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Topic: BTCjam - Any Thoughts or Experiances - page 24. (Read 57514 times)

member
Activity: 126
Merit: 10
April 02, 2015, 05:12:42 PM
From my experience you cant avoid scam or fails, you can be more carefull but you cant avoid it even from the most reputable members , always there will be red in your calender, i have sell more than 200 overdue notes (and think that, i am small investor) and burn more than 4BTC there and still fall on scams or failed, with new red coming everyday..Anyway you can stay more carefull as i said but is not easy to stay green on all..The positive is that you learn a lot of things around, you help people, (also) earn interest and have experience.

Kind Regards,
BTC-Bank.
full member
Activity: 168
Merit: 100
Yoohoo
April 02, 2015, 12:47:50 PM
Well, my first invest was not that bad but next one was scam and lost 0.0025 (yes, amount is really small but I don't have much coins deposited on btcjam.)

I'm going to forget about them after I receive other pending payments.
newbie
Activity: 18
Merit: 0
March 31, 2015, 12:58:11 PM
Thank you! will look one more time and will try to understand how they do it.   
member
Activity: 126
Merit: 10
March 31, 2015, 12:39:33 PM
Grin Grin Grin

BTC-Bank - Thank you a lot!


May be as more experienced you can help me with my original questions:


How you calculate return on BTCjam.

it is quite simple to see what are dates and amounts of my deposits. Seems I can see received Interest (as one sum)

But I have problems to understand what are my outstanding principals today.

Also I cannot understand where to find info about gain/losses when I am buying/selling notes.

Also, anybody need split between principals and interest - I think it is base to declare taxes (as example). I am right that at BTCjam all is mixed together?

Thank you for any advise or links describing calculation of xirr at btcjam.



You welcome @ders01!  Smiley

My explanation is with some words nothing special as i cant explain you exactly because i dont know how they calculate things in BTCjam,

Well your question about interest it can be found in every loan per week, per month etc. with days of payment before you invest, if you want see the exact amount without calculate it, you will see how much you will receive or the amount left after your invest if you go to your notes section and type or search the name of the borrower.

About the total amount there is the Net Annualized Return board on the dashboard and also in the investments section with the Received and Invested stats But when you trading notes this it will effect the numbers and give you a false as the system it doesn't count it as it is.In my opinion the right way if you dont want to miss any stats you can write it your own.

Now about the buying and selling Notes, when you are going to buy a note which is current and not funding it shows you the actual interest remaining and you can see if this is profitable for you.When you are going to sell a note you have to calculate you own and add 4%(not necessary in some cases) on the remaining amount which must be under the interest price, this is the fee for trading Notes but in general you have to low more the amount to be more attractive for someone to buy it then if you are happy with the result you sell it,(on overdue loans which you think it doesnt worth you may sell it much lower to be more attractive).

More information can be found on the official BTCjam blog here: http://blog.btcjam.com/

Kind Regards,
BTC-Bank.

newbie
Activity: 18
Merit: 0
March 31, 2015, 12:08:19 PM
 Grin Grin Grin

BTC-Bank - Thank you a lot!


May be as more experienced you can help me with my original questions:


How you calculate return on BTCjam.

it is quite simple to see what are dates and amounts of my deposits. Seems I can see received Interest (as one sum)

But I have problems to understand what are my outstanding principals today.

Also I cannot understand where to find info about gain/losses when I am buying/selling notes.

Also, anybody need split between principals and interest - I think it is base to declare taxes (as example). I am right that at BTCjam all is mixed together?

Thank you for any advise or links describing calculation of xirr at btcjam.

member
Activity: 126
Merit: 10
March 31, 2015, 12:05:35 PM

Pretty much my experience too.   The given advice of diversifying only gets you a lot more useless arbitrations.   Too little money per award to really go after someone.   

This arbitrage cost you something? Have anybody seen any starts about recovery of debts?

I think that you mean arbitration, (arbitrage is an advantage between two or more prices where you can invest in both or all with a sure profit as result).I have a ton of arbitration, in my opinion is totally useless.

