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

[Mythoughts]

There might be a bug somewhere.

After counting down to 0, the negative numbers get displayed as positive in the UI. It's a known issue but only affects display.

Now we just have to find out why there can be negative numbers for more than half an hour.
Shouldnt there be a check for that, like:  if(expiration < 0) return swap;

[noggin-scratcher]

only affects display.

Well... the negative numbers appearing as positive is only a display bug, the more salient point of negative "time remaining" being possible in the first place is at least a minor bug.

I guess they're only able to be expired when some scheduled check is run - same as the delay on re-offering funds with auto-renew.

Exactly as this guy said:

Shouldnt there be a check for that, like:  if(expiration < 0) return swap;

Except it seems that the server is just a little tardy when it has quite so many swaps to run that check across.

[Sukrim]

Last info I had on this is that at random (about 1 hour) intervals swaps are retuned by a batch job.

Also keep in mind that recently daylight saving time started in a few countries, it might be the case that this somehow caused a 1h offset somewhere.

[noggin-scratcher]

I did notice a little weirdness with the UK switching forward an hour (GMT to GMT+1) - I tried to account for the change in my records by subtracting an hour from the duration of each swap that crossed the point of the change, but the resulting prediction for how much of a swap payment I was due at 1:30 (local time when the payment was made, 00:30 GMT) was more accurate if I didn't subtract that hour, as if there had actually been an extra hour's duration in that day when the clocks changed.

[SebastianJu]

Man... that gave me thinking... i tried to send some coins from bitfinex to pay someone. I sent and... cancelled. My bitcoins landed in trading account. And it claims not enough funds in trading account. But when i checked Manage Wallets all looked fine. I though maybe its a fee and raised it. Nothing. Maybe from another account, no. Until i went into trading account and saw, that for some reason there is a -0.01 USD. And i already thought i wont get my coins out anymore... happened probably too often. 

So please... could you negotiate on one calculation for the same numbers? Thanks!

[DoubleSwapper]

So why again does BFX allow people to tunnel through the FRR and take offers behind it? Where is the logic in this manipulative bullshit? We have over 1.6 M (now over 1.7 actually) in swap offers on FRR which represents the majority of available money on the book.
Instead of having an increase in FRR because of a high demand we have an FRR that is glued to 0.1x with random batches of 6 figure sums tunneling through to sky high rates at unpredictable times. This is bullshit.

Am I allowed to buy bitcoins at 800 to pump the price? No? Then why is this allowed?



Is this what a proper orderbook looks like?

[Sukrim]

People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.

[DoubleSwapper]

People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.

FRR has spiked? lol. It went from 0.02 to 0.1 Sry, but that is the same crap that was said last time when I posted about this issue. How it could potentially be clever to reserve at 0.7 (who the fuck believes this?) because FRR would run out... Of course it didn't, there is still plenty and it's still at 0.1 when the spikes regularly go to 0.7 and beyond. When was the last time FRR was over 0.2? Ages ago and exactly because shit like this is allowed. If these guys want to take out six figure offers force them to take from FRR or calculate FRR dynamically but fix it once the offer is put on the book. What's happening is seriously ridiculous and absolutely in line with all the bullshit that has happened on the swap market before.

Instead of having a liquid market that reacts dynamically to increasing supply and demand (low demand it's at 0.02-0.05, high demand it goes to maybe 0.3) we always get shit like this just because fucking BFX is too stupid to remove the fucking FRR. I'm so fed up with this shit.

[SebastianJu]

People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.

FRR has spiked? lol. It went from 0.02 to 0.1 Sry, but that is the same crap that was said last time when I posted about this issue. How it could potentially be clever to reserve at 0.7 (who the fuck believes this?) because FRR would run out... Of course it didn't, there is still plenty and it's still at 0.1 when the spikes regularly go to 0.7 and beyond. When was the last time FRR was over 0.2? Ages ago and exactly because shit like this is allowed. If these guys want to take out six figure offers force them to take from FRR or calculate FRR dynamically but fix it once the offer is put on the book. What's happening is seriously ridiculous and absolutely in line with all the bullshit that has happened on the swap market before.

Instead of having a liquid market that reacts dynamically to increasing supply and demand (low demand it's at 0.02-0.05, high demand it goes to maybe 0.3) we always get shit like this just because fucking BFX is too stupid to remove the fucking FRR. I'm so fed up with this shit.

