I did lending and borrowing on BTCJam and here is my experience:
I have paid up to date on my borowing:
I paid back all my loans, bu I am indebted from other patrons:
Lessons learned:
Be careful lending to users, but take advantage of lending opportunities or vice-versa!
I paid back all of my loans and BTCJam will be shutting down on July, 1st:
So BTC jam itself failed? Sounds like people were getting free Bitcoin and not paying back.
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Yes, people were doing it on a massive scale.
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You have recieved a free upvote from minnowpond, Send 0.1 -> 2 SBD with your post url as the memo to recieve an upvote from up to 100 accounts!
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Thank you for the information. I'll think what I'm doing. good luck
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Good idea. These loans were made back when Bitcoin was trading in the $200's.
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Most of these pages stop working.
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They are just screen shots.
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Not sure how these platform actually works. Since bitcoin is decentralized, isn't it easy for people to scam others using this platform? Take loan and never comeback.
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Yes. That is why it shut down. A majority of the loans were fraud. They did require for people to provide identification, but those are available in scale on the dark web.
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cool
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thanks for gift you send me 5 month is gone :)
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You are welcome!
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thank you for this informaton
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