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Author Topic: Windows Desktop Bitcoin Lending Bot for Poloniex  (Read 15001 times)
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AndrewMather
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June 25, 2017, 05:32:13 PM
 #101

There is an intriguing possibility, and apologies if I'm going too fast in suggesting things - enthusiasm not pressure, which is that I chose 'BitcoinLendingBot' not 'PoloniexLendingBot' for my FB page (though I picked up the domain name PoloniexLendingBot.net).

That is 'provider agnostic', or it could be, and I would happily make you an admin, which would allow you to post articles on your bot on our (then shared) page.

Our philosophies with regard to potential clients and in the implementation of the bots seem similar: provide a service that provides legitimate access to automated lending. Given my experience on Facebook, we do get trolls, and two providers on the page would actually be a further anti-troll measure, as is the support of our clients in confirming that our service and the numbers are real.

Just a thought, pleasure to have you there if you decide to go for it, and I'm sure we can finesse any slight differences.
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barcodeguy
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June 25, 2017, 05:43:38 PM
 #102

That's very kind of you to offer Andrew, thank you. I'll send you an email shortly.

There is an intriguing possibility, and apologies if I'm going too fast in suggesting things - enthusiasm not pressure, which is that I chose 'BitcoinLendingBot' not 'PoloniexLendingBot' for my FB page (though I picked up the domain name PoloniexLendingBot.net).

That is 'provider agnostic', or it could be, and I would happily make you an admin, which would allow you to post articles on your bot on our (then shared) page.

Our philosophies with regard to potential clients and in the implementation of the bots seem similar: provide a service that provides legitimate access to automated lending. Given my experience on Facebook, we do get trolls, and two providers on the page would actually be a further anti-troll measure, as is the support of our clients in confirming that our service and the numbers are real.

Just a thought, pleasure to have you there if you decide to go for it, and I'm sure we can finesse any slight differences.

If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
AndrewMather
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June 25, 2017, 07:38:08 PM
 #103

btw, for your customers wondering how much to put across as fees, here's a ready reckoner:

your bot, mine, PLB.com, are all achieving around 50% rates... on which you're charging 5% (I believe) for a net fee on capital of 2.5% per annum...

so:

1% of capital (0.01 BTC for ever BTC, or .001 BTC for every .1BTC) will comfortably handle about six months.

0.5% of capital (position) about 3 months

0.2% of capital a month

Or you can do it from daily fees, with bots achieving around 0.15% daily (59% APR).

Multiply .15% by 30 and take 5% of that and you get: .225%

Hardly surprising, as it's just (30/20) * daily rate, or 1.5 x daily rate.

So there you go: 0.2% should pretty much cover a month, 1% should handle around six months.

For "$100", 0.2% = $0.20. For 0.100 BTC, 0.2% = 0.0002 BTC

Numbers are deliberately 'round' for ease of memorising them.
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June 25, 2017, 09:59:18 PM
 #104

hey you guys .... there's a whole bunch of bots, just for polo, not to mention the trading ones that sometimes double as margin and lending bots too. I think I counted 4 or 5.. maybe even 6. 2 or 3 are web based and activate at least per hour, or every few hours (maybe because of the ip address limitations.)

So I like this one. Simple is better. Was actually going to make one that isn't too smart and just relends at a little above market, but hey, someone taking five percent? Not a bad deal, just don't end up bloating it too much.

And I'm trying to "openly" negotiate a better rate (or free after $5000 USD), maybe I should just PM him. heheheheh.

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AndrewMather
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June 25, 2017, 10:28:28 PM
 #105

lol, good luck with that one... (I should amend this to me more accurate, and not appear to undermine the developer's fee structure). I start charging fees at 0.5btc and offer retail below that for free... not enough money in it at 5% to make it economically significant. I certainly don't consider anything less that 5btc to be particularly useful, though I'm delighted that people have found the market and are participating in it.  Still, you could build your own, and fully deserve 100% of interest for your effort. In the meantime, I'd honour the dev for making you 50% for doing nothing. Some people might think he was doing you a favour.
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June 25, 2017, 11:55:46 PM
 #106

Anyone have stats on how much BTC volume is being borrowed at Poloniex per day?
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June 26, 2017, 12:14:11 AM
 #107

Hi All - Just a heads up that I'm going to be busier this week than usual hosting some developers for an unrelated project. It may take me longer than usual to respond and I don't want anyone thinking I've disappeared. This time of year is busy for me as a general rule, which is one reason you were seeing builds every couple of days for a little while there - I wanted to make sure you all had the major pieces in place you needed.

You'll still see builds with updates - I promise - they just won't be two days apart Smiley



If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
Dabs
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June 26, 2017, 12:48:38 AM
 #108

Don't worry. I know how to make Windows 98 SE and XP still run fine. Smiley Although I've since upgraded to 7, skipped 8, and went straight to 10. Server 2012 and 2016 too.

Lending rates just crashed to below my minimum. heheheh.. oh well, there goes our 50%.

