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[ANN] [USDbitfnx]The first dividend paying USD asset(~30%p.a.) !!>250 DAYS OLD!! singapore
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Author Topic: [ANN] [USDbitfnx]The first dividend paying USD asset(~30%p.a.) !!>250 DAYS OLD!!  (Read 75189 times)

Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #140 on: July 24, 2014, 12:53:12 am »

Just received the first interest payment: 2,12 USD!!

Balance now @ 3,259.98 USD with more deposits pending.
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #141 on: July 24, 2014, 01:02:57 am »

You can now buy more USDbitfnx @ 23.5 NXT (~70 USD) in the NXT AE.

Once someone buys them I will use the NXT to deposit at bitfinex and gather more USD. This way the asset will get more liquid every day!

Someone bought 2500 USDbitfnx, now I have to redeposit that so it will take some time to offer a new ask on the NXT AE. More tomorrow.
« Last Edit: July 24, 2014, 02:18:00 am by Bitfinex_USD »
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #142 on: July 24, 2014, 01:15:17 am »

What is the current balance of the bitfinex account?
The name of the USDbitfnx account is: NXTpassthrough
Current balance of the account: $4655
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Dervish

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #143 on: July 24, 2014, 07:39:36 am »

ups... to late
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abctc

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #144 on: July 24, 2014, 08:40:57 am »

ups... to late
- why "to late" ?
FAQ:
BTC deposit: Just send me a PM here or on NXT-BQK9-UDGP-2Q97-49H3L and I will provide you with a BTC-Deposit address. The BTC will then be exchanged for USD asap on bitfinex. The equivalent USD amount will be sent to your NXT account using the USDbitfnx asset.
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Eadeqa

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #145 on: July 24, 2014, 09:03:08 am »

how this thing is a equivalent to  US dollars unless I canit cash it for a US dollar?



« Last Edit: July 24, 2014, 09:07:33 am by Eadeqa »
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #146 on: July 24, 2014, 09:10:49 am »

how this thing is a equivalent to  US dollars unless I can cash it for a US dollar?




Because a "real" USD is deposited at bitfinex.com. So at anytime you can take this USD and exchange it against BTC LTC or DRK on bitfinex to receive the exact amount minus fees that 1 USD is worth. The amount of USD at our bitfinex account will be audited once a month too.

ups... to late

If you are referring to the promotion, yes, sorry!

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vitvert

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #147 on: July 24, 2014, 09:20:41 am »

NXT-JN4N-F5S9-SGQ8-D4JCB
(registered on the bitcointalk for a long time  :)
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #148 on: July 24, 2014, 09:22:19 am »

NXT-JN4N-F5S9-SGQ8-D4JCB
(registered on the bitcointalk for a long time  :)

Sorry buddy, the promotion is over :(

If you still want USDbitfnx, you can deposit using BTC or NXT or buy on the NXT AE once my funds arrive and I put a new ASK order online.
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Eadeqa

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #149 on: July 24, 2014, 09:22:19 am »

Because a "real" USD is deposited at bitfinex.com. So at anytime you can take this USD and exchange it against BTC LTC or DRK on bitfinex to receive the exact amount minus fees that 1 USD is worth. The amount of USD at our bitfinex account will be audited once a month too.

How do people transfer the USD asset to bitfinex.com ?
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #150 on: July 24, 2014, 09:25:02 am »

Because a "real" USD is deposited at bitfinex.com. So at anytime you can take this USD and exchange it against BTC LTC or DRK on bitfinex to receive the exact amount minus fees that 1 USD is worth. The amount of USD at our bitfinex account will be audited once a month too.

How do people transfer the USD asset to bitfinex.com ?

Are you referring to the redeeming of this asset?

