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

[deisik]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

[1715153047]

1715153047

[1715153047]

1715153047

[1715153047]

1715153047

[Sukrim]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

They can send and receive non-fiat currencies and seem to still have a lot of people with heaps of fiat currency on their platform for now...

[mayax]

then, how they can have a such volume? of course, it is a FAKE volume like many others.   they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

[Quickseller]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

Actually your claims are baseless.

You are also clearly a troll backed by one of their competitors.

[deisik]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

I'm trading through their API's

So I can easily calculate what their real trading volumes are. I don't really think you are going to write anything here again, but if you do you will have to come up with something actually backing up your claims. As you likely know, extraordinary claims require extraordinary evidence. Personally, I wouldn't be able to withdraw fiat anyway, so it is all six of one and half a dozen of the other to me. Anyway, if I wanted to get cash, I would buy litecoins and withdraw them to an exchange where I can sell them for fiat. And most likely, I would even earn something since I'm in no hurry and can wait till the price moves in favorable direction

[mayax]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

Actually your claims are baseless.

You are also clearly a troll backed by one of their competitors.

chill !   I am saying the facts. if you read my posts, I say the same things about other exchangers as well (Kraken, BTC-e, Poloniex, Bitfinex and many others); that they are running illegal business not being financial licenses.

so, cut the crap that I am a troll. Bitfinex do not accept and send fiat. it's a fact. my question is : how can they have a such volume? yes, the Willy bot is at work...this is the answer

[Quickseller]

then, how they can have a such volume? of course, it is a FAKE volume like many others.    they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

Actually your claims are baseless.

You are also clearly a troll backed by one of their competitors.

chill !   I am saying the facts. if you read my posts, I say the same things about other exchangers as well (Kraken, BTC-e, Poloniex, Bitfinex and many others); that they are running illegal business not being financial licenses.

No, you don't.

so, cut the crap that I am a troll.

yes you are. 

how can they have a such volume? yes, the Willy bot is at work...this is the answer

they have many customers who trade large volumes. There is high volatility. The fact that you are referencing a 'willy bot' is further evidence that you are a troll.

[zzert1234]

How to judge their stability/ liquidity ? It is just that bit easier to operate an exchange without withdraws, especially if you can't cover all withdraws. That is my scare. But if I can double the investment quickly ... might be worth. I just do not want to burn again like with Mtgox.

Poloniex and Bitfinex both have fiat  withdraw delays or not processing all together.

On Bitfinex is from few months. No one is panicking and hopefully no reason to. I am just researching using these exchanges ... and want to know more about them. Why people are not bothered by this situation ?

I am gonna go trough this thread... but go one tell me please why we are not concerned.




https://www.bitfinex.com/posts/201

[deisik]

Poloniex and Bitfinex both have withdraw delays or not processing all together

Where did you get this info?

Just a few days ago, I tried to withdraw a few litecoins, and the withdrawal was processed pretty fast (within a few minutes). Indeed, I don't know what my mileage would have been if I had tried to withdraw a few thousand litecoins (or bitcoins), but if there were numerous issues with withdrawals at Bitfinex (obviously, apart from fiat withdrawals which are disabled right now), there would be a lot of noise across the forum (and in this thread specifically). Other than that, I agree with you that withdrawal issues are a telling sign of possible problems in the future. It was the same with Cryptsy, and it had been constant delays with withdrawing even tiny amounts that finally made me abandon this exchange for good. That turned out to be a wise decision in the end

[mayax]

then, how they can have a such volume? of course, it is a FAKE volume like many others.   they have no bank accounts, they cannot receive and send money.

an exchanger without bank accounts, it's a dead exchanger.

Bitfinex doesn't look like a dead exchange

And it doesn't look that it is going to die any time soon either. At first, Bitcoin traded there at a premium of roughly 150 dollars (when cash deposits as well as withdrawals had been suspended), but then prices leveled out eventually, and right now the exchange has basically the same prices as any other major exchange out there. Aside from that, fiat withdrawals are still possible (if I'm not mistaken), though it requires opening a support ticket, and they are processed on a case by case basis. Somehow, I don't see a lot of people running away from this exchange

fiat withdrawals and deposits are not possible for "everybody".
obvious, they have fake volumes(as usual).  why would you choose an exchanger without fiat deposit and fiat withdrawals when there others without any problem?

