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

[MelMan2002]

There does seem to be a problem with the new leverage changes.  If I hold btc and go full long then it seems to be correct but if I hold btc and go full short it doesn't seem to allow me to borrow the full amount that I should be able to - that is, to get the full effective amount I would have to exchange the btc first and hold dollars and then go full short.

[Sukrim]

Hi, I'm new to finex and there's something I don't understand: When lending swaps and I take the risk of making it 30 days so I can't access my money for 30 days then the other party can still cancel that swap after just a day or even an hour if he likes to?? Where's the point. If someone takes my loan for 30 days then I expect the full 30d to be covered with interest or at least him paying a fee if he returns it earlier. Why should I take a risk for nothing?? And it's really annoying to have to check all your swaps every hours because of this! flash return rate autorenew is useless because frr is usually too high and has several lower-priced offers that get taken instead, so my money would be idle for 1/3 the time or even worse if I used frr. How do you fellow lenders handle this problem?

You get the interest for the few hours/days that the money is being at risk. You can autorenew at any rate that you think is worth that risk, if there are no takers at that price, then you shouldn't lend in the first place (or do you think that risk magically changes, so you can lower your interest rates? If yes, then the situation you describe is really a problem).

I suggested several ways how to improve the situation for lenders, Bitfinex rather seems to like to incorporate in other jurisdictions, sever ties with Bitstamp introduce mining contracts(?!) and bots that hurt lenders though. Maybe in the future there will be some more features towards helping lenders, I wouldn't get my hopes up though too much, after all "ideally" Bitfinex would have enough money themselves so they can get the full fee from offering money, not just 15% of the interest.

[noggin-scratcher]

Hi, I'm new to finex and there's something I don't understand: When lending swaps and I take the risk of making it 30 days so I can't access my money for 30 days then the other party can still cancel that swap after just a day or even an hour if he likes to?? Where's the point. If someone takes my loan for 30 days then I expect the full 30d to be covered with interest or at least him paying a fee if he returns it earlier. Why should I take a risk for nothing?? And it's really annoying to have to check all your swaps every hours because of this! flash return rate autorenew is useless because frr is usually too high and has several lower-priced offers that get taken instead, so my money would be idle for 1/3 the time or even worse if I used frr. How do you fellow lenders handle this problem?

I hear ya, it's frustrating, but you're offering funds for the purpose of trading, which as an activity is inherently just full of unpredictable timing, so charging the fee for a full 30 days when the funds weren't used for that long isn't the answer, especially since anyone borrowing on auto is just taking the best rate regardless of duration (so will occasionally get a 30 day loan regardless of their actual intentions).

Look at it from the perspective of a trader; they may already only be scraping a thin profit margin, if they're lucky enough to be in profit at all, so effectively getting charged punitively for exiting their position "early" is just going to kill whatever chance they had of coming out ahead. It'd be a very different contract if "Full fee charged regardless of actual duration" was part of it... can't say I'd expect anyone to take you up on that version.

If you've got the time to babysit your swaps you can set email notifications for when they're paid back, which reduces the task from "Check on them every few minutes like an obsessive" to "When your email goes ding, go re-lend whatever just got returned". Or if you want to be more hands-off about it there's the auto-renew option; pick a rate to set it at once per day or every few hours or whatever fits your schedule.

[oyvinds]

Could BFX team please check if there are any issues with order placements. I just had series of orders executed via what looks like market orders, which I never do (I always use limit orders and did so this time). This resulted in much higher fees for me and wrong price. I've also had that popup window coming up as I was placing orders, mentioning that my order is "above available price", which I double checked and it was not. I was only able to discover that orders were executed at the wrong price, by looking at the history of latest trades.

Just a GUESS: Did you enter something like 380,10 (actually 38010 on the BFX system!) when you wanted 380.10?

If this is the case then you are not the first one who have learned not do use a , on BFX the hard way.

(if this is indeed the case then perhaps R should consider accepting , as a . or .. donno. consider writing something in the FAQ or something but I am not sure anyone would read that before after the fact anyway)

It could be that you did something else "not expected".

There is "nothing wrong" with order placements at BFX right now. It works just fine - yet this happened to you. This indicates that you did something different from the rest of us. Note exactly what you did and what you typed if this happens to you again. I am not sure this is true anymore but it used to be that if you entered $price (like $380) and not just a number then your order was made into a market order (not going to test if this is still true, but I do not think it is).

[nrd525]

I started a new thread in the Securities section to speculate on the TH1 value:
https://bitcointalk.org/index.php?topic=802718.msg9020038#msg9020038

When is Bitfinex going to offer more shares?  It looks like demand is strong.

[freakbits]

How can I "offer all" swaps via API instead of specifying only a certain amount? Basically the same way as the "offer all" button works?

[Sukrim]

Query for your balance and offer this amount?

[freakbits]

bitfinex doesn't have a valid certificate? according to firefox at least, when using https?

[Bitcoins101]

bitfinex doesn't have a valid certificate? according to firefox at least, when using https?

It has a valid certificate for me. Are you using Tor? Make sure you're not dealing with a MITM attack.

