POLONIEX LENDING: OVERNIGHT LONGS EDITION

>>2039924
Usury is a mortal sin

>>2039924
Redpill me about lending my BTC like a jew to plebs.

>>2039931

I use poloniexlendingbot.com. set it up, then set the minimum interest rate at a rate youd be willing to loan for a long time like 60 days.

Polo has a ton of newbies that dont understand interest but think they are pro traders because they doubled their allowance this week holding some shitcoin.

when this crypto bubble pops these bagholders will be irrationally afraid to sell at a loss so they will keep paying you super high interest per day instead of trying to buy back in with a lower rate.

with compounding im making a killing.

>>2039924
You get .45% I get 12% off the funds. Thanks anon.

>>2039969
That's a daily interest rate. What fund is getting you 12% a day?

>>2039969
are you poloniexlendingbot?

>>2039983

When I take these loans I don't care if I'm paying half a percent per day. I'm getting in on these big gains and make way more.

That said just checked and my highest ones I've taken right now are .25%

>>2039986
I trade on margin on polo

>>2040008
ah i thought you werent taking any risk for a second. well congratulations on your consistent winning hope it works out for you, and thanks for taking the loans.

>>2039924

Someone tell me how this works?

>>2039951

How many coins do you have loaned out right now and what are your average interest rates?

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>>2039926
This
fpbp

Hahaha yeah the fucking scrubs. I locked in 2 BTC for 60 days at 0.8% the other day. Do these fuckers even know how to trade or are they just making so much it's worth it even at those rates?

>>2040511
>they just making so much it's worth it even at those rates
Yes

>>2039951
What lending rates do you recommend m8?

Also, do you trust the bot... ? The thought of having a software manipulate my btc is irksome.

>>2040552
You can't lose money with lending,
and you can configure the Poloniex API to only lending, not trading or withdrawal.

wait so hold on

I get 0.45% interest everyday for 60 days?

>>2039924
This would earn you 1.5 BTC minus fees over 2 months

It's not worth having your funds locked up

>>2040560
Yes

This is also why POSW is useless
You get a much higher ROI by simply lending Bitcoin.

>>2040563
holy fuck.

what does the 60 days mean then?

they have till 60 days to pay it back?

if they pay back early, I need to offer a loan again right?

>>2040569
The loan is up to 60 days. It gets canceled when the margin position is closed.

>>2040561
I thought it's good to hold BTC as an investment?

why not lend it out, rather then it sitting in a wallet.

>>2040569
>if they pay back early, I need to offer a loan again right?
Yes, that's why you really need a bot that manages everything automatically .
https://github.com/Mikadily/poloniexlendingbot

You can configure a minimum rate and various other options.

>>2040585
this the same as
https://www.poloniexlendingbot.com/

>>2040584
You could be earning much more margin trading. Lending is definitely a "safer" option though. Gets better the more BTC you have too.

Lending yields around 20-40% APR compounded.
If you have 100-150 BTC, you won't have to work again.

>>2039924
When I read through the sites warnings though it sounds like the person taking the loan could make poor trades and only be subject to pay back a portion.
Is there any risk to lending?

example if your exchange has 3x leverage then someone with 1k will now have 4k. so they take a loan from you for 3k and does the exchange force close and payback as soon as they lose the 1k they had?

>>2040646
Poloniex never had a defaulted loan
Failing trades are liquidated automatically

Making tons doing this. Easy money with no risk at all.

I made like 4 btc since february

Is it more profitable, at least in the long run and if you have no btc, to convert gains from ETH or other alts back into btc to loan it out?

>>2040680
You can also lend ETH

>>2040686
ETH lending is sad, very low rates

>>2040686
>>2040693
Most of my ETH is on coinbase atm anyways. Although I suppose I could take the fee and move it if it's more profitable than just riding the price surge.

>>2039951
do you have to be constantly signed in on poloniexlendingbot.com? or can you just give it your api key and then shut down your pc after you have activated it and deposited your funds + bot credits?

>>2040664
how much are you lending, at what interest?

I have 6 btc to lend.... Sounds too good to true

why use bot if there's autorenewal option?

Best cryptos to lend?

>>2040742
okay i got it, on autorenew there's a chance to get a loan like that:
BTC 0.4000% 0.00000001 60 Days Off Provided 2017-05-07 09:19:03 0.00000000 BTC

which is 0% in the end i guess

I guess the biggest risk here is Poloniex getting "hacked" and you kissing your coins good bye. 0.45% per day is how much exactly? Let us say I deposit $10'000 worth of BTC.

