Topic: Windows Desktop Bitcoin Lending Bot for Poloniex - page 4. (Read 15280 times)

Polo isn't going to give you the split or other side. They will just give you what is in your account, on the bitcoin fork that they end up using.

And with Poloniex? What happens? 

I know it's a noob question but... brobbel has mentioned he would stop lending by the end of the month to prepare for such a case. I hadn't thought it was THAT serious..!

The minimum amount that poloniex will accept is 0.01.

I like this bot and I've run it with a very small amount and i never got a bite.  So so is there a minimum funds I have to have in my account?

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and poloniex rates continue lower

I suspect that Bitfinex is going to have higher rates for a while yet. I've always wondered why Polo doesn't allow bitcoin shorts like Bitfinex does. Given the size of the market if Bitcoin could be loaned out for longing alts AND shorting bitcoin I'd think the rates would be phenomenal.

Never thought I'd be saying it, but lending rates are double on Bitfinex. And they give you both coins back in the event of a hard fork...

Burst burst... I also have a bunch of other alts, most of them are bursting too, but I'd rather hold onto them than dump. I got them lower than it is bursting now, so no problem for me. And, of course, lending rates already burst.

I liked the interface and "pay yourself" system! Nice and thank you!

I'm pretty sure those bubbles you called are bursting...

The market as a whole is somewhat down. Take eth for example. It's gone from 0.15 in the last month or so to 0.09 as of this morning, with a volume under 10k. It's the first time I've seen that low a volume on eth for months (It was barely under and may be over that again by now.)

Long story short if supply is high and demand is low the rates go down. In this instance, just based on a quick view of coins on Polo that allow margin trading, it looks to me like demand is very low. With the exception of LTC, which has raised a few points, the rest of the coins on there are red - and have been moving down slowly for the last couple of weeks.

Again, with ETH as an example, I would think that anyone that opened an eth position at 0.1 or higher would have closed that position by now, or at least be thinking about it, returning loads of funds back to the offer book.

I wholeheartedly agree with brobbel in terms speculation on bitcoin. When people are concerned with bitcoin the prices of other alts rise. That rise drives margin trading and ultimately loan rates. Right now it looks like the first part of the NY Agreement is going to happen - we'll likely have segwit turned on -  avoiding a possible UASF split. As that likelihood increases bitcoin looks more attractive, people sell out of alts to get it, and alt prices drop. When the prices drop on alts no one longs them and the BTC lending rates go down while they drop. Ultimately when they appear to bottom traders will start borrowing again to long them and the rates start moving back up.

I'm betting that rates will stay fairly low until part two of NYA hits. The block size increase is going to be a lot more contentious and will likely drive up rates.

I know last time there was a big whale ( 5000 BTC or something about that ) incoming for lending. And the more competition....
For this time I don't know.

And there isn't much speculation with bitcoin - if that's changes, rates changes too.

and this 50% haircut is after rates ALREADY had a 50% haircut from rates 3 weeks ago.

someone here has to HAVE AN EXPLANATION for this

rates(should not) drop like this for no reason

risk/reward ratio

that is if you are not a long-term holder anyways

The rates are even more volatile as bitcoin price itself.

But why isn't this a good investment proposition? It still is better then most alternatives!

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

Unfortunately, no. It is impossible. Once you set the loan terms, they cannot be changed. The lender may, however, repay the loan at any time.

Think of it like a mortgage. The bank can't cancel your mortgage and take your house if interest rates go up just because they want to make more money.

If your loans are smaller than you'd like, I'd suggest manually overriding. However, your coins will sit on the order book for much longer.

Is it possible to close the current loan if there is a higher rate, if yes how?

I have been assured via PM that it is now working and have sent replacements credits to the specified address.

It's not connecting to Poloniex. This could be one of the following:

API Key or Secret Are entered wrong
Save not clicked after entering API and Secret
You are reusing an API key. If so create a new one.
Your API is limited to an IP address that's not where the bot is connecting from

There's nothing I can do from this end to help. One of these is the issue but there's nothing I can do to correct it. You will know it's correct when it shows your lending balance.