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

[coins101]

Guess I'm a new customer.

I'm in the UK. Do I need to open a US dollar account with my bank to be able to trade?

Any restrictions on overseas customers?

Thanks.

[Dalmar]

Something like this will soon appear on bitfinex:



 

[TwinWinNerD]

IS there a history page for trades on DRK?

I remember there used to be a "Public history" or smthg.

Thx

[unclescrooge]

Hello guys,

So our silence is finally broken: yes we added DRK. Now I want to address all of our dear long term users that were sceptical about this move.
First, not only are DRK pairs exchange only, but DRK in trading wallet are not used as collateral for margin positions. At all.
Secondly we are committed to respect the laws that applied to a financial platform like Bitfinex, including due diligence on KYC/AML policies (as the most recent users can probably attest ). However, this should not prevent us to express what we feel is right, in this case financial privacy. We do not believe (and have been advised on the matter) that adding an "anonymity-oriented" crypto-currency poses any kind of legal threat. Read Satoshi's paper to understand that Bitcoin itself is a challenge to the existing rules/system.

Finally I have made my best to make DRK mentions as non intrusive as possible for those that don't want the current front-end to be invaded.

Long story short, don't leave us, we love you

Have a good day
Raphael

@coins101: You can make a wire directly from your GBP bank account, you should be able to request the receiving currency to be USD. Otherwise funds are converted in USD upon receival (but at probably a less interesting rate).

[unclescrooge]

IS there a history page for trades on DRK?

I remember there used to be a "Public history" or smthg.

Thx

Unfortunately not, either we find the time to put up trades history for all pairs or third parties pick up on this.

Raphael

[Joshuar]

Hello guys,

So our silence is finally broken: yes we added DRK. Now I want to address all of our dear long term users that were sceptical about this move.
First, not only are DRK pairs exchange only, but DRK in trading wallet are not used as collateral for margin positions. At all.
Secondly we are committed to respect the laws that applied to a financial platform like Bitfinex, including due diligence on KYC/AML policies (as the most recent users can probably attest ). However, this should not prevent us to express what we feel is right, in this case financial privacy. We do not believe (and have been advised on the matter) that adding an "anonymity-oriented" crypto-currency poses any kind of legal threat. Read Satoshi's paper to understand that Bitcoin itself is a challenge to the existing rules/system.

Finally I have made my best to make DRK mentions as non intrusive as possible for those that don't want the current front-end to be invaded.

Long story short, don't leave us, we love you

Have a good day
Raphael

@coins101: You can make a wire directly from your GBP bank account, you should be able to request the receiving currency to be USD. Otherwise funds are converted in USD upon receival (but at probably a less interesting rate).

Nice to hear! Leave you? If anything, there'll be a big increase in the users that Come to you, I will definitely be among them.

[DoubleSwapper]

Hello guys,

So our silence is finally broken: yes we added DRK. Now I want to address all of our dear long term users that were sceptical about this move.
First, not only are DRK pairs exchange only, but DRK in trading wallet are not used as collateral for margin positions. At all.
Secondly we are committed to respect the laws that applied to a financial platform like Bitfinex, including due diligence on KYC/AML policies (as the most recent users can probably attest ). However, this should not prevent us to express what we feel is right, in this case financial privacy. We do not believe (and have been advised on the matter) that adding an "anonymity-oriented" crypto-currency poses any kind of legal threat. Read Satoshi's paper to understand that Bitcoin itself is a challenge to the existing rules/system.

Finally I have made my best to make DRK mentions as non intrusive as possible for those that don't want the current front-end to be invaded.

Long story short, don't leave us, we love you

Have a good day
Raphael

@coins101: You can make a wire directly from your GBP bank account, you should be able to request the receiving currency to be USD. Otherwise funds are converted in USD upon receival (but at probably a less interesting rate).

If you're already here, please clarify your relation to Bitstamp. Are you still using Bitstamp to provide depth on the order book or not?

[arbitrage001]

Dear Customers

We are pleased to announce that Darkcoin will be available to trade on the Bitfinex platform starting today at 6PM GMT.  
It is rare for us to add new trading products, but we believe that the advent of privacy-centric cryptocurrencies warrants out attention.  
Specifically, we believe that Darkcoin and the team behind it represent the most credible foray into this important frontier, and now that Darkcoin's market capitalization has reached non-trivial levels, we have decided to offer it as a trading option to our customers.  
As one might expect, will support trading in DRK/BTC, but, in addition, we will the first exchange to support trading in DRK/USD.  

While we have no crystal balls at Bitfinex, we do nonetheless believe that the new features that Darkcoin aims to implement represents a substantial development in the cryptocurrency space, and we believe that any innovation that enhances privacy deserves our attention.  
Naturally, we do not condone the use of Darkcoin for illicit purposes, but we do believe in the right to privacy.

Initially, we will only offer cash exchange transactions.  
In time, as our order book deepens and Darkcoin successfully navigates certain milestones, we will also possibly allow swap leverage and shorting, should Darkcoin's risk profile and volatility merit it.
For the same reason DRK cannot be used as a collateral for leverage.  
We hope that you that you find these new trading products to be of value to you and we of course, always welcome your feedback.

Have a good day

Giancarlo
Bitfinex Team

You guys are usually ahead of the curve. Looking forward to see darkcoin to replace litecoin on the total market cap.

[arbitrage001]

Forgot to ask.

What is the fee structure for darkcoin?

Same as litecoin (maker/taker and volume) ?


And does litecoin volume factor in also?

[bjornw]

IS there a history page for trades on DRK?