Now about the recovery of debts it can be happen if the borrower wasn't a scam or identity thief and decides to pay back.This is the only way i have see so far to get back anything...  Smiley

Note: It was only one time when BTCjam found that the borrower was an identity thief,  around four months after he was overdue and refund us the whole investing amount.

Kind Regards,
BTC-Bank.
newbie
Activity: 18
Merit: 0
March 31, 2015, 10:30:42 AM

Pretty much my experience too.   The given advice of diversifying only gets you a lot more useless arbitrations.   Too little money per award to really go after someone.   

This arbitrage cost you something? Have anybody seen any starts about recovery of debts?
hero member
Activity: 854
Merit: 510
March 31, 2015, 09:07:26 AM
Too many scammers, I've lost 0.5 BTC there and all I have is an e-mail account full of arbitrations, there's no real protection for the investor.
Stay away!

Pretty much my experience too.   The given advice of diversifying only gets you a lot more useless arbitrations.   Too little money per award to really go after someone.   
full member
Activity: 134
Merit: 100
March 31, 2015, 08:15:02 AM
Too many scammers, I've lost 0.5 BTC there and all I have is an e-mail account full of arbitrations, there's no real protection for the investor.
Stay away!
newbie
Activity: 18
Merit: 0
March 31, 2015, 07:41:55 AM
HI,

I will be glad if somebody can share experience how you calculate return on BTCjam.

it is quite simple to see what are dates and amounts of my deposits. Seems I can see received Interest (as one sum)

But I have problems to understand what are my outstanding principals today.

Also I cannot understand where to find info about gain/losses when I am buying/selling notes.

Also, anybody need split between principals and interest - I think it is base to declare taxes (as example). I am right that at BTCjam all is mixed together?

Thank you for any advise or links describing calculation of xirr at btcjam.

Thanks!
hero member
Activity: 616
Merit: 500
March 28, 2015, 12:33:44 AM
Ya lost my money nearly 12$ and I also don't know how to recover without spending a penny
sr. member
Activity: 406
Merit: 250
March 26, 2015, 03:50:19 PM
It all comes down to the question of collateral. The first company which sucessfuly deals with this ll be market maker. ATM, it s simply very hard to trust people you lend BTC to, even with differentiation of loans, you ll end up with a lot of them in default.
member
Activity: 98
Merit: 10
March 25, 2015, 09:39:54 PM
I've gone ahead and created a loan listing. Great to read people's feedback here.
member
Activity: 126
Merit: 10
March 25, 2015, 09:21:57 PM
Hello @BTCballa it is the fees from BTCjam.Every time you will take a loan BTCjam will take a fee from it.In this case of your loan is 0.01BTC and when you take a bigger one the fee percent it will be greater except if you take a loan which is more than 5 BTC then the fee percent is lower. .I hope that i helped!

Kind Regards,
BTC-Bank.
member
Activity: 152
Merit: 10
March 25, 2015, 09:14:29 PM
perhaps off topic, but i got my first loan approved. it was for .25 but i only received .24. any info on this would be appreciated
 
member
Activity: 126
Merit: 10
March 12, 2015, 04:17:57 PM
Hi @TriggerX what do you mean by post it here?I am investor and borrower too on BTCjam for almost 10 months now and i agree with you BTCjam ask for alot of personal information but this is to make it as more secure as it can be... this ''verify'' in my opinion doesnt make it real ''secure'' and everyone who have invest there knows it.I believe that they can take bigger security measures to improve it..
I really dont find it as good opportunity for someone new without experience to start investing there but my friedly advise for anyone reading this and want to involved with is to just follow, watch and see how the system works before invest, dont get blind by big interests only and learn how to avoid scams (at least those that scream).I have see alot of people burned and special borrow to get burned in the end...

Kind Regards,
BTC-Bank.