0.45% means I get 4.5$ per day from lending them, and that is only during this bull run, it will go down later.

So even if I run this for a month I get 4.5*30=135$.

That is not much and my coins have probably risen in value a lot more during that period + you have the risk of Poloniex getting "hacked" and you losing everything.

>>2040595
>If you have 100-150 BTC, you won't have to work again.

I have high doubts that is the case.

The high lending offers like these are only active during bull markets. When Bitcoin was stale they were like 0.02%

>>2040796
it's actually 1350$ in 30 days as you get $45 daily over $10000 at 0.45%

which is 13,5% over 30 days

Can I lend my 0.4 btc?

How about other coins, can I lend them too?

>>2040814
Dang, my mistake. You are right.

That is a pretty good deal.

So that lending bot is safe for sure?

>>2040834
i just started using it, it seems slow to me right now as it's not immediately putting in new orders when loans expire and people seem to be cancelling their loans every 5 minutes so you aren't exposed constantly, the bot also takes 10% off your profits

i loaded the bot with 0.01 btc and my lending account with 0.1 btc and if i like it i might put in more

>>2040852
>the bot also takes 10% off your profits

I don't understand this. How can it "take" your profits? The poloniex API can be setup so it withdrawals are not allowed.

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>>2040860
that's why you have to load it up beforehand manually, the bot won't work anymore when what you have loaded up is used up

pic related

>>2040862
sounds like scam

>>2040866
could be, that's why i'm testing with 0.01 btc, if it turns out to be a scam i will only have lost 0.01 btc

>>2040866
>https://github.com/Mikadily/poloniexlendingbot
>And the best feature of all: It is absolutely free!

>>2040862
>>2040866
Yeah, I don't get this. How do I know it is not malware that will steal my shit? Then again with Polo API I guess you cannot really do much if you don't allow withdrawing and stuff.

>>2040871
>And the best feature of all: It is absolutely free!

Free cheese is only in the mouse trap, what do they get from this?

>>2040871
>https://github.com/Mikadily/poloniexlendingbot

and

>poloniexlendingbot.com

What is the difference between these two? One takes 10% and the other one doesn't?

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>>2039926
oy vey

>>2040872
exactly, the polo api is limited to only placing orders, that's why you have to manually add the fees to the bot, as for now it seems to be working okay

>>2040862
Get the source from github like that guy >>2040585 told you, and then set it up on a raspberry pi or let it run on your pc. The website you are using does nothing else, they just run that code for you and for doing that they are charging you. And 10% of my profit is no amount I'm willing to pay to let someone execute a python script.

>>2040885
okay, thanks, i'll look into it and keep using the website until my 0.01 btc is used up.

>>2040874
>Free cheese is only in the mouse trap, what do they get from this?
that's called open source. i guess its more secure than poloniex itself (or not)

>>2040003
i don't quite understand what is going down here?
do you:
>borrow 1btc (for example) at .25%
>buy and sell that for the whole period of loan from btc to usd, making the difference?

i don't understand the mechanics of making LONG money from borrowed btc. how can you sell borrowed btc if poloniex always has to have your account positive in btc to pay it back?

i'm not going to do this (no btc, but other coins), but would be grateful for a quick rundown from someone

>>2040885
So that Mikadily script is free with no fees? I have a computer that I run programs on 24/7.

>>2040897
people put in collateral so they can lend more btc to be exposed to more gains (and losses) whenever you're long and btc loses as much value as your initial collateral you'll be liquidated so you can pay back the people you loan from

>>2040903
and your btc leveraged holdings loses as much value in $****

>>2040903
>>2040905
so they borrow btc at x%, add it their own btc and loan all of that at x+n%.
if the price falls, they pay back the loaned money?

>>2040914
if the price falls below a certain threshold they will be forced to liquidate to insure they can back the person who loaned, on a 2,5 leverage for example btc *only* has to plummet 40% to lose all of your money

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kek

>>2040927
jesus fuck man, how to get people to loan and not cancel every 5 minutes?

>>2040862
Not worth it. Use the free open source version on Github.

>>2040796
Wow dude your maths is shit.

Even an retard can simply look at 2 data points; 10,000... 0.45 per DAY.... hurr durr.... one multiplication later you have $45 a fucking day which LITERALLY 20% below minimum wage workers, and this earns you interest on the weekend too.

These low rates won't last forever though.

When they inevitably drop to 0.025% region, which is a market beating but average 9% ish per annum interest rate..... then I'll simply store in a wallet.

Not worth losing in a hack for pennies.

>>2040938
yeah, it requires me to run a machine 24/7 or invest in a raspberry pi for example tho, correct?

