time for a different thread.
anyone else manage to snag some crazy interest rates with loans that haven't been closed yet?
of course i have just jinxed it by posting this.
had about 10 btc loaned out at 5% per day, most made it close to 1 day, these are still out after 2.
wonder how long they'll last.
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>those fees
wtf
Wat, you can lend BTC? Where, how ??
People borrowing them use it to short BTC then return the loan at a lower price. Goldman & Sachs are doing this. You're giving them free money
poloniex. rates usually between 0.01-0.1% per day, but the loan book was empty for the split, and people were borrowing at 5% (the max). combined with a short squeeze on margin coins, you get people forced to hold losses at 5% a day until they close or cover the position.
you can't short BTC on polo. plus i don't care about $, just accumulating more btc at this point.
Jew
You can lend BTC to other people or you are taking loans from poloniex? Sorry I'm confused
margin traders going long need extra btc to trade with leverage. they do so by borrowing btc from the loan book. polo has its own lending market, you set the interest rate and the term, but you are competing against others doing the same. interest rates are currently very low, only 0.016% per day, but during the split, the offer book was totally empty, and people were taking btc loans at 5% per day.
when you go long on margin, you borrow btc and pay interest fees.
i am collecting that interest at a high rate on a sliver of my loans that haven't been closed out yet. my maximum term that i set is for 60 days. best case scenario is 5% per day for 60 days (not gonna happen, but fun to ride it out to see).
basically people with a shit ton of btc can earn more by lending instead of trading.
Thanks user. This thread is pure gold
Now after the fork the lending rates are quite shity
I got only 0.0312%
How does this work? Can people not pay back?
rates are so low right now (way lower than even just before the fork) that I am wondering if whales are encouraging margin longs to fill their shorts before crashing alts again.
Yes but you can sue them
positions are liquidated automatically by polo before default can occur.
you will never not get paid back, unless of course the exchange collapses.
you are also exposed to the price of btc during the loan, since you do not have access to your coins until the borrower returns them or the term expires.
if you don't care about the $ price of btc and just want more btc, lending can be fun while interest rates are high.
Sounds high risk, high hassle and low reward
Doesn't sound too bad.
Are there any other good reputable sites that are known for BTC lending?
I don't really trust poloniex.
How can i demand a loan?
I only see an option to offer my coins for loan
What i said was bullshit,
There is no courts or hassle involved and Polo always forces them to pay you back.
I am sorry I lied to you, it was because i didn't want more people from biz to go there and start offerring loans cause they would compete against my own loan offers.
I accept your apology friendo.
when you open a margin position you automatically borrow
there are risks and the taxes are not that great. to maximize gains you need robots.
4.9% rates every 2 months
WAT WAT WHAT PUM-PUMPKIN WHAT?
Currently bagholding BCC. I fell for this Chinese piece of garbage.
What should I do Veeky Forums?
What? Why did you buy more? kek you were supposed to sell and forget about it retard
no fool, 5% per day, for two months. those are daily interest rates
You'll make more by trading now. This thread is like 2 days late now.
>tfw the smartest people loaded up on BTC and lent it out
>tfw not smart
holy shit, if you could get 5% per day and compound it you could have literally 1000 btc in a year
literally?!
tfw I'm suddenly a polo jew...
Fuck off with your usury, you dirty goddamn jew.
Ok guys, i'm gonna share it with you:
bitbond.com
it's a scam
Don't even have to look to know this is another HYIP.
There's literally hundreds of sites out there that do this. Hundreds. Look up HYIP bitcoin monitors and go crazy.
bitbond seems very interesting, but how can this be secured ? i don't trust on poloniex, how can i trust bitbond ? But i really loved the idea
ponzi scheme you filthy pajeet
sage.
that sucks, but its a nice idea if both sides can benefit, right ?
maybe some coin making descentralized bitbond look a like.
yes gots transfer your btc to polo at during these turbulent times.
hey fag, are you trying to flood lending with more coins? keep this shit to yourself its like you want low rates jesus
window on crazy interest rates already shut 2 days ago, shit for brains
If the guy im lending to holds it for all 60 days I make more than 300% roi
>Can people not pay back?
it is impossible to lose money from lending on Polo. The person who borrowed the funds will have a margin call and get their position liquidated long before there is any risk of you losing your money
I'm too dumb to margin trade
It's mostly poojeets, most shitcoins on Polo don't have enough volume for institutional investors
Bitfinex but they have shit rates compared to Polo and they aren't reputable either
faggots
no one is getting 5% rates. you get 0.1% if lucky
you will be making 2 dollars a day PER bitcoin. so good luck with that
It's actually possible if the exchange can't liquidate their positions due to issues with low volume or their shit trading engine lagging like hell
However that's rare and usually only happens with shitcoins like CLAMS
I actually never heard of anyone losing their BTC on margin lends, I have heard people lose their CLAMS though