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Showing 20 of 33 results by freakbits
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 02/03/2015, 13:51:55 UTC
Question about swap mechanics:
Is it possible to take swaps that are offered at a low rate and simply re-lend them out at a higher rate?
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 22/11/2014, 03:20:57 UTC

So, if I add all that and make it compete with you for being active, you will see higher or lower rates? In other words, the more effort you put in (writing a bot), the better your returns. Those who "set and forget", won't make as much, but more importantly, they will not compete with you who do want to actively manage (via bot) your positions.

and of course they compete... they compete by setting an unnatural, unmanaged wall above which no other loans will go out, thereby creating a high limit I can't go above.
I just hope that your bot isn't costing me (as someone who isn't using it) money in the end. In one way or another.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
freakbits
on 21/11/2014, 19:04:48 UTC
As long as the miners cant pay for electricity in bitcoin they will have to sell bitcoin for fiat, obviously.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
freakbits
on 20/11/2014, 17:27:41 UTC
Ripple is hardly a 2nd mover to bitcoin, because it's a completely different system.
Ripple is centralised and belongs to a single company, it's not free as in freedom, like bitcoin, but more like amazon bonus dollars or similar pointless additions.
In short: if someone tries to tell you that ripple could be anything like bitcoin he's simply trying to scam you (or he's an idiot who doesn't understand a thing about bitcoin).
Also, im tired of reading ripple spam on this bitcoin-forum, post your private-company-money scams elsewhere please.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 18/11/2014, 15:45:39 UTC
BTC swap rate is also terribly low even when the market was/is bearish.
Can we get a swap fee reduction from 15% to 10% maybe? Currently it's like 2.5% interest per year or less, hardly worth it.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 15/11/2014, 17:25:21 UTC
Actually I'm not sure about FRR-related statements of mine from before anymore.

But I still think FRR should
- adjust upwards faster. It must not happen that FRR is among the lowest offers in the list or even the lowest
- be located at a higher % of the average rate of all swaps (not counting the FRR-swaps themselves). Right now FRR has about 40k below and 500k above it.
- always have a 30 days long swapping period.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 14/11/2014, 23:56:05 UTC
The FRR acutally breaks any true supply and demand scenario because it allows lazy people who might not even watch the rate changes to drag down everyone else in a spiral, until some weird correction spike happens in large time intervals.
The FRR does this by
-reacting slowly to upward movements (not a primary reason though, just amplifying the effect somewhat)
-creating a negative feedback loop that does not ALLOW anyone to offer higher rates than those low ones provided by the lazy swappers (frr auto-renewers), only lower rates are ok (as you said about your own bot).

It's a forced spiral downwards fueled by telling people "just put your shit on auto-renew and you won't have to care about anything". Now it's of course right if people who do that will get low rates because they take the easy route. But thanks to the way FRR is implemented it will at the same time drag down everyone else who is not lazy.

The difference to a real supply and demand scenario is that here you basically say "oh, and everyone who is really lazy will automatically impact the swap rates downwards strongly". That's not something that would usually happen in a real market. If all my competitors in a real market decided to be really lazy, then MY PROFITS WOULD RISE, NOT GO DOWN.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 14/11/2014, 18:20:42 UTC
Isn't the USD-FRR completely broken right now? There are lots of offers at ridiculously low rates and the FRR isn't even showing up. Is that a manipulation attempt to dump the frr? I'm not offering my swaps at this rate! It's even lower than in the most bearish weeks.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 13/11/2014, 04:26:59 UTC
What the hell?!?!
That the hell is wrong with the user interface?!?!!
You evil stupid bastards! You have cost me 300 dollars or more!

When I click "cancel all orders" I expect all orders to be cancelled!
When I click "buy", I expect order to be executed!

It took a minute or so until the system accepted that I demanded for the orders to be cancelled and then several eons until I was able to type in a simple MARKET ORDER for which there is NO BUTTON; but anyway, the price has run away by more than 15 dollars in the mean time, so I wish you many nightmares.

Seriously.

You must be kidding!

P.S. I already heard some wealthy people complaining about your buggy system and only now I understand what did they mean. Of course, they are no longer on bitfinex.

