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Board Announcements (Altcoins)
Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY)
by
DoubleSwapper
on 19/10/2021, 02:20:31 UTC
Most of the cards listed above are still for sale. DM me if you are interested, especially in bulk.

Other than that I hope the dev team creates some new content for the game with the massive proceeds they got from their NFTs sales. Compared to the current gen of pay to earn trash SoG is easily still the best blockchain game. Anybody disagree?
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Board Announcements (Altcoins)
Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY)
by
DoubleSwapper
on 29/09/2021, 10:33:23 UTC
Looking to sell any of these cards. All on Counterparty. Selling as a bundle prefered.

Unique:

SATOSHILITE   2   
ETHERMAGE   2
BADROMANCE   1     
BALABASTER   1
KINGREINDEER   1         
BITCOINISTCD   3           
COINDESKCARD   2     
DARKSTATUE   2         
FACTOMCD   2   
FOOTSOLDIER   1     
GNOMECARD   2     
GRIDCOINCARD   2     
GUMMYYUMMY   2   
JAYACARD   2     
MAYACARD   1   
MOTHERBIRD   2     
MUSHROOMSIMP   2   
PEACOCKCARD   2         
SCARECROWCD   2     
THEMESSENGER   2   
WATERSCOURT   1   
GOLEMCARD   1     

Blockchainized:

VISCULALADYB   3   
CARNIATHCREA   4
YELLOWSHAMAN   1     
DEALERFLAMES   1
SLASHINGCRIR   7
TRIDENTQUEEN   3
CYCLOPSCARD   2   
DARKAODH   3
REINFORCEDOC   3
PAPIIGAS   2
ITLANKINGGAR   1
HEAVENLYSHEP   3
FROZENCOLOSS   2   
DIVINEKNIGHT   1
DEVASTATINGT   1
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Topic
Board Announcements (Altcoins)
Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY)
by
DoubleSwapper
on 27/09/2021, 20:55:11 UTC
Hi,

I am looking to sell 2 collections of SoG Cards on Counterparty (some of them rare and highly valuable unique cards, some of them fused and blockchainized cards). Preferable the collection as a whole (about 40 cards each). PM if you are interested.
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Board Games and rounds
Re: 1000 BTC GIVEAWAY! From your friend rekcahxfb
by
DoubleSwapper
on 03/08/2016, 15:44:32 UTC
PROOF OF FUNDS
https://blockchain.info/address/1BfxSuxJqXuizBbTcP238JZY9DT4eqvzJG

SIGNED MESSAGE

Address: 1BfxSuxJqXuizBbTcP238JZY9DT4eqvzJG

Message: bitcointalk rekcahxfb 1470232659

Signature: HItHu5HG+WAsqESx8vA3U7G/OHtTk1Gz9cy2qHmF2hSjI+d71Qs5zNlt1zvB3F/hFBXsy5vAjDFUC3rPQb2QVUY=

HOW TO ENTER GIVEAWAY

Post your address below. Random winner will be selected 1 week from now. No alts/sockpuppets


--------------

SIGNED NLOCKTIME TRANSACTION (DEAD MAN'S SWITCH)

If I get arrested / blackmailed / murdered , then this signed raw transaction will send 1000 BTC to 1BitcoinEaterAddressDontSendf59kuE

This tx will be valid at block 425000

Code:
01000000010b05fdf5fe9dd5c1edc0c37bbd939d6a96dacccea398cdf9aae873c62b583ecc010000008a47304402204506f42bc2ed8920e719c7f5da77f01c81dfa0e0873869d9be067af12706f00602206967c1018bd33528e73438c13ac2664eec7c7e1d6a743652ec96681897017f25014104c5eb97c372d1666166497a9f8937c7f351fe679977e0b04ff304596a4f1f984c95b1458fec741e1b414dc5c3a6adb6c75fc4a370952d08e59197e94e7eced185000000000100e87648170000001976a914759d6677091e973b9e9d99f19c68fbf43e3f05f988ac287c0600

You can verify it on:

https://coinb.in/#verify

https://blockchain.info/decode-tx
Hey,

no idea whether you're gonna read this or not. First of all I just wanna congratulate you on your technical prowess. Pretty insane how you emptied out the leading bitcoin exchange.

