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

[Timetwister]

Where can I find my paid back (to me) loans history?

[BitCoinNutJob]

Question about stop loss order... i need to fully understand what they are...

so if i put in a stop loss order in @ $100 and the price hits $99 it will market sell my order correct?

does the stop loss order ever fail i swear last time i tried it it didnt sell when the price dropped below, any reports of it failing before?

[akhavr]

Why I can't have autorenew liqudity offers both in BTC and USD?

Thanks

[m19]

Question about stop loss order... i need to fully understand what they are...

so if i put in a stop loss order in @ $100 and the price hits $99 it will market sell my order correct?

does the stop loss order ever fail i swear last time i tried it it didnt sell when the price dropped below, any reports of it failing before?

I'd also like a clearer explanation of the different order types.
The currently document is hard to find and hard / unclear to understand.

[TalkingBit]

Why I can't have autorenew liqudity offers both in BTC and USD?

Thanks

I'd like to hear an answer on this too! This option was just pulled with no explanation. Is it coming back? If so any estimates? It's a major pain to renew manually, thus removing renew option takes away a lot of liquidity for no reason

[bjornw]

Where can I find my paid back (to me) loans history?

I do not believe there is any "paid back loans history". I know BFX pretty well and I've never seen it. You could request such a feature and perhaps they will add a log of it.

I'd love to see this option added also, been looking for it myself. The only way I know of is setting a mail notification after an offer has been taken, bu I'm not looking at my account all the time so sometimes I miss the chance to add a notification before the offer closes

[Indamuck]

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

[TwinWinNerD]

On way to avoid this is to just lower the rate you want. Higher rates are only take for ultrashorttime trades at this moment. (Just my 2 cents)

So if you offer a more competitive rate, your CFD will stay in a position much longer.

[TwinWinNerD]

On way to avoid this is to just lower the rate you want. Higher rates are only take for ultrashorttime trades at this moment. (Just my 2 cents)

So if you offer a more competitive rate, your CFD will stay in a position much longer.

Well in the last hour, i had the same thing happen to me too. Maybe my strategy isn't as sound as i thought.

Within 1 hour, the same amount canceled 5 times. (Always offered the best rate at 2 days lending time)

[Wassupia]

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

I had the same issue today. In the last 5 hours I offered my money 5 times at 'low' interest rates. I've seen huge orders in "USD Liquidity demand" (200k). It seems like each time it was processed, my money goes back to my swappable balance. (The history page indicates my offers were accepted each time)

Is this an an attempt to manipulate the lending rates? It's hard to believe people bought 200k$ on btc to close the position within an hour. And repeat this 4 more times.

[jabetizo]

what would happen to the CFDs in the event that bitfinex is down for a few hours, during which BTC price drops significantly (below the margin call)?

[Spaceman_Spiff]

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

I had the same issue today. In the last 5 hours I offered my money 5 times at 'low' interest rates. I've seen huge orders in "USD Liquidity demand" (200k). It seems like each time it was processed, my money goes back to my swappable balance. (The history page indicates my offers were accepted each time)

Is this an an attempt to manipulate the lending rates? It's hard to believe people bought 200k$ on btc to close the position within an hour. And repeat this 4 more times.

I noticed this too today.  I think there is a liquidity offerer that is playing dirty games due to the fact that auto-renewal of liquidity swaps is currently unavailable (probably as a measure against the auto-renew bug).
If you take the liquidity offers that are available, and then immediately cancel them, you pay nothing, but you artificially reduce the supply of fiat offered, thereby getting better rates for your own liquidity offers.
Something should really be done about this.  Either auto-renew should be re-activated, or people should pay for at least the first hour (perhaps more?) the moment they take a liquidity swap, although this probably is a lot of work to implement. 
Or perhaps the user that is doing this should get a warning?

