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

[climbguy]

referral code.  During the signup process, the system provides the option to enter a referral code.

Does bitfinex provide referral codes to its clients to distribute?  If so where do I get mine?

Also, if I refer a customer, what sort of commission is offered?

thanks!

[Xiaoxiao]

referral code.  During the signup process, the system provides the option to enter a referral code.

Does bitfinex provide referral codes to its clients to distribute?  If so where do I get mine?

Also, if I refer a customer, what sort of commission is offered?

thanks!

10% off 1st 30 days and 5% off for life... my generous service.

[climbguy]

referral code.  During the signup process, the system provides the option to enter a referral code.

Does bitfinex provide referral codes to its clients to distribute?  If so where do I get mine?

Also, if I refer a customer, what sort of commission is offered?

thanks!

10% off 1st 30 days and 5% off for life... my generous service.

Maybe my request wasn't clear, I am looking to refer people to the exchange and want a code that is linked to me.

[Valky]

Feature request:

Pls focus login textbox on showing popup. Really annoying.

[jatto2]

On the History -> Performance Summary.

I would like to see my DRK Volume traded in the last 30 days.

Is it possible?

[BitBits]

...As far as support tools, that is one of the top items on my plate right now (besides getting caught up with these forums, etc). I have used JIRA in the past, as well as Kayako (JIRA is more for software bug tracking). I will take a look at UserVoice. We are basically trying to upgrade all of those parts of Bitfinex, to provide the best customer service. I was brought on board specifically to find the areas we can improve and hopefully improve them.

I hope I will be stating the obvious, but just in case, if any of the third party script is used, it should be installed on a separate server with the subdomain mapped to that server. This is about security...

[bjornw]

Hi all,

I've added new features to http://www.bfxdata.com.

• Complete Swap history (april 2013 - today) for USD, BTC and LTC ("Bitfinex Swap" menu -> Symbol -> Historic)
• Volex vs Vwap over Time for BTC, LTC and DRK (new "Sentiment" menu -> Volex)
• Last but not Least: Long vs Short Swaps ("Sentiment" menu -> Long vs Short)

The Long vs Short page contains a chart with the Total Sum of Active Swaps, where BTC and LTC Swaps are expressed in USD equivalent using vwap. A 2nd chart uses Hourly opened Swaps, also shorts in USD equivalent.

Hope you'll like the new features, all feedback is greatly appreciated! Have a nice weekend! Ow and can someone cause a little rally ;P

[Ente]

Hi all,

I've added new features to http://www.bfxdata.com.

• Complete Swap history (april 2013 - today) for USD, BTC and LTC ("Bitfinex Swap" menu -> Symbol -> Historic)
• Volex vs Vwap over Time for BTC, LTC and DRK (new "Sentiment" menu -> Volex)
• Last but not Least: Long vs Short Swaps ("Sentiment" menu -> Long vs Short)

The Long vs Short page contains a chart with the Total Sum of Active Swaps, where BTC and LTC Swaps are expressed in USD equivalent using vwap. A 2nd chart uses Hourly opened Swaps, also shorts in USD equivalent.

Hope you'll like the new features, all feedback is greatly appreciated! Have a nice weekend! Ow and can someone cause a little rally ;P

Wow, your page must be the one with the most info available!
One-stop shopping! :-)

It's greatly appreciated, you are doing a gret job here. I only use bfxdata and regular price charts, I scrapped all other sites I used before.

Ente

[DoubleSwapper]

BFX, you have to change something about the way swaps are taken. Since some time my "Swaps currently provided" list is cluttered up with dozens upon dozens of absolutely miniscule offers which guarranteedly nobody took out on their own but are part of some faulty matching algorithm. An offer of approx 6000 led to 3 swaps in the range of 2500, 1000, 1500 and then over thirty swaps at a dollar or even cents. The highlight is single swap undistinguishably from a single cent. Something like $0.01XXX3 Why is this happening? This is not only cluttering up the "swaps currently provided" list but also and much more importantly the "swap history" pages which get more and more inflated by the day.

[DoubleSwapper]

Hi all,

I've added new features to http://www.bfxdata.com.

• Complete Swap history (april 2013 - today) for USD, BTC and LTC ("Bitfinex Swap" menu -> Symbol -> Historic)
• Volex vs Vwap over Time for BTC, LTC and DRK (new "Sentiment" menu -> Volex)
• Last but not Least: Long vs Short Swaps ("Sentiment" menu -> Long vs Short)

The Long vs Short page contains a chart with the Total Sum of Active Swaps, where BTC and LTC Swaps are expressed in USD equivalent using vwap. A 2nd chart uses Hourly opened Swaps, also shorts in USD equivalent.

