It happened as people were pulling all their BTC off Poloniex because they didn't state that they were going to support BCH....so I think their was a shortage of people willing to loan BTC, and then people probably hiked loan rates, and then Poloniex auto renewed loans....people exploited this hard....

I'll lose like $800 if I completely close the position where it stand at the moment. I have enough equity in the margin account to open new positions, but I don't understand why reducing the position by 50% didn't reduce the balance on any of the loans whatsoever.

I have tried reducing my positions by 50% to close most of the borrowed amount, but it has not closed out anything off of the loans that are sitting at between 3-5% daily interest rate.

So...I just found out today that the loans that renewed on my Poloniex margin position on July 30th-31st have been set at a 5% daily interest rate and a 60 day duration.

I tried to reduce my positions so that these absolute absurdity of loans would be cancelled and I wouldn't be stuck paying a 5% daily interest rate, but the loans will not close out as I reduce my position. I have attempted to open new positions and receive new loans at the 0.01% rates that are currently offered, as someone else said that it would cancel my highest interest loans....but nothing I am trying is working.

I have heard of others being affected by this being trapped into these 5% interest daily loans.... such as at this link here that are currently losing very large sums of money. Others have been trapped in loans like these without even holding an active position anymore.  https://www.reddit.com/r/BitcoinMarkets/comments/6rbqgi/losing_132_btc_a_day_in_borrowing_fees_on_a/

I am literally at a loss for words. I knew that I was going to be taking on additional risk by taking leveraged positions, but I did not expect that I would be scammed on the loans themselves. I set a maximum loan rate of 0.5% when I opened these positions and had been sitting on them for a little while.

Poloniex is a scam exchange, I opened a ticket but expect that I will not hear back. Anyone have any idea on what I can do....or am I literally forced to watch my margin account be stolen daily?

I think its good to look at overall trend, and also examine why the coin is crashing....are the fundamentals of the coin strong....is it pumped&dumped, etc...I have been the victim of some pump of dumps, and learned my lesson....but there is good sales on coins to be had at the current moment.

I think that that BCH is a bad buy at the moment....the network is barely even producing blocks meaning that there is zero liquidity to the network at the moment....the only coins on the exchanges were the people who had BTC on those exchanges and received BCH....as soon as any mining power goes to BCH and difficulty goes down...lots of liquidity will come back and tons of supply will be dumped.

Buy in a month.

I think it is possible, but there is a lot of risk involved, more so than stocks. But there's a lot more potential. You'd probably need like $100k to start at least, and be prepared to lose.

Looks interesting, might check back on this one.

I've been mining this coin, and am acquiring. Lots of work being done with this coin, and the Dev is awesome :3

How soon until the mining specific cards come out for AMD and Nvidia?