Bitcoin Forum
February 22, 2018, 07:35:00 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
  Print  
Author Topic: Lending Pool Auction Experiment  (Read 8122 times)
mndrix
Michael Hendricks
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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.
1519284900
Hero Member
*
Offline Offline

Posts: 1519284900

View Profile Personal Message (Offline)

Ignore
1519284900
Reply with quote  #2

1519284900
Report to moderator
Automated Bitcoin Fork Extraction Tool WE DO TOUGH WALLETS: BCH | BTG | BCD | SBTC | UBTC | B2X | BCX | BTF Electrum 2FA, Trezor, Ledger, SegWit, Bech32
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1519284900
Hero Member
*
Offline Offline

Posts: 1519284900

View Profile Personal Message (Offline)

Ignore
1519284900
Reply with quote  #2

1519284900
Report to moderator
1519284900
Hero Member
*
Offline Offline

Posts: 1519284900

View Profile Personal Message (Offline)

Ignore
1519284900
Reply with quote  #2

1519284900
Report to moderator
FooDSt4mP
Full Member
***
Offline Offline

Activity: 182
Merit: 100


View Profile
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.
Fiyasko
Legendary
*
Offline Offline

Activity: 1428
Merit: 1000


Okey Dokey Lokey


View Profile
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
Michael Hendricks
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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.
fornit
Hero Member
*****
Offline Offline

Activity: 989
Merit: 1000


View Profile
April 15, 2011, 07:55:49 PM
 #45

looks good to me.

mndrix
Michael Hendricks
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
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
8668
Member
**
Offline Offline

Activity: 102
Merit: 10



View Profile WWW
April 16, 2011, 12:24:27 AM
 #48

Coins have been returned, as expected.
SteveB
Full Member
***
Offline Offline

Activity: 170
Merit: 100


View Profile
April 16, 2011, 12:29:54 AM
 #49

I got my coins back too.
Anonymous
Guest

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
Donator
Legendary
*
Offline Offline

Activity: 2030
Merit: 1000



View Profile WWW
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
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
April 22, 2011, 10:27:25 PM
 #53

Are we gonna have more auctions like this?
mndrix
Michael Hendricks
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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
Donator
Legendary
*
Offline Offline

Activity: 2030
Merit: 1000



View Profile WWW
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
Michael Hendricks
VIP
Sr. Member
*
Offline Offline

Activity: 447
Merit: 250


View Profile
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
mpkomara
Full Member
***
Offline Offline

Activity: 182
Merit: 100



View Profile
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.
fornit
Hero Member
*****
Offline Offline

Activity: 989
Merit: 1000


View Profile
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

Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!