Unfortunately not, either we find the time to put up trades history for all pairs or third parties pick up on this.

Could you please contact those girls over at SierraChart and BitcoinWisdom and have them add DRK? If you do not want to then I can post in the SierraChart forum (paying subscriber) and e-mail bitcoinwisdom.

There are many arguments for and against DRK here but at the end of the day.. if I can trade it and make a profit then it's all good.

I'm adding them to http://www.bfxdata.com now, not a girl, but I'll add it anyway

[Ente]

IS there a history page for trades on DRK?

Unfortunately not, either we find the time to put up trades history for all pairs or third parties pick up on this.

Could you please contact those girls over at SierraChart and BitcoinWisdom and have them add DRK? If you do not want to then I can post in the SierraChart forum (paying subscriber) and e-mail bitcoinwisdom.

There are many arguments for and against DRK here but at the end of the day.. if I can trade it and make a profit then it's all good.

I'm adding them to http://www.bfxdata.com now, not a girl, but I'll add it anyway

Great, thank you! :-)

Ente

[bjornw]

I'm adding them to http://www.bfxdata.com now, not a girl, but I'll add it anyway

Here you go folks:

http://www.bfxdata.com/bitfinexOrderbookDRKUSD.php
http://www.bfxdata.com/bitfinexOrderbookDRKBTC.php

[BitBits]

I see 2 days swaps are going out instead of the number of days offered. This is for sure system's mistake/glitch as such swaps were entered via auto-lending feature. Could the team check this please.

[noggin-scratcher]

I see 2 days swaps are going out instead of the number of days offered. This is for sure system's mistake/glitch as such swaps were entered via auto-lending feature. Could the team check this please.

That appears to be what happens now if a swap offered for, say, 30 days is matched against a demand for 2 days. Which I suppose makes sense - it was always set as a maximum allowed time, and the trader can cancel whenever they want... so why not let them define that up front. I prefer to know their intention than have it say "30 days" if they're only ever going to keep it for 2.

[Ente]

I see 2 days swaps are going out instead of the number of days offered. This is for sure system's mistake/glitch as such swaps were entered via auto-lending feature. Could the team check this please.

That appears to be what happens now if a swap offered for, say, 30 days is matched against a demand for 2 days. Which I suppose makes sense - it was always set as a maximum allowed time, and the trader can cancel whenever they want... so why not let them define that up front. I prefer to know their intention than have it say "30 days" if they're only ever going to keep it for 2.

Either way, it's out of control of the provider, and only the taker's decision.

Which reminds me of the old feature-request to "renew this loan another x days"! :-)

Ente

[BitBits]

I see 2 days swaps are going out instead of the number of days offered. This is for sure system's mistake/glitch as such swaps were entered via auto-lending feature. Could the team check this please.

That appears to be what happens now if a swap offered for, say, 30 days is matched against a demand for 2 days. Which I suppose makes sense - it was always set as a maximum allowed time, and the trader can cancel whenever they want... so why not let them define that up front. I prefer to know their intention than have it say "30 days" if they're only ever going to keep it for 2.

No, it is not suppose to happen like that.
What lender sets is the minimum days which he/she is willing to offer swaps for. This is how the system is normally registering such swaps, once they are taken. The same goes for trader. The only difference between trader and lender offers is that trader will get swaps matching his minimum days AND the ones that are longer (because longer duration swap offers are inclusive from trader's point of view).
If this part (days matching) does not work, there will be no point operating with days at all.

[Ente]

No, it is not suppose to happen like that.
What lender sets is the minimum days which he/she is willing to offer swaps for. This is how the system is normally registering such swaps, once they are taken. The same goes for trader. The only difference between trader and lender offers is that trader will get swaps matching his minimum days AND the ones that are longer (because longer duration swap offers are inclusive from trader's point of view).
If this part (days matching) does not work, there will be no point operating with days at all.

This is not the case.
The lender sets the maximum time. After that time, the loan is closed automatically.
At *any* time, the taker can close the loan. He pays for every hour, with one hour minimum.

The taker may enter "10k USD for 2 days", and will scoop up all offers there are, until he has 10k USD lent, or the offers are too expensive. If there was a 7 day offer, he takes it with a 2 day runtime. That loan will be closed after 2 days, no matter what.

Which gives me an idea - how about taking the loan for 7 days, in this example, nevertheless? The taker is free to close it after 2 days anyway!

Ente

[nrd525]

Active swaps is at $22 million (up from $20 million yesterday).  During the last bubble the swaps seemed to expand at a rate sufficient to keep the swap rate down to 0.2% (as some users respond fairly quickly to high swap rates by wiring in money).  On the other hand when demand falls, I haven't seen the money wired out as quickly.

[superbit]

Active swaps is at $22 million (up from $20 million yesterday).  During the last bubble the swaps seemed to expand at a rate sufficient to keep the swap rate down to 0.2% (as some users respond fairly quickly to high swap rates by wiring in money).  On the other hand when demand falls, I haven't seen the money wired out as quickly.

Money comes in during the high rates much faster than it gets wired out during the low rates.  When BTC stabilizes again I definitely see rates fall well below the 0.1% they were sitting around.

[gizmoh]

Active swaps is at $22 million (up from $20 million yesterday).  During the last bubble the swaps seemed to expand at a rate sufficient to keep the swap rate down to 0.2% (as some users respond fairly quickly to high swap rates by wiring in money).  On the other hand when demand falls, I haven't seen the money wired out as quickly.

No, During the last bubble,from mid November to mid January  FRR was from 0.3% to 0.7%
Check the charts!