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Author Topic: Poloniex's usury supported altcoin trading platform  (Read 603 times)
Sir Alpha_goy
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September 08, 2016, 10:24:50 PM
 #1

Do you agree with Poloniex's usury supported platform?

Does it harm or help the Bitcoin ecosystem?

Place your comments below.

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September 09, 2016, 03:11:13 AM
 #2

I do not get what you are pointing at. Do you mean the lending of coins going on in the site? I think it is up to the user's prerogative if he should borrow or not. What I like about it is you can choose at what interest rate you borrow and no one is imposing any rates on you unlike the traditional banking system.

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Das
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September 09, 2016, 09:27:47 AM
 #3

Banks require collateral before issuing loans. Poloniex might be playing a dangerous game.

Traders might find a way of borrowing and not paying back and Poloniex will be left with bad loans. Sad
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September 09, 2016, 09:43:00 AM
 #4

usury? Lending feature? Big exchanges all have this service, like okcoin, huobi, bitfinex and so on. I don't know why you only blame polo

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September 09, 2016, 11:33:23 AM
 #5

Banks require collateral before issuing loans. Poloniex might be playing a dangerous game.

Traders might find a way of borrowing and not paying back and Poloniex will be left with bad loans. Sad
Actually on poloniex taking loans is not like just taking loans for purpose. It is to open long or short position in margin trading and there is automatic stop feature set so that even that position goes on complete loss the one who open those position will loss his fund. The remaining fund will be used to pay back the lender with fee and 2% trading fee to poloniex. The attractive thing here is 2% trading fee for exchangers, that's why most of the exchange platform have lending section and margin trading.

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September 09, 2016, 01:14:40 PM
 #6

Banks require collateral before issuing loans. Poloniex might be playing a dangerous game.

Traders might find a way of borrowing and not paying back and Poloniex will be left with bad loans. Sad

it's just a position... you cant run away with the coins. they dont even appear in your wallet/balance. and you need a collateral to take a "loan".
incredible how many people criticize without even knowing how it works....

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September 09, 2016, 01:47:12 PM
 #7

Banks require collateral before issuing loans. Poloniex might be playing a dangerous game.

Traders might find a way of borrowing and not paying back and Poloniex will be left with bad loans. Sad
The system is using by the poloniex is same with the system is using by bank, I think they're not wanna for giving big loans for the collateral is having a cheap price maybe I sure if that is just giving a half from the price of the collateral is giving by the borrower

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