Actually your claims are baseless.

You are also clearly a troll backed by one of their competitors.

chill !  I am saying the facts. if you read my posts, I say the same things about other exchangers as well (Kraken, BTC-e, Poloniex, Bitfinex and many others); that they are running illegal business not being financial licenses.

No, you don't.

so, cut the crap that I am a troll.

yes you are.  

how can they have a such volume? yes, the Willy bot is at work...this is the answer

they have many customers who trade large volumes. There is high volatility. The fact that you are referencing a 'willy bot' is further evidence that you are a troll.

it seems that you are either an ignorant, a brainwashed or a shill   if after so many years, you come and say that there is no Willy bot on the market and that the exchangers are "clean".... it's without comments

ALL the big exchangers are using the bot(Willy) in order to fake the trading volumes. The volumes are not real ( see the chinesse exchanges, BTC-e, Bitfinex, Poloniex and many others). It's not only me who is saying and knowing that, kid

[Sukrim]

ALL the big exchangers are using the bot(Willy) in order to fake the trading volumes. The volumes are not real ( see the chinesse exchanges, BTC-e, Bitfinex, Poloniex and many others). It's not only me who is saying and knowing that, kid

Yet you use an account name on MtGox as "proof" that something is wrong. Where is your acutal proof? If it's not only you, which other credible sources are claiming this and what's their concrete evidence?

[zzert1234]

Poloniex and Bitfinex both have withdraw delays or not processing all together

Where did you get this info?

Just a few days ago, I tried to withdraw a few litecoins, and the withdrawal was processed pretty fast (within a few minutes). Indeed, I don't know what my mileage would have been if I had tried to withdraw a few thousand litecoins (or bitcoins), but if there were numerous issues with withdrawals at Bitfinex (obviously, apart from fiat withdrawals which are disabled right now), there would be a lot of noise across the forum (and in this thread specifically). Other than that, I agree with you that withdrawal issues are a telling sign of possible problems in the future. It was the same with Cryptsy, and it had been constant delays with withdrawing even tiny amounts that finally made me abandon this exchange for good. That turned out to be a wise decision in the end

Yes I meant fiat withdraws not processing.

[mayax]

ALL the big exchangers are using the bot(Willy) in order to fake the trading volumes. The volumes are not real ( see the chinesse exchanges, BTC-e, Bitfinex, Poloniex and many others). It's not only me who is saying and knowing that, kid

Yet you use an account name on MtGox as "proof" that something is wrong. Where is your acutal proof? If it's not only you, which other credible sources are claiming this and what's their concrete evidence?

do you want me to "audit" their shit fake volume? it's something of common sense.

the Chinese exchanges didn't accept deposits for months. they had BIG volumes. Now, Bitfinex do not have any bank account and they have big volumes. It is a NON SENSE

you must be blind if don't see that... what's so hard to admit that BTC market is an unregulated shit and almost all the exchangers are doing what they want(for their own benefit)?

even, Bobby Lee, CEO of BTCC, has also stated that his competitors, Okcoin and Huobi, are known for inflating trading volumes artificially, a market manipulation technique called "wash trading."  

you may read these:

http://www.bitcoinfuturesguide.com/bitcoin-blog/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume

http://www.coindesk.com/real-volumes-revealed-bitcoin-reacting-new-age-trading-fees/

http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/

[deisik]

Poloniex and Bitfinex both have withdraw delays or not processing all together

Where did you get this info?

Just a few days ago, I tried to withdraw a few litecoins, and the withdrawal was processed pretty fast (within a few minutes). Indeed, I don't know what my mileage would have been if I had tried to withdraw a few thousand litecoins (or bitcoins), but if there were numerous issues with withdrawals at Bitfinex (obviously, apart from fiat withdrawals which are disabled right now), there would be a lot of noise across the forum (and in this thread specifically). Other than that, I agree with you that withdrawal issues are a telling sign of possible problems in the future. It was the same with Cryptsy, and it had been constant delays with withdrawing even tiny amounts that finally made me abandon this exchange for good. That turned out to be a wise decision in the end

Yes I meant fiat withdraws not processing

So what's the problem?

