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It is worse than gambling as it is pretty much guaranteed you will lose out. https://btcjam.com/statsLook at "Total Investor Returns" it is in the negatives.... Almost at -20% for bitcoins lol. That is just for D rated borrowers, the highest risk on the platform given the credit ratings. Other credit ratings are returning quite well. |
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For the past week they keep rejecting my Identity Verification and Address Verification without any reason to do that. I keep upload the files 2 times a day and they keep rejecting.
I have send them this email and they didn't bother to answer.
"Hello ,
My name is ******** **********.
I don’t know why you keep reject my Identity Verification , this reason "The information provided does not match the document.” is insufficient in order to understand whats wrong with my id or your verification system.
I look at the document and is nothing wrong with my CNP ( Numeric Personal Code / SSN / National ID Number), the information provided its 100% matching the document and is 100% the CNP from my birth certificate.
I tried to verify both the National ID and Driving License and you give me the same reason for rejection.
Please double-check the information received and act in concordance.
PS: When i verified my investor account i used the same National ID and it was accepted.
Hope you will answer this email.
Thank you,"
Maybe they will answer on this forum, MAYBE.
Send me a PM with your alias, I'll check it out. |
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same exact problem as FullaSugah
keep getting id rejected, tried greencard and passport, id is clearly legible in picture still gets rejected:
New Status: Invalid - The data in the photo and the information submited are inconsistent.
Is there anyone here from support to explain?
Drop me an alias via PM and I'll check it out today! Thanks |
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Isn't this a funny graph?  It would be good if it was upside-down :-D Not much to laugh, actually. Hey there, is this your investments page? Can you PM me an alias so that I can look into this a bit more? Thanks, we'd love to see what is going on here! |
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Ok, I was thinking of getting a loan of 430USD in BTC from btcjam.
From what I see, seems like common sense, is that you give btcjam more accounts & passwords? Your loan limit increases? Is this how this works?
What is stopping btcjam from running with all info? Keeping the info and never disposing of it? How secure is the info? What happens if they have a breach?
Had a had time getting a loan there the verification process is quite risky you will have to expose everything about you and your business and this is online every body can see it ,it's far more better to get a loan here all you need is a good collateral used to promote btcjam to all my friends but stopped when I spot some of it's flaw not recommended to get one here Yea i decided to go with loanbase. What is odd is my passport and address is still pending, took photos upright, took photo of me with my passport and my passport and a govt document with my street address. And like I said in another thread/post I am on SSI and loanbase does not have an unemployed selection. I am getting a little worried now. I called loanbase without any answer, several times I called and contacted support by email without any replys. Support finally got a hold of me. I have to show last three months of my bank statement of income But! My bank only supplies one bank statement to a page then there is a drop down menu for lasts months statement so on so forth. The picture insert for retirement only holds one picture on loanbase. So wth? what am I suppose to do. I emailed them about it after they contacted me. They need to redo their website for disabilities & do something about their support response time. I've been waiting some where around 17 hours. This is ridiculous. Edit: I guess multiple attachments are allowed, I got my bank statements in.  Just hope they approve now. Sorry that lenders here lost out on my business. But no one replied to my loan thread. We can handle disability / retirement pretty easily if you are still interested in a loan. What was said about the more accounts higher the score isnt true when it comes to our system, there are many, many variables that make up the rating. We also have some higher limits for first time borrowers incase you were looking to get a loan of more than $300 and not have to do a rep loan first as well. PM me if you want more info. Good luck with your pursuit regardless. PS: loans are funding in less than a day with us, many of which are going in under 2 hours. We're looking for quality borrowers so if you guys are looking to establish a credit line it's a great time. Thanks |
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ahh its annoying to used this service... iam still missing funds
Missing Funds on btcjam : 0.3 btc :/
regards
lama-hunter
Deposits are coming in at around 6 confirmations - might take a bit longer but be patient, they will arrive! |
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Btcjam support team has to defend the tide against them across various coin boards. There seem to be more lenders than those who need loans..
