"Long-term offers" - gonna have to tackle this 1 eventually - page 4.

theymos

administrator

Activity: 5222

Merit: 13032

Quote from: Micon on September 01, 2012, 11:54:52 AM

this is not the correct name for high-interest borrowing scams

The section is for long-term offers, not just HYIPs.

Having forum staff decide whether specific investments are dangerous is definitely something I don't want. Exact rules for what constitutes a HYIP could be defined, but services that don't meet the HYIP definition probably won't be that much safer than HYIPs. And interest rates in the Bitcoin ecosystem are much higher than traditional interest rates, so it's difficult to determine the correct limit. I think a policy of caveat emptor makes the most sense.

Shadow383

sr. member

Activity: 336

Merit: 250

Quote from: n8rwJeTt8TrrLKPa55eU on September 01, 2012, 12:25:49 PM

Quote from: Micon on September 01, 2012, 11:54:52 AM

1) this is not the correct name for high-interest borrowing scams

Agree, I think a better classification or subforum would be "high-risk" or "buyer beware".

Lowest quality debt rated CCC, or Distressed securities, are commonly defined as those yielding 1500 basis points over equivalent government bonds. So I would put anything with an equivalent yearly rate above

1-year USA T-Bond Rate (currently 0.2%) + 15% = 15.2%

into a high-risk subforum.

No.

The easiest way to weed out all the scams would be to require lenders to provide proof of identity, location, current employment etc etc to the forum staff, on the understanding that in the event of a fraud these details will be made public and reported to the relevant authorities.
You could also require all lenders in the lending forum to make public spreadsheets detailing their assets and liabilities. This would have stopped BS&T very quickly.

Put those that don't meet this requirement in a High Yield Investment Programs (HYIPs) category.

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

Quote from: Micon on September 01, 2012, 11:54:52 AM

1) this is not the correct name for high-interest borrowing scams

Agree, I think a better classification or subforum would be "high-risk" or "buyer beware".

Lowest quality debt rated CCC, or Distressed securities, are commonly defined as those yielding 1500 basis points over equivalent government bonds. So I would put anything with an equivalent yearly rate above

1-year USA T-Bond Rate (currently 0.2%) + 15% = 15.2%

into a high-risk subforum.

lebing

legendary

Activity: 1288

Merit: 1000

Enabling the maximal migration

Agree.

Micon

legendary

Activity: 1232

Merit: 1014

FPV Drone Pilot

1) this is not the correct name for high-interest borrowing scams

2) in the wake of BCST, are you guys going to really keep this stickied here??? https://bitcointalksearch.org/topic/who-pays-what-81542 This is simply a list of Ponzi schemes that a long time users is saying have "AA" credit ratings and whatnot. This is totally, 100% unacceptable - didn't we just do this? This forum shouldn't give free advertising to scammers IMO.

3) https://bitcointalksearch.org/topic/bryan-micons-list-of-non-bcst-ponzis-still-running-with-credit-rating-105285 I am going to dissect each still running Ponzi. Can't let them get away with it again, can we?

Topic: "Long-term offers" - gonna have to tackle this 1 eventually - page 4. (Read 6604 times)