Windows Desktop Bitcoin Lending Bot for Poloniex

[xFiber]

Looks nice man. But I've always wonder what would happen if someone takes your loan and ends up losing all the money from your loan. What would happen in that case?

[barcodeguy]

Looks nice man. But I've always wonder what would happen if someone takes your loan and ends up losing all the money from your loan. What would happen in that case?

Thanks man,

In terms the risk - it's absolutely there. To my knowledge I have not heard about anyone losing money up until this point. Poloniex seems to do very well with Margin calls and liquidation if the trader gets close to a default. Nonetheless, they make very clear that it can happen: https://poloniex.com/support/aboutMarginTrading/

Lenders also need to pay very close attention to the possibility of a split next month with BIP148 and Segwit2x activating, as well as the Bitmain position to create another coin. If a fork does happen Poloniex will NOT issue coins from competing chains to the lender. That's a big deal for me personally and I'll be pulling my funds before the start up dates out of lending entirely until I have a better idea of how it's going to end. Poloniex's statement on Bitcoin Unlimited and a possible split most likely still applies, though they haven't issued any statements on BIP148 or Segwit2X as of yet (or if they have and I can't find it please, anyone, put in a link to it!) Here's their BU statement: https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

[GoogleBit]

Thank you very much so far.

Every coin would be happy and very succesful if they had an active Dev like you !

For the ones who install PoloLen first time, be aware. The tool shows it's full power after it was running for 30 days and filled the DB.
I have it running since about five days, and it get's better every day. In the beginning I thought it is not working correctly...

The "Dept BTC" on the top left corner says how many of the first offered BTC's he should ignore for his Deviation Calculation.. (right Dev?)

..and it get's better every time ;-)

PS: I pm'd the Dev with a few suggestions, took him about 24h to get out a new release!     MANY THANKS

[barcodeguy]

Hi GoogleBit,

Thanks for your kind words. It'll make a huge difference once it's adjusted to the market. In terms the Depth BTC - you are correct but I'll expand on it a little bit. That value is how deep in the offer book that Pololen considers to be the market rate. The idea of it is that you wouldn't want to post a loan at the bottom of the book - often times the market rate is 0.2% or higher, but the first loan in the book is .06% or lower. We certainly don't want to issue a loan that low if we can help it. The important thing to remember is that Pololen resets loans every minute. Because it's so fast, you don't want to set DepthBTC to a number that is more Bitcoin then can be lent in a minute's time. Otherwise it'll keep going higher and higher as the market keeps moving higher and higher BUT the market may never catch up to it. IE if you set it to 50, but there's only 45 BTC coming off the book per minute, your offer will never be taken. I've been using 22 BTC, which is the default, for a while now and it's been working quite well. If the market slows down, though, you might want to make it lower. You might also want to make it higher if the market gets really hopping.

The recommended rate is the same as the market rate when the market rate is even or moving up. When the market rate drops down the recommended rate moves down slower. Oftentimes you'll see what I call sharkteeth or PoloPogo on the recommended chart. This is when the market rate dumps down for an instant and comes back up in a few minutes. The idea is that by not sticking directly to the market rate and slowly dropping down the recommended rate we give the market time to recover up to us, rather than us moving down to it, while still eventually meeting it.

Thank you very much so far.

Every coin would be happy and very succesful if they had an active Dev like you !

For the ones who install PoloLen first time, be aware. The tool shows it's full power after it was running for 30 days and filled the DB.
I have it running since about five days, and it get's better every day. In the beginning I thought it is not working correctly...

The "Dept BTC" on the top left corner says how many of the first offered BTC's he should ignore for his Deviation Calculation.. (right Dev?)

..and it get's better every time ;-)

PS: I pm'd the Dev with a few suggestions, took him about 24h to get out a new release!     MANY THANKS

[xFiber]

Looks nice man. But I've always wonder what would happen if someone takes your loan and ends up losing all the money from your loan. What would happen in that case?

Thanks man,

In terms the risk - it's absolutely there. To my knowledge I have not heard about anyone losing money up until this point. Poloniex seems to do very well with Margin calls and liquidation if the trader gets close to a default. Nonetheless, they make very clear that it can happen: https://poloniex.com/support/aboutMarginTrading/

Lenders also need to pay very close attention to the possibility of a split next month with BIP148 and Segwit2x activating, as well as the Bitmain position to create another coin. If a fork does happen Poloniex will NOT issue coins from competing chains to the lender. That's a big deal for me personally and I'll be pulling my funds before the start up dates out of lending entirely until I have a better idea of how it's going to end. Poloniex's statement on Bitcoin Unlimited and a possible split most likely still applies, though they haven't issued any statements on BIP148 or Segwit2X as of yet (or if they have and I can't find it please, anyone, put in a link to it!) Here's their BU statement: https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

Yea someone else who does margin trading told me the person would be liquidated before that happens. So it should be safe but the percentages are only worth it when  you can invest a significant capital so it's not for me yet.

