Does BTCJam recover your loses in any way?

[knowhow]

the bad thing is the blockhain had promoted it for a while soo some people believe on it,there isnt a 100% that you will earn anything for a loan without colateral avoid loose money invest with security

[vajjump]

My balance is in - (minus)bitcoin how? I don't know, I emailed to btcjam support they ask my user name to fix it but they don't do anything my balance is still in -(minus). 

[notlist3d]

I heard many people got scammed by borrower in BTCJam & BTCJam never helps in any way
I've also heard a lender got scammer by borrower which has A+ rating

I think bitcoin or anything decentralized based lending won't work

I think it's a compounding problem.   The more people see that defaulting and how hard it is for someone to recover it the more future defaults happen.  It spreads like a plague.

And with people loaning to people all over the world it's hard legally.  If loaning I would stick to same country so you can get a lawyer at decent rate, add international and most I'm guessing cost more then what you would recover.  But even in same country people seem to default, they don't seem to care they will sell their online reputation for X btc. 

It's sad but I think it's going to take BTCJam to take a active role to fix it.  They need to have a new department with proper lawyers to help on defaults.  Right now they just give you info and say hope it goes well!

[knowhow]

I heard many people got scammed by borrower in BTCJam & BTCJam never helps in any way
I've also heard a lender got scammer by borrower which has A+ rating

I think bitcoin or anything decentralized based lending won't work

I think it's a compounding problem.   The more people see that defaulting and how hard it is for someone to recover it the more future defaults happen.  It spreads like a plague.

And with people loaning to people all over the world it's hard legally.  If loaning I would stick to same country so you can get a lawyer at decent rate, add international and most I'm guessing cost more then what you would recover.  But even in same country people seem to default, they don't seem to care they will sell their online reputation for X btc. 

It's sad but I think it's going to take BTCJam to take a active role to fix it.  They need to have a new department with proper lawyers to help on defaults.  Right now they just give you info and say hope it goes well!

all they need to alow loans is ask for colateral ,otherwise no lawyer will recover all money taked by others.... it will take a lot time and people invest on short time as medium,they dont wanna loose money,as i said before exchanges doing these already,loaning with colateral,and not allowing to cashout before pay the loan,otherwise some users would kill the reputation of any exchange in short time.One of them os poloniex,sure they offer 0.04% daily instead of 40% montly btcjam users offer but their is safe btcjam isnt currently safe to no one,avoid it before loose your money.