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

[TalkingBit]

Did Raphael ever share the distribution of USD swaps between LTC and BTC? That'd be interesting to know

[davidgdg]

[...] and I bet you don't even lift.

Waste of time. Just use steroids. Girls can't tell the difference.  

This is rather off-topic but I'll bit anyway.

Steroids will not give you or build muscle. You really do need to lift weights and eat right to do that. This page has some great information on this topic: http://liamrosen.com/fitness.html

You build muscle by lifting progressively heavier weights. Starting Strength is probably the best book on this subject.

Steroids do work and they can help you if you have been lifting for 5-10+ years and met a wall where you are unable to increase the weight you use for your lifts. They do nothing for people who don't lift, novice lifters and basically everyone else for that matter. There is no point in taking them or even considering using them unless you've been lifting a minimum of three times a week for many, many years and even then it would barely make a difference. There is no magic pill you can take that makes muscle just appear without you having to get off your lazy ass and go to the gym three times a week. Also beware that girls will tell the difference and likely leave you if you start messing with roids (mostly due to personality changes, mood-swings, aggressive behaviour and so on, not because of your reduced penis size).

Lifting is good for you but I recommend doing it without the roids. Would you try to steal all the bitcoins from some huge guy who looks like he could kill you without breaking a sweat or would you rather take them from some skinnyfat nerd who couldn't do a pushup if his life depended on it? think about it. who would you rather be?

The trouble is that working out won't make the SFN look like the big guy. It will just make him look like a SFN who works out because he wants to look like the big guy. If your body shape is rubbish, no amount of working out will change that.

[Dalmar]

Did Raphael ever share the distribution of USD swaps between LTC and BTC? That'd be interesting to know

It's probably almost completely BTC. Who in their right mind would hodl litecoin on margin? It just keeps going down week after week.

[davidgdg]

Does anybody know how auto renew at FRR works? Are swap offers for the same duration serviced on a first come first served basis? If not, how does the system determine whose offer is filled first? I have had auto renew FRR offers sitting there unfilled for quite a few days now (My offers are part of a much larger lump of 30 day offers at FRR.)
Thanks
David

[TalkingBit]

Can someone explain the logic of underbidding swap demands?   i.e. placing your swap demand at 0.0999 or one penny bellow that at 0.0998. It's as if you're artificially keeping the demand high while don't really want your demand to be filled  

It makes sense for offers where they're underbidding each other, but if anything i'd expect demands to up each other by a penny and placing demands at 1.0001

[trade-for-pokermoney]

Can someone explain the logic of underbidding swap demands?  i.e. placing your swap demand at 0.0999 or one penny bellow that at 0.0998. It's as if you're artificially keeping the demand high while don't really want your demand to be filled 

It makes sense for offers where they're underbidding each other, but if anything i'd expect demands to up each other by a penny and placing demands at 1.0001

Prolly people who don't fully understand what they are doing!

[TalkingBit]

Can someone explain the logic of underbidding swap demands?   i.e. placing your swap demand at 0.0999 or one penny bellow that at 0.0998. It's as if you're artificially keeping the demand high while don't really want your demand to be filled  

It makes sense for offers where they're underbidding each other, but if anything i'd expect demands to up each other by a penny and placing demands at 1.0001

Prolly people who don't fully understand what they are doing!

I find it very hard to believe that somone who puts a $100k figure swap ask at 0.0999 doesn't know what he's doing or a $350k swap ask just under that @ .099

[Ente]

Can someone explain the logic of underbidding swap demands?   i.e. placing your swap demand at 0.0999 or one penny bellow that at 0.0998. It's as if you're artificially keeping the demand high while don't really want your demand to be filled  

It makes sense for offers where they're underbidding each other, but if anything i'd expect demands to up each other by a penny and placing demands at 1.0001

Prolly people who don't fully understand what they are doing!

I find it very hard to believe that somone who puts a $100k figure swap ask at 0.0999 doesn't know what he's doing or a $350k swap ask just under that @ .099

..maybe they didn't put that 0.0999 after a 0.1 offer was there, but before? And in fact the 0.1 guy overbid the 0.0999 one?

