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

[superbit]

Self moderated topic, no thanks.

This, I am a long time customer of the site, but I'd prefer to see an open topic.

[urwhatuknow]

Self moderated topic, no thanks.

I'd be wary of Bitfinex if I were you. They were outed for gambling with their customers funds during the crash. Some random investor got credited with a few hundred thousand imaginary USD, if the price didn't go back up then your force executed orders had nothing to back them up.

It worked, OK, but that's absolutely not responsible.

Oh yes?
Any evidence you can show us about what you say or was it just a bunch of empty words?
We were outed by whom?
A resentful advisor that never understood the difference between being an employee and a shareholder and is lying thru his teeth?
C'mon, let's move on....
You blame Bitfinex not to be responsible on a crappy mountain of false allegations.
Would you define yourself responsible in doing that?
It's your right to choose not to be our customer, just stop intentionally lying about us.
Or could it be that, as you are running coinlenders.com you just want to throw some shit on your smarter competitors?
Your business must be doing really poorly if you have enough time to waste on such childish techniques.
Not very professional I must say....

Have a good life

Giancarlo

[urwhatuknow]

Compliance with existing regulations and AML/KYC is in this moment our first priority.

Thanks for this info. Exactly what I wanted to know.

Depositing and withdrawing only BTC: for the moment this seems to be exempt, according to recent Fincen guidance.

Does this include "Deposit BTC -> use exchange to convert to USD -> use exchange to convert to BTC -> withdraw BTC"? No USD is being moved in this process, only "held" by you "for the customer". Possibly Fincen guidance doesn't cover this, possibly it does... I'm not sure.

We are currently working on a new project that will allow our customers to trade and make a profit without ever being involved into any fiat money whatsoever.

Interesting. Will hedging against BTC fluctuation (what can currently be done by simply using the exchange to convert to USD) be possible with that scheme?

Q: Does this include "Deposit BTC -> use exchange to convert to USD -> use exchange to convert to BTC -> withdraw BTC"? No USD is being moved in this process, only "held" by you "for the customer". Possibly Fincen guidance doesn't cover this, possibly it does... I'm not sure.

A: This wont be subject to any KYC as no currency is incoming or outgoing. Cryptocurrencies movements are not subject to any verification according to Fincen guidance.


Q: Interesting. Will hedging against BTC fluctuation (what can currently be done by simply using the exchange to convert to USD) be possible with that scheme?

A: Yes it will

I hope this helps

Giancarlo
Bitfinex Team

[superbit]

Awfully quiet around here.

[Ichthyo]

Awfully quiet around here.

and the rates are boring....

[Sukrim]

I just don't feel comfortable talking in a self-moderated topic, so I stopped posting in this official Bitfinex thread (as the other one is locked now).

[superbit]

I just don't feel comfortable talking in a self-moderated topic, so I stopped posting in this official Bitfinex thread (as the other one is locked now).

Is there another thread?  Raphy, please make a thread that isn't self moderated.

[Sukrim]

I just don't feel comfortable talking in a self-moderated topic, so I stopped posting in this official Bitfinex thread (as the other one is locked now).

Is there another thread?

https://bitcointalk.org/index.php?topic=119745.0 in Project Development, it was closed as Bitfinex is said to be out of beta now/soon.

[Ichthyo]

I just don't feel comfortable talking in a self-moderated topic, so I stopped posting in this official Bitfinex thread (as the other one is locked now).

Is there another thread?

Well, since some are so much concerned regarding the self-moderated nature of this official thread...

See the new Bitfinex users Thread, which is not self moderated.
(Of course, the moderators of this forum are another story, but this doesn't seem to be much of a concern)

@Bitfinex staff: please don't feel offended. Personally I think you do a great job and don't have the slightest intention to manipulate a forum thread. My intention is just: as some seem to be concerned, let us users have our own discussion realm; this way, the official thread could be the place for important announcements and direct questions targetted towards Bitfinex staff

[mccoyspace]

Hi R,

I'm getting a bad certificate error when I try to connect via https right now.
 Here is what Firefox is saying:

www.bitfinex.com uses an invalid security certificate.

The certificate is only valid for the following names:
  ssl2697.cloudflare.com , *.mlpchan.net , gamefactory.jp , *.gamefactory.jp , *.mcserverlist.net , mlpchan.net , mcserverlist.net , *.mobafire.com , *.alientechnologies.ru , mobafire.com , alientechnologies.ru 

(Error code: ssl_error_bad_cert_domain)

Is it a cloudflare thing? What is with all those other domains?

[joesmoe2012]

Self moderated topic, no thanks.

