[USD and BTC needed]People are ready to pay high to trade. Take advantage of it! - page 3.

Eisenhower34

legendary

Activity: 906

Merit: 1002

So first, what happens when you get hacked...? Are you liable?
Second, who is in control of the wallet / bank account in case I give you USD / BTC?

Im not really interested in managing my loans on your website, nor do i trust your website so would you (if you are the person who is in control of the wallet / bank account) offer some form of "management" and personal liability for a loan?

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote

Currency    Average loan rates in % per 365 days    Average loan period    Total sum of active loans
USD    185.1648%    5.0 days    188459.17 USD
BTC    8.8957%    60.0 days    145.11 BTC

and there is a need for USD

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: whitenight639 on March 19, 2013, 10:29:18 PM

whats VIR?

variable interest rate
https://bitfinex.com/pages/stats

Quote from: whitenight639 on March 19, 2013, 10:29:18 PM

So if I lend Btc it is basically risk free as loosing traders get liquidated? can I move my Btc out at any time when I do not have active loans?

yes
note: withdraws are processed manually the next day after the request

@BurtW thx for posting Grin

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Quote from: whitenight639 on March 19, 2013, 10:29:18 PM

Quote from: myself on March 19, 2013, 11:17:30 AM

Quote

Currency Average loan rates in % per 365 days Average loan period Total sum of active loans
USD.............260.2938%.................................6.0 days..............170285.98 USD
BTC.............10.8081%...........................................48.0 days..............178.77 BTC

this recent spike on price did move VIR up be careful

whats VIR?

So if I lend Btc it is basically risk free as loosing traders get liquidated? can I move my Btc out at any time when I do not have active loans?

You can lend/borrow at a fixed interest rate say 10% APR, 100% APR, 400% APR, etc. or you can lend/borrow at a Variable Interest Rate (VIR) that changes constantly to match the current market interest rate. If you borrow USD using the VIR option then the rate you pay for the borrowed funds constantly changes as demand for USD and the rate people are willing to pay to borrow USD changes.

There is not a lot of demand for BTC at the moment since not many people are wanting to short BTC. What people need/want is USD so they can go long on BTC.

whitenight639

full member

Activity: 154

Merit: 100

Quote from: myself on March 19, 2013, 11:17:30 AM

Quote

Currency Average loan rates in % per 365 days Average loan period Total sum of active loans
USD.............260.2938%.................................6.0 days..............170285.98 USD
BTC.............10.8081%...........................................48.0 days..............178.77 BTC

this recent spike on price did move VIR up be careful

whats VIR?

So if I lend Btc it is basically risk free as loosing traders get liquidated? can I move my Btc out at any time when I do not have active loans?

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote

Currency Average loan rates in % per 365 days Average loan period Total sum of active loans
USD.............260.2938%.................................6.0 days..............170285.98 USD
BTC.............10.8081%...........................................48.0 days..............178.77 BTC

this recent spike on price did move VIR up be careful

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote

146301.34 USD

new record in loans

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: hazek on March 16, 2013, 08:06:35 AM

Quote from: myself on March 16, 2013, 12:57:58 AM

and there is need for USD

http://i.imgur.com/uDv5CsL.jpg

Do you accept bitstamp coupons?

atm no

hazek

legendary

Activity: 1078

Merit: 1003

Quote from: myself on March 16, 2013, 12:57:58 AM

and there is need for USD

http://i.imgur.com/uDv5CsL.jpg

Do you accept bitstamp coupons?

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

and there is need for USD

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

IMO there is will some need for BTC

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

https://community.bitfinex.com/showwiki.php?title=Margin+Call here are the numbers and a example

superbit

hero member

Activity: 763

Merit: 500

Quote from: myself on March 07, 2013, 01:27:14 PM

Quote from: superbit on March 07, 2013, 01:01:38 PM

So if the funds in my wallet are only to cover margins I take out, why wouldn't I just use the funds in the wallet to buy the bitcoins interest free if I wanted to take a long position?

if you got 100 USD in your wallet you can borrows up to 500 USD to buy btc

So how is the loan the people give secured. Let's say I max it out and buy 10 coins at $50, the price drops to $48. The margin is called and there isn't enough??

Is it always a 5 to 1 ratio?

Wouldn't it make more sense to let the person buy as many bitcoins as they want but as soon as they are down within 10% of their wallet you force sell the shares. Take from wallet to pay back lenders and they get difference.

Example, I have $1000 in my wallet. I could buy 10,000 BTC but if price drops $0.10 I am down $1000 at my limit you force sell shares. Or that same person could buy 1,000 BTC and now be able to afford a market drop of $1.00 per BTC before margin gets called.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: superbit on March 07, 2013, 01:01:38 PM

So if the funds in my wallet are only to cover margins I take out, why wouldn't I just use the funds in the wallet to buy the bitcoins interest free if I wanted to take a long position?

if you got 100 USD in your wallet you can borrows up to 500 USD to buy btc

superbit

hero member

Activity: 763

Merit: 500

So if the funds in my wallet are only to cover margins I take out, why wouldn't I just use the funds in the wallet to buy the bitcoins interest free if I wanted to take a long position?

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: superbit on March 06, 2013, 05:33:54 PM

Do I need to fund the entire loan or can I partially fund it?

for example
if some one demand 1000 USD u can give him 100 usd
if someone offer 1000 USD you can take 100 usd

superbit

hero member

Activity: 763

Merit: 500

Do I need to fund the entire loan or can I partially fund it?

hazek

legendary

Activity: 1078

Merit: 1003

Quote from: myself on March 06, 2013, 10:03:51 AM

Quote from: ?? on ??

weexchange

huh ?

also did u try to click on the about us page ? https://bitfinex.com/pages/about Tongue

Ooops I completely mixed up bitfinex with bitfounder.. Sorry about that.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: unclescrooge on March 06, 2013, 09:35:49 AM

We need BTC Lenders, we're running out of BTC to borrow.

Thanks everyone

About USD deposit, I know some of you are frustrated by the lack of wire deposit option. I had to take that down for legal safety reason but this will soon be available again, along with some others things.

Best regards,
Raphael

An alternative is to buy Bitcoin from somewhere else and then sell it on Bitfinex to get the USD to lend, I did that and it was rather easy.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: ?? on ??

weexchange

huh ?

also did u try to click on the about us page ? https://bitfinex.com/pages/about Tongue

Topic: [USD and BTC needed]People are ready to pay high to trade. Take advantage of it! - page 3. (Read 16429 times)