[ANN] BTCJam - Peer to Peer Bitcoin Lending

[Kanati]

Just posted this comment on all my defaulted loans with awards from Dhami Law Firm -

Lawyer Kevin Palley (enforcemyarbitrationaward.com) and I tried several times to ask Dhami Law Firm to verify my arbitration awards are authentic, but no one at Dhami Law Firm responds to e-mails or phone calls. Also unable to download awards for any defaulted loans where I have notes, and BTCjam support ignores my emails about the problem. If you're as p*ssed as I am about getting ripped off and ignored, then WRITE to BTCjam and ask them to get Dhami Law to authenticate our otherwise unenforcable arbitration awards, which are NOT digitally signed by Dhami Law Firm!

It looks like Dhami Law Firm is just as dodgy as BTCjam! 

FINALLY got a response from BTCjam Support about missing arbitration awards for loans with purchased notes -

JUL 08, 2016  |  06:37PM PDT
John replied:

Thank you for your feedback and for your email. The awards should be available after 90 days of the default. I forwarded your email to our team, which is working hard to make the awards available. Please remember to check on your Investments page! Thanks for being a member of the BTCjam community!

Best,
BTCjam Support Team

@TULKAS - You have to do better than that 

The arbitration awards are still worthless for collecting debts if I can't prove they are authentic, since the borrower could just say I created them myself and they don't owe me anything.

You could easily eliminate this problem by requiring Dhami Law Firm to digitally sign the PDF files for all arbitration awards issued by them. It's not rocket science anymore - JUST DO IT.

[1715195224]

1715195224

[owlcatz]

Just posted this comment on all my defaulted loans with awards from Dhami Law Firm -

Lawyer Kevin Palley (enforcemyarbitrationaward.com) and I tried several times to ask Dhami Law Firm to verify my arbitration awards are authentic, but no one at Dhami Law Firm responds to e-mails or phone calls. Also unable to download awards for any defaulted loans where I have notes, and BTCjam support ignores my emails about the problem. If you're as p*ssed as I am about getting ripped off and ignored, then WRITE to BTCjam and ask them to get Dhami Law to authenticate our otherwise unenforcable arbitration awards, which are NOT digitally signed by Dhami Law Firm!

It looks like Dhami Law Firm is just as dodgy as BTCjam! 

FINALLY got a response from BTCjam Support about missing arbitration awards for loans with purchased notes -

JUL 08, 2016  |  06:37PM PDT
John replied:

Thank you for your feedback and for your email. The awards should be available after 90 days of the default. I forwarded your email to our team, which is working hard to make the awards available. Please remember to check on your Investments page! Thanks for being a member of the BTCjam community!

Best,
BTCjam Support Team

@TULKAS - You have to do better than that 

The arbitration awards are still worthless for collecting debts if I can't prove they are authentic, since the borrower could just say I created them myself and they don't owe me anything.

You could easily eliminate this problem by requiring Dhami Law Firm to digitally sign the PDF files for all arbitration awards issued by them. It's not rocket science anymore - JUST DO IT.

You do know that even with the "awards", you are probably still not going to ever recover your funds, right? 

[btiAndy]

Just posted this comment on all my defaulted loans with awards from Dhami Law Firm -

Lawyer Kevin Palley (enforcemyarbitrationaward.com) and I tried several times to ask Dhami Law Firm to verify my arbitration awards are authentic, but no one at Dhami Law Firm responds to e-mails or phone calls. Also unable to download awards for any defaulted loans where I have notes, and BTCjam support ignores my emails about the problem. If you're as p*ssed as I am about getting ripped off and ignored, then WRITE to BTCjam and ask them to get Dhami Law to authenticate our otherwise unenforcable arbitration awards, which are NOT digitally signed by Dhami Law Firm!

It looks like Dhami Law Firm is just as dodgy as BTCjam! 

FINALLY got a response from BTCjam Support about missing arbitration awards for loans with purchased notes -

JUL 08, 2016  |  06:37PM PDT
John replied:

Thank you for your feedback and for your email. The awards should be available after 90 days of the default. I forwarded your email to our team, which is working hard to make the awards available. Please remember to check on your Investments page! Thanks for being a member of the BTCjam community!

