12qzLFBajuZgTS7avYcthofkzp9BrLBd6n

Hookers and blow, it'll be.

No. I would borrow 2-3 times the amount I need, and have the program recycle the borrowings constantly. There would be a steady, interest-free balance for long-term shorting.

Yes, and in general push the market rate up, as not everyone keeps the Auto-lending feature on.

I do not claim such a bot exists. Just saying it is a possibility, as this "taking an offer, returning the money within 1 minute" seems to be very persistent. Since it is possible to hold lender's money without paying interest, it is possible to automate the process. Benefit: shorting for free.

If you do not see any problem with this, please lend me some money. I will hold your money, but will not pay any interest. From lenders' point of view this is definitely a problem.

The P2P lending feature is great, but needs some fine tuning. Apparently it is possible to borrow very short term (minutes, hours?) and not pay any interest at all. This feature is being actively abused by some borrowers. Lending offers are taken, and the borrower returns the money immediately. There are various reasons why the borrower would do this. The wildest one being; one could set up a borrowing bot to constantly recycle loans, and thereby borrow without paying any interest at all! For a lender, choosing "Auto-renew" is not always a good option.

Bitfinex solved this same issue by making the borrower pay interest for at least one hour. So even if the borrower returns the money after just 30 seconds, he still pays one hour's worth of interest. This would be a fair way to solve the issue. As per now, lenders gain no interest even though they provide the funds, and Poloniex gains no commission for this activity. If the lender did not have Auto-renew on, his money is now off the market until he comes back (could be days).

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Another suggestion: Currently the site's exchange and lending pages are very slow to use. The site provides you all kinds of unnecessary information, and then immediately starts refreshing that unnecessary data. Getting an offer through, requires sometimes minutes of waiting. For example, when logging in, it is not necessary to download the full orderbook, chart, market depth, past trades etc. for Monero. That info is needed only by those who trade Monero, not by everyone who logs in. There could be an option to customize what kind of info is shown. E.g., don't want the trollbox? Fine, just opt out in the "My profile"-page. A lot of bandwith and server resources is saved and the site becomes usable again.

The last one: Sometimes after lending with Auto-renew on, the market rate moves up, and there's a need to switch the Auto-renew off for all of one's outstanding loans. This is a pain in the butt, as by that time, your one 10 BTC lending offer has turned into 35 small loans, and you have to click the Auto-renew off one by one. The site is very slow (see the above paragraph), and this will take minutes. So, how about a simple "Auto-renew ON/OFF" switch for "My Active Loans"?

The way I see it, that is an improvement. Also the short term rates would go up, and 30 day rates down.

I have a suggestion regarding the swaps.

The issue: Borrowers mostly want 30 days, while many lenders prefer to lend shorter periods. Since the orderbook is shared, sometimes the bid/ask spread looks ...interesting.

A solution: Enable swaps trading. So, the same account could both borrow and lend, and would pay fees according to his net position. This would fix the spread, as it would become profitable to borrow short term (at a lower rate), and lend those very same funds for 30 days (at a higher rate). In this way, the swaps themselves would become a tradeable commodity. In the present situation they are only half way tradeable; you either borrow or lend, not both. Bitfinex would naturally need to ensure those swap term-arbitrageurs could cover their potential losses (i.e. the net position needs to be in proportion to the account's funds).

Bitfinex would benefit from the increased volume; short-term lenders would find a borrower quicker (while getting a better rate); long-term borrowers would find a lender quicker (getting a better rate, too). In general, the swaps market would work more smoothly.

Sorry if this idea has been presented before by someone else. I do not have time to read all those 278 pages.

What we need now is a YouTube clip "Hitler is told JD is shutting down". 

Depends... banning Canadian ip-addresses might suffice.

Do you use VPN? I've sometimes had problems with that, especially after changing the country. The site is working, I just transferred my coins successfully.

Most, if not all, Western countries have a system, where one can ask the authorities how exactly they're going to apply a certain law. So, in this case there's a need to know if all that KYC stuff applies also to BTC gambling, and not just exchanging BTC/CAD. Also, could JD continue as usual, if they wouldn't accept Canadian clients? That would surely be a suboptimal solution, but better than shutting down completely. I gather that Doog & Deb aren't enthusiastic about registering in Panama, Malta, Gibraltar or similar.

