Bitcoin Forum

Is btcJAM a reliable service to invest int? I just saw a few comments on where to invest BTC thread about BTCJam, checked their website as well. Looked like a reputable website, do any of you guys have invested there?
Should I invest there?

I registered an account at BTCJam last year and there were only 11 investment opportunities.
The platform is reputable,but i can`t say the same thing about most of the people who need loans there.
Even with all the verifications,there are people who refuse to pay their debts.

Just go through one of the similar thread like yours here https://bitcointalk.org/index.php?topic=1661867.0
BTCJam is full of scammers who can easily run away with your bitcoins, i personally don't believe in any of this p2p lending platform. Better you try giving loan in leverage trading, few trusted trading platform have this feature.

It depends on who are you giving your bitcoins (some users are good persons asking for a loan for its dailyes or for a real project and others are scamers). The big problem is that scamers farmed its reputation paying small loans, and disapear after someone gives them a big loan.

Make sure you pick someone with a very high reputation. I gave out loans a couple of times on that website (not that recently), but since I chose people with large amounts of trust, I was not scammed even once. To be honest, I think it is safer to ask for loans on this website (smaller loans ofc), just send collateral as like an insurance and you should be good to go.

There's no penalty for not paying off loans, so scams are rampant. This is normal in the P2P loan world, though (at least in crypto), due to the lack of regulation. It's a high-risk, low-reward system.

I saw some similar threads like this. Its redundant.
https://bitcointalk.org/index.php?topic=499995.0
https://bitcointalk.org/index.php?topic=1171273.0
https://bitcointalk.org/index.php?topic=907216.0
https://bitcointalk.org/index.php?topic=1661867.0
Dont be lazy man. Theres a lot of reviews you can find on google. Just search. You dont have to create redundant thread.

BTCjam not guaranteed youre investment, if youre lending in btcjam
example, if person borrow youre money not pay, your bitcoin can gone and btcjam not replace youre bitcoin

And you don't get access to the borrower's information. BTCJam is the only one with it, and they have never (as far as I'm aware) pursued anyone. There is literally zero incentive to repaying loans there.

I think its a legit lending service to me. Instead of investing on a lending service. Why dont you create your own lending service. Here on this forum, you can offer them loans. But be careful choosing a client. Theres so many scammers here. Some are not paying. So i suggest you require them collateral.

Yeah I have used btcjam for a long time ago but I never really made some huge investments in it like $100 only a few cents and some of loaners have refused to pay me, some of them are really good and they pay you fast and others just using to scam others.

Still if you want to try it you have to know more about the person you are dealing with and ask them amore about their project and never invest much in it.

What's your ROI so far? I get monthly emails. Out of around 30 people loaned to, I'm negative 7.88% there...

Can you share about those "trusted trading platforms"? How do they actually work? Does the platform or service provider give some kind of guarantee?

Going by the informative comments, I say, btcJam is a "no no".

I do not want to invest in btcjam, there are some friends after the investment turned out to be pieces of high costs so that the result is very small. 3℅ month average rate that was promised, but having counted less than 3 percent. If you want to borrow, perhaps it was better.

the site has been around for a while. and in this duration there have been many people who lent and borrowed money and there have been lots of complaints too. you should search for them.
i wanted to invest there some day but after reading the complaints and seeing how many were scammed, i decided against it.
i love my bitcoins too much to risk them like this :)
and besides if you want to lend bitcoin do it on the forum so that you can get some valid collateral.

I guess, according to the members who experienced in btcjam, this site is the place of the scammers who will run away with your bitcoin. I think those members are not telling a lie story. So I will go for this site which is btcjam. its not because I listened to these people but I'm just being careful with it.

use btcjam if you want to lose money.

You are only partially right on this. Reviews and opinions about services like BTCJam have tendencies to shift over time.
I visited some of these threads, and I find it difficult to trust opinions about lending investment from 2014.
We either want continuous discussion about current users experiences or new thread from time to time.

Very fair point, though I'd argue that the general sentiment is about the same between the two time periods (both have been rampant with scams). P2P is a HORRIBLE idea unless you have collateral or some way of chasing those you lend to (tip: BTCJam and other related sites don't offer EITHER. When you lose everything, you have zero recourse. It's what makes them all a scammer's dream).

Is it just me?
http://i66.tinypic.com/2hzsrr5.jpg

has been discussed in length many a time on this forum,use search
if short-do not touch them with a six feet pole
a P2P lending platform without you controlling the collateral is simply asking to scam you out of your money
want to make your bitcoins work,then try to inest in bitcoin casinos bankrolls

I have tried btc jam for a while now and I can tell you that some of the members that are offering projects to fund are just using this site in order to scam people, I am not saying that they are all scamming, some of them really need the funding and have some bright ideas but the bad reputation that the other give to the site just makes people not trust it.