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

[BHSMC]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

[manchester93]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

You might be able to make an account, but it will be closed in the next couple months. Just use a non-US VPN. It's not like they have fiat capabilities anyway. Just deposit/withdraw crypto and act like an unverified non-US customer.

[krizniq]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

well it's pretty obvious why. Nobody wants to have feds on their toes. Better to get rid of minority of the users and serve rest of the planet than be seized by global policeman as btc-e was.

[manchester93]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

well it's pretty obvious why. Nobody wants to have feds on their toes. Better to get rid of minority of the users and serve rest of the planet than be seized by global policeman as btc-e was.

Indeed but it's too little too late. They've been an unlicensed MSB for 4 years now in the states, including offering fiat markets and fiat deposit/withdrawal. Plus, the BFX token thing was definitely issuing unregistered securities. They can't erase all that just by pulling out of the market now. The Feds are probably investigating them as we speak.

[deisik]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

well it's pretty obvious why. Nobody wants to have feds on their toes. Better to get rid of minority of the users and serve rest of the planet than be seized by global policeman as btc-e was.

I simply agree with that

But, on the other hand, Btc-e had started payouts two days ago, and some folks confirmed that they have already received 55% of their funds in crypto to their wallets (I mean those who decided to call it a day). The rest are given Btc-e tokens (just like Bitfinex did a year ago) for the remaining 45% of their total amount, and it looks like the exchange is going to resume its operation pretty soon despite all the efforts of the FBI and FinCEN. I guess it will be an interesting drama to see the FBI falling flat on their face. As they say, show must go on!

[BHSMC]

So can we still use it with btc or no?

[manchester93]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

well it's pretty obvious why. Nobody wants to have feds on their toes. Better to get rid of minority of the users and serve rest of the planet than be seized by global policeman as btc-e was.

I simply agree with that

But, on the other hand, Btc-e had started payouts two days ago, and some folks confirmed that they have already received 55% of their of funds in crypto to their wallets (I mean those who decided to call it a day). The rest are given Btc-e tokens (just like Bitfinex did a year ago) for the remaining 45% of their total amount, and it looks like the exchange is going to resume its operation pretty soon despite all the efforts of the FBI and FinCEN. I guess it will be an interesting drama to see the FBI falling flat on their face. As they say, show must go on!

It's definitely embarrassing for the Feds, we can see that much. Just the fact that they are doing 55% refunds currently is a huge blow to the image of US law enforcement. Relaunching the exchange will be that much more embarrassing.

But that will also up the ante for the Feds. Give it 1-2 years of investigations, and they will bring the new exchange down much harder than before. So, hopefully, people get most of their money paid back and can reduce their holdings on the exchange by then.

[deisik]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Seems like you answered your own question there already...

As Serpens stated, I kinda felt like they don't want us in any form. It seems like they are discontinuing services to their existing U.S customers.

Anyone asked this to bitfinex by any chance?

well it's pretty obvious why. Nobody wants to have feds on their toes. Better to get rid of minority of the users and serve rest of the planet than be seized by global policeman as btc-e was.

I simply agree with that

But, on the other hand, Btc-e had started payouts two days ago, and some folks confirmed that they have already received 55% of their of funds in crypto to their wallets (I mean those who decided to call it a day). The rest are given Btc-e tokens (just like Bitfinex did a year ago) for the remaining 45% of their total amount, and it looks like the exchange is going to resume its operation pretty soon despite all the efforts of the FBI and FinCEN. I guess it will be an interesting drama to see the FBI falling flat on their face. As they say, show must go on!

It's definitely embarrassing for the Feds, we can see that much. Just the fact that they are doing 55% refunds currently is a huge blow to the image of US law enforcement. Relaunching the exchange will be that much more embarrassing.

