WAIT.... is this for real

poloniexlendingbot.com/

According to this site the effective APY for lending on poloniex is 106.222% Let's not even mention the ridiculous doge coin rate... I have 50 bitcoins sitting in a hardware wallet and about 10 I'm actively trading with. Does this mean if I lent out those 50 bitcoins by the end of the year I'd more than double my bitcoins to 103.11 and then if I reinvested those bitcoins the next year they would double again to 212.64, and so on, after 5 years I'd have 1,864 motherfucking bitcoins. And by then they'll probably be worth $200,000 each and I'd literally be a bajillionaire.... what's the catch?

Other urls found in this thread:

github.com/BitBotFactory/poloniexlendingbot
twitter.com/NSFWRedditVideo

they arent affiliated with poloniex so u could get niggered

If I manually did the loans on poloniex would the APY be that high?

the good rates are only available during hot periods like now, but in general you get good returns

Well it certainly beats the fuck out of my 1% APY savings account. Anyone have experience with this?

bump. If this is legit FORGET day trading this is the guaranteed way to become a millionaire.

The APY only means shit if people actually hold the loan for a year. What you should really care about are how long loans are actually held, when the interest is calculated/compounded (if it is at all), and how the interest rates fluctuate over time.

They're mostly 2 day loans, the site just says their bot automates the loans and extrapolates an APY from that.

Anyone who isnt shit for brains is using the completely open-source, compact, therefore personal audit-able, lending bot.

github.com/BitBotFactory/poloniexlendingbot

I have 1.5 BTC in it and it already makes more money than a R9 390 miner and its sitting on a fucking raspberry pi.

That's fucking incredible. Should I do it with my 50 bitcoins? How risky is it?

How much do you trust Poloniex?

That is your answer.

Thats almost 4 grand.

You Could build an entire rig of 480s for 4 grand, which would probably make way more for you.

Or just buy 2 miners for that much, would also probably make way more cash.

ELI5

The thing with lending rates is they change drastically depending on altcoin volatility. Average APY is usually about 30% and yes manual lend because you already pay 15% lending fees to polo.

Your best bet is to wait until rates get to .3% or higher and then set the loan for like 10 days.

Although there is an advantage to shorter loans because then you can compound the interest you make.

There are people who cannot have or want a mining rig.

Having a look at this bot.
Thanks friendly user.

Anything else there is to know that is not instant obvious?

they're mostly loans for whatever length the dude that borrowed them is margin trading for

how do i make that on a raspberry pi ? do you use poloniex only ?

While you can lend out many coins, there are not too many that even amount to something like 1% APR.

For the two months I am lending I never ever had XMR being lend out.

You need some Linux Skills to work it out, I am too lazy to make a step to step guide desu.

first i dont believe in poloniex. But paying for the lendingbot must sucks

The catch is that you are fully giving up ownership of the coins to polo. When Kraken got DDOS'd a week ago one guy was lending 2000 ETH and lost it all in one day to the hack. Most people don't want to take that risk because the guys who run polo are shady to say the least, with bad support and a tendency to delay markets so they can stock up at low prices before a pump

>500+% APR

The catch is, everyone on biz , not to mention millions of others worldwide, are apparently racking up unbelievable gains at this moment. And soon, when millions of ppl start trying to "cash out" all of their millions of dollars in virtual currency, and these sites like coinbase don't have enough money to pay people out, everything will collapse, everyone here on biz will lose their life savings , and become homeless, there will be mass suicides, and all of these CEO 's will go to jail for fraud

You get good returns but don't expect to get something crazy like 2% a day every day. When dogecoin cools down and people close their margin positions you'll see it come down.

>not enough money to pay people out

This has to be bait right? Nobody is this retarded, right?

The rate is usually a lot lower on less bullish days. Still beats a savings account BUT you have to entrust Polo with your BTC

>You get good returns but don't expect to get something crazy like 2% a day every day. When dogecoin cools down and people close their margin positions you'll see it come down.
>The rate is usually a lot lower on less bullish days.
These. Expect 20% APR on average and factor in possible declines of the coin itself.
I would never hold a significant chunk of my money in something like DOGE....

holy kek

The mental gymnastics nocoiners go through to cope with their bad decisions are impressive.

>I would never hold a significant chunk of my money in something like DOGE....

Yeah I was more asking about BTC but kek.... I just looked at the lending rate again and it's 3678.343%

>I would never hold a significant chunk of my money in something like DOGE....
I would put a hell lot of money into DOGE when it's not at its high. This coin proved to be exceptionally stable, much more than most "professional" coins.

>I just looked at the lending rate again and it's 3678.343%
That's the price for holding DOGE during a bubble
Once you lend, you can't sell your DOGE for at least 2 days.

You only get one of these images you fagits. Only the elite see these.

What am I even looking at?

Daily BTC interest rates on Poloniex. This is the chart which should be on the loaning tab but isn't.

and how exactly do I capitalize on this information? be very thorough and detailed please

1) Print it out
2) Grind up some weed
3) Roll paper graph around ground weed
...
5) Rectally insert lit roll.

FINALLY some real advice around here, good on you user

...

You can see how likely it is your loan offer will be filled at a given interest rate.

Y'all only get one of these too. Kthxbye.

The APY for litecoin is like 2% now. This shitty fucking coin never fails to disappoint.

Then we'd have to make due with the bags and the vast adoption.

Doge (usually) stable and transactions are super fast.

It's actually one of the best altcoins objectively.

I have used the poloniex lending bot with great success over the past month. I only loan BTC as these loans are for people who want to short or gain leveraged exposure to the underlying asset market.

I wouldn't loan anything except for BTC and/or ETH. For example STEEM was giving out crazy returns a month ago but if you had locked your holdings into a loan for 60 days an the price tanked you would be fucked. I think the risk is much higher for altcoins. If BTC goes down then probably crypto as a whole has failed (at this point in time) but I would bet that the likelihood of BTC disappearing is extremely low. If your altcoins are locked in a 60 day loan and are crashing to zero you're boned and cannot sell out. You will be left with sweet fuck all once the loans have expired.

Yeah, handing out access to a bot sounds like shit.

If there's even a 1% chance of this going under, not worth it at all.

>he thinks this sites have actual dollaroos stored up

I bet you think banks and the fed have piles of gold in every vault too?