>>2040927

Yeah but how much are you loaning?

I'm considering selling off shitcoins to loan BTC, this looks very profitable.

>>2040796
https://en.wikipedia.org/wiki/Compound_interest

>>2040511
You know they can close their position whenever they want, right?
But yeah, interests right now are straight up insane, STR is doing as much as 2% daily (I saw it go at 60k+% APR after compounding), of course all of this lends can be liquidated within hours
Polo BTC isn't far off, right now I'm at 360% APR after compounding
But it seems there's a lot of retards around, I have two guys doing 0.5% for at least a day now, poor senpaitachi, the average usually is 0.08%
>>2040742
Autorenew won't change your rate, within the last 24 hours the rate has changed between 0.1% and 1.4%
>>2040827
Some exchanges do margin lending for other coins, some do for fiat, like JPY
>>2040878
You run one on your own computer, the other one runs in their computers

I guess the biggest thing we are risking here is Poloniex exit scam or being "hacked".

That is why I will refrain from investing all of my BTC in this.

>>2040960
Polo got hacked in 2014, they lost 12.5% of their consumers coins, they paid back in full and not through a scam scheme like Bitfinex
But yeah, that's the biggest risk

>>2039951
How do you set a minimum loan amount?

>>2039951
I set it up and have the bot active why do I have no open loan offers, does it take time?

>>2041007
You need coin in your lending account.
Transfer from exchange to lending in your polo account.
Balance>transfer

I only got in some loans at 0.5%

Should I but more bitcoin to loan it at higher rates?

or should I just wait for bitcoin to dip and buy in then. (when lending rates will probably be down)

>>2040563
How does lending bitcoin make staking tons of POS coins useless you dumb ass?

>>2039924
What happens if they all default?

>>2041263
Lending yields more than POS coins

>>2039924
Lending some STR while its hot. Works out.

>>2041472
the rate is at 1-2% thats ridiculous

>>2041515
That means many are shorting now
Same for DOGE

>>2039924
>brag about lending rates
>now hundreds more people will start lending and rates will go down

you're not very smart are you

>>2041526
>tfw my doge wallet is still synchronising
>tfw it'll be all over before I can sell my doge

>>2039924
Redpill me on pajeets

>>2041533

id rather go long like a degenerate desu but at these rates, im happy playing the jew

>>2041534
Yeah, hurry, DOGE lending was at 2% an hour ago already
Maybe sell it through ShapeShift. It's absolutely the fastest way. The effective rate are only about 0.5% below market
http://shapeshift.io/

>>2041538
Or someone else redpill me on pajeets and cryptocurrency what's the releationship between em?

>>2039924
What config setting are you using?

>>2039924
We need to establish a cartel What rates for time periods. I have been doing.
7 @ .28
30 @ .3333
60 @ .45

My question is what should the minimum be?

>>2041749
7, 30, 60 btc?

>>2041749

I work at a large bank and help set loan interest rates (asset pricing).

I could come up with an FTP (funds transfer pricing) methodology for this if we all wanted to do it.

>>2041763
7, 30, 60 days.

>>2039924
Are you sure those are daily percentages?

>>2041872
Yes anon the percentages are daily values. There is nothing hidden here besides the 10% fee on the profit from the loan.

The only issue with this overall is if you are a nocoiner (like me) and trying to figure out when to buy more BTC and from where to expand my portfolio. Coinbase fees are fucko

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>>2041872
yes

>>2039924

I really have no idea why anyone would borrow or lend btc

I follow Ben Franklin's advice: Neither a borrower nor a lender be

Not a judgement, I just don't get it how it works.

How are you covered if they don't pay up? Are people really lining up to borrow? Where are they getting the returns to pay back the loan?

>>2041942
it's almost risk free as you have to put in collateral as a borrower to insure you can pay back the lender. read this page if you want to better understand it

https://poloniex.com/support/aboutMarginTrading/

>>2041942
Its just crowdfunding margin, polo makes users who are trading on margin have a certain amount of BTC in a separate non-withdraw-able wallet that polo will give to the loaner if the margin trade defaults. Otherwise the loanee is free to trade with the coins and can close the loan at any time AFAIK

>>2039926

It's true, not even Muslims do it to their own people. What have we become

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what i don't get is why in pic related the lowest offer rate isn't instantly matched with the highest demanding rate.

i assume someone offering 0.1x% would be more than fine with 0.7x% aswell

>>2041966
It's actually a fair service we are providing to those who want to trade with higher risk/reward. We are also risking our BTC to a polo hack so others can trade with less risk of losing all their BTC to a hack.

how long have these rates been going on for btw?