I'm not 100% sure your posting style is the best one to get attention/help.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 12/11/2014, 00:53:28 UTC
anything that requires a separate device to authenticate when logging in on your pc.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 11/11/2014, 01:57:23 UTC
Hm that sucks. Maybe frr should get removed if it doesn't work? Or at least put into the upper third of all swaps instead of the exact average, so it doesn't press down on manual offers. (I suggested that before.)
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 10/11/2014, 23:21:14 UTC
guys, please never do any of these things on a pc that you're using to access bitcoin:

-use Windows as operating system (use Linux instead, 'Mint' is a good variant)
-use Flash in your web browser
-use Java in your web browser (not to be confused with javascript, which is mostly ok)

and always do this:
-use two-factor-authentication
-make backups on at least one external medium that is disconnected from power and from your pc while not in use for the backup process

The worst part is really using Windows without 2FA (two-factor-auth). That's just asking to get your stuff stolen.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 10/11/2014, 20:26:28 UTC
Nice, thanks.
Can anyone explain why the swap rates aren't rising even though bitcoin price is rising?
I'd assume people would go long and need more swaps to do so.  Huh
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 10/11/2014, 18:45:57 UTC
Hi all, I really don't know how to respond to those questions. I mean, I think our reputation speaks for itself, but everyone is entitled to their own opinion. It really comes down to personal preferences, and in fact, from the level of risk aversion, bitcoin itself sounds like it might be too scary for this person.

How do you know that any business where you have an account would honor it? Typically, they would be regulated, as Bitfinex is. We are a registered Money Services Operator in Hong Kong. Other ways that you could gain trust would be by users, and we are the largest USD exchange. You could also look at time, and we are one of the oldest bitcoin exchanges still in existence.

As I said, each person needs to make up their own mind, but hopefully that is some more information to help you do so.

-Josh
Nice, that sounds good. Could you please let us know your license number under which you are registered?
The problem is that I went to the Hong Kong MSO (money service operator) register here:
    https://eservices.customs.gov.hk/MSOS/wsrh/001s1
and entered BITFINEX into the search field but I got zero results. What am I doing wrong?
Thanks in advance and keep up the good work.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 28/10/2014, 01:55:39 UTC
I don't get this "delta" idea.
Noone would offer his swaps at FRR _plus_ some delta, because it'll be above the usual wall of FRR that will exist at FRR+/-0.
So the only way swap rates would move is downwards continuously.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 25/10/2014, 10:49:40 UTC
To put this as simply as possible, market for swaps is driven by the rising price of bitcoins, not the cost of swaps.  Can we agree on this?
No we can't, both are obviously responsible for the market. And the swap fee also plays a part in it.
On a side note, stop your immature troll-style postings please, I doubt your rage crap will have positive effect on convincing the Finex guys of anything.
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Re: bitcoin-trader.biz
by
freakbits
on 23/10/2014, 11:43:17 UTC
Doesn't matter what the fee is. Sorry, that 'explanation' writte above might sound ok to average joe reading it, but as a trader myself I feel compelled to strongly warn everyone about investing in this, I'd say there's a very big possibility that you will just lose all your money because it's a scam.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 19/10/2014, 17:38:16 UTC
Are those certificate problems still existent? I don't dare to log in now after reading that.

And in general, it'd be nice if the lock was green instead of gray.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 16/10/2014, 17:41:11 UTC

Why do you think a 2 day term would be less attractive to traders?  I thought that traders could just keep replacing one swap with another for as long as they wanted.  One trader posted that he could keep a position open with 2 day swaps for as long as he wanted. He said that it was annoying but that he does it all the time.  Could you tell me what I'm missing?

You are not missing anything, I was aiming at exactly the "convenience" factor, nothing more. If he says that it is "annoying" I assume that means it is less attractive to him. And as I wrote I don't really like this idea much anyway.
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Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
freakbits
on 16/10/2014, 11:43:17 UTC
@bitfinex,

Any updates on POODLE? I just emptied my account just in case, and checked that SSLv3 is enabled in your site:

Code:
$ openssl s_client -connect bitfinex.com:443 -ssl3
[…]
New, TLSv1/SSLv3, Cipher is ECDHE-RSA-RC4-SHA
Server public key is 2048 bit
Secure Renegotiation IS supported
Compression: NONE
Expansion: NONE
SSL-Session:
    Protocol  : SSLv3
[…]
Why is there no statement about this exploit anywhere? You should put something up on the homepage right after it became known.