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

[Delarock]

Can you guys explain the 1.66% spread between finex and stamp? Semms unusual high and isn't closed for quite some time now.

Does it have anything to do with margin trading?

[noggin-scratcher]

bitfinex still not deposited at bitstamp  

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

I thought it had been said that they were disconnecting that link, but I can't remember if it was said here or on Reddit.

Found it: http://www.reddit.com/r/BitcoinMarkets/comments/26ujtk/daily_discussion_friday_may_30_2014/chusxnt

"The status is that we are now an exchange on our own, that we usually have markt makers arbitraging with bitstamp but they have funds limits like we used to have. Long story short, while most of the time our price is in sync, it can diverge"

Not exactly announced as such. Just... quietly mentioned.

[DoubleSwapper]

bitfinex still not deposited at bitstamp  

I don't think they will ever again. They have enought high volume, some times higher than bitstamp. No need for them to work with other exchanges.

well it would be nice to hear that from them, have they said this was the plan?

Unfortunately BFX has made some quite contrary statements. Check my post history to see them. I have asked BFX regarding their situation with Bitstamp and they have not mentioned that they don't use Bitstamp anymore at all. Then suddenly in reddit posting from Raphael I have linked he casually mentions that they don't long act as a broker for Bitstamp. They sould really clarify what's the deal.

Can you guys explain the 1.66% spread between finex and stamp? Semms unusual high and isn't closed for quite some time now.

Does it have anything to do with margin trading?

A higher price if it is not liquidity related (low liquidity, large spread, low bid, high ask....) or fee related (higher fees, higher bid, higher ask) which we can safely rule out at the moment is often a sign of it being less attractive for people to withdraw fiat and instead withdraw btc leading to higher btc prices (think MtGox for a very long time), also the other way around (easier to deposit fiat ->higher btc price). This would fit as BFX offers no SEPA and now has % fees to withdrawals. It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

[Delarock]

It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

It would make sense that the ability to short would keep it in check, but I don't think it's desirable to short right now. I'm no expert, but it looks like the amount of USD swaps out there is considerably higher than the amount of BTC swaps out which would support my point.

I've been keeping an eye on the spread between BFX and Bitstamp for at least a month now, and, from what I can tell, it's now consistently higher at BFX. I'd really like to know where the change came from.

[thehun]

My BTC deposit at Bitfinex is not showing up after 10 confirmations 

Has anyone had a similar issue?

[bigsky101]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

[TwinWinNerD]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

[bigsky101]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong?  I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

[TwinWinNerD]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong?  I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

click on "manage wallets" and move the DRK from deposit account to the exchange account

Bitfinex is very powerful and offers seperate wallets, so that you don't do something stupid!

[bigsky101]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong?  I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

click on "manage wallets" and move the DRK from deposit account to the exchange account

Bitfinex is very powerful and offers seperate wallets, so that you don't do something stupid!

Bingo!!! Thanks, answered all of my questions.  I really appreciate it, I would have eventually figured it out but who knows how long before I would have stumbled upon that.  You saved me a lot of time. 

[TwinWinNerD]

I put a small amount of DRK (less than 10) and .5 BTC in Bitfinex to give it a test drive.

I'd much rather have cash as my margin basis rather than crypto but it seems the only way to do so is to place a margin order for BTC and then claim which is fine (unless there is another way).  My DRK and original .5 BTC is untradable in the Exchange (I found a workaround for BTC as state previously or perhaps its the way its supposed to work) but for DRK I'm not sure how to convert to USD?

Suggestions?  I'm sure I'm missing something simple. 

You can just go to "Exchange" and then to "DRKUSD" and trade for USD.

There is no leverage possible for DRK, also it is not possible to use it as collateral.

If you wouldn't mind looking at my trade here and see what might possibly be wrong?  I'm placing a simple market order for DRK and it is "saying not balance", same thing happens on the Exchange side for BTC even though i have plenty of BTC

http://screencast.com/t/OaQkRdldHBMU

click on "manage wallets" and move the DRK from deposit account to the exchange account

Bitfinex is very powerful and offers seperate wallets, so that you don't do something stupid!

Bingo!!! Thanks, answered all of my questions.  I really appreciate it, I would have eventually figured it out but who knows how long before I would have stumbled upon that.  You saved me a lot of time. 

You are not the first person to miss that little detail.

Have fun on the best exchange out there!!! (by far!)

[thehun]

My BTC deposit at Bitfinex is not showing up after 10 confirmations 

Has anyone had a similar issue?

23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP

[BitCoinNutJob]

Add more crypto, namecoin, PPC perhaps

[dreamspark]

Add more crypto, namecoin, PPC perhaps

Please don't turn it into an alt exchange, drk is enough. There are plenty of places to trade those coins.

[jonsi]

Add more crypto, namecoin, PPC perhaps

No need to add more coins. Keep it just the way it is.

[BitCoinNutJob]

With litecoin and now darkcoin they pretty much are an altcoin exchange, i dont currently own any of these alt coins but would be up for more trading opportunity.  Either way i think more coins will come cant stop the trend.  Bitcoin will be #1.

[thehun]

My BTC deposit at Bitfinex is not showing up after 10 confirmations  

Has anyone had a similar issue?

23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP

Bitfinex, WTF? Are you going to reply to my support ticket soon? More than half a day later my BTC are still in limbo and nobody seems to give a sh*t!!! This is making me lose money so I also hope I will receive some compensation

[DoubleSwapper]

Open longs nearly at 25 m. This is getting intense.

[thehun]

My BTC deposit at Bitfinex is not showing up after 10 confirmations  

Has anyone had a similar issue?

23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP

Bitfinex, WTF? Are you going to reply to my support ticket soon? More than half a day later my BTC are still in limbo and nobody seems to give a sh*t!!! This is making me lose money so I also hope I will receive some compensation

Issue solved. Raphael (admin) contacted me and I got compensated for the delay. Happy ending

[BitCoinNutJob]

My BTC deposit at Bitfinex is not showing up after 10 confirmations  

Has anyone had a similar issue?

23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP

Bitfinex, WTF? Are you going to reply to my support ticket soon? More than half a day later my BTC are still in limbo and nobody seems to give a sh*t!!! This is making me lose money so I also hope I will receive some compensation

Issue solved. Raphael (admin) contacted me and I got compensated for the delay. Happy ending

that is very classy indeed, good job bitfinex.