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

[helluvaname]

Bitfinex, please, do something! Watching this price drop makes me very nervous!

[itod]

Save your Google Auth codes when you set up 2FA, it is only a question of time before your phone breaks.  If you did not do it, disable 2FA now and reenable it right after, this gives you a second chance to save the key.

Couldn't you please describe how can I do that, assuming I have full access to my account? What codes are you talking about?

It's impossible to do it now. That's the nature of Google Auth, you have a chance to save the code only immediately when it is created, to prevent anyone from getting your codes while incidentally get hold of your phone for a short period of time, for instance while you are not watching. Procedure to get the code is to disable 2FA on a site, get new authentication token for that site and then log the code. There's also a possibility to get maximum 10 recovery tokens on Google site, I'm not quite sure how it works since I was never in situation to use those recovery tokens.

[blueparrot]

another user had a similar problem years ago and Bitfinex removed 2FA from his
account after a 2 or 3 week "cool-off" period.

Think they will act similar in your case. Maybe you can speed up the process by signing a message
with your last BTC deposit address or similar.

[helluvaname]

My issue was resolved by Bitfinex. Well, with the help of user urwhatuknow in particular.
Thank you!

[helluvaname]

Save your Google Auth codes when you set up 2FA, it is only a question of time before your phone breaks.  If you did not do it, disable 2FA now and reenable it right after, this gives you a second chance to save the key.

Couldn't you please describe how can I do that, assuming I have full access to my account? What codes are you talking about?

It's impossible to do it now. That's the nature of Google Auth, you have a chance to save the code only immediately when it is created, to prevent anyone from getting your codes while incidentally get hold of your phone for a short period of time, for instance while you are not watching. Procedure to get the code is to disable 2FA on a site, get new authentication token for that site and then log the code. There's also a possibility to get maximum 10 recovery tokens on Google site, I'm not quite sure how it works since I was never in situation to use those recovery tokens.

What do you mean by logging the code? On bitfinex 2fa settings page I can see a QR code and an "Accont token(key)" which is a string. Do you mean that I can for example print this page, and when I loose my phone next time I will download a google authenticator app on my new phone, feed it with the QR code that I printed and It will work as the old one?

[gabbello]

What do you mean by logging the code? On bitfinex 2fa settings page I can see a QR code and an "Accont token(key)" which is a string. Do you mean that I can for example print this page, and when I loose my phone next time I will download a google authenticator app on my new phone, feed it with the QR code that I printed and It will work as the old one?

Yes, it will work. That is the secret key that you set intro your phone in order to be able to generate the keys you use to login.

[noggin-scratcher]

What do you mean by logging the code? On bitfinex 2fa settings page I can see a QR code and an "Accont token(key)" which is a string. Do you mean that I can for example print this page, and when I loose my phone next time I will download a google authenticator app on my new phone, feed it with the QR code that I printed and It will work as the old one?

A QR code is just a blob of data in a convenient barcode form. Your phone stores that data somewhere and uses it as a seed value (some manner of hashing operation applied to the seed and the current time produces the 6 digit code), while the server holds onto the same data to independently generate the code so that it can check them.

tl;dr : yes, the QR code remains "good" forever, and can be printed on paper or stored in a screenshot (and then encrypted) for later re-use if your phone dies.

It is possible to access the memory where it's stored on your phone, to take a backup after the fact, but it involves rooting your phone and it's generally easier to just disable 2FA then re-enable it to take a copy of the new QR code.

[noggin-scratcher]

Hey I'm new at finex and have a noob question ana beeing to lazy to read the whole thread.

How can I make a stop loss in margin trading? Example: When I open a long with 2BTC at $265 and want that it close auto at $260 to cover my losses. what have I to do? Open a short order with the same amount there? Which order type I shoud use?

sry my english is not so good  

"Stop" is one of the order types in the dropdown menu. After you open your long you would enter a Stop Sell for the same amount as your long (or for less if you only want it to partially close, or for more if you want to automatically flip into a short when the Stop is triggered).

You can use the Stop order type even if you don't already have a position open - the meaning of it is "When the price reaches this trigger value, immediately do a market order", so you can use it to open a position as well as close one.

[Ente]

[..]user urwhatuknow in particular.
Thank you!

Ah, I miss the old times when G was on community support duty :-)

Ente

[Hfleer]

My issue was resolved by Bitfinex. Well, with the help of user urwhatuknow in particular.
Thank you!

"user" is a bit missleading, as he is the CEO (?) or founder.

[Sukrim]

My issue was resolved by Bitfinex. Well, with the help of user urwhatuknow in particular.
Thank you!

"user" is a bit missleading, as he is the CEO (?) or founder.

