[ANN] BTCJam - Peer to Peer Bitcoin Lending

[kanes]

What is being done to stop with scammers that register and run away?? Thanks

[RealMalatesta]

What is being done to stop with scammers that register and run away?? Thanks

BTCJam seems to not care. There are tons of scammers, and they do some cross-reference for getting a better rating. The fact that BTCJam claims they have verified the identities makes it even worse...

[btcjamads]

kanes, RealMalatesta

Of course we care about scammers. In fact we are taking in 100s of data points about borrowers (facebook data, linkedin, paypal, ebay, behavior on the site, income, identity, address verification) etc. to do credit scoring. Our algorithms learn over time who's a good repayer and get smarter with every loan. We have now repayment rates around 85%, so it is getting harder for scammers every day and it is absolutely possible to make positive returns.

It is important to DIVERSIFY into many different loans, because there will always be a few defaults. By diversifying into loans where the interest rate charged to the borrower covers the probability of loss, the chances of making good returns increases.

Read more here about how to diversify: http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investors

Also, we are always interested in learning how to better protect people from ponzi schemes and scammers, and if you have any ideas about that please feel free to email me at flavio@btcjam.com

[silverthornne]

So I've just learned about this vulnerability but I access BTCJam through Google authentication and I do have 2FA setup for my Google authentication account. That means that I don't need to set up 2FA for BTCJam since it's using Google's anyway right?

[btcjamads]

So I've just learned about this vulnerability but I access BTCJam through Google authentication and I do have 2FA setup for my Google authentication account. That means that I don't need to set up 2FA for BTCJam since it's using Google's anyway right?

I am not sure what vulnerability you are referring to, there is none that I am currently aware of.
However, we do strongly recommend setting up 2FA for any bitcoin related accounts, including BTCJam. It makes exponentially harder to get hacked, since the hacker would need to have both your account password AND physical access to your phone in order to access your account, which is very unlikely.

[silverthornne]

So I've just learned about this vulnerability but I access BTCJam through Google authentication and I do have 2FA setup for my Google authentication account. That means that I don't need to set up 2FA for BTCJam since it's using Google's anyway right?

I am not sure what vulnerability you are referring to, there is none that I am currently aware of.
However, we do strongly recommend setting up 2FA for any bitcoin related accounts, including BTCJam. It makes exponentially harder to get hacked, since the hacker would need to have both your account password AND physical access to your phone in order to access your account, which is very unlikely.

Post #1225.

[btcjamads]

So I've just learned about this vulnerability but I access BTCJam through Google authentication and I do have 2FA setup for my Google authentication account. That means that I don't need to set up 2FA for BTCJam since it's using Google's anyway right?

I am not sure what vulnerability you are referring to, there is none that I am currently aware of.
However, we do strongly recommend setting up 2FA for any bitcoin related accounts, including BTCJam. It makes exponentially harder to get hacked, since the hacker would need to have both your account password AND physical access to your phone in order to access your account, which is very unlikely.

Post #1225.

We had a security vulnerability through our email provider that temporarily allowed someone make changes to a few user accounts that didn't have 2FA enabled. This issue was rapidly fixed, no customer funds were lost and there has been no vulnerability since then.

[Beulemann]

getting a "500 server error" when trying to access the "payments" page.
starts about 12 hours ago.
try other browser, other pc, other internet connection, still the error.

[U.K.-BTC]

getting a "500 server error" when trying to access the "payments" page.
starts about 12 hours ago.
try other browser, other pc, other internet connection, still the error.

 
Hi Jamers
 
Since about 12 hours I have the same problem. I can not open the "Payments".
 
I am trying since this morning to make my payment, and it does not work. So actually I can not repay my Listing 21604.
 
I have made ​​attempts with Internet Explorer and also with Firefox, have also cache and cookies cleared.
 
I'm little confused because I have received some payments in the meantime.
 
Thanks for any hints.
 
SwissMike

[U.K.-BTC]

getting a "500 server error" when trying to access the "payments" page.
starts about 12 hours ago.
try other browser, other pc, other internet connection, still the error.