[freakbits]

bitfinex doesn't have a valid certificate? according to firefox at least, when using https?

It has a valid certificate for me. Are you using Tor? Make sure you're not dealing with a MITM attack.

It doesn't have a green "lock" icon like other sites that use https, only a grey one.

[nrd525]

I'm using Firefox. Grey lock. Says "verified by GeoTrust Inc".  Google.com is grey as well.  Youtube is green.

[BitBits]

Could BFX team please check if there are any issues with order placements. I just had series of orders executed via what looks like market orders, which I never do (I always use limit orders and did so this time). This resulted in much higher fees for me and wrong price. I've also had that popup window coming up as I was placing orders, mentioning that my order is "above available price", which I double checked and it was not. I was only able to discover that orders were executed at the wrong price, by looking at the history of latest trades.

Just a GUESS: Did you enter something like 380,10 (actually 38010 on the BFX system!) when you wanted 380.10?

If this is the case then you are not the first one who have learned not do use a , on BFX the hard way.

(if this is indeed the case then perhaps R should consider accepting , as a . or .. donno. consider writing something in the FAQ or something but I am not sure anyone would read that before after the fact anyway)

It could be that you did something else "not expected".

There is "nothing wrong" with order placements at BFX right now. It works just fine - yet this happened to you. This indicates that you did something different from the rest of us. Note exactly what you did and what you typed if this happens to you again. I am not sure this is true anymore but it used to be that if you entered $price (like $380) and not just a number then your order was made into a market order (not going to test if this is still true, but I do not think it is).

Thanks for the comment, but no, the comma instead of a dot or the omission of one is 100% not the case for me (been placing way too many orders around here ). The issue is gone right now and I am pretty sure that it was related to those reports of people seeing briefly other people's account data.
I do know that due to caching within CDN (a part of DDoS protection of BFX servers) one could often see delayed update of the account data (I got used to just refreshing the pages and periodically just restating browser after cleaning cache and cookies). I have experienced this issue in the past when I would change settings, place order, but the order would go out with old settings, unless I reload the page. However this time It was "market order" placement and since I haven't changed the order type from "limit" for a few months, I must have "picked up" somebody else's cache in regard to settings.  If this is indeed the case, BFX really needs to look into their server setup carefully (some permission settings perhaps). CDN suppose to cache only static parts of the website and/or what it is instructed to...

[noggin-scratcher]

One other oddity with swaps - seems like the timer gets reset (or possibly rounded up) on an unused swap every time a chunk moves to 'used'.

Saw a request at a favourable rate, filled it, had a swap sitting there as unused with a 30 day timer. They've been regularly taking off a tiny piece and converting it into a used swap while the remaining reserved balance goes into a new unused swap with a fresh ID number. That's all fine, but the chunks that have been used for a while are now down to 29 days while the unused remainder stays at 30 days. Even briefly returning to the "about 1 month" phrasing that you normally only see when a 30-day swap has only just started.

Odds are it'll get repaid before the timer runs out, so... whatever, I guess. But when I filled the request I thought I was saying "Here, you can have these funds for 30 days at most", not "Let me know when you want the timer to start and then we'll count to 30 from there".

[nrd525]

Website is going slow. Page loads can take 10 seconds. 

AJAX: GET _trading_wallet just took 5 seconds.

[akujin]

Could anyone tell me what this mean:

That's from my order history. It says:
insufficient margin, was: partially filled @ 380.xx(xxx)

I placed a limit buy order using all my balance but it was only partially filled. From bitcoinwisdom, I could see that the price went deeper than my buy price but my order wasn't filled and the order disappeared even though I didn't cancel it and it was partially filled and I ended up with some dollars in my account
I'm also not using Margin trade. That's an Exchange limit buy order.

[nrd525]

How is Bitfinex selling the newly issued TH1 shares?

For instance, you just issued 100 more today. However in the past 24 hours, only 25 shares have been traded and I don't see the 100 on the order book.

[bikapata]

what if the contract expires for Th1 at 15.12 ? investment away?  payout?

[lg1500]

How is Bitfinex selling the newly issued TH1 shares?

For instance, you just issued 100 more today. However in the past 24 hours, only 25 shares have been traded and I don't see the 100 on the order book.

i facking angry too wtf is wrong with bitfinex ? 100 more shares and what ? where they are ? market selling shares or what ? bitfinex please answer me with details what are you doing with 100 more shares every time ?

[lg1500]

what if the contract expires for Th1 at 15.12 ? investment away?   payout?

true, and what if someone will never sell share and you need paying forever swap cost ?

on deadline bitfinex need sell high amount shares for 0.0001 btc to close all positions, this is only solution

every new 100 shares should be selling for estimate profit prize, this mean 0.9-1.btc, we have now 1.3 btc prize, this is fake pumped prize, just becouse this market can be manipulated with present conditions. Market with limited coins and margin trade, need some regulations, becouse now can be manipulated by high swap cost when prize is high, and person who manipulating pumping prize, and giving only high swap cost th1.

[nrd525]

When the contract expires on Dec 15 at the fixed time they should buy back all the shares for 0 BTC.

They should announce in advance how many shares will be issued AND the price.