POLONIEX LENDING: OVERNIGHT LONGS EDITION

ITS THE WEEKEND AND THESE PAJEETS STILL SLEEP WITH THEIR POSITIONS OPEN AT 0.45% PER DAY HOW THICK CAN YOU GET HAHAHAHA

Other urls found in this thread:

github.com/Mikadily/poloniexlendingbot
poloniexlendingbot.com/
en.wikipedia.org/wiki/Compound_interest
shapeshift.io/
poloniex.com/support/aboutMarginTrading/
twitter.com/SFWRedditImages

Usury is a mortal sin

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

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.

You get .45% I get 12% off the funds. Thanks user.

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

are you poloniexlendingbot?

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%

I trade on margin on polo

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.

Someone tell me how this works?

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

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?

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

What lending rates do you recommend m8?

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

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?

This would earn you 1.5 BTC minus fees over 2 months

It's not worth having your funds locked up

Yes

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

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?

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

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

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

>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 .
github.com/Mikadily/poloniexlendingbot

You can configure a minimum rate and various other options.

this the same as
poloniexlendingbot.com/

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.

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?

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?

You can also lend ETH

ETH lending is sad, very low rates

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.

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?

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?

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.

>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%

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?

Dang, my mistake. You are right.

That is a pretty good deal.

So that lending bot is safe for sure?

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

>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.

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

sounds like scam

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

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

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.

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

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

>github.com/Mikadily/poloniexlendingbot

and

>poloniexlendingbot.com

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

oy vey

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

Get the source from github like that guy 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.

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

>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)

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

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

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

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

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?

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

kek

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

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

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.

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

Yeah but how much are you loaning?

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

en.wikipedia.org/wiki/Compound_interest

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%
Autorenew won't change your rate, within the last 24 hours the rate has changed between 0.1% and 1.4%
Some exchanges do margin lending for other coins, some do for fiat, like JPY
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.

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

How do you set a minimum loan amount?

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

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)

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

What happens if they all default?

Lending yields more than POS coins

Lending some STR while its hot. Works out.

the rate is at 1-2% thats ridiculous

That means many are shorting now
Same for DOGE

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

you're not very smart are you

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

Redpill me on pajeets

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

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
shapeshift.io/

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

What config setting are you using?

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?

7, 30, 60 btc?

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.

7, 30, 60 days.

Are you sure those are daily percentages?

Yes user 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

yes

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?

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

poloniex.com/support/aboutMarginTrading/