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

[Ente]

So, is there any difference/advantage on bitfinex when running a corporate account? Besides implications on my, local, side (bank account, legal status etc).
Where can I read up on that? I didn't find anything on a short google.

Ente

[birr]

You're talking through your hat, boyo.

I asked a question (actually two). Just in case that simple fact failed to get through

Try buying $800,000 worth of XBT over the course of a year, as a private person, and let us know how that works for you. Bitfinex doesn't care how much money you send them, but your bank cares because it is regulated up the wazoo (at least in the U.S.)

I don't know about you, but in no circumstances I would buy $800,000 worth of bitcoins (even if I had $800,000, to begin with). Should I conclude that you habitually (or at least annually) buy and sell such amounts of bitcoins (dollars)?

Don't believe everything you read on the internet.

[deisik]

You're talking through your hat, boyo.

I asked a question (actually two). Just in case that simple fact failed to get through

Try buying $800,000 worth of XBT over the course of a year, as a private person, and let us know how that works for you. Bitfinex doesn't care how much money you send them, but your bank cares because it is regulated up the wazoo (at least in the U.S.)

I don't know about you, but in no circumstances I would buy $800,000 worth of bitcoins (even if I had $800,000, to begin with). Should I conclude that you habitually (or at least annually) buy and sell such amounts of bitcoins (dollars)?

Don't believe everything you read on the internet.

Buying $800,000 worth of bitcoins in total over the course of a year is actually not a big deal for a day trader. It amounts to buying (and selling) slightly above $2,000 daily, which is nothing out of the ordinary if you are trading actively, lol. I could just as well say that I would be buying more than $1,000,000 worth of bitcoins over a year, whereas in fact I had been actively trading the same ~$3,000 for a few weeks using a bot (as an individual)...

Which made around a few hundred trades a day (though with a relatively small percent of the total capital)

[birr]

Just like ol' Georgie Washington with his cherry tree, I cannot tell a lie.  I really did buy $800k of coin one year. 
And I do mean bought, not traded.
You may kiss my ring now.

[deisik]

Just like ol' Georgie Washington with his cherry tree, I cannot tell a lie.  I really did buy $800k of coin one year. 
And I do mean bought, not traded.
You may kiss my ring now.

And how many bitcoins did you actually buy?

[birr]

Just like ol' Georgie Washington with his cherry tree, I cannot tell a lie.  I really did buy $800k of coin one year. 
And I do mean bought, not traded.
You may kiss my ring now.

And how many bitcoins did you actually buy?

Who cares?  Easy come, easy go...

[deisik]

Just like ol' Georgie Washington with his cherry tree, I cannot tell a lie.  I really did buy $800k of coin one year. 
And I do mean bought, not traded.
You may kiss my ring now.

And how many bitcoins did you actually buy?

Who cares?  Easy come, easy go...

Okay, how many bitcoins did you actually lose? And where...

[birr]

Lose?
Muahahahah!
I'ma light this here see-gar with a benjamin

We now return you to your regular programming

[traderman]

Anyone else not getting withdrawal confirmation emails?

[nrd525]

On Bitfinx, I have a BTCUSD short position. I also have a greater number of BTC in the wallet than the short position. So I had zero funding costs. The position is in profit.

Basically I was using the short position to sell some of my bitcoins during this price rise, without actually selling them (for tax purposes). But now I've changed my mind and I'd like to sell them.

So say, I have 20 bitcoins and a short for 10 bitcoins. I want to close my short and have 10 bitcoins. Can I do this with the "Claim" position function?

I know I could do this by simultaneously selling 10 bitcoins and using the close function on the short - but that would involve market slippage and extra fees.

I figure I should be able to do this because Bitfinex already sold the bitcoins for the short when I entered the trade. And I'm not paying again margin funding - so they've already sold *my* bitcoins.  Am I right?

[nrd525]

I'm thinking that "claim" does what I want:
https://bitcointa.lk/threads/official-bitfinex-com-first-bitcoin-p2p-lending-platform-for-leverage-trading.136130/page-153

Though it looks like a 0.2% fee.

[pumawolf]

just close it manually on the opposite  site   of margin trading its the same as the close button  except the close button just dumps it to whatever the market price is.  if u short for 10 btc  u would long for 10 btc and they will counter and close it.

[nrd525]

I didn't want to close the position.

Update - clicked the claim button and it had a message before it executed. I was worried that it might execute automatically. I claimed the position and it worked as expected with a 0.2% fee.

[Hunyadi]

My withdrawal has been in "Processing"-status for over 3 hours... 

[Sukrim]

...and it can be 21 hours more, since it will take up to(!) 24 hours (but often faster).

[birr]

It's 12 hours, not 24.

[Sukrim]

Ah, nice that they promise to be faster now.

In case this gets outdated again: https://www.bitfinex.com/support#section-moving-funds <-- source for the 12 hours promise on cryptocurrencies.

[Msile]

Hi. I want to margin fund USD for the nice interest rate. But I don't know how to do this effectively. If I auto-renew with FRR, they won't be taken (yet).

And if I do it manually, I'll have to do it too often and I kinda just want to forget about it.

[Dunkelheit667]

Hi. I want to margin fund USD for the nice interest rate. But I don't know how to do this effectively. If I auto-renew with FRR, they won't be taken (yet).

And if I do it manually, I'll have to do it too often and I kinda just want to forget about it.

You might use the API and write a script to lend your funds automatically as you wish/following your rules.

I'm not sure, but someone published a script some time ago...

edit:
Here you go: https://bitcointalk.org/index.php?topic=865250.0
Never used it, but this is basically what you would need to keep the funds automatically in swaps.

[Bonez0r]

Hi. I want to margin fund USD for the nice interest rate. But I don't know how to do this effectively. If I auto-renew with FRR, they won't be taken (yet).

And if I do it manually, I'll have to do it too often and I kinda just want to forget about it.

You could use auto-renew at a rate slightly below the FRR, but then if the FRR drops below your rate your offers won't be taken. The only other option is a bot like the previous poster suggested. There are two for Bitfinex, but not easy for a non-technical person to set up. I managed to get a Poloniex lending bot running, but that was much easier (install the python programming language and then run the lending script) and i wish there were a Bitfinex lending bot that's that easy to use.

To all you programmers out there: is it really necessary for a Bitfinex lending bot to have such a complex setup procedure (server, php, mysql, cronjobs), or is it possible to make a python script for it just like the Poloniex lending bot? I would be VERY grateful to anyone who wrote such a python script.