CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available

[Lohoris]

Thanks for your feedback, armchair lawyers.

• Your signature claims that coinlenders is a "⛀+⌚➔⛁ CoinLenders: Bitcoin bank"
• inputs.io claims it can send Bitcoins "Sending Bitcoins", and it is the only accepted deposit method in Coinlenders, implying that Coinlenders knows it is accepting Bitcoins
• inputs.io claims Bitcoins are a currency "Bitcoin is an internet based, decentralized currency. No one controls it, and everyone can use it.", implying Coinlenders knows it is accepting a real currency, no "everything is fictional" bullshit
• if Coinlenders was only a testing platform, it would accept Testnet coins instead
• people apparently can deposit coins at Coinlenders and get them back with interests, so yes it is an investment platform, laws are not that dumb
• your real identity isn't public and you operate two services holding people's money, you don't need to be a lawyer to understand that it's because you well know that what you are doing is well beyond the gray area level, so don't talk me about lawyers...

[kopipe]

Thanks for your feedback, armchair lawyers.

You don't need to be a lawyer to understand that CoinLenders is breaking US law (the jurisdiction it is hosted in).

[gannicus]

just move coinlenders.com to a non-us host. I guess the benefits of doing that are worth the effort.

[cyclops]

At first I was frightened with this TF change, but now I understand why he did this post. As said before the best thing he can do is find a host outside US.

[Kluge]

Outside US, doesn't comply with extradition demands, and doesn't have similar laws.

TO THE MOON!!!

[C10H15N]

Outside US, doesn't comply with extradition demands, and doesn't have similar laws.

TO THE MOON!!!

Overkill.  L5 would work nicely.   

[ChaosFox]

Sorry, these changes are unfortunately the tipping point for me. I have really enjoyed your service and there's nothing inherently wrong with it, but until it can be started anew with servers outside the US, I'll have to withdraw my play money from your live demo populated with real-world data. I'll still happily recommend it to anyone who wants to earn fee rebates on their play money and doesn't mind the risk that comes from trying out a demo site.

[drewph]

Move the server to Singapore like PayPal does. 

[Lohoris]

To all the "move the server" suggestions: unless he moves too, that would be completely useless, I guess.

[001sonkit]

To all the "move the server" suggestions: unless he moves too, that would be completely useless, I guess.

He is not american AFAIK

[420]

i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

[Kouye]

i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

They are regulated in some countries, as TF stated. Whenever you loan over 760€ to your mate, for example, you have to declare it to the state tax-collecting authorities in France, last time I checked.

[001sonkit]

i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

They are regulated in some countries, as TF stated. Whenever you loan over 760€ to your mate, for example, you have to declare it to the state tax-collecting authorities in France, last time I checked.

Server in US and TF is an Asutralian.
Different place have different laws to apply.

[faiza1990]

its all mean Coinlenders in trouble and no one invest in this site now

[CoinATM]

I placed a loan application days ago and have not heard anything. 

On the same day I registered with BTCJam and they verified me three days back.

How long does the process take?

[🏰 TradeFortress 🏰]

I placed a loan application days ago and have not heard anything.  

On the same day I registered with BTCJam and they verified me three days back.

How long does the process take?

To answer your question: generally within 2 days however occasionally there are delays.

Feel free to share if your loan was approved or not.

[CoinATM]

Dear good sir,

I have not been contacted about my loan application yet and so I have no idea if I've been approved or denied:
Loan Application Fee   0.05   2013-08-31 16:49:51

I have verification on each point under the credit system, except the OTC as I have never used that.

For what it's worth I have generated significant interest from the community for our project:
https://bitcointalk.org/index.php?topic=286631.0


Thank you for your consideration.

[beavertank]

I'm always up for helping someone test a neat idea 

[🏰 TradeFortress 🏰]

To miners apply for loans: Using a difficulty increase of 40% a month when the current estimates are >100% is completely inaccurate.

[001sonkit]

To miners apply for loans: Using a difficulty increase of 40% a month when the current estimates are >100% is completely inaccurate.

I assume those loans should be tossed to BTCJAM for brainless people to buy in right?

(Seems you updated your sig TF, BTW consider moving server?)