Quote from: oblomov on January 17, 2016, 10:40:56 PM

Quote from: strayanbit on January 17, 2016, 12:46:28 AM

Honestly, all my the loans that I have helped fund on Bjam are going well, I haven't even gotten 1 late payment or default yet.
I have fairly strict criteria to fund a loan and I dig around, but if i'm at all doubtful, I don't fund something even if its A graded
Remember that some people are shameless and just want to steal money... Some people are honest but rubbish at investing the money they have borrowed, so they're not scammers, but they wouldn't get a loan from a bank either.

To provide an update on my experience with BTCJam:

- Of two loans made, one has been fully repaid (60 day term). Final payment was made early, 45 days after initiation of the loan.
- Due to BTC appreciation against BRL, my ROI on the repaid loan in BTC terms was 0.87:1 over 45 days, for an annualized return of -67%
- Second loan (90 day term) is paying on time. If I receive full timely repayment, the ROI will likely be similar to the first loan.

I would have been better off simply keeping the coins in a paper wallet.

Now, to get my remaining money out as cheaply as possible. Last time, BTCJam reserved 50K satoshi for transaction fees per withdrawal. This despite the fact that the destination wallet covers transaction fees.

So if you are not investing anymore for the rule 19 of TOS, you will be charged 5 $ monthly.
The 50k satoshis remains in your account balance making it positive.
Do they get the 5$ from there? If not where do they take the fee?