DiamondCardz
Legendary
 Offline
Activity: 1134
Merit: 1112
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January 06, 2015, 07:09:55 PM |
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Unfortunately I was a little bit too optimistic on that 2 weeks forecast. We plan to use the personal information to collect the debts but we cannot simply hand it to lenders (as much as we sometimes want to do it).
I've just updated the service numbers:
loans: 312
total payments: 1463
payments late: 333
fully repaid loans: 155
We have a repayment rate of 77.23%
This doesn't look like a "scammer heaven" at all.
The listings are as good as the borrowers who make then, as far as censoring the "scammy" listings we are not sure about that.
[as last stated, admittedly a while ago now] If that's still approximately correct...which considering BTCJam, it probably is...you're doing much better. Not bad at all. |
BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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grendel25
Legendary
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Activity: 2296
Merit: 1031
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March 02, 2015, 04:41:17 AM |
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So, a user in the newbie forum was asking if there were bitcoin banks where you could put your bitcoin and even get interest. I referred him/her to your site.
Are deposits insured at all? I guess I can just poke around in your site more and see what the security is like. Hopefully I'll find 2FA and that good stuff.
Now I'm interested... time to dig up reviews :-)
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Grand_Voyageur
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March 02, 2015, 05:01:48 AM |
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So, a user in the newbie forum was asking if there were bitcoin banks where you could put your bitcoin and even get interest. I referred him/her to your site.
Are deposits insured at all? I guess I can just poke around in your site more and see what the security is like. Hopefully I'll find 2FA and that good stuff.
Now I'm interested... time to dig up reviews :-)
So far, no bitcoin banks exists and anyone telling you there are is a scammer trying to prey on your hard-earned bitcoins ( BTC). Bitbond is a lending platform, a Marketplace-like place where people who need capital meet the ones looking to lend it. AFAIK funds you deposit in your Bitbond account are not insured as your fiat money denominated funds put in your real life bank account. |
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Fugger (OP)
Member
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Activity: 156
Merit: 10
Founder of Bitbond
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March 02, 2015, 10:58:16 AM |
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So, a user in the newbie forum was asking if there were bitcoin banks where you could put your bitcoin and even get interest. I referred him/her to your site.
Are deposits insured at all? I guess I can just poke around in your site more and see what the security is like. Hopefully I'll find 2FA and that good stuff.
Now I'm interested... time to dig up reviews :-)
Hi, thanks for checking Bitbond out. We are not a bank and deposits are not insured. We do have 2fa in place though. Bitbond is a peer-to-peer lending platform. You earn interest with your bitcoins when you lend them to others. The loan listings on our platform are published by borrowers who went through a credit check with us. You can read about why we think that this is a much better concept than that of a bank here: http://blog.bitbond.com/6-reasons-bitcoin-loans-are-the-way-of-the-future/If you start lending, we recommend this blog post: http://blog.bitbond.com/5-principles-of-bitcoin-lending/ |
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Fugger (OP)
Member
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Activity: 156
Merit: 10
Founder of Bitbond
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March 02, 2015, 11:09:26 AM |
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AFAIK funds you deposit in your Bitbond account are not insured as your fiat money denominated funds put in your real life bank account.
Yes, that's correct. And we think it's much better this way. Deposit insurance as applied by banks has a number of disadvantages: - the insurance is expensive. therefore the associated cost is passed to the bank's customers via higher fees
- the bank's customers think that everything is insured and therefore don't bother where they actually put their money. if deposits were not insured, banks would have to innovate more to convince customers why they should bank with them. at the same time many people aren't aware that deposit insurance always has a cap and only part of your deposits are insured
- in a really nasty bank ran also deposit insurance can run out of liquidity and the whole insurance is worthless
- banks get to "play" with the deposits of its customers and invest these deposits into much riskier assets than they would if their customers were holding them liable for losses
Hence we think that p2p lending is a better concept. It has - much lower fees
- much better interest rates than bank deposits
- you manage the level of risk you take on your own
- it makes the financial system more resilient
Se also this blog post: http://blog.bitbond.com/6-reasons-bitcoin-loans-are-the-way-of-the-future/ |
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DiamondCardz
Legendary
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Activity: 1134
Merit: 1112
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March 31, 2015, 09:47:59 PM |
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How much of a weight does the monthly salary of someone requesting a loan have on that person's rating?
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BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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Fugger (OP)
Member
Offline
Activity: 156
Merit: 10
Founder of Bitbond
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March 31, 2015, 09:58:16 PM |
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How much of a weight does the monthly salary of someone requesting a loan have on that person's rating?
We don't disclose the weight of individual rating factors. But we can tell you this much: the salary's main impact is on the amount someone can borrow (the "debt capacity"). The rating (represented as a letter ranging from A to F) is is calculated based on many factors of which the salary is only one factor. |
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Grand_Voyageur
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April 04, 2015, 03:53:37 PM |
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Hey Fugger, I really like the new Bitbond look but i would find more filter options like this & this other even more useful to manage my portfolio. Any prospect of having them available, soon? |
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Fugger (OP)
Member
Offline
Activity: 156
Merit: 10
Founder of Bitbond
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April 04, 2015, 09:53:50 PM |
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Hey Fugger, I really like the new Bitbond look
Cool, thank you! i would find more filter options like this & this other even more useful to manage my portfolio. Any prospect of having them available, soon? We added the item "add more filters" to our product backlog. It's hard to make a reliable promise when this will be available. Within the next 3 weeks could be realistic. |
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