If you offer for e.g. 30 days someone can borrow it for 5 days.
..and can close it at any moment anyway. Ente |
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Global Peace Initiative Switzerland looks like a more-or-less religious organization, not at all secular. Doesn't qualify IMHO.
Does it really matter if its religious or secular were looking at charities that provide a service to people not what denomination they are a part of. Unless they are for-profit which does not seem to be the case here. Found additional info https://www.google.ca/?gws_rd=ssl#q=Global+Peace+Initiative+Switzerlandhttps://www.facebook.com/Friedensinitiative/infoHmm that said religious concerns aside seems to be about meditation and The Scientific Creation of World Peace http://www.vedicpandits.org/--- Think I agree with qwk though about its qualification but it does accept Bitcoin and that's what the Bitcoin 100 is about. Well, yes, it does matter, because those were the rules when most of the funds were donated to BTC100.. So it doesn't really matter if the charity in question is "good" or "bad", it'#s just that the funds can't be spent if they are religious, among other points. Ente |
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I must say that to be a duck you sound incredibly wise in all of your posts.  Keep up the good work and thanks a lot for helping Giancarlo Bitfinex Team :-> Seems like the manipulation that was busted by the guy who made the reddit thread has revealed how much swap money there actually is on BFX and how it is pushing the Swap Rate to pathetic levels again.
The market is so bullish at the moment, we have a lot of volatility and the total sum of active swaps is basically at a massive all time high of over 28 mio yet the rate is well below 0.2 % and actually slowly decreasing. Seems like BFX finally has the publicity that the average joe puts his money there to gain some interest. I truly fear for more bearish times. The swap rate will probably ( a bit exaggerated) drop to prime rate levels.
..I think we were a bit spoiled, earlier, with those unbelievable rates. Even now, with declining rates, this is an amazing rate compared to any other investment. Minus the risk and volatility of investing directly in Bitcoin. I like, both from a lenders and borrowers view. Ente What do you mean with "spoiled with unbelievable rates"? Yes, there have been days or more like hours in the (0.5-1 %) bracket which are retrospectively a pure result of manipulation ( I had mention these ridiculous spikes from 0.1 to 1 % for exactly one hours several times in this thread) but most of the time the rates are not that great. If you check the period of whole 2014 we can see that this has not been a great time for lending. Aside from this spike at the end of June interest rate has been constantly declining while the total some of active swaps grows and grows. I'm sure you are well aware of this site but still http://bfxdata.com/ take a look at the development from 14th June onwards. It's almost comical. I'm just asking for opinions here. I've stated something simliar a few months ago and disregarding the manipulation my take is that with BFX's popularity increasing and their "insurance" on swaps the platform is bound to be flooded wtih capital seeking interest rates higher than any bank (can or is willing) to offer. This will ultimately result in the interest rate reaching lower and lower levels. In the past few weeks I've seen numerous threads on reddit of people asking for advice on how to put their money on BFX for swaps and whether it's worth it. It surely is but it might not be for a long time anymore. With the Chinese exchanges obviously copying the BFX model I'm wondering whether this could (on a perspective on the whole market) lead to more demand and an increase in swap rates again. The other event that has the potential to massively increase the swap rates is another full fledged bubble of course. Any opinions here? .. I was referring to 2013, where the rates really were high.. And the rates themselves were volatile too! I agree with you. The rates might go lower, long-term. And will go up shortterm, in the bubble-in-the-making :-) ..and both "will go up" and "bubble" might turn out to be an understatement. Or not, let's find out! Ente |
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Seems like the manipulation that was busted by the guy who made the reddit thread has revealed how much swap money there actually is on BFX and how it is pushing the Swap Rate to pathetic levels again.
The market is so bullish at the moment, we have a lot of volatility and the total sum of active swaps is basically at a massive all time high of over 28 mio yet the rate is well below 0.2 % and actually slowly decreasing. Seems like BFX finally has the publicity that the average joe puts his money there to gain some interest. I truly fear for more bearish times. The swap rate will probably ( a bit exaggerated) drop to prime rate levels.
..I think we were a bit spoiled, earlier, with those unbelievable rates. Even now, with declining rates, this is an amazing rate compared to any other investment. Minus the risk and volatility of investing directly in Bitcoin. I like, both from a lenders and borrowers view. Ente |
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Well, Gancarlo might be somewhat controversial, right?
BitFinex' service however, is awesome!
With great joy I found a counter which adds up all funds I have marked in a margin position!
You guys rock! That's you included, Giancarlo! :-)
Ente
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Feature request:
For some months now, whenever some loans are replaced by new loans, the original count of loans stays. Like, replacing 10 loans of 10$ each will have 10 or more new loans in the list, even when all of them are replaced by the same big 100$ loan. Over the time, the loans count goes through the roof.
a) Use the old mechanism, where taken individual loans are merged into the offer they came from
b) In the "Swaps used in a margin position", have a row with "total amount", like in the orderbooks too. Always summing up the amount from the first row on, no matter what the table is sorted as.
