lending on poloniex and bitfinex | Bitcointalksearch.org

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: gentlemand on April 06, 2017, 07:02:24 PM

Quote from: ranlo on April 06, 2017, 06:55:46 PM

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.

Absolutely. It was handled with class but who knows what's around the corner? I presume they make enough in fees to cover a lot of eventualities but not all of them.

Good question. But the takeaway of this, at least to me, is that they took the right path. Where most crumble and run off and go into hiding, they decided they would do the right thing, one way or another. I have a lot of respect for that.

pinkflower

sr. member

Activity: 868

Merit: 259

The guy above me in my previous post seemed like he didnt know. I meant that not as an accusation to Poloniex but as a fact that the Verning did happen and it could happen again whatever the exchange is.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: pinkflower on April 08, 2017, 12:33:43 AM

I dont think you get or know what the big Verning is. I suggest you read up on the Cryptsy exchange scandal and see what happened there. To give a hint, its where the owner of the exchange himslef who tries to steal from its own users.

Everyone knows who Big Vern is.

The issue is, why do you think Poloniex is like Cryptsy? Where is your proof?

pinkflower

sr. member

Activity: 868

Merit: 259

I dont think you get or know what the big Verning is. I suggest you read up on the Cryptsy exchange scandal and see what happened there. To give a hint, its where the owner of the exchange himslef who tries to steal from its own users.

Yuuto

hero member

Activity: 644

Merit: 501

Quote from: pinkflower on April 07, 2017, 08:28:28 AM

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

Or better. They could do the big Verning and run away with all the BTC and other coins. Its so easy to get away with it since altcoin exchanges arent regulated.

You might be right in some cases, but I would like you to note that there is something like coinfirm.com and moreover, the bitcoins are traceable, you can check if they are being moved somewhere, or if they are just calmly waiting for the turn to dump.
I would also say that almost every time Bitcoin exchanges ( altcoin exchanges too ) hold most of their funds on offline wallets, so to get there, you need an exploit or sensitive data given from the inside.
There is also another possibility, as you already said: poloniex can just move bitcoins and run with them. But saying something like that implies that they won't have any troubles for doing that, and I cannot believe people are saying that every bitcoin exchange will run away with money sooner or later.

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

Or better. They could do the big Verning and run away with all the BTC and other coins. Its so easy to get away with it since altcoin exchanges arent regulated.

Atij

member

Activity: 91

Merit: 10

Quote from: marketone on April 07, 2017, 06:53:45 AM

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

I don't understand what you are saying because already Poloniex has been hacked, but at last, they recovered the losses and paid to all the members. Already they are providing lot of security measure to their members but what my concern is whether lending money is working fine with Poloniex or not.

give me link please

marketone

legendary

Activity: 1302

Merit: 1000

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

I don't understand what you are saying because already Poloniex has been hacked, but at last, they recovered the losses and paid to all the members. Already they are providing lot of security measure to their members but what my concern is whether lending money is working fine with Poloniex or not.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

They are being pretty careful about security though. Since the Cloudflare bug thing they've been manually approving large withdrawals, and there is a notice on their site asking people to enable 2FA.

If people are sensible and make sure that all their passwords are a) long and b) different on each site, plus enable 2FA they should be fine.

Quickseller

copper member

Activity: 2870

Merit: 2298

Quote from: Atij on April 06, 2017, 03:59:56 AM

Quickseller, also we can touch savings like Magnr.

I am pretty new, but i saw site where about 9 different Exhanges like Toro or BitMex. As i understand i can trade BTC there with higher shoulder. ( is that call fufures? ) Where all that guy taking BTC ti trade without lending?

Also Bitmarket Poland site. Do you know some thing about it? )

crazyivan, thank you. Security advises ever is good. About anti-key logger i even did not heard. Will search some info )

I am unsure of the legitimacy of Magnr, and cannot reasonably advise if it is some kind of scam or not. It looks like they are offering 1.28% APY on BTC deposits (per year), which is not much more than what you would expect to earn in a single month on bitfinex. For this reason alone, I would advise against depositing BTC there as you will almost certainly earn much less than alternatives, and will have less access to your funds.

I had never previously heard of Toro however I would advise against doing so. First of all, their website looks like little effort has been put into it. Secondarily, it looks like when you "invest" in this site, you are more investing in traders' actual positions (if they make money, you make money, if they lose money, you lose money), which is much riskier than giving a loan to fund traders' positions that gets repaid first when positions are closed.

BitMEx offers futures trading and AFAIK, no actual BTC is actually borrowed.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: ranlo on April 06, 2017, 06:55:46 PM

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.

Absolutely. It was handled with class but who knows what's around the corner? I presume they make enough in fees to cover a lot of eventualities but not all of them.