[gizmoh]

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

Your offer was 'taken' then immediately after cancelled.Happened to me also over 5 times.
Some guy/robot has been repeatedly asking $120k to $200k at 0.9199% rate,so that every loan offers gets eaten.He immediately refund the loans.
He then hopes his lending offer of 50k at 0.92% which becomes the best rate available gets taken. Even if auto-renewed is set, it takes over a minute to kick in.

Like i said a penalty for cancellation within the hour should be applied.
And this lender should definitely get a warning, so guys do email support@bitfinex.com

[superbit]

Question:

Perhaps a dozen times this evening I've offered to swap ('lend') +30k USD for 30 days at a high interest rate. Repeatedly my offer is on the books for a short period, and then is either briefly accepted and then kicked back to my 'swappable balance' or appears to go directly to 'swappable balance.' What is going on here? Why can't I just offer it and know it will remain on offer until it is accepted??

Thanks in advance ...

Your offer was 'taken' then immediately after cancelled.Happened to me also over 5 times.
Some guy/robot has been repeatedly asking $120k to $200k at 0.9199% rate,so that every loan offers gets eaten.He immediately refund the loans.
He then hopes his lending offer of 50k at 0.92% which becomes the best rate available gets taken. Even if auto-renewed is set, it takes over a minute to kick in.

Like i said a penalty for cancellation within the hour should be applied.
And this lender should definitely get a warning, so guys do email support@bitfinex.com

This would be fixed if bitfinex just charged 1 hour interest for 0-59 minutes 2 hours from 60 - 119 minutes etc...  Please implement this immediately!!

[Ente]

This would be fixed if bitfinex just charged 1 hour interest for 0-59 minutes 2 hours from 60 - 119 minutes etc...  Please implement this immediately!!

I agree.
A "warning" might or might not work for this person, but he surely won't be the last one discovering this strategy.
So, I would too suggest a minimum lending time paid. One hour might even be too little, as this is still cheap enough for this malicious tactic.
How about a "x% of total lending time" as a minimu,, which is immediately paod upon taking the offer? That would make it more expensive to wipe out 30 day offers. And would be an incentive for people to actually make 30 day offers too.

Ente

[stillfire]

I think this whole behaviour could be cancelled out by making auto-renew instant. So the moment the money comes back to the lender, the offer to lend is renewed. Since the creation of the new offer is automatic and only conditioned on a single flag (whether auto-renew is still on) this should be a very lean and fast operation CPU wise for Bitfinex.

Now with this in place if you take all offers and cancel them, the offers will just immediately reappear, and you lost 1 hour of interest money for nothing.

It's like auto-renew but instant and without this apparently expensive timer batch job.

[TalkingBit]

Auto renew won't fix this. Warnings are useless as well, if the system is made so it can be rigged it will be. If first hour is free what's stopping someone from putting an offer at 0.92% and eat up all offers up to 0.9199% and then cancel within say 10min. Chances are it'll fly.

[TalkingBit]

...probably as a measure against the auto-renew bug...

What bug? That'd explain why it's gone

[urwhatuknow]

Dear All

it's funny how starting to talk about something ( people taking and giving back loans in a matter minutes) actually became a self fulfilling prophecy.

When a couple of days ago a newbie ( can't remember his name and I'm too busy/lazy to go back and check it ) started to scream about it, the number of these "operations" was really close to zero.
The reason why we kept this open was because it wasn't a problem ( at least until that particular moment) and we thought people opening a position by mistake should be allowed to close it without penalty.

Now, in the last hours we have seen a raise in this kind of behavior and we decided to change this rule.

Starting from now every single position opened will be charged at least one hour.

I apologize in advance for penalizing distracted/lazy traders that didn't collect liquidity before opening their leveraged position.
Not much we can do for you as we have to act in order to limit the silliness of some smart ass.

I hope the above mentioned smart ass wont read this post and go on with his nonsense, so that he will find out the hard way that is better to go playing basketball on a sunday instead of trying to rig the market.

Have a good day and a wonderful sunday

Giancarlo
Bitfinex Team

[Timetwister]

Thanks, Giancarlo. Well done.