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

[bearproof]

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. "

camolist you got that answer from support? it is very confusing and lacks of technical detail, there is nothing to "guess" about a source IP address, every connection comes with a source IP address and nothing need to be forwarded...
This is the first time happening to me in about a year, and if ppl start seeing successfull logins history from FOREIGN IP addresses this is absolutely normal to start worrying and flooding email support with questions.

[noggin-scratcher]

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.

I'm having real trouble figuring out what you mean here. For example, "one would create an FRR at the FRR for actively given swaps on the green side" is not a phrase that I'm able to parse.

I'm looking at the Margin Trade page, where there's a dropdown section titled "Margin available", which... doesn't seem to be entirely accurate, but attempts to say how much money is available for swaps. There's a checkbox labelled "Include variable rates?". I'm assuming that with that box ticked, FRR-swaps are included in the margin available for you to take from, and that with it unticked you'll instead only take swaps from fixed-rate offers.

[SebastianJu]

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.

I'm having real trouble figuring out what you mean here. For example, "one would create an FRR at the FRR for actively given swaps on the green side" is not a phrase that I'm able to parse.

I'm looking at the Margin Trade page, where there's a dropdown section titled "Margin available", which... doesn't seem to be entirely accurate, but attempts to say how much money is available for swaps. There's a checkbox labelled "Include variable rates?". I'm assuming that with that box ticked, FRR-swaps are included in the margin available for you to take from, and that with it unticked you'll instead only take swaps from fixed-rate offers.

Sorry for that.

I meant that there has to be two FRR rates. One for receive swap, one for offer swap. It sounded like you thought the option to use FRR rates for receive swap means that, when disabled, and chosing a rate that is higher than FRR on the swap offers orderbook, that you can clear this orderbook without taking the FRR-rate swaps.

But i see now what you mean. With include variable rates? one can circumvent the FRR-wall.

I dont see a reason for that option existing. In fact its unfair to those offering at FRR. Why give them an disadvantage against normal orders? Is there a reason that explains this?

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. "

camolist you got that answer from support? it is very confusing and lacks of technical detail, there is nothing to "guess" about a source IP address, every connection comes with a source IP address and nothing need to be forwarded...
This is the first time happening to me in about a year, and if ppl start seeing successfull logins history from FOREIGN IP addresses this is absolutely normal to start worrying and flooding email support with questions.

I wonder too what that answer means. I mean i always use the same browser. Its not possible that from this ip a ddos came in so my ip should always be the same. And i doubt that camolist is used as a proxy and they log in with my login details so that their IP is shown when they forward my login details. Would be a bit weird that way.

I havent seen such IP-login-stat with other exchanges too.

[noggin-scratcher]

I meant that there has to be two FRR rates. One for receive swap, one for offer swap. It sounded like you thought the option to use FRR rates for receive swap means that, when disabled, and chosing a rate that is higher than FRR on the swap offers orderbook, that you can clear this orderbook without taking the FRR-rate swaps.

Pretty sure FRR is always just one rate, for both offering and receiving funds. Or are you saying there ought to be two rates?

Problem would be that if you create a difference between the rate being paid and the rate being received, either Bitfinex would be stealing the difference (if the rate paid by traders is lower than the rate received by lenders) or there would be a shortfall in the funds collected and Bitfinex would have to pay to cover the difference and bring it up to the rate the lenders expect to receive (if the rate received is higher than the rate paid)

I dont see a reason for that option existing. In fact its unfair to those offering at FRR. Why give them an disadvantage against normal orders? Is there a reason that explains this?

Fixed and variable rates aren't strictly comparable; you can't say with certainty that one is a "better rate" than the other because the variable rate could change at any time. A situation can be imagined where you would want to lock in a fixed rate that's slightly higher than the FRR at that moment, in case the FRR rises in the near future. That doesn't really explain why anyone would choose to take a 0.7% fixed rate over a 0.1% variable rate, but it does explain why the option exists to choose to not take variable-rate swaps.

[davidgdg]

Whilst on the subject of FRR .....

When I offer funds on FRR my offer presumably goes into a queue. But there's no info on where I am in that queue. So it makes it incredibly difficult to know whether to make an immediate loan at fixed rates or stay in the FRR queue.

Eg there are currently 746 offers at FRR. How do I find out where I am in that list and thus how long it will take for my funds to be loaned out (and in the meantime it is dead money)

Why not make that info available to lenders so that they can judge whether to stick with FRR or offer fixed ?

[Sukrim]

You can check out the api for that info.

[davidgdg]

You can check out the api for that info.

Thanks. How do I do that ?

