[ANN] BTCJam - Peer to Peer Bitcoin Lending - page 54.

gweedo

legendary

Activity: 1498

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Quote from: ThaddeusB on February 02, 2013, 10:09:26 PM

LOL. You have nothing currently invested and cut off the amount paid back (probably because you invested like 1 coin ever), yet you spend endless time here promoting the site, talking about how awesome you are at lending, and calling everyone else a fool?! Thanks for proving what everyone already knew - you are a douchebag full of nothing but hot air.

First off currently I invested in a loan, that is below 70% so obviously that will not show up in the pending amount. Second why should I show you how much I make, I don't want you to get upset when you see the number. But I can say it a lot more than 1 coin, probably more than you have seen in your wallet. You can call me whatever you want, I think it is a great site, and I think some people here, are jealous of how others can use the site and make good money. Also just a third off topic comment for you, even if I did show you how much I made off the site, you be jealous, but there are like 3 people that I met off that site and they keep coming back and they pay very well for the loan of my money, so yeah I don't even need to use the site, I could live off those 3 lendees.

Amazing how other people want to keep my books for me, maybe I can hire ThaddeusB to be my book keeper I may need one soon.

Also just another aside, I am currently working on site and soon will be launching that so yeah, my time is kinda taken up.

ThaddeusB

member

Activity: 84

Merit: 10

Quote from: LoweryCBS on February 05, 2013, 07:24:06 PM

Did I hear someone say "Put-up or Shut-up"?

Congrats on your profits and I hope your remaining 177 is paid (honestly). Looks like you've made wise choices, at least so far. On the other hand, I'm not sure I'd be bragging about my judgement if I got scammed out of 45 BTC (https://bitcointalksearch.org/topic/scammer-warning-illwill-135929), but hey everyone makes mistakes.

Of course, even with a 45 coin loss, you are a million times better than gweedo. He is all air and trolling, and doesn't have the guts to post his full record.

ThaddeusB

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Activity: 84

Merit: 10

Quote from: Tulkas on February 03, 2013, 03:15:51 PM

Quote from: John (John K.) on February 02, 2013, 10:27:02 PM

Quote from: ?? on ??

Quote from: gweedo on February 01, 2013, 09:19:02 PM

ZOMG SHOOP!

I agree with what your saying, there is a skill in picking out the non-scammers. the total I have been scammed for is <0.5BTC (those loans were mainly "for the lulz"). I had around 80BTC invested in the site at one point. The only thing I don't like about BTCJam is the lack of comeback against scammers as they will not release the docs, which is why I've decided to stop using it.

Thank goodness I haven't started investing yet.

John,

The lender cannot have the documents, this is illegal, BTCJAM can't handle they to you and even if you decide to lend on the forums, every time you ask for documents in order to lend money to U.S., U.K or Russian (and many other) citizens you are breaking the law!

It's illegal in all the above countries (plus 140 more) to conduct this kind of non anonymous, non arbitrated lending activities. After all, what you intend to do with the documents?? Go after the borrowers and do what? It's illegal to lend anything in this fashion, let alone contact the person asking for payments.

The purpose of the identity verification is to create an ecosystem of trusted peers, this is already happening. We are also working to get a collection procedure in place, this is being made in a legal fashion, backed by international laws.

Do not do it by yourself, you cannot go after the borrower because lending money directly to another person in this fashion is illegal to begin with, our system is a safer and legal way to do that.

Um, it most certainly is not illegal to ask to see someone's ID in the United States. You probably can't hand over the docs to lenders, but is only because you didn't tell people upfront that you would do so. It is NOT because of some law forbidding non-anonymous lending.

cosmicone

member

Activity: 105

Merit: 10

Quote from: gweedo on February 05, 2013, 08:21:22 PM

Not a stakeholder but made enough bitcoins off the site that I am good. I am replying to you cause you should like the biggest idiot ever, and you obviously have no idea of how P2P loaning works so yea I am going to reply to you and show you how your being a moron LOL That would lead me to you who I think is being a troll, cause you have no idea what you are talking about.

