample from the "Lending" page, below. Thoughts?

If I'm reading correctly, there may be many traders long, currently, and there are more traders willing to borrow USD (up to ~$55K) at 100% APR. If traders haven't eaten up the lower APR loans that were available, then those loans have been removed (and the lender likely purchased BTC himself).

1) Does this say something about the confidence in the current bullish market?
2) Can we assume the average Bitfinex trader is more informed (or a "better trader") than the general population?

Topic: Thoughts on Bitfinex statistics? - page 2. (Read 2688 times)