[SebastianJu]

I meant that there has to be two FRR rates. One for receive swap, one for offer swap. It sounded like you thought the option to use FRR rates for receive swap means that, when disabled, and chosing a rate that is higher than FRR on the swap offers orderbook, that you can clear this orderbook without taking the FRR-rate swaps.

Pretty sure FRR is always just one rate, for both offering and receiving funds. Or are you saying there ought to be two rates?

Problem would be that if you create a difference between the rate being paid and the rate being received, either Bitfinex would be stealing the difference (if the rate paid by traders is lower than the rate received by lenders) or there would be a shortfall in the funds collected and Bitfinex would have to pay to cover the difference and bring it up to the rate the lenders expect to receive (if the rate received is higher than the rate paid)

Hm... in that case its definitively a bug when FRR shows up on the swaps demand side. I saw them there often and was wondering why since the rates werent the way that they could be there.

I dont see a reason for that option existing. In fact its unfair to those offering at FRR. Why give them an disadvantage against normal orders? Is there a reason that explains this?

Fixed and variable rates aren't strictly comparable; you can't say with certainty that one is a "better rate" than the other because the variable rate could change at any time. A situation can be imagined where you would want to lock in a fixed rate that's slightly higher than the FRR at that moment, in case the FRR rises in the near future. That doesn't really explain why anyone would choose to take a 0.7% fixed rate over a 0.1% variable rate, but it does explain why the option exists to choose to not take variable-rate swaps.

Oh, you mean taking an FRR rate means that your taken swap constantly changes the daily rate? I did not think so. I thought its only for offering the swaps. When the swaps are taken then its a normal swap with the rate fixed for the rate it had when you took it.
Would be a strange setup if it works not that way.

[camolist]

Oh, you mean taking an FRR rate means that your taken swap constantly changes the daily rate? I did not think so. I thought its only for offering the swaps. When the swaps are taken then its a normal swap with the rate fixed for the rate it had when you took it.
Would be a strange setup if it works not that way.

it changes..hourly..

[camolist]

camolist you got that answer from support? it is very confusing and lacks of technical detail, there is nothing to "guess" about a source IP address, every connection comes with a source IP address and nothing need to be forwarded...
This is the first time happening to me in about a year, and if ppl start seeing successfull logins history from FOREIGN IP addresses this is absolutely normal to start worrying and flooding email support with questions.

yes and i agree

i'm not sure what to make of the reply was just sharing it as sent by their support

[abercrombie]

Bitfinex down, guys.  I repeat, Bitfinex down!  

Edit:  Safari on my iPhone works, but IE, Chrome, FF doesn't work on my desktop on two separate computers.

[8fold]

No issues for me, I've just logged in.

[noggin-scratcher]

Hm... in that case its definitively a bug when FRR shows up on the swaps demand side. I saw them there often and was wondering why since the rates werent the way that they could be there.

FRR and fixed-rate swaps are two separate entities occupying space on the same order book even though they can't really be matched against each other (although they are commonly taken interchangeably by the auto-borrow system employed to find swaps for traders who don't do so manually. So a FRR demand can stay on the book despite the existence of lower fixed-rate offers, because those offers haven't agreed to use the variable rate (which could take the rate of return lower still during the course of the swap).

Meanwhile swaps of different durations add yet another dimension to an already complex set of offers/demands - can be the case that FRR offers don't get matched against FRR demands because the minimum duration demanded is more than the maximum duration offered.

Oh, you mean taking an FRR rate means that your taken swap constantly changes the daily rate? I did not think so. I thought its only for offering the swaps. When the swaps are taken then its a normal swap with the rate fixed for the rate it had when you took it.
Would be a strange setup if it works not that way.

Strange or not... when you agree to a variable rate swap, the rate varies during the duration of the swap. If you check the FAQ, that's presented as a beneficial feature - since FRR tends to rise when the price of BTC is on the up and fall when the price goes down (which is only really true in the broadest/loosest sense, but whatever), if a trader takes a FRR swap it'll (probably) only become more expensive if they're simultaneously profiting from the rising price.

[NoobKidOnTheBlock]

Hey I need someone to get back to me about an order in margin trading that for some odd reason won't close!!! I've emailed twice today and that was once early this morning and STILL NO ONE HAS GOTTEN BACK TO ME!!!!!! What kind of site are you guys running?? I'm losing BTC on this order that I can't close for some odd reason!!!!! I NEED HELP FROM SUPPORT!!!!! LIKE IMMEDIATELY!!!!! I'M LOSING BTC CAUSE OF THIS!!!!

[LancienMaleAlpha]

hi,

I usually have no problems :

gettting this message this morning :

"We're sorry, but something went wrong.

We've been notified about this issue and we'll take a look at it shortly."

sometimes the page is loading ok , sometimes this message appears , thanks for help.

