Polobot.net lending service (free & premium memberships)

[maxpowerzz92]

I can't believe how fast rates dropped from 5% to less than 0.2% on Poloniex after the hard fork.  I've been using this service for a month now, and it's been great so far.

The same amount of BTC was available for lending before the hardfork, but rates were almost 10x what they are now.

[1714802631]

1714802631

[mrcash02]

Yes, because we were on the imminence of a HardFork and the number of lend offers decreased, making the demand higher than supply, so the rates were very good for lenders. I think it decreased because people moved their funds to wallet or because the Bitcoins being lent wouldn't be credited with extra BCCs. I read something about it on that time.

[maxpowerzz92]

Yes, because we were on the imminence of a HardFork and the number of lend offers decreased, making the demand higher than supply, so the rates were very good for lenders. I think it decreased because people moved their funds to wallet or because the Bitcoins being lent wouldn't be credited with extra BCCs. I read something about it on that time.

That's true.  The hardfork created unusually high rates which was nice for lenders.  Even a month before the hardfork though, the rates were still alot higher than now.

http://www.polobot.net/ratehistory

[crazyivan]

Op, did you really expect 5% per day rates or even 1% per day rate to last?

Why?

How?

What kind of return should margin lander get in order for these rates to be sustainable? Please control your greed my friend, you cannot spend the rest of your life on the beach just by lending via Polo. 
I should know, I ve tried. 

[mobnepal]

Many have already left poloniex due to recent issues they are having with withdrawals including me. I can't risk my bitcoin there for 0.0122% daily return which is just less than pennies compared to possible risk of losing all of our deposits there.

I would rather invest my bitcoin in some ICO or in other alts because I can earn way more than what I could from those shit interest rates on polo.  

[maxpowerzz92]

Yeah that's the problem with Poloniex's auto renewal function.  Rates will go up, but the auto renew is well below the asking rate.  I was in disbelief at all the auto renews less than 0.1% during the hardfork when they could've made MUCH MUCH more.  They lost a potential 20x profit because of that.

I still have 2-4% interest loans still running on Polo that I wouldn't have gotten normally, and have Polobot to thank for that.

[swogerino]

Rates maybe are down a lot now because of the new terms and conditions of Poloniex made public only a few days ago. This has caused chaos and many people have moved away from this exchange. This is why the new rates are down and I don't think they will go up in the short time. Poloniex lending service is good but there are some defaulters there so I don't think it's a good business the lending area. Trading remains always a favorite.