>>2041558
I got it over

Should I sell the doge or should I lend it?

What would KeK do

How long did it take you guys for the lending bot to finish activating? Mine's been stuck on the "Activating" status for about an hourm starting to think something may be wrong

>>2042053
My BTC lending doesn't automate either. Only STR and LTC though...

>>2041948
>risk free
Keeping your cryptos in an exchange is never even near "almost risk free".

It's almost 100% certain that Polo will get hacked at some point in the future, be it within a year, two years or 5 years, but if you will be lending at that moment don't cry once they decide not to refund your losses.

>>2042066
these current rates probably won't last as long though, willing to take that risk, lending at 0.02% daily isn't worth it

Lending rates are at 1% now. Damn!

>>2039924
Why not just margin trade?
That's what I do on kraken, just too bad max leverage is 5x. Imagine if 250x

>>2042095
Because with margin trading comes risk durrrrrrr

>>2041749
But whats the collateral?

how aren't they going to cancel in 60 days?

I just dont want to spend 10's of days with the coin locked for nothing

>>2042037
When lending rates are high on alts they usually go down

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>>2039924
Lending on Polo ain't risk free. You don't have control over what is being bought with your loan. I got burned once, when CLAM took rapid dive. Autol-liquidation order couldn't been filled.
Also, Polo takes 15% commission fee.

>>2040560
No. Interest rates go up and down. When it's calm, they're only at 0.01% or less.

>>2040949
Yes

Fuck now I'm worried.

If my funds are locked for 60 days. That means I can be cleaned by BTC taking a dump and my BTC being worthless.

Fml.

>>2042369
2day max.
You want that interest compounding. It doesn't compound while the loan is active (as far I know).
It's better to get a dozen 2hr-12hr loans than one 60day loan.
>loan ends
>gain interest
>use interest collected in next loan
Unless you snag some ridiculous rate.

Can anyone confirm if compounding is active during a loans term?

>>2042369
There is essentially no reason to give a 60 day loan. The borrower can close at any time, so you are either giving them a better interest rate than the average or your loan will be closed. Additionally, locking up your cryptos for 60 days is a lot longer than people think--60 days ago, bitcoin was around 1k and ethereum was $15.

>>2042389
You're right, a polo loan only pays its interest upon completion

>>2042400
>>2042369

Bots do it automatically. I just rebooted my server n changed the bot to only loan max of 2 days.

For people who don't use a custom bot, but one of those online services, I'm not sure if they're able to customize that. If not, that's some scary shit.

>>2042459
Yeah, you can set 2day max.
But they just bankroll each loan.

>>2042389
The compounding effect is not that big though.
For example lending out 60 days for 0.1% per day yields 6%. If you renew the loan every 2 days it yields 6,177% so not such a big difference.
In my opinion it is more important to get good rates for 60 days and hope that borrower holds his position for as long as possible.

>>2042459
On 60 day term and 0.45% interest rate there is 4pp difference between compound interest and simple interest. Not much, but it is can make difference.

tfw I locked for 60 days. Despite profits, it feels better to have more control over your funds.

>>2041251
I already did that still not working senpai.

>>2042549
How much do you have? I think the minimum loan is 0.01

>>2040490
it doesn't. 0.45% won't last long. It's a short term thing

how much btc should i have to lend out? i currently have none and need to know how much to convert

>>2040653
Wrong. Part of my loan was defaulted due to sharp dive and not enough buy orders to auto liquidate.
Thing is, you my not even notice that one small loan was liquidated at lower rate than it should.

>>2042554
Oh will transfer more rn then thanks man. Should I worry about my bot credits?

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>>2042560
scooping up as much as i can in the meantime

Daily reminder if you lend your bitcoin and it crashes. The people who have loaned your bitcoin from you are essentially shorting you and will reap the profits while you lose money.

>>2042594
Not really.
It depends on how much you're loaning. I threw 0.001 at the bot, and that's going to keep it happy for a while until I stock up my balance.

I don't know how long the free period lasts. Maybe just keep it empty and give it the credits when it asks for them.

>>2042389
> 2hr-12hr
No such thing. 2 days is a minimum

> Can anyone confirm if compounding is active during a loans term?
It's not.

>>2042677
Alright Godspeed mate I am off to work. Thanks a ton

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I dont know guy, who would risk 10 BTC on an exchange for just a 1k pay out?

>>2042687
Most loans last only a few minutes.

>>2042650

https://github.com/navegacion/Fabulous-Poloniex

If you're interested.

