Spaceman_Spiff
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Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
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December 09, 2013, 11:25:33 AM |
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It seems like lending offers can still be created with longer than 30 days duration? At least those still show up on the list.. Not possible to actually claim them with a >30day period though, as expected.
Ente
those are autorenew, new lending offers are capped |
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No Gods or Kings. Only Bitcoin
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arbitrage001
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Activity: 1067
Merit: 1000
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December 09, 2013, 01:01:58 PM |
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There is a bug on the lending page. My new offer is taken out at "flash rate" rather than the rate I specified.
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sangaman
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December 09, 2013, 02:56:29 PM |
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Can we have the option to still use rates in terms of percent per 365 days? I prefer it that way. It's just a matter of displaying data differently so I don't think it should be too much trouble to let your users choose which they prefer. I don't mind having %/day as the default though.
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Sukrim
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Activity: 2618
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December 09, 2013, 03:24:39 PM |
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Might even be doable with Greasemonkey etc., "%/day" * 365 = previous values.
Is there still going to be a cap to "protect" borrowers that is set to 1%/day by default? BTCUSD increased by 18(!!!)% today for example... lenders got only a small part of that in interests.
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traderman
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Activity: 1260
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December 09, 2013, 04:22:09 PM |
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The per day percentages are much better and much easier to estimate. Good job!
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nmtrader100
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Activity: 51
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December 09, 2013, 07:23:41 PM |
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It seems to me that only the top 40 or so lend offers are shown on the grid. So if my auto-renew loan is set for 365 days @ .90%, and there are 40 other 2-day loans at less than .90%, then my offer won't even show up on the grid and thus will not be taken. Can someone confirm that this is how it works?
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nmtrader100
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Activity: 51
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December 09, 2013, 07:43:34 PM |
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Can someone tell me these new rules? Auto-renew can be set for 365 days but now regular lending is limited to 30 days?
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arbitrage001
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Activity: 1067
Merit: 1000
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December 09, 2013, 07:48:14 PM |
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Changing too many things at one time is bad.
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MegaKill
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Activity: 93
Merit: 10
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December 10, 2013, 12:25:35 AM |
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There is a bug on the lending page. My new offer is taken out at "flash rate" rather than the rate I specified.
My guess is that, you lend at rate you specified, but you also activated the auto-lend feature at the same time. So the rate follow auto-lend rate. I have experienced this before. After I deactivated auto-lend, the rate back to the specified rate. Hope I can help. |
Cross Exchanges Arbitrage(SPOT) & Spread(Perpetual Futures) Trader
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rioshoosh
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Activity: 19
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December 10, 2013, 02:30:42 AM |
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Giancarlo,
I have been using Bitfinex for a while and finally decided to register on the forum today to let you guys know that you have been doing a great job with it.
There are still some things that need polishing but, overall, well done!
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Spaceman_Spiff
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Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
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December 10, 2013, 02:33:13 AM |
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Giancarlo,
I have been using Bitfinex for a while and finally decided to register on the forum today to let you guys know that you have been doing a great job with it.
There are still some things that need polishing but, overall, well done!
somebody made a nice amount of money...  |
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btcperth
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Activity: 23
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December 10, 2013, 04:48:26 AM |
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Really liking using Bitfinex, great job.
I've got a question about exchange buy orders.
Example :-
1 - Deposit 1 btc into my account and move it to the exchange wallet.
2 - Sell all at market and end up with, for example, USD 900.
3 - Wait for 1 day, then buy all at market when the btc price has gone down to USD 850.
Why can't I spend the entire USD 900 amount that's in my exchange wallet?
Because it gave a warning at step 3 and said not enough margin.
Can I only spend (USD900 - 10% = USD 810)?
Note I'm not doing a margin trade here, just an straight buy at market exchange order.
Sorry if this has been answered before, just a bit confused by this.
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rioshoosh
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Activity: 19
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December 10, 2013, 05:09:01 AM |
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2 - Sell all at market and end up with, for example, USD 900.
3 - Wait for 1 day, then buy all at market when the btc price has gone down to USD 850.
Why can't I spend the entire USD 900 amount that's in my exchange wallet?
Because it gave a warning at step 3 and said not enough margin.
Can I only spend (USD900 - 10% = USD 810)?
Note I'm not doing a margin trade here, just an straight buy at market exchange order.
