Community post
BTCJam Experience
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:
Replies (16)
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So BTC jam itself failed? Sounds like people were getting free Bitcoin and not paying back.
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Most of these pages stop working.
Thank you for the information. I'll think what I'm doing. good luck
Yes, people were doing it on a massive scale.
They are just screen shots.
Good idea. These loans were made back when Bitcoin was trading in the $200's.
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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.
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.
thank you for this informaton
cool
thanks for gift you send me 5 month is gone :)
You are welcome!