I'm sure you know but I just wanna remind you that you are not simply moving some numbers. Lives rely on these numbers. Live's such as mine. I'm a single father of 3 boys and had a life changing amount on BFX for the purpose of lending (you can check my post history). I used the monthly payments to support my family.
If this money is now gone I have no way to support my kids and will seriously contemplate suicide so my boys get the insurance payment at least. Hope you remember what is behind the numbers you move so carelessly.

Congrats.
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Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 16/07/2015, 14:35:48 UTC
Seriously, Bitfinex......what the fucking is going on with you?
Why are you driving your company against a fucking wall???

Everyday there a new complaints popping up and public relations are worse than ever. You guys are not even trying to answer anymore. You've first employed mjr and then Zane Tackett. These guys have done fucking nothing so far....support was 10 times better when Giancarlo and Raphael were in charge. What is happening here???

https://www.reddit.com/r/BitcoinMarkets/comments/3dd2x1/is_bfx_still_underpaying_swaps/

This is like the fourth thread about a super important topic BFX is not dealing with. You have not even officially acknowledged that lenders are getting defrauded, how long it has been going on and what are you planning to do about this.

Get your shit together......
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 28/06/2015, 02:10:57 UTC
Hello everyone,
Yesterday I didn't received the swap interest payment, did anyone else noticed this? or it was only me?
Same here (BTC-Swap Payment).
There indeed seems to be a problem with the swap payment system. While I received my swaps at the regular time some of them looked a little too low in value. I'm not sure though as the past days have been quite turbulent with the spike to 0.3 and 0.18. A user on reddit has opened up a similar thread concerning this topic:

http://www.reddit.com/r/BitcoinMarkets/comments/3b93yr/bitfinex_underpaying_swap_payments/

While I was sceptical at first I ultimately think he's not bullshitting although I don't believe BFX is intentionally scamming.

Like 20 minutes ago there was a second, very low swap credited on my account so it seems there actually is a problem. Please investigate at least the last 10 days, BFX and be open about it.
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 02/04/2015, 20:44:49 UTC
People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.
FRR has spiked? lol. It went from 0.02 to 0.1 Sry, but that is the same crap that was said last time when I posted about this issue. How it could potentially be clever to reserve at 0.7 (who the fuck believes this?) because FRR would run out... Of course it didn't, there is still plenty and it's still at 0.1 when the spikes regularly go to 0.7 and beyond. When was the last time FRR was over 0.2? Ages ago and exactly because shit like this is allowed. If these guys want to take out six figure offers force them to take from FRR or calculate FRR dynamically but fix it once the offer is put on the book. What's happening is seriously ridiculous and absolutely in line with all the bullshit that has happened on the swap market before.

Instead of having a liquid market that reacts dynamically to increasing supply and demand (low demand it's at 0.02-0.05, high demand it goes to maybe 0.3) we always get shit like this just because fucking BFX is too stupid to remove the fucking FRR. I'm so fed up with this shit.

I dont have a problem with FRR. Swaps on FRR are still only people that dont want to manually put in their loan offers. FRR doesnt push the price forward or backwards. Its the peoples money on there and their money would be elsewhere in the orderbook without FRR. So taking it out only would lead to offers done manually. It wouldnt help you to make great swap deals i think.

But what do you write about taking offers behind FRR? Is that happening or not? It shouldnt be possible if FRR is there. So were offers taken that were behind FRR?

I noticed that somethings not correct with FRR too. I mean it sometimes shows up on the left side of orderbook with values that dont match or dont make sense to show up there. I wonder if FRR is calculated in a buggy way. But i surely would like to have given some swaps at 0.6% per day for 30 days... oO

