Topic: What's going on with BTCJAM.com ? - page 2. (Read 1295 times)
I guess it's not the ability to authentify documents, they do great work for authentication (through live person call, dedicated photos to btcjam etc ...), it's more about the ability to track down every one running out with the money, it's not that easy to open cases worldwide ... there's different laws, different systems, and one more thing: bitcoin is forbidden in many countries in the world, so how will them pursue someone through his local laws ?
Yes i agree, since they couldn't run their business properly it was a better to close intead the damages it could lead to them
Twitter is pretty much dead and they didn't announce anything there. I believe they stopped loan requests because the scam level was so high and they couldn't stop it anymore, I find it as a good decision personally as everyone was scamming using fake accounts and ID's. While googling, It says It's permanently closed (I assume their offices):
wow, this makes me feel wow. I always thought BTCjam was doing real good even with their credibility rating system, you could pick different types of loan. Seems that account ID with personal details just couldn't secure the business good nuff :/
I had have reservations about this service simply because of the fundamental issue about bitcoin which makes the lending service almost impossible to run in the long-term. Even in the real world where bank loans people money, they do a lot of verification with lots of collateral aside that, people still default not to talk of online where no one knows where the other lives, I don't expect something on the contrary to what has happened to happen.
BTCJam wasn't doing that great lately, despite their efforts it is not possible to keep bitcoin lending business complexly scam-free.
I am not sure if their closure was caused by regulatory pressure - like in the case of BitLendingClub or BTCJam just couldn't keep up with rising scam level (or maybe something else).
It's quite unfortunate because BTCJam was the most popular bitcoin lending platform in the industry founded back in 2013. I always thought they are doing fine...
I am not sure if their closure was caused by regulatory pressure - like in the case of BitLendingClub or BTCJam just couldn't keep up with rising scam level (or maybe something else).
It's quite unfortunate because BTCJam was the most popular bitcoin lending platform in the industry founded back in 2013. I always thought they are doing fine...
I remeber making an account to those bitcoin lending platforms and one of them was btcjam. Yes because of its popularity, I thought that they can handle the scams well but after searching some stuffs . The number one flaw was already noticeable, And that is when personal documents are counted as collateral . Faking them is just so common these days. If you can't verify well if the document is real or not then its better not to . Those documents are useless when the borrower runs with your money .
BTCJam wasn't doing that great lately, despite their efforts it is not possible to keep bitcoin lending business complexly scam-free.
I am not sure if their closure was caused by regulatory pressure - like in the case of BitLendingClub or BTCJam just couldn't keep up with rising scam level (or maybe something else).
It's quite unfortunate because BTCJam was the most popular bitcoin lending platform in the industry founded back in 2013. I always thought they are doing fine...
I am not sure if their closure was caused by regulatory pressure - like in the case of BitLendingClub or BTCJam just couldn't keep up with rising scam level (or maybe something else).
It's quite unfortunate because BTCJam was the most popular bitcoin lending platform in the industry founded back in 2013. I always thought they are doing fine...
Twitter is pretty much dead and they didn't announce anything there. I believe they stopped loan requests because the scam level was so high and they couldn't stop it anymore, I find it as a good decision personally as everyone was scamming using fake accounts and ID's. While googling, It says It's permanently closed (I assume their offices):
Hi guys,
Since some weeks btcjam seems to be on freeze, no new listings at all ! it's like no one is still borrowing on that platform.
Some say btcjam is over, it's closed, but meanwhile i'm receiving payouts from guys who borrowed from me ...
Anyone have an idea ?
Since some weeks btcjam seems to be on freeze, no new listings at all ! it's like no one is still borrowing on that platform.
Some say btcjam is over, it's closed, but meanwhile i'm receiving payouts from guys who borrowed from me ...
Anyone have an idea ?
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