Defend tides? Not sure what you mean here - I think the sentiment online (minus some of the trolls in this thread) has been pretty good in the recent months. Lots of investors flooding the market which happens to take loans off the marketplace at a rapid pace. AutoInvest has gotten a lot of attraction as well & success for many. You're right though we are always looking for quality borrowers. If you know some use that referral code so you get a cut too! |
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Hopefully i will get my lendings from btcjam pack. I ve already 0.28 late in payment...
thats really sad :/
regards
DavieT 1337
Drop me a PM with your alias, I can see whats maybe going on. Thanks! |
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What is w.r.t means?
"w.r.t" is the abbreviation of "with respect to".
I have accounts with both and have funded a loan in btcjam and so far i was getting paid on time, and 2 more to go ill get my roi. Hopefully me
Maybe you got lucky this time.  _______________________________________________________________________________ _______________________________________________________ I wonder why the founder of BTCJam, Tulkas is silently stalking on the forum? I saw he was online today but found that his last post was made on July 23, 2014, 07:05:07 PM! Is he banned by the mods? Or, is he trying to get some statistics on how many lenders went against BTCJam and how many are still believing that the site is trusted?  We've answered a lot of the issues your brought up repeatedly within this thread. Regardless, you are entitled to your own opinion. You are misinformed about a few things. 1. We dont remove commenting from borrowers if they are late. There are many late borrowers who have commented today without such restrictions. Not sure where you even get this idea. Many borrowers say they cannot comment, when in fact they have no restrictions against their account. 2. We dont permit links of any kind - simple as that its been like that for a long time. 3. Support is very active throughout the many places we cover on the internet. We are well aware of their activity and they handle hundreds of inquiries a day. 4. Forum - We are trying to build more product tools on a daily basis. Unfortunately, no we arent interested in a forum. There is a forum right here and many other places on the internet that you can use (which you already use for this anyway) so we thought we'd just limit one more place. You want us to know something just send us an email. THANKS Hi there BTCjam Supüport Team, i really like the Site and the mention to invest in somebodys loan. Uppon the late repaying of several users i wanne u to ask, what btcjam does if the lender did not response for over 30 Day. Will there income any calls to the lender? Emails or at the End? Would be great to know regards lama-hunter We are actively reaching out to borrowers more and more to keep in the loop for payments that are upcoming. We do call borrowers and touch base to see how things are going. The past two months we've experimented with this and we're seeing great results so far with some of the experiments. We send an SMS, email and now are trying to touch base with borrowers more and more to get a better idea of how repayment is going. We're really experimenting with this data and info right now but I'll try to come back and share some of the results in the future. It's a good question, thanks for taking the time to send it over. |
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What is w.r.t means?
"w.r.t" is the abbreviation of "with respect to".
I have accounts with both and have funded a loan in btcjam and so far i was getting paid on time, and 2 more to go ill get my roi. Hopefully me
Maybe you got lucky this time. _______________________________________________________________________________ _______________________________________________________ I wonder why the founder of BTCJam, Tulkas is silently stalking on the forum? I saw he was online today but found that his last post was made on July 23, 2014, 07:05:07 PM! Is he banned by the mods? Or, is he trying to get some statistics on how many lenders went against BTCJam and how many are still believing that the site is trusted? We've answered a lot of the issues your brought up repeatedly within this thread. Regardless, you are entitled to your own opinion. You are misinformed about a few things. 1. We dont remove commenting from borrowers if they are late. There are many late borrowers who have commented today without such restrictions. Not sure where you even get this idea. Many borrowers say they cannot comment, when in fact they have no restrictions against their account. 2. We dont permit links of any kind - simple as that its been like that for a long time. 3. Support is very active throughout the many places we cover on the internet. We are well aware of their activity and they handle hundreds of inquiries a day. 4. Forum - We are trying to build more product tools on a daily basis. Unfortunately, no we arent interested in a forum. There is a forum right here and many other places on the internet that you can use (which you already use for this anyway) so we thought we'd just limit one more place. You want us to know something just send us an email. THANKS |
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Lending bitcoins seems pretty dumb to me. Whenever you give coins to someone else you allow them to fuck you over if (when?) the price changes in their favor.
