If this is a Ponzi, then so is Localbitcoins. It's actually a very similar business model.

Yeah, I get the impression you haven't tried the site and are uninformed regarding how this business model works. However, if you were to spend an hour reading up on it, you would gain some insight into why it is possible to sell Bitcoin above spot price (hint: ebay, localbitcoins).

While everyone is entitled to an opinion, I usually wait until I have a little information before I comment. Up to that point, I generally ask questions - that way I can get to the point where I can form a coherent, informed opinion which I'm not embarrassed to share. But, again, that's just me....  

To be honest, the only real downside to this platform is the support response time, which is truly dismal. Do not start trading on this site and expect your issues to be dealt with in a timely manner, because it's unlikely that they will be. However, there is a decent user community who are generally willing to assist and advise newbies.

Edit 1: BTW, it is only possible to consistently get a 15% premium (which is the minimum) as a seller - the competition of rates means that, in reality, anything above 15% is not realistically achievable.
Edit 2: Sorry about the smart-ass tone, I just dislike unhelpful, uninformed and troll-ish comments.... must try to be more patient in future




You can use this promotional code when signing up to https://xcoins.io/?r=jbh184 to get reduced fees: jbh184

Hi,

Can anyone share their experiences of asset lending on this platform?

Specifically, I'm interested in what rates one can expect to realistically achieve while minimizing Bitcoin lending downtime...

Also, are any historical data regarding Bitcoin lending rates published anywhere?

Hmm. No offence, but it appears you don't really know what xCoins is. Or what a Ponzi scheme is.

I've asked many users that question myself. Usually they describe following exactly the same process (i.e. using the same email template response and providing the same package of evidence), but with completely different outcomes. I've heard of some people winning all their disputes and others losing all theirs.

PayPal seems to be very inconsistent on these matters. It appears it may be dependent on which rep you get. However, I also expect that there are other variables that make a big difference, such as how long you have had the PayPal account and whether your account just displayed a massive spike in volume (do not let that happen).

Just to clarify this.... I mean that I've encountered no incidences of fraud by xCoins.io. There are indeed incidences of scammers looking to steal Bitcoin by initiating a dispute with PayPal after receiving their BTC to try get their $ back through charge-backs. However, the buyer verification process on xCoins is pretty good.

It appears that PayPal accept the evidence package provided by xCoins (photo ID, digitally signed contract, blockchain transaction details etc) and sides with the seller in many of the disputes. Whether the scammer wins or loses the dispute, they will be banned permanently from xCoins and will probably have their PayPal account flagged as a potential fraudster, thereby limiting their chances in future. Occasionally a report will be filed with local police/authorities and legal proceedings may ensue. All this helps to make the platform unattractive to fraudsters, as I don't think they can do well at xCoins, and results in an acceptably low (personal opinion) charge-back rate. It will happen though. xCoins will refund some of the disputes that you lose (as part of their 50% profit margin guarantee program), but sellers need to consider the implications of this.

For buyers, there is almost no risk IMO. Buyers pay by convenient methods such as credit card or PayPal. xCoins acts as an escrow service - once the seller receives the PayPal payment, xCoins releases the Bitcoin. The lender cannot prevent this and it is mostly automated (the funds are generally captured automatically in PayPal and the BTC released). This makes the system particularly safe for buyers.

I understand that you may not trust my review, no offence taken. It's true that I don't have a high post count. However, I've been a member/lurker here for nearly 3 years now and I bought my first Bitcoin 4 years ago, so I'm not exactly "green", but nor am I a grizzled old veteran. I just don't post unless I feel I can contribute (there is far too much white noise on this site). I'm linking a screen grab of some of my xCoins transactions - perhaps that may suffice to convince you that I'm not a shill.

http://imgur.com/a/SbAXg

Anyway, bear in mind that I'm not necessarily recommending xcoins.io, but my experience has been mostly positive (I've been luckier than some). Also, I'm more knowledgeable about this platform than most, as I'm an active lender and member of both the private lenders forums and chat channels. Personally, I'm convinced it's not a scam site, but it is new and it is not yet as professional as it could be.

As I mentioned before, there are several obvious risks involved, so, as always, do your due diligence. xCoins fees are higher than you may be used to (as I said, you can use the promotion code jbh184 on registration to mitigate this). Also, customer service at xCoins is definitely lacking; xCoins seem to be under-staffed in that department, but they seem to be trying pretty hard and the system is mostly automated and effortless (when it works as it should).

The poster above who claims it is a scam is 100% wrong - that incident is most likely a result of poor customer service, not intentional fraud, and that poster is just frustrated and venting. There are no genuine incidents of fraud that I'm aware of (and I'm paying close attention - my money is at risk). I don't blame the poster though, there definitely have been periods lasting for several days with no word from customer support. Usually, they come back and launch a new feature they have been working on, then they deal with the outstanding support issues (hardly an ideal way of doing business). However, I opened a support ticket today and had a response within 30 mins, so things seem to be improving.