As you, Giancarlo, some months ago already explained that there are internal reasons for this behavior, I guess option b would be more realistic. It would be a workaround only, but would help me out a lot. I spend substantial time every day to replace expensive or running-out loans, and have to calculate the sum of loans in a spreadsheet for every iteration.
Ente
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Wow, you really have to advertise your http://bitcoinbullbear.com/blog/ more! I just found it, and I like it! Those non-(chart)technical analysis are in good company with your (chart)technical ones! :-) Ente |
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I has been given the tip about this thread here. Since i wanted to fight free trade agreements like TTIP (with their democracy undermining arbitration courts and following problems for citizens) i searched a political movement that accepts bitcoins and fight TTIP. I found Lobbycontrol eV http://de.wikipedia.org/wiki/Lobbycontrol which is a not so small NPO fighting lobbying. I asked them to accept Bitcoins and at the end i helped them setting up a way to donate Bitcoins with bitpay.com. Then i donated a nice amount of coins. Here is the original thread in german about it: https://bitcointalk.org/index.php?topic=574721.0;allAnd here the link for donating bitcoins: https://www.lobbycontrol.de/unterstutzen/bitcoin-spenden/Anyway... im not sure if the website matches this threads effort but it might be the case. Thanks! Nice work, Sebastian! Ente |
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There are two reasons an offer at a bidded rate might not get taken:
1. If the bid duration is longer (eg 30 days) than the offer the offer won't be taken even at the same rate.
2. If the bid is for an amount larger than the offer, ie the offer cannot satisfy the entire loan demand, the offer won't be taken.
I've only started to notice the second one recently, as people put up bids for eg $300,000 in one block, and I can't fill any of it with my piddly few thousand of $s to lend. I'm not sure whether it fills if the sum of all bids at that rate and maturity add to more than the bid, but I guess that would probably fill it. I'm not sure about this though, can someone from BFX clarify?
2) isn't the case. As soon as a (part of a) bid and a request match in duration time and rate, they are matched. 1) will be the case whenever the orderbook looks like it overlaps: someone requests funds on a seemlingly higher rate than the best offer, but wants that loan for a longer time period than is offered at that rate. Ente |
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That reddit post says that
1) you don't have the mandatory 1h rate when you close used funds
2) you can post unlimited offers, as long as each offer is lower than your swappable balance
This combination makes it possible to create huge walls and eat up all competition, with almost no costs.
Is this correct?
If yes, I vote to change both of these points.
It will harm a few honest traders, I guess.
But as it seems to already be used for illicit manipulation..
edit:
1) is already fixed, as Raphael posted in that reddit thread.
Talk about fast reaction and close contact to the community!
Ente
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Something should be done about this. Notably the $10 million USD swap bid wall (at the flash return rate or above), if fake, should not be allowed to exist.
Only offers backed by funds are possible on bitfinex. So someone has several mils in his account, and has some fun. I don't see anything bitfinex should, or could, do. What's the problem? I though we were the crowd against regulation, and pro free market? :-) This is indeed ridiculous. Would appreciate a comment from the site owners.
They are seen a bit too rare for my taste. We (have to) trust them a lot.
It's good to see the community pointing these things out.
Uh, I like bitfinex for their transparency and close contact with the community. You probably never experienced the worse example' companies, right? :-P Ente |
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I really think bitfinex could also start to increase the possible leverage (at least for the more liquid BTC/USD market).
This would really encourage trading volume and also have benefits for the lenders (very likely higher interest rates).
I think the risks outweight the benefits. The BTCUSD market will have dramatic swings, and I expect that to happen especially in the next two months. Flashcrashes would come. Avalanches would come. And with some of the newer users, this would end bad. And then there's no full insurance for the funds, as icing on the cake. I really hope the margin leverage won't be risen. Heck, I would rather suggest to lower it to 1x "leverage" as default, and enable higher leverage for users who know what they do. With them being able to answer a simple test or something. Ente |
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Sehe da keinen widerspruch. Ausser, dass natürlich bei so ziemlich jedem Maß des Menschens eine breite Varianz besteht. ..und mal wieder viel zu lange bei Wikipedia steckengeblieben :-) Ente |
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termin wäre 19.6 korrekt? GENAU! :-) sowas von erledigt!  Do 19.6 ab 18 Uhr an unserer Tafel im Weinkeller des Café Puschkin. ..dann bis heute Abend, die Damen und Herren! :-) Ente |
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Risk assessment most likely? If your trading servers are somewhere where "they" have strong leverage to shut the servers down, your HK company won't help.
