Post
Topic
Board Service Discussion
Re: BTCjam - Any Thoughts or Experiances
by
favdesu
on 11/05/2015, 06:51:10 UTC
Lent 0.1 btc, the guy did not repay a penny ...
Its always bad when that type of thigs happens but the sites statistics is improving over time, back in 2013 it was really bad, during 2014 the avg repayment rate improved a lot and hopefully it will become even better in 2015.
Last time i checked the repayment rate throu all time is up to 75.98% of all loans and is climbing. For loans taken out recent months it has been in the regions of something like 85-90%.

I wouldn't call that improving. %75.98 means every 1 debt in 4 loans isn't paid. That's serious stats for lenders. Too much verification process but still %25 fail rate. They need to decrease it to %1-2 if they want to provide sustainable service. I don't recommend this site at all.

why should they care as long as they make money?

I used btcjam once 2013 - I was not paid back and btcjam did literally nothing to cover. So no, I recommend to not touch this site with a ten foot pole.