Hope you'll like the new features, all feedback is greatly appreciated! Have a nice weekend! Ow and can someone cause a little rally ;P

You are doing a great job! With your vast amount of data and your skills would it be possible for you to set up something like a calculator for the historic swap rate? I know you already have a swap calculator for a given rate but I'm talking about something that gives the following:

1. average swap rate over certain amount of time
2. annualized rate (compounding/non compounding)

In a first step I would just really like to see something that says:

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is 0.xxxx" or something like that. To make a real back test for a compounding swap rate you would of course need to use the exact daily averages but I really don't want to demand too much here.
I personally would just be interested in the average daily swap rate from 01-01-2014 to today (26-07-2014) Is there a way for you to calculate that?

Thank you very much in advance! You are providing such a valuable tool!

[BitBits]

Question to Bitfinex technical team about "hidden orders":
It used to be that hidden orders would be executed with the price not originally set, but with the one offered by counter-party. What was happening is that if let's say a hidden order was a sell for $600, but there is a bid for $600.5, seller (owner of hidden order) would get offered $600.5. In this case the "hidden order" indeed remained hidden. To compensate for such advantage, hidden orders were also having lower than regular priority in terms of their execution (meaning that hidden orders are executed after the regular ones, or per some fractional algorithm, you guys came up with).

Right now, hidden orders can be VERY easily discovered. Thus, if you don't see the last execution price matching current bid/ask, you found the "hidden order", so it instantly becomes no longer "hidden". Execution priority right now is also the same as for regular orders, so you know that until hidden order for that particular price "runs out", price is not going to move. The only thing which remains "hidden" right now is the size of such order. For this reason, people may even not want to place their orders, but wait until situation becomes more clear. Moreover, since the use of hidden orders is a rather heavily used feature at Bitfinex (I know this for a fact from personal experience), traders may be discouraged from more active trading and this in turn may be one of the reasons which makes our current trading so incredibly "thin". We have some $30 mln in active swaps, yet at times just a few BTCs can move the price several points.

I really liked the old model a lot better, mainly because such orders (even if they are big) did not interfere with natural price movements that much. I also have a strong feeling that the old model made trade patterns look a lot "smoother" (so to speak). Besides, and as I am sure you know, there are also a lot of concerns out there about order book being very "thin", so the observers out there are comparing our (comparatively speaking) "thin" order book with that huge borrowed swaps volume and naturally concluding that the flash-crash is imminent. If only our hidden orders would be truly hidden as in earlier days, I am pretty sure that there will be a lot more of them on the order book on both sides and we will have curves instead of current rectangles in the trading patterns. Right now even the 10 - 15 BTC orders look (and often behave) like "walls".

Were there any significant reasons for the change in structure of hidden orders?

Thanks.

[bjornw]

In a first step I would just really like to see something that says:

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is 0.xxxx" or something like that. To make a real back test for a compounding swap rate you would of course need to use the exact daily averages but I really don't want to demand too much here.
I personally would just be interested in the average daily swap rate from 01-01-2014 EDIT: 01-04-2013 (dd-mm-yyy) to today (26-07-2014) Is there a way for you to calculate that?

Thank you very much in advance! You are providing such a valuable tool!

Between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day (I used Volume Weighted Average Rate) for the period 01-01-2014 EDIT: 01-04-2013 (dd-mm-yyy) till today 12.00 UTC. So un-compounded that would come to 88,9274 % annually. Do the compounding yourself  

ow, while I'm at it:

USD:
0.24363676973540734048 % (per day)
88,9274 % (annually)
$2282.455 USD average amount per swap

BTC:
0.057396292048379445646 % (per day)
20.9496 % (annually)
6,6623753816802 BTC (average amount per swap)

LTC:
0.039356676351540241087 % (per day)
14.365187 % (annually)
69,01023669836132 LTC (average amount per swap)

[DoubleSwapper]

In a first step I would just really like to see something that says:

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is 0.xxxx" or something like that. To make a real back test for a compounding swap rate you would of course need to use the exact daily averages but I really don't want to demand too much here.
I personally would just be interested in the average daily swap rate from 01-01-2014 to today (26-07-2014) Is there a way for you to calculate that?

Thank you very much in advance! You are providing such a valuable tool!

Between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day (I used Volume Weighted Average Rate) for the period 01-01-2014 till today 12.00 UTC. So un-compounded that would come to 88,9274 % annually. Do the compounding yourself  

ow, while I'm at it:

USD:
0.24363676973540734048 % (per day)
88,9274 % (annually)
$2282.455 USD average amount per swap

BTC:
0.057396292048379445646 % (per day)
20.9496 % (annually)
6,6623753816802 BTC (average amount per swap)

LTC:
0.039356676351540241087 % (per day)
14.365187 % (annually)
69,01023669836132 LTC (average amount per swap)

Oh my, you are fast! Nicely done.

