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Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 73. (Read 204975 times)

full member
Activity: 126
Merit: 100
Web Programmer, Gamer
November 01, 2012, 12:23:33 PM
It looks as though it drops the rating of people with outstanding loans, possibly to show that they are more of a risk than someone who currently owes nothing?

Lurk, i've sent you a PM, yes the credit rating drop reflects the number of open listings/credit lines you have.

This is not a scammer tag!

Hm, but that sounds silly. If the person can still pay even if they have a lot of loans and payments are made on the due date then they shouldn't have rating lowered.
On the other hand you could add like a credit score to it, like in real life and reflect that with that.
You look at the person and then you see they have many loans repaid and then you wonder why their rating is so low.

im not scamming and i want to pay my loans.....the site will not let me...im frustrated...that is all
Hey if your username is the same as on btcjam I got a payment from you.
Don't know if that makes a difference with any other loans.
full member
Activity: 210
Merit: 101
November 01, 2012, 12:12:06 PM
im not scamming and i want to pay my loans.....the site will not let me...im frustrated...that is all
sr. member
Activity: 385
Merit: 250
November 01, 2012, 10:02:44 AM


New feature/service!

Users with linked bitcointalk accounts will be tagged scammers here if they default on BTCJam.



still dont solve the issue, ONCES the user run the scamm can you provide the info the that user upload to btcjam? in order to start an investigation, i mean if you guys at least verify the phone number, facebook, and even ID, are you guys willing to release the info in case that the scammed investor ask for it?
sr. member
Activity: 295
Merit: 250
November 01, 2012, 06:12:57 AM

New feature/service!

Users with linked bitcointalk accounts will be tagged scammers here if they default on BTCJam.


The integration between financial reputation and broader social reputation is fascinating to watch. Imagine if you had to wear a bright orange hat if you went to a pub where you owed loads of people.

Serious reputation models are one of *the* big game-changers coming out of the side of Bitcoin, imho.
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM


New feature/service!

Users with linked bitcointalk accounts will be tagged scammers here if they default on BTCJam.

sr. member
Activity: 434
Merit: 250
Good question. At what point does someone's formerly good name get appropriately smeared? Is there a set threshold? Is it a judgement call...and if so who's?
sr. member
Activity: 385
Merit: 250
so whats your politic about scammer, i mean you guy release info about a user who is scamming ?  im asking this cause i invest and that user got good rating then suddendly he got drop to 0 rate the guy stop paying the due and scamm a few ones, my question is that in some point he got good  rate and that info is in btcjam so if the investor request the info you guys release it?
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM
is the site down? i deposited some bitcoins to pay off 2 loans and make early payments on another.  I keep getting a message the were sorry something went wrong?
    thanks

Same error here when I try to see the list of payments

PM'd
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM
It looks as though it drops the rating of people with outstanding loans, possibly to show that they are more of a risk than someone who currently owes nothing?

Lurk, i've sent you a PM, yes the credit rating drop reflects the number of open listings/credit lines you have.

This is not a scammer tag!
sr. member
Activity: 272
Merit: 250
It looks as though it drops the rating of people with outstanding loans, possibly to show that they are more of a risk than someone who currently owes nothing?
legendary
Activity: 938
Merit: 1000
is the site down? i deposited some bitcoins to pay off 2 loans and make early payments on another.  I keep getting a message the were sorry something went wrong?
    thanks

Same error here when I try to see the list of payments
full member
Activity: 210
Merit: 101
hmm....im not offering a high rate   and the profits i make are going into paying back previous loans.  i have a few loans listed and only planned to activate one at a time when needed.  my goal is to have my loans paid   with enough extra in my account to cover 4 months repayment on a larger loan for a mining rig.
  I have an investor for USD right now  but he wants 50% of mining profits for the lifetime of the rig.

so once i repay these loans(which is what i was trying to do before all my error msgs) im trying to build up 4 months worth of repayments to cover the waiting period to recieve the rig.

i dont think what im doing is a ponzi....it may be unorthadox...but i wouldnt ruin my rep for a couple hundred dollers.

i hope they fix this soon.
sr. member
Activity: 434
Merit: 250
full member
Activity: 210
Merit: 101
whats a ponzi chain
hero member
Activity: 826
Merit: 1000
why has my rating dropped from 8 to 4  i havent been late or defaulted on any loans....i am in perfect standing?  what did i do to deserve the drop?Huh

Tulkas said this was to lower the chances of a ponzi-chain forming with loans. IIRC
full member
Activity: 210
Merit: 101
why has my rating dropped from 8 to 4  i havent been late or defaulted on any loans....i am in perfect standing?  what did i do to deserve the drop?Huh
full member
Activity: 210
Merit: 101
is the site down? i deposited some bitcoins to pay off 2 loans and make early payments on another.  I keep getting a message the were sorry something went wrong?
    thanks
sr. member
Activity: 272
Merit: 250
Its nice when you get the first payment from someone, removes a least a little bit of the doubt that you may never see your money again!
sr. member
Activity: 352
Merit: 250
Founder, BTCJAM
What happens when people start defaulting on these BTCJam loans?  I have seen quite a few on the site from known scammers on this site.  These loans will not be paid back.

Will a collection agency even accept a BTC debt for collections?  A collection agency will not bring a lawsuit for any amount under $5,000 US anyway so I don't understand how funds will be collected.

Will the owners of BTCJam call the police and tell them that someone stole your bitcoins?  What will the police do about it?  



About calling the police, etc, the collector agencies can and will pursue lower values when we have volume. Also, people will pay the lower values as their credit report will be hurt.

About the defaults:

I would also like to note that the service today is far from perfect, but we believe it represents a major improvement on the rater manual procedures used on this forum, good payers are building good reputation profiles already.

One good thing that is already happening is the scammers are being casted out too, we had two cases of scammers trying to get other accounts verified with no luck.

Takes time to build an ecosystem, but it is being built.

We have several good payers and the majority of loans are being paid on time, that being said we think perhaps we should add more moderation on users and listings instead of just let the "system" regulate itself.
Wait, I thought you said (yesterday) that you weren't reporting defaults to the credit agencies?

We will as soon as we can, I was talking about the feasibility.
legendary
Activity: 1400
Merit: 1005
What happens when people start defaulting on these BTCJam loans?  I have seen quite a few on the site from known scammers on this site.  These loans will not be paid back.

Will a collection agency even accept a BTC debt for collections?  A collection agency will not bring a lawsuit for any amount under $5,000 US anyway so I don't understand how funds will be collected.

Will the owners of BTCJam call the police and tell them that someone stole your bitcoins?  What will the police do about it?  



About calling the police, etc, the collector agencies can and will pursue lower values when we have volume. Also, people will pay the lower values as their credit report will be hurt.

About the defaults:

I would also like to note that the service today is far from perfect, but we believe it represents a major improvement on the rater manual procedures used on this forum, good payers are building good reputation profiles already.

One good thing that is already happening is the scammers are being casted out too, we had two cases of scammers trying to get other accounts verified with no luck.

Takes time to build an ecosystem, but it is being built.

We have several good payers and the majority of loans are being paid on time, that being said we think perhaps we should add more moderation on users and listings instead of just let the "system" regulate itself.
Wait, I thought you said (yesterday) that you weren't reporting defaults to the credit agencies?
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