bitebits
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Activity: 2216
Merit: 3238
Flippin' burgers since 1163.
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July 30, 2017, 08:29:35 PM |
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Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
100% risk to lose your BCC.
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jojo69
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diamond-handed zealot
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July 30, 2017, 08:31:05 PM |
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yefi
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Activity: 2842
Merit: 1511
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July 30, 2017, 08:44:14 PM |
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Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
100% risk to lose your BCC. Yeah, have people overlooked this? Assuming Polo distributes BCC, it will be the borrower not the lender who receives the distribution, as happened with the ETC fork.
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dr blowfin
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July 30, 2017, 08:45:19 PM |
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Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
There is a little risk, but you can lend for 2 or 60 days max. It ussually gaves 0.10% but because of speculation about aug 1st is giving like 4% daily return. there is no way to it to not be payed, because that money is used for margin trading. I have been lending in poloniex for 2 months, it really works. Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
The lowest loan offer right now is 3.1%. The risks to loaning on POLO are listed below. a) A flash crash happens and the POLO program doesn't call the margin in time for the loan taker to pay you back. b) Polo's program has an error and you do not get your funds back, c)Your Polo account gets hacked, and someone manages to steal you coins when they are not on order. d)Polo becomes insolvent due to coins getting hacked/embezzeled/seized. Thanks guys Can I lend 100 BTC and make 3BTC/day?? Why would you risk that much? You can lend for a day minimun, i lended 0.10 and its giving me 2.75% daily return. I would never risk everything in only one site, doesnt matter how good it looks These rates won't last. I expect it's only because everyone has pulled their BTC from Polo to get BCH and there's not much available for lending. I got 1.8% a few days ago which was pretty insane I thought. Typical rates are about 0.07% recently. I expect it will settle back down to that after August 1st.
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bones261
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Activity: 1806
Merit: 1827
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July 30, 2017, 08:46:34 PM |
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But the arrogant attitude conveyed is rather noisome.
No its not, ur just not paying attention enough! A prime example. If you don't think the above statement you just made to me comes off as condescending, you are completely oblivious.
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traincarswreck
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July 30, 2017, 09:03:10 PM |
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A prime example. If you don't think the above statement you just made to me comes off as condescending, you are completely oblivious.
I said pay attention, not don't pay attention more! So the people that think bitcoin has a congestion problem are the one's that have no understanding or claim of understanding economics. And if you ask them about their understanding they will stop asserting their opinion.
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bones261
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July 30, 2017, 09:18:25 PM |
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A prime example. If you don't think the above statement you just made to me comes off as condescending, you are completely oblivious.
I said pay attention, not don't pay attention more! Such an opening statement inspires me to be rather obstinate, and made it quite difficult to digest any of the information that followed. Rather than using a spoonful of sugar to make the medicine go down, you used a spoonful of coffee grounds. Sure, the coffee grounds may help me be more alert, but not if I can't choke it down. Don't even bother responding to me. I have you on ignore, for now.
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traincarswreck
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July 30, 2017, 09:20:52 PM |
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Such an opening statement inspires me to be rather obstinate, and made it quite difficult to digest any of the information that followed. Rather than using a spoonful of sugar to make the medicine go down, you used a spoonful of coffee grounds. Sure, the coffee grounds may help me be more alert, but not if I can't choke it down. Don't even bother responding to me. I have you on ignore, for now.
The argument though, concentrate on the facts no the character of the messenger!
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williamuk
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July 30, 2017, 09:26:25 PM |
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What??
I said you have an opinion and you are assertive about it, but you don't understand how central banking works or economics in general. I wasn't stating an opinion, I was stating facts about how bitcoin is being centralised by one corporation around Blockstream, it had nothing to do with your conversation And anyway how would you know what I know, particularly about cbs and economics. You don't know me
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spiderbrain
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Activity: 889
Merit: 1013
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July 30, 2017, 09:29:10 PM |
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But the arrogant attitude conveyed is rather noisome.
No its not, ur just not paying attention enough! Are you a 14 year old boy?
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savetherainforest
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July 30, 2017, 09:32:12 PM |
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When exactly is the chain split? Do I need to transfer coins today or can I do tomorrow?
Are you a troll??
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traincarswreck
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July 30, 2017, 09:32:42 PM |
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Are you a 14 year old boy?
