[ANN] BTCJam - Peer to Peer Bitcoin Lending

[btiAndy]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

[1714887664]

1714887664

[owlcatz]

I guess I'll just keep reposting this so people know where to dox the scammers who steal their bitcoins from this shitty scam site:

Re: BTCjam scammers who owe me bitcoin

 

[CoinPro*]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

[JasonXG]

It shouldn't really matter so long as they paying, unless it's large amounts.

[btiAndy]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

BTCJam is going to have to find a solution to this problem and at some point talk with its investors...I see that the OP Tulkas is still checking in here but as of yet has not had the guts to add any commentary...I guess if they cannot provide updates on their own Facebook page or website maybe absurd to believe they would do anything here.

We all knew the risk lending money on a P2P site like Jam, however what we did not know is that Jam would change the rules of that investment so dramatically after the fact. Lawsuits-a-comin!!

[Kanati]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

BTCJam is going to have to find a solution to this problem and at some point talk with its investors...I see that the OP Tulkas is still checking in here but as of yet has not had the guts to add any commentary...I guess if they cannot provide updates on their own Facebook page or website maybe absurd to believe they would do anything here.

We all knew the risk lending money on a P2P site like Jam, however what we did not know is that Jam would change the rules of that investment so dramatically after the fact. Lawsuits-a-comin!!

I suspect that they are already being sued by Net-Arb and/or Kevin Pally for falsification of arbitration awards, which might also explain the radio silence, and why support doesn't answer. For me it's more a question if they die quickly by lawsuit, or slowly by bleeding to death because investors are pulling out of the information vacuum.

[btiAndy]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

BTCJam is going to have to find a solution to this problem and at some point talk with its investors...I see that the OP Tulkas is still checking in here but as of yet has not had the guts to add any commentary...I guess if they cannot provide updates on their own Facebook page or website maybe absurd to believe they would do anything here.

We all knew the risk lending money on a P2P site like Jam, however what we did not know is that Jam would change the rules of that investment so dramatically after the fact. Lawsuits-a-comin!!

I suspect that they are already being sued by Net-Arb and/or Kevin Pally for falsification of arbitration awards, which might also explain the radio silence, and why support doesn't answer. For me it's more a question if they die quickly by lawsuit, or slowly by bleeding to death because investors are pulling out of the information vacuum.

Interesting, what is the situation with Kevin Pally? I am familiar with the net-arb matter but am not familiar with the latter issue you mentioned. This past weekend I calculated the investments I have on Jam and since last week every US User has not paid their loan...out of 14 US loans-14 late payments/defaults...and this is over all ranges of risk (A- to D+ borrowers)

[btiAndy]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

BTCJam is going to have to find a solution to this problem and at some point talk with its investors...I see that the OP Tulkas is still checking in here but as of yet has not had the guts to add any commentary...I guess if they cannot provide updates on their own Facebook page or website maybe absurd to believe they would do anything here.

We all knew the risk lending money on a P2P site like Jam, however what we did not know is that Jam would change the rules of that investment so dramatically after the fact. Lawsuits-a-comin!!

I suspect that they are already being sued by Net-Arb and/or Kevin Pally for falsification of arbitration awards, which might also explain the radio silence, and why support doesn't answer. For me it's more a question if they die quickly by lawsuit, or slowly by bleeding to death because investors are pulling out of the information vacuum.

Interesting, what is the situation with Kevin Pally? I am familiar with the net-arb matter but am not familiar with the latter issue you mentioned. This past weekend I calculated the investments I have on Jam and since last week every US User has not paid their loan...out of 14 US loans-14 late payments/defaults...and this is over all ranges of risk (A- to D+ borrowers)

Nevermind, I found the stuff on Kevin Palley. Looks like he is the attorney that started working with net-arb and is not liked by our friend Tulkas and BTCJam.

[Kanati]

My NET ANNUALIZED RETURN is now even lower, -11.5%
That's really frustrating. It's like throwing money to the wind.

