Hi Everyone,

this discussion is about my experience on btcjam. All americans that wish to invest on the platform, go to loanbase or bitbond instead as you will not be allowed on BTCjam.

I have started recently to be part of the peer to peer lending plateform BTCjam, as an investor. When you invest You need to make sure of few things before investing a single satoshi into any projects.

1) First, the history of the borrower. Is he/she new on the plateform? be cautious.
2) Has the borrower already applied and most importantly repaid previous loans? the more loan repaid the better (quite obvious though)
3) Does the guy brag about himself and tell you that his business is very profitable? no go if no previous loan repaid. you can study the case if the amount to borrow is similar to the former one but not much higher !!!
4) Does the guy intend to do speculation activity with the loan ? whatever credit score this borrower has, very highly risky profile !!!
5) invest a tiny amount of your BTC portofolio per project to be able to spread the risk of default.

out of 10 loans, one is on default so far. I didn't respect the top 3 first points on that investment. It is highly unlikely that this deadbet will honor his debt to us (investors), but this guy, which was american, stopped communication after BTCjam stopped taking american. I don't know if it is linked together but it happened. If you see this nick name jhilton232 or thepickingcouple on ebay. Run away. This guy tried to scam investors. He might be soon on the bitcoinbountyhunter dot com.

I am going to see what and how the arbitration is going to be done on this case. My overall impression of BTC jam is great so far and defenitly recommend people to go their to get a great ROI. if you wish a recommendation, let me know, we can both get 20 USD worth of BTC.

Good luck for your investment.