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: gentlemand on April 06, 2017, 12:57:05 PM

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

In their defense, they offered up repayment for all users affected through their coins. And just the other day announced that they are doing a full buyout of those coins. So they've done a good job at handling the situation -- far better than most.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Poloniex is one of the greatest prizes in hacking at present. Lord knows how much money is stored on there. I'm sure they're extremely careful but another hack is only a matter of time.

It's already happened and somehow it'll happen again. Considering the returns on offer there's no way I'd bother myself.

xypos

sr. member

Activity: 532

Merit: 250

Quote from: educated on April 04, 2017, 04:41:56 AM

Is lending worth the risk though? Never done it, but might be interested.

The thing is, that the risk you take for example on poloniex isnt as big as the risk you have on loaning btc here,in our home-btctalk.org.
That is why people use the principle "no collateral, no loan" because they are not going to risk their bitcoins just for a small return. They need something with value, to gain back the money loaned to them in case of scam.

I would treat poloniex more like a steady investment, where you can get some % of return from money invested pretty much without any risk, they just cover you up.

marketone

legendary

Activity: 1302

Merit: 1000

Quote from: ArdiPrabowo on April 05, 2017, 04:37:57 PM

Quote from: Atij on April 03, 2017, 08:47:01 PM

hello, why lending rate for BTC on poloniex 3x larger then on bitfinex?

lending in market poloniex or bitfinex about suply and demand
demand lending in poloniex is very high, if suply low so can incraese price about lending
is same case in bitfinex too

Yes, I know lending is possible through Poloniex and Bitfinex, but whether exchanges will provide any security for the lender. I am really in confusion state whether they will pay or not.

K128kevin2

sr. member

Activity: 322

Merit: 250

Quote from: crazyivan on April 06, 2017, 03:50:28 AM

Also, I suggest installing anti-key logger, PAID one, not some free or cracked shit.

Or you could replace your proprietary operating system with only free, libre and open source software Wink

That way the code can be publicly audited and proven that it's not going to send your Poloniex password or whatever pictures you keep of your girlfriend to scary Russian hackers.

Atij

member

Activity: 91

Merit: 10

Quickseller, also we can touch savings like Magnr.

I am pretty new, but i saw site where about 9 different Exhanges like Toro or BitMex. As i understand i can trade BTC there with higher shoulder. ( is that call fufures? ) Where all that guy taking BTC ti trade without lending?

Also Bitmarket Poland site. Do you know some thing about it? )

crazyivan, thank you. Security advises ever is good. About anti-key logger i even did not heard. Will search some info )

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

There is ALWAYS risk with Bitcoin online investing. There r s no such a think as risk free.

Make sure you protect your coins on whatever exchange or lending service you use, 2FA is a MUST HAVE, email confirmation also. Never use the same password twice and make sure its a long one. Also, I suggest installing anti-key logger, PAID one, not some free or cracked shit.

Quickseller

copper member

Activity: 2870

Merit: 2298

Quote from: Atij on April 05, 2017, 04:41:06 AM

Quote from: Quickseller on April 05, 2017, 01:11:38 AM

poloniex has stated that if you are lending BTC at the time of a fork that you will only receive pre-fork coins (BCC), while Bitfinex has announced that any BTC lenders will receive both BCC and BCU in the event of a BU hard fork.

You can have whatever opinion of BU that you want, however, lenders logically want to receive something of value in the event of a fork.

Thank you a lot. It was only one idea i had. But few days ago Bitfinex as i understand changed/update policy about BTC Hard Fork, and it`s did not affect to rates. then i decide to make this topic and was very surprised when saw that looks like nobody knows answer.

May be you know other places to lend Bitcoins on exchanges? ( no 2p2 lending like BitBond )

Unfortunately I do not.

There are some websites that accept deposits and pay interest on said deposits somewhere in the range of the mid single digits percent per year. It is my suspicion that these websites deposit the BTC they receive from depositors into exchanges, lend out the BTC and collect the difference in interest payments. I would suggest that you not use these websites because you would be facing the risk that these websites pulling an exit scam (or otherwise lose money in a way specific to their website), in addition to the risk that the exchanges that these websites deposit their/your BTC into end up getting hacked.

The Chinese exchanges used to allow for users to lend our their BTC (and CNY I believe), however this stopped when they were no longer able to offer margin trading, plus I have always viewed the Chinese exchanges to be shady.

I suspect that both Coinbase and Bitstamp will offer margin loans in the future, as both of these exchanges have either recently rolled out margin trading or have said they will offer margin trading in the future.

Atij

member

Activity: 91

Merit: 10

Quote from: ArdiPrabowo on April 05, 2017, 04:37:57 PM

Quote from: Atij on April 03, 2017, 08:47:01 PM

hello, why lending rate for BTC on poloniex 3x larger then on bitfinex?

lending in market poloniex or bitfinex about suply and demand
demand lending in poloniex is very high, if suply low so can incraese price about lending
is same case in bitfinex too

as i understand from above you are wrong

Topic: lending on poloniex and bitfinex (Read 2368 times)