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Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 15. (Read 204974 times)

legendary
Activity: 1386
Merit: 1003
BTCJAM is a scam operation, and here's why: they collect 5% fees from each loan, and they do not refund the fee if the borrower disappears (which happens in the majority of cases). Therefore site owners directly benefit from ill-gotten funds.
Anyone lawyer here? time to organize a class action suit.
I realized this they take a fee of 5%  but they are not at risk , I think the fee of 5 % is too big because it does not have the risk of losing, while they have never done anything against the investors who lost money
sr. member
Activity: 306
Merit: 257
BTCJAM is a scam operation, and here's why: they collect 5% fees from each loan, and they do not refund the fee if the borrower disappears (which happens in the majority of cases). Therefore site owners directly benefit from ill-gotten funds.
Anyone lawyer here? time to organize a class action suit.
newbie
Activity: 57
Merit: 0
How to verify the data bank my country is not listed to verify the bank I want to improve credit score
you have other ways to raise credit scores ?

Actually site is very amateur.
why do you say amateur ?

Yes, their behavior says A LOT about them:

- They come here and make a quick comment and make it obvious that they're ignoring most of the inquiries and concerns here - Amateur
- Ignored the support email on Oct. 20th, 2015 asking: "Whats invalid about my bank account?" - Amateur
- Ignored the support email on Oct. 26th, 2015 asking: "Whats invalid about my bank account?" - Amateur
- Ignored the support email on Nov.  6th, 2015 asking: "Whats invalid about my bank account?" - Amateur

I don't have a problem with understanding that it is a private company's right to refuse anyone service, but it's quite disrespectful and shady to collect someone's private/personal information, then LIE and DECEIVE them. Makes me fighting mad.

See, it would be very unprofessional for me to say "I better NEVER see any of your company's key operators come to our company/companies for business once we become a service you might have to rely on. I won't forget the disrespectful treatment".

Someone might say there are more profitable ways to deal with people and companies like this.

#_A_ S _K Josh Garza about Black Magick...
legendary
Activity: 1232
Merit: 1001
How to verify the data bank my country is not listed to verify the bank I want to improve credit score
you have other ways to raise credit scores ?

Actually site is very amateur.
why do you say amateur ?
because they are
hero member
Activity: 2464
Merit: 550
Leading Crypto Sports Betting & Casino Platform
How to verify the data bank my country is not listed to verify the bank I want to improve credit score
you have other ways to raise credit scores ?

Actually site is very amateur.
why do you say amateur ?
legendary
Activity: 1232
Merit: 1001
How to verify the data bank my country is not listed to verify the bank I want to improve credit score
you have other ways to raise credit scores ?

Actually site is very amateur.
legendary
Activity: 1386
Merit: 1003
How to verify the data bank my country is not listed to verify the bank I want to improve credit score
you have other ways to raise credit scores ?
full member
Activity: 135
Merit: 100
Support for the global P2P lending platform:BTCJam
Type: Credit Information
New Status: Invalid - The data in the photo and the information submited are inconsistent.

hi guys, hi BTCjam
What do you want more?
this is my third try, i've sent my bank statement which covers last 2 months with my google adsense earnings.
What can i do more?
I assume that your verification team is unable to understand what is valid or invalid.

Waiting for your support.



We dont take Adsense income for this verification. Please send us some tax documents or paystubs please. Thanks
newbie
Activity: 57
Merit: 0
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.

Get a load of this:

Your request for Address Information has been rejected. Please resubmit it.
Your request for Financial Institution Verification (Simple - Bank) was accepted!

It's the same Bank!

Why do you guys make of all of this?


The site is run by incompetent, greedy scammers itself, maybe? They sure do take their time on support tickets, and are never very helpful.  Tongue

Wish I could "Like" or thumbs-up that statement.

@bobmarley650 - Well, you, like me and other have stupidly given sensitive information to someone insensitive, questionable, and possibly nefarious, so you better do like me and watch your back, be prepared to shoot obvious trespassers Smiley and even do some traveling if you end up obviously taken advantage of in some way. There are many Gawminer/Josh Garza types out there.



legendary
Activity: 1848
Merit: 1009
Next-Gen Trade Racing Metaverse
Any site that gives far too much leverage to borrowers of funds is in my mind systematically flawed. Any site that does not provide any security whatsoever to the lender helps criminals steal money from honest people. I am building a site where collaterial is always required and the more liquidizeable the collaterial, the higher your user account trust rating goes. The website will be based on the CakePHP framework as well, adding strong security based on a framework that works.

