Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 16. (Read 204974 times)

Ok,

so I remained silent for a while but now I really want to make a serious BAD comment about BTCJAM

I had been warned by some fellow investors that at the moment they were doing some serious favoritism towards for example their

"Brazilian" friends for example, I was pretty skeptic but seems it is indeed true.


I am Freak*** A rated had previous loans, and now I am indeed in need of a small loan, they just continuously delete the loan post.

Also had one of the BTCjam employees that called me when I posted the first time the loan, explained all that there was to explain, loan got deleted,
emailed support that told me that with 250$ monthly I could not apply for a loan.

I was like.. WTF 250 monthly!? where the hell do they get that from? I got salary verified a while ago already and needles to say my salary alone is WAY more than 250$ lol ( I really don't know where they got that from )

Like I told your staff, that's just the sum I pay monthly already for my storage, without taking into account my rent, my bills etc etc etc..

So of course when I did send an email where the hell they could think I can live of 250$ per month I got an email back to post the loan again and that they would call me to sort things out.

Well guess what. Did just that, loan got deleted again and of course support ignores all emails.

PS: a company that deletes even the slightest comment on their Facebook like "Is there someone to answer support as why my loan gets deleted?"
has some serious issues to hide any negative views towards it.

I lost as an investor money on BTCjam towards people they accepted with like E ratings and they do not even accept a loan demand from an A grade person that even would be A+ if they would have an agreement with my bank to verify my card and bank


So yeah, sorry to say this but I'm very disappointed in Jam as an old member there.

 when I go to a site , the browser reports an error: sec_error_revoked_certificate

Oh well, ladies and gentlemen, they win.
Better did they did now than when someone's money was act stake here, right?


Final results start ----------


>  xxxxxxxxx xxxxxxxxx
>  SUBJECT: RE: Case #: xxxxxx
> -------------------------
>  OCT 06, 2015 | 0x:16PM PDT
>  xxxxx replied:
>
> Hey xxxxxxxxx,
>
> So you know, we at support didn't run this Q&A and had nothing to do
> with it so we do not know the answer to your question. Im not exactly
> sure what you want here, but we do not accept every borrower who comes
> to BTCjam and looks for a loan. Hope that helps!
>  Cheers,
>
>  xxxxxx
>  BTCJam


To which I replied:

Date: Tue, 6 Oct 2015 04:07

Again, I was simply asking why you were playing deceptive games with my personal information, my time, and the account, thats all.

You guys put me at a grade E, then a grade D, then when I submitted an additional bank account, you said it would take a couple of hours, and last I check (less than 12 hours ago), the rating was still blank, so it as if you're penalizing me for asking. Something me and others would like to know before hand though, because we have to trust you too.

Although you still didn't really answer my question, I get where you're coming from with your reply and I'll just tell everyone that I'm leaving it at that.

Final results end ----------

Well...

Get a load of this. Here is their reply. Actually, it's worse than I thought it would be.

This might be too much info, but combine this with whatever your experience is to come to your own conclusions. I know you are solidifying mine. Perhaps Companies like yours (and GAWMiners/Zenminers - Who has a bunch of our money) send warning signs based on how you treat certain customers.

Of course, now that I'm publicizing this, and this message is totally recognizable by you guys, I won't be surprised if you all out restrict/ban my account. A sure sign of what you were all about from the start.

Why am I doing this? Because I'm not the only one who has been treated like this, and companies like you aren't totally straight about things and you get away with it. And when you fail to keep your end of the bargain you  try to ride on how straight you are when you have not been:


