Windows Desktop Bitcoin Lending Bot for Poloniex

[cderfv12]

It's not connecting to Poloniex. That's what I asked you to check in PM before I reissued your credits.

This indicates that it is not connecting:

7/8/2017 3:30:54 AM Error Connecting to Poloniex
7/8/2017 3:30:54 AM Please ensure your API keys are correct

You will need to delete your wallets again. Then you will need to start the application to rebuild the wallets. Then reenter your API keys. Then run it to ensure it is connecting and see's your balances. Before I send another set of credits I will need you to post your log to ensure it's really connecting.

Is it available or is it out on offers? If it's out on offers the bot won't close those offers. You'll have to close them to make the funds available. Also, it needs to be more than 0.01 in order for Poloniex to accept the offer.

Do you have a value in the "Bank" on the bot? If so, remove that value so the box is empty.

If neither of these help please let the bot cycle and copy the log and paste it in.

Do you have bitcoin in the lending account on Poloniex?

In log it says that I have no balance and does not make any loans how do I solve this?

yes

this is log: 7/8/2017 3:30:51 AM Getting recommended rate
7/8/2017 3:30:51 AM Recommended Rate: 0.0794%
7/8/2017 3:30:51 AM Minimum lending rate is: 0.0378%
7/8/2017 3:30:51 AM Recommended duration based on average of: 0.1058%
7/8/2017 3:30:51 AM With deviation of 0.0189% is 2 days.
7/8/2017 3:30:53 AM Getting Lending Balance
7/8/2017 3:30:54 AM Error Connecting to Poloniex
7/8/2017 3:30:54 AM Please ensure your API keys are correct
7/8/2017 3:30:54 AM Available Lending Balance: 0.00000000
7/8/2017 3:30:55 AM Lendable Amount: 0.00000000
7/8/2017 3:30:56 AM Polling for Open Offers
7/8/2017 3:30:56 AM Error Getting Open Offers
7/8/2017 3:30:57 AM Checking for additional credits
7/8/2017 3:30:57 AM Credit History: 0.00110000
7/8/2017 3:30:57 AM Credit Balance: 0.00010000
7/8/2017 3:30:57 AM Polling for History.
7/8/2017 3:31:02 AM Error Getting History

7/8/2017 3:39:38 AM CREDITS ARE NEGATIVE!
7/8/2017 3:39:38 AM You have: -0.001 available.
7/8/2017 3:39:38 AM Your grace period will end soon.
7/8/2017 3:39:38 AM To continue using the application, please refill your credits.
7/8/2017 3:39:38 AM Getting recommended rate
7/8/2017 3:39:39 AM Recommended Rate: 0.0791%
7/8/2017 3:39:39 AM Minimum lending rate is: 0.0869%
7/8/2017 3:39:39 AM Setting rate to minimum rate
7/8/2017 3:39:39 AM Recommended duration based on average of: 0.1058%
7/8/2017 3:39:39 AM With deviation of 0.0189% is 2 days.
7/8/2017 3:39:41 AM Getting Lending Balance
7/8/2017 3:39:44 AM Error Connecting to Poloniex
7/8/2017 3:39:44 AM Please ensure your API keys are correct
7/8/2017 3:39:44 AM Available Lending Balance: 0.00000000
7/8/2017 3:39:45 AM Lendable Amount: 0.00000000

[1714918020]

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[barcodeguy]

It's not connecting to Poloniex. This could be one of the following:

API Key or Secret Are entered wrong
Save not clicked after entering API and Secret
You are reusing an API key. If so create a new one.
Your API is limited to an IP address that's not where the bot is connecting from

There's nothing I can do from this end to help. One of these is the issue but there's nothing I can do to correct it. You will know it's correct when it shows your lending balance.

[barcodeguy]

I have been assured via PM that it is now working and have sent replacements credits to the specified address.

It's not connecting to Poloniex. This could be one of the following:

API Key or Secret Are entered wrong
Save not clicked after entering API and Secret
You are reusing an API key. If so create a new one.
Your API is limited to an IP address that's not where the bot is connecting from

There's nothing I can do from this end to help. One of these is the issue but there's nothing I can do to correct it. You will know it's correct when it shows your lending balance.

[cderfv12]

Is it possible to close the current loan if there is a higher rate, if yes how?

[Munson]

Unfortunately, no. It is impossible. Once you set the loan terms, they cannot be changed. The lender may, however, repay the loan at any time.

Think of it like a mortgage. The bank can't cancel your mortgage and take your house if interest rates go up just because they want to make more money.

