[ANN] BTCJam - Peer to Peer Bitcoin Lending - page 14.

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: CoinPro* on January 06, 2016, 11:37:52 AM

Quote from: ?? on ??

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

If you can not verify income, you can not start a loan at all. So your best bet is to have them pre-qualify your income documents before you waste your time with all of the other verifications. Check out my posts about "income verification". I have tried unsuccessfully for about a year now (37 pages of documents total to this date). Income that is very easily verified BTW, with bank stamp, and manager business card. If they actually do verify your income, I would be amazed, and please come back here and tell us what documents you uploaded that were successful.

Can I ask you one question? Why? Why on earth would you waste your life on a shit site like this, and spend that much time for nothing, not to mention giving them your entire identity? THe only reason I can see anyone doing this is to run a scam. Otherwise, go to the bank, you can probably get a fiat loan much easier, and much safer. Tongue

CoinPro*

newbie

Activity: 36

Merit: 0

Quote from: ?? on ??

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

If you can not verify income, you can not start a loan at all. So your best bet is to have them pre-qualify your income documents before you waste your time with all of the other verifications. Check out my posts about "income verification". I have tried unsuccessfully for about a year now (37 pages of documents total to this date). Income that is very easily verified BTW, with bank stamp, and manager business card. If they actually do verify your income, I would be amazed, and please come back here and tell us what documents you uploaded that were successful.

cancerbola

hero member

Activity: 560

Merit: 501

Supermutated Virulent Microbial Strain

Quote from: pinoycash on January 05, 2016, 10:02:19 PM

what will you do in case of default payment? are you gonna enforce the full arm of the law? or just post it on your scammer list? so investing here is not safe?

Well, the loaners don't supply a collateral when they apply for a loan, so there is nothing the lenders can do in terms of money when loaners scam. It's gone!
(IDK about the legal consequences BTCJam takes when a user scams though, I don't use it).
But generally, you are better off lending your bitcoins in the lending section where you enforce loaners to supply collateral in the circumstance that the loaner defaults.
(Or lend to reputable loaners who have loaned multiple times and paid back on every single one of them on time, though that won't enforce the user to pay back on the next one)

One thing that BTCJam should really do is to enforce loaners to supply collateral.

pinoycash

hero member

Activity: 1316

Merit: 514

what will you do in case of default payment? are you gonna enforce the full arm of the law? or just post it on your scammer list? so investing here is not safe?

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: sishendaoye on January 05, 2016, 04:12:40 PM

Quote from: ?? on ??

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

Yes, do you find that weird?
Why would anybody lend you money if you are an anonymous person who can run away.
Having a team of employees checking and verifying you, gives me trust to lend you some money/btc.

Funny how that really doesn't work all that well though, does it?. If it did, I wouldn't be in the hole on that site. Besides, what's to stop people from creating a fake person and buying fake docs on the darknet, or just using someone else's information? Tongue

sishendaoye

sr. member

Activity: 434

Merit: 250

Quote from: ?? on ??

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

Yes, do you find that weird?
Why would anybody lend you money if you are an anonymous person who can run away.
Having a team of employees checking and verifying you, gives me trust to lend you some money/btc.

Kanati

member

Activity: 93

Merit: 12

Quote from: owlcatz on December 22, 2015, 12:43:10 PM

Quote from: Lies on December 22, 2015, 12:07:00 PM

Investors,
Consider joining [spam link removed]
Investor forum for users of peer to peer BTC lending websites on the Internet.
Focus is on sharing experience, promoting safe investment practice, and working together to recover bad loans and expose scammers.

You're joking right? I wouldn't touch btcjam and you are asking people to sign up on a site that looks like a 10 year old created it in MS FrontPage 20 years ago? Uh... Nah. Roll Eyes

I signed up and learned a lot from it. But then again I'm not an art critic Tongue

Lies

jr. member

Activity: 56

Merit: 3

Quote from: owlcatz on December 22, 2015, 12:43:10 PM

Quote from: Lies on December 22, 2015, 12:07:00 PM

Investors,
Consider joining [spam link removed]
Investor forum for users of peer to peer BTC lending websites on the Internet.
Focus is on sharing experience, promoting safe investment practice, and working together to recover bad loans and expose scammers.