On 2015-10-02 17:32, Support wrote:
> __________________________________
>
> -------------------------
>
>  XXXXXXX XXXXXXX
>  SUBJECT: Recent Webinar
> -------------------------
>  OCT 03, 2015 | 0X:XXPM PDT
>  XXXXXXX replied:
>
> Hello there,
>
> Unfortunately I do not have access to who was blocked or not from the
> WEBNAR. Unfortunately I will not be able to help you on that. Thank
> you!
>
> -------------------------
>
> How satisfied were you with the assistance we provided today? [1] |
> [2] | [3] | [4]
> -------------------------
>  OCT 01, 2015 | 02:34AM PDT
>  Original message
>  XXXXXXX wrote:
>
> From your recent "Webinar", I have users contact me about why you guys
> blocked me from asking questions.
>
> I explained to them that I asked "Why my account was given "E" raiting
> (now it's D) in your system when I (I represent a corporation) gave
> ALL of my LEGITIMATE and LEGAL United States of America personal
> information.
>
> Your competitors (including LoanBase (Bit Lending Club) check and
> accepted EVERY piece of my information (I have proof if you like) and
> found it to be in order, so I've concluded that your rating of me MUST
> be personal. I don't know if it's my color, where I live, or what, but
> as an adult, I have used the SAME information to establish and
> maintain BANKING and STOCK TRADING relationships, but I'm not good
> enough for your service? That wreaks of discrimination! And when it
> comes to dealing with money, I will not hesitate to warn others.
>
> You claim to hold users of your system to high standards and I feel
> its only fair that you be held to high standards yourself, and
> discrimination is unacceptable in the global financial community.
>
> XXXXXXX
>
> P.S. This is well beyond believing any generic, canned "We reviewed
> your information" reply. My information was specific, long standing,
> and vetted and verifiable FAR BEFORE YOUR COMPANY CAME ON THE SCENE.
>
> -------------------------
>


And to them I replied:

You side stepped the real issue, which is "Whats going on with the treatment", of me and my account that is.

I wasn't asking you to look in to who blocked me.

And nonsense, you know EXACTLY who blocked me. THE PERSON WHO WAS SITTING THERE ON THE SCREEN, READING, SCANNING, AND SCREENING THE QUESTIONS IN OUR FACES.

Perhaps I'll get a more sensible answer over at what seems to be your public support thread at bitcointalk.org?

Ok.

------------------------------

And my rating is STILL blank.

That's been my concern too!

What really concerns me is how I uploaded all of my personal information to this btcjam, which include government I did and paper work, verifiable institutional, and social media connections and yet they kept me at a E rating since August 2014. I uploaded the EXACT same information to bit lending club and was approved (and in good standing).

I submitted the following aged accounts:
Google               1131565457397130xxxxx
facebook           1000059108xxxxx
ebay                   nY+sHZ2PrBmdj6wVnY+sEZ2PrA2dj6wxxxxx
twitter           21694xxxxx
localbitcoins   bitcoinCorporation
Coinbase           5094e13096c42002000xxxxx
Localbitcoins   bitcoinCorporation
Postal Mail from the government
Bank Account/s


And a couple of things more. I've had and actively used these accounts for years, and yet btcjam gave me an E rating? So after over a year, I asked... ONE question in yesterdays "webinar". I simply asked "How come I have an E rating on your system and your competitor approved me and ALL info is the same?" BOOM. They blocked me! WOW.

After the webinar I went to the site to send a support message. I logged in, left a support email explaining the situation again and that some others contacted me wondering too. I noticed that my rating was now D, so, thinking perhaps something might have been broken before, I submitted ANOTHER bank account to which the system responded that my rating would be upgraded in a couple of hours. It's been 20 hours now and my rating is STILL BLANK! ?

Does this have something to do with the support message I  left? Yes, I voiced my concern that Btcjam.com makes me feel as if they might be discriminating on something that has nothing to do with verification, credit and ability to re-pay when all other things are equal to anyone else. Lets face it, people do, but hardly ever admit it. I'm sure that IF I get a reply thats it will say thats not the case and will probably claim some type of analysis or cryptic algorithm. PppppppPpp. Right.

I just wish that I hadn't even bothered in the 1st place because I feel like a sucker, putting all of my information in yet ANOTHER damned database of some company that I don't but claims to be better than my library, all my banks, the department of motor vehicles, any place I ever work, car rental agencies and places I've rented.