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barcodeguy
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June 26, 2017, 12:58:21 AM
 #109

Don't worry. I know how to make Windows 98 SE and XP still run fine. Smiley Although I've since upgraded to 7, skipped 8, and went straight to 10. Server 2012 and 2016 too.

Lending rates just crashed to below my minimum. heheheh.. oh well, there goes our 50%.

Edit: Everything's red in margin trader land. Something aught to run pretty quick.

If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
freemanjackal
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June 26, 2017, 01:53:40 AM
 #110

is it worth lending on poloniex?

Dabs
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June 26, 2017, 03:36:35 AM
 #111

is it worth lending on poloniex?
What is "worth" to you? 50% per year? So you lend 10 BTC, and get back 5 BTC after 365 days, more or less.

If the daily rate goes below 0.11%, you might get less than 40% p.a. (after polo gets their 15%, and after the dev gets his 5%)
If the daily rate goes above 0.20%, you might get more than 80% p.a.

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ccoinca
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June 27, 2017, 03:30:33 AM
 #112

what is the purpose of the bot cancelling a loan offer and replacing it with a new one every 1 minute at the exact same price?

Doesn't this lose the loan spot in queue?
Dabs
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June 27, 2017, 03:57:32 AM
 #113

I'm guessing the bot doesn't "think" too much or checks that it's the same price. Perhaps if you have several loans and they get all cancelled, they can get replaced with a bigger loan at the same price, and maybe a longer duration. I am also guessing the bot calculates internally different numbers but then gives the rates at 4 significant digits, and the duration is rounded to the nearest whole day.

Or it could really be just as simple as: cancel all offers, then go make a new one. I don't think the spot in the queue matters that much for all loans at the same price, and if your loan has a rate less than others you are already ahead in the queue.

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ccoinca
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June 27, 2017, 05:05:55 AM
 #114

I'm guessing the bot doesn't "think" too much or checks that it's the same price.

Yes though should it be? Why not just leave the original loan offer there if the bot is going to fire off another loan offer at the same price?
GoogleBit
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June 27, 2017, 08:20:57 AM
 #115

ccoinca, Dabs

I mentioned this to the Dev a while ago, he is aware of it ;-)

(edit)
.....but keep going posting your ideas ;-)
Dev is quite open for.
barcodeguy
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June 27, 2017, 10:51:15 AM
 #116

Hi All,

Eventually I'd like to combine this with a time setting override and not changing on the same rate. IE, if the last rate matches this rate, we don't pull the loan and include a time override in which the user can post for x minutes, regardless of rate changes. This also requires modifying how I'm tracking loans that are offered and change that so it does better at offering multiple loans as funds become available.

The initial design was post, pull, post, pull which has worked fine for me, but as features have been requested and added there's no doubt that a smarter solution is in order.

ccoinca, Dabs

I mentioned this to the Dev a while ago, he is aware of it ;-)

(edit)
.....but keep going posting your ideas ;-)
Dev is quite open for.

If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
barcodeguy
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June 27, 2017, 11:03:59 AM
 #117

Dabs,

Absolutely correct on the internal numbers. Poloniex shows the user a 4 digit percentage. Behind the scenes (and I used to show this on the bot but it was confusing) Poloniex uses the actual multiplier that does the math.

IE - a rate like: 0.1234% through the API is something like 0.00123400, or 0.00123402, etc.

So when you see an offer posting on the bot log I'm rounding the 0.00123402 to a four digit percent and showing the four digit percent on the screen so it's less confusing.

This is why on the Polo website you'll often have multiple lines of loan offers with the same rate. You might see 0.1000% on ten different lines of loan offers in the offer book. Poloniex is actually grouping them based on the bid rate - it's just that the bid rate is more accurate than the four digits it shows. (At least that's what I see on my phone. I don't visit the actual website enough to say it's on there too, but I suspect it is.)

I'm guessing the bot doesn't "think" too much or checks that it's the same price. Perhaps if you have several loans and they get all cancelled, they can get replaced with a bigger loan at the same price, and maybe a longer duration. I am also guessing the bot calculates internally different numbers but then gives the rates at 4 significant digits, and the duration is rounded to the nearest whole day.

Or it could really be just as simple as: cancel all offers, then go make a new one. I don't think the spot in the queue matters that much for all loans at the same price, and if your loan has a rate less than others you are already ahead in the queue.

If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
ccoinca
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June 27, 2017, 06:29:14 PM
 #118

doesn't seem to be that smart of a bot when it is trying to lend out at .13%, when the market is at .09%.

just a simpleton observation.
barcodeguy
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June 27, 2017, 06:38:48 PM
 #119

Adjust your minimum down. It's in deviation calculations. It's up to the user where the minimum is.
doesn't seem to be that smart of a bot when it is trying to lend out at .13%, when the market is at .09%.

just a simpleton observation.

If you lend on Poloniex try Pololen at http://PoloniexBitcoinLendingBot.com - the Windows based decentralized lending bot.
zeflex
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June 27, 2017, 06:52:44 PM
 #120

Any financials feedbacks about this bot ?

I am curious to know if it can really make your earn some money or if in some cases, you can lose money.
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