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

[Sukrim]

"I get that part, but that person can then decide to cancel at any time?"
Yes.

"And if I have autorenew on, my offer just gets put behind the other 2300 btc of offers that are currently at the flash return rate?"
If you autorenew at FRR, then yes. Otherwise it would autorenew at the duration and rate you set when enabling autorenew.

"Also, what is the "offer count" number that is on the right column?"
The total number of offers at that rate (e.g. there are ~260 offers totalling ~1400 BTC at FRR in the BTC lending market at the moment)

"Does that mean there are 350 offers of 2300 bitcoins?"
No, there are 350 offers at ~6.6 BTC each on average (or one huge for 2000 BTC and 349 smaller ones), totalling 2300 BTC.

"Does anyone have experience how long my offer would sit there until it gets taken?"
Depends a lot more on external factors and the attractiveness of your offer (if you can live with 0.001%/day in interest, you can immediately lend out coins) than on "experience".
Currently I'm in "FRR cruise control" rather than managing my positions manually, since it's not 100% clear anyways where the price will go and rates are so low anyways, that I don't really see the point in checking everything for 20 min/day just to maaaybe get 50 cents more interest or something... with the risk of pricing too high or low and loosing out against FRR anyways.

[DoubleSwapper]

I really hope BFX has his margin call defender polished and loaded. We are dropping scarily fast and are already at 383 with over 21.2 millions of open longs. These can't all be 100er longs, can they? This is getting a bit worrisome imho.

[Sukrim]

At least people I referred do not yet seem to be getting liquidated (I didn't receive a fee cut from any of them - and a few are probably heavy traders).

Weirdly though, I received interest swap payments twice today (the second time only for a very small amount: ~5% of the first one).

[DoubleSwapper]

At least people I referred do not yet seem to be getting liquidated (I didn't receive a fee cut from any of them - and a few are probably heavy traders).

Weirdly though, I received interest swap payments twice today (the second time only for a very small amount: ~5% of the first one).

Me too. When I got my payment yesterday I immidiately thought: "well, a bit low isn't it?" but it was very turbulent day, so I didn't make anything of it but I've received another 5,7 % (like you) more at the normal time. BFX probably had a short outage for the swap collection and paid it manually. It has happened before afaik.

Unfortunately I have no referral bonus (man, you early guys must have made MAD bank on BFX with the huge interest at the beginning, the 10x november bubble and the referral system) but I've getting quite a few of my swaps returned but not anything really cascading so far where you suddenly have half your swaps back. 

[DebitMe]

"Does anyone have experience how long my offer would sit there until it gets taken?"
Depends a lot more on external factors and the attractiveness of your offer (if you can live with 0.001%/day in interest, you can immediately lend out coins) than on "experience".
Currently I'm in "FRR cruise control" rather than managing my positions manually, since it's not 100% clear anyways where the price will go and rates are so low anyways, that I don't really see the point in checking everything for 20 min/day just to maaaybe get 50 cents more interest or something... with the risk of pricing too high or low and loosing out against FRR anyways.

First off, thank you very much for the answers, that helped out a lot.  I think this last question did not come across the way I was thinking it would, let me rephrase.

If I do the auto renew option and choose the "FRR cruise control" option, how long, on average, should I expect to wait until it is taken and I start earning interest again?  I understand that the time frame is variable on different market happenings, but a rough estimate based off of experience.

[Sukrim]

Well, for example in BTC there are now ~3100 BTC "in line" (probably fewer if you offer up to 30 days) until your offers would be considered, so it really depends on how many people want to enter shorts right now.

Once the market moves as much as recently (remember, traders can earn either way!) there are usually more positions opened and closed, in slower periods I would guess it takes up to a week or so at 30 day FRR to cycle through.

[btcisreal]

Do I need to complete the verification process if I only want to buy/sell & deposit/withdraw BTC on Bitfinex?

[Ente]

Do I need to complete the verification process if I only want to buy/sell & deposit/withdraw BTC on Bitfinex?

No.

Ente

[DoubleSwapper]

Is it just me or hasn't there been any swap payment today?

Please stop pushing these payments later and later. We starded at like 0:00 and now we are normaly at 2:50 but today it's already 03:36 and there hasn't been any payment. Please rescedule the payment to like 02:00 or something but at least don't push it any later anymore. 

[gog1]

Is it just me or hasn't there been any swap payment today?

Please stop pushing these payments later and later. We starded at like 0:00 and now we are normaly at 2:50 but today it's already 03:36 and there hasn't been any payment. Please rescedule the payment to like 02:00 or something but at least don't push it any later anymore. 

No payment today yet - geez, really don't get what's going on

[MOB]

Yes, this is the latest payment I have ever seen on Bitfinex.

[gog1]

probably something wrong with the swap engine.

[Sawadekub]

same.. swap on my account is down.. what is wrong?? anything to compensate us?

[unclescrooge]

Hello guys,

As many have noticed, nobody received swaps interests on time tonight. They are just been credited as I wrote this post now.

No interests are lost, the interests credited now include the last few hours of today, and tonight you will receive your daily interests minus those few hours already credited.

My apologies for this delay. For the curious, let's just say the server on which these interests payments are launched is a bit overloaded and missed his "time window" for interests payment. A new server is already ordered and due for the end of the week

Have a good day
Raphael
Bitfinex team

[germanjew]

Thanks for the post unclescrooge, much appreciated.

[szmarco]

Hello guys,

As many have noticed, nobody received swaps interests on time tonight. They are just been credited as I wrote this post now.

No interests are lost, the interests credited now include the last few hours of today, and tonight you will receive your daily interests minus those few hours already credited.

My apologies for this delay. For the curious, let's just say the server on which these interests payments are launched is a bit overloaded and missed his "time window" for interests payment. A new server is already ordered and due for the end of the week

Have a good day
Raphael
Bitfinex team

Ok.Thanks.UncleScrooge
I hope there is no more next time. Could you announce it more quickly?

[noobtrader]

hi,

pls help
i'm depositing Ltc but after 1 hour i still havent receive in my deposit wallet.
01b5f769718cfa204a261d664d93b03a355c3f49cebf4d22ea4e1fa86b26fc2d

thanks

[MOB]

Are there any remaining problems with the swap server?  Yesterday+today's payout seemed a bit low still. (I realize yesterday's was more than 24 hours, hence averaging them).

[DoubleSwapper]

Are there any remaining problems with the swap server?  Yesterday+today's payout seemed a bit low still. (I realize yesterday's was more than 24 hours, hence averaging them).

I've asked myself the same question when I spotted how low today's payment was but then I've calculated it through and it seems possible at least (of course I wouldn't have anything against another payment like we had two days ago ;-)) .
The down time was nearly exactly 8 hours so today's payment should only be 2/3 as high as normally while yesterdays would be 4/3 as high as normally. It roughly adds up for me.

[dozzila]

Hi,

Could you please help answer a question for me: is there any Demo/UAT environment on Bitfinex when you can try some test scenarios? Sorry if this was already asked, but its a very long thread.