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Bifinex funding

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jagas
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Bifinex funding

Tue Apr 30, 2019 9:20 am

Hello,

So for one week now i have been reading and following this because we arbers need addidtional investments and source of fund.  Bifinex informs that one can get interest per day or week when you lend out money to other investors to invest for you. I can see an interest return as much as 0.077% per day. So i started Lending.

For a start, i added 1000 dollars for lending, hoping to get 0.07 x 1000 per day = 70 dollars per day, and i am wondering why is everyone not doing this?
since it is risk free or am i missing something
pythonic
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Re: Bifinex funding

Tue Apr 30, 2019 10:04 am

Investments that sound too good to be true usually are not true.
Are you talking about bitfinex, the crypto trading platform?
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Re: Bifinex funding

Tue Apr 30, 2019 10:24 am

Its a complete scam and you will lose every cent you send them.  !!!
Never trust a goose!!!
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Re: Bifinex funding

Tue Apr 30, 2019 10:35 am

Are you sure you are in arber ? Because you re math is completely  wrong.
It says 0.07% .
From you re calculation it's 7% interest
Last edited by ArberPro on Tue Apr 30, 2019 10:42 am, edited 1 time in total.
jagas
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Re: Bifinex funding

Tue Apr 30, 2019 12:22 pm

well guys, that is why i am asking. You can login to Bifinex and check on the funding. Peer to peer Lending.

I am asking alot about this and trying to get more information and of course i know about the too good to be truth thing
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X_Gambler
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Re: Bifinex funding

Tue Apr 30, 2019 1:46 pm

Your calculation is off, you will get 0.7$/day (instead of 70$/day).
This rate is only applicable to BTC. The price of a bitcoin is fluctuating more per day

The key question I would ask myself : how confident are you in storing huge sums on crypto exchange who are not protected by a deposit insurance?
jagas
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Re: Bifinex funding

Tue Apr 30, 2019 2:07 pm

X_Gambler wrote: Your calculation is off, you will get 0.7$/day (instead of 70$/day).
This rate is only applicable to BTC. The price of a bitcoin is fluctuating more per day

The key question I would ask myself : how confident are you in storing huge sums on crypto exchange who are not protected by a deposit insurance?
Thank you, i just found out about that calculation some few minutes ago from someone using same method. It is nice though because it is kind of risk free but like you pointed out, that question has to be considered and most importantly the unsteady price of bitcoin because if you are at the downside, all you daily percentage will disappear with it even when you are paid.
pythonic
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Re: Bifinex funding

Tue Apr 30, 2019 8:12 pm

Bitfinex is also being sued by its regulators currently and has possibly lost hundreds of millions.
Just saying.

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