Topic: BTCjam - Any Thoughts or Experiances - page 29. (Read 57536 times)
Got first payout, invested 0.01 into a high interest instant payout reputation loan, got double that back. 2 loans have started, and 2 have yet to be funded. Will update this when I get paid out, or scammed.
I am no lawyer but I suspect that some/most of those loans are above the California(where they are based) usury limits. I am not sure if they apply to these types of loans and I know that btcjam states that they use arbitration in the case of a default but I don't know how well that would hold given the high interest rates.
Trying this out, will tell how it goes. They apparently take the guy to court or arbitrage or whatever, and in 90 days if he doesn't pay back they sue or arrest or something, and we get our money back.
great to hear that you are giving us a try. please make sure to invest in 'safe' listings that don't show the warning and diversify into 50 or more listings for best results. Read here for more information: http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investorsyou can email me at [email protected] if you have any questions around investing.
That would be hilarious if he get scammed just after btcjam pushed him to invest.
Red flag everywhere, btcjam still pretending it's fine, he gives a try.
How could this possibly go wrong ?
Trying this out, will tell how it goes. They apparently take the guy to court or arbitrage or whatever, and in 90 days if he doesn't pay back they sue or arrest or something, and we get our money back.
great to hear that you are giving us a try. please make sure to invest in 'safe' listings that don't show the warning and diversify into 50 or more listings for best results. Read here for more information: http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investors
you can email me at [email protected] if you have any questions around investing.
that assumes there are 50 worth investing in. I saw a lot of what I would consider high risk and most of those were secured against the current bitstamp price. With the price being down like this that is a fairly bad investment.
Trying this out, will tell how it goes. They apparently take the guy to court or arbitrage or whatever, and in 90 days if he doesn't pay back they sue or arrest or something, and we get our money back.
great to hear that you are giving us a try. please make sure to invest in 'safe' listings that don't show the warning and diversify into 50 or more listings for best results. Read here for more information: http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investors
you can email me at [email protected] if you have any questions around investing.
Trying this out, will tell how it goes. They apparently take the guy to court or arbitrage or whatever, and in 90 days if he doesn't pay back they sue or arrest or something, and we get our money back.
Maybe you can look for ppl from the bitcointalk forum. So u can double check 
their forum & btcjam profile. I dont think that anyone with a trusted forum profile would try to scam anyone on btcjam.
their forum & btcjam profile. I dont think that anyone with a trusted forum profile would try to scam anyone on btcjam. OMG people still using this scammers-den despite all warnings ?
Some people just want to throw money out the window.
BTCJam Support bullshit :
The scammers and dishonest people are a minority
Reality :
44% of probability of your money to be gone once you invest it.
invested 1btc too on guys with B+ mark
(...)
two loans that made me lose 1 BTC
(...)
two loans that made me lose 1 BTC
Between 44% to 100% chance of getting scammed on BTCJam.
REDFLAG
My final experience in BTCJam after almost a year, I've invested in 9 loans of A or A+ borrowers.
5 repaid.
4 defaulted.
Almost all of them have a D- or E rating by now.
This means a 44% of probability of your money to be gone once you invest it.
I started with 1 BTC for trying one year ago, now I have 0.1
I will not be posting any opinion or conclussion, this is just my data. Just for all you out there to make your choices.
5 repaid.
4 defaulted.
Almost all of them have a D- or E rating by now.
This means a 44% of probability of your money to be gone once you invest it.
I started with 1 BTC for trying one year ago, now I have 0.1
I will not be posting any opinion or conclussion, this is just my data. Just for all you out there to make your choices.
invested 1btc too on guys with B+ mark and when they got their loan funded the mark went from B+ to E
They faked the identity process
All of their previous loans have been repaid but then they decided to scam people.
Turned out they run away with the $$ !!
On scammed investor of almost 10 000us$ the other one 2500us$
check it by yourself.
So far : BTCjam is not protecting investor at all !
be carefull when investing you are most likely to get scammed.
The two loans that made me lose 1 BTC
https://btcjam.com/listings/19486-loan-for-cloud-mining
https://btcjam.com/listings/19849-rep-builder
Hey guys I've invested into:
https://btcjam.com/listings/16904
When do I get paid out? Is it after it expires or after the 'term'
The borrower can activate the loan before it expires if the loan has been funded at least 70%, when the loan is activated the term is starting so on that example a 365 day loan with daily repayment you will get repayment from the day after the loan is activaed and then every day for a 365 day period. https://btcjam.com/listings/16904
When do I get paid out? Is it after it expires or after the 'term'
Continuously investing smaller amounts. Got scammed few times, but on the other hand got also some good interests on my investments.
My final experience in BTCJam after almost a year, I've invested in 9 loans of A or A+ borrowers.
5 repaid.
4 defaulted.
Almost all of them have a D- or E rating by now.
This means a 44% of probability of your money to be gone once you invest it.
I started with 1 BTC for trying one year ago, now I have 0.1
I will not be posting any opinion or conclussion, this is just my data. Just for all you out there to make your choices.
5 repaid.
4 defaulted.
Almost all of them have a D- or E rating by now.
This means a 44% of probability of your money to be gone once you invest it.
I started with 1 BTC for trying one year ago, now I have 0.1
I will not be posting any opinion or conclussion, this is just my data. Just for all you out there to make your choices.
I saw an advertisement on BlockChain.info for borrowers to get a loan from 6.49% at BTCJam. They playing both sides here, advertising that lenders can make 19% a year and low rates for borrowers. Their main concern is just getting the loans going and collecting their fees. Borrowers and lenders be dammed.
Yes BTCJam is a business. They advertise and they charge for their services. I do agree that their site navigation could be improved a little bit but I have been lending on there for about three months and so far I am very happy. As expected some of my borrowers are defaulting. Most aren't though. Based on my own calculations I am way ahead.
I find that BTCJam is lacking friendly navigation for investigating users. Got annoyed with it and setup a website that collects, displays and calculates the data.
http://btcjam.zaibot.net/
Hope it can help people here with their investment choices.
http://btcjam.zaibot.net/
Hope it can help people here with their investment choices.
I have actually gotten 2 loans from BTCjam, within the same week. Really appreciate all the investors there, well minus the hating investors that threw insults at me for asking for a loan in a lending site. Thats after he invested in my loan listing. I really did get lucky that alot of investors took a chance on me.
Hey guys I've invested into:
https://btcjam.com/listings/16904
When do I get paid out? Is it after it expires or after the 'term'
https://btcjam.com/listings/16904
When do I get paid out? Is it after it expires or after the 'term'
I saw an advertisement on BlockChain.info for borrowers to get a loan from 6.49% at BTCJam. They playing both sides here, advertising that lenders can make 19% a year and low rates for borrowers. Their main concern is just getting the loans going and collecting their fees. Borrowers and lenders be dammed.
So far not so good. Definite gotcha depending upon whether or not loan tied to price of BTC at the time it's initiated and whether interest rate is denominated in BTC or USD.
I invested .15 for my first loan and it was paid back early. I now have about .5 invested now should have .63 when loans are paid back. There is one guy that im not sure if he will pay back but I only invested .0001 on him so im not bothered.
Bit early for me to call any of my investments with btcjam a 'success' as of yet but I can say that I do like the UI. Clean and simple. Doesn't seem to be down very often either unlike other sites I use quite a bit. I'd say insofar as what the platform does it works quite well.
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