I dont have a problem with FRR. Swaps on FRR are still only people that dont want to manually put in their loan offers. FRR doesnt push the price forward or backwards. Its the peoples money on there and their money would be elsewhere in the orderbook without FRR. So taking it out only would lead to offers done manually. It wouldnt help you to make great swap deals i think.

But what do you write about taking offers behind FRR? Is that happening or not? It shouldnt be possible if FRR is there. So were offers taken that were behind FRR?

I noticed that somethings not correct with FRR too. I mean it sometimes shows up on the left side of orderbook with values that dont match or dont make sense to show up there. I wonder if FRR is calculated in a buggy way. But i surely would like to have given some swaps at 0.6% per day for 30 days... oO

[DoubleSwapper]

People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.

FRR has spiked? lol. It went from 0.02 to 0.1 Sry, but that is the same crap that was said last time when I posted about this issue. How it could potentially be clever to reserve at 0.7 (who the fuck believes this?) because FRR would run out... Of course it didn't, there is still plenty and it's still at 0.1 when the spikes regularly go to 0.7 and beyond. When was the last time FRR was over 0.2? Ages ago and exactly because shit like this is allowed. If these guys want to take out six figure offers force them to take from FRR or calculate FRR dynamically but fix it once the offer is put on the book. What's happening is seriously ridiculous and absolutely in line with all the bullshit that has happened on the swap market before.

Instead of having a liquid market that reacts dynamically to increasing supply and demand (low demand it's at 0.02-0.05, high demand it goes to maybe 0.3) we always get shit like this just because fucking BFX is too stupid to remove the fucking FRR. I'm so fed up with this shit.

I dont have a problem with FRR. Swaps on FRR are still only people that dont want to manually put in their loan offers. FRR doesnt push the price forward or backwards. Its the peoples money on there and their money would be elsewhere in the orderbook without FRR. So taking it out only would lead to offers done manually. It wouldnt help you to make great swap deals i think.

But what do you write about taking offers behind FRR? Is that happening or not? It shouldnt be possible if FRR is there. So were offers taken that were behind FRR?

I noticed that somethings not correct with FRR too. I mean it sometimes shows up on the left side of orderbook with values that dont match or dont make sense to show up there. I wonder if FRR is calculated in a buggy way. But i surely would like to have given some swaps at 0.6% per day for 30 days... oO

Of course it happens as I have shown with the screenshot. It's happening right now and nobody cares. You can also look it up on bfxdata. Seemingly because suddenly people (god knows why, it never happened before 1.5 months ago) order large amounts of money (6 figures+ multiple times) and don't include "variable" rate" to be taken which cleans the order book behind the FRR but leaves it intact. Tunneling like that should not be possible, it messes up the order book, ruins any predictability and further kills liquidity.

[SebastianJu]

Of course it happens as I have shown with the screenshot. It's happening right now and nobody cares. You can also look it up on bfxdata. Seemingly because suddenly people (god knows why, it never happened before 1.5 months ago) order large amounts of money (6 figures+ multiple times) and don't include "variable" rate" to be taken which cleans the order book behind the FRR but leaves it intact. Tunneling like that should not be possible, it messes up the order book, ruins any predictability and further kills liquidity.

I checked bfxdata but they only have a volume weighted graph. But even this shows rates of 0.22. Impossible with FFR before it. So either FRR wall vanished because of some bug for some time or the FRR rate was calculated wrong for a moment. Maybe FRR showed up on the wrong side of orderbook only.

I dont understand what you mean with tunneling. Either FRR is eaten up by 6 figues + or not. But i dont see how it could get tunneled normally.

[Sukrim]

People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.

FRR has spiked? lol. It went from 0.02 to 0.1

I said historically, I use Bitfinex probably a lot longer than you do.

On one hand people complain about FRR and then again you complain now that FRR is not forced onto people (it is a VERY risky thing to hold FRR loans!) or that some traders rather prefer a fixed rate loan...

By the way (as someone who has already lent out money at Bitfinex at rates far beyond 1%/day historically): Even if you manage to get a 0.6%/day 30d loan out there, don't expect it to last any substantial amount of time.

[SebastianJu]

By the way (as someone who has already lent out money at Bitfinex at rates far beyond 1%/day historically): Even if you manage to get a 0.6%/day 30d loan out there, don't expect it to last any substantial amount of time.

Too bad, i really thought it might be worth to check out if its worth to wait for these things happen. I mean normal traders most probably dont check the swap rates they got when margin trade.

