[ANN] BTCJam - Peer to Peer Bitcoin Lending

[LoweryCBS]

Looks like they changed it from "MAC" to Maya:    https://btcjam.com/users/1641

http://[center]***WARNING***[/center]

It has been brought to my attention that a new user on BTCjam is using my ID "MAC" and trying to emulate me. His original loan ad and title were exact duplicates of a previous one I had ran. He has since changed the ad but has kept the user ID of "MAC" So please don't accidentally invest in him.

Celso, you seriously need to invest a little time to make your site better. I have made many suggestions as i am sure other have as well. You have a feedback forum but from what I can tell you haven't enacted upon any ideas.

My newest suggestion is to not allow people to create duplicate user ID's. In addition it may be a good idea to watermark all profile pictures so the scammers can't copy that as he did the rest on one of my previous loan ads.

I think BTcjam is great site but with a little more commitment you can make it a little more bulletproof for the legit people who are trying to utilize Bitcoins for a legit purpose.

Duplicate aliases are not allowed, can you point the user profile please? (Good point about watermarking)

[Tulkas]

Hey, love the new Receivables info box on the payments page! ... No more going through links myself to find info.  One tip, can you make it fixed(, rather than fixed(2)?  Looks like you have a lot of white space you can fill, and would match what you have down in the table.

Thanks for adding that data though!

Thanks! Will try to arrange more space.

[ThaddeusB]

Hello,

I am having a few issues with my BTCJam account.  Emails have been ignored, so I'll post here.

1: When I try to sync eith my OTC user name, I get "Error retrieving gpg keyid."  I am sure the GPG key is correct: I have used it to log into OTC today and can manually query the server and find it.  Any suggestions on how to fix this?

2: When I tried to verify my phone number, I got a "something went wrong" message.  Can you reset it, so I can try again?

3: CRUCIAL ERROR - I can't change my withdrawal address.  When I try to update my settings, it complains "Phone checks is too long (maximum is 3 characters)" even though the phone check isn't even on that page.

My BTCJam ID is ThaddeusB.

Thanks

[Tulkas]

Hello,

I am having a few issues with my BTCJam account.  Emails have been ignored, so I'll post here.

1: When I try to sync eith my OTC user name, I get "Error retrieving gpg keyid."  I am sure the GPG key is correct: I have used it to log into OTC today and can manually query the server and find it.  Any suggestions on how to fix this?

2: When I tried to verify my phone number, I got a "something went wrong" message.  Can you reset it, so I can try again?

3: CRUCIAL ERROR - I can't change my withdrawal address.  When I try to update my settings, it complains "Phone checks is too long (maximum is 3 characters)" even though the phone check isn't even on that page.

My BTCJam ID is ThaddeusB.

Thanks

Hello, the account was froze due the multiple phone verification attempts. I've reseted it.

[ThaddeusB]

Hello again,

I replied to your PM within a few hours.  Three days later, you haven't gotten back to me about the OTC issue.  If you could let me know why I am having problems with it, I would apprfeciate it.

Thanks,
Thaddeus

[cosmicone]

So my last few loans have been to all deadbeats it seems.

They show as verified, and had positive transactions in the past (probably just to set up their scam).

Anyway, BTCJam shows them as verified, but doesn't share that data.. how can we get it, to followup on these deadbeats?

[BurtW]

So my last few loans have been to all deadbeats it seems.

They show as verified, and had positive transactions in the past (probably just to set up their scam).

Anyway, BTCJam shows them as verified, but doesn't share that data.. how can we get it, to followup on these deadbeats?

Who are they?

[cosmicone]

So my last few loans have been to all deadbeats it seems.

They show as verified, and had positive transactions in the past (probably just to set up their scam).

Anyway, BTCJam shows them as verified, but doesn't share that data.. how can we get it, to followup on these deadbeats?

Who are they?

Omega, Scayfine, and soon to be Darkko

[Charles Bass]

And Number1....
The Problem is that bitcoin value gets higher, its more expensiv and harder to Pay loans back..

