Best website to give out loans? Btcjam or ? - page 9.

pbleak

legendary

Activity: 924

Merit: 1001

Quote from: BillyBobZorton on January 30, 2015, 09:46:00 AM

Quote from: Madness on January 30, 2015, 09:33:06 AM

Quote from: AtheistAKASaneBrain on January 30, 2015, 09:23:21 AM

Hows the rate of scammed lenders if you do it in this forum vs in centralized sites like BTCJAm?

If you scam him , you get nothing but Negative trust feedback
If you scam on BTCJam , I'am pretty sure that they do take huge measures (not sure if jail is included) since they do take ID Verifications on the website otherwise you can't take loans as far as I know .

But can you be a lender without giving ID shit? It kinda defeats the point of bitcoin when you need to give your damn ID.

You can lend without ID yes. Only borrowers need to confirm it.

pbleak

legendary

Activity: 924

Merit: 1001

Quote from: Madness on January 30, 2015, 09:33:06 AM

Quote from: AtheistAKASaneBrain on January 30, 2015, 09:23:21 AM

Hows the rate of scammed lenders if you do it in this forum vs in centralized sites like BTCJAm?

If you scam him , you get nothing but Negative trust feedback
If you scam on BTCJam , I'am pretty sure that they do take huge measures (not sure if jail is included) since they do take ID Verifications on the website otherwise you can't take loans as far as I know .

Em no, a defaulted loan means everyone gets the ID. They can then choose to chase up the money IRL using the details via arbitration. BTCJam does nothing on behalf of the lenders beyond this.

chipzac

newbie

Activity: 9

Merit: 0

from my experience BTCJam is full of scammers. Still the best place to loan/get loans. Just keep both eyes open

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: Madness on January 30, 2015, 09:33:06 AM

Quote from: AtheistAKASaneBrain on January 30, 2015, 09:23:21 AM

Hows the rate of scammed lenders if you do it in this forum vs in centralized sites like BTCJAm?

If you scam him , you get nothing but Negative trust feedback
If you scam on BTCJam , I'am pretty sure that they do take huge measures (not sure if jail is included) since they do take ID Verifications on the website otherwise you can't take loans as far as I know .

But can you be a lender without giving ID shit? It kinda defeats the point of bitcoin when you need to give your damn ID.

Madness

hero member

Activity: 644

Merit: 500

My goal is becaming a billionaire.

Quote from: AtheistAKASaneBrain on January 30, 2015, 09:23:21 AM

Hows the rate of scammed lenders if you do it in this forum vs in centralized sites like BTCJAm?

If you scam him , you get nothing but Negative trust feedback
If you scam on BTCJam , I'am pretty sure that they do take huge measures (not sure if jail is included) since they do take ID Verifications on the website otherwise you can't take loans as far as I know .

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Hows the rate of scammed lenders if you do it in this forum vs in centralized sites like BTCJAm?

lexuz

hero member

Activity: 714

Merit: 500

Me, myself and I

Quote from: pbleak on January 28, 2015, 08:35:45 AM

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

What do u mean jam scam?

pbleak

legendary

Activity: 924

Merit: 1001

Quote from: neurotypical on January 28, 2015, 12:26:53 PM

Quote from: pbleak on January 28, 2015, 08:35:45 AM

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

70% scam?

Who is bigger risk of being scammed, the loaner or the guy that asks for the loan?

The lender.

Madness

hero member

Activity: 644

Merit: 500

My goal is becaming a billionaire.

Quote from: forzendiablo on January 03, 2015, 12:33:55 AM

I saw btcjam but i assume there must be more.

WHich website is best and most secure and which one do you guys use?

I want to enter one of them but suely i wont enter if loads of newbies post its great Wink

I want to hear some real voices + reasons of the choose

BTCjam is the most know as far as I know and also they have a thread here so if you have any issues or questions just post on their thread , I don't think there is other websites simillar , still you can take or give loans here on Bitcointalk forums => Section "Lending" Wink

~ Madness.

neurotypical

hero member

Activity: 672

Merit: 503

Quote from: pbleak on January 28, 2015, 08:35:45 AM

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

70% scam?

Who is bigger risk of being scammed, the loaner or the guy that asks for the loan?

sethminer14

member

Activity: 98

Merit: 10

I've used BTCJam and it has been working out so far for me. Just make sure the person you invest in is very trustworthy and has made payments before.

pbleak

legendary

Activity: 924

Merit: 1001

Quote from: Wendigo on January 28, 2015, 09:33:29 AM

Quote from: pbleak on January 28, 2015, 08:35:45 AM

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

Is this true that 70% of the loans are scams? What about the countermeasures that the site is employing?

Well I'm not talking hard stats here. Just spend some time as an investor over there and you'll see there's a huge split between people who come in and are scammed easily and a small core community that invests mostly with each other or very trusted members.

Countermeasures are net-arbs. Which is basically useless.

Wendigo

legendary

Activity: 2604

Merit: 1036

Quote from: pbleak on January 28, 2015, 08:35:45 AM

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

Is this true that 70% of the loans are scams? What about the countermeasures that the site is employing?

pbleak

legendary

Activity: 924

Merit: 1001

Quote from: AtheistAKASaneBrain on January 27, 2015, 10:57:10 PM

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

Jam is Brazilian. Where did you get Chinese from? It is scam heavy though. I'd say sometimes 70% scams, 30% not.

fearlesscat10

hero member

Activity: 686

Merit: 500

Quote from: RAVENCROW on January 27, 2015, 09:22:58 PM

Definitely support btcpop.co as a new alternative! I'll be slowly moving more funds there from jam to invest.

How much did you invest? And how was your experience there so far?

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

I have been considering entering BTCJam for an investment for a year or so now, afaik they are chinese... i just dont know if i can trust btc related businesses yet, so many people scamming and getting away with it because no one cares since thats a downside of not having big regulations.

RAVENCROW

full member

Activity: 169

Merit: 100

Definitely support btcpop.co as a new alternative! I'll be slowly moving more funds there from jam to invest.

pbleak

legendary

Activity: 924

Merit: 1001

Jam is risky. Try to follow the big lenders - see which names pop up a lot - and try to only fund people that survive proper questioning. Don't fund anything with a rate above 8% (MAX) and even then only if the borrower has a long history/plan.

w00dface

newbie

Activity: 49

Merit: 0

A lot of them issues are addressed on Pop.

Those who use Jam will recognize a lot of the big investors

The facebook group is here -> https://www.facebook.com/groups/394911060685164/

JamesBrown

member

Activity: 98

Merit: 10

Quote from: Feri22 on January 14, 2015, 10:25:37 AM

I lost 5 BTC in BTCJam back in 2013...the support didn't really give a f*ck abou it...they don't care much if someone will scam you...So i would avoid the lending websites...mostly the users are paying back until they don't...so it is kind of ponzi schemers there

Its a game of numbers. They are not a ponzi, they are venture backed Sil Valley IT company trying to do something innovative that is expanding the btc ecosystem.
Sheesh whats with the haters here...

You have to realize the risks. When 100pple, fund with 1$ some1 from vietnam and they surprisingly disappear no1 is going to go after them probably. Same would be true for some Latin America nations...
Lost 5BTC? Their default rate is ~4%, did you bet on 1 loan only?
If VC firms invested like this they would all be broke.

Two main ideas:

Lend to pple in countries that have working infrastructure or with many recommendations
Lend very small amounts to many loans.

Topic: Best website to give out loans? Btcjam or ? - page 9. (Read 17075 times)