Quote from: cazkooo on March 30, 2016, 06:19:28 AM

Quote from: 6strings on March 30, 2016, 12:50:59 AM

What the crap does all this mean? Is btcjam about to go tits up? Not good. I have some btc invested there, and I also have a loan out there. If they go poof what happens to those loans? What about those dated before Feb? Can any arbitration on those loans be enforced? Confused.....

One small advice, stay away from this site. Whatever arbitration methods that they will be using, the result will always the same and the site will still be a safehaven for all scammers.

According to the email, it seems everything before 1st of february will still be hold by net-arb which is quite confusing or they could always move everything with the new law firm

Agree with the previous post. As related to this specific email exchange, who knows. Jam's email begs the question of why, if they terminated their relationship with net-arb two months ago, it only took them until the last few hours (to my knowledge) to make any formal announcement of the change. It kind of falls in line with their keeping quite on shutting off US borrowers. I did see folks come on some loans in (or going into) default and make offers for purchases on notes. That was almost certainly cutting into BTCJam's debt collections ability to scoop off notes on borrowers at a better price. This might have been what they were referring to by users "spamming." I'd call it creating a more competitive market for notes.

Anyway, that was pretty serious accusation net-arb publicly launched at Jam which would certainly negatively affect Jam's business reputation. Follow some of the crypto news outlets. Whether the accusation is with or without merit, I have no idea, I imagine we'll be hearing more about this in the near future.