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

[TwinWinNerD]

TwinWinNerd

Please remove your add about Bitfinex.
What you state in it is false and misleading.
And it has legal implications.
Nobody earns interests on deposits on Bitfinex.
And nobody lends.
Liquidity providers must engage in a complex derivative called contract for difference (CFD) which involves a certain degree of risk.
I understand your aim is to help, but please ask me before engaging in any sort of advertising about Bitfinex.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Done. Sry had no intentions of doing harm!

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[Rannasha]

TwinWinNerd

Please remove your add about Bitfinex.
What you state in it is false and misleading.
And it has legal implications.
Nobody earns interests on deposits on Bitfinex.
And nobody lends.
Liquidity providers must engage in a complex derivative called contract for difference (CFD) which involves a certain degree of risk.
I understand your aim is to help, but please ask me before engaging in any sort of advertising about Bitfinex.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

The Bitfinex website uses the terms "lending", "interest" and "deposits" freely though, which seems a bit strange if there are legal implications that prevent this feature of Bitfinex from being advertised with these terms.

The term CFD only seems to appear on the stats page, everywhere else it is referred to as lending or borrowing.

[urwhatuknow]

TwinWinNerd

Please remove your add about Bitfinex.
What you state in it is false and misleading.
And it has legal implications.
Nobody earns interests on deposits on Bitfinex.
And nobody lends.
Liquidity providers must engage in a complex derivative called contract for difference (CFD) which involves a certain degree of risk.
I understand your aim is to help, but please ask me before engaging in any sort of advertising about Bitfinex.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

Done. Sry had no intentions of doing harm!

sure dude,

that has never been in doubt



Giancarlo
Bitfinex Team

[urwhatuknow]

TwinWinNerd

Please remove your add about Bitfinex.
What you state in it is false and misleading.
And it has legal implications.
Nobody earns interests on deposits on Bitfinex.
And nobody lends.
Liquidity providers must engage in a complex derivative called contract for difference (CFD) which involves a certain degree of risk.
I understand your aim is to help, but please ask me before engaging in any sort of advertising about Bitfinex.

Thanks a lot for your understanding

Giancarlo
Bitfinex Team

The Bitfinex website uses the terms "lending", "interest" and "deposits" freely though, which seems a bit strange if there are legal implications that prevent this feature of Bitfinex from being advertised with these terms.

The term CFD only seems to appear on the stats page, everywhere else it is referred to as lending or borrowing.

working on the rewriting too...
so many things to do at the same time....
hope all will be done by year end

thanks a lot and have a good day

Giancarlo
Bitfinex Team

[Indamuck]

Question for the board:

Thoughts on why 'interest rate' on USD 'loans' has collapsed over the last several days?

Have traders simply de-leveraged over the holidays, or is something else going on?


If someone from the BFX team had thoughts/insight on this, and could share, I'd be most appreciative.

Indamuck loves the BFX platform ....

[TwinWinNerD]

Question for the board:

Thoughts on why 'interest rate' on USD 'loans' has collapsed over the last several days?

Have traders simply de-leveraged over the holidays, or is something else going on?


If someone from the BFX team had thoughts/insight on this, and could share, I'd be most appreciative.

Indamuck loves the BFX platform ....

Two things happend:

The 4:1 Leverage option was removed on MOST accounts. The second thing is, that there was a huge amount of new USD coming into the CFD part of the site. If i remember correctly there was about 13 Million USD in contracts. Now that the demand is only for 8.5 Million USD, but the supply is nearly 50% higher, thus leading to extremly low (compared to the days before) rate of returns.

[superbit]

Here's to hoping the 4 to 1 leverage gets brought back soon

[DigitalHermit]

Here's to hoping the 4 to 1 leverage gets brought back soon

Here's to hoping they significantly expand the insurance fund used by liquidity providers if they decide to bring back 4 to 1 leverage.

[Indamuck]

Two things happened:

The 4:1 Leverage option was removed on MOST accounts. The second thing is, that there was a huge amount of new USD coming into the CFD part of the site. If i remember correctly there was about 13 Million USD in contracts. Now that the demand is only for 8.5 Million USD, but the supply is nearly 50% higher, thus leading to extremly low (compared to the days before) rate of returns.

Thanks ... makes sense.

[BitCoinNutJob]

where do i view what address ive made a withdraw to? it doesnt say in email

[TwinWinNerD]

Click on "withdraw"
then on "recent deposits and withdrawals"

[wilfried]

is there a way to combine a limit order with a trailing stop? i.e. if the limit is reached, the trailing stop discards itself.