But that will also up the ante for the Feds. Give it 1-2 years of investigations, and they will bring the new exchange down much harder than before. So, hopefully, people get most of their money paid back and can reduce their holdings on the exchange by then

But it works the other way too

And I don't think that they will be wasting these years either ("once bitten, twice shy"). Personally, I'm more inclined to think that it will be a lot harder for the FBI to bring the new exchange down in the future than it was today. Why so? Because the Feds won't be able to think up something really refreshing ("you can't teach the old dog new tricks"), while the exchange can just place their servers near Moscow (once Bitcoin status is made clear in Russia) and write off the FBI and their East European minions as MIA

[exstasie]

And I don't think that they will be wasting these years either ("once bitten, twice shy"). Personally, I'm more inclined to think that it will be a lot harder for the FBI to bring the new exchange down in the future than it was today. Why so? Because the Feds won't be able to think up something really refreshing ("you can't teach the old dog new tricks"), while the exchange can just place their servers near Moscow (once Bitcoin status is made clear in Russia) and write off the FBI and their East European minions as MIA

Maybe, but personally I tend to agree with the sentiment that US agencies place "saving face" very high on their priority list. I hope that BTC-e does not offer fiat capabilities on their new site, to minimize exposure to intervention by the USA. If they operate as a crypto-only exchange, then it's possible that no funds are at risk at all. Just servers, user data, shell companies and the money it takes to set up and maintain that infrastructure.

But I wouldn't count on Moscow to be in BTC-e's corner. Or whatever brand they relaunch as. Moscow is very busy banning every Bitcoin exchange they can find, while Russian regulators recently suggested increasing restrictions on investment into cryptocurrencies. Even ignoring all that, the FSB/tax authorities see BTC-e much like the Americans do. They could never set up shop in Russia at this point. Not if they are smart, and I believe they are.

[Quickseller]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Yes.

Are you sure?
https://www.bitfinex.com/posts/216
It is not 100% clear in their statement, but they write:

Furthermore, over the next 90 days, we will be discontinuing services to our existing U.S. individual customers. We will be communicating further with affected users on timing and specifics. Our intention is to reduce disruption as much as possible for our U.S. customers.

For me this sounds like US customers won't be able to do anything at bitfinex ?!

I am sure. They are referring to verified US customers. Verified corporate customers within the US and unverified customers can still use their platform.

[BHSMC]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Yes.

Are you sure?
https://www.bitfinex.com/posts/216
It is not 100% clear in their statement, but they write:

Furthermore, over the next 90 days, we will be discontinuing services to our existing U.S. individual customers. We will be communicating further with affected users on timing and specifics. Our intention is to reduce disruption as much as possible for our U.S. customers.

For me this sounds like US customers won't be able to do anything at bitfinex ?!

I am sure. They are referring to verified US customers. Verified corporate customers within the US and unverified customers can still use their platform.

I am unverified. So i can still transfer/withdraw btc from bitfinex? Correct?

[Quickseller]

So as an US resident, I understand that we can't send them FIAT. However, can we still send/withdraw in a form of BTC?

Yes.

Are you sure?
https://www.bitfinex.com/posts/216
It is not 100% clear in their statement, but they write:

Furthermore, over the next 90 days, we will be discontinuing services to our existing U.S. individual customers. We will be communicating further with affected users on timing and specifics. Our intention is to reduce disruption as much as possible for our U.S. customers.

For me this sounds like US customers won't be able to do anything at bitfinex ?!

I am sure. They are referring to verified US customers. Verified corporate customers within the US and unverified customers can still use their platform.

I am unverified. So i can still transfer/withdraw btc from bitfinex? Correct?

Yup. You are correct.

[Timetwister]

I'm thinking about coming back to Bitfinex to lend USD. Is it realistic to lend money at FRR, or does it just stay being offered, with no takers most of the time? I'd like it to be automatic, not having to login often to add my offer.

[deisik]

I'm thinking about coming back to Bitfinex to lend USD. Is it realistic to lend money at FRR, or does it just stay being offered, with no takers most of the time? I'd like it to be automatic, not having to login often to add my offer.

