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

[gentlemand]

https://archive.fo/C44kh

Maybe Tether's business model is to cause its own FUD? They know perfectly well it's fine. They also know perfectly well how moronic and easily led most people are. All you got to do is drop some scares, buy USDT cheap and then let the doom run its course until it's back to parity again. Someone could've made 15% for nothing over this.

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[FractalUniverse]

eosfinex beta  is scheduled for launch within 2 weeks?
thats soo exciting 

[Bonez0r]

Tried to withdraw fiat (express withdrawal), still nothing received after a month. After some mailing back and forth, i managed to cancel the withdrawal. So instead i'm now trying to withdraw the money in usdt. Withdrawal initiated more than 2 hours ago and still 'processing'. I know it can theoretically take up to 12 hours, but i'm fed up with this exchange now. I've been customer for years but i'm now withdrawing everything i can out of there. Their dev team is excellent, but the business side and everything related to banking and withdrawals is atrocious. If they ever turn into a reliable exchange, i might return. Until then i'll watch from the sidelines.

Separate issue: The amount sent in the withdrawal is mysteriously 18 usd less than it should be. It's not the withdrawal fee, because that's 20 usd and i also disabled 'take fee from amount', so the amount on the receiving end should be what i enter in the withdrawal form, but it's 18 usd less. Does anyone recognize this issue or knows what's going on?

edit: withdrawal complete now.

[gentlemand]

Their dev team is excellent, but the business side and everything related to banking and withdrawals is atrocious. If they ever turn into a reliable exchange, i might return. Until then i'll watch from the sidelines.

The banking is totally out of their hands and always will be unless they buy their own bank, which'll be instantly shunned.

If I were them I would've become crypto only a long time back. Still a ton of money to be made and vastly less head aches too. It's fiat that causes all the problems.

[squatter]

Their dev team is excellent, but the business side and everything related to banking and withdrawals is atrocious. If they ever turn into a reliable exchange, i might return. Until then i'll watch from the sidelines.

The banking is totally out of their hands and always will be unless they buy their own bank, which'll be instantly shunned.

If I were them I would've become crypto only a long time back. Still a ton of money to be made and vastly less head aches too. It's fiat that causes all the problems.

That's not entirely true, given that Shapeshift and IDEX are now enforcing KYC, and 1Broker and EtherDelta got charged by the US government.

Going altcoin-only might have killed their market share too. It's hard to compare to altcoin exchanges like Binance because those exchanges all piggybacked on USDT liquidity. Bitfinex never really had that opportunity -- they're the bank. Without fiat and USDT markets, I think Bitfinex and exchanges like Binance and Bittrex would be much less liquid and much less profitable.

[Bonez0r]

Their dev team is excellent, but the business side and everything related to banking and withdrawals is atrocious. If they ever turn into a reliable exchange, i might return. Until then i'll watch from the sidelines.

The banking is totally out of their hands and always will be unless they buy their own bank, which'll be instantly shunned.

I mean compared to other exchanges. I use Kraken as well and i've never had any fiat withdrawal problems there.

The other thing that bugs me is that they don't even admit to having problems. They tweet about having processed billions worth of withdrawals in October, yet they can't process mine and those of other people i've read complaints from?

[gentlemand]

I mean compared to other exchanges. I use Kraken as well and i've never had any fiat withdrawal problems there.

The other thing that bugs me is that they don't even admit to having problems. They tweet about having processed billions worth of withdrawals in October, yet they can't process mine and those of other people i've read complaints from?

Kraken's had their fair share of problems too, primarily with USD. Their EUR banking relationship has always been rock solid as far as I can tell.

Bitfinex themselves have said they bank like criminals, opening shell accounts and keeping banks in the dark. That's not going to be conducive to smooth sailing. And of course they had no banking for months a while back.

I wouldn't ever bother with them for attempting to obtain fiat. There are better options and always have been.

[mayax]

Bitfinex has always  been a shit exchanger. No licenses, no real office, they always hide.

[European Central Bank]

Bitfinex has always  been a shit exchanger. No licenses, no real office, they always hide.

were you molested by an exchange as a kid? you seem to spread hate about every single one out there.

some of it's valid but there are still better things to do with your time.

[mayax]

Bitfinex has always  been a shit exchanger. No licenses, no real office, they always hide.

were you molested by an exchange as a kid? you seem to spread hate about every single one out there.

some of it's valid but there are still better things to do with your time.

i do what I want with my time. Bitfinex is a pure fraud as many, many other exchangers. You are just a shill...

[European Central Bank]

i do what I want with my time. Bitfinex is a pure fraud as many, many other exchangers. You are just a shill...

i don't really care in the slightest about bitfinex. you are an inverse shill, but shills are usually obsessed with one pet. you're obsessed with inverse shilling all of them which removes any credibility to the people you're trying to scare.

[mayax]

i do what I want with my time. Bitfinex is a pure fraud as many, many other exchangers. You are just a shill...

i don't really care in the slightest about bitfinex. you are an inverse shill, but shills are usually obsessed with one pet. you're obsessed with inverse shilling all of them which removes any credibility to the people you're trying to scare.

scare? LOL

people who buy bitcoin do so only because they want to turn a quick profit by selling their holdings to a “greater fool” than themselves. this is all the tale with BTC.