You convert fiat to some crypto (Litecoin seems to be the best in this department) and withdraw the proceeds to an exchange when you do the process in reverse and withdraw fiat if you really need that (you will lose dust at worst, and in fact may even earn something in the process). But as I tried to explain it to some dude here (he turned out to be a pathetic troll in the end), people are not interested in fiat, at least, as long as an exchange (in this case Bitfinex) is not going to scam. They use both fiat and crypto as vehicles for speculation and lending, and they are not interested in parking their capital in bank accounts where they won't earn anything (or enough just to outpace inflation)

[Wassupia]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

I also noticed some 2 day loan offers @0.75% being taken while there's plenty below that rate.

source:https://www.bitfinex.com/funding/history/usd ,
example: ID 9319520:
22-07-17 03:37:50   0.749998   30   28,535.18138908$

[deisik]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

Are you sure of that?

I'm regularly lending out my funds (though the US dollar mostly), and I don't remember I saw it the way you describe it. Could you post a snapshot? Most likely, you are confusing another thing. That is, when you lend out for 30 days, you are kind of stuck, and you can't demand the borrower to return the funds before the end of the whole term, while the borrower can return the money any time he sees appropriate. In this way, if you expect the loans to surge further, you'd be better off if you lend the money at a lower interest but for a shorter term. There can also be a case when what you see is not what happens in reality. Which is to say, all loan offers are taken up to higher rates but you only see the highest rates shown, and then the offer book gets instantly refilled

[Wassupia]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

Are you sure of that?

I'm regularly lending out my funds (though the US dollar mostly), and I don't remember I saw it the way you describe it. Could you post a snapshot? Most likely, you are confusing another thing. That is, when you lend out for 30 days, you are kind of stuck, and you can't demand the borrower to return the funds before the end of the whole term, while the borrower can return the money any time he sees appropriate. In this way, if you expect the loans to surge further, you'd be better off if you lend the money at a lower interest but for a shorter term. There can also be a case when what you see is not what happens in reality. Which is to say, all loan offers are taken up to higher rates but you only see the highest rates shown, and then the offer book gets instantly refilled

I've been lending out for years, I'd have to have been hallucinating to be this wrong.
Sometimes auto-renew loans are being ignored, according to some people I spoke to; this might be related.

Support responded that a fix was put in place.
My educated guess would be that the loan matching engine has a bug which causes it to enter a faulty state, and they solved it either by restarting or effectively fixing the bug.
My bet would be on the first, or maybe patching and code review proces is lightning fast.

[deisik]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

Are you sure of that?

I'm regularly lending out my funds (though the US dollar mostly), and I don't remember I saw it the way you describe it. Could you post a snapshot? Most likely, you are confusing another thing. That is, when you lend out for 30 days, you are kind of stuck, and you can't demand the borrower to return the funds before the end of the whole term, while the borrower can return the money any time he sees appropriate. In this way, if you expect the loans to surge further, you'd be better off if you lend the money at a lower interest but for a shorter term. There can also be a case when what you see is not what happens in reality. Which is to say, all loan offers are taken up to higher rates but you only see the highest rates shown, and then the offer book gets instantly refilled

I've been lending out for years, I'd have to have been hallucinating to be this wrong.
Sometimes auto-renew loans are being ignored, according to some people I spoke to; this might be related.

Support responded that a fix was put in place.
My educated guess would be that the loan matching engine has a bug which causes it to enter a faulty state, and they solved it either by restarting or effectively fixing the bug.
My bet would be on the first, or maybe patching and code review proces is lightning fast

Well, I have another idea

Strictly speaking, I didn't notice anything strange but maybe it is particularly because I didn't find it strange at all. You seem to implicitly assume that loan offers should be matched as they are in regular trading orderbooks but should they? For example, if we place a sell order which is at a higher price than the lowest Ask price in the book, we expect our order to be executed against the orders with lowest prices first (which is kind of logical). But is it or should it be the same for loans?