And after reading the messages here (during the composition of this post) I realize that I've been shut down after throwing away something thats been very precious to me for many many years (my privacy) while not enough effort was put in to stopping real thieves.

All this to say, my biggest concerns WAS confusion/disagreement with giving me an E rating, but now I really don't like ANYONE having all of my personal (private) information and then BLOCKING me and my ONE respectfully asked question in a webinar as if it were a forbidden subject and I was not worthy of an answer (not even in private after the question).

The cryptcurrency (digital currency in general) arena sure can make you pay dues that have you questioning just how much you can stand...

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

Is there no way to verify someone other than by uploading a photo ID (or tax documents)? That's too much of a privacy risk (EDIT: ...just to sell a note. I'm ok with uploading an ID in order to borrow BTC). No offense, but larger and better-funded companies have been hacked and people's PII has been stolen (Home Depot, Target, US Govt employees, etc.). I don't believe that selling a note that someone owes me is worth uploading a photo ID.

How about a verified PayPal account?

If you can do this, I'll resume lending.

Sorry to hear this! We are trying to protect the notes marketplace and make sure there is not any manipulation of any kind within the secondary marketplace. Unfortunately this is the best step to being able to have a strong secondary marketplace. Sad to hear that this really upset you.

Hey there,

Can you PM me your alias with us so I can look into this. We made a change with deposit addresses recently, maybe the funds were sent to the old one? PM me your info and I'll make sure we get this resolved, thank you.

We have two types of loans, Bitcoin only and linked BTC. Linked would protect you from the volatility of BTC price. Your borrowing amount can be pegged to a currency so that you always pay back that amount + interest. Its a good way for borrowers like you who are worried about volatility when paying back. Hope this helps

Here's the latest: it took several days for BTCjam to reply to my ticket, and they said that they do indeed have a new policy where you can't trade notes unless you upload a photo ID. They said the reason for this is that some people were manipulating the notes market. That may be, but this site is no longer for me.

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.

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.

BTCScam you mean?

Here is the new hall of shame thread:

Scammers get doxxed until they have repaid.

https://bitcointalksearch.org/topic/m.12536615

Three days ago I requested a deposit to my btcjam account. In the blockchain the movement apears to have gone through but the money never entered my account. Now I am faceing overdue charges and all my money is lost. I know the bitcoins are in btcjam possesion(because I can see their autamated deposit system) but they have refused to answer to my every comunication. Their support system is completely absent. I have sent numerous messages but no answer at all to any.

Very depressing to see this kind of good ideas go so easily to trash because of their lack of care for their clients.

BTCJAM: answer your tickets!

I don´t advise to  borrow money in this site as it is not trustworthy.

I have same problem so I also want to stop using BTCJam and I want to withdraw my funds from BTCJam. But I can't neither sell notes nor withdraw BTC. I asked BTCJam about it and got the answer :

"Hello there, in order for you to be able to withdraw, you have to verify your identity in our platform. You have to submit a photo of your ID and also you have to provide your address. Make sure you do that on our website."

So BTCJam has enforced a new rule I don't really like. But I dont have a chance to withdraw my funds from BTCJam without following the new rule.

Only good thing is I don't have autoinvest enabled, because that would properly work ...

A not happy BTCJam investor
 -Halb

They have really terrible support and they spam with same mail.
Don't answer on my question fucking site.
Stay away.

hi i have a question

if i get loan 1btc($230)

but btc price change 115$(half of 230$)

How much do i pay?

1btc?230$?115%?

I've been a lender on this site for a few months (never borrowed) so I haven't had to upload ID or other personal documents. I've sold notes on there before too, but just recently I tried to sell a note and was told " You need to verify your personal information before trading notes." I emailed support a few days ago asking 1) why I could sell notes before and now can't, and 2) why do they need my personal info for me to sell a note? I haven't received an answer yet.

If they reply that they will continue this policy -- which seems like an unnecessary reach for private information--  then I will stop using the site.

I'll post back with their reply.

Ooops noted.