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dreamspark
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March 04, 2015, 07:53:47 PM |
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I am so going down, when bitcoin went up from $233 to $257 last to last week I made quite some profit closing my long position and then I did a huge mistake to think that $255 was the highest and I expected it to go down from here was fool enough to put everything in it, opened short position on $250, since then I saw few ups and down and at one point it even went down to $242 but I didn't close the position, became greedy  . And now here I am looking at over $500 loss on my short position although I am happy that bitcoin is rising (don't get me wrong fellas) but I know I ain't having any fun. So, the question is how long I can hold on to this short position because I still don't want to loose hope of bitcoin going down from here but my worry is what if Bitfinex decided to close my position because I hold them for long? is that possible, I didn't bought these swaps myself, I let system choose best offer for me, are they for 30 days or there is no limit ? Once your swaps run out new ones will be opened automatically. The only time the platform closes your position is if you reach the liquidation price and get margin called. |
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venomdog
Newbie
 Offline
Activity: 28
Merit: 0
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March 04, 2015, 08:22:26 PM |
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I am so going down, when bitcoin went up from $233 to $257 last to last week I made quite some profit closing my long position and then I did a huge mistake to think that $255 was the highest and I expected it to go down from here was fool enough to put everything in it, opened short position on $250, since then I saw few ups and down and at one point it even went down to $242 but I didn't close the position, became greedy . And now here I am looking at over $500 loss on my short position although I am happy that bitcoin is rising (don't get me wrong fellas) but I know I ain't having any fun. So, the question is how long I can hold on to this short position because I still don't want to loose hope of bitcoin going down from here but my worry is what if Bitfinex decided to close my position because I hold them for long? is that possible, I didn't bought these swaps myself, I let system choose best offer for me, are they for 30 days or there is no limit ? Once your swaps run out new ones will be opened automatically. The only time the platform closes your position is if you reach the liquidation price and get margin called. Thanks mate for confirmation, I thought the same. Cheers. |
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noggin-scratcher
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March 05, 2015, 02:02:10 AM |
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I am so going down, when bitcoin went up from $233 to $257 last to last week I made quite some profit closing my long position and then I did a huge mistake to think that $255 was the highest and I expected it to go down from here was fool enough to put everything in it, opened short position on $250, since then I saw few ups and down and at one point it even went down to $242 but I didn't close the position, became greedy . And now here I am looking at over $500 loss on my short position although I am happy that bitcoin is rising (don't get me wrong fellas) but I know I ain't having any fun. So, the question is how long I can hold on to this short position because I still don't want to loose hope of bitcoin going down from here but my worry is what if Bitfinex decided to close my position because I hold them for long? is that possible, I didn't bought these swaps myself, I let system choose best offer for me, are they for 30 days or there is no limit ? There's no time limit on how long a position can stay open, only a limit on how much of a loss you can build up before you're liquidated to pay off what you owe to your swap providers. That's listed in the interface as a "Liquidation Price". If/when your swaps expire, more will be taken automatically at the best rate available. Or if you happen to see particularly low-rate ones before then, you can take new swaps manually and close the old ones. (Edit) Appears I was beaten to it. |
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venomdog
Newbie
Offline
Activity: 28
Merit: 0
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March 05, 2015, 07:00:39 PM |
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I am so going down, when bitcoin went up from $233 to $257 last to last week I made quite some profit closing my long position and then I did a huge mistake to think that $255 was the highest and I expected it to go down from here was fool enough to put everything in it, opened short position on $250, since then I saw few ups and down and at one point it even went down to $242 but I didn't close the position, became greedy . And now here I am looking at over $500 loss on my short position although I am happy that bitcoin is rising (don't get me wrong fellas) but I know I ain't having any fun. So, the question is how long I can hold on to this short position because I still don't want to loose hope of bitcoin going down from here but my worry is what if Bitfinex decided to close my position because I hold them for long? is that possible, I didn't bought these swaps myself, I let system choose best offer for me, are they for 30 days or there is no limit ? There's no time limit on how long a position can stay open, only a limit on how much of a loss you can build up before you're liquidated to pay off what you owe to your swap providers. That's listed in the interface as a "Liquidation Price". If/when your swaps expire, more will be taken automatically at the best rate available. Or if you happen to see particularly low-rate ones before then, you can take new swaps manually and close the old ones. (Edit) Appears I was beaten to it. How can I see what rate I got ? |
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noggin-scratcher
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March 06, 2015, 01:24:46 PM |
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How can I see what rate I got ?
