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

[Rannasha]

With Bitfinex you can even profit from falling prices leveraged

Don't you need to take BTC in that case, to short them, instead of USD? Isn't taking USD for buying bitcoins (going long)?

Yes.

Interest-rate can be used as a (noisy) indication of market sentiment. High USD interest rates indicate high demand (and/or low supply) of USD, so can be taken as a bullish sign. Conversely high BTC interest rates can be taken as a bearish sign.

[superbit]

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days.  Should this not be changed too?

[nmersulypnem]

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days.  Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

[Sukrim]

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days.  Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

[Ente]

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days.  Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

Great idea! Win-win!

Ente

[nmersulypnem]

How come the lending is limited to 30 days, but you can still set the auto-lend for terms longer than 30 days.  Should this not be changed too?

The other improvement needed is the ability of the lender to push back the expiration of the USD/BTC provided.

You mean like you have some funds lent out with 2 days expire date, then you decide that you don't need the funds for another 10 days and would like to allow the borrower to have the money for longer?

Great idea! Win-win!

Ente

It's actually win-win-win because it increases liquidity in the market overall.

[Sukrim]

Well, then the optimal strategy would be to only lend for 1 day each and then extend as long as you are above FRR. Still borrowers might again prefer longer term stability (which is why I lend out my funds for nearly always 30 days, except in cases where the rate is really low) and still look for longer loans...

[EABEAB]

Overall, I find this fee raise a total scandal and I am immediately switching over to an exchange with lower fees and the same great set of of features and supperb service since that's easy to find... in a dream or something.

It is better to pay a slightly higher fee to a trusted exchange and not have to worry about the owner run away with your money than use an exchange with lower fee and have to constantly worry about getting scammed.


Beside, I do not think there is any exchange out there with this level of service out there with lower fee. If you come across an exchange with the same level of caliber, please kindly inform us so we can use it too.

He was kidding, he was not being serious, did you not see his last words, "in a dream or something".

We all know that BitFinex is the BEST, now if everyone else will just come to that realization !, some day maybe.

[nmersulypnem]

Can someone explain how the flash return rate works on lending?  

1. If I buy on margin, does my margin get taken at the lowest offer, or from the "flash rate" offer?

2. If all funds at the flash rate get exhausted do margin buys execute automatically at the next higher rates, or does the "flash rate" increase to the next highest offer (regardless of expiry).

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

[TalkingBit]

Can someone explain how the flash return rate works on lending?  

1. If I buy on margin, does my margin get taken at the lowest offer, or from the "flash rate" offer?

2. If all funds at the flash rate get exhausted do margin buys execute automatically at the next higher rates, or does the "flash rate" increase to the next highest offer (regardless of expiry).

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

x2

Also, what happened to autorelend button? Is it coming back?

[Spaceman_Spiff]

Can someone explain how the flash return rate works on lending?  

1. If I buy on margin, does my margin get taken at the lowest offer, or from the "flash rate" offer?

2. If all funds at the flash rate get exhausted do margin buys execute automatically at the next higher rates, or does the "flash rate" increase to the next highest offer (regardless of expiry).

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

1. I believe this is from the lowest offer

2. next higher rates

3. I have never done any flash rate "borrowing" (or "liquidity taking" in the new terminology), but it seems logical to me that expiry matters (you are always taking liquidity from a liquidity provider, who may want to use his money after a certain time), but rates do not.  If you specifically want to take the flash rate, I think you manually need to take the liquidity on the liquidity swaps page.

[nmersulypnem]

...
If that's the flash return rate than flash is taken. If there are lending offers below flash return rate then those are taken.
 

Cool, so essentially the tag "flash rate" on the lending screen is just for reference and doesn't effect the matching algo.  

Thanks oyvinds!

BTW, couple feature requests (where can I request these?)...
1. Give lenders the ability to extend time on a loan so it doesn't expire.
2. The option to set the auto-renew +/- the current flash-rate (rather than now where it's just exactly the flash rate).
3. A history tab for swap opens/closes/credits (current history only includes opens and daily total credit).

[TalkingBit]

3. If I lend at the flash rate I'm assuming any expiry or rate I enter into those fields are ignored, correct?

If you lend flash then expiry or "Period (in days)" is honored. The "Rate (% per day)" field is ignored.

I must be missing something. How does one lend at the flash rate? Can't see anything under Liquidity swaps/Offer liquidity???

[TalkingBit]

I must be missing something. How does one lend at the flash rate? Can't see anything under Liquidity swaps/Offer liquidity???

Click the secret gray "Options" tab below where you enter the stuff.

HOWTO with screenshots: http://bfxwiki.everdot.org/HOWTO_lend_at_Flash_Return_Rate

It's a button!?! between that and the performance summary button i feel like i'm on a easter egg hunt. Thnx

[mostar]

Hello,

I'm having a problem using some of the API commands like "/order/new".  Most of the commands I check work fine.

https://api.bitfinex.com/v1/order/new not return valid respond when I'm using my key/secret for post new order.

You can see the problem even without user key/secret or posting the right parameters.

For example when you try to access:

https://api.bitfinex.com/v1/order/status

the return message is:
{"message":"X-BFX-APIKEY header was not sent."}

Which is reasonable.

But when you try to access:

https://api.bitfinex.com/v1/order/new

You receive the message:

"The page you were looking for doesn't exist."



Please assist

[Timetwister]

I have deposited BTC. The deposit has already been confirmed by email. And the balance appears at "trading", instead of deposit or exchange. When I try to sell that balance, I get "Invalid order:not enough balance". What is going on?

[Sukrim]

Balance on trading: Used on "margin trade" tab.
Balance on exchange: Used on "exchange" tab.
Balance on deposit: Used on "whateverlendingiscalled" tab.

[Timetwister]

Balance on trading: Used on "margind trade" tab.
Balance on exchange: Used on "exchange" tab.
Balance on deposit: Used on "whateverlendingiscalled" tab.

Thank you, I have just found how to manage wallets.

[Timetwister]

So I have offered liquidity by just accepting one of the USD Liquidity demand offers. But it hasn't been filled automatically, but some minutes later. Why isn't it automatic?

[Sukrim]

It is automatic but the matching engine seems to run only every few minutes. I would recommend to post your own offers and just wait for takers by the way, for comparison my FRR offers get taken all the time after a short time and return 20% more than what you will get per day.