Of course it happens as I have shown with the screenshot. It's happening right now and nobody cares. You can also look it up on bfxdata. Seemingly because suddenly people (god knows why, it never happened before 1.5 months ago) order large amounts of money (6 figures+ multiple times) and don't include "variable" rate" to be taken which cleans the order book behind the FRR but leaves it intact. Tunneling like that should not be possible, it messes up the order book, ruins any predictability and further kills liquidity.
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 02/04/2015, 20:24:36 UTC
People can either take a fixed rate or flexible rate. FRR historically has spiked due to manipulation and wiped out a lot of positions, hence the setting to allow traders to either consider FRR and take the risk of a spike or not.
FRR has spiked? lol. It went from 0.02 to 0.1 Sry, but that is the same crap that was said last time when I posted about this issue. How it could potentially be clever to reserve at 0.7 (who the fuck believes this?) because FRR would run out... Of course it didn't, there is still plenty and it's still at 0.1 when the spikes regularly go to 0.7 and beyond. When was the last time FRR was over 0.2? Ages ago and exactly because shit like this is allowed. If these guys want to take out six figure offers force them to take from FRR or calculate FRR dynamically but fix it once the offer is put on the book. What's happening is seriously ridiculous and absolutely in line with all the bullshit that has happened on the swap market before.

Instead of having a liquid market that reacts dynamically to increasing supply and demand (low demand it's at 0.02-0.05, high demand it goes to maybe 0.3) we always get shit like this just because fucking BFX is too stupid to remove the fucking FRR. I'm so fed up with this shit.
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 02/04/2015, 16:41:23 UTC
So why again does BFX allow people to tunnel through the FRR and take offers behind it? Where is the logic in this manipulative bullshit? We have over 1.6 M (now over 1.7 actually) in swap offers on FRR which represents the majority of available money on the book.
Instead of having an increase in FRR because of a high demand we have an FRR that is glued to 0.1x with random batches of 6 figure sums tunneling through to sky high rates at unpredictable times. This is bullshit.

Am I allowed to buy bitcoins at 800 to pump the price? No? Then why is this allowed?



Is this what a proper orderbook looks like?
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 15/03/2015, 12:13:53 UTC

I figure but tell me why would anybody do this unless they had a plan in mind and why hasn't this happen in like ever before? Don't tell me there are people that expect the FRR to rise above 0.6 in the next two days lmao. Look at the rate when FRR wall was huge. Never was it pierced and now suddenly it happens all the time and gets ridiculous? Look at the orderbook.....Also why would it work this way to begin with? mjr has clearly said multiple times that people are comfortable with lending their money with FRR. You think someone is comfortable with having his money sitting at 0.1172 while funds at 0.7 get taken out? Where is the logic in this?

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

Again: This is the next swap manipulation in the making and it will probably again take months until somebody finds out that the guy taking out money at 0.7 was not stupid but knew something most didn't.  

EDIT: Interestingly enough the calculation on margin trading for going long and short seems completely botched. Untick "include variable rates" and check and it still says 8050 btc available at 0.11 to 0.43 per day. Couldn't be further from reality.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 15/03/2015, 12:01:50 UTC
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.
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 15/03/2015, 11:49:39 UTC
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
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 14/03/2015, 12:55:23 UTC
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?
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 06/02/2015, 19:37:03 UTC
The display of swap funds is glitched. The numbers change upon reload and offers keep appearing and disappearing. Please look into that.

EDIT: Seems like it already works normally again.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 21/01/2015, 06:47:33 UTC
My view is similar to sangaman on this. If they wanted to inside trade on a big scale they would likely do it not on their exchange just like insiders often trade through third persons. If bitfinex was actively and automatically trading against its users by front running, stop huntingen etc. they wouldn't tell us anyway.
It's best to keep a close eye on trading/the order book just like people are doing now and mentioning any possible manipulations like the volume manipulation that is rampant on zero fee exchanges. If something like that on BFX happens be sure to notify people.
Mjr has mentioned countless of times in the past that he is prodiving swaps on BFX which initially made me wonder as well but I guess it's to be expected in an unregulated market like this.

What I'd like to see from BFX in the near future is the following:

1. An official statement on their policy regarding inside trading and a promise that their employees/founders are not actively trading against BFX regular users.

2. An official statement regarding the potential losses incurred through the Egopay incident and how they will be shouldered.

3. An explanation about "tether". It seems clear that tether has a direct affiliation with Bitfinex and I want to make sure BFX stays safe when they enter the international money transmitter business. Some former companies like liberty reserve got burned very badly for their operation. Why is tether already integrated into Bitfinex if it is not even usable at the moment?