Click across to https://www.bitfinex.com/credit (the "Total Return Swaps" tab on the main page of 'finex) Click on "Swaps used in a margin position" and/or "Unused swaps" to expand the drop-down lists, and in there you'll see the details of any swaps you have open - how much, at what rate, and when it expires. |
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Alexis
Member
Offline
Activity: 80
Merit: 10
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March 07, 2015, 10:39:45 AM |
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From the Deposit section, look at the "Unused Swaps" and "Swaps used in a position".  |
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bricky
Newbie
Offline
Activity: 25
Merit: 0
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March 09, 2015, 02:33:41 PM |
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Has anyone successfully used the (undocumented) websockets api for, well, anything? Would really appreciate some pointers from anyone who uses it. (I posted a thread here about it last week, but I guess this thread is more likely to get noticed) |
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picobit
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March 09, 2015, 07:22:37 PM |
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Has anyone successfully used the (undocumented) websockets api for, well, anything? Would really appreciate some pointers from anyone who uses it. (I posted a thread here about it last week, but I guess this thread is more likely to get noticed) A documented websockets api would be wonderful! Even if the documentation is minimal, at least that would give a basis for experimentation. |
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Sukrim
Legendary
Offline
Activity: 2618
Merit: 1006
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March 10, 2015, 12:16:09 AM |
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I suspect that this is just the stuff that is displayed in the UI normally...
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camolist
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March 10, 2015, 07:50:36 PM |
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"Error code 20
The proxy failed to connect to the web server, due to TCP connection timeout."
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mjr
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March 10, 2015, 08:54:19 PM |
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Hey guys, brief update, we have made a bunch of progress on integrating Alphapoint, and are on the last legs of testing. We are still getting a couple errors, which are being fixed, but it is very close!
In general, we are able to correctly handle all but a couple hundred (in total, not by type) of the total user actions in a given day, so this is probably around .1% of the total actions that users would do, but it is those edge cases which typically take the longest to identify and fix. Should have more news for you soon, and once this is done, we can start to really roll out new features, as well as be able to handle much more volume, much more quickly.
There is really not a lot of other news to report, things have been quiet but I am personally excited that it seems the prices are starting to go up. I wanted to thank all of you guys who help out those who have questions about how parts of Bitfinex work, we are working on an updated FAQ/knowledge base which would serve as a one stop shop for answers. Right now, a lot of the questions are answered on our site, but I understand it might not be easy to find. So that is something else that is in the works.
Other than that, I hope everyone has been well. I am going to get back to working on Alphapoint stuff, but I try to check in once a day and see if there is anything major going on.
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mjr
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March 10, 2015, 08:59:35 PM |
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Has anyone successfully used the (undocumented) websockets api for, well, anything? Would really appreciate some pointers from anyone who uses it. (I posted a thread here about it last week, but I guess this thread is more likely to get noticed) A documented websockets api would be wonderful! Even if the documentation is minimal, at least that would give a basis for experimentation. Yes, we don't support a websockets API currently, although we use websockets on parts of the website. We will, however, offer a fully supported (which would include documentation) websockets (and FIX) API once the alphapoint integration is done. This upgrade is really the key to a ton of new products and features, as well as the benefit of better performance. |
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noggin-scratcher
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March 11, 2015, 02:58:06 PM |
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@mjr: while you're here, a minor gripe - I turn on all of the notifications I can find for my swaps (offer taken, swap reduced/repaid, anything moves I always want to know about it). But with autorenew it's possible for a swap to be offered, taken, and then closed all without a single notification being generated, because when you're setting up auto-renew it doesn't pay attention to the "Notify when offer is taken" checkbox.
