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

[bearproof]

Hi there,
I was thinking of how minimizing risk on usd swaps, lets say I have 1000 u$d, is it less risk to instead to make an offer of all the money at once, make 10 offers of 100 u$d ?
What I want is to instead to lend the 1000's to one person do it to 10 persons, 100 each, may be I can wait a fill between each 100's offers...
It wolud be nice some insight from bitfinex to explain if this is possible...

[Sukrim]

There is no real risk that I'm aware of that would substantially change if you lend to several people instead of one. People who borrow from you can ONLY trade the USD, not withdraw them - this is not BTCJam!

[bearproof]

There is no real risk that I'm aware of that would substantially change if you lend to several people instead of one. People who borrow from you can ONLY trade the USD, not withdraw them - this is not BTCJam!

Yes, the risk is that some big flash crash prevent the system to liquidate all margin calls and bitfinex ends with no other option to transfer the loss to lenders...

[Sukrim]

They have been asked about this (where to take money from: people who were providing the money for these trades, all lenders that had money lent out at that time (even ones that were covering for LTCUSD), all "deposit" wallets in the whole platform or something else...

The answer was that they would cover everything from their "insurance" pockets and I guess after that money is used up, they'd go bankrupt. In any case in such an event I wouldn't worry too much about if I was lending out 10*100 USD or 1*1000... I'd rather quickly look for a way to get everything out there as fast as possible instead.

[golikcoin]

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 ?

up 

[DoubleSwapper]

Looks like we're getting a live answer unfolding in front of us for why BFX has pulled out of Bitstamp. You sneaky guys didn't say anything but now it's getting clearer.

https://bitcointalk.org/index.php?topic=751743.0

[Speckle21]

I keep getting the error "you can't double click on the transfer button" whenever i'm moving money between wallets. The thing is i'm NOT double clicking at all. But this error keeps me from moving things, i have to retry several times for it to work.

What's causing this error and how do i fix it?

[fonzie]

I keep getting the error "you can't double click on the transfer button" whenever i'm moving money between wallets. The thing is i'm NOT double clicking at all. But this error keeps me from moving things, i have to retry several times for it to work.

What's causing this error and how do i fix it?

Avoid double-clicking!

[itsproblem2]

Hello,

sorry about the newbish question:

but if the time of the swap in a margin position runs out, with no unused swaps to fill in for, will it claim the position or will it automatically get new swaps form the lendbook?

Cheers

[Sukrim]

It will re-borrow new funds until your position is covered at the rate that is the cheapest at that time automatically.

[itsproblem2]

Thanks alot!

[itsproblem2]

another question:

there is a 1 hour minimum charge on a new swap. after that time, how is the swaptime calculated? per minute, per hour (so it would make more sense to close a swap closer to the next hour)?

Also I understand it correctly, that you only pay a fee for the swapduration, not for taking the swap itself (apart from the one hour minimum).

Cheers

[tooil]

Looks like we're getting a live answer unfolding in front of us for why BFX has pulled out of Bitstamp. You sneaky guys didn't say anything but now it's getting clearer.

https://bitcointalk.org/index.php?topic=751743.0

This is the issue with Bitstamp and not BFX.

Apparently, one UK intermediate bank is refusing to service bitcoin related business.

[bertlebbert]

Trying to set up SMS/Text based authentication, I get the following notification:

Your phone OTP setup is currently pending. Please check your emails
Please activate javascript from ringcaptcha.com to verify your phone number.

Can anyone explain how to activate the javascript or cancel the request?

I sent a couple of emails to support@bitfinex.com, but nobody seems to be home.

[ImI]

How long does the Verfication usually last? I sent the docs, pics, etc one week ago.

[Speckle21]

I keep getting the error "you can't double click on the transfer button" whenever i'm moving money between wallets. The thing is i'm NOT double clicking at all. But this error keeps me from moving things, i have to retry several times for it to work.

What's causing this error and how do i fix it?

Avoid double-clicking!

Re-read my post.

I'm NOT double clicking, but the error keeps happening.

[Bitcollector]

Hello,

sorry about the newbish question:

but if the time of the swap in a margin position runs out, with no unused swaps to fill in for, will it claim the position or will it automatically get new swaps form the lendbook?

Cheers

The question is a good theoretical one, but with $18 million waiting to be lent, I think it will 100 years before that happens.

[Bitcollector]

How long does the Verfication usually last? I sent the docs, pics, etc one week ago.

The verification should last forever, once you are verified, or do you mean how long does it take?

[DoubleSwapper]

Pretty sure everybody here is aware of it and what I'm pointing out is quite obvious but HOLY SHIT has the Interest rate hit rock bottom! It's so low we have already dipped multiple times into 0.03xxx for a short time like the other guy her has predicted before. We'll need a lot of bullishness to kick this rate back up. The sum of active swaps is now at 18.5 m which is like nearly half of our maximum where interest rate was just roughly at 0.1x-0.2x

We have been this low before after the bubble burst and bitcon came down from 8xx but if you realize that the huge increase in swap rate was basically the result of manipulation which was exposed by BitcoinIdiotDude (RIP!) and subsequently fixed by BFX I believe lenders are in for rough times and won't see 0.2x for a long, long time if ever.
0.04% per day is roughly 16 % per year compounded so this is slowly getting unattractive for the risk lenders take but I'm sure there are more than enough people to shove their money over because even 16 % is more than you ever see at a bank which unfortunately means we will likely drop even lower without more rampant bullishness.

Looks like we're getting a live answer unfolding in front of us for why BFX has pulled out of Bitstamp. You sneaky guys didn't say anything but now it's getting clearer.

https://bitcointalk.org/index.php?topic=751743.0

This is the issue with Bitstamp and not BFX.

Apparently, one UK intermediate bank is refusing to service bitcoin related business.

Have I said anything different? Of course the problem is with Bitstamp which is why I believe BFX has pulled out. Similar situation to MtGox where BFX pulled out in time. Not saying Bitstamp is of the same caliber as the huge MtGox scam but they are definitely having problems.

[Ente]

Did the calculation of the liquidation price change? From yesterday to today, it went up by 50$ unexpectedly.

Please provide us the exact formula how this is calculated.

Ente

I know it's sunday and all, but this is -for me- a very urgent question!

Can anyone else confirm that the liquidation price changed abruptly some days ago?

Ente