 
Hi Jamers
 
Since about 12 hours I have the same problem. I can not open the "Payments".
 
I am trying since this morning to make my payment, and it does not work. So actually I can not repay my Listing 21604.
 
I have made ​​attempts with Internet Explorer and also with Firefox, have also cache and cookies cleared.
 
I'm little confused because I have received some payments in the meantime.
 
Thanks for any hints.
 
SwissMike

 
Update: Since 5 minutes it works now for me, and I could do my payment.

[kanes]

kanes, RealMalatesta

Of course we care about scammers. In fact we are taking in 100s of data points about borrowers (facebook data, linkedin, paypal, ebay, behavior on the site, income, identity, address verification) etc. to do credit scoring. Our algorithms learn over time who's a good repayer and get smarter with every loan. We have now repayment rates around 85%, so it is getting harder for scammers every day and it is absolutely possible to make positive returns.

It is important to DIVERSIFY into many different loans, because there will always be a few defaults. By diversifying into loans where the interest rate charged to the borrower covers the probability of loss, the chances of making good returns increases.

Read more here about how to diversify: http://blog.btcjam.com/post/75934926878/the-3-rules-of-peer-to-peer-lending-for-investors

Also, we are always interested in learning how to better protect people from ponzi schemes and scammers, and if you have any ideas about that please feel free to email me at flavio@btcjam.com

Hi Flavio,

i made some suggestion in the email you send asking for feedback (not for your email, but for a inquire, someone at Btcjam made). Didn't you receive the email?

[btcjamads]

kanes sorry can you specify where you emailed us? can you send again to flavio@btcjam.com ?

thank you

[kanes]

kanes sorry can you specify where you emailed us? can you send again to flavio@btcjam.com ?

thank you

just send a new email

[btcjamads]

kanes sorry can you specify where you emailed us? can you send again to flavio@btcjam.com ?

thank you

just send a new email

just replied

[thecrimson16]

I am having troubles withdrawing BTC...I get the message "Error executing transaction."

[btcjamads]

sorry to hear you are having trouble, can you please send an email to support@btcjam.com?

[thecrimson16]

sorry to hear you are having trouble, can you please send an email to support@btcjam.com?

Thanks...email sent

[zvs]

i would advise caution while dealing with this site, as they're in breach of contract w/ myself.

unfortunately, i can't claim enough in damages to sue them yet, but maybe at some point

ed:  I'll pay a bitcoin if someone can locate the public address where they store images that aren't in thumbprint format:

here are two thumbprint examples, of  'anonymous person X'

https://btcjam.s3.amazonaws.com/identity_checks/img/11455_DL.thumb.jpg?1406251052

https://btcjam.s3.amazonaws.com/addr_checks/img/6616_ins.thumb.jpg?1406251127

ed2:  oh, and if anyone can somehow make out that DL #, PM me.  i'd pay for that, too.  would need to see proof of an image where it is decipherable (to stop people from just finding out 'anonymous person X' DL from some other method)

[btcjamads]

i would advise caution while dealing with this site, as they're in breach of contract w/ myself.

unfortunately, i can't claim enough in damages to sue them yet, but maybe at some point

ed:  I'll pay a bitcoin if someone can locate the public address where they store images that aren't in thumbprint format:

here are two thumbprint examples, of  'anonymous person X'

https://btcjam.s3.amazonaws.com/identity_checks/img/11455_DL.thumb.jpg?1406251052

https://btcjam.s3.amazonaws.com/addr_checks/img/6616_ins.thumb.jpg?1406251127

ed2:  oh, and if anyone can somehow make out that DL #, PM me.  i'd pay for that, too.  would need to see proof of an image where it is decipherable (to stop people from just finding out 'anonymous person X' DL from some other method)

were you able to find any pictures that are not coming straight from your own account?

[silverthornne]

Err, I just received an email from noreply@btcjam.com requesting to verify my email address, but I've had my account open for a month already so how come? Also, when I hover over the link I notice that the URL is not at btcjam.com; instead it forwards to fs-researchcenter.com. I'm just ignoring this email for now but would like to know if it's legit.