Unfortunately I was a little bit too optimistic on that 2 weeks forecast. We plan to use the personal information to collect the debts but we cannot simply hand it to lenders (as much as we sometimes want to do it).
I've just updated the service numbers:
loans: 312
total payments: 1463
payments late: 333
fully repaid loans: 155
We have a repayment rate of 77.23%
This doesn't look like a "scammer heaven" at all.
The listings are as good as the borrowers who make then, as far as censoring the "scammy" listings we are not sure about that.
77% repayment rate IS scammer heaven.
Let's do some math!
Average loan duration 1 month, average repayment rate 77%, average interest rate 5% per month.
January: start with 1000 BTC, get back 770 btc + 5% interest, for a total of 808.5 BTC
February: start with 808.5 BTC, get back 622.545 btc + 5% interest, for a total of 653.67225 BTC
March: start with 653.67225 BTC, get back 503.3276325 btc + 5% interest, for a total of 528.494014125 BTC
April: start with 528.494014125 BTC, get back 427.28741042 btc + 5% interest, for a total of 448.651780941 BTC
May: start with 448.651780941 BTC, get back 345.461871325 btc + 5% interest, for a total of 362.734964891 BTC
June: start with 362.734964891 BTC, get back 279.305922966 btc + 5% interest, for a total of 293.271219114 BTC
July: look at your 293.271219114 BTC which spells out a 70% realized loss over barely six months and think about what a retard you were.
Once the GLBSE scam mothership is out of the way, Average Forum Idiot is desperately looking for some new ways to ensure his customary BTC losses. All the while telling himself that he's oh so great and "If you know what to look for you won't get one that defaults."
Too stupid to live is the term of art.
What planet are you from, seriously? 77% repayment means 23% loss, which works out to a staggering -95.7% API if your average contract is one month (if we use a closer-to-reality 3 weeks, it's -99% API). One Bitcoin "invested" on your scamplatform today will yield something on the order of 0.01 BTC on December 21, 2013, on average. Even miner bonds are better bang for the buck.
Learn 2 math. Preferably
before you purport to offer Bitcoin services.