I'd be wary of Bitfinex if I were you. They were outed for gambling with their customers funds during the crash. Some random investor got credited with a few hundred thousand imaginary USD, if the price didn't go back up then your force executed orders had nothing to back them up.

It worked, OK, but that's absolutely not responsible.

Happen to have a link to this or anything? Not doubting you, but would like to read up more on it myself.

[Ichthyo]

I'd be wary of Bitfinex if I were you. They were outed for gambling with their customers funds during the crash.

Happen to have a link to this or anything? Not doubting you, but would like to read up more on it myself.

I'd guess TradeFortress is referring to the story regarding user "Myself", who worked as advisor for Bitfinex. Some weeks ago, this business relationship came to an end, due to differences regarding contracts, obligations and probably also due to differences in the future direction Bitfinex intends to take. Anyway, as an immediate reaction, user "Myself" started a Scammer accusation against the funder of Bitfinex.

See this thread for the full story.

This had the side effect that some up to then internal details about financing and risk-management deals became publicly known.

Some random investor got credited with a few hundred thousand imaginary USD, if the price didn't go back up then your force executed orders had nothing to back them up.

This sounds like a rather lopsided description. Indeed, "Myself" made it look this way in his accusation, but we should place such accusations into context. As far as I can see from the statements, there was a deal to the end that an investor took the risk of actually closing user's trading positions in forced liquidation, during one of these events with huge Mt.Gox lag. This would mean that these positions where backed by an investment into Bitfinex, while before this exchange, these positions would have been backed only by Bitfinex' own (probably insufficient) funds.

Of course we have no way to find out from the outside how reliable this backing was and how matters were handled legally and technically.

[Ichthyo]

....the thread mentioned above quotes an account of the events given by the Bitfinex owner:

https://bitcointalk.org/index.php?topic=224745.msg2422819#msg2422819

This should give us both viewpoints of this dispute

[Ichthyo]

LTC leveraged trading seems to have been enabled. 

If I interpret the balances correct, the LTC in the trading account now count as part of the margin balance. 

[Ichthyo]

Question: where are the LTC loans (for shorting) shown?
There are three tabs on the lending page (USD, BTC, LTC), but it seems, the table "borrowed funds" is shared between all of these pages. But shouldn't I see a LTC position in that table then, once I open e.g. a LTC/BTC short position?


Just trying out the new feature... 

[Ichthyo]

...also there seems to be a minor GUI issue:

When opening a margin position in LTC/BTC or LTC/USD, the edit field should be labeled "position size (LTC)"
currently it shows "(BTC)", but the position size is actually denominated in LTC (correct?)

[unclescrooge]

Question: where are the LTC loans (for shorting) shown?
There are three tabs on the lending page (USD, BTC, LTC), but it seems, the table "borrowed funds" is shared between all of these pages. But shouldn't I see a LTC position in that table then, once I open e.g. a LTC/BTC short position?


Just trying out the new feature... 

Hello,

The loans are now not immediately borrowed when taking a position (for speed purpose) but few minutes later. Anyway you should see these loans in the same "Borrowed funds" table.

...also there seems to be a minor GUI issue:

When opening a margin position in LTC/BTC or LTC/USD, the edit field should be labeled "position size (LTC)"
currently it shows "(BTC)", but the position size is actually denominated in LTC (correct?)

Corrected thanks.

ABout the self-moderated thread, I totally understand your concerns, but we did not do that for manipulation purpose.

Anyway, if you have an open-discussion thread that's will please everyone I guess


Ichthyo, thanks for your renewed confidence

Everyone have a good week-end

Raphael
Bitfinex team
Raphael

[BCB]

Checking out your site.

You say:
[snip]
Our security practices
Always up-to-date linux systems to host the platform
[/snip]

[snip]
Cold wallet:
Your bitcoins are stored in cold wallet only, and the servers only use watch-only wallet, powered by Armory, to monitor deposit and balances. We have a bitcoind (official daemon) running only to handle the blockchain transactions), and the wallet is handled by the Mav Armory Server script (open-source, you can find it here: <link>source code</link>).
[/snip]
This links to:

https://github.com/thedawnrider/BitcoinArmory-Daemon

where we are informed:

[snip]
BitcoinArmory-Daemon
No Longer Maintained! as of 2013-15-01
[/snip]

If that is not up to date what else is not up to date (or as you say)

Just asking.

[vokain]

eta on how long it will take for compliance? I'd like to make a deposit by wire

[molecular]

eta on how long it will take for compliance? I'd like to make a deposit by wire

you could use: USD cash withdrawal -> localbitcoins.com -> blockchain -> bitfinex exchange. Bit of friction, but not too much.