What's worse, is that it's also possible for a swap with the "offer taken" notification enabled to be taken, but not have that automatically enable the "swap repaid" notification as would normally happen when a swap is taken - if it becomes an 'unused' swap then that notification isn't automatically set, and even if you manually enable it, when it becomes a 'used' swap the notification is turned off again.
I had some money I thought was earning a return (because I checked my email and saw "offer taken" and no "credit closed", but actually it had been taken as unused and closed 2 minutes later. Nothing major, but an annoyance; I have no interest in whether a swap is used or not, to be honest I'm not sure why that's even known to me, so it'd be best if oddities from that distinction didn't mess with my flow. Would be nice to have some more global notifications settings in the account settings, like exists for deposits arriving and withdrawals completing.
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Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
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March 11, 2015, 03:16:25 PM |
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Wow, I just checked the SWAP rates and they spiked really nicely. This might indicate some burst out. Looking forward to it!
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noggin-scratcher
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March 12, 2015, 11:24:16 AM
Last edit: March 12, 2015, 11:56:49 AM by noggin-scratcher |
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Was a fun 48 hours in swap-land, but now the FRR appears to have re-asserted itself and rebuilt the wall.
Still hopeful that there might be another spike, but I feel like the default assumption now (going by past form) is that the rate is going to rapidly decay back towards the prior lows. Or at least some low-point to asymptotically trend towards.
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Alexis
Member
Offline
Activity: 80
Merit: 10
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March 12, 2015, 05:11:59 PM |
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Was a fun 48 hours in swap-land, but now the FRR appears to have re-asserted itself and rebuilt the wall.
Still hopeful that there might be another spike, but I feel like the default assumption now (going by past form) is that the rate is going to rapidly decay back towards the prior lows. Or at least some low-point to asymptotically trend towards.
USD swaps have been fun, shame BTC swaps are so low though. |
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Alexis
Member
Offline
Activity: 80
Merit: 10
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March 12, 2015, 05:15:32 PM |
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Does anyone know why the Bitfinex facebook page is so inactive? https://www.facebook.com/bitfinexLast post was in June 2014. Is it not an official page? Location is set to Lyon, France which is quite odd, considering Bitfinex is in Hong Kong. |
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Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
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March 12, 2015, 06:48:43 PM |
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Does anyone know why the Bitfinex facebook page is so inactive? https://www.facebook.com/bitfinexLast post was in June 2014. Is it not an official page? Location is set to Lyon, France which is quite odd, considering Bitfinex is in Hong Kong. I read that they don't do social media at all. That is why you won't find any links from them on the website. |
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Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
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March 12, 2015, 06:49:27 PM |
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Was a fun 48 hours in swap-land, but now the FRR appears to have re-asserted itself and rebuilt the wall.
Still hopeful that there might be another spike, but I feel like the default assumption now (going by past form) is that the rate is going to rapidly decay back towards the prior lows. Or at least some low-point to asymptotically trend towards.
USD swaps have been fun, shame BTC swaps are so low though. BTC rates only spike in a very drastic downturn. Even then the rates are only high for a few days until people stock up their accounts and provide BTC swaps. |
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Mythoughts
Member
Offline
Activity: 63
Merit: 14
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March 13, 2015, 06:47:11 AM |
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Small idea for some fairness improvement?
Currently, there's a pretty big "asymmetry of power" between a lender and a swap user: once the swap has been taken, there's nothing a lender can do. But the taker can return it anytime of his choosing. Tough to plan for re-lending funds as a lender. The intention fo lending funds for 30 days (to not have much managing to do) does not work in reality because of that. No FRR can fix that, most FRR swaps never get lent out, unless there's big swap demand increasement, like in the last days.
Also at the moment, even if returned immediately, at least the first hour of interest of a swap has to be paid.
How about charging the first 1/48th of the time period at the time of the swap taking instead of just the first hour? That would make exactly no difference for 2 day swaps. But it encourages not to use 30 days as default for swap users who dont plan to use it anywhere near that time frame anyways.
This might increase convenience.
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