I'll ignore your grammar and assume English is not your first language. Oh, while I'm at it, I'll just ignore your userid.. there that solves a lot of problems.

Tulkas, I apologize for taking your thread off course. I look forward to your continued improvement of BTCJam, and hope that my suggestions can help.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: cosmicone on February 02, 2013, 12:01:06 AM

Quote from: gweedo on February 01, 2013, 09:19:02 PM

I have lost nothing, I have never been scammed on btcjam. You did say the site sucks, cause you can't pick non-scammers from scammers. In every p2p lending site, people will be scammed, people are scammed here on this forum, so to say that people that requesting to just scam, will drive away lenders is so dumb. Cause people like me know where the scammers are and how to avoid them you honestly didn't. As btcjam's owner said they do 77% payback that is a good number right now, you picked the scammers your dumb. Sorry, that is life, I was willing to help you for 10btcs.

Don't get your panties in a knot. I only do BTC for shits and giggles... waste time while working.

PS: It's you're dumb.. not your dumb. Ironic eh?

LMAO don't worry I don't wear panties so they are not in a knot and I can tell you don't care about your money so that is good for you, free spirt I am guessing LOL

Ok english professor I guess this is an english paper sorry I will write another one LMAO

Ok now go away while us smart people make money

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: cosmicone on February 05, 2013, 08:15:49 PM

Quote from: gweedo on February 05, 2013, 08:09:37 PM

It is really ok, that your jealous that we can pick loans and you can't with your little 4 btcs. Just own it and move on to something else cause your trolling yet it aint working LOL

Not sure why you're even replying to my posts. Tulkas has been replying to people with real suggestions/comments, and making changes when necessary to improve the site. I have no idea who you are, or if you're even a stakeholder in BTCJam... I assume you're not though.

Which would lead me to think.. who is the troll?

Not a stakeholder but made enough bitcoins off the site that I am good. I am replying to you cause you should like the biggest idiot ever, and you obviously have no idea of how P2P loaning works so yea I am going to reply to you and show you how your being a moron LOL That would lead me to you who I think is being a troll, cause you have no idea what you are talking about.

cosmicone

member

Activity: 105

Merit: 10

Quote from: gweedo on February 05, 2013, 08:09:37 PM

It is really ok, that your jealous that we can pick loans and you can't with your little 4 btcs. Just own it and move on to something else cause your trolling yet it aint working LOL

Not sure why you're even replying to my posts. Tulkas has been replying to people with real suggestions/comments, and making changes when necessary to improve the site. I have no idea who you are, or if you're even a stakeholder in BTCJam... I assume you're not though.

Which would lead me to think.. who is the troll?

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: cosmicone on February 05, 2013, 07:57:24 PM

Quote from: gweedo on February 05, 2013, 07:37:14 PM

LOL you shut up a lot of people, since everyone thought I was the only one that makes money on this site, but see smart people know how to invest there money and rake it in.

Doesn't show that he has made a cent. All it shows is that he has 177BTC as a liability, which could at some point become overdue. The 222 paid, could have been the same 1BTC lend out and paid back over and over again *however I doubt it is.

Looking at this screen, the alias has not been shown... I suspect it's someone who has loaned a lot of money on one or two large loans... but again, hard to say with that little bit of information.

It is really ok, that your jealous that we can pick loans and you can't with your little 4 btcs. Just own it and move on to something else cause your trolling yet it aint working LOL

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: ?? on ??

Another thing is it's extremely easy to game the rating system on BTCJam. Simply lend 1 satoshi to every loan on the site and you'll have instant high rep.

I never look at scores really so that doesn't matter to me.

Also just answer this you get the docs, after the scammer has scammed you hypothetically, what are you going to do with these docs?

cosmicone

member

Activity: 105

Merit: 10

Quote from: gweedo on February 05, 2013, 07:37:14 PM

LOL you shut up a lot of people, since everyone thought I was the only one that makes money on this site, but see smart people know how to invest there money and rake it in.

Doesn't show that he has made a cent. All it shows is that he has 177BTC as a liability, which could at some point become overdue. The 222 paid, could have been the same 1BTC lend out and paid back over and over again *however I doubt it is.