Hope this all helps a little.

FYI, you can use the following promo code when joining xCoins.io for up to 25% off commission fees: jbh184

It does actually work... but it's not perfect yet.

I've been using xCoins for nearly a month now and I've cashed out profit. It's a pretty good system - you can fully automate your "lending" (read: selling) with minimal effort for around 15% ROI on all BTC passed through the system.

Charge-backs are indeed an issue and can wipe out your profits. However, as mentioned above, xCoins have recently introduced a scheme where they automatically cover all losses due to charge-backs/fraud until you are back to at least 50% profit. This can be considered insurance, designed to cover any early stage lenders who are unlucky enough to hit get with a charge-back early on, prior to making much profit. xCoins say most people who have been using the system for a while are in profit anyway as the CB rate is relatively low.

Other risks include PayPal closing your account due to "high risk" activities. This risk is decreasing with time, I think, as PP now has relationships with Coinbase etc. now and seem to be softening their stance on BTC. Still, it's recommended to start lending in low volumes, and slowly increase it so as not to raise flags/alarms. Also, don't withdraw big sums from PP immediately - always leave enough $ in the PP account to cover possible CBs - this will goes some way to re-assuring PP.

I know that it is a top priority of xCoins to find another payment processor that is more BTC friendly and doesn't allow CBs (or at least provides decent seller protection), but in the meantime 15% ROI on all BTC that you sell via xCoins is likely worth the risks.

Finally... counter-party risk. As always, don't store lots coins on the exchange. Transfer a small amount of BTC and start lending. Replenish balance when empty.



TLDR:
xCoins seems legit, and there's potential for an easy profit - but start with small volumes, assess the risk/reward ratio, read the forums and decide for yourself.

Oh, and use the following promotion code when joining up for up to 25% discount off all commission fees: jbh184

I think you are confusing BitBays.com with BitBay.net.

Regarding BitBays.com, I'm interested in the arbitrage fund, but cannot find much info (in English) online, so I'm reluctant to take the risk yet.

It appears that the arbitrage fund fees are low - no ongoing fees, just a 0.02% withdrawal fee (from the fund, not the exchange)


I'd also like to hear about anyones experience with them.

Done 

PS. China devalued the Yuan, fixed it 0.9% lower than Friday. Probably contributing to the current bump..

http://www.businessinsider.com.au/the-pboc-just-fixed-the-yuan-at-its-weakest-level-since-december-2010-2016-6

What trial?

....and 152 million registered users.

http://www.irishtimes.com/business/sectors/financial-services/paypal-to-start-accepting-bitcoins-1.1922674

Doesn't it all depend on whether China ban is a hoax or not?

Surely, if we get confirmation of the story, it will drop like a rock.
On the other hand, if the PBOC comes out with a statement refuting it and restating their position (like they did last time), then we should see a rally....

I disagree - if your computer's compromised and you withdraw your BTC, you could lose them.

I for one appreciate the warning - gives you the chance to do multiple virus scans, check for key loggers & create a new wallet with a new password before you withdraw.

How about this:

Say Gox had liquidity issues. Gox suspends BTC withdrawals for period and creates unease in the market. Since they now don't have to hold BTC to cover withdrawal requests, they are free to sell them for $.

When people start worrying, Gox releases a statement pointing the finger the Bitcoin protocol, but is not very informative (they could have said that the issue is known since 2011, their wallets are not coded to handle it correctly and pointed to independent the resources/articles that would have calmed sellers). Gox expects a flash crash with a swift recovery as people realize their statement is misleading and that the problem is far from catastrophic.

So when investors panic sell, thinking the BTC protocol compromised, the price drops & Gox buys. They now have much more BTC - enough to cover all withdrawal requests (and any losses incurred due to the "transaction malleability" issue).

If one were to examine Gox's own BTC movements on the blockchain, I wonder if could you see them taking advantage of the flash crash...

http://www.bloomberg.com/video/can-bitcoin-save-the-post-office-iQx5kWnzQI~iWL2ZmNNm0A.html


Could be huge......

Great minds, eh? 

Yeah, I was surprised nobody else was mentioning this point...

And in your other link, the court's decision sets an interesting precedent.

I agree.

Consider this: would the US government (FBI) auction BTC to US citizens, then "ban" it?
That would be a pretty unpopular decision, I don't see it happening. Therefore, I see the FBI auction as a hugely positive indicator of US official sentiment.

Can't help but wonder if all the replies to the OP so far are from the many personalities (read: accounts) of the mysterious schizophrenic individual known as Proudhon...

He's like a FUD spreading Keyser Söze.