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Author Topic: Lending Pool Auction Experiment  (Read 7610 times)
mndrix
Michael Hendricks
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April 15, 2011, 03:20:17 PM
 #41

I would like to Borrow 50ß from Ryepdx

JackRabiit, with this experiment, you borrow from the pool at large and not from an individual participant.  See Holy-Fire's post above for an example of how to make a bid to borrow from the pool.  You do meet the borrower qualifications, so if you post your bid before the cutoff today, I'll enter you in the auction.


i wish to lend 100 btc for 104btc in return.
return address is 17QGrpWtkoEmKQ4SKZ1YrBtHTSbPKtS7sm

fornit, please send funds to 1Z5x6h4UGx5HdMhxhUvJZMhQsxzGc9DNE


I wish to borrow 20btc and will pay back at least 21btc
Funds should be sent to this address 149dqpBxwVafaRpoGsy9LoqENenJxf3vcq

noagendamarket, I've entered your bid in the spreadsheet.

I wish to borrow 100 BTC and pay back up to 104 BTC.
Funds should be sent to this address: 1MkaaRUM8hd68Q8E5yLBhwsWztjXFhFd6

0x6763, I've entered your bid in the spreadsheet

I wish to lend 5 BTC for 6 BTC or more in return.
My return address is 1PQHsVxLPewxavMsgJXs28wnYY2DH7MqCR

8668, please send funds to 12k9UctLRVBvWFuwTE7szVqMDvFdiqQHLh


Remember that the auction closes today at 18:00 UTC.  I'll handle final bids, announce winners and distribute funds within a couple hours after that.
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FooDSt4mP
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April 15, 2011, 03:45:39 PM
 #42

I wish to lend 100 BTC and receive at least 103 BTC in return.
Payment/Return of funds: 14oEq2DZwPThsfk99wGfSMCuGgeMkL1PFW

yrral86, please send funds to 16E8oTDkTPgpfBDvNYX7iFpdTBKrE4WDqS

100BTC sent:
http://blockexplorer.com/address/16E8oTDkTPgpfBDvNYX7iFpdTBKrE4WDqS

As we slide down the banister of life, this is just another splinter in our ass.
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April 15, 2011, 04:38:11 PM
 #43

I would like to Borrow 50ß from Ryepdx

JackRabiit, with this experiment, you borrow from the pool at large and not from an individual participant.  See Holy-Fire's post above for an example of how to make a bid to borrow from the pool.  You do meet the borrower qualifications, so if you post your bid before the cutoff today, I'll enter you in the auction.


i wish to lend 100 btc for 104btc in return.
return address is 17QGrpWtkoEmKQ4SKZ1YrBtHTSbPKtS7sm

fornit, please send funds to 1Z5x6h4UGx5HdMhxhUvJZMhQsxzGc9DNE


I wish to borrow 20btc and will pay back at least 21btc
Funds should be sent to this address 149dqpBxwVafaRpoGsy9LoqENenJxf3vcq

noagendamarket, I've entered your bid in the spreadsheet.

I wish to borrow 100 BTC and pay back up to 104 BTC.
Funds should be sent to this address: 1MkaaRUM8hd68Q8E5yLBhwsWztjXFhFd6

0x6763, I've entered your bid in the spreadsheet

I wish to lend 5 BTC for 6 BTC or more in return.
My return address is 1PQHsVxLPewxavMsgJXs28wnYY2DH7MqCR

8668, please send funds to 12k9UctLRVBvWFuwTE7szVqMDvFdiqQHLh


Remember that the auction closes today at 18:00 UTC.  I'll handle final bids, announce winners and distribute funds within a couple hours after that.

I would like to retract my loan request, I am unable to repay as fast as desired

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
mndrix
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April 15, 2011, 07:26:00 PM
 #44

The auction has closed.