0.09990   14 318.04   19:35:38 10-08-2014
0.09989   100 000.00   20:27:42 10-08-2014

There's at least one who didn't think it hrough, though ;-)

Ente

[Bitcoins101]

Can someone explain the logic of underbidding swap demands?   i.e. placing your swap demand at 0.0999 or one penny bellow that at 0.0998. It's as if you're artificially keeping the demand high while don't really want your demand to be filled  

It makes sense for offers where they're underbidding each other, but if anything i'd expect demands to up each other by a penny and placing demands at 1.0001

Prolly people who don't fully understand what they are doing!

I find it very hard to believe that somone who puts a $100k figure swap ask at 0.0999 doesn't know what he's doing or a $350k swap ask just under that @ .099

..maybe they didn't put that 0.0999 after a 0.1 offer was there, but before? And in fact the 0.1 guy overbid the 0.0999 one?

0.09990   14 318.04   19:35:38 10-08-2014
0.09989   100 000.00   20:27:42 10-08-2014

There's at least one who didn't think it hrough, though ;-)

Ente

I think it's because it's more like a market order per se - so that it fills up all the swap offers up to that amount. Makes sense if you really want to loan ASAP.

[itsproblem2]

Hello,

is it possible (yet) to access the UNUSED Swaps via the API?

Cheers

[nrd525]

Email from Bitfinex says new leverage ratio is 3.33 - starting Aug 18 - 0:00 UTC.

[21pilot]

Email from Bitfinex says new leverage ratio is 3.33 - starting Aug 18 - 0:00 UTC.

which is indeed a decrease in max leverage ratio, because it was possibly to use 3,5:1 (as pointed out in the e-mail ->
using BTC as collateral for a BTC long position) 

I like these changes.

[Ente]

Great to see Bitfinex now sending emails out regularly when changes are announced!
Josh, is that your work? :-)

About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?

Thank you guys,

Ente

[Wolke]

can anyone help me? I'm getting error 400 on order/new

this is the code

http://pastebin.com/zmyxDJyy

the authentication works and it's the same code, the unique difference is on the payload

any idea?

same here, but with visual basic

get runs perfekt -> but we got the error 400 if we use *POST*

anyone an idea ?

[TalkingBit]

It's glitching again, my swap offers are not being posted, but show up in unfilled swap demand/offers.

[leezay]

Great to see Bitfinex now sending emails out regularly when changes are announced!
Josh, is that your work? :-)

About the changes: that 30%/15% numbers, does that mean "I need 30% in real value to back up a position" (pretty clear) and "I can't enlarge my position when I have less than 15% margin (and will eventually be liquidated when that number falls even more)? Or am I all off?

Thank you guys,

Ente

I am a little confused on the rules also. Who is benefiting from the change? Trader or lender?

[PirateHatForTea]

I would say lenders benefit from this, as going forward it provides BFX with more granular control over leverage ratios - in particular, them being able to manage separate max leverage per currency is great. For traders it is probably a small negative or neutral.

It is also a slight reduction in the max effective leverage - 3.33 vs 3.5, though I doubt that this is an active constraint or BFX wouldn't have chosen that number. Going forward they may choose to reduce that number further, especially eg for LTC. That would be bad for traders that like a lot of leverage, and good for lenders. Also good for the ecosystem / reducing systemic risk.

[BitBits]

Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end.  I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.

[mattco]

Is anyone else having issues with 2FA login today?
Tried resyncing my phone time and that didn't help. Maybe my account is locked?

I sent an email to support, please check it asap.

It's fixed.

[Ente]

Hats off to Bitfinex team and Congratulations for perfect handling of the margin call liquidations !!! This was really something, I watched it all in real time.
To everybody else, it is now official, we have some 30 million worth of morons among users, who were holding onto their losing long positions till the very end.  I am trully sorry about your losses, but you did knew perfectly well, all along, about what could happen to your positions, and it did happened.

Quite a harsh statement.

But please, enlighten me, how exactly did it unfold on bitfinex?

Ente