[brobbel]

Yea someone else who does margin trading told me the person would be liquidated before that happens. So it should be safe but the percentages are only worth it when  you can invest a significant capital so it's not for me yet.

Why? You can get easily 50% per year, so for small amounts it's good too. Minimum amount is 0.01 BTC.

[TRoze]

Hey barcodeguy!

First off this is an awesome bot and thank you so much for your time and effort in making this and sharing it with everyone.

I'm having a bit of a problem,  I downloaded and installed Pololen, created an API key, and since I didn't have any funds in my account I just ran it to see how it works, and everything seemed fine.  And I messed around with the deviation numbers a bit too.  So I then deposited some BTC into my account as I was excited to try this bot out.  And all this time the bot was running by the way.  After I see my funds in my exchange wallet, it got automatically switched to lending since I had that option activated in the bot, and it transferred there fine.  After a while, I still didn't see where it says "Credits" get updated and it just sat a 0.  So I closed out of the bot, and was planning to restart it hoping that my credits would show in the bot when I restarted it.  But when I clicked the application I am now getting a pop up message saying "Missing Wallet File.  Terminating Application.  Your registration code is: NOT REGISTERED please use it in any correspondence with BarcodeGuy.  It will be copied to your clipboard when you hit OK" 

If you could help me get this fixed so I can get your awesome bot working I would greatly appreciate it!  Thanks again for everything.

[barcodeguy]

Hey barcodeguy!

First off this is an awesome bot and thank you so much for your time and effort in making this and sharing it with everyone.

I'm having a bit of a problem,  I downloaded and installed Pololen, created an API key, and since I didn't have any funds in my account I just ran it to see how it works, and everything seemed fine.  And I messed around with the deviation numbers a bit too.  So I then deposited some BTC into my account as I was excited to try this bot out.  And all this time the bot was running by the way.  After I see my funds in my exchange wallet, it got automatically switched to lending since I had that option activated in the bot, and it transferred there fine.  After a while, I still didn't see where it says "Credits" get updated and it just sat a 0.  So I closed out of the bot, and was planning to restart it hoping that my credits would show in the bot when I restarted it.  But when I clicked the application I am now getting a pop up message saying "Missing Wallet File.  Terminating Application.  Your registration code is: NOT REGISTERED please use it in any correspondence with BarcodeGuy.  It will be copied to your clipboard when you hit OK" 

If you could help me get this fixed so I can get your awesome bot working I would greatly appreciate it!  Thanks again for everything.

Hi TRoze,

Something happened to your wallet file. If you cannot find it I'll have to build you a new one. I'll get in touch with you later via PM.

[barcodeguy]

Just a clarification - credits are not what is in your Poloniex account. Credits are what you need to pay to run the application. Those will go as far as a -0.001 before it stops lending. If you had generated a payment address it would show up instead of the NOT REGISTERED text that you received, so it's good to know you won't lose any fund with the lost wallet.

That said - folks, your wallet file is extremely important. If you pay in credits their stored there. If you lose it I can regenerate an empty file but I can't get your credits back so please keep it backed up.

Hey barcodeguy!

First off this is an awesome bot and thank you so much for your time and effort in making this and sharing it with everyone.

I'm having a bit of a problem,  I downloaded and installed Pololen, created an API key, and since I didn't have any funds in my account I just ran it to see how it works, and everything seemed fine.  And I messed around with the deviation numbers a bit too.  So I then deposited some BTC into my account as I was excited to try this bot out.  And all this time the bot was running by the way.  After I see my funds in my exchange wallet, it got automatically switched to lending since I had that option activated in the bot, and it transferred there fine.  After a while, I still didn't see where it says "Credits" get updated and it just sat a 0.  So I closed out of the bot, and was planning to restart it hoping that my credits would show in the bot when I restarted it.  But when I clicked the application I am now getting a pop up message saying "Missing Wallet File.  Terminating Application.  Your registration code is: NOT REGISTERED please use it in any correspondence with BarcodeGuy.  It will be copied to your clipboard when you hit OK" 

If you could help me get this fixed so I can get your awesome bot working I would greatly appreciate it!  Thanks again for everything.

[GoogleBit]

Hey barcodeguy!

First off this is an awesome bot and thank you so much for your time and effort in making this and sharing it with everyone.