I guess the best thing is still to relatively fast get your money lent out for 2 days for a rate before FRR-Wall.

[bearproof]

Today I experienced some strange behaviour with Bitfinex web site, screen went blank everytime a page was requested, I logued out, and logued in again after about 30 mins, and all started working ok again.
Then I went to account security / logins history and found two successfull login from an IP that it was not me, IP was from another country.
I think nothing was stolen from my account because I have two factor authentication, but I'm worried about this.
Anyone experiences something similar?, ofc I already changed my account password, but I should have some device compromised or this is some bug at Bitfinex    the password was impossible to guess btw...

[noggin-scratcher]

I dont understand what you mean with tunneling. Either FRR is eaten up by 6 figues + or not. But i dont see how it could get tunneled normally.

When taking  a swap you can choose whether you want your demand to be matched with variable-rate swap offers or not. Which makes sense as a feature to have, because "FRR, currently 0.1%" isn't necessarily better than, say, a fixed-rate swap at 0.11%, if you expect the going rate to rise. But when someone specifies a demand for a massive amount of swap with "Don't take variable-rate swaps" checked, they can sweep out all the fixed-rate offers up to 0.75% without touching the FRR wall at all.

Possible motivation for doing so... I guess it could be an attempt to push up the flash rate. If so, it is at least a "gentler" way of moving the going rate than the old game of "It grinds slowly down for months until at 0.02% the whole FRR wall goes at once, and then the going rate jumps dramatically up to 0.75% until the wall is rebuilt"

By the way (as someone who has already lent out money at Bitfinex at rates far beyond 1%/day historically): Even if you manage to get a 0.6%/day 30d loan out there, don't expect it to last any substantial amount of time.

Mostly very true - they don't last long. But if you happen to have funds repaid at the right moment it can still be worth trying to catch the spikes. I've had the rare/occasional swap last a lot longer than expected at a high rate (at least one that's still going after 2 weeks). My guess is that they're small enough quantities that the high rate passes unnoticed because the total fee remains low.

[SebastianJu]

Today I experienced some strange behaviour with Bitfinex web site, screen went blank everytime a page was requested, I logued out, and logued in again after about 30 mins, and all started working ok again.
Then I went to account security / logins history and found two successfull login from an IP that it was not me, IP was from another country.
I think nothing was stolen from my account because I have two factor authentication, but I'm worried about this.
Anyone experiences something similar?, ofc I already changed my account password, but I should have some device compromised or this is some bug at Bitfinex     the password was impossible to guess btw...

Yes, i have a similar behaviour. Im logged in but when i click a link i get a blank page. Reloading again i have to relogin. And when i did so then it start again after i clicked the first link inside.

This worries me. I hope its not that my account is safe because of 2FA but others arent. If enough other accounts were hacked successfully then my funds would be missing too. I really hope everything is fine.

Staff?

Edit: And yes i see IPs logged in that werent mine? GUYS?

Now i see that i logged in 18:29 with my correct ip and ten minutes later with a different one. Though im still logged in. I run MarginBot so i thought it might be that but its different IPs and my server has a fixed one that doesnt show up as far as i see.

I hope all is well but if something strange is going on i would suggest make sure funds are safe.

[SebastianJu]

I dont understand what you mean with tunneling. Either FRR is eaten up by 6 figues + or not. But i dont see how it could get tunneled normally.

When taking  a swap you can choose whether you want your demand to be matched with variable-rate swap offers or not. Which makes sense as a feature to have, because "FRR, currently 0.1%" isn't necessarily better than, say, a fixed-rate swap at 0.11%, if you expect the going rate to rise. But when someone specifies a demand for a massive amount of swap with "Don't take variable-rate swaps" checked, they can sweep out all the fixed-rate offers up to 0.75% without touching the FRR wall at all.

Possible motivation for doing so... I guess it could be an attempt to push up the flash rate. If so, it is at least a "gentler" way of moving the going rate than the old game of "It grinds slowly down for months until at 0.02% the whole FRR wall goes at once, and then the going rate jumps dramatically up to 0.75% until the wall is rebuilt"

By the way (as someone who has already lent out money at Bitfinex at rates far beyond 1%/day historically): Even if you manage to get a 0.6%/day 30d loan out there, don't expect it to last any substantial amount of time.

Mostly very true - they don't last long. But if you happen to have funds repaid at the right moment it can still be worth trying to catch the spikes. I've had the rare/occasional swap last a lot longer than expected at a high rate (at least one that's still going after 2 weeks). My guess is that they're small enough quantities that the high rate passes unnoticed because the total fee remains low.

