[BETA]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[myself]

Hello,

The forum is hosted on a VBulletin forum running a licence for VB5 Connect and lower versions and other components brought under the name of Bitfinex Limited.

Invoices can be given by email.

Best regards
Raphael

read the read me file you need to delete the install.php or someone can start a new installation and wipe the database and that means the loss of all content users etc etc

[Freakshow]

Did you leave Myself or were you "forced" out.  I am a little confused as to why the change anyways? can you clarify what up?

[superbit]

Still no official response to myself's accusations of over 1 million being credited to accounts on the site when cash was never put in?

[Sukrim]

Hello Sukrim,

Things I want to see as lender:
Higher leverage of at least 1:5 on the internal exchange at least
Margin trade for ltc to make them borrow more money.

I need to ask you something for this: are you ready to take a loss as a lender if there is not enough liquidity to liquidate a position before a trader's balance is negative?

This is actually the biggest problem. April has shown us that when the market is volatile, bad things can happen. At the moment we have chosen the path of the safety, first to recover from April losses, secondly until we are sure of the risk appetite of lenders.

Actually yes, as there is an insurance fund in place to cover for this. At the current rates I get for my loans (if at all) I rather have my money at my own bank than somewhere in HongKong, Slovenia or Japan. Higher lending interests would change this. Anyways I'm not suggesting you to let your traders run loose with huge margins, but I guess you can do better than 1:2.5. If you're so afraid of external factors, let them trade high margins only on the internal exchange. Also you can limit external exposure (e.g. MtGox) by just trading a couple thousand USD there and not potentially unlimited funds. Then withdraw these and as soon as they are credited on your bank account, rinse and repeat.

(P.S. I hope you keep your Ruby runtime up-to-date, there are exploits roaming the net again...)

If you are worried about volume, make sure you actually report it outside of bitfinex, e.g. on cryptocoincharts.info. nobody actually knows that you can also trade altcoins on your platform.
Also report your depth and volume to bitcoincharts to get more ppl interested who might also want to margin trade.

Yep, will do.

Fix the rounding issues, at least (!) in the history tab - my ledger is already about 0.0004 btc off from the account balance. If you calculate with 8 places precision, report somewhere with 8 places precision!

Ok we'll show you full precision in history table

Thanks, much appreciated!
If possible, a download in csv format for example would be great, I don't want to write html parsers...

[unclescrooge]

Still no official response to myself's accusations of over 1 million being credited to accounts on the site when cash was never put in?

I'm sorry what?

Do you have a link to this please?


(do I need to answer though?)

[2586]

Still no official response to myself's accusations of over 1 million being credited to accounts on the site when cash was never put in?

I'm sorry what?

Do you have a link to this please?

https://bitcointalk.org/index.php?topic=224745.msg2363350#msg2363350

(do I need to answer though?)

It is somewhat concerning, to say the least.

[unclescrooge]

It's answered.

I hope this clears things up.

The accusation part of money that doesn't exist (1 million, what a joke) is simply false. what would even be the purpose of this?

Anyway, going to bed now, I'm not productive any more. Sorry for all the dirty laundry. You don't have anything to worry about your funds, the losses of April are now covered and we now managed more money than our liabilities to you users are (in other words, we have a capital).

Best regards
Raphael
Bitfinex team

[wamatt]

It's answered.

I hope this clears things up.

The accusation part of money that doesn't exist (1 million, what a joke) is simply false. 1 million is 1 third of our total deposits, what would even be the purpose of this?

Anyway, going to bed now, I'm not productive any more. Sorry for all the dirty laundry. You don't have anything to worry about your funds, the losses of April are now covered and we now managed more money than our liabilities to you users are (in other words, we have a capital).

Best regards
Raphael
Bitfinex team

Thanks for clearing that up Raphael. Now get some rest!

[nrd525]

BTC loans is at 3298 BTC.  This might be an all-time high (at least in USD equivalent).    Someone thinks the price is going down!

USD loans are around equal ($426k) - which is pretty rare.

[EndTheFed321]

if the price goes down it will be good for btc overall.

But I think the price will go up. Giving Bitfinex a try just have to wait
6 confirmations for my Bitcoin transactions to show up in my account.

[myself]

@R since you banned me on the BFX forums can you take admin or give admin to anyone who wants to take over the forex gann sp500 gold? and silver? (i dont remember if there are other) discussion groups

[gog1]

Greeted by this when trying to access the site.

DNS Points to Prohibited IP

You've requested a page on a website (www.bitfinex.com) that is on the CloudFlare network. Unfortunately, it is resolving to an IP address that is creating a conflict within CloudFlare's system. If you are the owner of this website, you should login to CloudFlare and change the DNS A records for www.bitfinex.com to resolve to a different IP address.