[cosmicone]

And Number1....
The Problem is that bitcoin value gets higher, its more expensiv and harder to Pay loans back..

Poor excuse!  But I hear what you're saying.  There is always a risk that any currency will go up or down when compared to your local currency.

Rule of thumb pay back your loans!  As it stands right now, if anyone pays me back at all, I'll remove that money from BTCJam.. too much risk, and there is no reward for the lenders.  I think the site owners need to move in and do a better job, otherwise there will be no one left to loan, and the site will just collapse.

[deadweasel]

And Number1....
The Problem is that bitcoin value gets higher, its more expensiv and harder to Pay loans back..

Poor excuse!  But I hear what you're saying.  There is always a risk that any currency will go up or down when compared to your local currency.

Rule of thumb pay back your loans!  As it stands right now, if anyone pays me back at all, I'll remove that money from BTCJam.. too much risk, and there is no reward for the lenders.  I think the site owners need to move in and do a better job, otherwise there will be no one left to loan, and the site will just collapse.

Another stupid person who doesn't understand P2P loans... Please google it and then you will not be dumb. I will always be on btcjam I yet to be scammed cause you have to accept responsibility for the loans you make. Obviously you didn't read the loans just went by verification score. That is very bad, and now your mad so you think the site sucks, that is a poor excuse for your stupidity. I would teach you how to pick good loans but then why would I do that, so 10btcs I can help you pick loans and take a way a lot of risk by looking at the actual loan and not there scores.



THIS GOES FOR ANYONE, IF YOU NEED HELP PICKING LOANS I CAN HELP YOU, FOR 10btcs you get 30mins skype call and you can learn about the way a profesional picks loans and never gets scammed!

I'll show you how for 5BTC.  This other guy is a total scammer. 

[LoweryCBS]

Amen.

I'm pretty sure that a 50% 90-day loan for "Hookers and Blow" (regardless of the rating) is not where you should put your funds.

I've had 100% success with loans there, thus far. It's just a simple matter of differentiating between:

The Good: https://btcjam.com/listings/584
The Bad: https://btcjam.com/listings/1466
The Ugly: https://btcjam.com/listings/1506

How difficult is that?

[ThaddeusB]

Amen.

I'm pretty sure that a 50% 90-day loan for "Hookers and Blow" (regardless of the rating) is not where you should put your funds.

I've had 100% success with loans there, thus far. It's just a simple matter of differentiating between:

The Good: https://btcjam.com/listings/584
The Bad: https://btcjam.com/listings/1466
The Ugly: https://btcjam.com/listings/1506

How difficult is that?

Considering a total of zero people invested in either of the bad loans you pointed out, its pretty obvious that no one is having trouble differentiating between garbage like those and legit opportunities. If you and your pal gweedo really brag about how awesome you are, either disclose your full record or point out current loans where people are investing that you think are scams.  Pointing to empty listings that absolutely no one was stupid enough to invest in hardly proves you are smarter than anyone else.

[cosmicone]

Another stupid person who doesn't understand P2P loans... Please google it and then you will not be dumb. I will always be on btcjam I yet to be scammed cause you have to accept responsibility for the loans you make. Obviously you didn't read the loans just went by verification score. That is very bad, and now your mad so you think the site sucks, that is a poor excuse for your stupidity. I would teach you how to pick good loans but then why would I do that, so 10btcs I can help you pick loans and take a way a lot of risk by looking at the actual loan and not there scores.

Maybe you should re-read what I wrote.  I never mentioned anything about the site sucking.  I said that if the people requesting loans are only there to scam and default, there will be no lenders, and the site will collapse.

I read every loan, keeping in mind that any text could be complete bullshit.  I only loaned on reasonable sounding ones with people that have positive feedback and previous loans.  I only lent what was I willing to lose. 

Post up your BTCJam loans, let's see your track record.

[Tulkas]

Another thing is it's extremely easy to game the rating system on BTCJam. Simply lend 1 satoshi to every loan on the site and you'll have instant high rep.

This is no longer possible.

We improved the rating and reputation system.

Of course some users will try to game the system, but as you noticed the transparency about the transactions allowed you to spot the trick and avoid investing on suspicious ratings, even before the improvement.