[FractalUniverse]

dont know about btc rates, but i have noticed usd rates going much higher during last few days. actually about 10 times higher than month ago, when i took some.. i guess i'll have to take it even with this higher rate, as its expiring tomorrow :/

[Quickseller]

How come Bitfinex BTC lending rates are so low lately? Around 0.27% today and it's been like that for bit.

Lending rates tend to go down when the price is relatively stable or rising moderately. The price hasn’t moved very much since it fell from 6k to just above 3k.

[figmentofmyass]

How come Bitfinex BTC lending rates are so low lately? Around 0.27% today and it's been like that for bit.

because short levels halved over the past few weeks. shorts started getting squeezed on the run to the $4200s and they've been closing ever since. less demand for shorts = lenders offering lower rates.

this doesn't bode well for price, tbh.

dont know about btc rates, but i have noticed usd rates going much higher during last few days. actually about 10 times higher than month ago, when i took some.. i guess i'll have to take it even with this higher rate, as its expiring tomorrow :/

that's because longs keep increasing. everyone's bullish.

[deisik]

How come Bitfinex BTC lending rates are so low lately? Around 0.27% today and it's been like that for bit.

because short levels halved over the past few weeks. shorts started getting squeezed on the run to the $4200s and they've been closing ever since. less demand for shorts = lenders offering lower rates

Actually, interest rates just show interest in asset

As the name itself kinda suggests. Whether it is a positive interest or a negative one is another question as people don't necessarily borrow money to open shorts. They can just easily borrow to open longs. In fact, the highest rates in USD that I ever saw at Bitfinex were exactly when Bitcoin had been skyrocketing. It was obvious that people were buying bitcoins on margin to sell them later when the price rise gave them enough profits. As soon as Bitcoin started to go down, USD interest rates went down too

this doesn't bode well for price, tbh

Nothing bodes well for price presently, and interest rates should be your least concern

[exstasie]

How come Bitfinex BTC lending rates are so low lately? Around 0.27% today and it's been like that for bit.

because short levels halved over the past few weeks. shorts started getting squeezed on the run to the $4200s and they've been closing ever since. less demand for shorts = lenders offering lower rates

Actually, interest rates just show interest in asset

As the name itself kinda suggests. Whether it is a positive interest or a negative one is another question as people don't necessarily borrow money to open shorts. They can just easily borrow to open longs.

He's right that less demand for borrowed BTC is causing lower rates. That's obvious since open interest has dropped by 20K BTC since the last peak. It's safe to say some of that (probably most, really) is BTC/USD short interest because BTC/USD eclipses all the ALT/BTC markets in volume and order book depth. You can only use margin on a limited number of alt markets too.

In fact, the highest rates in USD that I ever saw at Bitfinex were exactly when Bitcoin had been skyrocketing. It was obvious that people were buying bitcoins on margin to sell them later when the price rise gave them enough profits. As soon as Bitcoin started to go down, USD interest rates went down too

The cost of borrowing USD rises when people are bullish on BTC/USD because more people are opening longs. By the same token, the cost of borrowing BTC falls when people are bullish on BTC/USD because less people are opening shorts. These are two sides of the same coin.

Nothing bodes well for price presently, and interest rates should be your least concern

I guess you don't use sentiment as an indicator? I always look at longs vs. shorts and open interest to gauge the commitments of traders. When most traders are piled on one side of the market, they're usually wrong.

[deisik]

How come Bitfinex BTC lending rates are so low lately? Around 0.27% today and it's been like that for bit.

because short levels halved over the past few weeks. shorts started getting squeezed on the run to the $4200s and they've been closing ever since. less demand for shorts = lenders offering lower rates

Actually, interest rates just show interest in asset

As the name itself kinda suggests. Whether it is a positive interest or a negative one is another question as people don't necessarily borrow money to open shorts. They can just easily borrow to open longs.

He's right that less demand for borrowed BTC is causing lower rates

But that's not because of shorts specifically, which was his point exactly

You (and him) seem to forget that it is not just about USD and Bitcoin. Bitcoin to other currencies is the same as the dollar to Bitcoin. For example, people can be buying Litecoin (or any other coin, for that matter) with bitcoins borrowed and in this case no shorts are involved but bitcoins are still get borrowed, right?

Nothing bodes well for price presently, and interest rates should be your least concern

I guess you don't use sentiment as an indicator? I always look at longs vs. shorts and open interest to gauge the commitments of traders. When most traders are piled on one side of the market, they're usually wrong.

When nothing else bodes well, obviously

[sorti75]

I don't receive SMS when i try to withdraw my coins.  Help please!

Ticket number: #561828

Thanks

[bakasabo]

Bitfinex Removes Minimum Equity Requirement Opening Professional Standard Trading to Everyone

From today, Bitfinex has removed its $10,000 minimum equity threshold, opening the world’s most advanced trading platform to everyone.