[Quickseller]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

Are you sure of that?

I'm regularly lending out my funds (though the US dollar mostly), and I don't remember I saw it the way you describe it. Could you post a snapshot? Most likely, you are confusing another thing. That is, when you lend out for 30 days, you are kind of stuck, and you can't demand the borrower to return the funds before the end of the whole term, while the borrower can return the money any time he sees appropriate. In this way, if you expect the loans to surge further, you'd be better off if you lend the money at a lower interest but for a shorter term. There can also be a case when what you see is not what happens in reality. Which is to say, all loan offers are taken up to higher rates but you only see the highest rates shown, and then the offer book gets instantly refilled

I've been lending out for years, I'd have to have been hallucinating to be this wrong.
Sometimes auto-renew loans are being ignored, according to some people I spoke to; this might be related.

Support responded that a fix was put in place.
My educated guess would be that the loan matching engine has a bug which causes it to enter a faulty state, and they solved it either by restarting or effectively fixing the bug.
My bet would be on the first, or maybe patching and code review proces is lightning fast

Well, I have another idea

Strictly speaking, I didn't notice anything strange but maybe it is particularly because I didn't find it strange at all. You seem to implicitly assume that loan offers should be matched as they are in regular trading orderbooks but should they? For example, if we place a sell order which is at a higher price than the lowest Ask price in the book, we expect our order to be executed against the orders with lowest prices first (which is kind of logical). But is it or should it be the same for loans?

I understand that bitfinex works this way on the account level. However I believe that at least at one point, if you offered USD for 30 days at .01% per day and there were sufficient USD bids to fill that offer at .05% per day, there will be a lending trade reported at .01% but both accounts will reflect.05%.

[deisik]

What's up with the USD loan matching?

I've been monitoring the usd loan matching for a few hours.
There's a 40k @ 0.14, 30 day loan offer, and plenty around that rate also for 30days. (specifically 30 days, not '2-30days' mixed offers)
But somehow, hundreds of thousands USD worth of 30 day loan offers @0.75% (per day!) are matched instead of those at lower rates!

Are you sure of that?

I'm regularly lending out my funds (though the US dollar mostly), and I don't remember I saw it the way you describe it. Could you post a snapshot? Most likely, you are confusing another thing. That is, when you lend out for 30 days, you are kind of stuck, and you can't demand the borrower to return the funds before the end of the whole term, while the borrower can return the money any time he sees appropriate. In this way, if you expect the loans to surge further, you'd be better off if you lend the money at a lower interest but for a shorter term. There can also be a case when what you see is not what happens in reality. Which is to say, all loan offers are taken up to higher rates but you only see the highest rates shown, and then the offer book gets instantly refilled

I've been lending out for years, I'd have to have been hallucinating to be this wrong.
Sometimes auto-renew loans are being ignored, according to some people I spoke to; this might be related.

Support responded that a fix was put in place.
My educated guess would be that the loan matching engine has a bug which causes it to enter a faulty state, and they solved it either by restarting or effectively fixing the bug.
My bet would be on the first, or maybe patching and code review proces is lightning fast

Well, I have another idea

Strictly speaking, I didn't notice anything strange but maybe it is particularly because I didn't find it strange at all. You seem to implicitly assume that loan offers should be matched as they are in regular trading orderbooks but should they? For example, if we place a sell order which is at a higher price than the lowest Ask price in the book, we expect our order to be executed against the orders with lowest prices first (which is kind of logical). But is it or should it be the same for loans?

I understand that bitfinex works this way on the account level. However I believe that at least at one point, if you offered USD for 30 days at .01% per day and there were sufficient USD bids to fill that offer at .05% per day, there will be a lending trade reported at .01% but both accounts will reflect.05%.

In other words, we shouldn't believe what is shown in the Market Funding History?

While in Your Funding History there will be entirely correct entries? On the other hand, if you offered your dollars at a lower interest and there are bids which are higher than that (i.e. people want to pay more than you ask), why would you get higher rate and not those people lower interest (i.e. your rate). This is a tricky question, and it might not work in the same way as regular trading orderbooks work. It might be a bug or an intended feature