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

[Progressive]

The minimum lending amount was changed to $100? What is the reason for this?

[Ente]

Raphael, Giancarlo, the site is too slow! Bids, asks and the orderbook don't load, or take way too long!
This is a quite bad time for the servers taking a nap! :-)

Ente

[8fold]

I agree, we need more extra bandwidth and processing power. Especially since we're heading for stormy weather, full of market turbulence.

[unclescrooge]

Hello guys,


About the re-lending thing: We had a discussion about it and the conclusion was that it would do more harm than good (all good offers would be quickly taken leaving the "bad" one to others).. So this is not going to happen.

About the speed of the servers. Yes, it is slow. Painfully slow. We are fully aware of it, and we have ordered a new round of upgrade (which unfortunately is not as easy as adding servers in this case).

The P2P lending is great, but it's a server killer

About Bitstamp funds, we have a lot of money under way, on top of the one resulting from the crash last night. This will chase the liquidity problem for some time.

Thanks for anyone's feedback

best regards
Raphael

[ninjaboon]

Raphael, Giancarlo, the site is too slow! Bids, asks and the orderbook don't load, or take way too long!
This is a quite bad time for the servers taking a nap! :-)

Ente

Loaded ok for me. I guess it depends on your location or local internet speed.

[unclescrooge]

Raphael, Giancarlo, the site is too slow! Bids, asks and the orderbook don't load, or take way too long!
This is a quite bad time for the servers taking a nap! :-)

Ente

Loaded ok for me. I guess it depends on your location or local internet speed.

Ninjaboon

No unfortunately it is slow at time (some "peak" time), I have to admit.

A small request, should be simple enough to implement if you see my point: can you slightly increase the frequency at which Autolend is run? I just noticed it took more than 30 minutes before my funds were offered again -- which is not terrible, but still a bit too long I would say. Maybe running it every 5 to 10 minutes would be possible, and not too computationally expensive?

Oda.krell

We will increase it in the future, but it will stay at this frequency for the time being. Thank you for your comprehension.

I have pending BTC and LTC withdrawal request since 15 hours. How long will it take?

Molecular,

Normally now, when you make a withdrawal request, either you have OTP enabled and it's instant, or you receive an email with a link to click on (after which it is also automated).

This is why I don't approve withdrawals manually (except large one or when the hot wallet was empty).

Thanks

Raphael
Bitfinex team

[Spekulatius]

Hi,

How willl the scheduled down time of Bitstamp affect order execution of Bitfinex?

Thx

[molecular]

Hi,

How willl the scheduled down time of Bitstamp affect order execution of Bitfinex?

Thx

oh, that's why no orders are executed on bfx?

Shouldn't we be able to trade bfx-only?

The order book isn't even loading.

[vokain]

Hi,

How willl the scheduled down time of Bitstamp affect order execution of Bitfinex?

Thx

oh, that's why no orders are executed on bfx?

Shouldn't we be able to trade bfx-only?

The order book isn't even loading.

I do recall Raphy saying he ordered more hardware, though I doubt that's being laid out right now

[nrd525]

Average Variable Interest Rate is now in the Stats page. Nice!

[nrd525]

An interesting statistic would be the percent of money from lenders that was lent out.  You could multiply this by the average variable interest rate to get a good estimate of the expected rate of return.

This number would be biased up, due to the crazy interest rates during the bubble/surge.   But it would also be biased down due to people not loaning out their money and holding out for higher interest rates.

[urwhatuknow]

Dear Customers

as somebody might have already noticed we recently corrected the terminology of our trading site by replacing the Variable Interest Rate ( VIR ) with a more appropriate Flash Interest Rate ( FRR ) and by introducing a new Average Variable Interest Rate (AVIR)

This is due mainly for 2 reasons:

1) The FRR, formerly known as VIR, must be seen as an indicator of current rates but cannot be considered in any case a yearly indicator of return.
As a matter of fact it fluctuates on an hourly basis and to extrapolate such an indicator on a yearly basis it is "de facto" a misleading concept.

2) The Average Variable Interest Rate takes into consideration a much longer time frame, such as 90 days and even though it cannot be considered as a reliable indicator of yearly results it is getting much closer to it.

This was made for the sake of precision.
We at Bitfinex care a lot about the correctness of the informations given to our customers and we felt this has to be made.

I wish you all a good trading day

Giancarlo
Bitfinex Team

[Sukrim]

How exactly are these numbers calculated?

[urwhatuknow]

How exactly are these numbers calculated?

FRR is the weighted average of all the fixed rate loans currently active, very much the same as VIR used to be.
However to call this an annualized interest rate was not correct from an accounting point of view as it fluctuates wildly from time to time and that's why the word flash was introduced

AVIR is the average of the FRR taken at a certain time of the day (always at the same time every day) in the last 90 days.
This index comes closer to a reasonable extrapolation of a yearly interest and it will be much less volatile.

I hope that helps

Giancarlo
Bitfinex Team

[nrd525]

The user interface should say what the current Flash Return Rate is in a prominent spot for the Lending pages.

Currently for US dollars you have to page down four screens to get it because it is buried under lending requests, and there aren't any lending offers at that rate.

[oda.krell]

Maybe I'm missing something, but now that there are two interest rate averages (FRR, AVIR), shouldn't we be able to get options for both of them in the 'lend' and 'autolend' windows?

[urwhatuknow]

Maybe I'm missing something, but now that there are two interest rate averages (FRR, AVIR), shouldn't we be able to get options for both of them in the 'lend' and 'autolend' windows?

Those are just indicators, one is more long term (AVIR)  the other is short term (FRR).
Therefore there is no option to choose from.

I hope that helps

Giancarlo
Bitfinex Team

[vokain]

Thank you Giancarlo and everyone with BFX!

[Progressive]

1) This is missing from the new interface:

Code:

Funds currently lent ( Average rate per 365 days: USD : xx% / BTC : 0.0% / LTC : 0.0% )

2) Why was the minimum for lending USD raised to $100?

3) I'm still not able to click-collapse the "My active orders" and "Funds currently lend" lists.


(I really like your service & your sincere communication here, that's why I'm bothering you with these details They're not crucial, so take your time with them )

[accord01]

how does margin trading work on this site?

i deposited 1.5 btc's.... how do i get this leveraged and then try to profit from bitcoins going up?

I don't get how u buy bitcoins with bitcoins in the margin trade tab.

could someone tell me what is going on here?


Pair        Amount    Base price    Liquidation Price (**)    Total loans of positions         P/L (*) ($)    P/L (*) (%)    Swap rate (per day)    
BTCUSD    3.6    $203.5408    $158.6548                        732.75 USD                     -$4.50             -0.615%                0.14%



Swap    Actions
-$0.04      Close


thanks a lot!

edit- for the routing i chose bitfinex.  Where is the bitfinex chart and current price located?

also, how is my balance only 1.0xxx btcs?  i am only down 4.5 $.