Minor: You can't spend the entire $900 on coins because you also need to have enough funds to cover the transaction fees. Major: You must specify the quantity of coins that you are buying. You can't put a "give me as many coins as I can get for $900" order; you have to specify that you want 1.04 coins. |
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Indamuck
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December 10, 2013, 05:51:10 AM |
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I like Bitfinex a lot, but miffed at what looks like a blatant rip off, dishonest dealing, as follows:
I opened an account, designated a 'trader' account, with US$5k, and proceeded to buy BTC and LTC in the amount of around US$5200.
Now any reasonable person would think that my margin loan requirement was only US$200 ... but I find that Bitfinex automatically finances all positions in a 'Trader' wallet ... I ended up paying near 1%/day for US$5.2k loans that I didn't even need. Their software is automatically set up to do this.
Even when I re-designate my account as 'Exchange' and sell some of my position, there is no way to move my existing positions from the 'Trader' wallet to the 'Exchange' wallet, I'm stuck watching their software continue to fund this fully-funded position with usurious loans.
That is not sloppy programming, poor webdesign, or some casual oversight. It is a pretty crummy way to conduct business. Bitfinex gonna make some money off of unwitting and/or inattentive traders this way ... likely funding these loans directly ... shame.
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vokain
Legendary
Offline
Activity: 1834
Merit: 1019
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December 10, 2013, 06:10:27 AM |
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I like Bitfinex a lot, but miffed at what looks like a blatant rip off, dishonest dealing, as follows:
I opened an account, designated a 'trader' account, with US$5k, and proceeded to buy BTC and LTC in the amount of around US$5200.
Now any reasonable person would think that my margin loan requirement was only US$200 ... but I find that Bitfinex automatically finances all positions in a 'Trader' wallet ... I ended up paying near 1%/day for US$5.2k loans that I didn't even need. Their software is automatically set up to do this.
Even when I re-designate my account as 'Exchange' and sell some of my position, there is no way to move my existing positions from the 'Trader' wallet to the 'Exchange' wallet, I'm stuck watching their software continue to fund this fully-funded position with usurious loans.
That is not sloppy programming, poor webdesign, or some casual oversight. It is a pretty crummy way to conduct business. Bitfinex gonna make some money off of unwitting and/or inattentive traders this way ... likely funding these loans directly ... shame.
You must use the exchange wallet, not the trading wallet for your purchase. The trading wallet is purely for margin trading. What you would then do is transfer the bitcoins to your trading wallet and then take a $200 loan. https://bitfinex.com/pages/howitworksI actually love their system and admire how it was conceived. |
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Indamuck
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December 10, 2013, 06:43:01 AM |
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You must use the exchange wallet, not the trading wallet for your purchase. The trading wallet is purely for margin trading. What you would then do is transfer the bitcoins to your trading wallet and then take a $200 loan. https://bitfinex.com/pages/howitworksI actually love their system and admire how it was conceived. At minimum I should be able to move my position from the Margin wallet to the Exchange wallet. Currently I 'm locking into financing a position I don't need financing for. That is a sloppy site design and a crock of sh*t no matter how you slice it. |
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vokain
Legendary
Offline
Activity: 1834
Merit: 1019
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December 10, 2013, 06:50:24 AM |
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No, at minimum you should be able to move the coins which you would own from buying on the exchange to move them to your margin trading wallet. NOT the other way around.
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Indamuck
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December 10, 2013, 07:01:46 AM |
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No, at minimum you should be able to move the coins which you would own from buying on the exchange to move them to your margin trading wallet. NOT the other way around.
$3200 in my Trading wallet $1950 LTC position in said Trading wallet No other positions Software is forcing a $1791 margin loan at 0.63% per day into my portfolio. I don't need a f*ckin loan, for anything. Where is the rocket science? |
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Indamuck
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December 10, 2013, 07:05:37 AM |
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Site design is pretty on the eyes, but sh*tty ... needlessly convoluted and obtuse ...
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vokain
Legendary
Offline
Activity: 1834
Merit: 1019
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December 10, 2013, 07:44:20 AM |
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No, at minimum you should be able to move the coins which you would own from buying on the exchange to move them to your margin trading wallet. NOT the other way around.
$3200 in my Trading wallet $1950 LTC position in said Trading wallet No other positions Software is forcing a $1791 margin loan at 0.63% per day into my portfolio. I don't need a f*ckin loan, for anything. Where is the rocket science? Oh the irony. Look, when money is in your trading wallet, the current dollar value of every asset in the MARGIN TRADING WALLET is used to leverage any new positions. If you transferred initially your $5000 to the EXCHANGE wallet, bought $5k of Bitcoins there, moved it to your TRADING WALLET, you'd only need to borrow $200 to establish your $5200 worth of bitcoin position. |
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