If you want to track them down give me first name last name and a state they have lived in.
I will give you the dox,
Call them and confirm the number,
Send someone to knock on the door and confirm it is them,
Network you with a lawyer and process server, that can help.
I am adding the ability to edit existing postings with any of the missing fields. Feel free to go through and update them with further identifying information if you can. I'll report back here once that feature is fully added.
Well , I've quit BTCJam since I got scammed out of all that I invested there.
What exactly classifies a scammer ? Anyone who has stopped communication for how long ?
https://btcjam.com/listings/7924 ( Link here )
He has been identity verified , so that may help.
For the purposes of
BTCJam Scam a Scammer is someone who is behind on their payment by 30 days (or more) and is not communicating with their creditors OR someone who has defaulted.
Feel free to post the information you have on that note, and I can try and add more identifying information after your initial posting.
Thanks for the info quite interesting i must say
!
So what actually happens if you default? I didn't think there are people who would default haha, well i suppose people who are not verified would find it hard to obtain any size of loan, i myself am fully verified and had borrowed many times and have never defaulted and have no intention to, i currently hold A- rating, i will be at A+ soon. However, i would never trust investing into someone below C+ rating.
I use BTCjam
alot, so far i have had big success with it!
Ideally i'm looking to get 25 BTC loan to put a deposit on a house
You sound like one of the good borrowers, for that, I thank you. When honest people borrow money, the site is a great benefit to the Bitcoin community.
That said, let me start off with saying this: Don't default. If you get in to trouble financially, communicate, and work it out with the creditors.
To answer your question, the loans are legally binding, once you default they are sent to Arbitration. Once arbitration is awarded in favor of the lenders, they can file judgements within a local court in your area and begin collections. Obviously, laws, circumstances, and outcomes all dictate how much, if any, would be recovered - but it's still a tarnishing event regardless.
OP
I was wondering if you ould answer this;
If i borrow 1BTC for $650 and my weekly payments are 0.3
What if in a week btc goes to $1400 does that mean i will need to buy 0.3btc at $1400=1btc and pay back more money ?
Or will i need to pay 0.3btc at $650 rate, but how is bitcoin calculated when i pay the loan off? I don't understand
This depends, BTCJam has loans that are fully in Bitcoin. Meaning if you borrow 1 BTC, you'll owe 1 BTC (plus interest) regardless of it's future value. BTCJam also has loans that are tied to the current Bitcoin price. So if you borrow 1 BTC, which at the time is worth $650, you'll owe $650 USD (plus interest) in whatever value of Bitcoin that is at the time of payment.
Hope this helps clear that up.