Not in the US and not in Hong Kong. They are in a safe place. Have a good day Giancarlo Bitfinex Team Hi Giancarlo I have a question. I just put my BTCs as SWAP provided with the function "Auto-Renew" and I accidentally left "30 days" as default option. I just wanted to try out the feature, are my BTCs now "trapped" in SWAP provided for 30 days? How does it work? I just deactivated the "Auto-renew" function. Does it mean that when the user/users who is borrowing my BTC to short closes his position I can have my BTC back and use them for margin trading or withdrawal (before the 30 day period)? How can I access my BTCs without having to now wait for 30 days? Thanks. Well, maybe post details of the exact swap we are talking about here. If you are lucky, the person who took it reads here and releases it. It can be identified with the date it will run out and the sum of the swap(s). Ente |
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Hi Giancarlo
I have a question.
I just put my BTCs as SWAP provided with the function "Auto-Renew" and I accidentally left "30 days" as default option.
I just wanted to try out the feature, are my BTCs now "trapped" in SWAP provided for 30 days?
How does it work? I just deactivated the "Auto-renew" function. Does it mean that when the user/users who is borrowing my BTC to short closes his position I can have my BTC back and use them for margin trading or withdrawal (before the 30 day period)? How can I access my BTCs without having to now wait for 30 days?
Thanks.
If the person that borrowed your btc keep the contract for 30 days and if he's not closed because of the margin there is no way to get it back. Strictly speaking, this^^ is correct and there is no fault in this of Bitfinex. However, considering the fact that there is plenty of coins which people do want to lend, I personally see no wrong doing by Bitfinex if your get your coins released as a courtesy, per your request to support. As a few times already in the past, this is one of the situations where it's not Bitfinex' own decision, because it's a contract between the two business partners. Cheer up, you're gaining money on this "error", Wandererfromthenorth :-) Ente |
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Online computer -> Create Transaction -> Load to SD card
Virus transferred from online computer to SD card 1 Put SD card on read only
Offline computer -> Enter SD card -> Load transaction to harddrive
Virus transferred to offline computer -Remove read only SD card
-Enter different SD card than the one used before to the offline PC
Offline PC -> Sign offline transaction on the new SD card (the one that came from the old read only sd card)
Virus transferred to SD card 2, now with the private keys. Take out SD card, put it on read only again
Insert it in the online pc, broadcast.
Virus transfers all funds to evil hacker. --------------------------------------------------
This would eliminate the risk of malware being able to write directly to the potentially infected storage device. What do you think?
I think this scenario of infected SD cards / USB sticks and custombuilt malware is so unlikely that one should not worry about it. But I cannot see that read-protecting the cards help at all (even if read-protecting was actually read-protecting and not just a software hint). I agree, read-protection won't help much, as you still need one writable channel from online to offline, and one from offline to online. No matter how you turn that. The question, of course, is to find a channel with the least risk to execute any code. USB is a bad choice for that, with some auto-run functions enabled on some systems, and obscure drivers in all systems for dozens of usb devices, where each one could have a hole. An SD card could be a better choice, as you only expose an SD card slot with its driver, and not a whole usb. But even with qr or audio or morse code, we have to make sure the driver is watertight, and the operation system only ever uses that single driver. Ente |
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How could offer rate be lower than demand rate?
Is it because of different swap time ranges?
Cheers that's correct! Have a good day Giancarlo Bitfinex Team Giancarlo and Bitfinex: http://www.bfxdata.com/ is in need of help with their hosting and fees. Since you link them on your site now, will you consider helping them? Their site is a great companion tool to Bitfinex. Thank you. I would greatly appreciate that too! Ente I'm in serious need of better web hosting. If someone can recommend me a web hosting provider with LARGE bandwith limits (or non at all  at a reasonable price, please do contact me via mail. Also I'm in serious need of donations to pay for webhosting, as it'll cost me between $45 - $100 each month to keep providing the service as before. Just keep in mind I do this for fun. I'm not sure I'll keep providing this service when it will cost me $45 per month... Rgards Bjorn |
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I was thinking, how about a read only SD card?
////////////////////////////////////////////////////////////////////////
Online computer -> Create Transaction -> Load to SD card
Put SD card on read only
Offline computer -> Enter SD card -> Load transaction to harddrive
-Remove read only SD card
-Enter different SD card than the one used before to the offline PC
Offline PC -> Sign offline transaction on the new SD card (the one that came from the old read only sd card)
Take out SD card, put it on read only again
Insert it in the online pc, broadcast.
--------------------------------------------------
This would eliminate the risk of malware being able to write directly to the potentially infected storage device. What do you think?
Great idea! Except the detail, that the switch is only a flag, and the software on your computer decides to interpret that flag as "read only". Or not. Newer USB sticks with such a switch are the same, if you can find them. I believe the older ones with a switch really worked as one would expect: the switch changes something in the usb stick controller to make it impossible for the host computer to write something. I am not 100% certain though. Ente |
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I had a similar bug happening to me where one of the sides (usually the demand side) would not load at all and even reloading the page was useless. I had to completely close my browser and login in to BFX again so it would look normal again.
A relogin solved it for me too. Ente |
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