Timestamp: Fri, 07-Jun-13 22:44:14 GMT


Your IP address: 108.162.241.222


Requested URL: www.bitfinex.com/0


Error reference number: 1000


Server ID: FL_29F5


Process ID: PID_1370645054.768-1-3429837


User-Agent: Opera/9.80 (Windows NT 6.1; WOW64) Presto/2.12.388 Version/12.15

[Ichthyo]

DNS Points to Prohibited IP

You've requested a page on a website (www.bitfinex.com) that is on the CloudFlare network. Unfortunately, it is resolving to an IP address that is creating a conflict within CloudFlare's system.
....

Timestamp: Fri, 07-Jun-13 22:44:14 GMT

tried it just now and it works for me OK.

Bitfinex indeed uses CloudFlare, but most of the time this is transparent for the user. Sometimes there is a temporary overload or configuration issue though.

[2586]

Any ETA on when lending functions will be added to the API?

[vokain]

I'm setting up an account to test things out.

On the plus side, this looks like a solid project.

On the negative side, I'm concerned about it getting hacked, shutdown by a financial authority, or borrowers not being able to pay back their money.

...
-shutdown by a financial authority: this is a valid concern. We will soon be incorporated in Hong-Kong, where we'll get a financial licence by the SFC (securities and futures commission of Hong-Kong). This is as much security as I will be able to provide, and I let you judge if this is enough.
...

Update? Love the service but I will refrain from my money here until the service is compliant. Do you have an ETA?

[unclescrooge]

Hello,

Greeted by this when trying to access the site.

DNS Points to Prohibited IP

You've requested a page on a website (www.bitfinex.com) that is on the CloudFlare network. Unfortunately, it is resolving to an IP address that is creating a conflict within CloudFlare's system. If you are the owner of this website, you should login to CloudFlare and change the DNS A records for www.bitfinex.com to resolve to a different IP address.


Timestamp: Fri, 07-Jun-13 22:44:14 GMT


Your IP address: 108.162.241.222


Requested URL: www.bitfinex.com/0


Error reference number: 1000


Server ID: FL_29F5


Process ID: PID_1370645054.768-1-3429837


User-Agent: Opera/9.80 (Windows NT 6.1; WOW64) Presto/2.12.388 Version/12.15

That is a first one. We never touched anything on our cloudflare setup the last days. How long did it last?

Any ETA on when lending functions will be added to the API?

No ETA, but we officially launched the work on this part of the API. This should be done within the next 3 weeks.

I'm setting up an account to test things out.

On the plus side, this looks like a solid project.

On the negative side, I'm concerned about it getting hacked, shutdown by a financial authority, or borrowers not being able to pay back their money.

...
-shutdown by a financial authority: this is a valid concern. We will soon be incorporated in Hong-Kong, where we'll get a financial licence by the SFC (securities and futures commission of Hong-Kong). This is as much security as I will be able to provide, and I let you judge if this is enough.
...

Update? Love the service but I will refrain from my money here until the service is compliant. Do you have an ETA?

We are still in the process of obtaining all the necessary authorization. This is taking as long as can be expected with bureaucratic processes.

Raphael

[unclescrooge]

ANNOUNCEMENT:

Bitfinex has evolved a lot since its beginning 7 months ago. We are very pleased  to announce the latest changes coming:

1) A totally brand new front-end coming in 1 month
2) Leveraged trading for LTC coming on the 20th of June
3) The HTTP API is ready for your bots to kick in, more information on our forum or website
4) A streaming API, using the ZeroMQ socket framework, is currently being developed for the fastest interactions possible.

Your suggestions for the new front-end are welcome, as are your questions.

This will close the beta period for Bitfinex in one month.

This thread will closed and a new official one will open.
You can find it by clicking here: https://bitcointalk.org/index.php?topic=229438.new#new

Thanks everyone
Raphael

[xeverse]

 
Any chance of bringing back the gox routing in the near future?

Stamp volume is not comparable to gox
therefore huge slippage occurs..
This stuff is untradable..


Would it be possible to settle margin trading in btc instead of usd?

[unclescrooge]

Any chance of bringing back the gox routing in the near future?

Stamp volume is not comparable to gox
therefore huge slippage occurs..
This stuff is untradable..


Would it be possible to settle margin trading in btc instead of usd?

Hello,

I forgot to lock this topic so I'll answer here:

-There is too much incertitude right now to answer the first question.

For the second question, this would be possible, if we add the pair USDBTC. Then position size would be in USD and you would be able to take profit in BTC. To go long BTC you would short USDBTC and vice-versa.

Anyway, I now lock this topic to continue the support here: https://bitcointalk.org/index.php?topic=229438.new#new

Best regards
Raphael