Then: I will handle the withdrawals and follow the given orders. E.g.: if you have 1000 USDbitfnx and for some reason decide that you think it is better to withdraw them directly instead of selling them on the NXT AE, then send me a PM and as soon as 1000 USD are not stuck within loanss, I will exchange them against BTC or BTC->NXT and then send them to you. I wrote some more details about that in the opening post.
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Eadeqa

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #151 on: July 24, 2014, 09:39:52 am »

Then: I will handle the withdrawals and follow the given orders. E.g.: if you have 1000 USDbitfnx and for some reason decide that you think it is better to withdraw them directly instead of selling them on the NXT AE, then send me a PM and as soon as 1000 USD are not stuck within loanss, I will exchange them against BTC or BTC->NXT and then send them to you. I wrote some more details about that in the opening post.

Can it be made automated where people can transfer  USD instantly (10 confirmation?) to USDbitfnx account? Why the PM?
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #152 on: July 24, 2014, 10:05:36 am »



Can it be made automated where people can transfer  USD instantly (10 confirmation?) to USDbitfnx account? Why the PM?


What exactly do you mean? The deposit process or the withdrawal process?

I don't want to automate anything, because once there is a server in the game, the security risk explodes! Keeping everything manual will make some things slower at the start, but once there is enough liquidity, the depositing and withdrawing will become completely unneccessary, that is the beauty about this concept!
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #153 on: July 24, 2014, 10:14:08 am »

Deposit just came through!

You can now buy more USDbitfnx @ 24.5 NXT (~2338 USD) in the NXT AE.

Once someone buys them I will use the NXT to deposit at bitfinex and gather more USD. This way the asset will get more liquid every day!
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sparta_cuss

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #154 on: July 24, 2014, 10:54:58 am »

Please tell me if my thinking and calculations are correct here.

If I buy one USDbitfnx asset, then I am putting a dollar's worth of liquidity into the Bitfinex market, and getting a dollar's worth of stake, in terms of fee generation.

Asset cost: 24.5 NXT
Right now, NXT is trading at ~$0.045837 per NXT
That gives a price of $1.1230065 per asset.
So I am paying 12.30065 % over the cost of that dollar's worth of stake.
I hope to gain ~0.16 % of interest per BitFinEx dollar (according to your OP).
If I intend to redeem USD from you, rather than selling on the AE, how long do I have to wait to break even (to pay for the 12.30065% premium to participate)?

(I will most likely sell via the AE at some point, or just keep this lucrative, dividend-paying asset for a long time. I just want to know how to calculate the break-even point.)
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #155 on: July 24, 2014, 10:59:56 am »

Please tell me if my thinking and calculations are correct here.

If I buy one USDbitfnx asset, then I am putting a dollar's worth of liquidity into the Bitfinex market, and getting a dollar's worth of stake, in terms of fee generation.

Asset cost: 24.5 NXT
Right now, NXT is trading at ~$0.045837 per NXT
That gives a price of $1.1230065 per asset.
So I am paying 12.30065 % over the cost of that dollar's worth of stake.
I hope to gain ~0.16 % of interest per BitFinEx dollar (according to your OP).
If I intend to redeem USD from you, rather than selling on the AE, how long do I have to wait to break even (to pay for the 12.30065% premium to participate)?

(I will most likely sell via the AE at some point, or just keep this lucrative, dividend-paying asset for a long time. I just want to know how to calculate the break-even point.)

Hey sparta_cuss,

I put up the order just for adding some liquidity to the market and making it easier to buy into this. The markup is to encourage people to rather use the BTC deposit option. That way you pay only the 0.2 % exchange fee and nothing else.

At a 12% premium (wasn't intended, I just put up the order now because I need to go later and BTC price and NXT price was in a downwards trend) you would need about 80-100 days to break even, but I expect this asset to trade at a premium, so most likely much earlier!
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sparta_cuss

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #156 on: July 24, 2014, 11:07:34 am »

Please tell me if my thinking and calculations are correct here.