All the "bogus" ratings were removed.

[cosmicone]

I have lost nothing, I have never been scammed on btcjam. You did say the site sucks, cause you can't pick non-scammers from scammers. In every p2p lending site, people will be scammed, people are scammed here on this forum, so to say that people that requesting to just scam, will drive away lenders is so dumb. Cause people like me know where the scammers are and how to avoid them you honestly didn't. As btcjam's owner said they do 77% payback that is a good number right now, you picked the scammers your dumb. Sorry, that is life, I was willing to help you for 10btcs.

Don't get your panties in a knot.  I only do BTC for shits and giggles... waste time while working.

PS: It's you're dumb.. not your dumb.  Ironic eh?

[BurtW]

I would consider using BTCJam again if it was possible for potential lenders to submit a request for the users docs which would need to be accepted by the lendee. I also think it needs a PM system.

I agree.  I have been lending BTC for a long time and have only had a few bad loans in all of my time lending.  

I have my own methods of weeding out the scammers but since I cannot see the docs I cannot apply them all.

BTCJam would be a lot more useful if lenders could take a look at the documents before making a loan.

Perhaps "large" lenders with "high" reputation could get access to all docs when the loan is "large" - where all the terms in quotes would need to be well defined.

As it stands I only do very small loans on BTCJam mostly just to try out the system and still do most of my lending through the forum and its PM system where I can request and get all docs before I make a loan.

[ThaddeusB]

Another stupid person who doesn't understand P2P loans... Please google it and then you will not be dumb. I will always be on btcjam I yet to be scammed cause you have to accept responsibility for the loans you make. Obviously you didn't read the loans just went by verification score. That is very bad, and now your mad so you think the site sucks, that is a poor excuse for your stupidity. I would teach you how to pick good loans but then why would I do that, so 10btcs I can help you pick loans and take a way a lot of risk by looking at the actual loan and not there scores.

Maybe you should re-read what I wrote.  I never mentioned anything about the site sucking.  I said that if the people requesting loans are only there to scam and default, there will be no lenders, and the site will collapse.

I read every loan, keeping in mind that any text could be complete bullshit.  I only loaned on reasonable sounding ones with people that have positive feedback and previous loans.  I only lent what was I willing to lose.  

Post up your BTCJam loans, let's see your track record.

I have lost nothing, I have never been scammed on btcjam. You did say the site sucks, cause you can't pick non-scammers from scammers. In every p2p lending site, people will be scammed, people are scammed here on this forum, so to say that people that requesting to just scam, will drive away lenders is so dumb. Cause people like me know where the scammers are and how to avoid them you honestly didn't. As btcjam's owner said they do 77% payback that is a good number right now, you picked the scammers your dumb. Sorry, that is life, I was willing to help you for 10btcs.

LOL.  You have nothing currently invested and cut the amount paid back from your picture (probably because you invested like 1 coin ever), yet you spend endless time here promoting the site, talking about how awesome you are at lending, and calling everyone else a fool?!  Thanks for proving what everyone already knew - you are a douchebag full of nothing but hot air.

[John (John K.)]

ZOMG SHOOP!

I agree with what your saying, there is a skill in picking out the non-scammers. the total I have been scammed for is <0.5BTC (those loans were mainly "for the lulz"). I had around 80BTC invested in the site at one point. The only thing I don't like about BTCJam is the lack of comeback against scammers as they will not release the docs, which is why I've decided to stop using it.

Thank goodness I haven't started investing yet.

[Monster Tent]

Another thing is it's extremely easy to game the rating system on BTCJam. Simply lend 1 satoshi to every loan on the site and you'll have instant high rep.

This is no longer possible.

We improved the rating and reputation system.

Of course some users will try to game the system, but as you noticed the transparency about the transactions allowed you to spot the trick and avoid investing on suspicious ratings, even before the improvement.

All the "bogus" ratings were removed.

It might improve things if you built judge.me into the system so that there is a way to go after people. The documents supplied by the lendees could be handed to a judge on the case.