You wrote:

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day (I used Volume Weighted Average Rate) for the period 01-01-2014 till today 12.00 UTC"
So which is what? :-) ^^
For between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day
and for 01-01-2014 till today 12.00 UTC ? I started in January so that is what would come in handy for me.
I'm assuming the latter has to be far lower as the 1 % swaps from 2013 stopped nearly entirely and we had a long period (feb till May or something) for abysmal rates.

How did you calculate it? Is there an easy way to calculate that for myself so I don't have to bother you in the future? Unfortunately BFX doesn't offer this data themselves. It's probably the most important metric for new "investors" to estimate whether lending on bfx is worth it or not.

[bjornw]

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day (I used Volume Weighted Average Rate) for the period 01-01-2014 till today 12.00 UTC"
So which is what? :-) ^^
For between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day
and for 01-01-2014 till today 12.00 UTC ? I started in January so that is what would come in handy for me.
I'm assuming the latter has to be far lower as the 1 % swaps from 2013 stopped nearly entirely and we had a long period (feb till May or something) for abysmal rates.

How did you calculate it? Is there an easy way to calculate that for myself so I don't have to bother you in the future? Unfortunately BFX doesn't offer this data themselves. It's probably the most important metric for new "investors" to estimate whether lending on bfx is worth it or not.

No all calculations in my first post were for april 1 2013 until today 12.00 UTC, typo

Here are the calculations for 01-01-2014 until today 12.00 UTC (free of charge  ):

USD
0.20398005772999340188 % per day
74,4527 % annually
2998,32641861725027 (average amount per swap)

BTC
0.06278128456304585053 % per day
22,9152 % annually
5,69183286033181 (average amount per swap)

LTC
0.043692172678537965439 % per day
15,9476 % annually
67,59164635514019 (average amount per swap)

Calculation: Sum (Transaction Amount * Transaction Rate ) / Sum ( Transaction Amount ) for the selected period. For me it is a few lines in a php script and run it against the db, however it is really hard on the db so I can't (for now at least) just put a page together that runs this query when a visitor specifies a period. It would demand WAY too much resources on my server and kill the rest of the site if a few people at  the same time would run it.  And I would have to write some HTML/CSS and I don't feel like doing that today  . I might do something like a weekly / monthly / quarterly / yearly / all time average soon. Quite a nice suggestion you did actually...  and put it in some tables and charts. for now I have to do it manually  

[DoubleSwapper]

"Between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day (I used Volume Weighted Average Rate) for the period 01-01-2014 till today 12.00 UTC"
So which is what? :-) ^^
For between the 01-04-2013 and 26-07-2014 the average daily swap rate is: 0.24363676973540734048 % per day
and for 01-01-2014 till today 12.00 UTC ? I started in January so that is what would come in handy for me.
I'm assuming the latter has to be far lower as the 1 % swaps from 2013 stopped nearly entirely and we had a long period (feb till May or something) for abysmal rates.

How did you calculate it? Is there an easy way to calculate that for myself so I don't have to bother you in the future? Unfortunately BFX doesn't offer this data themselves. It's probably the most important metric for new "investors" to estimate whether lending on bfx is worth it or not.

No all calculations in my first post were for april 1 2013 until today 12.00 UTC, typo

Here are the calculations for 01-01-2014 until today 12.00 UTC (free of charge  ):

USD
0.20398005772999340188 % per day
74,4527 % annually
2998,32641861725027 (average amount per swap)

BTC
0.06278128456304585053 % per day
22,9152 % annually
5,69183286033181 (average amount per swap)

LTC
0.043692172678537965439 % per day
15,9476 % annually
67,59164635514019 (average amount per swap)

Calculation: Sum (Transaction Amount * Transaction Rate ) / Sum ( Transaction Amount ) for the selected period. For me it is a few lines in a php script and run it against the db, however it is really hard on the db so I can't (for now at least) just put a page together that runs this query when a visitor specifies a period. It would demand WAY too much resources on my server and kill the rest of the site if a few people at  the same time would run it.  And I would have to write some HTML/CSS and I don't feel like doing that today  . I might do something like a weekly / monthly / quarterly / yearly / all time average soon. Quite a nice suggestion you did actually...  and put it in some tables and charts. for now I have to do it manually  

Thank you. Keep up the good work! I really hope BFX supports you as best as they can as you are providing the absolute best analyzing tool for any of the exchanges to the point where it becomes a real reason to stay and interact with BFX.

