about BTCJAM | Bitcointalksearch.org

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: favdesu on August 13, 2015, 02:22:32 AM

Quote from: ranlo on August 12, 2015, 10:52:22 PM

Quote from: favdesu on August 12, 2015, 06:30:07 AM

Quote from: ranlo on August 12, 2015, 04:03:43 AM

Quote from: favdesu on August 12, 2015, 01:43:17 AM

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

lost 1 bitcoin there some time in the past and I'm only reading horror stories of their non-existent service. btcjam only cares about fees, they literally do nothing to help a lender

Did you only loan to A-rated people or also B->F? This makes a huge difference.

are you aware that there are people selling A+ accounts? you just can't trust anyone on btcjam in my opinion

Ah, I wasn't. This would mean that people are basically selling their identity... that seems like a very risky transaction to me. It's not nearly as anonymous as a BCT account would be.

favdesu

legendary

Activity: 1764

Merit: 1000

Quote from: ranlo on August 12, 2015, 10:52:22 PM

Quote from: favdesu on August 12, 2015, 06:30:07 AM

Quote from: ranlo on August 12, 2015, 04:03:43 AM

Quote from: favdesu on August 12, 2015, 01:43:17 AM

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

lost 1 bitcoin there some time in the past and I'm only reading horror stories of their non-existent service. btcjam only cares about fees, they literally do nothing to help a lender

Did you only loan to A-rated people or also B->F? This makes a huge difference.

are you aware that there are people selling A+ accounts? you just can't trust anyone on btcjam in my opinion

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: favdesu on August 12, 2015, 06:30:07 AM

Quote from: ranlo on August 12, 2015, 04:03:43 AM

Quote from: favdesu on August 12, 2015, 01:43:17 AM

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

lost 1 bitcoin there some time in the past and I'm only reading horror stories of their non-existent service. btcjam only cares about fees, they literally do nothing to help a lender

Did you only loan to A-rated people or also B->F? This makes a huge difference.

altcoinhosting

hero member

Activity: 896

Merit: 1006

Quote from: arallmuus on August 12, 2015, 05:42:52 AM

Quote from: altcoinhosting on August 12, 2015, 04:17:04 AM

But i hope the people i gave a loan to won't run either, since btcjam has their identity, paypal, income and social network verified + they have a proven loan record...

You are pretty much wrong with this. Giving a loan to an A+ rated borrower with a good track record isnt simply a guarantee that they might not default the loan . There has been lot of highly rated borrower that actually defaulted despite that they have submitted their real identity.
As a matter of facts, they got almost nothing to lose by defaulting this because in the end you will be given their identity that has been submitted but you will need to pursue the defaulter with your own cost which could cost more than what you have loaned therefore these scammers easily slip away by defaulting

Chances are pretty big you're right... I just hope you're not Wink

favdesu

legendary

Activity: 1764

Merit: 1000

Quote from: ranlo on August 12, 2015, 04:03:43 AM

Quote from: favdesu on August 12, 2015, 01:43:17 AM

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

lost 1 bitcoin there some time in the past and I'm only reading horror stories of their non-existent service. btcjam only cares about fees, they literally do nothing to help a lender

IanFoxley

legendary

Activity: 910

Merit: 1000

Thanks for this thread guys, was useful for me!

Was going to invest but after reading the posts.....No Way now.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: altcoinhosting on August 12, 2015, 04:17:04 AM

But i hope the people i gave a loan to won't run either, since btcjam has their identity, paypal, income and social network verified + they have a proven loan record...

You are pretty much wrong with this. Giving a loan to an A+ rated borrower with a good track record isnt simply a guarantee that they might not default the loan . There has been lot of highly rated borrower that actually defaulted despite that they have submitted their real identity.
As a matter of facts, they got almost nothing to lose by defaulting this because in the end you will be given their identity that has been submitted but you will need to pursue the defaulter with your own cost which could cost more than what you have loaned therefore these scammers easily slip away by defaulting

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: altcoinhosting on August 12, 2015, 04:17:04 AM

Quote from: ranlo on August 12, 2015, 04:03:43 AM

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

That's what i tought to...
Personally, i don't think i would ever run with somebody else's money... But i hope the people i gave a loan to won't run either, since btcjam has their identity, paypal, income and social network verified + they have a proven loan record...

Fingers crossed...

It's sad how many people WILL, though. To me, it's not even a thought. If someone entrusted $100 bil to me, I wouldn't touch any of it unless they gave permission. Money can't buy my integrity, regardless of the amount. I'd live poor before I lived a rich life because of stealing.

But a lot of people are the opposite. Some people on these forums have thrown away their reputation for under a dollar. I just can't even fathom what's going through their minds.

altcoinhosting

hero member

Activity: 896

Merit: 1006

Quote from: ranlo on August 12, 2015, 04:03:43 AM

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

That's what i tought to...
Personally, i don't think i would ever run with somebody else's money... But i hope the people i gave a loan to won't run either, since btcjam has their identity, paypal, income and social network verified + they have a proven loan record...

Fingers crossed...

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: favdesu on August 12, 2015, 01:43:17 AM

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

According to their stat page, it looks like A-rated borrowers are pretty solid on repayments. Do you actually have experience with loaning on there? I know going with A-rated people is a much lower interest rate, but if it's like it looks, that's a great way to minimize risk and still get return.

altcoinhosting

hero member

Activity: 896

Merit: 1006

i'm trying them out with 0.05BTC right now... Invested in two loans, 0.025BTC each... I chose 2 loaners with an A-rating, and a track record of payed back loans...

