BTCjam - Any Thoughts or Experiances - page 33.

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: BTCJamSupport on March 04, 2014, 03:34:15 PM

The scammers and dishonest people are a minority within our community, that are decreasing day by day. When a borrower activates his/her loan, they are under a legally binding contract called arbitration, and the personal information of the borrower will be handed to the investors if they do not pay back on their loans (See more below). However, currently, our repayment rates are above 90% and investors are getting 19% APR on average.

Bullshit! Your site encourages scammers!

I have been posting warning messages when a user tries to take out more than one (6!!) loans at once, only to be emailed by your support saying I am harassing users and my account will be locked. Just over a simple warning message!

You really don't care what scams go on as long as you get your cut.

https://btcjam.com/users/9705

BTCJamSupport

full member

Activity: 135

Merit: 100

Support for the global P2P lending platform:BTCJam

The scammers and dishonest people are a minority within our community, that are decreasing day by day. When a borrower activates his/her loan, they are under a legally binding contract called arbitration, and the personal information of the borrower will be handed to the investors if they do not pay back on their loans (See more below). However, currently, our repayment rates are above 90% and investors are getting 19% APR on average.

See here as to why we think investing with BTCJam is such a great idea:
http://blog.btcjam.com/post/75930899818/why-invest-with-btcjam

And here is what happens when someone doesn't pay back:
http://blog.btcjam.com/post/78529756680/what-happens-when-a-borrower-does-not-pay-back-his

To minimize risk and increase returns, read this:
http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investors

superresistant

legendary

Activity: 2142

Merit: 1131

It is SHIT.

What they don't tell you is that, when you lend, they will give you back much less than what you gave because "the value increased so it is the same".

Fuck it.

SlidingHorn

full member

Activity: 196

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

Quote from: Julia Sanders on March 04, 2014, 02:21:27 PM

I LOVE BTCJam. Excellent source of coins without having to mine Grin

To the OP: See the account above? See the big red SCAMMER tag?

That's exactly what you're going to find at btcjam...and they're not as easily identified.

Julia Sanders

newbie

Activity: 38

Merit: 0

I LOVE BTCJam. Excellent source of coins without having to mine Grin

DoctorEvil

newbie

Activity: 8

Merit: 0

Hi All,

I have thought about playing with BTCjam for a while and thought I would see if anyone else is using/having much success with it?

It clearly has more than its fair share of scammers, but it appears to also have a lot of legit projects or personal loan requests that don't look too silly.

I am a little confused how they state the interest rate for the loans and I have emailed BTCjam twice from both my work and personal gmail acocunts and have not received any reply to my question at all, which seriously discourages me from bothering with their platform.

Take a look at this example: https://drive.google.com/file/d/0B2JYIgMaP7k8eFVWTkZ0cjcyVFU/edit?usp=sharing
How is the interest in this example calculated? Is it 20% of the outstanding balance per month? I cant get it to add up.

Moving on, does anyone have any suggestions for alternatives to BTCjam, preferably project investments or providing liquidity to traders, that kind of stuff?

Best,

-Evil

Topic: BTCjam - Any Thoughts or Experiances - page 33. (Read 57488 times)