If your loans are smaller than you'd like, I'd suggest manually overriding. However, your coins will sit on the order book for much longer.

[ccoinca]

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

[brobbel]

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

The rates are even more volatile as bitcoin price itself.

But why isn't this a good investment proposition? It still is better then most alternatives!

[ccoinca]

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

The rates are even more volatile as bitcoin price itself.

But why isn't this a good investment proposition? It still is better then most alternatives!

risk/reward ratio

that is if you are not a long-term holder anyways

[ccoinca]

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

and this 50% haircut is after rates ALREADY had a 50% haircut from rates 3 weeks ago.

someone here has to HAVE AN EXPLANATION for this

rates(should not) drop like this for no reason

[brobbel]

rates drop by 50% overnight WHAT THE HECK

not a very good investment proposition at these rates

and this 50% haircut is after rates ALREADY had a 50% haircut from rates 3 weeks ago.

someone here has to HAVE AN EXPLANATION for this

rates(should not) drop like this for no reason

I know last time there was a big whale ( 5000 BTC or something about that ) incoming for lending. And the more competition....
For this time I don't know.

And there isn't much speculation with bitcoin - if that's changes, rates changes too.

[barcodeguy]

The market as a whole is somewhat down. Take eth for example. It's gone from 0.15 in the last month or so to 0.09 as of this morning, with a volume under 10k. It's the first time I've seen that low a volume on eth for months (It was barely under and may be over that again by now.)

Long story short if supply is high and demand is low the rates go down. In this instance, just based on a quick view of coins on Polo that allow margin trading, it looks to me like demand is very low. With the exception of LTC, which has raised a few points, the rest of the coins on there are red - and have been moving down slowly for the last couple of weeks.

Again, with ETH as an example, I would think that anyone that opened an eth position at 0.1 or higher would have closed that position by now, or at least be thinking about it, returning loads of funds back to the offer book.

I wholeheartedly agree with brobbel in terms speculation on bitcoin. When people are concerned with bitcoin the prices of other alts rise. That rise drives margin trading and ultimately loan rates. Right now it looks like the first part of the NY Agreement is going to happen - we'll likely have segwit turned on -  avoiding a possible UASF split. As that likelihood increases bitcoin looks more attractive, people sell out of alts to get it, and alt prices drop. When the prices drop on alts no one longs them and the BTC lending rates go down while they drop. Ultimately when they appear to bottom traders will start borrowing again to long them and the rates start moving back up.

I'm betting that rates will stay fairly low until part two of NYA hits. The block size increase is going to be a lot more contentious and will likely drive up rates.

[barcodeguy]

I'm pretty sure those bubbles you called are bursting...

As for alts, they sort of ... I got a few which turned out lucky, still holding them because a couple of them I believe can go up in value some more, but if nothing I can cash out now and go buy a small car. Now, don't ask me again, I don't know how, but some of these bubbles are going to burst bad. I also don't know which ones, just, many of them.

[GetFreeCoins]

I liked the interface and "pay yourself" system! Nice and thank you!

[Dabs]

Burst burst... I also have a bunch of other alts, most of them are bursting too, but I'd rather hold onto them than dump. I got them lower than it is bursting now, so no problem for me. And, of course, lending rates already burst.

[Munson]

Never thought I'd be saying it, but lending rates are double on Bitfinex. And they give you both coins back in the event of a hard fork...

[barcodeguy]

I suspect that Bitfinex is going to have higher rates for a while yet. I've always wondered why Polo doesn't allow bitcoin shorts like Bitfinex does. Given the size of the market if Bitcoin could be loaned out for longing alts AND shorting bitcoin I'd think the rates would be phenomenal.

Never thought I'd be saying it, but lending rates are double on Bitfinex. And they give you both coins back in the event of a hard fork...

[ccoinca]

and poloniex rates continue lower

[realcotter]

I like this bot and I've run it with a very small amount and i never got a bite.  So so is there a minimum funds I have to have in my account?

Posted From bitcointalk.org Android App

[barcodeguy]

The minimum amount that poloniex will accept is 0.01.

I like this bot and I've run it with a very small amount and i never got a bite.  So so is there a minimum funds I have to have in my account?

Posted From bitcointalk.org Android App

[guclu]

And they give you both coins back in the event of a hard fork...

And with Poloniex? What happens? 

I know it's a noob question but... brobbel has mentioned he would stop lending by the end of the month to prepare for such a case. I hadn't thought it was THAT serious..!