Then I must've been super lucky. Thus far when I have lent for 30 days, it always said "30 days". Now, since today, it was "2 days" and "5 days". During the past year I've lent at least a hundred times, probably more. It is possible this could have slipped through me a few times, but if it was often, it would be impossible not to notice.

It seems Bitfinex has again worsened the P2P lending from lenders point of view. Now it does not matter if you specify e.g. 30 days lending period. If the borrower wants it for two days, he can just take it. Previously he at least had to cancel it. In this new system, for a lender the only chance to find a 30-day borrower, is to hit a 30-day bid. In that case, the lender loses at least the spread, often more.

An orderbook with different periods mixed is not a good solution. There should at least be a filtering feature. It would help borrowers and lenders alike.

Thanks for the info. I managed to initiate a SEPA withdrawal. Maybe we who have bitcoins stuck somewhere, still have hope  

I really hate it when companies have Twitter accounts etc., but don't use them to communicate about problems. Especially these days, when there's a lots of troublesome things happening at the exchanges.

Right now I can't withdraw anything. I tried both EUR and Litecoin. I get "Service unavailable".

Not related. Blockchain.info does not run the Bitcoin network, or Kraken. Instead of blockchain.info, one can use e.g. blockr.io to check transactions.

I've got now 31 confirmations, no coins. I haven't received a reply to my ticket, but hope they're on it.

Does anybody else have had problems with depositing bitcoins to Kraken? My transfer has already 18 confirmations, nothing showing. I naturally contacted Kraken's support, but I guess getting a reply takes a day or two. Just wondering if it is everyone or just me.

There are a lot of days when two-day lending offers completely swarm everything else, and somebody looking to borrow a large amount for 30 days, can only see a few offers, not the whole picture. Having a filter would not harm anybody. The options could be e.g. "all", "2-7 days" and "8-30 days". In that way, those who like the current view, could continue using it. From Bitfinex's point of view, this would be beneficial, as it helps connecting borrowers with lenders. There would still be just one orderbook, but alternative ways to view it.

I agree this would be good. I'm sure flash return rate is convenient for those who can't log in often. However, lately the flash return rate pool has been close to 1 million USD, and that completely clogs the market. Your only way is to undercut the FRR, which drives the rate even lower.

Removing the FRR (even temporarily) + my suggestion about the rate filter, would hopefully bring the market back to balance. I don't think the rates we had during Christmas (>1%) are healthy, but this 0.09% is another extreme. The P2P lending idea itself is brilliant, it just needs some fine tuning.

My guess is, margin traders got burned badly on Feb. 10th. Almost all of them were forced out of their positions, some traders wiped out completely. Now the swap market is damaged, because of lack of borrowers. No borrowers -> some lenders, including me, will find greener pastures. Today's 0.09% swap rate is about 30% annualized. Faced with that, I think I'll try my hand with stock picking instead.

A similar crash took place in another margin trading platform, BTC-E. IMO, the point was to force margin traders out of their positions, and buy back at cheaper prices. Bitfinex should protect their clients and their business against this kind of 'predatory trading', and prevent the biggest flash crashes. Many stock exchanges and futures markets automatically freeze trading, when the prices fall a certain amount. A five minute automatic freeze if the market falls e.g. 20% in five minutes, could prevent these manipulated crashes from happening.

Another problem with the swaps is, there is an imbalance between time frames. Borrowers want 30 days, lenders offer 2 days. This is not a problem in itself, but when they're placed on the same orderbook, the supply and demand do not meet. Two-day lenders are happy with whatever return, while those willing to commit capital for 30 days, naturally want more. Therefore, Bitfinex should enable filtering swap offers, e.g. 'less than a week' and 'longer than a week'. In this way the borrowers would get more realistic picture as to what kind of rates they need to pay. I made a sample of what it could look like. By clicking '8 -30 days', it would only show those offers.

I couldn't agree more. I had something semi-valuable to contribute to one member question, but can't. Moreover, when trying to post this, the site b*tches about me having made a forum posting less than 360 seconds ago (not true, as I haven't done anything yet). Oh, well...