Looking at this screen, the alias has not been shown... I suspect it's someone who has loaned a lot of money on one or two large loans... but again, hard to say with that little bit of information.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: ?? on ??

The only thing I don't like about BTCJam is the lack of comeback against scammers as they will not release the docs, which is why I've decided to stop using it.

I think that is a poor excused for stop using the site. Find me another P2P site that allows it's users to get the document about other users. That is how this land works.

On the other hand lets say you did get documents for users that scammed you. What are you going to do? Spend more money on a lawyer to file a lawsuit, that may never get resolved for many years. What is getting docs going to do for you?

gweedo

legendary

Activity: 1498

Merit: 1000

LOL you shut up a lot of people, since everyone thought I was the only one that makes money on this site, but see smart people know how to invest there money and rake it in.

Quote from: LoweryCBS on February 05, 2013, 07:24:06 PM

Did I hear someone say "Put-up or Shut-up"?

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: cosmicone on February 01, 2013, 09:04:40 PM

Quote from: gweedo on February 01, 2013, 05:40:22 PM

Another stupid person who doesn't understand P2P loans... Please google it and then you will not be dumb. I will always be on btcjam I yet to be scammed cause you have to accept responsibility for the loans you make. Obviously you didn't read the loans just went by verification score. That is very bad, and now your mad so you think the site sucks, that is a poor excuse for your stupidity. I would teach you how to pick good loans but then why would I do that, so 10btcs I can help you pick loans and take a way a lot of risk by looking at the actual loan and not there scores.

Maybe you should re-read what I wrote. I never mentioned anything about the site sucking. I said that if the people requesting loans are only there to scam and default, there will be no lenders, and the site will collapse.

I read every loan, keeping in mind that any text could be complete bullshit. I only loaned on reasonable sounding ones with people that have positive feedback and previous loans. I only lent what was I willing to lose.

Post up your BTCJam loans, let's see your track record.

I have lost nothing, I have never been scammed on btcjam. You did say the site sucks, cause you can't pick non-scammers from scammers. In every p2p lending site, people will be scammed, people are scammed here on this forum, so to say that people that requesting to just scam, will drive away lenders is so dumb. Cause people like me know where the scammers are and how to avoid them you honestly didn't. As btcjam's owner said they do 77% payback that is a good number right now, you picked the scammers your dumb. Sorry, that is life, I was willing to help you for 10btcs.

LoweryCBS

sr. member

Activity: 364

Merit: 250

firstbits 1LoCBS

Did I hear someone say "Put-up or Shut-up"?

Quote from: ThaddeusB on February 03, 2013, 03:08:01 AM

Quote from: gweedo on February 03, 2013, 12:10:52 AM

Quote from: ThaddeusB on February 03, 2013, 12:04:41 AM

I couldn't care less about how much (i.e. little) you've made on BTCJam, but if you want to brag about how awesome you are, you should be willing to back it up. Obviously you won't because you can't, but hey keep stroking yourself if you like. Fact is you are nothing special - just one of a million internet "geniuses" who are all talk and posturing.

It was obviously a big deal to you since you decided to post about how I posted a picture of what my account pass due and account pending investments and you were all up in arms about that I didn't show the account investment balance. So you do care LOL it is ok your just mad.

Nope, as usual your "logic" is highly flawed. Reality is, that I just don't like a bullshitter or a better-than-thou troll and you sir are grade A in both categories. I will continue to call out your nonsense as long as you feel the need to attact anyone and everyone who has a negative experience with BTCJam.

P.S. I wouldn't even be surprised to learn that A) you have invested a total of 0 coins ever; or B) you actually have lost funds and took the screen shot from your borrowed funds list.

cosmicone

member

Activity: 105

Merit: 10

Quote from: Tulkas on February 05, 2013, 05:10:55 PM

Quote from: cosmicone on February 05, 2013, 04:32:38 PM

Cover that 21% of loss, and I bet the improvements will come a lot faster. At this point, you put 100% of the risk on the lender, with absolutely no risk to the site, or borrower. The borrower can default, open a new account... the site never loses, as you could just say we have scammy borrowers (at a rate of 20-some-odd percent).

