Quote from: DoubleSwapper on March 15, 2015, 12:01:50 PM

Quote from: Mythoughts on March 15, 2015, 11:57:20 AM

Quote from: DoubleSwapper on March 15, 2015, 11:49:39 AM

Quote from: Mythoughts on March 14, 2015, 04:36:27 PM

Quote from: DoubleSwapper on March 14, 2015, 12:55:23 PM

mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through. Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?

Some people want a fixed rate, so the FRR rate does not matter for their swaps.

Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.

What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.

http://bfxdata.com/swapstats/usd.php

Intended behavior. It's like this since always, but you probably just havent noticed it before.

FRR still had a range from 2 to 30 days while all offers behind it were taken out (no 2 day offers spared or 30 only taken) so who would be that retarded unless he had agenda behind it? During the time when frequently just 1 m was ripped out of the book everybody was happy as well thinking "that guy must be stupid" until it occured to people through the careful investigation on bitcoinidiotdude that he was actually using a bug so he wouldn't pay interest for the hour. Same thing with the fake huge demand walls that were automatically shedding supply where bfx was doing nothing as well. This is the next swap market manipulation in the making.

If that is intended why hasn't this shit happened in the last couple of months when 3 m FRR wall was there and nothing behind it and never did the rate fly over it? Also what kind of shit system is this if it ignores the majority of supply? Don't you think at least some of the 577 offers sitting at FRR would have like to be taken out by that 300 k demand instead of it flying right through?

EDIT: lol next slurp up incoming. right up to 0.7 from a measily 56k whzile tere is a cool million sitting at FRR. That's how it supposed to work. lmao

Can you please tell me what kind of demand I have to put in so I can slurp up demand behind the FRR? Instructions please.

The people taking fixed 30 day rates about two weeks ago must feel pretty good right now (getting like 0.025% instead of 0.125%). And for cases like that, this system is in place.

It's up to the trade if they want fixed rates or not. If it's smart to do this or not... who knows? But it's definately not a bug. If people want to use it, just let them. They will have their reasons for doing this, completely not caring whether DoubleSwapper agrees with their reasoning or not.

I see people offering fixed rates at 0.06 quite often still. It's dumb, but they do it. There's no need for a system to protect them from themselves either.

Edit:

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This makes for a absolutely ridiculous price discovery as well as making predictability of swap market as mess.

True, and i'm all for removing the FRR. But while that's not happening, there's no reason to let people have less choice in which swaps they accept.

Edit 2:
And it might even be smart to get high fixed rates now. There's only 2 more million total of swaps available. Rates might totally go through the roof if the BTC prices moves up. Or there might be no swaps available at all.