It isn't a secure investment and there are still far to many scammers.   The arbitration award is a joke, if someone owes you less than $10 (US), there really isn't much you can do about it.   I probably have 30 or 40 of these now.   The sum is a lot but each one is hard to recover. 

So far I have 1302 payments received and 198 that are overdue.   This mostly A & B loans.   If you are investing in lower grade loans you'll probably run into a lot more scams.   Frankly at this point I doubt I ever get back to my investment amount.

We are saying the same @dyask!This is the reason i give it a caution on my post.I have 9230 paid 1779 pending 40 overdue at the moment i used to have more overdue (around 250) but i am trading them before arbitration as i dont find it useful at all .I am still a learner but i really like the idea and all the concept.I learn alot of new people around the world i saw a lot of ideas on loans, i improve my self to avoid scammers and final i really like to help real people wich trying for the dreams.I wont stop investing there as i believe that i have still to take a lot of knowledge via my investments or my loans.As i said before opportunity not exactly but it can be profitable with time..

Also about investing risks and losses there are everywhere i am not hunting them or wait for them i am just move on.I just hope that BTCjam will increase securities and respond to scam alert to avoid big scammers.

Kind Regards,
BTC-Bank.
hero member
Activity: 854
Merit: 510
March 12, 2015, 05:39:23 AM
Hi @TriggerX what do you mean by post it here?I am investor and borrower too on BTCjam for almost 10 months now and i agree with you BTCjam ask for alot of personal information but this is to make it as more secure as it can be... this ''verify'' in my opinion doesnt make it real ''secure'' and everyone who have invest there knows it.I believe that they can take bigger security measures to improve it..
I really dont find it as good opportunity for someone new without experience to start investing there but my friedly advise for anyone reading this and want to involved with is to just follow, watch and see how the system works before invest, dont get blind by big interests only and learn how to avoid scams (at least those that scream).I have see alot of people burned and special borrow to get burned in the end...

Kind Regards,
BTC-Bank.

It isn't a secure investment and there are still far to many scammers.   The arbitration award is a joke, if someone owes you less than $10 (US), there really isn't much you can do about it.   I probably have 30 or 40 of these now.   The sum is a lot but each one is hard to recover. 

So far I have 1302 payments received and 198 that are overdue.   This mostly A & B loans.   If you are investing in lower grade loans you'll probably run into a lot more scams.   Frankly at this point I doubt I ever get back to my investment amount.
member
Activity: 126
Merit: 10
March 11, 2015, 09:56:31 PM
Hi @TriggerX what do you mean by post it here?I am investor and borrower too on BTCjam for almost 10 months now and i agree with you BTCjam ask for alot of personal information but this is to make it as more secure as it can be... this ''verify'' in my opinion doesnt make it real ''secure'' and everyone who have invest there knows it.I believe that they can take bigger security measures to improve it..
I really dont find it as good opportunity for someone new without experience to start investing there but my friedly advise for anyone reading this and want to involved with is to just follow, watch and see how the system works before invest, dont get blind by big interests only and learn how to avoid scams (at least those that scream).I have see alot of people burned and special borrow to get burned in the end...

Kind Regards,
BTC-Bank.
hero member
Activity: 826
Merit: 1000
March 11, 2015, 05:54:12 PM
I don't really like BTCjam and if I ever need a loan I usually post it here. I think BTCjam requires too much of my personal info to get a trade. While investing is pretty profitable the only time you will see my use BTCjam is investing.
member
Activity: 126
Merit: 10
March 11, 2015, 04:39:07 PM
OMG! It's hidden under payments!!! Why they don't have it under loans tab? Thank you! (Im "User #666" in there)

I don't quite understand your question but i think you asking how you can pay it.
You can go to the payments tab and on the bottom of the pages you will the buttons for each day which says ''pay now'' hit them one by one follow what is saying and when you push it all one by one thats it you have paid it!

Which member you are, if you dont mind for asking?

Kind Regards,
BTC-Bank

Ok happy that you find it!My pleasure to help i have also follow you there!

Kind Regards,
BTC-Bank.
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