The following lenders sent no funds, so their bids were removed:
  • ryepdx
  • bitjet

By my calculation, the market clearing rate is 107.14%.  The following lenders win:
  • yrral86
  • mndrix
  • fornit
  • mpkomara

The following borrowers win:
  • mndrix - 20 BTC (must repay 20.83)
  • Holy-Fire - 200 BTC (must repay 208.34)
  • noagendamarket - 20 BTC (must repay 20.83)

I will return funds to the following lenders who had failed bids:
  • SteveB - 20 BTC
  • mewantsbitcoins - 20 BTC
  • noagendamarket - 20 BTC
  • JA37 - 10 BTC
  • 8668 - 5 BTC

After distributions to borrowers, there are 106 BTC left in the pool that was not lent out.  This balance is returned to the winning lenders immediately as follows:
  • yrral86 - 30.41 BTC
  • mndrix - 15.35 BTC
  • fornit - 30.71 BTC
  • mpkomara - 29.53

I'll postpone distributions for an hour or two so that others can check my calculations.  When calculating the market clearing rate, I assumed that borrowers required their entire loan to be filled but that lenders would accept partial fulfillment.  I realize now that I didn't state this in the OP.
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April 15, 2011, 07:55:49 PM
 #45

looks good to me.

mndrix
Michael Hendricks
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April 15, 2011, 09:10:38 PM
 #46

I've distributed all funds from the lending pool.  Borrowers, your repayment addresses are below.

mndrix - 20 BTC (must repay 20.83)

Repay to 1M55AFnapLso1ZsC8gxWDxuasZ8ZL2bpVu

Quote
Holy-Fire - 200 BTC (must repay 208.34)

Repay to 1CgdhHrDSiBXDsGRrAQx6WJgUak46MD1nG

Quote
noagendamarket - 20 BTC (must repay 20.83)

Repay to 1JeJ4GVDsmGvUh1JapUFXqAsGkcx7Wrbhx
JA37
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April 15, 2011, 10:58:54 PM
 #47

Got my coins back.
Thanks for letting me play, albeit not winning.

Ponzi me: http://fxnet.bitlex.org/?ref=588
Thanks to the anonymous person who doubled my BTC wealth by sending 0.02 BTC to: 1BSGbFq4G8r3uckpdeQMhP55ScCJwbvNnG
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April 16, 2011, 12:24:27 AM
 #48

Coins have been returned, as expected.
SteveB
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April 16, 2011, 12:29:54 AM
 #49

I got my coins back too.
Anonymous
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April 16, 2011, 02:12:33 AM
 #50

Got coins back and paid 20.83

 Smiley

Next round Im lending 20 and want 21 back lol

Meni Rosenfeld
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April 16, 2011, 05:02:09 PM
 #51

When calculating the market clearing rate, I assumed that borrowers required their entire loan to be filled but that lenders would accept partial fulfillment.  I realize now that I didn't state this in the OP.
I'm a borrower and would have accepted partial fulfillment if that was all that was possible. Next time you should probably prompt people to specify their policy on that.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
mndrix
Michael Hendricks
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April 22, 2011, 09:39:37 PM
 #52

Just a reminder that loans from the pool must be paid by Friday, April 29th at 1800 UTC.  I'm sure all loans will be repaid, but a reminder never hurts Smiley
mewantsbitcoins
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April 22, 2011, 10:27:25 PM
 #53

Are we gonna have more auctions like this?
mndrix
Michael Hendricks
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April 23, 2011, 03:57:44 AM
 #54

Are we gonna have more auctions like this?

I won't be running any more auctions like it.  It was just an experiment for me.  However, I think the experiment shows that someone could run a nicely automated system for weekly lending pool auctions.  I'd love to do it, but it's almost certainly illegal in my jurisdiction (USA), so I won't touch it.  Hopefully someone in a less restrictive country will take up the cause.
Meni Rosenfeld
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April 26, 2011, 10:14:07 AM
 #55

Quote
Holy-Fire - 200 BTC (must repay 208.34)
Repay to 1CgdhHrDSiBXDsGRrAQx6WJgUak46MD1nG
Repaid.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
mndrix
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April 26, 2011, 09:46:45 PM
 #56

All loans have been repaid in full.

The following funds have been returned to lenders at their stated receiving addresses:
  • yrral86 - 71.73 BTC
  • mndrix - 36.21 BTC
  • fornit - 72.42 BTC
  • mpkomara - 69.64 BTC

I've left positive feedback in the list of honest traders and rated both Holy-Fire and noagendamarket in OTC.

Thank you to all who participated
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April 27, 2011, 05:03:24 AM
 #57

mndrix --

this went extremely smoothly.  I would pay a small clearing fee to participate in another one of your lending pools if you ever get the courage to run a new one.
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April 27, 2011, 02:49:53 PM
 #58

mndrix --

this went extremely smoothly.  I would pay a small clearing fee to participate in another one of your lending pools if you ever get the courage to run a new one.

#2

very good job, mndrix  Smiley

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