I'm having a bit of a problem,  I downloaded and installed Pololen, created an API key, and since I didn't have any funds in my account I just ran it to see how it works, and everything seemed fine.  And I messed around with the deviation numbers a bit too.  So I then deposited some BTC into my account as I was excited to try this bot out.  And all this time the bot was running by the way.  After I see my funds in my exchange wallet, it got automatically switched to lending since I had that option activated in the bot, and it transferred there fine.  After a while, I still didn't see where it says "Credits" get updated and it just sat a 0.  So I closed out of the bot, and was planning to restart it hoping that my credits would show in the bot when I restarted it.  But when I clicked the application I am now getting a pop up message saying "Missing Wallet File.  Terminating Application.  Your registration code is: NOT REGISTERED please use it in any correspondence with BarcodeGuy.  It will be copied to your clipboard when you hit OK" 

If you could help me get this fixed so I can get your awesome bot working I would greatly appreciate it!  Thanks again for everything.

I had exactly the same effect. I installed, started, and was running. Closed it, restarted, no wallet file .....
So I reinstalled it from scratch, never had a problem since...

....waiting for a next release ;-)

[barcodeguy]

Strange about the wallets. Their's definitely nothing there that will cause them to be deleted and their's also a backup maintained in the same folder. The next release will address recreating them, but you will still want to keep them backed up as recreated wallets will have a balance of -0.001.

New release maybe tonight, maybe tomorrow. I'm testing now. It'll be a good one - this is from my Changelog. I'll go into more detail and update the website once it's ready to release.

06-18-2017 - Modified deviation minimum rate to be negative or positive values
06-18-2017 - Added exception handling to cancel loan orders. If Poloniex returns an error current build shows an ugly exception box.
06-18-2017 - Updated manual lending to allow the user to split up offers into smaller chunks.
06-19-2017 - Added status indicator
06-19-2017 - Modified manual offer behavior to stop auto lending while the offer dialog is open
06-19-2017 - Added status bar to Manual Lend Window
06-19-2017 - Added status bar to main window
06-19-2017 - Added ability to interact with the server to get a single line message
06-19-2017 - Updated hourly chart to be three hours
06-19-2017 - Updated hourly chart to show minimum rate (based on deviation.)
06-19-2017 - Updated hourly chart to show manual rate (if lending manually)
06-19-2017 - Updated hourly chart to show points where an offer was placed
06-19-2017 - Added slider to set the rate that step down protection will drop to meet the market.
06-19-2017 - Changed missing wallet functionality to rebuild a wallet if needed with negative credits.

Hey barcodeguy!

First off this is an awesome bot and thank you so much for your time and effort in making this and sharing it with everyone.

I'm having a bit of a problem,  I downloaded and installed Pololen, created an API key, and since I didn't have any funds in my account I just ran it to see how it works, and everything seemed fine.  And I messed around with the deviation numbers a bit too.  So I then deposited some BTC into my account as I was excited to try this bot out.  And all this time the bot was running by the way.  After I see my funds in my exchange wallet, it got automatically switched to lending since I had that option activated in the bot, and it transferred there fine.  After a while, I still didn't see where it says "Credits" get updated and it just sat a 0.  So I closed out of the bot, and was planning to restart it hoping that my credits would show in the bot when I restarted it.  But when I clicked the application I am now getting a pop up message saying "Missing Wallet File.  Terminating Application.  Your registration code is: NOT REGISTERED please use it in any correspondence with BarcodeGuy.  It will be copied to your clipboard when you hit OK" 

If you could help me get this fixed so I can get your awesome bot working I would greatly appreciate it!  Thanks again for everything.

I had exactly the same effect. I installed, started, and was running. Closed it, restarted, no wallet file .....
So I reinstalled it from scratch, never had a problem since...

....waiting for a next release ;-)

[barcodeguy]

Here's a screenshot from the new hourly chart of the market activity this AM (at least it's morning for me.) It's a good illustrator of how rate drop protection can increase your loan rates if your using low minimums and essentially lending at market rate. Each dot is an offer (not necessarily taken) and the black line is market. When the market get's chaotic, going from 0.42% down to around 0.18%, the recommended rate runs higher giving the market time to correct. Unfortunately, at the right side of the graph you'll see the market stayed down for an hour or so and step down eventually got there. The new build coming will allow adjustment of step down so that lenders can make it much slower if they wish to.

[GoogleBit]

...come on, you can't talk about all this brilliant new features while I'm sitting here and waiting ....tock.....tock...tock....

I love you mate ;-)

These options open up a way to very various and different behavior.
Looking forward as you can imagine ;-)


You're the best, many thanks, cheers MAX


....still waiting ;-)

[GoogleBit]

A few little things missing:

- I can't find a link on your webpage to this Bitcointalk thread
- no e-mail contact address there
- no BTC address to send you a beer either ... (most important for us to show you how happy we are with your development)

...please do that ;-)

[barcodeguy]

Good Catches GB,

I'll take care of the first two when I post the new build.

