Post
Topic
Board Bitcoin Discussion
Re: Aug 1 summary
by
JayJuanGee
on 02/08/2017, 04:56:07 UTC
bitfinex also credited BCH

But question is still same when the trading pair BCH/USD or BCH/BTC is going to come on bitfinex

In the most recent announcement from Bitfinex, they are saying that they are "monitoring the fork" and they may create trading pairs SOON-ish tm  maybe 24 hours or more....

They also took a 15% haircut from folks.  I only got 85% of my equivalent BCH.. more socializing.. those fucks!!!!

same here go 85% of btc
The 15% "haircut" is to account for the fact that traders had net short BTC positions across their platform, and did not force shorts to repay BCH, and give longs BCH (which was likely guided by the fact that they did not want to commit to listing BCH for trading). This policy was announced days in advance, which allowed customers to withdraw BTC from the platform if desired. The situation also created opportunity for BTC holders to lend out BTC at ridiculously high interest rates.


Perhaps, I opened up this deviation from the thread topic to highlight the disparity of getting 100% versus 85% when someone else holds the keys. 

Also, perhaps, I misunderstood that I personally was going to be affected by the distribution coefficient that they applied or that it would be so much.  I might understand a few percent, but 15% in one fell swoop, oooftah!!!

Actually, mentioning loans, I did attempt to put a considerable amount of my Bitfinex BTC to work while I had put it on that exchange, and I earned about .7% over the past couple of weeks.. hahahaha.. that is a really good return for the amount that I had on the exchange, yet almost nothing compared with the 15% haircut.  The loan rates are very transitory, and I had some loans that were out for .035% per day, and others reached as high as .9% per day.   So the loan rates went up nearly 30x in the past couple of weeks, and they are now coming back down to their more regular rates. Poloniex had much higher loan rates, but they seemed to have distributed their BCH differently, too (the borrower received the BCH rather than the lender... something like that).