[Ente]

BFX, you have to change something about the way swaps are taken. Since some time my "Swaps currently provided" list is cluttered up with dozens upon dozens of absolutely miniscule offers which guarranteedly nobody took out on their own but are part of some faulty matching algorithm. An offer of approx 6000 led to 3 swaps in the range of 2500, 1000, 1500 and then over thirty swaps at a dollar or even cents. The highlight is single swap undistinguishably from a single cent. Something like $0.01XXX3 Why is this happening? This is not only cluttering up the "swaps currently provided" list but also and much more importantly the "swap history" pages which get more and more inflated by the day.

Months ago, Giancarlo wrote about this when the behavior changed:

Lets assume I took five $10 swaps some time ago. You have a $100 offer up, which is the best offer, and with a better rate than my initial swaps. I close mine, and my position is refilled with $50 I borrow from you.
So far so good.
However, the engine makes me take five $10 swaps from you. Even though they are all from you, and opened at the same time.
Fast-forward a few months, where everyone has some position open, everyone has auto-lend active, and people replace old or expensive swaps with better ones: voila, the number of swaps grows infinite.

It is almost impossible to do anything against it, like "defragmenting", with the current engine behavior. Even when you wait until all your funds are returned, and then make one big offer again, people will come and take minuscule amounts because they replace minuscule amounts.

And with every "step" it all fragments more and more.

This behavior takes up a lot of my spare/bitcoin time, when I have to mark dozens, hundreds of tiny swaps to replace them. I do this for months now, and don't even want to know how many swaps I marked, replaced and fragmented since then.

And, that's why I asked for the feature of "combining swaps into one line with a +/- button" a few posts above.

Ultimately, I guess this exponential fragmentation will kill all servers where the engine works on, and maybe they change that behavior then ;-)

Ente

[sleger]

We should always be aware that Bitfinex is not the only site for margin trading, there is also icbit.se, although their futures-based system takes some effort to understand.  It is always worth it to compare the swap rate at Bitfinex with the contango at icbit.  Right now their contango is equivalent to 0.13 %/day

No, the equivalent is 0.1% per day

[Ente]

We should always be aware that Bitfinex is not the only site for margin trading, there is also icbit.se, although their futures-based system takes some effort to understand.  It is always worth it to compare the swap rate at Bitfinex with the contango at icbit.  Right now their contango is equivalent to 0.13 %/day.  You need to factor in that icbit has low volume and no stop-loss mechanism, you risk to get caught in an unfavourable position.  On the other hand, the price spikes are smaller (and on purpose limited within a trading period), so they do not have the problem of sudden spikes that can trigger stop-losses in a way you regret later.

I think a bit more competition between the two sites would benefit us all.

We should always be aware that Bitfinex is not the only site for margin trading, there is also icbit.se, although their futures-based system takes some effort to understand.  It is always worth it to compare the swap rate at Bitfinex with the contango at icbit.  Right now their contango is equivalent to 0.13 %/day.  You need to factor in that icbit has low volume and no stop-loss mechanism, you risk to get caught in an unfavourable position.  On the other hand, the price spikes are smaller (and on purpose limited within a trading period), so they do not have the problem of sudden spikes that can trigger stop-losses in a way you regret later.

I think a bit more competition between the two sites would benefit us all.

Are you kidding me?

Ente

[TwinWinNerD]

We should always be aware that Bitfinex is not the only site for margin trading, there is also icbit.se, although their futures-based system takes some effort to understand.  It is always worth it to compare the swap rate at Bitfinex with the contango at icbit.  Right now their contango is equivalent to 0.13 %/day.  You need to factor in that icbit has low volume and no stop-loss mechanism, you risk to get caught in an unfavourable position.  On the other hand, the price spikes are smaller (and on purpose limited within a trading period), so they do not have the problem of sudden spikes that can trigger stop-losses in a way you regret later.

I think a bit more competition between the two sites would benefit us all.

We should always be aware that Bitfinex is not the only site for margin trading, there is also icbit.se, although their futures-based system takes some effort to understand.  It is always worth it to compare the swap rate at Bitfinex with the contango at icbit.  Right now their contango is equivalent to 0.13 %/day.  You need to factor in that icbit has low volume and no stop-loss mechanism, you risk to get caught in an unfavourable position.  On the other hand, the price spikes are smaller (and on purpose limited within a trading period), so they do not have the problem of sudden spikes that can trigger stop-losses in a way you regret later.

I think a bit more competition between the two sites would benefit us all.

Are you kidding me?

Ente

He forgot that he was logged into his sock puppet

[nrd525]

Icbit.se comparisons are important, but I'd like to know a lot more about the platform and the people behind it before I'd use it.