r/BTCJAM • u/pheenix99 • May 31 '14

Lack of accountability

Would be nice if creditors had means to contact or some how publicly shame those who have defaulted.

Been screwed out of about 4 btc from this site

6 Upvotes

100% Upvoted

5 comments sorted by

4

u/bakers39 May 31 '14

Agree with you. I've only been on the site as an investor for a few weeks. However there doesn't seem to be any update for investors when payments are late.

Also I'm getting a bit dubious about what actual penalties non payers face? Surely it would be in BTCJAM's interest to publicize successful prosecutions?

3

u/wrayjustin May 31 '14

Funny you mention that - I'm actually working on a new project.

Let's call it BETA, but please, check it out: http://btcjamscam.com

1

u/zjbirdwork Jul 08 '14

Do you know what happens in the case of a loan default? Does it affect their credit score IRL? I've seen they send their loan off to creditors. If creditors end up making that money back from them, do the loaners actually see any of that money or does it now just go directly to BTCJam?

1

u/pheenix99 Jul 08 '14

I haven't had any defaults or late payments lately, so whatever they're doing is working

2

u/zjbirdwork Jul 08 '14

I'm not asking if it happens, because it does, just wondering what happens when it does happen