Best,
BTCjam Support Team

@TULKAS - You have to do better than that 

The arbitration awards are still worthless for collecting debts if I can't prove they are authentic, since the borrower could just say I created them myself and they don't owe me anything.

You could easily eliminate this problem by requiring Dhami Law Firm to digitally sign the PDF files for all arbitration awards issued by them. It's not rocket science anymore - JUST DO IT.

I have not tried out kraken yet, been pretty satisfied on BTC Pop...still trying to get the rest of my coin out of Jam without too much of a loss!

[P M]

Just posted this comment on all my defaulted loans with awards from Dhami Law Firm -

Lawyer Kevin Palley (enforcemyarbitrationaward.com) and I tried several times to ask Dhami Law Firm to verify my arbitration awards are authentic, but no one at Dhami Law Firm responds to e-mails or phone calls. Also unable to download awards for any defaulted loans where I have notes, and BTCjam support ignores my emails about the problem. If you're as p*ssed as I am about getting ripped off and ignored, then WRITE to BTCjam and ask them to get Dhami Law to authenticate our otherwise unenforcable arbitration awards, which are NOT digitally signed by Dhami Law Firm!

It looks like Dhami Law Firm is just as dodgy as BTCjam! 

FINALLY got a response from BTCjam Support about missing arbitration awards for loans with purchased notes -

JUL 08, 2016  |  06:37PM PDT
John replied:

Thank you for your feedback and for your email. The awards should be available after 90 days of the default. I forwarded your email to our team, which is working hard to make the awards available. Please remember to check on your Investments page! Thanks for being a member of the BTCjam community!

Best,
BTCjam Support Team

@TULKAS - You have to do better than that 

The arbitration awards are still worthless for collecting debts if I can't prove they are authentic, since the borrower could just say I created them myself and they don't owe me anything.

You could easily eliminate this problem by requiring Dhami Law Firm to digitally sign the PDF files for all arbitration awards issued by them. It's not rocket science anymore - JUST DO IT.

I have not tried out kraken yet, been pretty satisfied on BTC Pop...still trying to get the rest of my coin out of Jam without too much of a loss!

about the dhami thing...YES they must do better then that but i see this  coins as lost. maby i try to enforce but not worth to do so for 5 cents per loan..but anyway...i hate reading this standard answer from btcjam "they should be available after bla bla"...just no help or support at all. they just earn fees and silence members that try to connect with other members etc....


anyway.....


@btiandy
kraken is no lending site so the one i trust is me only...if i speculate on some profit from "investing" in ether or doa or other currencies then its in my control...well at least i dont have to hope for members to pay back, just hope for price changes that please my speculations.
if i make a wrong move i can only blame myself and try better next time. im not sure if i will register at pop anymore/at all. its just another site i have to trust (thinking of hashocean) and then people i have to trust. the chain is just too long even tho it is fun as a hobby.

and yes im also collection all payments moving them over to kraken and buy some ether at low price....HOPE it rises to 14 dollars or something like that and im happy

[c789]

If this topic, read someone from representatives of BTC jam, please pay attention to any number of defaults on borrowing.
You need to implement the arbitration within the project.

Don't hold your breath waiting for that to happen.

[P M]

i am planning to invest some of my btc amount in btc jam but after reading some comments it makes me realize to think more about this service what do you think is it a bad idea to invest in btc jam right now? because i have seen them partnering one of the trusted  btc wallet in our country thats why i was encouraged to invest some amounts.

Just hodl your coins right now. The halvening is coming, and there is no telling what is going to happen, so you may lose more than you gain because the loans are based on btc price at time of lending, so whatever earnings you get or don't get are based on that set price at the time. bad idea, imo, not now anyhow. Plus, they selectively ignore customers with problems. Good luck.

I would also (and actually i do too) hold on to your bitcoins or also ether...its only speculations but after halving maby it takes 1-3 months but the price will rise....like sayd only speculation. Good luck to all and myself

[Kanati]

Just posted this comment on all my defaulted loans with awards from Dhami Law Firm -

Lawyer Kevin Palley (enforcemyarbitrationaward.com) and I tried several times to ask Dhami Law Firm to verify my arbitration awards are authentic, but no one at Dhami Law Firm responds to e-mails or phone calls. Also unable to download awards for any defaulted loans where I have notes, and BTCjam support ignores my emails about the problem. If you're as p*ssed as I am about getting ripped off and ignored, then WRITE to BTCjam and ask them to get Dhami Law to authenticate our otherwise unenforcable arbitration awards, which are NOT digitally signed by Dhami Law Firm!

