myself
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chaos is fun...…damental :)
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March 07, 2013, 06:27:14 PM |
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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 |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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superbit
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March 07, 2013, 08:03:30 PM |
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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. |
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myself
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chaos is fun...…damental :)
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March 07, 2013, 09:40:02 PM |
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 13, 2013, 08:24:15 PM |
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IMO there is will some need for BTC
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 16, 2013, 05:57:58 AM |
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and there is need for USD  |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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hazek
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March 16, 2013, 01:06:35 PM |
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Do you accept bitstamp coupons? |
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 16, 2013, 04:52:42 PM |
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Do you accept bitstamp coupons? atm no |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 18, 2013, 11:36:28 PM |
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146301.34 USD new record in loans |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 19, 2013, 04:17:30 PM |
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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 |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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whitenight639
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March 20, 2013, 03:29:18 AM |
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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? |
125uWc197UW5kM659m4uwEakxoNHzMKzwz
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BurtW
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Activity: 2646
Merit: 1136
All paid signature campaigns should be banned.
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March 20, 2013, 03:49:16 AM |
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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. |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 20, 2013, 03:49:33 AM |
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whats VIR?
variable interest rate https://bitfinex.com/pages/statsSo 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  |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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myself
Legendary
Offline
Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 21, 2013, 10:40:15 AM |
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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 |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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Eisenhower34
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March 21, 2013, 11:44:05 AM |
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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?
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 21, 2013, 11:50:34 AM |
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So first, what happens when you get hacked...? Are you liable? no hot wallet all transaction are manually processed once per day Second, who is in control of the wallet / bank account in case I give you USD / BTC? MTGOX 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?
i let OP to answer to this |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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BurtW
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Activity: 2646
Merit: 1136
All paid signature campaigns should be banned.
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March 21, 2013, 11:55:52 AM |
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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?
There are very nice auto lending features. Just select the interest rate you wish to lend out at or you can even auto lend at a variable interest rate. I just check on things once per day to see how much interest I have made. Also, all withdrawal requests generate an email to verify you did in fact request the withdrawal which is a nice feature. Of course trust is always an issue when you give your funds to someone else. |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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Eisenhower34
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March 21, 2013, 11:59:48 AM |
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So first, what happens when you get hacked...? Are you liable? no hot wallet all transaction are manually processed once per day Doesnt answer the question... "When you get hacked" isnt really limited to your server... Second, who is in control of the wallet / bank account in case I give you USD / BTC? MTGOX ... and who has the mtgox login informations? 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?
i let OP to answer to this Let me rephrase that. Would you be interested in a direct loan, fix rate. Of course trust is always an issue when you give you funds to someone else.
And thats the problem here. I do not say that I do not trust them, but I do not really trust their software skills. Someone hacks in, change the withdraw address of some transactions and even your "manual" approvement nor that cold wallet feature will help here. Thats why I prefer a direct loan with 1 guy to chase down if things go nasty. When you get hacked you have the owners blame the coders, the coders blame the hoster and the hoster blames the coders, really messy. |
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myself
Legendary
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Activity: 938
Merit: 1000
chaos is fun...…damental :)
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March 21, 2013, 12:08:32 PM |
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@Eisenhower34 OP will answer to your questions just wait a little bit  |
Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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unclescrooge (OP)
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March 21, 2013, 12:47:17 PM |
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Hello Heisenhower,
I must be misunderstanding you, but if you don't trust our website why would you want to lend it some moneys?
Anyway, I'll do as if I didn't understand you and will try to answer your questions:
Bitfinex has recently been incorporated in Hong-Kong. We do not have a bank account yet, (hence why no real communication about our incorporation) and we do not offer legal liabilities for losses that may occur.
I, Raphael NICOLLE, and my wife, are the only one who controls the keys of the bitcoin wallet. These keys are not on the server (read-only wallet on the server). We also are the only one that can access our Mtgox account (with OTP). Similarly, there is no withdrawal enabled keys on the servers. Our partners don't have any control on the funds of Bitfinex.
We do plan (and will have to) have some liabilities for user funds, in the name of Bitfinex Ltd, not in my personal name. But at the moment, no, I won't offered personal liabilities on that. And finally Bitfinex can't provide a fixed term loans, as there is no guarantee your funds will be lent.
Hope that answer your questions.
Best regards,
Raphael
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Sage
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March 21, 2013, 01:06:45 PM |
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Although things can always changes, so far, after testing Bitfinex out for few weeks I give them the thumbs up. I've lent Bitcoins, and got 17.5% return. I've lent fiat and got average 105% return. I've margin traded (at ridiculous rates) too. The system is solid with limit, stop, running stop order options. Stops executed perfectly as they were set (while I slept in the middle of the night, and the blockchain forked.... DAMN IT!) And they are evolving it. They have been responsive to requests, and every email I've sent has been answered. The risk I see is of course hacking and/or the founders both die at the same time in a flaming plane crash or something  That happens and there's no way to get your coins with their security measures. But that's a good thing so long as nothing tragic happens. They are confirming every withdrawal manually. So far so good. Lenders, jump in. Test the waters. |
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