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Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 62. (Read 204994 times)

sr. member
Activity: 352
Merit: 250
Founder, BTCJAM

Important announcement.

We have detected fraudulent transactions to address 1CP6dby8s3XNVFJPBQkXczDQFEqZ1jVnQS.

The website was taken offline for investigation.

Although some bitcoins were stolen from our "hot" wallet all deposits will be honored and the service will get back up as soon as we identify the problem.

legendary
Activity: 1400
Merit: 1005
Will be interesting to see how the loans go after the recent jump from $13.80 to $14.3. IS there a list of loans with outstanding balances, repayment history, delinqneucy info, etc anywhere that's conveniently available?
"Bitcoin.  Harder to repay, every day."

This might also make people try to pay off loans faster. I have a loan with a year term that I am certainly not interested in waiting a year to pay it off.
And not take out loans in the first place!
hero member
Activity: 826
Merit: 1000
Will be interesting to see how the loans go after the recent jump from $13.80 to $14.3. IS there a list of loans with outstanding balances, repayment history, delinqneucy info, etc anywhere that's conveniently available?
"Bitcoin.  Harder to repay, every day."

This might also make people try to pay off loans faster. I have a loan with a year term that I am certainly not interested in waiting a year to pay it off.
legendary
Activity: 1400
Merit: 1005
Will be interesting to see how the loans go after the recent jump from $13.80 to $14.3. IS there a list of loans with outstanding balances, repayment history, delinqneucy info, etc anywhere that's conveniently available?
"Bitcoin.  Harder to repay, every day."
legendary
Activity: 1680
Merit: 1035
Will be interesting to see how the loans go after the recent jump from $13.80 to $14.3. IS there a list of loans with outstanding balances, repayment history, delinqneucy info, etc anywhere that's conveniently available?
member
Activity: 118
Merit: 10
Owner of Empire Hotels
I use BTCJam a view days And lend to 5 different People in 3 Times i got my Money back. The other lendings are currently Running.

Its a cool webpage,
But Only users with a rating greater than 3 can rate others is uncool as a lender.

Maybe a fee payed by borrower for a Scam Fund  whould be nice..
newbie
Activity: 53
Merit: 0
I've been playing with the site for several days, and there is definitely some problem with withdrawals, as others have already pointed in this thread.

I requested a withdrawal of 0.1 BTC from my account.
My BTCJAM account was debited 0.0955 BTC
On my address I received 0.095 BTC
The transaction has a 0.0005 BTC network fee, which was obviously deducted from the debited amount, before sending to my address.

Why debit 0.0955 BTC instead of 0.1 BTC in the first place, which was the amount requested?
sr. member
Activity: 434
Merit: 250
Craps is a magnificent dice game...don't you find?
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM

And yes you can spread the risk: you can spread the risk on S.DICE ensuring you make as arbitrarily close to 98.1% of your BTC back as you want. You can spread the risk on your scamsite ensuring you make as arbitrarily close to 77%* of your BTC back as you want.

*except that 77% is an unaudited self-reported figure sprouted by some idiot who has no clue, and the real number is likely closer to under 50%.

Huge letters wont make up for a flawed argument.

Investing on different listings will not produce equiprobable results because of the simple fact that each listing is different, this is simple enough and I will not explain it here.

Also, you cannot spread risk on a dice game because, unlike the listings, each bet has the same chance of winning.

The only thing you can do is place as many bets as you can to get closer to the 98.1% (reduce variance).

hero member
Activity: 756
Merit: 522
The chances of break even are 98.1%. You also can't spread the risk because each bet is equiprobable.

Please stop wasting my time, leave us alone.

Cheeky asswipe, are you.

THE BETS ON YOUR SITE ARE ALSO EQUIPROBABLE, ESL MAN

And yes you can spread the risk: you can spread the risk on S.DICE ensuring you make as arbitrarily close to 98.1% of your BTC back as you want. You can spread the risk on your scamsite ensuring you make as arbitrarily close to 77%* of your BTC back as you want.

*except that 77% is an unaudited self-reported figure sprouted by some idiot who has no clue, and the real number is likely closer to under 50%.
full member
Activity: 196
Merit: 100
many defaults, money lost...

I advise you, you'd better play!!

Satoshidice >>>> BTCJam

The current repayment rate is aprox 77%, if you think dice games are better than this please stay away of peer to peer lending sites.


@Tulkas
I think you may have missed my post requesting a bit of info.