If I buy one USDbitfnx asset, then I am putting a dollar's worth of liquidity into the Bitfinex market, and getting a dollar's worth of stake, in terms of fee generation.

Asset cost: 24.5 NXT
Right now, NXT is trading at ~$0.045837 per NXT
That gives a price of $1.1230065 per asset.
So I am paying 12.30065 % over the cost of that dollar's worth of stake.
I hope to gain ~0.16 % of interest per BitFinEx dollar (according to your OP).
If I intend to redeem USD from you, rather than selling on the AE, how long do I have to wait to break even (to pay for the 12.30065% premium to participate)?

(I will most likely sell via the AE at some point, or just keep this lucrative, dividend-paying asset for a long time. I just want to know how to calculate the break-even point.)

Hey sparta_cuss,

I put up the order just for adding some liquidity to the market and making it easier to buy into this. The markup is to encourage people to rather use the BTC deposit option. That way you pay only the 0.2 % exchange fee and nothing else.

At a 12% premium (wasn't intended, I just put up the order now because I need to go later and BTC price and NXT price was in a downwards trend) you would need about 80-100 days to break even, but I expect this asset to trade at a premium, so most likely much earlier!

Ok, thanks. Now I see what the 12% markup is for. I think I will PM you and deposit BTC. (I will need to sell something to get BTC, so I'll talk to you later.)
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #157 on: July 24, 2014, 11:10:03 am »

Please tell me if my thinking and calculations are correct here.

If I buy one USDbitfnx asset, then I am putting a dollar's worth of liquidity into the Bitfinex market, and getting a dollar's worth of stake, in terms of fee generation.

Asset cost: 24.5 NXT
Right now, NXT is trading at ~$0.045837 per NXT
That gives a price of $1.1230065 per asset.
So I am paying 12.30065 % over the cost of that dollar's worth of stake.
I hope to gain ~0.16 % of interest per BitFinEx dollar (according to your OP).
If I intend to redeem USD from you, rather than selling on the AE, how long do I have to wait to break even (to pay for the 12.30065% premium to participate)?

(I will most likely sell via the AE at some point, or just keep this lucrative, dividend-paying asset for a long time. I just want to know how to calculate the break-even point.)

Hey sparta_cuss,

I put up the order just for adding some liquidity to the market and making it easier to buy into this. The markup is to encourage people to rather use the BTC deposit option. That way you pay only the 0.2 % exchange fee and nothing else.

At a 12% premium (wasn't intended, I just put up the order now because I need to go later and BTC price and NXT price was in a downwards trend) you would need about 80-100 days to break even, but I expect this asset to trade at a premium, so most likely much earlier!

Ok, thanks. Now I see what the 12% markup is for. I think I will PM you and deposit BTC. (I will need to sell something to get BTC, so I'll talk to you later.)

I just need a NXT deposit address for the assets and then I will send you a unique BTC deposit address. After that you can take as long as you want.
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sparta_cuss

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #158 on: July 24, 2014, 11:19:36 am »

Wouldn't it be possible to make a quick ~12% gain on Nxt by sending BTC to you, getting the assets, and then selling the assets on AE just below your offering price of 24.5?

I know this would not add as much liquidity to Bitfinex, but as long as your fee to do the deposit is so high, it encourages this arbitrage, doesn't it?
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #159 on: July 24, 2014, 11:22:22 am »

Wouldn't it be possible to make a quick ~12% gain on Nxt by sending BTC to you, getting the assets, and then selling the assets on AE just below your offering price of 24.5?

I know this would not add as much liquidity to Bitfinex, but as long as your fee to do the deposit is so high, it encourages this arbitrage, doesn't it?

It isn't really arbitrage but yes, totally possible, also this would increase the liquidity! The more USD gets deposited, the higher the demand to trade should get.

But obviously, I would also lower my offer if someone would undercut me. That is what a market maker does ;) (As soon as we reach a good amount of USD, I will post a relatively good BID/ASK spread.)
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