[SebastianJu]

Hm... in that case its definitively a bug when FRR shows up on the swaps demand side. I saw them there often and was wondering why since the rates werent the way that they could be there.

FRR and fixed-rate swaps are two separate entities occupying space on the same order book even though they can't really be matched against each other (although they are commonly taken interchangeably by the auto-borrow system employed to find swaps for traders who don't do so manually. So a FRR demand can stay on the book despite the existence of lower fixed-rate offers, because those offers haven't agreed to use the variable rate (which could take the rate of return lower still during the course of the swap).

Meanwhile swaps of different durations add yet another dimension to an already complex set of offers/demands - can be the case that FRR offers don't get matched against FRR demands because the minimum duration demanded is more than the maximum duration offered.

Oh, you mean taking an FRR rate means that your taken swap constantly changes the daily rate? I did not think so. I thought its only for offering the swaps. When the swaps are taken then its a normal swap with the rate fixed for the rate it had when you took it.
Would be a strange setup if it works not that way.

Strange or not... when you agree to a variable rate swap, the rate varies during the duration of the swap. If you check the FAQ, that's presented as a beneficial feature - since FRR tends to rise when the price of BTC is on the up and fall when the price goes down (which is only really true in the broadest/loosest sense, but whatever), if a trader takes a FRR swap it'll (probably) only become more expensive if they're simultaneously profiting from the rising price.

Thanks for the explaination.

I already saw flash return rate on the swap demand side. How can this happen? If there is only one Flash Return Rate then it would be the same. If one wants to receive a swap and choses FRR then his order should be matched against the big FRR-Wall on offer side of the orderbook. But i have seen FRR entries on the demand side already. The rates didnt match to the rates that were normal in demand side. Im not sure if FRR was existend on the offer side at that moment.

I will make a screenshot when i see it again.

So what is your explaination for someone who takes the high priced rates behind FRR-Wall? Accounts that wer created before that checkbox was implemented so that its not enabled to chose variable rates? I cant see how someone would get an advantage from. Maybe they only dont realize they have this setting.

[Mythoughts]

I already saw flash return rate on the swap demand side. How can this happen? If there is only one Flash Return Rate then it would be the same. If one wants to receive a swap and choses FRR then his order should be matched against the big FRR-Wall on offer side of the orderbook. But i have seen FRR entries on the demand side already. The rates didnt match to the rates that were normal in demand side. Im not sure if FRR was existend on the offer side at that moment.

I will make a screenshot when i see it again.

It's the lending times. If someone wants to get a FRR swap for 30 days but noone's offering for that timeframe (only swaps offered for durations of <29 days), then there can be an FRR wall on the offer-side, peacefully co-existing with the usual FRR-wall.

So what is your explaination for someone who takes the high priced rates behind FRR-Wall? Accounts that wer created before that checkbox was implemented so that its not enabled to chose variable rates? I cant see how someone would get an advantage from. Maybe they only dont realize they have this setting.

I'm sure someone would have been quite happy to get a fixed rate at 0.03% a few weeks ago (while the FRR was at 0.025%). The rate went up quick and stayed there. Everybody who did get a fixed rate for a long timeframe... well, won big.

[PRab]

Looks like its been a little over a year since the last Bitfinex Audit. Any word if/when another will be happening?

[SebastianJu]

I already saw flash return rate on the swap demand side. How can this happen? If there is only one Flash Return Rate then it would be the same. If one wants to receive a swap and choses FRR then his order should be matched against the big FRR-Wall on offer side of the orderbook. But i have seen FRR entries on the demand side already. The rates didnt match to the rates that were normal in demand side. Im not sure if FRR was existend on the offer side at that moment.

I will make a screenshot when i see it again.

It's the lending times. If someone wants to get a FRR swap for 30 days but noone's offering for that timeframe (only swaps offered for durations of <29 days), then there can be an FRR wall on the offer-side, peacefully co-existing with the usual FRR-wall.

So what is your explaination for someone who takes the high priced rates behind FRR-Wall? Accounts that wer created before that checkbox was implemented so that its not enabled to chose variable rates? I cant see how someone would get an advantage from. Maybe they only dont realize they have this setting.

I'm sure someone would have been quite happy to get a fixed rate at 0.03% a few weeks ago (while the FRR was at 0.025%). The rate went up quick and stayed there. Everybody who did get a fixed rate for a long timeframe... well, won big.

Thanks for your explaination. (I hope the new forum has a thank you button. )

[zanetackett]

Looks like its been a little over a year since the last Bitfinex Audit. Any word if/when another will be happening?

We will have an announcement in regard to this in the coming weeks. It will be a pretty big announcement and we're looking forward to it and hearing what the community thinks.