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Author Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading  (Read 723558 times)
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August 27, 2015, 11:31:45 AM
 #5901

MTGOX 2.0 in the making??

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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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August 27, 2015, 12:38:53 PM
Last edit: September 09, 2015, 01:14:41 AM by abercrombie
 #5902

New bank notification today:

CTBC BANK Co., Ltd.
5F, No. 17, Sec 1, Cheng De Rd., Taipei City 103, Taiwan
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August 28, 2015, 08:20:58 AM
 #5903

MTGOX 2.0 in the making??

Looks like. I tried a withdrawal 2 times now. Both got canceled after 12 hours. No mail from support.  Huh

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August 28, 2015, 08:28:12 AM
 #5904

MTGOX 2.0 in the making??

Looks like. I tried a withdrawal 2 times now. Both got canceled after 12 hours. No mail from support.  Huh

(Apologies for what may be a silly question - I only have a "deposit wallet" at Bitfinex).

Are you currently able to transfer funds between wallets? I've been able to make withdrawals (~1 BTC) from my deposit wallet (the swaps wallet), so I imagine (a) the problem is with their trading engine, and that affects users' trading wallets (and possibly exchange wallets too?), and (b) if you can transfer funds to your deposit wallet you might be able to get around the problem.

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August 28, 2015, 08:39:22 AM
 #5905

MTGOX 2.0 in the making??

Looks like. I tried a withdrawal 2 times now. Both got canceled after 12 hours. No mail from support.  Huh

(Apologies for what may be a silly question - I only have a "deposit wallet" at Bitfinex).

Are you currently able to transfer funds between wallets? I've been able to make withdrawals (~1 BTC) from my deposit wallet (the swaps wallet), so I imagine (a) the problem is with their trading engine, and that affects users' trading wallets (and possibly exchange wallets too?), and (b) if you can transfer funds to your deposit wallet you might be able to get around the problem.


Moving coins between Exchange, Deposit and Trading wallet is no problem.

I tried to withdrawal a lower amount now and wrote an email to support. Maybe they can help and fix it

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August 28, 2015, 09:01:48 AM
 #5906


Moving coins between Exchange, Deposit and Trading wallet is no problem.

I tried to withdrawal a lower amount now and wrote an email to support. Maybe they can help and fix it

No luck with a lower withdrawal from the deposit wallet? That sucks Sad Best of luck with support - I hope they respond positively (blimey, it says something that we regard support responding as a positive outcome... I hope finex realise they're haemorrhaging confidence).

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August 28, 2015, 10:19:40 AM
 #5907


Moving coins between Exchange, Deposit and Trading wallet is no problem.

I tried to withdrawal a lower amount now and wrote an email to support. Maybe they can help and fix it

No luck with a lower withdrawal from the deposit wallet? That sucks Sad Best of luck with support - I hope they respond positively (blimey, it says something that we regard support responding as a positive outcome... I hope finex realise they're haemorrhaging confidence).

Support helped. I was logged in with another IP (at work) and had to confirm also with clicking the confirmation link. Had to change my mail adress. Support said that @safe-mail.net accounts can not receive that link. Smiley

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August 28, 2015, 11:50:22 AM
 #5908

Support helped. I was logged in with another IP (at work) and had to confirm also with clicking the confirmation link. Had to change my mail adress. Support said that @safe-mail.net accounts can not receive that link. Smiley

That's great news - I'm pleased it's resolved for you. Makes sense, I had wondered whether it might be a two-factor authentication issue, but I never got as far as wondering about alternative IPs!

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August 30, 2015, 06:53:12 PM
 #5909

Could you please add withdrawals to Revolut? (https://revolut.com/) Pretty please?
This way we could ditch banks altogether.
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September 04, 2015, 09:36:01 AM
 #5910

What's going on with USD rates? They are so low now. I wouldn't lend at these rates.
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September 04, 2015, 10:40:54 AM
 #5911

What's going on with USD rates? They are so low now. I wouldn't lend at these rates.

https://bfxdata.com/swaphistory/usd

Second chart shows the average rate and the sum total of active swaps. If you zoom it out to ~1 month scale you'll see that in mid-August the total dropped abruptly from $32M to its current level of $24M and the going rate has been on a slow decline ever since because there's spare funds chasing scarce returns in a race to the bottom.