>>2042709
Good point. It is risk, but those who don't risk, don't win.

>>2040653
You think margin calls work perfectly? People lose money all the time.

fugggg
There are only 500 BTC outstanding at the moment.

OYOYOYOYOYOYOYOYOY

I just put up a small amount at .7250% and it was immediately accepted... what's the catch?

>>2043051
that these rates will die down when crypto is going flat again, until then we'll probably have these rates

>>2043058
Yeah, but knowing that crypto market moves in cycles it is probably not a bad idea just to have it run on auto pilot.

>>2043058
>when crypto is going flat again
When will that happen? Would it mean that the coin game is over?

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One can dream....

I just did 0.9% and it got accepted immediately ,sweet,i remember when it was like 0.2 it wasn't worth doing.

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>>2043051

>borrow low
>lend higher

free money

>>2042709

So.......... I'm confused.

In the real world the borrower will suffer heavy consequences for failing to pay back a loan, and the issuer will seek recompense.

What is the consequence for failing to pay a debt on this service - would you simply lose money and the person you lent to simply abandons his account with a negative balance?

There's risk, but this is somthing else altogether. Anyone understands it better?

People are getting insane right now on poloniex.
Bubble pop in 15 minutes.

>>2043392
What do you mean?

Btw, the interest rates are extremely lower on every other crypto. So the best thing to do is loan BTC right? I hope these interest rates last.......... i guess not.

Holy fuck. I at 3700 the moment the server crashed. CUT MY LIFE TO PIECES

>>2043524
THERE IS A GOD MY TRADE DIDNT GO THROUGH!!!

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>>2043524
>>2043538
I don't understand, what happend? I followed this thread awhile just to see

>>2043538
>>2043524
Nice anon. Noice.

Anyway...WHEN TO SHORT GODDAMNIT?

>>2043593
Holy shit I was one of the first ones to get back on and bought it at 2400.... I sold it 15 seconds later at 3000 got the confirmation it went through, then crashed again 5 seconds later. Today has been amazing.

>>2043592
I placed an order to buy at 3700 the second it crashed. I would've lost half my money if God wasn't watching over my shitcoining ass.

>>2043612
>>2043624
Noice. BUT WHEN TO SHORT?!

>>2043656
Can you get in Polo right now? I can't. Honestly it's anyones guess at this point. This crash is probably going to fuck with everyones confidence in Polo. People lost millions when it crashed.

Is there any advantages to setting up a 60 day loan period?

>>2043685
Yep, I am in Polo right now just transfered BTC to my margin account to short STR when I see a good signal...
the fucking volatility is extremely off putting though, moves with 15% in a fucking sec

>>2043685
>>2043738
Servers down again for the Xth time cannot get in now as well

>>2043713
You can lock in your interest percentage for 60 days if it's high. That's really good. Lock it in and the interest might never go up that high again.

But then you are completely unable to sell for 60 days. No option to sell at all. So there's extreme risk there.

>>2043316
I suppose he gets margin called by polo before it could lose too much to be unable to pay back

>>2043738
>>2043745
I would NOT try to short right now. Look at the XRP crash at 7000 from back in April. It didnt regain value until this week. I mean it's up to you but you're taking a huge ass risk.

>>2043782
No, I know, thanks for the info though. I am potentially gonna short when a double top arrives, not right now.

>>2042084
I lend some at 2%
Just how much are the margin traders making? Or how much is Pajeet burning?
>>2042489
I have never seen a loan close in 60 days, pretty much all of them close within hours, and sometimes within days at most

>>2041779
Doitfgt

>>2039969
Atleast he doesn't have to worry about some shitcoin crashing, it's a fool-proof strategy

I've been getting solid 1%-2% rates for STR lendings for the past few hours. Is that good?

>>2040511
Look at the charts of XRP and XLM and many others

How is it ensured that a loan is payed back?

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Yew

>>2046566
There is no assurance. You just gotta hope the auto-liquidation mechanism is quick enough before the borrower loses all his money (+tips).

>>2046387
That means a lot of people are shorting. A shit ton of people. That means a crash is highly, highly expected. And they're right.

>>2046643
Does the liquidation prevention mean that users can't take loans on a zero account balance?

>>2046698
Yeah, 10x leverage on 0 is 0

>>2046756
Right.
So a user's margin would be slightly higher than their initial position?
If he's got 1BTC and borrows 10BTC, it would try to close out at a 0.6BTC loss to be able to pay out the leverage?

>>2046776
slightly lower*

>>2046634
Does the lending bot splits your lendings? Mine has been the same one lending only.