It looks like Dhami Law Firm is just as dodgy as BTCjam!  

FINALLY got a response from BTCjam Support about missing arbitration awards for loans with purchased notes -

JUL 08, 2016  |  06:37PM PDT
John replied:

Thank you for your feedback and for your email. The awards should be available after 90 days of the default. I forwarded your email to our team, which is working hard to make the awards available. Please remember to check on your Investments page! Thanks for being a member of the BTCjam community!

Best,
BTCjam Support Team

@TULKAS - You have to do better than that  

The arbitration awards are still worthless for collecting debts if I can't prove they are authentic, since the borrower could just say I created them myself and they don't owe me anything.

You could easily eliminate this problem by requiring Dhami Law Firm to digitally sign the PDF files for all arbitration awards issued by them. It's not rocket science anymore - JUST DO IT.

I have not tried out kraken yet, been pretty satisfied on BTC Pop...still trying to get the rest of my coin out of Jam without too much of a loss!

about the dhami thing...YES they must do better then that but i see this  coins as lost. maby i try to enforce but not worth to do so for 5 cents per loan..but anyway...i hate reading this standard answer from btcjam "they should be available after bla bla"...just no help or support at all. they just earn fees and silence members that try to connect with other members etc....


anyway.....


@btiandy
kraken is no lending site so the one i trust is me only...if i speculate on some profit from "investing" in ether or doa or other currencies then its in my control...well at least i dont have to hope for members to pay back, just hope for price changes that please my speculations.
if i make a wrong move i can only blame myself and try better next time. im not sure if i will register at pop anymore/at all. its just another site i have to trust (thinking of hashocean) and then people i have to trust. the chain is just too long even tho it is fun as a hobby.

and yes im also collection all payments moving them over to kraken and buy some ether at low price....HOPE it rises to 14 dollars or something like that and im happy

Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.

In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -

• Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
• Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
• Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
• Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
  *Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
• Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
• Jam even threatens investors against getting help with collecting delinquent loans!..
  

  "As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."

  Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service  (

Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.

[owlcatz]

Wow, people are finally waking up and realizing this site is just a scam? 

[btiAndy]

Wow, people are finally waking up and realizing this site is just a scam? 

slowly but surely

[P M]

[/quote]

Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.

In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -

• Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
• Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
• Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
• Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
  *Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
• Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
• Jam even threatens investors against getting help with collecting delinquent loans!..
  

  "As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."

  Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service  (

Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.

[/quote]


thank you for this list...i think its all sayd ....

[Tulkas]

Kanati,

Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).

I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).

Best,

[owlcatz]

Kanati,

Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).

I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).

Best,
Tulkas the Scammer

So what are you going to do about all of us who were scammed on your scammy site, Tulkas? Btw, fuck you for never replying here, you sad excuse for a bitcoin community member. I've left you neg feedback, since your site is basically made for scammers, just like you. Thanks.

Edit - My amount "Risked" was what I lost to your shitty scam site. So again, fuck off, scammer. And anyone else reading this, avoid this shit site like the plague, you will just lose money.

Edit 2 - Loser has been online and probably seen this for over 30 minutes but doesn't respond. shocker. LOL. Scammer.

[Tulkas]

Why do you think I am a scammer, owlcatz?

We are a platform that connects borrowers and lenders, we are not the ones taking the loans. We never stated that we are responsible or endorse any of the loans in the platform. When someone in this forum pulls a scam does it make the forum owner a scammer?

We do everything in our power to prevent and we also try to recover defaulted loans. We offer arbitration awards free of charge (we pay the arbitration firm to issue them), we call the borrowers before the loan goes into the platform and we also contact late ones.

We don't answer questions on the forums because there are many forums out there and they do not offer proper tools to manage all the messages. We do have a support email and answer all the messages we receive in a timely manner.

[owlcatz]

Why do you think I am a scammer, owlcatz?

