Aren't they too optimistic?  Not if you consider the fact that there are over 960 usd of bids for s.dice and value things at what people will currently pay for them. It was a joke. May I ask why you Smickles push so hard for S.DICE? I see you bump the thread quite often with no important things to say. |
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Aren't they too optimistic? |
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Bitcoin Oz, why don't you have a scammer tag by now?
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People invested multiple times on loans with the exact same title/description/amount, even if the user had several open, unpaid loans. People have invested on 500% daily interest loans!
That is insane! Just shows how people can be duped so easily. Great job with the site keep it up! Just a friendly reminder Gweedo, your attitude will not bring you friends or customers. The only friends I need are my coins  I am sorry you lost your coins and are all mad that you made mistakes it happens. If you listened to what I told you be making those coins back in no time so while you hate my attitude you could learn a valuable lesson. I don't remember being mad. You seem to have a problem with us asking questions and I don't know why. I already learned my lesson and I pulled all my funds out. All the best in your lending career! |
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People invested multiple times on loans with the exact same title/description/amount, even if the user had several open, unpaid loans. People have invested on 500% daily interest loans!
That is insane! Just shows how people can be duped so easily. Great job with the site keep it up! Just a friendly reminder Gweedo, your attitude will not bring you friends or customers. |
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Peer to peer lending sites work exactly like us, except they sometimes offer collector services with a 30% recovery fee. Some moderate the listings, we didn't want to do that at first, because we dont like people censoring things.
I will repost here updated site-wide statistics:
loans: 228
total payments: 964
payments late: 215
fully repaid loans: 105
We have a repayment rate of 77.69%.
The majority of unpaid loans are from anonymous borrowers.
People invested multiple times on loans with the exact same title/description/amount, even if the user had several open, unpaid loans. People have invested on 500% daily interest loans!
We have several good listings open right now. I'm sure that if we moderated the listings the repayment rate would be much higher, perhaps this is the only way to go.
Yes, we are investigating some compensation to early users, because the first version of our rating algorithm didn't took into account the number of open credit lines of the user. More news soon.
I think monitoring the listings will be GREAT. By now you have more experience than we, the stupid . I will follow your actions with interest. |
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PM me if anyone is interested in making a settlement.
Hashking, just a question. Did you or any of your partners sue the Pirate? If no, what is stopping all of you? |
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So he has no low team as you implied earlier. He is not doing a thing just help the scammers and himself. Are you to owner of the site or a PR person? Why don't you let him answer?
First off I never claimed I was PR, or owner, I am just someone who enjoys the site, and knows how to use it to make long term coins pretty successfully since I have yet to be scammed on the site. Second Read his post he said he has a law team that is discussing how to handle scammers, and then he claimed that a compensation portion could be in place. But to be honest I been involved in many p2p lending sites with fiat currencies and I know how they work quite well. I appreciate your insight and I envy your skills, now can you please let the owner speak for us the stupid? Thank you. He did speak he is investigating a compensation part of the site, to help keep risk down, which is insanely nice, cause most p2p lending sites don't care if you lose money, they only want fees. I guess a little update won't kill him. |
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So he has no low team as you implied earlier. He is not doing a thing just help the scammers and himself. Are you to owner of the site or a PR person? Why don't you let him answer?
First off I never claimed I was PR, or owner, I am just someone who enjoys the site, and knows how to use it to make long term coins pretty successfully since I have yet to be scammed on the site. Second Read his post he said he has a law team that is discussing how to handle scammers, and then he claimed that a compensation portion could be in place. But to be honest I been involved in many p2p lending sites with fiat currencies and I know how they work quite well. I appreciate your insight and I envy your skills, now can you please let the owner speak for us the stupid? Thank you. |
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I've had similar experiences. I've lent to a number of individuals all with seemingly good BTCJam ratings and scores and two of them are defaulting on their debt repayment schedules. As it stands I am set to receive back less then I invested originally.
Judging from experiences shared above, this is a common story.
Yes it is common cause no one does hw, I think people are dumb, and leave all responsibility to the site. THE SITE IS MEANT match loans to people who want to loan out coins, they give you some information that these people are who they say who they are, that has no bases for making loans. It helps cause those people are not anonymous, but what do you think BTCjam going to do, go to these people's houses with baseball bats and get your coins back at all cost? I mean come on, I think it is amazing they are even consider compensations for people that lost money due to there lack of intelligence. So he has no law team as you implied earlier. He is not doing a thing, just help the scammers and himself. Are you to owner of the site or a PR person? Why don't you let the owner answer? And we got it that we are stupid and you are smart, but we have to live too. |
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Thanks Sebastian. Who would have believed Mircea Popescu will do something useful for me? Multumesc Mircea! |
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I see you don't like it when somebody is using your own methods, don't you? I look up to you as my model, Mircea. |
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Hi MintCondition,
I was one of the users affected by the security breach a while ago. You promised you will return the BTC from the fees I pay. I believe your last payment was in February. I contacted you direct, but I got no answer.
Thank you.
Hi Ciuciu, Chlorine notified me of the situation, and the fee compensation for april through october has just been transferred for your account. All other affected accounts have also just received their compensation for these months. Sorry for the delay. I've been a bit demotivated by the fact that getting the new pool software ready is taking so much longer to than I had hoped, and had not checked the forum and my PM's for quite some time as a result. Rest assured the compensation agreement still stands until your stolen BTC are fully compensated. Regards, MC 11.52 BTC received. Scammer request canceled. Thanks for the payment. |
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Hi MintCondition,
I was one of the users affected by the security breach a while ago. You promised you will return the BTC from the fees I pay. I believe your last payment was in February. I contacted you direct, but I got no answer.