Not that the sum/rate correlation is ever that strong. Seems to be more a link from the rate of change in the sum to the going rate - not enough for funds to just be taken up, they have to be taken up quickly to move the rate up (presumably because otherwise the increased demand is just absorbed by the ever-present wall of spare funds offered at FRR).

Bitfinex referral code: uOaxAuXdVX
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September 05, 2015, 09:47:27 AM
 #5912

I beleive this has a lot to do with dropping USD rates:

https://i.imgur.com/Ob2bh7n.png?1

Bitfinex used to be way above the rest when it comes to volume, however after the recent 'events' a lot of BTCUSD volume has moved to other exchanges.
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September 05, 2015, 09:48:32 AM
 #5913

I beleive this has a lot to do with dropping USD rates:



Bitfinex used to be way above the rest when it comes to volume, however after the recent 'events' a lot of BTCUSD volume has moved to other exchanges.

What site is that?

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September 05, 2015, 09:53:17 AM
 #5914

Forgot to add link: http://coinmarketcap.com/exchanges/volume/24-hour/
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September 07, 2015, 01:51:53 PM
 #5915

USD demand sum : 0.5M USD
USD offer sum : 3M USD

bitfinex 7days trading volume is half of bitstamp.
USD FRR now 0.025%.
no one need bitfinex margin trade.
bitfinex had  ended.
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September 07, 2015, 03:17:06 PM
 #5916

USD demand sum : 0.5M USD
USD offer sum : 3M USD

bitfinex 7days trading volume is half of bitstamp.
USD FRR now 0.025%.
no one need bitfinex margin trade.
bitfinex had  ended.

Given that at Bitstamp trading fees are 0.2% while at Bitfinex they are only 0.1% (twice as less), it is a little too early to declare the end of Bitfinex...

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September 07, 2015, 05:08:56 PM
 #5917

USD demand sum : 0.5M USD
USD offer sum : 3M USD

bitfinex 7days trading volume is half of bitstamp.
USD FRR now 0.025%.
no one need bitfinex margin trade.
bitfinex had  ended.


It seems that exchanges go through different stages of gathering and losing customers right now.  Very surprised kraken didnt pick up a few more customers.  I'd expect to see bitfinex back on top at some point, bitstamp dont even trade LTC.
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September 07, 2015, 05:16:48 PM
 #5918

USD demand sum : 0.5M USD
USD offer sum : 3M USD

bitfinex 7days trading volume is half of bitstamp.
USD FRR now 0.025%.
no one need bitfinex margin trade.
bitfinex had  ended.


It seems that exchanges go through different stages of gathering and losing customers right now.  Very surprised kraken didnt pick up a few more customers.  I'd expect to see bitfinex back on top at some point, bitstamp dont even trade LTC.

Agreed, I expect to see them at the top again. The ecosystem created by them (exchange, margin trading, liquidity providing) is very powerful and will draw people back again. However, they will need to 'inspire confidence' in their lost customers since I think a loss of confidence (as well as an ill timed fee change) was what drove many customers away. In the interim, dropping fees could be a nice incentive to get people back.

My 0.02c anyways.
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September 07, 2015, 05:30:00 PM
 #5919

Bitstamps volume is heavily skewed this month due to the fact that they are running a 0 % trading fee promotion for
a big part of their customers  Wink
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September 08, 2015, 12:14:43 AM
 #5920

USD demand sum : 0.5M USD
USD offer sum : 3M USD

bitfinex 7days trading volume is half of bitstamp.
USD FRR now 0.025%.
no one need bitfinex margin trade.
bitfinex had  ended.

Given that at Bitstamp trading fees are 0.2% while at Bitfinex they are only 0.1% (twice as less), it is a little too early to declare the end of Bitfinex...

Maybe paying a little bit extra in fees is the price of not having to contend with incompetence and dishonour. Don't do business with Bitfinex even if they're paying you to trade on their platform. We should encourage the other exchanges to add margin trading instead.
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