Sounds cool. Not sure how you would require collateral though. Like what? Here, people use their accounts or other digital goods. Are you planning on doing something similar? IMO, one of the largely unsolvable issues is that most Borrower's don't have enough collateral to begin with, which probably fuels (in part) the asking for a loan. If you look at the loan section, most are for small amounts on here - Probably gambling. These BTCScam scums are just worse, they just run off and leave all their dox wide open.

PSA - If you have been ripped off by BTCScammers, see my signature. Tongue
As far as loans without collateral are concerned, I am thinking about programming in a loan bidding process where investors bid on loans without collateral. I do not have the details worked out, but I plan on basing the procedure from that of other social fiat lending sites.

What kind of collateral would be required? Would this be digital properties too? Like domain names, websites, and forum accounts like here?

Also, I'm really curious about your bidding process, why would investors even bid for these, would they bid for the least interest rate?
legendary
Activity: 3570
Merit: 1959
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.

Get a load of this:

Your request for Address Information has been rejected. Please resubmit it.
Your request for Financial Institution Verification (Simple - Bank) was accepted!

It's the same Bank!

Why do you guys make of all of this?


The site is run by incompetent, greedy scammers itself, maybe? They sure do take their time on support tickets, and are never very helpful.  Tongue
newbie
Activity: 57
Merit: 0
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.

Get a load of this:

Your request for Address Information has been rejected. Please resubmit it.
Your request for Financial Institution Verification (Simple - Bank) was accepted!

It's the same Bank!

Why do you guys make of all of this?
sr. member
Activity: 448
Merit: 251
Any site that gives far too much leverage to borrowers of funds is in my mind systematically flawed. Any site that does not provide any security whatsoever to the lender helps criminals steal money from honest people. I am building a site where collaterial is always required and the more liquidizeable the collaterial, the higher your user account trust rating goes. The website will be based on the CakePHP framework as well, adding strong security based on a framework that works.

Sounds cool. Not sure how you would require collateral though. Like what? Here, people use their accounts or other digital goods. Are you planning on doing something similar? IMO, one of the largely unsolvable issues is that most Borrower's don't have enough collateral to begin with, which probably fuels (in part) the asking for a loan. If you look at the loan section, most are for small amounts on here - Probably gambling. These BTCScam scums are just worse, they just run off and leave all their dox wide open.

PSA - If you have been ripped off by BTCScammers, see my signature. Tongue
As far as loans without collateral are concerned, I am thinking about programming in a loan bidding process where investors bid on loans without collateral. I do not have the details worked out, but I plan on basing the procedure from that of other social fiat lending sites.
legendary
Activity: 1232
Merit: 1001
Being and active user will change my rating?
For example if i deposit 5 btc, will it change the rating?
newbie
Activity: 57
Merit: 0
I tried to borrow 1 BTC in btcjam loan duration 1 month
I need to return a total of 1.75 BTC, this is really bad
Interest rate 75 %   1 month   Undecided

http://i.imgur.com/Dee8IIs.jpg

Wow. In some jurisdictions thats probably considered "usery".

-------
u·su·ry
ˈyo͞oZH(ə)rē
noun
the illegal action or practice of lending money at unreasonably high rates of interest.
interest at unreasonably high rates.
-------

legendary
Activity: 2212
Merit: 1008
I tried to borrow 1 BTC in btcjam loan duration 1 month
I need to return a total of 1.75 BTC, this is really bad
Interest rate 75 %   1 month   Undecided

http://i.imgur.com/Dee8IIs.jpg
sr. member
Activity: 308
Merit: 250
Ok, looks like noone noticed my question, so one more time:

@BTCJamSupport: Just being curious - it's arbitration here, arbitration there - how many successful arbitrations already passed?

Support is non existent at BTCJAM, they just care to do what they like for who they decided to. The rest they don't care one inch
legendary
Activity: 2338
Merit: 1124
Ok, looks like noone noticed my question, so one more time:

@BTCJamSupport: Just being curious - it's arbitration here, arbitration there - how many successful arbitrations already passed?

From my experience, I'd say: None. They hand you out a worthless e-mail and then leave you alone.
sr. member
Activity: 304
Merit: 250
Ok, looks like noone noticed my question, so one more time:

@BTCJamSupport: Just being curious - it's arbitration here, arbitration there - how many successful arbitrations already passed?
member
Activity: 93
Merit: 12
when I go to a site , the browser reports an error: sec_error_revoked_certificate

I filed a support case about that with them and never got an answer  Huh - seems to be fixed now though (error does not show up in Firefox anymore).
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