Im not sure that this option means that you dont want FRR swaps. For me it means that you want to take swaps at FRR price and i think that FRR for receive swap is another percent value since it wouldnt make sense otherwise. So one would create an FRR at the FRR for actively given swaps on the green side. So probably something way below the 0.11%. It really would be strange if its another way. But when i think about it. Im sure it isnt that way. Most users dont even have this option checked i think and still the FRR wall is eaten a bit often.

Might be wrong though. Staff?

Edit: Oh, and yes... i think most users dont care about the rate of swaps they automatically took. Its simply mostly in the same area.

[bearproof]

Yes, i have a similar behaviour. Im logged in but when i click a link i get a blank page. Reloading again i have to relogin. And when i did so then it start again after i clicked the first link inside.

This worries me. I hope its not that my account is safe because of 2FA but others arent. If enough other accounts were hacked successfully then my funds would be missing too. I really hope everything is fine.

Staff?

Edit: And yes i see IPs logged in that werent mine? GUYS?

Now i see that i logged in 18:29 with my correct ip and ten minutes later with a different one. Though im still logged in. I run MarginBot so i thought it might be that but its different IPs and my server has a fixed one that doesnt show up as far as i see.

I hope all is well but if something strange is going on i would suggest make sure funds are safe.

Ok you experienced exactly the same as me, by any chance the IP you see on logins history is "198.143.41.97" ? I already opened a ticket with them by emailing support, hope this is a bug on their system and this is not hackers... I will post some news if I figure out simething else...

[SebastianJu]

Yes, i have a similar behaviour. Im logged in but when i click a link i get a blank page. Reloading again i have to relogin. And when i did so then it start again after i clicked the first link inside.

This worries me. I hope its not that my account is safe because of 2FA but others arent. If enough other accounts were hacked successfully then my funds would be missing too. I really hope everything is fine.

Staff?

Edit: And yes i see IPs logged in that werent mine? GUYS?

Now i see that i logged in 18:29 with my correct ip and ten minutes later with a different one. Though im still logged in. I run MarginBot so i thought it might be that but its different IPs and my server has a fixed one that doesnt show up as far as i see.

I hope all is well but if something strange is going on i would suggest make sure funds are safe.

Ok you experienced exactly the same as me, by any chance the IP you see on logins history is "198.143.41.97" ? I already opened a ticket with them by emailing support, hope this is a bug on their system and this is not hackers... I will post some news if I figure out simething else...

Its not that ip but others i dont know. I think its a good guess that a hacker is using tornodes or other proxies. So i think the ips would be different all the time.

But it stopped now. I dont know why. Did bitfinex act or the hacker wasnt successful. Anyway... seeing these logs saying these ip successfully logged in doesnt make me feel safe.

Though when i see my past logs i see that there are many different ips. My provider gives me a semi non dynamic IP, so for long times i should have the same ip. And if it changes it should be in the same ip area. So im wondering what these ips mean.

Maybe im worried too much but i think being worried because of such thing is smart since there are enough exchanges that died already.

[camolist]

Yes, i have a similar behaviour. Im logged in but when i click a link i get a blank page. Reloading again i have to relogin. And when i did so then it start again after i clicked the first link inside.

This worries me. I hope its not that my account is safe because of 2FA but others arent. If enough other accounts were hacked successfully then my funds would be missing too. I really hope everything is fine.

Staff?

Edit: And yes i see IPs logged in that werent mine? GUYS?

Now i see that i logged in 18:29 with my correct ip and ten minutes later with a different one. Though im still logged in. I run MarginBot so i thought it might be that but its different IPs and my server has a fixed one that doesnt show up as far as i see.

I hope all is well but if something strange is going on i would suggest make sure funds are safe.

Ok you experienced exactly the same as me, by any chance the IP you see on logins history is "198.143.41.97" ? I already opened a ticket with them by emailing support, hope this is a bug on their system and this is not hackers... I will post some news if I figure out simething else...

simple email to support would answer this

"The IP address belongs to Incapsula, which is our DDoS protection service.

As Incapsula acts as a proxy for Bitfinex, it means that we have to be relying on extra information from your connection to "guess" the IP address. If for some reasons the network you used or the browser you used did not forward any of that information, the Incapsula IP can appear in lieu of your real IP.

I fully understand your concern. You experienced the affects of a DDoS attempt, though very annoying, no real bug. "