Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 79. (Read 204975 times)

Fantastic: the calendar is really nice!!

It happened again, I managed to get a snip of what it said.
I had over 8BTC I wanted to withdraw 5.32, I got this message, and 5.315 was sent.



You say there is now a message on the withdraw page stating this 0.005 Fee but i did not see it.

EDIT - Love the calender on the payments received page! good work.

We wait 6 confirmations before you can move the bitcoins.

About the 0.0045 left on the account, its yours, we will not touch it, we do not allow zero fee transactions because they can take a long time to be processed and we think miners deserve the fee.

The fee processing code will be updated soon to handle full withdraw. I'm sorry for your inconvenience, if you need the 0.0045 right now please PM me and i will send it to you.

Interesting operation! Browsing through the different pages, made an account, put two bitcoins in. They are listed as "unconfirmed" it seems. Attempted to take the two bitcoins out, just to verify free flow of travel in and out (don't care about transaction speed, just proof I can get my money out).

So yeah. It says "Error executing transaction."

Assuming this is simply a need to have my Bitcoins become confirmed, how long does that take?

Thank you for a prompt response in advance.

UPDATE:

Okay. So the bitcoins became confirmed. Tested the withdraw process by removing 1 bitcoin.

.995 arrived at destination (okay, so you charged a fee for network use)

And 1.0045 remained in my account.

So you charged .005 when I took out 1 but the remaining about is not 1.

I'm perplexed by the math. Maybe I just need more beers and I'm just tired. Tried to withdraw the remaining 1.0045 just to see what'd happen but now I have to wait ten minutes. Again, would have enjoyed an option for a zero fee transfer out with whatever delay needed for it to occur (fyi).  Will update when I have more info.


UPDATE AGAIN:

Transferred out 1.0045 which was received off site as "0.9995"

in my balance on site is 0.0045.

..... so basically, I can never actually remove all of my funds on deposit. That greatly concerns me. Yes, this is "penny pinching" of me to say, but hey, all those little numbers add up and if I can't even access my entire money and get charged on the way out, that makes me pretty unhappy and I haven't even invested any money in the site.

Yes, we are happy too.

Thank you Seal!

streblo,

We implemented the sorting for all relevant fields, the modification is online now.

As for the APR, we are working on that.

EDIT:

The payments calendar is online now too, to help people keep track of payments.

Thanks Tulkas! Seems like your service is growing nicely! 30+ active loans and over 1000btc lent so far. Very promising.

Thanks! this is a very useful feature!

Now to the actual business... when (i.e. how long after payment was due) do you start considering a "late payer" a case you wish to review?

New feature online!

Bitcointalk forum nick name verification, you can now link your forum nickname with BTCJam alias.

dashboard -> settings: "use bitcointalk name"

We are working to give more tools to investors, thanks for the input!

Okay, fair enough. I would still make it clearer. You have more need for capital than loans, so I would cater to investors as much as possible. Such as making "loan amount" and "rate" their own headers and sort by value, not alphabetically. I would also standardize the loan rate with APR, etc. 1%/wk is the same as 4.06%/month, for example.  In this listing, it says the debtor pays out on the 1st of the month, but the term is 30 days. If the loan is distributed on the 25th, when is payment?

This is a great site that could really take off, but I think the ambiguity and cosmetic blemishes will scare investors away.

Just bellow the rate box you will see "You will pay this rate at every payment cycle"

So, if you choose a payment cycle o 30 days with a rate of 1% it means you will be paying 1% per month of interest.

The methodology is better explained here: http://en.wikipedia.org/wiki/Fixed-rate_mortgage#Pricing

Nowhere does it say the period of the rates, e.g., annual.

Hello squall1066, can you please email [email protected] with the withdraw error?

I will see if we can link the accounts.

squall1066, you must be from the UK am I right?

essentially what happened is that Google lost a trademark dispute over gmail in the UK (and IIRC Germany), whereby they are not allowed to provide the service under that name. For that reason UK users have an @googlemail.com domain, but there is no practical difference as both addresses ought to work for you. you can quickly test this by mailing yourself.

Tulkas, Is there a reason your ignoring me? I'm not against you, I like your idea and want to see this grow into something more tangible.

Please don't take my ranting as anger, I'm merely pointing out things to "make better"

In my P.M. which I have not had response to, Basically my e-mail is [email protected] but when I use the quick link gmail login button, It logs me on as [email protected] Is there a way to link these e-mails, As they are the same?

I am now actively lending there, But I'm still worried I cant do a full withdraw, And constantly getting errors. I hope your on this now.

regards
squall1066

First payment received  , and first payment defaulted

When a borrower defaults on a payment does the site allow him time to repay later? If so, for how long?
Also, does the site keep track of the last time a user visited the site?

Now, the default is only of 24 hours so I'm hopeful that he'll pay up soon, but at the same time I was wondering if the site gives borrowers a facility to post announcements/messages regarding the statu so of his belated payment explaining why he is late and when he expects to be able to cover his debt.

Are there penalties involved with repaying late(er than a certain ammount of time after the deadline)?


I do have to add that i'm a bit disappointed that received payments disappear of the list... would be nice to have a "Past payments to you" list as well.

edit:
PS, just browing another listing from the user that defaulted to check, there is no immediate visible tag/notice that a user is late on paying another active loan. You will find out when following the links to existing loans, however it would be nice if under reputation we could have some sort of red tag (e.g. overdue paiments pending or something on those line).

Yes, we are working on a payment calendar along with some charts. CSV not started, you can vote for that feature on our uservoice widget.

A feature I'm really missing from the site which I hope you can provide at some point would be that of having a facility for extracting structured data from the site.

Of particular interest to me, a CSV file detailing the same data as per the "next payments" listing would be very useful.

Regarding reporting loans to debt collection agencies, be careful to make sure your loans have sane terms. I think US passed a law limiting interest loan rates a few years back. A 300% APR loan could be considered impossible to pay back, and will likely not be pursued.