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

[oakpacific]

Hello, how are things going on with incorporation and insurance?

[1713285991]

1713285991

[1713285991]

1713285991

[1713285991]

1713285991

[romantic1]

Today, I can't deposit bitcoin by mtgox code. I don't know why ?

[myself]

BFX motto is

Nobody went broke taking profits!

dont forget this and take profits dont be extremely greedy or the market can punish you

[romantic1]

Today, I can't deposit bitcoin by mtgox code. I don't know why ?

I used to deposit bitcoin as a redeemable mtgox code many times before. But now, I can't ! It says "An error occurred. Please check your code and try again." What's the problem with your site ? My code is correct !

[acf6996]

Reducing the BFX fee to 0%. Is a nice incentive to lure more liquidity to the BFX market.

Please also consider to introduce an API soon. If this is too difficult for trading and lending then please start just with the exchange. Together with 0% fee this should improve BFX liquidity a lot as soon as the first bots show up.

[molecular]

Some questions regarding VIR:

1.) Is the rate being locked-in when the loan is opened or does it change during the runtime of the loan?

2.) Where can I see the current rate of an active loan?

3.) currently I see a loan demand: 2 day    390.0%    amount: 499.83. I put up an offer matching it (amount $500, 2 days, 390%). It doesn't get matched. Why?


EDIT: regarding 3.) you can see here the "crossing supply/demand":

[Sukrim]

1) changes every 15 minutes AFAIK.

2) with vir it's hard. you can see the current averages on the stats page, but I'm not sure if they really show vir as it was changed to being an average over the past few days (30?).

3) same for me, my btc offers are not displayed even and I am not able to match the 10% loan demand. I first thought its a rounding display issue and the loan is really for 9.9999% or so, but it seems that either the display or something else got stuck.

[molecular]

thanks for your answers, sukrim

3) same for me, my btc offers are not displayed even and I am not able to match the 10% loan demand. I first thought its a rounding display issue and the loan is really for 9.9999% or so, but it seems that either the display or something else got stuck.

I tried using the "lend" button next to the loan demand entry. Doesn't work either. Seems the matching engine is paused or something.

[molecular]

strangely my loan offer got taken:



but the demand I was trying to match is still there. Maybe this is a display issue and the demand entry doesn't get removed. I say this because the active loan displayed at the bottom of my screenshot matches exactly (exact amount,interest rate, max duration) the demand entry.

[molecular]

I think I partly figured out why demand/offers don't get matched: As previous poster suspected, interest rates on display in order book are rounded (to 10% quantities). The demand I was trying to match was probably for less than 380%.

I entered an offer for 379% and it got matched to the demand (shown as 380%). That loan is now active at 379%

EDIT: I entered an offer at 790% and it's shown at 800%. I think this needs fixing.

[btctraderr]

Hello, how are things going on with incorporation and insurance?

I'd also like to know this, the website still says February.

[unclescrooge]

Hello everyone,

First, legal news. If you go to http://www.icris.cr.gov.hk/csci/ (the official Hong-Kong registry site), you will find us under the name "Bitfinex Limited" (search as a unregistered user).

The reason we didn't announce it yet is that the company has not yet official taken over the activity of the website, and we are still in the process of finding a bank account. This is unexpectedly hard, and to be honest, this is driving me mad. Anyway I'll probably fly myself to Hong-Kong to get things done...

Furthermore, MTGOX code deposit don't always work, for some reason (related to timeout it seems). So you can be assured that we are doing everything we can to speed up the process a finding a bank account to accept deposit. I'll update the website to reflect this last changes.

Now, about the lending page: to compact offers a bit, I've decided to group them by 10% rate asked. Now the fact that I round them to the upper 10% for loans demands is maybe not the wisest choice, I'll see if I can change that.
If you don't find it more useful than the previous page, just tell me and I can reverse the change;

Best regards,
Raphael

[molecular]

Hello everyone,

First, legal news. If you go to http://www.icris.cr.gov.hk/csci/ (the official Hong-Kong registry site), you will find us under the name "Bitfinex Limited" (search as a unregistered user).

The reason we didn't announce it yet is that the company has not yet official taken over the activity of the website, and we are still in the process of finding a bank account. This is unexpectedly hard, and to be honest, this is driving me mad. Anyway I'll probably fly myself to Hong-Kong to get things done...

Furthermore, MTGOX code deposit don't always work, for some reason (related to timeout it seems). So you can be assured that we are doing everything we can to speed up the process a finding a bank account to accept deposit. I'll update the website to reflect this last changes.

Now, about the lending page: to compact offers a bit, I've decided to group them by 10% rate asked. Now the fact that I round them to the upper 10% for loans demands is maybe not the wisest choice, I'll see if I can change that.
If you don't find it more useful than the previous page, just tell me and I can reverse the change;

Best regards,
Raphael

This is good news about the incorporation. Thanks for thinking about the lending page. Let's see how it goes. Good luck getting a bank account. One wouldn't think it should be problematic... but what do I know.

[unclescrooge]

Well it's not problematic, it's complicated. There is regulatory issues, you have to explain every details of your activity,... and it's taking long.

But don't worry we'll get there.

[SlipperySlope]

The new style BTC Lending page looks much less informative than what I recall being there before. For example, 15 offers are now grouped into the 10% category, which is the majority of lending offers.

[unclescrooge]

Well, if everyone agree with you I'll revert this change.

What do you all think?

Thanks for the feedback ²

[oakpacific]

Hello everyone,

First, legal news. If you go to http://www.icris.cr.gov.hk/csci/ (the official Hong-Kong registry site), you will find us under the name "Bitfinex Limited" (search as a unregistered user).

The reason we didn't announce it yet is that the company has not yet official taken over the activity of the website, and we are still in the process of finding a bank account. This is unexpectedly hard, and to be honest, this is driving me mad. Anyway I'll probably fly myself to Hong-Kong to get things done...

Furthermore, MTGOX code deposit don't always work, for some reason (related to timeout it seems). So you can be assured that we are doing everything we can to speed up the process a finding a bank account to accept deposit. I'll update the website to reflect this last changes.

Now, about the lending page: to compact offers a bit, I've decided to group them by 10% rate asked. Now the fact that I round them to the upper 10% for loans demands is maybe not the wisest choice, I'll see if I can change that.
If you don't find it more useful than the previous page, just tell me and I can reverse the change;

Best regards,
Raphael

Thanks Raphael, it's nice to know. I am curious, so you didn't need to register as a security dealer there? As far as I am concerned if you wanted to register one to maintain insurance is actually a prerequisite, so I kinda wonder what do the authority there see bitcoin as?

[unclescrooge]

We have not yet got a financial licence from the SFC (Securities and Futures Commission of Hong Kong). This is again something that is likely to take more time, and I prefer not to give an estimate date as I'm always surprised by how long these things take.

If you have any more question don't hesitate to ask
Raphael

[molecular]

Well, if everyone agree with you I'll revert this change.

What do you all think?

Thanks for the feedback ²

I don't have a problem scrolling the page. I'm for ungrouping or grouping to 1% increments.

[molecular]

on a side-note: whatever happened to "don't use floating point for financial apps"? ;-)