RE: Is Poloniex overloaded again?

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Is Poloniex overloaded again?

in cryptocurrency •  7 years ago  (edited)

DO NOT LOAN OUT YOUR BTC DURING THE FORK, please research, you will not receive any BCC if you have it on loan since you will not be holding the token. You also should not leave BTC on exchanges during the fork (Aug. 1st.)
That's why the interest rate is so high at the moment, nobody will loan.

cryptocurrency
7 years ago by

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      ·  7 years ago 

    Thanks. This is interesting.

    OK, if I am not holding the token but the exchange is (like it is in general for all the coins I hold on exchanges) - why would I not be the owner of my BTC post-fork?

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        ·  7 years ago (edited)

      Please research on that, there are many articles. You need to put your BTC in a wallet where you have a private key. Electrum is good. Trezor hard wallet is best, but to late now. Coinbase announced that they will not support BCC and I don't think Polo will. However, if you loan your BTC to me, I am the one who is holding it at the time of the fork, therefore I will receive the BCC, keep it and then give you your BTC with interest back. The BCC can be imported to the account that holds BTC, no matter who owns it.

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        ·  7 years ago 

      Thanks, I will.

      The scenario you are describing has me getting back all my BTC with interest. Which is exactly what I would expect loaning my BTC to you.

      Doesn't looks like a problem scenario to me.

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