[r1senfa17h]

Hey guys,

Have any of you ever had a problem depositing BTC into Bitfinex? I've got a deposit that shows "unconfirmed", yet it has been confirmed in the blockchain 685 times (at time of this post). Any ideas? I've emailed support twice without response.

Transaction ID

I just wanted to say that Bitfinex was able to fix my problem and was very helpful. Thanks!

[BitCoinNutJob]

Click on "withdraw"
then on "recent deposits and withdrawals"

thx

[nrd525]

For calculating my taxes, I really hope you either

1) create an export function for history
OR
2) have two internal functions to calculate annual A) trading gains/losses and B) interest


Otherwise I'm going to have to do a lot of data entry myself. And I only made a small number of trades. I can only imagine what a day trader would have to do!

[Sukrim]

Yes, I have a _lot_ of entries in my ledger and that's only mostly from lending! Also in my tax statement I need to use not USD values, so I probably need to get daily USD/EUR rates and calculate profit/loss for every day in EUR.

Please, after nearly one year allow us to download a csv version of the ledger!

[Wassupia]

For calculating my taxes, I really hope you either
1) create an export function for history
OR
2) have two internal functions to calculate annual A) trading gains/losses and B) interest
Otherwise I'm going to have to do a lot of data entry myself. And I only made a small number of trades. I can only imagine what a day trader would have to do!

Yes, I have a _lot_ of entries in my ledger and that's only mostly from lending! Also in my tax statement I need to use not USD values, so I probably need to get daily USD/EUR rates and calculate profit/loss for every day in EUR.

Please, after nearly one year allow us to download a csv version of the ledger!

I made a history to cvs to json export function in javascript (firefox only for now, I might turn it in a bookmarklet one day):

https://bitcointalk.org/index.php?topic=229438.msg4041643#msg4041643

Once you have the csv you can use eg excel to filter and sort the data.
If you need any help, you can PM me.

[Sukrim]

As I already wrote, while this is a noble effort, this is probably not enough for me to use in tax filings - I don't want to pay too much or too little just because of some edge case on a 3rd party JavaScript that even contains spelling errors in fuction names ("choise").

Also you should remove the www. when calling bitfinex' history (in getHistoryData, var html), it errored out on me because of that... [Edit: no, the issue was that I did not change the "FirstPage" and "LastPage" fields in the form, the www. is probably fine.]

Edit2:
@Bitfinex guys: It would be great to at least have a year mentioned in the ledger part until we can have csv exports...

Edit3:
I wrote a translator from Bitfinex history to ledger-cli and my ledger on Bitfinex does NOT balance to the same amounts it does on ledger (it is off by the whopping amount of 0.00000004 USD). Now the problem is that either your balance calculation is off (I only used Debit/Credit amounts displayed), the JavaScript CSV exporting script is wrong or ledger-cli has a problem...

[Ichthyo]

is there a way to combine a limit order with a trailing stop? i.e. if the limit is reached, the trailing stop discards itself.

Unfortunately not.
But this is a very frequently posed feature request.
(Typically the request is to combine a limit and a fixed stop)

This would be very helpful indeed, since it supports the standard situation when you try to "get into a position".
My guess is that implementing such a feature will create a challenge for both the internal data representation and the visualisation in the GUI


@Bitfinex team: are there any plans or have you considered such a feature?

[Sukrim]

I spent the afternoon to hack a crude translator from the json file(s) that the script from wassupia (https://bitcointalk.org/index.php?topic=229438.msg4041643#msg4041643) outputs to the file format of ledger (http://www.ledger-cli.org/).

I am not an accountant, so I might have done some bookings to various accounts wrong, also it needs to be severely cleaned up (and has some limitations that come from Bitfinex - e.g. no year is mentioned in their log or it takes some time to actually even get a date + time, not this "xx minutes ago" bullshit timestamp).

It works though and is enough to get an overview of amounts earned/lost and fees paid etc., so I guess it's fine to just post it, maybe someone wants to use it too.
Pastebin: http://pastebin.com/fepuCfCW

You need to put this in a seperate file (e.g. bitfinex2ledger.py) and save usd.json and btc.json in the same folder next to it.
It will simply print the formatted data to stdout, redirect that to a file if you need to.

I used all the log messages that I found in my ledgers, there are likely more (e.g. Litecoin deposits/withdrawals and whatever OKPAY is...) - it will print "UNKNOWN ENTRY... DATA: ..." in case it cannot find a match - in that case feel free to post the data portion here (just fill in random digits if you are concerned about exposing stuff) then I will add this to the script.