IntroductionBTCJam is a P2P Lending Plattform. Probably the biggest one who is Bitcoin related.
http://bit.do/btcjam (yes I know its a Ref link, but I like to support them and it also helps me to cover some cost for developing.
There are mainly 2 others that I know of
https://bitlendingclub.com/ and
https://www.bitbond.net.
The Problem is BTCJam doesnt provide security.
Here is what they say:
Is BTCJam responsible for the loan repayment?No. This is a peer-to-peer bitcoin lending platform, the borrower is responsible for all repayments. If the borrower defaults, the loan is sent to our arbitration partner net-ARB.com.
In order to improve security on BTCJam Swisswatcher decided to start a new Service to the BTCJam Community.
BTCJam BettingThe idea was developed when I stumbled over MAC's new loan on 24. Mai 2014. I usually thrilled about "Betting" on peoples loan if they get funded or not. I think I am actually have a good understanding about if a loan gets funded or not. I promote myself about being a Swiss Bitcoin Banker. Actually in the past I was a Insurance Broker and an active Trader, making good money. But that is another story. So what does a Bitcoin Banker do? He is offering financial Service. I brainstormed now about the idea and more or less completed it now. I am mixing now the thrill of Betting on Horses, with the Loan funding BTCJam.com and create a new financial Product.
The Product is as simple as this:
1 VS 1 BETAnyone can place a Bet if a loan gets funded or not. You tell the amount that you want to bet, and you send the money to the public Bitcoin Address. So if another person wants to bet against you. We got a standing bet. This are the simple 1 vs 1 Bets. You place a Bet by sending the money to our public Bitcoin Address. By pasting the Transaction ID you Bet is active.
If nobody bets against you our bank might bet against you. You can accept our Quote or not. If the bet doesnt happen we just transfer your money back to your Wallet after deducting transaction costs.
BET VS BANKYou can also bet against the Bank. You are able to bet as much as you want, We calculate the risk and we give you a quote. When you agree on the bet, you transfer your bet on our public Address. And we wait what is going to happen. If the loan is canceled the bet is canceled and we send you back your money after deducing transaction costs.
Swisswatcher is a trusted Brand in the BTCJam Community and stand for secure like Swiss Banks and reliable like Swiss Watches. Swisswatcher will work as your the financial Intermediate for all your bets.
Here you can find our Facebook Page. For updates and changes:
https://www.facebook.com/BTCJambetting?ref_type=bookmarkHere is the place where you can place your bets and where you can find other peoples bets:
https://www.facebook.com/groups/btcjambetting/FAQWhat is the benefit of BTCJam Betting?
Examples:- Lets say you have for example placed your investment in Griffs loan.
https://btcjam.com/users/10840Now you have realized that you dont trust him.
But you are not able to get your money out there. What can you do? You can offer a Bet to get your earn some money should he default.
- Lets say you are new to BTCJam and you want your loan to get funded. But nobody trust you. So you can place some easy bets. If your loan gets funded. You will loose your bet. If your loan wont get funded. You will win at least some Coins. And you learn some lessons for your next loan.
So what you can see its a WIN-WIN Situation for you and for your Investors.
If you win your get at least some coins for the time you used, and the investor doesnt risk money. If you loose, Investors gain some coins, but you get your loan funded.
Is BTCJam Betting run by BTCJam?No currently BTCJam Betting is run by Swisswatcher:
https://btcjam.com/users/5906Q: Why should I trust you?A: In principle, like scientific theories, trustworthiness can only be disproved. But I have a good Webreputation on BTCjam with over 380 BTC burrowed and paid back. I am really transparent with everything. And BTCjam got all my datas. So should I default there then you will have all my datas. So I hope you are trusting me. I just managed to get 1000 positive Ratings from my customers on Ricardo.ch
http://www.ricardo.ch/online-shop/hai-tech/?SellerNickName=hai-tech&SortingType=MostBidsIs my bet safe? We are storing your Bitcoins on a separate wallet with 2FA. In Case I should get hacked I will cover the cost with my other business.
I got enough cash flow from other business to cover the loss in case I should get hacked.
Q: Do you have partners?A: Currently I am looking for partners to help me develop a page, where all datas and transaction can be managed. Best to get connected is on facebook or at BTCjam.
Q: What does Betting cost?
A: Currently we are charging 1% + the Transaction Fee. All Transaction will be posted in the Facebook Group and can be tracked, by everyone.