Yep...mine is creeping down in that direction also...all thanks to the US Users who are now defaulting en masse! Thanks BTCJam!!

When I found out that BTCjam was starting to block all U.S. clients, I remember telling someone that U.S. borrowers would use that as a "get out jail free" card, and not worry about paying back their loans. In other words, if they could never borrow again, they would have zero incentive to pay back, keep their credit in good standing.

Jam should have had a contingency plan in place knowing full well that was a major possibility. Instead, their contingency plan was "Lets not tell anyone we are going to start blocking U.S. clients, and keep it a secret until we are called out on it". They probably decided to cancel all U.S. clients, afraid of potential lawsuits, and heat from the U.S. govt, but ironically, they probably just made matters much worse for themselves when investors start looking for who's responsible for the "US Users who are now defaulting en masse!" Glad I stopped investing in people on Jam a while ago. I will stick with pop, LB, and bond. 

BTCJam is going to have to find a solution to this problem and at some point talk with its investors...I see that the OP Tulkas is still checking in here but as of yet has not had the guts to add any commentary...I guess if they cannot provide updates on their own Facebook page or website maybe absurd to believe they would do anything here.

We all knew the risk lending money on a P2P site like Jam, however what we did not know is that Jam would change the rules of that investment so dramatically after the fact. Lawsuits-a-comin!!

I suspect that they are already being sued by Net-Arb and/or Kevin Pally for falsification of arbitration awards, which might also explain the radio silence, and why support doesn't answer. For me it's more a question if they die quickly by lawsuit, or slowly by bleeding to death because investors are pulling out of the information vacuum.

Interesting, what is the situation with Kevin Pally? I am familiar with the net-arb matter but am not familiar with the latter issue you mentioned. This past weekend I calculated the investments I have on Jam and since last week every US User has not paid their loan...out of 14 US loans-14 late payments/defaults...and this is over all ranges of risk (A- to D+ borrowers)

Nevermind, I found the stuff on Kevin Palley. Looks like he is the attorney that started working with net-arb and is not liked by our friend Tulkas and BTCJam.

Yep, I think it might be something like - JAM refers bad loans to www.net-arb.com for arbitration, then net-arb issues an award and plugs Kevin Palley / www.enforcemyarbitrationaward.com to do your debt collections for you for a fee (Palley could well have paid net-arb for this service). JAM for whatever reason (officially for spamming JAM members..) fires net-arb and makes other arrangements for arbitration. Palley loses his client referrals, and Net-arb accuses JAM of counterfeiting arbitration awards after 1. February.

One or more of them is obviously lying, but in any case the fact is that PDF arbitration awards from before AND after 1. February are about as useful as Monopoly Money since they are not digitally signed. Investors have therefore no objective proof of who originally issued them, and they probably would not even hold up in court on their own merit.

[btiAndy]

Has anyone here been having issues with 2FA Authentication on Jam? Every time I try to issue a note or perform an action the code is only valid for the first few seconds of a new cycle...I think these codes are recycled every 30 seconds, in my case the code is considered invalid after the first 5 seconds the code has cycled on my app. Is this possibly a time sync problem or do I have symptoms of a bigger problem? Cheers for any advice!

[btiAndy]

Has anyone here been having issues with 2FA Authentication on Jam? Every time I try to issue a note or perform an action the code is only valid for the first few seconds of a new cycle...I think these codes are recycled every 30 seconds, in my case the code is considered invalid after the first 5 seconds the code has cycled on my app. Is this possibly a time sync problem or do I have symptoms of a bigger problem? Cheers for any advice!

...of course I mean symptoms of a problem other than doing anything on Jam ...thought I would head that comment off first before it hits...