Thank you.
Hi Ciuciu, Chlorine notified me of the situation, and the fee compensation for april through october has just been transferred for your account. All other affected accounts have also just received their compensation for these months. Sorry for the delay. I've been a bit demotivated by the fact that getting the new pool software ready is taking so much longer to than I had hoped, and had not checked the forum and my PM's for quite some time as a result. Rest assured the compensation agreement still stands until your stolen BTC are fully compensated. Regards, MC Received 11.52 BTC. No problem, better late than never. Thank you. |
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I've made an experiment on your site. I lent 100BTC, only to people with a score of 8. I might get back 60 at maximum. What do you do about the scammers? you invested 40 btcs in learning to not go with the numbers and do more hw Wasn't this the job of the owner of the site? His verification methods are bad and he should fell bad. He lost a lender. I understand it is hard to prevent fraud, but he is not doing anything. He should make public the actions he take against scammers, but I'm afraid they amount to 0. They can only verify identity... they can't verify integrity... They also aren't responsible for taking on all the risk themselves, for the lenders' choices on who they lend coin to. Even brick and mortar banks deal with defaults... There is no such thing as a no-risk loan. -- Smoov Yes, I agree, nobody can prevent fraud 100%. But 40% fraud is huge. He should make public his actions, if he wants his website to have a future. First off it isn't 40% cause you said you invest 100btcs unless you gave 1 btc to hundred loans, it is based on loans and paid off loans. Second most sites that do p2p lending are just matching services they open you up to the people who needs loans and how have money loan, so since he is trying to do everything by the laws, you getting a sweet deal use his site and he allows to you basically use his law team. So I think many people here don't understand what p2p lending is and should read about it before using this type of site otherwise you will be screwed. 4 from 8 lendees have disappered with no payment whatsoever. Tell me more about his law team. |
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I've made an experiment on your site. I lent 100BTC, only to people with a score of 8. I might get back 60 at maximum. What do you do about the scammers? you invested 40 btcs in learning to not go with the numbers and do more hw Wasn't this the job of the owner of the site? His verification methods are bad and he should fell bad. He lost a lender. I understand it is hard to prevent fraud, but he is not doing anything. He should make public the actions he take against scammers, but I'm afraid they amount to 0. They can only verify identity... they can't verify integrity... They also aren't responsible for taking on all the risk themselves, for the lenders' choices on who they lend coin to. Even brick and mortar banks deal with defaults... There is no such thing as a no-risk loan. -- Smoov Yes, I agree, nobody can prevent fraud 100%. But 40% fraud is huge. He should make public his actions, if he wants his website to have a future. |
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My question is by owning shares in them should you have unlimited liability if the operator goes rogue ?
I have not heard of any examples of people trying to get money from shareholders? Your loss is limited to the amount you put in. Its been said many times that the glbse shareholders are liable for nefarios actions. I am saying that I am essentially being treated on the same level as Nefario. I may as well have a scammer tag because people misunderstand the roles of shareholders and operators. I have been called a scammer and a "co conspirator". Someone offering a security without a proper shareholder agreement is essentially entrapping the unwary and people need to be aware of it. You were partner, but now you like to call yourself shareholder. How convenient! Haven't seen any of you suing Nefario. Nobody knows his whereabouts. You all must have been the stupidest shareholders! You can find the info yourself its not that hard. Hes not hiding in anyones basement. As for being a stupid shareholder ask the same thing of enron shareholders. You had voting decision and you took BTC out of GLBSE. You did not take any safeguards to not let this happen! In my eyes you are liable, your actions will cost me money and reputation. I voted to sack Nefario. What do you expect to accomplish with 2% of the vote ? You should have made a motion to have a copy of the database at all time, to protect your investment and mine. Lucky for all of you, you didn't. |
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I've made an experiment on your site. I lent 100BTC, only to people with a score of 8. I might get back 60 at maximum. What do you do about the scammers?
you invested 40 btcs in learning to not go with the numbers and do more hw Wasn't this the job of the owner of the site? His verification methods are bad and he should fell bad. He lost a lender. I understand it is hard to prevent fraud, but he is not doing anything. He should make public the actions he take against scammers, but I'm afraid they amount to 0. |
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My question is by owning shares in them should you have unlimited liability if the operator goes rogue ?
I have not heard of any examples of people trying to get money from shareholders? Your loss is limited to the amount you put in. Its been said many times that the glbse shareholders are liable for nefarios actions. I am saying that I am essentially being treated on the same level as Nefario. I may as well have a scammer tag because people misunderstand the roles of shareholders and operators. I have been called a scammer and a "co conspirator". Someone offering a security without a proper shareholder agreement is essentially entrapping the unwary and people need to be aware of it. You were partner, but now you like to call yourself shareholder. How convenient! Haven't seen any of you suing Nefario. Nobody knows his whereabouts. You all must have been the stupidest shareholders! You can find the info yourself its not that hard. Hes not hiding in anyones basement. As for being a stupid shareholder ask the same thing of enron shareholders. You had voting decision and you took BTC out of GLBSE. You did not take any safeguards to not let this happen! In my eyes you are liable, your actions will cost me money and reputation. |
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