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

[sangaman]

Currently, notification e-mails when an outstanding loan is paid back only provide the remaining amount and the type of currency. Would it be possible to get this notification e-mail to also provide the amount that was paid back, the interest rate of the loan, and the days remaining on the loan? Thanks.

[superbit]

A feature I would like to see is being able to set a new rate that the funds auto-renew too.  For example I have quite a few loans coming back in the next day or 2.  I would like them to renew, but I think the rates I could get right now would be higher, but I am not around to re-lend the funds back out.

If you could set a global auto-renew rate that would be rate.  So funds that are currently out go back out at the greater of their current rate, or the global renew rate on your account.

[vokain]

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.

I fear the fees for that are too high. I think right now my best bet would be to wire to bitstamp, eat the 0.1% conversion fee, and then buy from there. If i need margin or anything I can tx XRP to Bitfinex

[Ichthyo]

some questions regarding the API.

The API documented on the website covers some functions of Bitfinex.
From the available documentation, it looks like

• the API allows to place orders to the exchange section
• all three segments are supported, according to the API response to https://bitfinex.com/api/v1/symbols
• the API does not yet support any margin trading
• the API does not yet support the lending functions

Are these conclusions correct?
Are there plans to expose the missing functions at some point in the future? Especially will it be possible to control the margin trading via API ?
What are your priorities regarding those missing parts of the API? Will they come in some days / some weeks / some months?
(I don't intend to push you, rather I just want to judge the situation)


On a related note, at one point the documentation seems a bit confusing:

Say the client wants to make a request to POST https://bitfinex.com/api/v1/order/new

With a payload of
(...)


To authenticate a request, take

payload = parameters-dictionary -> JSON encode -> base64
signature = HMAC-SHA384(payload, api-secret) as hexadecimal
send (api-key, payload, signature)

These are encoded as HTTP headers

X-BFX-APIKEY
X-BFX-PAYLOAD
X-BFX-SIGNATURE

So does this mean you send a POST, but you put the actual request payload into a header field?
What are the contents of the body then? does this mean the body can remain empty for authenticated requests, while all non-authenticated requests are sent as GET ?

maybe pointing me to some piece of sample code especially for this aspect would be helpful.
Might be just a fragment of code, any language will do.

[vokain]

I can't believe you would close wire deposits without warning. There is no liquidity whatsoever here without that. Massively irresponsible to your customer base to abruptly pull deposits. How are we supposed to know whether or not you're insider squeezing?

[Ichthyo]

...its a bit surprising the LTC/USD market segment is much more liquid than the LTC/BTC segment.

Both are equally accessible from within Bitfinex (since both are internal markets). IMHO LTC/BTC would be much more interesting from a trading perspective, since the BTC/USD rate is factored out. Maybe this is exactly the reason; people still can't get rid of the habit to think in USD?

[RoadTrain]

...its a bit surprising the LTC/USD market segment is much more liquid than the LTC/BTC segment.

Both are equally accessible from within Bitfinex (since both are internal markets). IMHO LTC/BTC would be much more interesting from a trading perspective, since the BTC/USD rate is factored out. Maybe this is exactly the reason; people still can't get rid of the habit to think in USD?

For me the most interesting part of bitfinex is meta-exchange. If they allowed margin trading at BTC-e e.g. I'd like it more because of liquidity and ability to participate directly in the main LTC market.

[nrd525]

For the first time in a long time, the USD interest rates are going through the roof.  Currently everything up to 1800% APR is taken.  This is crazy because the current variable rate is 48% and it has been around 40% for a couple weeks.

It is also interesting that this is happening with 569k of US loans. Previously it took 700k of loans to get these high rates.  So maybe 150k is removed out of the market due to low interest rates, or some of it might be sitting on the sidelines.

[vokain]

For the first time in a long time, the USD interest rates are going through the roof.  Currently everything up to 1800% APR is taken.  This is crazy because the current variable rate is 48% and it has been around 40% for a couple weeks.

It is also interesting that this is happening with 550k of US loans. Previously it took 700k of loans to get these high rates.  So maybe 150k is removed out of the market due to low interest rates, or some of it might be sitting on the sidelines.

heh if that's true I dare them to go for a long squeeze. Curious to see what happens

[nrd525]

It's amazing that we're in a bear BTC market and the BTC loan rate is only 4%.

[vokain]

It's amazing that we're in a bear BTC market and the BTC loan rate is only 4%.

http://www.youtube.com/watch?v=piVnArp9ZE0

[Spaceman_Spiff]

It's amazing that we're in a bear BTC market and the BTC loan rate is only 4%.

Yeah, I don't get that either.  I am thinking it 'll go higher eventually..

[Sukrim]

For the first time in a long time, the USD interest rates are going through the roof.  Currently everything up to 1800% APR is taken.

Might have been someone REALLY wanting to go long? It seems to be over now. If you want a ~50k USD long position RIGHT NOW, you would drive rates up again though.

[xeverse]

The bitstamp routing is kinda useless to me.
The mkt eventually will gravitate toward the gox price anyway.
That's why all the charts are being drawn with gox price.

At the same time the stamp/gox spread oscillates in completely random fashion
all the time which only drives me crazy. No trading's possible in such environment.

Is anyone experiencing similar mindfucking?

We need routing to the largest exch
by volume or no routing at all..

[superbit]

I'm surprised GOX isn't at least an option.

[superbit]

Looks like rates are up again.  A lot less USD in there to borrow then their use to be.  I remember over 1 million USD being lent out on the site.

[Spaceman_Spiff]

I closed my gox <--->bitstamp/bitfinex arbitrage at a profit, brought back the cash to bitfinex, now my bid at 1630% was taken, feeling like a boss   .
(sorry, I had to brag, even if its only for a small amount   )

EDIT: and BTC rates are still around 4%, can you believe that? 

[superbit]

There are 0 funds available to be borrowed, all offers are out! Crazy!

[capoeira]

market order: "no reserve active"?

what does that mean?

[Spaceman_Spiff]

There are 0 funds available to be borrowed, all offers are out! Crazy!

Indeed, quite an epic 'WTF!'.  Somebody just went apeshit.  (Could be time for a nice bounce though)