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

[001sonkit]

I've sent an email to Sytech.

Judging from their page, i doubt if they even nkow WTF is Bitcoin. I am not a master on this aspect, but this is my first impression on it.

*EDIT You are welcome to consult FBI and raid him like Kim Dotcom or DPR if you would like your (soon will be) coins to end up in damn America Government's hand

[gaston909]

anyway, we all hope that TF can pay us back. Lets see if he had a keep his promised in the Chinese Thread too, announce when CL got less Net val than the loaned amt.

second thing, rather not topost in self mod thred despite not really trolling. TF had (and is) a guy who attempt to serves our community (despite he did it wrongly this time). He is respectful to other members (excepts trolls).

But the one that he disrespect the most is himself.

Yes, before he made Inputs.io , he had already been clear, crystal clear about the risk of having a wallet that private key is shared. aka shared wallet or web wallet. He is making this project for making it, while not thinking about the consequences of having 1 vulnerablitiy in wha the made.

The first sence that you got is often right. Trust yourself, respect yourself.

CL got less Net val than the loaned amt - Can you confirm the post for this etc?

[001sonkit]

CL got less Net val than the loaned amt - Can you confirm the post for this etc?

Your requested post

*EDIT
What he says is if the NET value that CL owns can't repay all depositors, he will announce.

Extra data for last post

Sometimes your own instincts is the best to listen to.

...

I also remembered a post that you removed but i can't find it coz it is full of ***** or symbols. Can't find.
I seems pissing here but really, really if you want your future in Bitcoin to be better. Don't do sth for doing it, blindly. Think of what you are doing, listen to your heart.

[C10H15N]

...if you would like your (soon will be) coins to end up in damn America Government's hand

As an American citizen, I am used to them stealing from me.
I would rather a corrupt government have my coin than the scammer/thief who stole them in the first place. 

[gaston909]

CL got less Net val than the loaned amt - Can you confirm the post for this etc?

Your requested post

*EDIT
What he says is if the NET value that CL owns can't repay all depositors, he will announce.

Extra data for last post

Sometimes your own instincts is the best to listen to.

...

I also remembered a post that you removed but i can't find it coz it is full of ***** or symbols. Can't find.
I seems pissing here but really, really if you want your future in Bitcoin to be better. Don't do sth for doing it, blindly. Think of what you are doing, listen to your heart.

Well, based on what has been said there was a lot more than 4000 coins sitting in CL. Some people were heavily heavily invested. So... presuming the assets must be quite significant if they are above this amount, its going to be a long time before all payments come in. Some over the next year or even longer so I dont imagine he will try to start repayments next week unless people WANT to take a haircut. Doesn't make sense otherwise.

[C10H15N]

In the grand scheme of things, I'm quite happy this happened when it did.
This was always a test of honesty, integrity, and business acumen.
My first and only Coinlenders CD was ~20 days from maturity.  Had my mature investment been successfully returned to my wallet, I would have had no hesitation in doubling my next investment.   
The search for a viable and honest bitcoin investment continues...

[ChaosFox]

I've sent an email to Sytech.

Judging from their page, i doubt if they even nkow WTF is Bitcoin. I am not a master on this aspect, but this is my first impression on it.

*EDIT You are welcome to consult FBI and raid him like Kim Dotcom or DPR if you would like your (soon will be) coins to end up in damn America Government's hand

This. And again, I'd rather take a haircut than my coins ending up in the feds' hands, as what presumably happened with Silk Road. THEN it'll be truly lost.

In the grand scheme of things, I'm quite happy this happened when it did.
This was always a test of honesty, integrity, and business acumen.
My first and only Coinlenders CD was ~20 days from maturity.  Had my mature investment been successfully returned to my wallet, I would have had no hesitation in doubling my next investment.   
The search for a viable and honest bitcoin investment continues...

What about BTCJam? As I read it, the website only sets you up with borrowers but most other things are controlled by you, including ultimately the decision to proceed with the loan. Yes, it's a bit higher risk and more trouble since any borrower could default and then you'd lose your money, but all the risk would be distributed so it's not placing all of your money and trust in a single person. I had considered using this instead of CoinLenders for a while, and I wish I had now.

Feels a bit bad to put up competition for CL like that, but since it's dead... *shrug*

[Lohoris]

Yes, before he made Inputs.io , he had already been clear, crystal clear about the risk of having a wallet that private key is shared. aka shared wallet or web wallet.

he advertised it as super-secure...

[Raoul Duke]

Yes, before he made Inputs.io , he had already been clear, crystal clear about the risk of having a wallet that private key is shared. aka shared wallet or web wallet.

he advertised it as super-secure...

Worst than that: he was "hacking" other services left and right and berating the owners for knowing squat about security and that he was so much better than them. 
Right...

[C10H15N]

In the grand scheme of things, I'm quite happy this happened when it did.
This was always a test of honesty, integrity, and business acumen.
My first and only Coinlenders CD was ~20 days from maturity.  Had my mature investment been successfully returned to my wallet, I would have had no hesitation in doubling my next investment.   
The search for a viable and honest bitcoin investment continues...

What about BTCJam? As I read it, the website only sets you up with borrowers but most other things are controlled by you, including ultimately the decision to proceed with the loan. Yes, it's a bit higher risk and more trouble since any borrower could default and then you'd lose your money, but all the risk would be distributed so it's not placing all of your money and trust in a single person. I had considered using this instead of CoinLenders for a while, and I wish I had now.

Feels a bit bad to put up competition for CL like that, but since it's dead... *shrug*

I'm already about as deep into peer-to-peer lending as I want to get (fiat) with Lending Club (steady 14% ROI).
The sad part here is the lost potential.  $1.XX million ain't shit compared to what this business could have produced.   

[gaston909]

In the grand scheme of things, I'm quite happy this happened when it did.
This was always a test of honesty, integrity, and business acumen.
My first and only Coinlenders CD was ~20 days from maturity.  Had my mature investment been successfully returned to my wallet, I would have had no hesitation in doubling my next investment.   
The search for a viable and honest bitcoin investment continues...

What about BTCJam? As I read it, the website only sets you up with borrowers but most other things are controlled by you, including ultimately the decision to proceed with the loan. Yes, it's a bit higher risk and more trouble since any borrower could default and then you'd lose your money, but all the risk would be distributed so it's not placing all of your money and trust in a single person. I had considered using this instead of CoinLenders for a while, and I wish I had now.

Feels a bit bad to put up competition for CL like that, but since it's dead... *shrug*

I'm already about as deep into peer-to-peer lending as I want to get (fiat) with Lending Club (steady 14% ROI).
The sad part here is the lost potential.  $1.XX million ain't shit compared to what this business could have produced.   

Dont underestimate how huge CL is/was based on what people have said on this forum, it has a lot more than 4000 BTC in assets/loaned/invested etc.

[DumbFruit]

I am putting together a list of user accounts, and collating information here: https://bitcointalk.org/index.php?topic=328053

If anyone has information they want me to add, post there or PM me.

Thanks.

[gotpetum]

I think the people that are asking for government / legal intervention are ruinous to the bitcoin community. If you want to live in a place where there are no risks and progress is slow, why bother to venture into the bitcoin world? Aren't you sufficiently happy with the damage you've done in the real world?

There are a bajillion ways to improve the bitcoin economy to make this less likely in the future. Contribute! If you're only capable of requesting the use of direct, uninitiated force against, then... well.. don't.

What will happen to the integrity of the protocol as the majority of its users think we need a safety net to protect victims of carelessness?

[bl4kjaguar]

CoinLenders,

I am only accepting discharge/setoff of my existing loan(s) as payment. You are in default to the tune of ~20.4 bitcoins and it is unconscionable for me to continue paying this loan unless the correct amount which is owed to me is deducted.

Please setoff the loan that I owe and I will pay off the remainder.

I also demand the refund and/or discharge of any late fees (since I am also owed interest).

Thanks for your cooperation in this matter.

Sincerely,
YOUR CREDITOR

[jim667]

I think the people that are asking for government / legal intervention are ruinous to the bitcoin community. If you want to live in a place where there are no risks and progress is slow, why bother to venture into the bitcoin world? Aren't you sufficiently happy with the damage you've done in the real world?

There are a bajillion ways to improve the bitcoin economy to make this less likely in the future. Contribute! If you're only capable of requesting the use of direct, uninitiated force against, then... well.. don't.

What will happen to the integrity of the protocol as the majority of its users think we need a safety net to protect victims of carelessness?

Wise thinking. My respect, sir.

[The 4ner]

In the grand scheme of things, I'm quite happy this happened when it did.
This was always a test of honesty, integrity, and business acumen.
My first and only Coinlenders CD was ~20 days from maturity.  Had my mature investment been successfully returned to my wallet, I would have had no hesitation in doubling my next investment.   
The search for a viable and honest bitcoin investment continues...

So true! I was a week away from collecting my interest returns. 

[mccoyspace]

Has anyone else noticed that the interest rates on CL have changed since yesterday? No more crazy levels, now a nice mainstream 3.5%. Also CDs are now overnight, 1 day loans. So TF continues to make changes to the site even today. What to make of this? My CD still shows the old higher rates.

*edit: sorry, mis read it. .0365% apr! In other words, nothing!

[superbit]

Has anyone else noticed that the interest rates on CL have changed since yesterday? No more crazy levels, now a nice mainstream 3.5%. Also CDs are now overnight, 1 day loans. So TF continues to make changes to the site even today. What to make of this? My CD still shows the old higher rates.

Maybe his plan is to keep coinlenders running, lowering return on deposits to use the extra interest to pay back inputs.io depositors?  If so 3.5% is too low, no one will leave coins there, not sure anyone would at 20% after seeing he keeps 1 million fiat in a hot wallet??

[ChaosFox]

Has anyone else noticed that the interest rates on CL have changed since yesterday? No more crazy levels, now a nice mainstream 3.5%. Also CDs are now overnight, 1 day loans. So TF continues to make changes to the site even today. What to make of this? My CD still shows the old higher rates.

*edit: sorry, mis read it. .0365% apr! In other words, nothing!

Beats me why he's just unable to set it to zero. I don't think any of the remaining BTC are generating any worthwhile interest for him.

[herzmeister]

If so 3.5% is too low, no one will leave coins there

well obviously, he will see to it that people will "leave" their "coins" there for a while. He's easily in the position to do so.