In terms the other - much appreciated but save it for credits

Now it's off to work. Take care.

A few little things missing:

- I can't find a link on your webpage to this Bitcointalk thread
- no e-mail contact address there
- no BTC address to send you a beer either ... (most important for us to show you how happy we are with your development)

...please do that ;-)

[Dabs]

I could probably sniff around, but I might as well ask you directly:

1. What servers does it connect to aside from poloniex?
2. How does it generate the credits bitcoin address?
3. How does it check payments?
4. How are you preventing someone from faking the payment to keep your bot running for free?

Would you be willing to create a version that is a one time payment? Or would you give discounts that scale with the interest earned? (Or do you really want to get paid $5000 if I generate $100k in interest from lending with your bot?)

I've yet to try your bot actually, thought I'd ask some questions first.

[barcodeguy]

Hi Dabs,

Question 1 - Poloniex.com, CoinDesk.com, BlockChain.Info, PoloniexBitcoinlendingBot.com.

In terms the other questions that's really an internal thing. I completely understand if my lack of answers makes you decide to pass on it but I'm not going to release how that works, other than saying it doesn't require me to keep a server running. If I die tomorrow it'll work for as long as there's a compatible version of Windows to run it on and the user pays in credits to their credit address.

I haven't thought about a one time payment or tiered pricing, but I'll ponder it. If you have something specific in mind PM me.

I could probably sniff around, but I might as well ask you directly:

1. What servers does it connect to aside from poloniex?
2. How does it generate the credits bitcoin address?
3. How does it check payments?
4. How are you preventing someone from faking the payment to keep your bot running for free?

Would you be willing to create a version that is a one time payment? Or would you give discounts that scale with the interest earned? (Or do you really want to get paid $5000 if I generate $100k in interest from lending with your bot?)

I've yet to try your bot actually, thought I'd ask some questions first.

[GoogleBit]

....In terms the other - much appreciated but save it for credits

..that is only working, when I make interest. My Credits are BTC in my own local PoloLen wallet, as I understood.
And you only get payed your 5% of the interest each time I make some.
A tip button would do the job too... give it the picture of a beer can,  and put a 0.0008 BTC behind it ;-)

[Dabs]

Okay, fair answer, can I bug you some more, about the servers: poloniex, obviously to do its thing, coindesk and blockchain to check for credits? (why coindesk?), and your site, to check for new versions?

Now, I don't wish anyone to die tomorrow (actually, maybe a few politicians, but that's off-topic), but ... tiered pricing, or a ceiling? Or maybe even some sort of fixed price subscription (but really to keep updated.) I understand you won't release how it works, and probably won't open source this, that's okay. And I don't think you need to fear someone cracking your software, but at the same time I don't want you as a software dev to "devolve" into creating a complicated anti-crack/anti-piracy scheme which ruins the whole thing for everyone, so I asked those questions.

If you're going with a subscription, you might want at least one master bot (your own) that supplies that data from the past several weeks of lending, that way even if the bots are running locally, they can get updated market data, with the option to ignore that and work completely locally.

Yours does look better than the others I've found.

[barcodeguy]

It should be looking even better after the build tonight. If you are interested in giving it a shot I'd wait until I get the next version up.

You're correct on all counts, but I also get BTC/USD off coindesk.com.

Very good point on the lending rates. That is on my mind too, although it's probably going to be less sophisticated than you envision. I'm thinking that I may update a file on the website every couple of hours and at least give new users the option of downloading that file once they get started up. The rates that come with it now take a while to match the market which can be tough on new users. Of course the alternative that's currently available is for new users to lend manually (like other bots do) and switch it to automatic after the real rates are stored in the bot.

Now I really have to get back to work before "the man" (whose actually not a bad guy) comes around and slaps me

Okay, fair answer, can I bug you some more, about the servers: poloniex, obviously to do its thing, coindesk and blockchain to check for credits? (why coindesk?), and your site, to check for new versions?

Now, I don't wish anyone to die tomorrow (actually, maybe a few politicians, but that's off-topic), but ... tiered pricing, or a ceiling? Or maybe even some sort of fixed price subscription (but really to keep updated.) I understand you won't release how it works, and probably won't open source this, that's okay. And I don't think you need to fear someone cracking your software, but at the same time I don't want you as a software dev to "devolve" into creating a complicated anti-crack/anti-piracy scheme which ruins the whole thing for everyone, so I asked those questions.

If you're going with a subscription, you might want at least one master bot (your own) that supplies that data from the past several weeks of lending, that way even if the bots are running locally, they can get updated market data, with the option to ignore that and work completely locally.

Yours does look better than the others I've found.