I'm sure there are good borrowers on the site, but currently there are too many deadbeats.

Not that I ever had much BTC on your site, I think 4BTC at the most, which I considered would be a gamble anyway, but I think you'll scare off new investors, or not keep investors for very long with the high rate of non-payments.

These are just my opinion.

The borrower defaults and then can't open another verified account. The improvements are underway.

Since Facebook, phone and Linkedin are all automated, there is nothing stopping them from opening another account under another alias.... As long as they can pass those tests... and there are no penalties to them even if they do default, as no one can know their details.

I'm glad you're doing more to make the system safer for lenders...

Tulkas

sr. member

Activity: 352

Merit: 250

Founder, BTCJAM

Quote from: cosmicone on February 05, 2013, 04:32:38 PM

Cover that 21% of loss, and I bet the improvements will come a lot faster. At this point, you put 100% of the risk on the lender, with absolutely no risk to the site, or borrower. The borrower can default, open a new account... the site never loses, as you could just say we have scammy borrowers (at a rate of 20-some-odd percent).

I'm sure there are good borrowers on the site, but currently there are too many deadbeats.

Not that I ever had much BTC on your site, I think 4BTC at the most, which I considered would be a gamble anyway, but I think you'll scare off new investors, or not keep investors for very long with the high rate of non-payments.

These are just my opinion.

The borrower defaults and then can't open another verified account. The improvements are underway.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: LoweryCBS on February 01, 2013, 05:49:45 PM

Amen.

I'm pretty sure that a 50% 90-day loan for "Hookers and Blow" (regardless of the rating) is not where you should put your funds.

I've had 100% success with loans there, thus far. It's just a simple matter of differentiating between:

The Good: https://btcjam.com/listings/584
The Bad: https://btcjam.com/listings/1466
The Ugly: https://btcjam.com/listings/1506

How difficult is that?

And I thought I was on crazy pills, another smart person emerges Thank you!

cosmicone

member

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Merit: 10

Quote from: Tulkas on February 05, 2013, 04:27:30 PM

Quote from: cosmicone on February 04, 2013, 01:58:34 PM

So the rate of BTC lost to delinquents is actually more like 25.71%. 2065.20 of 8081.83 in total loans has not been paid back. So it is a significant rate of non-payment, or $41,300(USD) give or take.

Now if that 2065 includes the interest as well, then yes you would be more like 78.3% .. which in itself is not impressive.

No, the repayment rate is 78.3%, as the time passes the defaults will add up but so will the payments.

We are working towards improvement, the early Prosper repayment rate (first two years) was bellow 60%.

Cover that 21% of loss, and I bet the improvements will come a lot faster. At this point, you put 100% of the risk on the lender, with absolutely no risk to the site, or borrower. The borrower can default, open a new account... the site never loses, as you could just say we have scammy borrowers (at a rate of 20-some-odd percent).

I'm sure there are good borrowers on the site, but currently there are too many deadbeats.

Not that I ever had much BTC on your site, I think 4BTC at the most, which I considered would be a gamble anyway, but I think you'll scare off new investors, or not keep investors for very long with the high rate of non-payments.

These are just my opinion.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: deadweasel on February 01, 2013, 05:41:45 PM

I'll show you how for 5BTC. This other guy is a total scammer. Tongue

You got me I totally ripping off everyone LOL I actually came to that number due to the time I have in a day, and that is what it cost, to get some of my time, which would be taken away from other things. But if you can do it for 5btc then that is great!

Tulkas

sr. member

Activity: 352

Merit: 250

Founder, BTCJAM

Quote from: smracer on February 04, 2013, 10:04:03 PM

There needs to be a better way to weed out scammers on BTCJAM. It seems every other listing is a scam and many of the loans appear to be from the same people.

Yes, we are currently implementing two additional (and much safer) identity verification procedures and a disputes forum. more news soon.

Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 54. (Read 204975 times)