Hey guys

We know that we've had a lot of scammers in the past and are spending a lot of time internally to make it harder for those people to get through. What we do today to verify the true identity of borrowers are, if available

• Facebook Account
• LinkedIn Account
• Paypal Account
• Ebay Account
• Coinbase Account
• Phone Verification
• Photo ID
• Utility Bill for Address Verification
• Paystub/Tax Return for Income Verification
• Personal References
• other undisclosed items

If the borrower doesn't connect some of those accounts, we show that on his profile and it likely also has a negative impact on his credit score.

We are also constantly looking at new data sources to add to BTCJam to make our credit scoring even better, and it shows in how much the credit scoring has improved. BTCJam now has an 87% repayment rate.

So it is unfair to say that we are not doing anything to protect our investors from scammers.

But even more important than looking at individual defaults, is to look at what happens for investors who diversify more.

As the stats page shows on https://btcjam.com/stats (measuring since Jan 2014), a perfectly diversified investors has positive returns, as a majority of investors on BTCJam actually have.

If you guys have feedback as to what we can do improve the credit score, we are very happy to listen and potentially have it influence our algorithms and you can email me at flavio@btcjam.com and I will read and answer any serious suggestions.