Why after I have loaned money and been repaid can I NOT empty my account fully, why do you hold a balance?


Yes, I've missed your post, sorry.

Please, the 0.005 reserve to pay the transaction cost was explained before on this thread. Please, PM me the address and i will send you the remaining of your account.

Thanks!

Why don't you show it as such and decrement it from the account leaving a balance of $0.00?
 or will it continue to increase each time I place a loan, so that next time my account shows $0.01 and then $0.015?

Please get some sort of system in your website to explain such matters clearly on the accounts page, I already suggested a double entry book-keeping layout.
Also this sort of thing means that your fees are NOT the 1% you state.(or is it included in the 1%)?
Please... when dealing with money there is a requirement to be 100% clear, no matter what the sum.
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM
many defaults, money lost...

I advise you, you'd better play!!

Satoshidice >>>> BTCJam

The current repayment rate is aprox 77%, if you think dice games are better than this please stay away of peer to peer lending sites.

They actually are. S.DICE repayment rate is 98.1%. Please stay away from the Internets, you're breaking it.

The chances of break even are 98.1%. You also can't spread the risk because each bet is equiprobable.

Please stop wasting my time, leave us alone.
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM
many defaults, money lost...

I advise you, you'd better play!!

Satoshidice >>>> BTCJam

The current repayment rate is aprox 77%, if you think dice games are better than this please stay away of peer to peer lending sites.


@Tulkas
I think you may have missed my post requesting a bit of info.

Why after I have loaned money and been repaid can I NOT empty my account fully, why do you hold a balance?


Yes, I've missed your post, sorry.

Please, the 0.005 reserve to pay the transaction cost was explained before on this thread. Please, PM me the address and i will send you the remaining of your account.

Thanks!
full member
Activity: 196
Merit: 100
Well  If I don't start getting some answers soon , I'm going to be asking for a "tag"

Because, either my understanding is wrong ORthe service is not charging  what it is supposed to be.

My understanding:
Basically we lend funds and there is a SET % deducted for handling the business.

So that means if I put money in and it is paid back with interest, I should be able to REMOVE all the funds, (since they deduct the % before the loan)

But now I find out I cannot remove all the funds and instead I get an "Error executing transaction.", and when I ask questions I am referred to the forum here.
But I'm not getting the answers to some very simple questions.

1. WHY can I not remove all my funds (is it a bug or something else)
2. Exactly what is the % charge, I have been told it is 1% of the loan.



hero member
Activity: 756
Merit: 522
One is luck, the other is skill. For every 1,500 BTC ahead that you show me, I can show you a bunch of people who are 1,500BTC combine behind

That's the very argument, both are pure luck.
legendary
Activity: 1680
Merit: 1035
You also need to factor in the expected return. Besides, anyone who is smart enough to filter through obvious scams and be a little responsible can get a much better return than from a dice game.

Quote
i'm only up 1500 btc on the site....

I'm guessing I don't need to specify what site that is.

Now you show me who's 1500 BTC ahead on this thing and I show you another one on S.DICE. And we keep going 'till you give up.

One is luck, the other is skill. For every 1,500 BTC ahead that you show me, I can show you a bunch of people who are 1,500BTC combine behind
legendary
Activity: 1498
Merit: 1000
December 23, 2012, 08:10:16 PM
Currently its all over the F**ing place.

If you are going to run a financial service, then at least FOLLOW good accountancy practices.

They will get right on it now, LMAO People in this thread are retarded, I read this and get stupider from it LMAO
hero member
Activity: 756
Merit: 522
You also need to factor in the expected return. Besides, anyone who is smart enough to filter through obvious scams and be a little responsible can get a much better return than from a dice game.

Quote
i'm only up 1500 btc on the site....

I'm guessing I don't need to specify what site that is.

Now you show me who's 1500 BTC ahead on this thing and I show you another one on S.DICE. And we keep going 'till you give up.
full member
Activity: 132
Merit: 100
You also need to factor in the expected return. Besides, anyone who is smart enough to filter through obvious scams and be a little responsible can get a much better return than from a dice game.
hero member
Activity: 756
Merit: 522
many defaults, money lost...

I advise you, you'd better play!!

Satoshidice >>>> BTCJam

The current repayment rate is aprox 77%, if you think dice games are better than this please stay away of peer to peer lending sites.

They actually are. S.DICE repayment rate is 98.1%. Please stay away from the Internets, you're breaking it.
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