If you still want to do it, make sure you are lending to someone who has a method to earn bitcoins (that isn't mining), regardless of the price. If they just need cash, they can screw you on a price change. If the price drops, they can pay you back faster, giving you less interest and also bitcoins that are worth less. If the price goes way up, they probably won't be able to pay you back and will just leave you with nothing.
1. You can link the price to 6 other currencies to avoid that volatility issue. We have investors who hedge their risk (btc only loans) with linked loans in order to sort of hedge against price movements. I believe this person is looking for a loan over investing at this time. |
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Yes, it's been asked few times, but cmon, one is never so sure, I mean, giving them credentials to my bank account ? the hell is up with that? I'm pretty much fine with giving them the photocopy of my ID but that bank shit is kinda suspicious, is there someone who used them to get a loan without any problems and gave them all the info they needed? should I trust them?
Let me clarify a bit about the bank login. For one, this is not mandatory you have right to not connect these if youd rather not. This connection isnt giving us your credentials, its verifying that you do indeed possess a bank account. Almost like a deposit where you have to enter the amounts, this is practically the same method. We have many, many borrowers that have used these connections without any issues. However, bear in mind that there are many other connections you can provide before going with the banking side. If you didnt feel comfortable there, try some of the other verifications first. Hope this helps. |
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I'll check it out, thanks for sending this over. Could be many reasons |
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IMO, any p2p online lending is very very risky, no matter how much you diversify it. It is very hard for any independent party to verify the authencity of the documents submitted. With BTCJam, they do not do anything even if the user default, arbitration will not work unless the ID is correct and you live nearby the borrower.
We have many users who use arbitration when awards get issued. We're in the works of testing out more collections based services right now to strengthen this up so hopefully we'll have some updates to strengthen the consequences in the future. |
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Good to know not to use the autoinvest option, I was thinking about this last week and whether it would be worth it or not. Sounds like even when you manually look after your BTC there is still a high chance of getting scammed?
That isnt from our company. Im not really even sure that they have AutoInvest yet. Looking at their site it doesnt seem like they do have AutoInvest. |
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I've invested 0.05 just to try out their system... It works, but prepare to be scammed if you use autoinvest  I think it's better to manually review all loan requests, and only chose the ones you feel safest about... Even then, you'll get scammed now and then. Yeah I completely agree with this strategy. I personally wouldn't use the autoinvest feature. I have seen many scammers on BTC Jam in the past, so definitely do your due diligence and don't expect to get rich from BTC Jam Could also ask this guy for those interesting in hearing from others. |
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I'm pretty sure that there is no minimum.
Is the transaction confirmed?
Yeah the autoinvest is just for diversifying. You can invest small amounts of Bitcoin, but you will have to do it by picking your preferred listing(s) Can you say how effective the autoinvest system is? I used loanbase and lost BTC0.2 out of my BTC0.3 . I don't think I'll use lending as an investment any time soon again. There needs to be some kind of collateral invented to prevent theft. To all of you wanting to invest in lending sites, use people like myself as an example do be extra careful before investing.  This is not our company nor our AutoInvest. |
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I used Btcjam some time ago, and you have to look the reputation of the users as you can loose your money. I don't think that autoinvest is a great feature.
How long ago did you use us? |
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I've invested 0.05 just to try out their system... It works, but prepare to be scammed if you use autoinvest I think it's better to manually review all loan requests, and only chose the ones you feel safest about... Even then, you'll get scammed now and then. AutoInvest returns are beating that of manual investors returns. Those who review us and lash out about scammers and losing BTC, they are those who manually invest. Im not saying its impossible but I do think the curve for learning the borrowers and investing wisely takes time just as starting out any new investment. AutoInvest is nice because you're starting with a small amount and you are diversifying it across a marketplace where we've accounted for the risk as well. |
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