You're joking right? I wouldn't touch btcjam and you are asking people to sign up on a site that looks like a 10 year old created it in MS FrontPage 20 years ago? Uh... Nah. Roll Eyes

I adjusted my salutation in my original post.

Quote

~~Investors,~~ People who have invested in BTCJam and are tired of scammers,

Some of us who are tired of scammer that are able to get loans funded and never repay. So, this group is not for just wining about it, like most do here. It is for exposing the scammers and looking for ways to make them repay their depts. As a group we can achieve more then an indivuals to make claims.

https://www.seen.is/ doesn't look 1995/2005 to me. And yes, I do remember Frontpage and Netscape days.

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: Lies on December 22, 2015, 12:07:00 PM

Investors,
Consider joining [spam link removed]
Investor forum for users of peer to peer BTC lending websites on the Internet.
Focus is on sharing experience, promoting safe investment practice, and working together to recover bad loans and expose scammers.

You're joking right? I wouldn't touch btcjam and you are asking people to sign up on a site that looks like a 10 year old created it in MS FrontPage 20 years ago? Uh... Nah. Roll Eyes

Lies

jr. member

Activity: 56

Merit: 3

~~Investors,~~ People who have invested in BTCJam and are tired of scammers,
Consider joining https://www.seen.is/group/8437
Investor forum for users of peer to peer BTC lending websites on the Internet.
Focus is on sharing experience, promoting safe investment practice, and working together to recover bad loans and expose scammers.

sbtctalk

sr. member

Activity: 266

Merit: 250

The btc lending system is going to take a blowback. The last i checked, there was only less than 10 A+ rating lenders.

CoinPro*

newbie

Activity: 36

Merit: 0

Quote from: Google+ on December 13, 2015, 02:36:21 AM

Quote from: sbtctalk on December 13, 2015, 02:24:28 AM

Overall sentiments for btcjam isnt positive especially for lenders. The lenders have nothing to lose.

why do you say that ? are you member BTCjam ?
BTCjam users continues to decline can be seen from several lists of borrowers only 24 loan now
years ago when I joined there were a lot of borrowing in BTCjam more than 100 borrowers
but now more and more investors than borrowers. borrowers think the fee is too high and interest repayment so they turn to borrow from other sites

I noticed the same thing when I browsed listings last night. I was trying to see if they have blocked all people without income verification from creating new loans. The answer is, yes. Not a single loan active where people don't have income verified. BTCjam never made a public announcement about this policy change (that I know of, or can find). They were probably so sick of people complaining that there are so many defaulters, that they went to extremes with who they are allowing to create loans. I think that decision is really going to kill the user base. For example: Why would they want to lose me as a borrower, when I have over 117 BTC paid back (13 loans), all on time or early? Huh

If they are trying to average out the defaulters, why get rid of the A credit rating members? I would never invest in someone with a D/C rating just because they have "income verified". That income verified might only be $20 a week Tongue

. Even if the income is verified for a good amount, it still will never prevent something like this -> https://www.lauren-kimberley-churms.com/

CoinPro*

newbie

Activity: 36

Merit: 0

Quote from: Bitcoin-Corporation.com on October 27, 2015, 12:05:11 AM

We even submitted our Bank Statement from a lawful F.D.I.C. insured Bank, along with it's Telephone Number.
They rejected the Document as "This document does not meet the required type". We asked how the Document did not meet "the required type, and they never replied.

Having the exact same problem. Check out my profile/posts on this topic. Sent in 3 months of statements with a bank managers business card, just in case they needed to call to verify. I have even offered to have a live Skype session with screen share turned on, log into all of my accounts (Bank, PayPal, eBay, etc) while in session, to show guaranteed source of income and sales. They never took me up on that offer, which is strange, because it would GUARANTEE proof of income.

