SynOps (OP)
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BitFi Services
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November 28, 2012, 09:57:37 AM
Last edit: November 29, 2012, 06:01:13 AM by SynOps |
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How has anyone's experience been using this site. I know it is rather newer. I have been on it a bit, and had some defaulters, but most are paying. And I pay all my loans early.
What is your opinion on this site?
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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MPOE-PR
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November 28, 2012, 01:39:50 PM |
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Wait, you borrow and then lend?
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TheDarKnight
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November 28, 2012, 05:08:05 PM |
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It is a scam site.
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rini17
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November 28, 2012, 09:21:53 PM |
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I am using it for short term business loan and must say the loan dashboard is utterly confusing and I opted to verify exact loan repayment terms with support. It's loan #517, will post more detailed explanation when i'll be on pc.
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SynOps (OP)
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BitFi Services
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November 29, 2012, 05:59:38 AM |
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Wait, you borrow and then lend?
No, I keep my Loan book and Lending book separate, or else it would cause me to default if others defaulted, that would be absolutely stupid to do, and be highly unproductive. |
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sega01
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November 29, 2012, 06:39:07 AM |
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BTCJam is a great site, but you have to be very careful as an investor. I've lost a lot of Bitcoins to scammers. There are active, repeat scammers who are very creative. Others are just college students looking for handouts who don't intend on paying back. Look for only rated members with an identity that you can fall back on. Best bet is probably to invest in Lurk's many loans; they pay out well for how early he pays them off.
Interface is a little cluedgy in spots, but I think it's good on the whole. I've never asked for a loan on the site, so I can't say from that side of it. Developers are very responsive.
My two bitcents,
Teran
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Seal
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December 01, 2012, 12:05:16 AM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. |
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SynOps (OP)
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Activity: 140
Merit: 100
BitFi Services
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December 02, 2012, 01:43:31 PM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. I agree , it is NOT a scam site, however as any place, there are scammers present. So yes, be careful who you invest with. And never take out loans to pay other loans you owe on, you will end up with no investors. Keep your loan books and investment loans separate if you deal with both. I have been pretty good success lately on there, so I am happy so far. |
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andrew12
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December 02, 2012, 08:47:04 PM |
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I really like the idea, but it seems difficult to get funds for anything unless you have a backup plan for everything.
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TheDarKnight
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December 03, 2012, 12:44:42 AM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. So it's a scam site then. If it doesn't say it on the tin then what does it contain? Dummy. |
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Seal
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December 04, 2012, 10:20:16 PM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. So it's a scam site then. If it doesn't say it on the tin then what does it contain? Dummy. ... scammers operate on this forum, so by your logic this forum is a scam forum? Learn what btcjam's product is before you criticise it. |
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BR0KK
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December 04, 2012, 11:36:09 PM |
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tried it two times and both lenders defaulted .... Nice idea... but not a solution other to get ripped of your money very fast :!
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nobbynobbynoob
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December 04, 2012, 11:50:09 PM |
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I'm somewhat involved with BTCjam and have even done business with SynOps above, who's been shown to be very reliable and honest, from what I've witnessed/experienced. A couple of borrowers have sadly defaulted, although it could just be a late payment issue and they will repay at some point (especially seeing as their ID etc. is verified and they're interested in extending their credit line, which is impossible if you're late paying existing debt). If I wind up losing funds via this site, it will at least be an interesting experience. I could tell a tale in future if one BTC is worth millions of $$$, of how I lost "millions" on a lending site!  |
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TheDarKnight
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December 08, 2012, 05:04:55 AM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. So it's a scam site then. If it doesn't say it on the tin then what does it contain? Dummy. ... scammers operate on this forum, so by your logic this forum is a scam forum? Learn what btcjam's product is before you criticise it. Yes, scammers do operate on this forum - but then I am not recommending people to go about using them and taking them for their word, am I?  ? I'm sorry but whoever you are, you are encouraging people to put themselves in financial jeopardy on a site like that. I am testimony to the fact you will get 'don in' on that site as I am already owed at least 15 payments amounting to about half a dozen BTC. Thanks for contradicting me on this... |
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guruvan
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December 08, 2012, 06:19:16 AM |
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Yes, scammers do operate on this forum - but then I am not recommending people to go about using them and taking them for their word, am I? ? Neither is BTCjam, and neither is anyone else recommending to go about taking anyone for their word in finance. Obviously you've not read BTCjam's warnings which are very prevalent, here on this forum, if not on their site. I am seriously considering using BTCjam to raise some funds while raising some funds on Kickstarter (really, to pay for a highly successful kickstarter rewards package) - I prefer Kickstarter's reward model to the BTCjam loan model, but BTCjam's is much quicker to get in gear. Furthermore, it's not the case that every loan that you make will be repaid, but that doesn't make every default a scam. If you make a loan to a startup business, and the business fails, you will likely lose your money, but that doesn't mean you've been scammed. It means that, just like getting scammed, you likely failed to perform due diligence before investing. |
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Seal
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December 08, 2012, 11:29:39 PM |
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It is a scam site.
Its not a scam site. It does however have scammers who operate on it, so be careful. So it's a scam site then. If it doesn't say it on the tin then what does it contain? Dummy. ... scammers operate on this forum, so by your logic this forum is a scam forum? Learn what btcjam's product is before you criticise it. Yes, scammers do operate on this forum - but then I am not recommending people to go about using them and taking them for their word, am I? ? I'm sorry but whoever you are, you are encouraging people to put themselves in financial jeopardy on a site like that. I am testimony to the fact you will get 'don in' on that site as I am already owed at least 15 payments amounting to about half a dozen BTC. Thanks for contradicting me on this... Have a re-read TheDarkNight... I have not made any statement 'encouraging people to put themselves in financial jeopardy', neither am i 'contradicting you' so no need to feel insulted. FYI for the record, I am also owed more in defaulted repayments then you are owed, way more than half a dozen BTC. What BTCjam does is called peer to peer lending, its a business model which is well proven and is not a scam which you claim. You sound very disgruntled at the fact you took the financial risk and lost out. Accept it and move on and see the site for what it is instead of labelling it because of your own misfortune. That is slander. |
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mjc
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December 24, 2012, 08:41:20 PM |
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I lend there, I look for barrows with a credit rating of 8 and short term loans with good interest rates. So far the loans that have paid have covered the long shoots. Occassionally I will put a small amount on a long shoot. I'm learning all long shots are a waste of time.
There are a number of really good long term loan options as well.
+1 I have had a really good experience there thus far. It is not a scam site.
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felipelalli
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December 27, 2012, 02:55:29 PM
Last edit: June 01, 2015, 11:01:40 PM by felipelalli |
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I lost some bitcoins there. It is a pitty. I ask to site send me the Facebook of the guy, but the site never replied my email.
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legitnick
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December 28, 2012, 09:52:02 AM |
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So far I've made every payment on time.
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zaj
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January 03, 2013, 12:44:30 AM |
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if i was you i wouldn't put any coins there. the operators refuse to do anything against scammers even when they have all the info they need. (the taxi company dude even put photos on the website to proof it was legit loan request)
lost 10 out of my 12 coins i put there after about 5 loans of wich 2 defaulted. and i'm not a retard to blindly invest in obvious scams... those are just people borrowing and not paying back because they know the site admins won't do shit either way
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