Most of the time you will be waiting for your offer to be taken

And thus your money will be sitting idly. But you can tweak the settings and lend funds at some other interest based on the FRR rate (for example, FRR Delta, which is FRR rate minus some specified number). I didn't check this feature myself, so I don't know if it will allow you to get what you want but it is certainly worth looking into. Personally, I set the rate manually a little below the FRR rate (based on the amount being offered), and it works for me in the majority of cases

[Timetwister]

I'm thinking about coming back to Bitfinex to lend USD. Is it realistic to lend money at FRR, or does it just stay being offered, with no takers most of the time? I'd like it to be automatic, not having to login often to add my offer.

Most of the time you will be waiting for your offer to be taken

And thus your money will be sitting idly. But you can tweak the settings and lend funds at some other interest based on the FRR rate (for example, FRR Delta, which is FRR rate minus some specified number). I didn't check this feature myself, so I don't know if it will allow you to get what you want but it is certainly worth looking into. Personally, I set the rate manually a little below the FRR rate (based on the amount being offered), and it works for me in the majority of cases

How often do you have to offer money manually?

[deisik]

I'm thinking about coming back to Bitfinex to lend USD. Is it realistic to lend money at FRR, or does it just stay being offered, with no takers most of the time? I'd like it to be automatic, not having to login often to add my offer.

Most of the time you will be waiting for your offer to be taken

And thus your money will be sitting idly. But you can tweak the settings and lend funds at some other interest based on the FRR rate (for example, FRR Delta, which is FRR rate minus some specified number). I didn't check this feature myself, so I don't know if it will allow you to get what you want but it is certainly worth looking into. Personally, I set the rate manually a little below the FRR rate (based on the amount being offered), and it works for me in the majority of cases

How often do you have to offer money manually?

Obviously, it all depends

Some of my offers expire at their scheduled time, some may be returned in just a few minutes. In fact, I can't say that there are any reliable statistics. Indeed, if you set the rate too low (a way below the FRR rate), everyone will be happy to keep the funds until their term expires, but this is likely not what you may want to get. I have my own trading platform (trading terminal) which provides trading interface to Bitfinex (as well as a few other exchanges), and I'm going to automate this process one day in the future (since I don't quite like placing offers manually either), so if you feel interested, let me know

[Timetwister]

Obviously, it all depends

Some of my offers expire at their scheduled time, some may be returned in just a few minutes. In fact, I can't say that there are any reliable statistics. Indeed, if you set the rate too low (a way below the FRR rate), everyone will be happy to keep the funds until their term expires, but this is likely not what you may want to get. I have my own trading platform (trading terminal) which provides trading interface to Bitfinex (as well as a few other exchanges), and I'm going to automate this process one day in the future (since I don't quite like placing offers manually either), so if you feel interested, let me know

Where else do you lend USD?

[deisik]

Obviously, it all depends

Some of my offers expire at their scheduled time, some may be returned in just a few minutes. In fact, I can't say that there are any reliable statistics. Indeed, if you set the rate too low (a way below the FRR rate), everyone will be happy to keep the funds until their term expires, but this is likely not what you may want to get. I have my own trading platform (trading terminal) which provides trading interface to Bitfinex (as well as a few other exchanges), and I'm going to automate this process one day in the future (since I don't quite like placing offers manually either), so if you feel interested, let me know

Where else do you lend USD?

I'm lending only at Bitfinex

I'm also trading there (which seems to be kinda obvious) as well as at Poloniex, though I haven't yet tried lending there since, to tell the truth, I'm not using that exchange much at all. It looks somewhat suspicious to me, and I don't want to see my funds if not outright stolen (think Cryptsy here) then frozen there. So I can't tell you much about Poloniex in that regard. Maybe, someone else will chime in on this question and kindly enlighten us

[Sukrim]

Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

[deisik]

Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

As to me, 30 day offers are not very profitable most of the time

If the rates go way higher, you will be losing interest since you can't demand the return of the funds before the offer expires (i.e. after 30 days). On the other hand, if the rates go substantially lower, the borrower can return the borrowed funds immediately and take another offer at a lower interest. That likely explains why 30 day offers are not very popular overall, and thus you don't have to wait till your offer is taken