Bitfinex users: open discussion

[Ichthyo]

This is a thread for exchange of ideas and strategies, discussion and ramblings of users of the Bitfinex platform.

Note that there is an official Bitfinex thread, created and monitored by Bitfinex staff. If you want to reach the attention of Bitfinex staff it might be a better idea to post there. Some users expressed concern regarding the self-moderated nature of the official thread -- thus, here you'll find an basically unmoderated thread from users for users....

[ninjaboon]

Been using Bitfinex for some weeks now.
Wished there was an option to stop or cancel auto-lending of USD/BTC funds.

[Sukrim]

You can just deactivate auto-lend, you might need to mae sure that you don't have auto-renew on (you can deactivate this as well if the loan is still out though).

[ninjaboon]

You can just deactivate auto-lend, you might need to mae sure that you don't have auto-renew on (you can deactivate this as well if the loan is still out though).

yea, but once it's lend out, we cannot cancel it just like that. There is no cancel button.

[Sukrim]

I don't get your question:

1) You put out an offer to lend out e.g. 10 BTC for 10% APR for 30 days.
2) This offer gets taken.
3) You want to have your coins back before 30 days are over or the person taking the loan returns them early.

Why do you call this "auto lend"? The duration of a loan is something you offered and agreed to beforehand. If you need the money back earlier, set shorter durations next time or (maybe better) do NOT put money you need on Bitfinex!

[sttroon]

https://community.bitfinex.com/content.php/33-Compliance-process-for-licencing-of-Bitfinex

Dear Customers

We have now commenced with all the preliminary paperwork in order to become a fully licensed money transmitter in Hong Kong.
During the application period and until final launch this requires us to stop receiving incoming wires during this time with immediate effect.

Only deposits in bitcoins will be therefore accepted until we get our approval, hopefully very soon.
Once we have it we will promptly resume this form of funding.
Withdrawals will be normally processed but will require KYC data collection from our side.

Thanks a lot for your understanding.

Raphael
Bitfinex Team

I also noticed lending/margin trading of LTC seems to be active.

[mccoyspace]

anyone else getting a certificate error when trying to connect via https right now?

[joesmoe2012]

They just integrated the LTC lending as well.

[Ichthyo]

the official anouncement for LTC margin trading just appeared on the Bitfinex community forum

https://community.bitfinex.com/content.php/34-Margin-Trading-for-Litecoin-is-now-live

cool... they really did it

[ninjaboon]

If you need the money back earlier, set shorter durations next time

okay noted, thanks for the info.

[unclescrooge]

You can just deactivate auto-lend, you might need to mae sure that you don't have auto-renew on (you can deactivate this as well if the loan is still out though).

yea, but once it's lend out, we cannot cancel it just like that. There is no cancel button.

Hello Ninjaboon,

Yes indeed you can't cancel an active loans, only the borrower can. Imagne if you borrow money at your banks for 1 year and they say 10 days later, hey we want our money back now. That wouldn't work, no?

Yes, margin trading for LTC is active, and this i generating some good volume now

Also, as announced on our forum, we have began implemented stricter AML procedures and are now closing deposit by USD for non verified users. Verification system will be up this very week-end.
BTC and lTC are not concerned by these restrictions.

Let me know if you have any more questions
Best regards
Raphy
Bitfinex team

[Ichthyo]

Is it just me or was there actually a change?

it seems the search order of the bids/asks in the trading page has changed, it was previously top down.
At least thats the impression I get, since I am looking at the wrong table cell all the time

[Ichthyo]

Is it just me or is the BitStamp data feed on bitcoincharts stalled for others too? Any known reason?

Bitstamp as such seems to be fine and bitfinex connected to bitstamp as one would expect

[petrjanda]

Would not trust any Ruby On Rails platform for currency trading. Slow, plenty of vulnerabilities. Asking for trouble.

[Sukrim]

Oh the rough "charms" of giancarlo in action: 

https://community.bitfinex.com/showthread.php/448-What-are-the-MAX-account-balances

I'm afraid you have some homework to do.
From what you write you clearly do not understand how Bitfinex works.
[...]

[...]
Anybody with a grain of salt in his head would understand that this was the ONLY possible solution to the problem.
[...]
But please next time try to come up with some logical opposition to our business instead of quoting a bunch of bulls.
[...]

He seems to really try to be as mean as MPOE-PR.

[myself]

only 10% of all that can move bitstamp at 60USD, there is no market for all that volume to short