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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 05/01/2015, 15:31:24 UTC
So now, Bitfinex, tell us, that Bitstamp is down and possibly hacked: Do you have meaningful funds left on Bitstamp that could cause liquidity problems for your operation?




Wow, we've gone full swing to traders wanting outright manipulation and market fixing to protect their rates. The solution is quite simple, first, remove FRR. With the number of autolending bots, there's no need for it.

Second, put lend durations on their own books. Have, say, four lend books total, 2 day, 7 day, 14 day, and 30 day. This more accurately reflects how true fixed interest markets work. It would also prevent bid/ask from crossing. Additionally, because the lends are callable (the borrower can end the loan and return the funds at any time) borrowers can automatically take the best rate from any book they want. All the time duration risk lies on the lender and can be reflected in yield curve.
+++++
Barabbas is making some clever and useful proposals for changing the swap market and making it more efficient. I've already given up on BFX changing anything fundamental though and now it's merely a question for me whether keeping the funds on the platform is worth it or not.

Did the algorithm change already, somehow?

Yesterday, while there was HUGE demand for BTC-swaps in the selloff to ~$260, the BTC-FRR sharply DROPPED from about 0.11% to 0.07%.

The only way this could possibly explain that imo is:
- FRR calculation model changed or
- someone accidently lent out a big amount of BTC for 0.01 instead of 0.1, or some similar mistake.
Funny thing is that now that BTC swaps have risen in interest rate they seem to suffer from the exact same FRR related problems USD swaps have been plagued with. I'm wondering whether BTC swaps have only been so low the entire time because of the FRR related mechanics as even mjr seemed to be wondering about the normally super low rate of BTC swaps.

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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 28/12/2014, 14:16:41 UTC
Yeah, guys. We're at an all time low now in USD swap rate. The effective compounded interest rate has never before been consecutively below 10 % p.a. for more than 24 hours. And we are still at +21 m in total swap amount. I am wondering whether new lenders are still moving into business at that rate. The adjusted risk is not worth it imho. It effectively costs me about 1 % of the original amount to get USD onto BFX. An investment I would recoup in 1 to 4 days when I started lending on BFX. Now it would take more than a month with the clear possibility of the rate dropping further to like 5 % p.a.. And there are other problems to consider as well: Not everybody in Bitcoinland comes from the US so exchanging your local currency into USD incurs significant risk of change in currency exchange rates against you which either needs to be hedged (more costs) or taken into account. While currency exchange risk is virtually nonexistent at interest rates of 50% to 370 % p.a. like we are used to 10 % p.a. in profit can easily be wiped out. The Euro for example dropped nearly that in the last 6 months relative to the dollar. Who is to say that this doesn't reverse eating all lending profits.
For the upside potential, well, if bitcoin doesn't reverse its downtrend heavily interest rates won't bump for quite some time or possibly ever and any bumps will probably be smoothed long-term as long as the retarded FRR feature is in place. There is also more and more competition that lets you trade on margin (less serious, secure and well-made than BFX though (yeah, I'm talking about these disgusting chinese futures bucketshops)) so the natural swap demand might continue to decrease even if the supply stays the same.

Just a fair warning to all potential liquidity providers. BTC swaps have gotten quite a bit more attractive though (more than double the USD rate at the moment with quite the possibility of the underlying asset to drop 5 % on a bad day though).

....
What you will seemingly always fail to realize is that the FRR arbitrarily decides where this race to the bottom starts because it builds an upper ceiling for the practically achievable rate. When we had the btcusd run-up to 470 6 weeks ago the swap offer orderbook was completely wiped out up to 1 % per day. The FRR that had previously given out millions for scraps (0.08 %) without scaling upwards a single bit because of the increasing demand then continued to shell out the lenders' money for scraps anyway barely adjusting to the vastly different market conditions. The FRR maximum was at like 0.13 % quickly dropping down to 0.09%.

