Topic: about BTCJAM - page 2. (Read 1858 times)
I have only invested in 1 Bad loan. I think a lot of it was Luck. I did my best to try and find out info about people and didn’t go for Crazy APR. There are some who are legit on the site but I have not invested in about 5 months if that tells you anything. I have never taken a loan but I am thinking about trying it but only if it is a descent APR.
NO...
lot of scammers up there, even they are 'verified'
lot of scammers up there, even they are 'verified'
is BTCJAM.com safe enough to invest there ?
how BTCJAM Ensure that the borrowers will return the borrowed money ?
how BTCJAM Ensure that the borrowers will return the borrowed money ?
I'm going to comment if you will be a user. Everything which is invested online is in risk. This is the first rule. Then, contrarily of what I see here, I have read good things about btcjam (as a site). The problem is that they can't have control over the people who need loans. they have a system to do this but it is insufficient. On the other hand it is impossible to know someone through various online data. And at the end no one can predict how can go a investment. No data for this. Lately they have put in use a tool that help to invest and the return if you use this tool is very high (according to them). So, to conclude, you can try if you want to try.
Not recommended at all...default rates are high.
+1 but don't invest at 1 person
I registered (as I do as most sites 
) and was surprised of the level of scrutiny they let new costumers go through. I even was rejected on some submitted documents.
It could be a marketing thing, to appear almost as a bank when I borrow fiat, but when you look at the interest rates it's insane. It's hard to imagine anyone takes a loan and invest them to actually be able to pay for these rates.
) and was surprised of the level of scrutiny they let new costumers go through. I even was rejected on some submitted documents.It could be a marketing thing, to appear almost as a bank when I borrow fiat, but when you look at the interest rates it's insane. It's hard to imagine anyone takes a loan and invest them to actually be able to pay for these rates.
indeed, some of these loans go for thousands of % apr, and its just another incentive for borrowers to just default and take the money. if anything, the high interest rates just bait people in to lend (donate) people money on the site.
I registered (as I do as most sites ) and was surprised of the level of scrutiny they let new costumers go through. I even was rejected on some submitted documents.
It could be a marketing thing, to appear almost as a bank when I borrow fiat, but when you look at the interest rates it's insane. It's hard to imagine anyone takes a loan and invest them to actually be able to pay for these rates.
) and was surprised of the level of scrutiny they let new costumers go through. I even was rejected on some submitted documents.It could be a marketing thing, to appear almost as a bank when I borrow fiat, but when you look at the interest rates it's insane. It's hard to imagine anyone takes a loan and invest them to actually be able to pay for these rates.
You need to look at what you are investing in, most of the stuff there seems insane to me.
The borrowers take the money and buy miners, or invest in some other scam. You take on all the risk of those miners and the scams (because they won't pay you back when those schemes fail) PLUS the risk that they just rip you off if they make money out of the schemes, for less of the possible reward because they loans are designed for them to still make a profit if the scheme goes according to plan.
The borrowers take the money and buy miners, or invest in some other scam. You take on all the risk of those miners and the scams (because they won't pay you back when those schemes fail) PLUS the risk that they just rip you off if they make money out of the schemes, for less of the possible reward because they loans are designed for them to still make a profit if the scheme goes according to plan.
short: no
long: noooooooooo
the defaulting rate is growing, btcjam was bad from the start, and it's even worse now. you could just throw your coins in a bitcoin-double ponzi. same risk, higher reward
long: noooooooooo
the defaulting rate is growing, btcjam was bad from the start, and it's even worse now. you could just throw your coins in a bitcoin-double ponzi. same risk, higher reward
I wouldn't suggest a ponzi either way, but you get the point across. btcjam it's a joke, given that the loans taken out are usually small, and lenders usually only invest a small amount, there is not that much incentive for people to pursue a case.
short: no
long: noooooooooo
the defaulting rate is growing, btcjam was bad from the start, and it's even worse now. you could just throw your coins in a bitcoin-double ponzi. same risk, higher reward
long: noooooooooo
the defaulting rate is growing, btcjam was bad from the start, and it's even worse now. you could just throw your coins in a bitcoin-double ponzi. same risk, higher reward
is BTCJAM.com safe enough to invest there ?
Depends on what do you mean by "safe" because you are not investing into BTCjam but you are "investing" by lending the other people which might default
how BTCJAM Ensure that the borrowers will return the borrowed money ?
BTCjam dont ensure that borrowers will return what they owed you because few months after they default, BTCjam will send you arbitration award which contains the identity of the borrower that he/she had submitted to BTCjam. You will then proceed the legal step by your own admission and funds ( or you can choose to let it go )
for more references : https://bitcointalksearch.org/topic/btcjam-any-thoughts-or-experiances-499995
Not recommended at all...default rates are high.
exactly this, people can get as many fake "references" to make themselves look trustable, but the default rate is definitely over 50%. ive put a few dollars into 2 loans there, both defaulted.
Not recommended at all...default rates are high.
is BTCJAM.com safe enough to invest there ?
how BTCJAM Ensure that the borrowers will return the borrowed money ?
how BTCJAM Ensure that the borrowers will return the borrowed money ?
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