Get an affordable loantoday!Follow a few steps and get your first loan!Join the thousands of borrowers around the world!Learn more > 0 0 $0 0 How does it work?Apply for a loan Your loan is being funded Grow your business!Warning: Do Not Lend On Poloniex (self.Bitcoin)submitted by This is a must read for bitcoin users.Poloniex allows you to lend bitcoins to others trading on margin.In theory, Poloniex will try to protect you from losses by forcing a person to liquidate if they're taking a beating.This is not true.I've tested lending one bitcoin over the last two weeks.That one bitcoin has gone from one bitcoin to .81 bitcoins now.That's a two week loss of 0.19 bitcoins.If I kept lending for a full year, I would have 0 remaining of the bitcoin at that rate.Interest rates must reflect the risk associated with lending and Poloniex's users don't seem to get this.In addition, due to these losses and how quickly they've piled up, Poloniex needs to re-evaluate cutting a margin traders losses much earlier.

Make no mistake: Poloniex still gets their fee, while I got the loss.It was a good experiment, but DO NOT lend bitcoins on Poloniex.The interest rates do not reflect the risk.In order to offset losses, interest rates should be over 150%.Spread this to anyone considering lending their bitcoins - they will lose in time.Guys, the purpose of this is to warn new people who make think that lending on Poloniex is 100% safe.Based on my experience, it's not.Whether you agree or disagree, I think we all agree that if we have a bad experience we should caution new users on this.I don't want new people to lose bitcoins, like I did, when they think something is guaranteed, but it's not.Also, this is not FUD because this says nothing about the value of bitcoin; this is about Poloniex.Stop with the "this is a FUD post" - no it's not a FUD post because bitcoin is strong and awesome.π Rendered by PID 13816 on app-399 at 2017-06-24 11:23:08.388829+00:00 running 3522178 country code: SG.Transfer money worldwide instantly and securely.

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Welcome to the BTCJam blog!We are always thinking about ways to provide information to help you make better decisions about your investment.We will be publishing a variety of information to share what’s on our minds with you and, of course we would love to know what’s on yours!We would like to disclaim that we are not claiming to be experts on the topics discussed here, but we would like to open the channel to have relevant and, hopefully, intelligent discussions.bitcoin cincinnatiAlso, if you are an expert on the topic discussed, please help us out by enriching the conversation!asic to litecoinThat said, the topic of the day is currency risk.Even though Bitcoin is a worldwide non-centralized currency, most of us still make a living earning regular (government/central bank issued) currencies, such as dollars, euros, rupees, etc… Hence, currency risk is something that is still on our minds (we say still in hopes that this problem will be in the past soon!).

As most of you know, at BTCJam you can index your loan in USD, EUR, CAD or RUB (as of yet!), using bitcoins as a payment method; avoiding the bitcoin currency risk and that’s when the “regular” currency risk kicks in.Meaning: if you are applying for a loan and you want to index your payment in USD dollars, and your earnings are in another currency, you must take into account the risk of exchanging one currency to another.The market uses hedging tools to avoid currency risk exposure, and we hope to offer hedging options to you very soon; however we still don’t.Hence, we believe that providing information on how currencies have been behaving could be useful.At least statistically, you can calculate the probability of your currency varying against the US dollar and incorporate that percentage into your payout offer.We created an excel sheet (download it here) with the currencies most used in our platform (BRL, EUR, GPB, CAD and RUB) and their accumulated two month variation against the US dollar (we use two months because it’s the average loan term at BTCJam).