I have to say it feels a lot less safe than loaning out BTC on this forum... At least on this forum, i can make sure i have some form of actual collateral in my hands before i send off my BTC...

You'll probably see me in the scam accusation forum in a couple of months making accusations about btcjam members Wink

favdesu

legendary

Activity: 1764

Merit: 1000

Quote from: alesx.onfire on August 10, 2015, 12:57:08 PM

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

btcjam was always full of scammers, it's just getting worse now. it's just too easy to scam there, I don't recommend them.

alesx.onfire

hero member

Activity: 966

Merit: 1000

It's Not Enough

btcjam now it's infested of scammers, just check the "scam-accusation" page here, in the forum.

Rude Boy

hero member

Activity: 770

Merit: 500

Highly Not Recommended.
BTCjam is the biggest playground of scammers. I just wanted to know that how btcjam was working, so i just invested 0.005BTC and loaned few peoples, they just defaulted.

~Rude Boy Kiss

Proxiebuier

sr. member

Activity: 364

Merit: 250

Quote from: ranlo on August 10, 2015, 12:09:02 AM

Quote from: Proxiebuier on August 08, 2015, 05:21:03 AM

Quote from: ranlo on August 07, 2015, 11:59:32 PM

Quote from: Proxiebuier on July 20, 2015, 04:32:08 AM

Quote from: Blazed on July 18, 2015, 08:29:48 PM

Not recommended at all...default rates are high.

+1
but don't invest at 1 person

This cannot be stressed enough. You have to spread your risk out across many people, with the goal being to profit in the long-run. It's the same thing credit card companies do (they have a high default rate, 20-30% IIRC) but make it up on those that do pay. You should never base your progress on one loan, but rather a LOT. At least 20, if not more.

like your invest at bit-X
you should NOT invest the entire bitcoin What you Have in bit - x
You can invest in some well-known sites such as hashnet And haobtc
ALSO invests in some sites such ponzi scrypt cc ' '
IF One of that dead, you still have bitcoin at Other Places

Very true! And just saw your avatar... I didn't realize Coinchat came back to life. Who runs it now?

you can join it at here
https://bitcointalksearch.org/topic/m.12084411

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: Proxiebuier on August 08, 2015, 05:21:03 AM

Quote from: ranlo on August 07, 2015, 11:59:32 PM

Quote from: Proxiebuier on July 20, 2015, 04:32:08 AM

Quote from: Blazed on July 18, 2015, 08:29:48 PM

Not recommended at all...default rates are high.

+1
but don't invest at 1 person

This cannot be stressed enough. You have to spread your risk out across many people, with the goal being to profit in the long-run. It's the same thing credit card companies do (they have a high default rate, 20-30% IIRC) but make it up on those that do pay. You should never base your progress on one loan, but rather a LOT. At least 20, if not more.

like your invest at bit-X
you should NOT invest the entire bitcoin What you Have in bit - x
You can invest in some well-known sites such as hashnet And haobtc
ALSO invests in some sites such ponzi scrypt cc ' '
IF One of that dead, you still have bitcoin at Other Places

Very true! And just saw your avatar... I didn't realize Coinchat came back to life. Who runs it now?

Proxiebuier

sr. member

Activity: 364

Merit: 250

Quote from: ranlo on August 07, 2015, 11:59:32 PM

Quote from: Proxiebuier on July 20, 2015, 04:32:08 AM

Quote from: Blazed on July 18, 2015, 08:29:48 PM

Not recommended at all...default rates are high.

+1
but don't invest at 1 person

This cannot be stressed enough. You have to spread your risk out across many people, with the goal being to profit in the long-run. It's the same thing credit card companies do (they have a high default rate, 20-30% IIRC) but make it up on those that do pay. You should never base your progress on one loan, but rather a LOT. At least 20, if not more.

like your invest at bit-X
you should NOT invest the entire bitcoin What you Have in bit - x
You can invest in some well-known sites such as hashnet And haobtc
ALSO invests in some sites such ponzi scrypt cc ' '
IF One of that dead, you still have bitcoin at Other Places

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: Proxiebuier on July 20, 2015, 04:32:08 AM

Quote from: Blazed on July 18, 2015, 08:29:48 PM

Not recommended at all...default rates are high.

+1
but don't invest at 1 person

This cannot be stressed enough. You have to spread your risk out across many people, with the goal being to profit in the long-run. It's the same thing credit card companies do (they have a high default rate, 20-30% IIRC) but make it up on those that do pay. You should never base your progress on one loan, but rather a LOT. At least 20, if not more.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: frodoe7 on July 18, 2015, 07:26:37 PM

is BTCJAM.com safe enough to invest there ?

Depends on who you choose to invest with, but even a proven track record doesn't mean that they will pay back the next loan.

Quote from: frodoe7 on July 18, 2015, 07:26:37 PM

how BTCJAM Ensure that the borrowers will return the borrowed money ?

That's your task as an investor, I think. But I do wonder myself if there have been cases where people have sent in fake identification and Bitjam didn't catch it.

tom14cat14

hero member

Activity: 826

Merit: 500

Quote from: ?? on ??

I've heard from some that is not safe and from others that its safe so you should be careful

If anyone says it is safe they are not telling the truth. There are two types of investors on there. Those who have been scammed and those who will be scammed. You can limit your risk and come out ahead but you will lose on some if you invest long enough.

Topic: about BTCJAM (Read 1825 times)