We are a platform that connects borrowers and lenders, we are not the ones taking the loans. We never stated that we are responsible or endorse any of the loans in the platform. When someone in this forum pulls a scam does it make the forum owner a scammer?

We do everything in our power to prevent and we also try to recover defaulted loans. We offer arbitration awards free of charge (we pay the arbitration firm to issue them), we call the borrowers before the loan goes into the platform and we also contact late ones.

We don't answer questions on the forums because there are many forums out there and they do not offer proper tools to manage all the messages. We do have a support email and answer all the messages we receive in a timely manner.

To my bolded points above.

1. No, but as the site owner, you should should own some responsibility IMO.

2. No, you don't and you know it. NET-ARB dox were useless. See my posts here about everyone who scammed me from shitty 3rd world countries. Google "scammers who owe me bitcoin" and your site is #1

3. No. You are lying. You do not answer everyone's support tickets in any timely manner, so fuck you again. You selectively reply to support requests as you see fit, I have proven this, and I'm pretty sure i'm not the rest of the accounts / people on this thread complaining about such.

Btw. Why did you shut off us users? Now I can never get anything from your scam shit site. Fuck you again. Scammer. LOL.

[alpesh102]

Wow, people are finally waking up and realizing this site is just a scam? 

slowly but surely

yes.. u r right.

[isvicre]

Why do you think I am a scammer, owlcatz?

We are a platform that connects borrowers and lenders, we are not the ones taking the loans. We never stated that we are responsible or endorse any of the loans in the platform. When someone in this forum pulls a scam does it make the forum owner a scammer?

We do everything in our power to prevent and we also try to recover defaulted loans. We offer arbitration awards free of charge (we pay the arbitration firm to issue them), we call the borrowers before the loan goes into the platform and we also contact late ones.

No you don't! Complete lies. You don't do a damn thing.  I even emailed you a year ago to offer to help prevent scams and I got no reply. You aren't interested in stopping scams because that's where 25%+ of your fees come from. It isn't even that hard to cut the number of scams in half but you can't be bothered to spend an hour thinking about it or half an hour reading emails that probably give you the advice.

If i had more free time I would launch a p2p lending site and I would from the start spend time, employ people and scale up those resources as the site got bigger to prevent scamming. I'd also give back 50% of the fees collected from proven scams to the investors. So to conclude,  you're very lucky somebody decent hasn't competed with you yet.

[cynical_observer]

Tulkas,

I am one of those who received the "spam" you keep saying NET-ARB sent to your user database.  Besides the arbitration awards, the only emails I ever got from NET-ARB were about enforcing my awards at Mr. Palley's website.  This seems like something you should support if you care at all about borrowers not repaying loans.  Both NET-ARB and Mr. Palley are trying to help us.  So would you please explain why you are against this and why you call it spam? 

[Republikcoin.com]

And why can not I make a withdrawal? always  error when requesting a withdrawal
I contacted the support but did not get an answer I do not have an active loan so please check
thank you

[owlcatz]

And why can not I make a withdrawal? always  error when requesting a withdrawal
I contacted the support but did not get an answer I do not have an active loan so please check
thank you

Because... Site is a selective scam. Good luck.

[Kanati]

Kanati,

Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).

I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).

Best,

Tulkas,

I have no knowledge or opinion about your database dispute, and to be frank I don't see how it addresses any of the points I raised earlier -
 

Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.

In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -

    Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
    Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
    Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
    Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
    *Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
    Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
    Jam even threatens investors against getting help with collecting delinquent loans!..
    Quote
    "As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."
    Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service  Huh(

Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.

Solutions to the above problems would be appreciated, since my support cases on these topics (Case #: 128701 & 142221) seem to have been sucked into a black hole 

Investors would not need Mr. Palleys services if BTCjam provided other means for recovering our coins, but until you decide BTCjam debt collection is mature enough to graduate from the experimental stage, and you establish a clear consistent debt collection policy that investors can understand, then Mr. Palley is only resource we have.

When or if that ever happens is out of my control. Right now I am dealing with a massive number of defaults (for example more than 72% defaults on BRL loans from before I turned off AutoInvest...) and the "independent" Dhami Law Firm arbitration awards of questionable authenticity. They are certainly not looking credible since Dhami Law firm removed their website (http://www.dhamilaw.com/) and does not answer phone calls or e-mails