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

[aumusxou]

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

They changed the initial margin to 30% (3.33:1), requiring 15% maintenance margin.  Before, the max was 40% (2.5:1), requiring 13% maintenance.  

They also removed selectable initial margin levels since "most users set it to the max anyway", so if you were at 1:1, 2:1, etc, you can't select those anymore.  

I'm not sure why they would do that.  I thought some may still want 1:1 etc, for the reason you describe: it will lower their maintenance margin & liquidation price (for long).
https://www.bitfinex.com/pages/announcements

[ImI]

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?

yes. how long does it take to get verified?

[tooil]

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?

yes. how long does it take to get verified?

Usually one-two business working day.

[ImI]

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?

yes. how long does it take to get verified?

Usually one-two business working day.

thx! i checked my spam-mails and there it was...

[birr]

Hello, I have a question about using bitfinex:
Does bitfinex allow a user to open a second account?
If someone here has done so, I would like to know, among other things, whether this requires using different email addresses for the two accounts.

[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

They changed the initial margin to 30% (3.33:1), requiring 15% maintenance margin.  Before, the max was 40% (2.5:1), requiring 13% maintenance.  

They also removed selectable initial margin levels since "most users set it to the max anyway", so if you were at 1:1, 2:1, etc, you can't select those anymore.  

I'm not sure why they would do that.  I thought some may still want 1:1 etc, for the reason you describe: it will lower their maintenance margin & liquidation price (for long).
https://www.bitfinex.com/pages/announcements

So I would calculate it with:

{ [ ( position.size.btc * buyprice.usd ) + swapcosts.usd ] * 1.15 } / ( position.size.btc + collateral.btc)

Ente

[GurungBoi]

how is the Unrealized P/L calculated?

Like let's say i short 400 and it drops a few.. if someone has a short that is lower than my short but is only .. let's say 10 ltc .. is my Unrealized P/L calculated based on that 10 or 10 and the ones behind it?

Just want to make sure when i  hit a market close.

[CEG5952]

how is the Unrealized P/L calculated?

Like let's say i short 400 and it drops a few.. if someone has a short that is lower than my short but is only .. let's say 10 ltc .. is my Unrealized P/L calculated based on that 10 or 10 and the ones behind it?

Just want to make sure when i  hit a market close.

It is based on the best bid/ask. I believe it does not take order book depth into consideration. So with sizable positions, be very careful with the market order button. (Same goes for trigger orders like stops)

[drawingthesun]

Is this site still going strong? I used to use it all the time back in the old days of $100 bitcoins, haha.

Any chance you will add Monero for trading?

https://bitcointalk.org/index.php?topic=583449.0

[suyvv]

no it's not, the site really sucks! You won't be able to withdraw ltc most of the time, you will always have to wait a few hrs to a day or two to withdraw ltc, and most importantly you won't be able to cancel the withdrawal, which means your ltc will be locked for a few hrs to a day or two, by the time your ltc got unlocked the market price has changed drastically.

[BenAnh]

Stuck on deposits/withdrawals!

[CHAO]

Dear Sir/Madam,


There are 13 Confirmations  in blockchain .But there is still nothing in my account.

Could you tell me if there is something wrong in your deposit system?

[hgamezoom]

Does anyone know, in margin trading, how can I partially close my positions?

[Sukrim]

Just put an order for part the amount, not the whole.

[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.

Oh boy, just yesterday it looked like the swap rate was slowly on the rise again. The former 3 m FFR wall was hacked down to like 1.7 m and new offers below it were drying up but then the prise surged and I am assuming quite a few long positions were closed and the book was bombarded by returned swaps. We have now genuinely broken below 0.04 for the first time with 6 figure wall to keep us down. With fees figured in 0.04% per day is just slightly above 13 % compounded annual interest rate.
Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.  

In other words:
>tfw when 1 % per day will never come back. :-(

[DianaLime]

I am going to try this out soon.

[noggin-scratcher]

In other words:
>tfw when 1 % per day will never come back. :-(

Well, it's at least limped it's way back up to almost 0.045% rather than continuing down into the 0.03xx territory, but that's still a pretty paltry return compared to what it was.

To be expected I suppose, when the swap total has dropped so precipitously - maybe eventually people will start withdrawing cash back out and reduce the supply of cheap USD, but in the immediate aftermath it's just going to be sitting spare and going for ever-lower rates while they have a think about the situation.

[gog1]

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.

Oh boy, just yesterday it looked like the swap rate was slowly on the rise again. The former 3 m FFR wall was hacked down to like 1.7 m and new offers below it were drying up but then the prise surged and I am assuming quite a few long positions were closed and the book was bombarded by returned swaps. We have now genuinely broken below 0.04 for the first time with 6 figure wall to keep us down. With fees figured in 0.04% per day is just slightly above 13 % compounded annual interest rate.
Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.  

In other words:
>tfw when 1 % per day will never come back. :-(

Traders are getting more savvy, over $13 million is wiped from the hodlers - now, it's mainly traders taking the new swaps

[MustMan]

Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations.  

In other words:
>tfw when 1 % per day will never come back. :-(

Good times has gone forever for lenders!
Swap rate per day record low 0.0492 on Apr.25 was broken already .

[bjornw]

Hi all,

Bfxdata.com Update:

I've just finished a new landing page for http://BFXdata.com

The new page shows you an organized collection of the most important Bitfinex stats. Both for trading and for Total Return Swaps, all in one page so you'll have an instant overview of whats going on on Bitfinex at the moment (and for the last 24h).

hope you'll like it, let me know. Also suggestions for improvement are welcome!

Cheers Bjorn

ps. Maybe you'll have to clear your web browser's cache to land on the new page (I removed a redirect on the server) direct link: http://www/bfxdata.com/index.php

screenshot: