⚡️⚡️⚡️[ANN] [PRE-ICO] LendsBay | Credit ecosystem

[Corleone100]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

[jamzzz123]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

good to see the world cup competition marketing has done well Seen an increase of individuals who have started posting on the thread and within the telegram channel.

[RyCriptoC]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

good to see the world cup competition marketing has done well Seen an increase of individuals who have started posting on the thread and within the telegram channel.

There was world cup competition? And there was LendsBay token as price? I missed this completely.

Anyway congratulations mate!

[iphy6013]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

good to see the world cup competition marketing has done well Seen an increase of individuals who have started posting on the thread and within the telegram channel.

There was world cup competition? And there was LendsBay token as price? I missed this completely.

Anyway congratulations mate!

Sorry mate, I found out about it on this thread, you should keep a close eye on this thread often. Congrats to you @faulerwilli

[ctrades31]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

Hey, maybe this is somehow connected with what faulerwilli wrote above:

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Then I am unlucky that I never seen or missed this news about competition and rewards. But it's nice to see that people are earning free tokens from them by participating in any contest/compilation.

[ibininja]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

Hey, maybe this is somehow connected with what faulerwilli wrote above:

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Then I am unlucky that I never seen or missed this news about competition and rewards. But it's nice to see that people are earning free tokens from them by participating in any contest/compilation.

I was lazy to participate lol congratulation for the win. I think you made a good guess; France did deliver a good game in the end.

[chan001]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

Hey, maybe this is somehow connected with what faulerwilli wrote above:

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Then I am unlucky that I never seen or missed this news about competition and rewards. But it's nice to see that people are earning free tokens from them by participating in any contest/compilation.

I was lazy to participate lol congratulation for the win. I think you made a good guess; France did deliver a good game in the end.

Congratulations Faulerwilli! I also missed this contest, when it was started and where they had announced it?

[Nathan01]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Do you really think lending to friends and acquaintance reduces the risk? I rather trust complete strangers to be people who might as well give me any excuse in the word just cos they are close to me 

[gee777]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

good to see the world cup competition marketing has done well Seen an increase of individuals who have started posting on the thread and within the telegram channel.

There was world cup competition? And there was LendsBay token as price? I missed this completely.

Anyway congratulations mate!

I knew about it but was too lazy to play the competition as i did not know who might win or lose. Anyways congrats to you on earning 5 LendsBay token.

[Ace44]

Interesting details I found from whitepaper. "Depending on the stage of the ICO, the price for one LBT token will vary from 0.0005 to 0.0010 Ethereum (the only currency with which you can buy LBT tokens). All unsold tokens will be destroyed." But I still didn't found that which currencies we can use to invest in ICO.

I think you can only use eth to buy LBT tokens, maybe the team should consider Fiat payment too this way they can get different kind of investors and also new investors who do not have a lot of knowledge from the crypto world.

According to the whitepaper the only currency for payment is ETH. They should think about other currencies or maybe fiat payment.

Now we accept ETH and BTC (the possibility of accepting BTC appeared recently)

Glad to see that they listened, it will be better they put some other currencies like LTC, DASH XRP etc so they give more option to investors who are willing to purchase more and they don't want to go through the hurdles of changing their base currency

Yea, its nice to create preferences for the community but at the moment, the two major cryptocurrencies can slide and if they intend to add the others, it will be nice, as it will give room for accessibility, which is what investors love but for the fact that they have added BTC is a clear statement that they are listening to the community   

[Darkoth89]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congratulations to you, I guess this World Cup competition was used as an awareness campaign and I’m sure Lendsbay benefited by attracting more investors and people through this means. But I had no idea about this competition .

good to see the world cup competition marketing has done well Seen an increase of individuals who have started posting on the thread and within the telegram channel.

There was world cup competition? And there was LendsBay token as price? I missed this completely.

Anyway congratulations mate!

I knew about it but was too lazy to play the competition as i did not know who might win or lose. Anyways congrats to you on earning 5 LendsBay token.

Nice one mate!! I predicted Russia as they were playing so well early on.. Croatia was so close to winning, what an amazing tourney the team had, and grats to you faulerwilli!

[Owillz]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

How do they select the top followers? I mean on what criteria are they ranked top?? By the way congratulations to the winners though

[vabchgent]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Very good information, thanks for sharing! So even though we don't need to hold LB tokens we still need to buy some before taking loan from anyone.

Found out some more information from the team about loan defaults on the Lendsbay app today. Lendsbay facilitate the signing of an enforcable contract between the lender and borrower. If there is default and someone fails to make their repayments, the app can generate an application for a court claim if the lender wishes to pursue this action. The lender then goes to court personally or with assistance of Lendsbays specialists. The claim will be enforced by bailiffs and the credit rating of the borrower will fall on the app and it probably become impossible for them to borrow money from their personal network again.

Is the enforceable contract also required if the lender provides sufficient deposit? Contracts cost money and it would be better to not even need them.

[phantam]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

How do they select the top followers? I mean on what criteria are they ranked top?? By the way congratulations to the winners though

Probably most  Active promoting the project on social media I mean it makes sense to reward people who are helping the project  to grow hopefully they will continue to do small things like this that with the community knows they’re being rewarded for helping the project grow overtime

[em777]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

lendsbay held a world cup betting challenge I believe those people won, I was too carried away  I couldn't participate any congratulations to all of em

[CryptoBeefy]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Very good information, thanks for sharing! So even though we don't need to hold LB tokens we still need to buy some before taking loan from anyone.

Found out some more information from the team about loan defaults on the Lendsbay app today. Lendsbay facilitate the signing of an enforcable contract between the lender and borrower. If there is default and someone fails to make their repayments, the app can generate an application for a court claim if the lender wishes to pursue this action. The lender then goes to court personally or with assistance of Lendsbays specialists. The claim will be enforced by bailiffs and the credit rating of the borrower will fall on the app and it probably become impossible for them to borrow money from their personal network again.

Good work that's awesome to hear, so glad they have a built in mechanism to handle a default of payment, good job LendsBay

[phantam]

They default proceedings was bound to be a hot button issue so it’s good that the team really is putting efforts to streamline it and people realize these loans will be no joking manner they are real person to person loans

[Mr. Boat]

Loving these shillas talking about the next "lending coin" scam, just wait..... then you will all change your tune.

[gee777]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

How do they select the top followers? I mean on what criteria are they ranked top?? By the way congratulations to the winners though

Wow this is interesting. 5 LendsBay to their twitter followers. This is very appreciative of the team and very rewarding for the Followers.

[em777]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

How do they select the top followers? I mean on what criteria are they ranked top?? By the way congratulations to the winners though

Wow this is interesting. 5 LendsBay to their twitter followers. This is very appreciative of the team and very rewarding for the Followers.

They are not just rewarding random followers the winners participated in their world cup betting competition so they won. It not just free congratulations to all of them for winning