Bitcoin Forum

POSToken devs announced that their token will be available for lending, starting at 15th of December!

https://bitcointalk.org/index.php?topic=2110712.0

Isn't this great news?!

Nearly all competitors in the last weeks (Regal, Hextra, Western, Ethlend...) skyrocketed in price. Regal is at 47$, Hextra at 32$ ... where will POS Token go? Right now it's still available very cheap, for under 1$ on etherdelta. I think it's a great opportunity to buy.

What are your opinions? I'm going to fill my bags  ;D

POS Token is a good investment IMO, POS are trending for the moment, a lot of people are sick of the electric waste for Proof Of Work system. I'm glad to be part of it and support those coins :)

What does this token do when it means lending? Are you suppose to buy the POS tokens and hold for certain period to get interest and how are the interest awarded?

For bounty hunters, Token affairs must be familiar because the search is a bounty hunter from ICO that gives token or coin prizes. Well, one nice token that has a very bright future is the Post Token.

You buy some tokens, at least worth 100$, and lock them on their platform. You will get up to 50% ROI (so about 50$ back every month).
The capital will be released after a period of time (i think 150 or 180 days). You will probably get back USD$ instead of POS though.
You will be able to convert your earned USD$ to BTC (ETH?) or POS.

There isn't much Information about their lending service so far, but that's how all the other lending coins work. A big plus is that with POS your capital will be released much earlier than with other coins like Bitconnect (280 days).

Don't compare it with bitconnect, it's a scam. PoS allow you to gain some % if you contribute to the network security.

Interesting.. How different is this token from salt. Yes salt doesn't have a platform yet. But there's plans to have it  released sometime mid Dec

Interest,but how it work?
If your coin falls in price, and the profit will not be 50%.
What will you do then? After all, everyone will sell their tokens every month, 3days. The price of the token is unlikely to rise.
Since the demand will be less than the supply in thousands of times

First of all, the price of the token has nothing to do with the interest you will gain. If you lend them, they are locked, you won't get them back.
An example:

You buy 100 Tokens @ 1$ today.
You lend all of them - so your Investment is 100$.
Now you get daily interest, UP TO 50% per month - so you will get back 50$ each month. $, not the token!!
After 150 days (5 months = 250$ interest till then) you will get your 100$ back and end up with 350% in your wallet, which will be able to Exchange for new tokens or probably ETH/BTC.

who will need to borrow the POStoken with such high interest, for what purposes? Or the devs hopes that with big amount of locked tokens their price will go to the moon?

I don't see how lending will work at all without KYC, if there is KYC then these high rates will not apply (unless it is a scam!)

If I understoof this PoS correctly, I don't think it's a good idea. PoS are good if you collect fees from network , just generate ex nihilo coin it's called inflation but just whales wich earn it. How can it be good that way ?

I don't think this team think things through before jumping on this lending thing, it is as if all projects want to be lending platform at those ridiculous lending rate, to me it is not sustainable long term

There is no borrower needed. IF their lending will work like every other lending coin, they will use the lended (locked / STAKED) coins to run their trading bot and gain the profits with it. Just research Bitconnect, Regalcoin or Hextracoin for more Information.

So maybe just don't call it lending, it's more like staking but you don't get tokens back, only USD$.

If we see how other similar coins grew in the past, it's definetely worth a look.

Good question, I also wanted to know what is lending?

Always remind you NEM airdrop. Now look at their value. It's a ICO but coins are freely airdropped and you can sell for few bucks. But once every body sold, the price skyrocket because big whales bought bags of it.