What do you think the chances are you can hold a candle to me in regard to the macro economic implications of bitcoin? I wasn't stating an opinion, I was stating facts about how bitcoin is being centralised by one corporation around Blockstream, it had nothing to do with your conversation And anyway how would you know what I know, particularly about cbs and economics. You don't know me You are stating your opinion as fact which is a conclusion you have mistakenly come to because you don't actually know how central banks work and what their purpose is. You know what economics and game theory are and how they are relevant to understanding bitcoin (which you do not). You are literally asserting an opinion about something you don't understand.
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r0ach
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Merit: 1000
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July 30, 2017, 09:35:08 PM |
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- lots of John Nash quotes -
People who are unable to do anything but parrot an "authority figure" are the ones who have no understanding of economics. Do you think anyone would care about what Nash said if he just parroted someone else? It's not possible for any craptocurrency to defeat metals as the base of Exter's pyramid (lowest settlement layer) because bitcoin has built-in rent seeking middlemen and counter party risk. You could even claim that since bitcoin requires a constant net energy/resource input >0 to appease these middlemen and not implode, that it's technically a debt based currency in practice. It's just not lended into existence like a traditional one. A typical debt based currency has a constant resource drain where the whole of society has to pay the interest rate (which is always higher than the principal and requires infinite growth) or the system dies. In bitcoin, the miners just take the place of the bankers who the interest rate has to be paid to...or the system dies. PoW is also designed to centralize, so you end up with the exact same type of central bank bank model bitcoin claims to be there to defeat. There is really no reason whatsoever to use bitcoin over gold and silver. Metals actually remove counter party risk, don't have rent seeking middlemen, scale, and have no pseudo debt based element to them.
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williamuk
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Activity: 70
Merit: 10
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July 30, 2017, 09:35:25 PM |
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Are you a 14 year old boy?
What do you think the chances are you can hold a candle to me in regard to the macro economic implications of bitcoin? I wasn't stating an opinion, I was stating facts about how bitcoin is being centralised by one corporation around Blockstream, it had nothing to do with your conversation And anyway how would you know what I know, particularly about cbs and economics. You don't know me You are stating your opinion as fact which is a conclusion you have mistakenly come to because you don't actually know how central banks work and what their purpose is. You know what economics and game theory are and how they are relevant to understanding bitcoin (which you do not). You are literally asserting an opinion about something you don't understand. You must be confusing me with some else I haven't said a word about central banks
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bones261
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Activity: 1806
Merit: 1827
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July 30, 2017, 09:39:37 PM |
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When exactly is the chain split? Do I need to transfer coins today or can I do tomorrow?
BCC chain split is 08/01/2017 at 12:20 PM UTC.
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traincarswreck
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July 30, 2017, 09:53:42 PM |
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People who are unable to do anything but parrot an "authority figure" are the ones who have no understanding of economics. Do you think anyone would care about what Nash said if he just parroted someone else? It's not possible for any craptocurrency to defeat metals as the base of Exter's pyramid (lowest settlement layer) because bitcoin has built-in rent seeking middlemen and counter party risk. You could even claim that since bitcoin requires a constant net energy/resource input >0 to appease these middlemen and not implode, that it's technically a debt based currency in practice. It's just not lended into existence like a traditional one.
A typical debt based currency has a constant resource drain where the whole of society has to pay the interest rate (which is always higher than the principal and requires infinite growth) or the system dies. In bitcoin, the miners just take the place of the bankers who the interest rate has to be paid to...or the system dies. PoW is also designed to centralize, so you end up with the exact same type of central bank bank model bitcoin claims to be there to defeat. There is really no reason whatsoever to use bitcoin over gold and silver. Metals actually remove counter party risk, don't have rent seeking middlemen, scale, and have no pseudo debt based element to them.
You have said that by citing my argument I do not understand it. I think you don't understand what it means to present a proper argument. Then you continue to assert your authority "exter's pyramid". Your writing is long winded and full of obfuscation and bad assumptions. But I don't need to peel the layers away. You have argued bitcoin cannot be what we are watching it be, a money and a currency. You have suggested "metals" can only take the bottom role of the pyramid, as we watch golds price and relevance decline. What other metals are you referring to? Golds supply is not throttled and limited like you are assuming. That is why it is losing its monetary relevance. Reality disagrees with your belief system. And you can't send metals around the world like you can with bitcoin You are making blatantly silly statements: There is really no reason whatsoever to use bitcoin over gold and silver.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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July 30, 2017, 10:14:41 PM |
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I now have several BTC loaned on Poloniex at between 4 and 4.9999% daily rate.
5% being the max allowed.
Feeling a bit Jewish right now...