Neither... but yes, he's working for Bitfinex.

[helluvaname]

My issue was resolved by Bitfinex. Well, with the help of user urwhatuknow in particular.
Thank you!

"user" is a bit missleading, as he is the CEO (?) or founder.

He is a user of bitcointalk anyway, and, all in all, you don't need to know who the man is to thank him.

[Palantir]

I have a suggestion regarding the swaps.

The issue: Borrowers mostly want 30 days, while many lenders prefer to lend shorter periods. Since the orderbook is shared, sometimes the bid/ask spread looks ...interesting.

A solution: Enable swaps trading. So, the same account could both borrow and lend, and would pay fees according to his net position. This would fix the spread, as it would become profitable to borrow short term (at a lower rate), and lend those very same funds for 30 days (at a higher rate). In this way, the swaps themselves would become a tradeable commodity. In the present situation they are only half way tradeable; you either borrow or lend, not both. Bitfinex would naturally need to ensure those swap term-arbitrageurs could cover their potential losses (i.e. the net position needs to be in proportion to the account's funds).

Bitfinex would benefit from the increased volume; short-term lenders would find a borrower quicker (while getting a better rate); long-term borrowers would find a lender quicker (getting a better rate, too). In general, the swaps market would work more smoothly.

Sorry if this idea has been presented before by someone else. I do not have time to read all those 278 pages.

[Sukrim]

It has been suggested multiple times, it won't really solve any problem imho and only clear the order books faster, leading to higher churn/turnover.

[Palantir]

... only clear the order books faster, leading to higher churn/turnover.

The way I see it, that is an improvement. Also the short term rates would go up, and 30 day rates down.

[Sukrim]

It just increases uncertainty which leads to even more people choosing FRR (if you don't know the proper price point, choose the average of existing prices).

Then again, maybe I'm wrong alltogether? I'd much rather see the new matching engine in prodiction though than being able to forward cheaper loans or get out earlier from existing ones.

[SebastianJu]

What happens when one offers a swap and its taken, then the loan is paid back earlier than the said timeframe... will the swap still run as if that didnt happen so that i dont notice that or would i need to offer those coins as a swap again?

I mean swaps run automatically for margin trading so i was wondering if there is automation too or if i should enable the notification so that i know when a number of my swaps ended earlier.

By the way... whats the story with swaps offered for half of the normal orderbook rate?

[Sukrim]

What happens when one offers a swap and its taken, then the loan is paid back earlier than the said timeframe... will the swap still run as if that didnt happen so that i dont notice that or would i need to offer those coins as a swap again?

The latter, that's why bots/autorenew/notifications come in handy.

By the way... whats the story with swaps offered for half of the normal orderbook rate?

Probably people with autorenew at fixed rates who are on holiday or so? It is up to every actor to choose how much return they actually want and also how much they are willing to pay... If you only want to earn 3%/year, you can do that too, even though it might be smarter to check first if someone offers to pay you more.

[SebastianJu]

What happens when one offers a swap and its taken, then the loan is paid back earlier than the said timeframe... will the swap still run as if that didnt happen so that i dont notice that or would i need to offer those coins as a swap again?

The latter, that's why bots/autorenew/notifications come in handy.

By the way... whats the story with swaps offered for half of the normal orderbook rate?

Probably people with autorenew at fixed rates who are on holiday or so? It is up to every actor to choose how much return they actually want and also how much they are willing to pay... If you only want to earn 3%/year, you can do that too, even though it might be smarter to check first if someone offers to pay you more.

Thanks sukrim. I noticed that bitfinex now only has one decimal anymore on orderbook. Does that mean that further decimals are rounded completely or that they are shown rounded only? Wondering if a offer at a certain price will be eaten or if other bidders could use a slightly different decimal in order to get before my offer, without me seeing it.

[TwinWinNerD]

What happens when one offers a swap and its taken, then the loan is paid back earlier than the said timeframe... will the swap still run as if that didnt happen so that i dont notice that or would i need to offer those coins as a swap again?

The latter, that's why bots/autorenew/notifications come in handy.

By the way... whats the story with swaps offered for half of the normal orderbook rate?

Probably people with autorenew at fixed rates who are on holiday or so? It is up to every actor to choose how much return they actually want and also how much they are willing to pay... If you only want to earn 3%/year, you can do that too, even though it might be smarter to check first if someone offers to pay you more.

Thanks sukrim. I noticed that bitfinex now only has one decimal anymore on orderbook. Does that mean that further decimals are rounded completely or that they are shown rounded only? Wondering if a offer at a certain price will be eaten or if other bidders could use a slightly different decimal in order to get before my offer, without me seeing it.

There is a +/- located above the order book where you can zoom in/out