Why in the world would I as a swap provider want an algorithm to lend out my money for 0.1 % when I could get 0.9 % at that time? What if the FRR which never rose beyond 0.13 % didn't pile up at 0.09 % (it only did so because of the faulty algorithm it uses) but at 0.6 %? Maybe then we would now be at 0.15 % and not at 0.03 % having wasted 90 % of our upward potential (0 % - 1 %).

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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 15/12/2014, 01:08:22 UTC
Just a heads-up:
2FA seems to treat "000001" and "1" the same - while ignoring leading zeroes is not THAT much of a problem (still a large search space), it is still something that could/should be fixed in your backend.
Interesting. It also ignores additional non numer signs like if you type 48458# instead of 48458 it will be accepted.
 
One thing I'm not certain of, as there are so few opportunities to really test it, is whether the same applies for unused swaps.

I have before now had a 30 day reservation taken out on a block of funds, which the trader then proceeded to trade very very slowly into a position - like, $3 at a time, and each time they broke off another $3 piece to convert into a 'used' swap, the time remaining counter on the unused remainder seemed to reset back to "about 1 month" or, shortly later, "30 days", even while the remaining time on the active swaps (the funds for which had originally been the same block) ticked down to 29 or 28 days.

They returned the whole lot long before it became relevant, but it left me with the impression of a loophole around unused swaps.


this is what I have noticed too, mine is closer to "expiring"  14th Dec (30 days from 14th Nov) but still 12 days to go

same with my unused swaps......this bug must be fixed...gives me the impression of a loophole ...I stopped offering.until it is fixed.or paid on time...awaiting some comments from you and/or from the support.

Hooray!!!!!!....finally the swap was paid on time......the support DIDNOT respond to my messages..... and I was a bit nervous reminding me  the Gox days....
Are you guys talking about normal USD swaps? I've never encountered something similar and the swap payment seems consistent with the rate at the moment.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 06/12/2014, 04:43:11 UTC
Oh cmon, it seems like BFX is really in no hurry to change anything about the fuckin FRR

we're sitting at nearly 25 m in open swaps, the great wall of low interest was sieged multiple times, almost a million taken off in the last 24 hours and now we are going back down again. It's a joke. There is no reason why this wall of doom has to sit where it's sitting now I hope some people can get that into their brain as fast as possible. The depth of the book is pathetic after the wall. Not even 100k from 0.0709 to 0.121 because nobody in their right mind puts offers above a 2,5 m offer wall.

We've climbed from 23 to 25 m in the last 5 days and the rate went from 0.0715 to 0.0709. It just deoesn't care.
BFX, fix your shit, it's getting stupid. Lots of volatility, lots volume and swap demand and the swap "price" is inelastic as fuck....

Then don't lend.  If 25M worth of people weren't happy with these rates they wouldn't lend out at it.  Welcome to the free market.
"Free market". You use that word yet I don't think that you actually understand what it means. How is "welcome to the free market" supposed to counter my criticism? Are you actually implying that every participant in this market acts rationally and that the design of a market doesn't have a huge influence on its behavior and that Bitfinex as the creator of this market can't change it as they please? I'm not happy with these rates and I'm even more unhappy with the way these rates are created by the stupid FRR feature which BFX has already announced to change yet I still lend out money because this situation is a classic dilemma. What now? What does this have to do with "free market"? Realise that the "free market" is a theoretical concept which has no relevance to this discussion. The maximum swap rate is 7%. For this reason alone this is technically not a free market......
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
DoubleSwapper
on 05/12/2014, 22:38:22 UTC
Oh cmon, it seems like BFX is really in no hurry to change anything about the fuckin FRR

we're sitting at nearly 25 m in open swaps, the great wall of low interest was sieged multiple times, almost a million taken off in the last 24 hours and now we are going back down again. It's a joke. There is no reason why this wall of doom has to sit where it's sitting now I hope some people can get that into their brain as fast as possible. The depth of the book is pathetic after the wall. Not even 100k from 0.0709 to 0.121 because nobody in their right mind puts offers above a 2,5 m offer wall.

We've climbed from 23 to 25 m in the last 5 days and the rate went from 0.0715 to 0.0709. It just deoesn't care.
BFX, fix your shit, it's getting stupid. Lots of volatility, lots volume and swap demand and the swap "price" is inelastic as fuck....