I am following these threads and I am confused I have lots of btc on this site, am I hearing that BTCjam is going to help us get our investments back?
No they don't give a shit, they got there Fee's already so why should they care?
The whole we got our fees thing is getting pretty old. As I mentioned a few times already, fees dont make this business sustainable alone. This whole idea is ridiculous.
actually you did not improve your System in the Past 6 Month. Examples wanted?
a) your Fee System is still ridic, you charge 5% for a Listing( it should be more 0.5%) and you are asking 5% for listing a Note (remember the Reason for Listing a Note is usaly that the Shit hits the Fan...)
b)Verify of Bank for non US Customer still not possible. (i mean how hard, can it to setup that?...)
c) the Reference System is a Joke, it should be much more influenced by the one who vouch for you, i mean 10 Facebook friend that give a reference for you, that mean nothing... someone who has a positive Rating in BTCjam or other lending site, that is a reference.
In general you are squezing the fruit, but there are very little improvements overall.
A) Most of the involvement in notes is actually those looking to liquidate their investment - meaning they are growing impatient (on an already current borrower aka is not late what so ever) and might want to get btc for other investments or need it elsewhere. Those notes move pretty quick in and out of the secondary marketplace so maybe you dont see them as much? 4% is the fee - but to answer your question we are thinking about changing that.
B) Have you ever looked into setting this up for a business worldwide? Im guessing the answer is no because their really arent many companies that service the world for this. There are about 2 and they arent that good... The answer is - yes it is very hard to set that up.
C) What you are referring to is ratings -- we have that for those who invested who want to rate a borrower/lender. So technically this is just another part separate from references.