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Author Topic: So how often are loans defaulting on BTCjams ?  (Read 1265 times)
bbit
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December 08, 2012, 04:23:25 AM
 #1

How many times are loans not being repaid back?  Thinking of going in it there.


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gweedo
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December 08, 2012, 04:28:23 AM
 #2

If you know what to look for you wont get one that defaults. Some loans you can tell will never pay back.

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December 08, 2012, 04:32:05 AM
 #3

If you know what to look for you wont get one that defaults. Some loans you can tell will never pay back.

true,true just wonder what the failure rate is on that site. Should be listed in a nice big fashion somewhere so know how many scammers we are dealing with you know.


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▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
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December 08, 2012, 04:43:21 AM
 #4

If you know what to look for you wont get one that defaults. Some loans you can tell will never pay back.

true,true just wonder what the failure rate is on that site. Should be listed in a nice big fashion somewhere so know how many scammers we are dealing with you know.

I think btcjam posted that they are at a 77% repayment rate, but just search the forums.

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December 08, 2012, 11:13:57 AM
 #5

Let's do some math!

Average loan duration 1 month, average repayment rate 77%, average interest rate 5% per month.

January: start with 1000 BTC, get back 770 btc + 5% interest, for a total of 808.5 BTC
February: start with 808.5 BTC, get back 622.545 btc + 5% interest, for a total of 653.67225 BTC
March: start with 653.67225 BTC, get back 503.3276325 btc + 5% interest, for a total of 528.494014125 BTC
April: start with 528.494014125 BTC, get back 427.28741042 btc + 5% interest, for a total of 448.651780941 BTC
May: start with 448.651780941 BTC, get back 345.461871325 btc + 5% interest, for a total of 362.734964891 BTC
June: start with 362.734964891 BTC, get back 279.305922966 btc + 5% interest, for a total of 293.271219114 BTC
July: look at your 293.271219114 BTC which spells out a 70% realized loss over barely six months and think about what a retard you were.

Once the GLBSE scam mothership is out of the way, Average Forum Idiot is desperately looking for some new ways to ensure his customary BTC losses. All the while telling himself that he's oh so great and "If you know what to look for you won't get one that defaults."

Too stupid to live is the term of art.

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December 08, 2012, 02:31:44 PM
 #6

Once the GLBSE scam mothership is out of the way, Average Forum Idiot is desperately looking for some new ways to ensure his customary BTC losses. All the while telling himself that he's oh so great and "If you know what to look for you won't get one that defaults."

Too stupid to live is the term of art.

I have yet to be scammed so I think that speaks for it self. It is actually pretty easy. I am not an average forum idiot, unlike you who probably can't spot these. First off I would never dump 1000BTCs into btcjam p2p loans aren't good for trying to hedge your funds. Also you really never even pointed out anything, cause not every loan I invest is 5% interest. Your little math thing takes a lot of liberals in numbers.

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December 09, 2012, 08:23:26 AM
 #7

I have yet to be scammed so I think that speaks for it self.

Indeed it does.

I am not an average forum idiot, unlike you who probably can't spot these.

You are VERY MUCH the average forum idiot. In fact, if I was asked to typify the average forum idiot I'd probably have said gweedo. This is obviously not what you believe. The reason is that you're an idiot, which makes you confident. For further details read this paper. Or, in the awkward words of some scammy fuck,

I am a 33 year old poker player. 

I have been scammed and know how to spot scams. 

I know most of you BTC kiddies are still very young.  

I should take advice from a gambler?  I think not.

You admit to have been taken in by scams, so obviously don't know how to spot them.

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December 09, 2012, 08:28:11 AM
 #8

I have yet to be scammed so I think that speaks for it self.

Indeed it does.

I am not an average forum idiot, unlike you who probably can't spot these.

You are VERY MUCH the average forum idiot. In fact, if I was asked to typify the average forum idiot I'd probably have said gweedo. This is obviously not what you believe. The reason is that you're an idiot, which makes you confident. For further details read this paper. Or, in the awkward words of some scammy fuck,

I am a 33 year old poker player. 

I have been scammed and know how to spot scams. 

I know most of you BTC kiddies are still very young.  

I should take advice from a gambler?  I think not.

You admit to have been taken in by scams, so obviously don't know how to spot them.


Let's do some math!

Oh wait, 77%? "No results found for bitcoinjam 77% "

Instant rimshot.

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December 09, 2012, 04:12:08 PM
 #9

I have yet to be scammed so I think that speaks for it self.

Indeed it does.

I am not an average forum idiot, unlike you who probably can't spot these.

You are VERY MUCH the average forum idiot. In fact, if I was asked to typify the average forum idiot I'd probably have said gweedo. This is obviously not what you believe. The reason is that you're an idiot, which makes you confident. For further details read this paper. Or, in the awkward words of some scammy fuck,

Because I am confident in my lending and scam finding abilities that makes me the forum idiot. Well I have been doing p2p lending for a while now probably over 3 years and I have yet to be scammed so I think that makes me an expert.

Want to earn 2500 SATOSHIS per hour? Come Chat and Chill in https://goseemybits.com/lobby
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