They also turned down my year 2014 1099 form, which is an official U.S. tax document. Verifiable, because it is submitted to the IRS, and/or they could just cross-reference sales history/numbers with PayPal account on file with them. Unfortunately, that one got returned as "not the required type" also. Even though that is exactly what they ask for. Huh

sbtctalk

sr. member

Activity: 266

Merit: 250

Quote from: Google+ on December 13, 2015, 02:36:21 AM

Quote from: sbtctalk on December 13, 2015, 02:24:28 AM

Overall sentiments for btcjam isnt positive especially for lenders. The lenders have nothing to lose.

why do you say that ? are you member BTCjam ?
BTCjam users continues to decline can be seen from several lists of borrowers only 24 loan now
years ago when I joined there were a lot of borrowing in BTCjam more than 100 borrowers
but now more and more investors than borrowers. borrowers think the fee is too high and interest repayment so they turn to borrow from other sites

I have been reading various btc boards and there are compilations of btcjam scammers. Might not be the best way forward for btcjam.

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

Quote from: sbtctalk on December 13, 2015, 02:24:28 AM

Overall sentiments for btcjam isnt positive especially for lenders. The lenders have nothing to lose.

why do you say that ? are you member BTCjam ?
BTCjam users continues to decline can be seen from several lists of borrowers only 24 loan now
years ago when I joined there were a lot of borrowing in BTCjam more than 100 borrowers
but now more and more investors than borrowers. borrowers think the fee is too high and interest repayment so they turn to borrow from other sites

sbtctalk

sr. member

Activity: 266

Merit: 250

Overall sentiments for btcjam isnt positive especially for lenders. The lenders have nothing to lose.

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

Quote from: MadeinCoin on December 06, 2015, 01:58:56 AM

Quote from: BTC LOVER on December 06, 2015, 01:43:42 AM

Serioulsly Guys i simply gettin paid from several Users, but from several Users not.

So iam invested 1 BTC at all. No i got Back about an half and the rest is still pending after 2 Month. The loans where somewhere at 1 - 6 Months.
A lot of People are not Paying and so its missing 0.2 BTc by itself..

Anyways whats your s yus?

regards
lama-hunter

they are instructed that you invest in a variety of loan offer to reduce the risk of losing your money but the loss still occurs, even the members with a rating score of A ++ does not pay the loan now I decided to never invest my money in BTCjam

That happened to me in LoanBase too. You can't just loan people without collateral now. Too bad.

FergusS2050

newbie

Activity: 15

Merit: 0

It is purely a waste of time and money. Do not invest in this site.

MadeinCoin

legendary

Activity: 1386

Merit: 1003

Quote from: BTC LOVER on December 06, 2015, 01:43:42 AM

Serioulsly Guys i simply gettin paid from several Users, but from several Users not.

So iam invested 1 BTC at all. No i got Back about an half and the rest is still pending after 2 Month. The loans where somewhere at 1 - 6 Months.
A lot of People are not Paying and so its missing 0.2 BTc by itself..

Anyways whats your s yus?

regards
lama-hunter

they are instructed that you invest in a variety of loan offer to reduce the risk of losing your money but the loss still occurs, even the members with a rating score of A ++ does not pay the loan now I decided to never invest my money in BTCjam

BTC LOVER

full member

Activity: 126

Merit: 100

Bitcoin for the Charity :)

Serioulsly Guys i simply gettin paid from several Users, but from several Users not.

So iam invested 1 BTC at all. No i got Back about an half and the rest is still pending after 2 Month. The loans where somewhere at 1 - 6 Months.
A lot of People are not Paying and so its missing 0.2 BTc by itself..

Anyways whats your s yus?

regards
lama-hunter

Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 14. (Read 204979 times)