[Bourbon44]

I guess I'll just keep reposting this so people know where to dox the scammers who steal their bitcoins from this shitty scam site:

Re: BTCjam scammers who owe me bitcoin

 

Somebody should dox this clown:

Hi there I'm The Angel on BTC JAM. Those photos are absolutely hilarious. Typical scammer. I've been scammed on there so many times I can't remember the day I was not scammed. The idea is to have diversified investments so that the scams don't matter so much. It works most of the time. This guy: what a loser

He/she is either a BTCJam puppet, scammer, or a complete fucking fool. Always the first to go on X listing and say they trust some investor. Investor inevitably defaults. A while back (over a year), dude made a post GUARANTEEING investors that if they followed him/her they would win at BTCJam. I'm no genius with money, but I know enough that anybody who guarantees a return on an investment that isn't US T-bills is full of shit or lying.

I quoted on Jam that individuals statement asking to post returns for what one would have made following their investment advice. It was deleted along with the original comment.

[owlcatz]

I guess I'll just keep reposting this so people know where to dox the scammers who steal their bitcoins from this shitty scam site:

Re: BTCjam scammers who owe me bitcoin

 

Somebody should dox this clown:

Hi there I'm The Angel on BTC JAM. Those photos are absolutely hilarious. Typical scammer. I've been scammed on there so many times I can't remember the day I was not scammed. The idea is to have diversified investments so that the scams don't matter so much. It works most of the time. This guy: what a loser

He/she is either a BTCJam puppet, scammer, or a complete fucking fool. Always the first to go on X listing and say they trust some investor. Investor inevitably defaults. A while back (over a year), dude made a post GUARANTEEING investors that if they followed him/her they would win at BTCJam. I'm no genius with money, but I know enough that anybody who guarantees a return on an investment that isn't US T-bills is full of shit or lying.

I quoted on Jam that individuals statement asking to post returns for what one would have made following their investment advice. It was deleted along with the original comment.

You mean this fucking retard? - https://webcache.googleusercontent.com/search?q=cache:uXdfA76l1GYJ:https://btcjam.com/users/122712+&cd=2&hl=en&ct=clnk&gl=us

Yeah, he's a shill for sure .. In fact, I'm guessing he's the fucking owner/founder, Celso Pitta.... https://angel.co/celso-pitta - Fucking scammers, the whole lot of them.

[Republikcoin.com]

Until now I could not make a withdrawal from an account BTCjam I do not have an active loan
I've been several times to send an email but no response    there were experiencing the same thing ?

[Kanati]

Until now I could not make a withdrawal from an account BTCjam I do not have an active loan
I've been several times to send an email but no response    there were experiencing the same thing ?

How long is "until now"  -- I made a withdraw on April 15.

[Thomas-TM]

How long I have to wait to verify the account? I wait longer than a week

[btiAndy]

How long I have to wait to verify the account? I wait longer than a week

Count yourself lucky the account has not been verified...steer clear of BTCJam completely, bunch of crooks not even smart enough to be good scammers

[owlcatz]

How long I have to wait to verify the account? I wait longer than a week

Count yourself lucky the account has not been verified...steer clear of BTCJam completely, bunch of crooks not even smart enough to be good scammers

Absolutely. They have now shut off USA users, and the defaulters never pay anything back. You won't get anything there but scammed, unless of course you're going to scam, in which case, Tulkas and his crooked crew will simply let it happen to rake the fees. Fucking scammer site.

Re: BTCjam scammers who owe me bitcoin

[Thomas-TM]

I wants to invest in waves (https://bitcointalk.org/index.php?topic=1387944.0) 12 BTC. I know this much, but I can verify my account for my credibility

[degika]

I would like share my story about BTCJam.
We are developing mmorpg game and we need 1 more game programmer but we cant hire because we didnt have enough money so i decide to join btcjam.
i create loan request (borrow) 1 btc they review my request but they decline .
Here is copy of message :
"Your loan listing did not have sufficient information
Your loan listing was not considered a real loan
Your loan listing contained inconsistent information
But my story was real and i was add proof about our business."

it was just 1 btc for help us and i was chose 365 day period easy to pay back.
Sadly ,i think they are really scammers could be ponzi scheme.
Info :Interesting i saw a lot of ppl they ask borrow over 25 - 30 btc and they get it however when normal user wants 1 btc or 0.5 they not approve that.