You don't need to be Jewish to take advantage of a situation and profit. I withdrew all of my BTC from Polo a couple of weeks ago, due to concerns being raised daily about their support/withdrawal issues and the recommendations of several trusted sources to move your coins to your control by August 1, just in case things go wrong. Also, I can now use my coins to claim free Byteball and BCC. Just know, that POLO's policy will be to give free BCC to the person who took the loan and not the lender. May be why some people are willing to pay such outrageous rates to go long on bullshit. Guess they may think they have a hedge, now. Are you sure that you got that correct? If a loan is made before August 1, and bitcoin forks during the loan, then if Poloniex recognizes both chains, then would both chains be recognized as still being part of the pre-august 1 loan? seems strange? Same would be true on Bitfinex, and I did not think about the situation as being only one side of the loan.. so could be confusing, and maybe that is why Bitfinex rates are merely .4% per day, right now as compared with Poloniex rates? about a 10x difference in interest rates, no?
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bones261
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Activity: 1806
Merit: 1827
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July 30, 2017, 10:23:33 PM |
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I now have several BTC loaned on Poloniex at between 4 and 4.9999% daily rate.
5% being the max allowed.
Feeling a bit Jewish right now...
You don't need to be Jewish to take advantage of a situation and profit. I withdrew all of my BTC from Polo a couple of weeks ago, due to concerns being raised daily about their support/withdrawal issues and the recommendations of several trusted sources to move your coins to your control by August 1, just in case things go wrong. Also, I can now use my coins to claim free Byteball and BCC. Just know, that POLO's policy will be to give free BCC to the person who took the loan and not the lender. May be why some people are willing to pay such outrageous rates to go long on bullshit. Guess they may think they have a hedge, now. Are you sure that you got that correct? If a loan is made before August 1, and bitcoin forks during the loan, then if Poloniex recognizes both chains, then would both chains be recognized as still being part of the pre-august 1 loan? seems strange? Same would be true on Bitfinex, and I did not think about the situation as being only one side of the loan.. so could be confusing, and maybe that is why Bitfinex rates are merely .4% per day, right now as compared with Poloniex rates? about a 10x difference in interest rates, no? Yes, Bitfinex policy is to give the split coins to the lender. Poloniex policy is to give the split coins to the borrower. https://www.bitfinex.com/posts/212/reviewhttps://poloniex.com/press-releases/2017.07.24-Our-plans-to-handle-potential-BTC-network-disruptions/
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JayJuanGee
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Activity: 3752
Merit: 10396
Self-Custody is a right. Say no to"Non-custodial"
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July 30, 2017, 10:52:06 PM |
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It is a bit difficult to learn very much from this interview between Roger and Miss Bitcoin Japan, because they mostly speak in conclusions. It does seem that she has become very skeptical of roger and his motives, even though she has known him for 5 years - but surely she has difficulties expressing herself in English, but also she seem to be somewhat lacking in some understanding of various nuanced arguments in order to really present them to Roger - I did notice one outline of a plan regarding bitcoin cash... and it seems that if they fork, they are wanting to use the fork as some kind of leverage to attempt to force bitcoin to hardfok scale up to 2mb in November - or otherwise to ramp up the competition at that point by directing all mining power to Bitcoin cash and attempt to get various other economic nodes to follow them in order to attempt to increase bitcoin cash liquidity and utility at that time in order to attempt to become a viable bitcoin competitor - also suggesting that there is going to be an ongoing incentive to continue to mine bitcoin cash throughout this time because if the difficulty level of bitcoin cash is lower, then it may well be equally profitable to mine some bitcoin cash (assuming that bitcoin cash is able to retain some market value with the passage of time)
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JayJuanGee
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Activity: 3752
Merit: 10396
Self-Custody is a right. Say no to"Non-custodial"
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July 30, 2017, 10:56:48 PM |
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Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
There is a little risk, but you can lend for 2 or 60 days max. It ussually gaves 0.10% but because of speculation about aug 1st is giving like 4% daily return. there is no way to it to not be payed, because that money is used for margin trading. I have been lending in poloniex for 2 months, it really works. Are people actually getting 4-5% daily interest on lending BTC in polo??
Anyone try it? Is there a big risk of losing BTC?
The lowest loan offer right now is 3.1%. The risks to loaning on POLO are listed below. a) A flash crash happens and the POLO program doesn't call the margin in time for the loan taker to pay you back. b) Polo's program has an error and you do not get your funds back, c)Your Polo account gets hacked, and someone manages to steal you coins when they are not on order. d)Polo becomes insolvent due to coins getting hacked/embezzeled/seized. Thanks guys Can I lend 100 BTC and make 3BTC/day?? That is called math, and the result 3/100 is 3% per day.. good job!!!!
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