P2P Lending / NFT Lending Forum

https://forum.lendacademy.com/index.php?topic=1374.msg10040#msg88888888Quote"> from: Dennis on July 31, 2013, 01:15:27 PM

Yes, rates are very low right now.  That doesn't mean money market accounts are a joke in general though.  When the stock market's on a multiyear losing streak you wouldn't say the whole thing is a joke?  It's just a bad time to be comparing your apples.

There is nothing remotely safe about P2P.  It doesn't matter what your NAR is or how many penny notes you have which generate safe income on paper.  Because of possible bankruptcy issues, your P2P investments are almost as risky as if you had put all your money in a single startup stock... in this case LendingClub or whatever company you use.

By the way you can get 3-4% using rewards/high-yield checking accounts if you want to put up with the fuss.  So yes right now it makes little sense to be putting cash in a money market account. 

I have seen them actually do a skip trace before the 30 days are up.  I would guess it depends on the situation.  If LC calls and the borrower says "just try to collect from me" I'm guessing it hastens the process.

Seems high to me as well, but if they're in the process of getting together an IPO I doubt he would be making blatantly false public statements.

What I'd like to know is:  If they're pulling this 3+6 mo data, why do we not have access to it?  It's not a privacy issue since they're already providing all of that data before the loans get funded.  If we're the ones 100% on the hook for the money, then why are they the ones keeping all the data close to their vest?

https://forum.lendacademy.com/index.php?topic=807.msg8045#msg8045">Quote"> from: yaoyao on June 05, 2013, 06:45:00 PM

https://forum.lendacademy.com/index.php?topic=1178.msg7966#msg88888888Quote"> from: New Jersey Guy on June 04, 2013, 10:52:30 AM

https://forum.lendacademy.com/index.php?topic=1189.msg8038#msg88888888Quote"> from: zpbsfg on June 05, 2013, 03:47:14 PM

Snippet from the article for those who don't have time to read it:

Quote

"In real, non LC life" meaning LC is not allowed as an answer?  This is my main source of income.  It pays the bills and nets a decent savings on top of that.  I find this p2p stuff is more relaxing and certainly more stable than other things I could be doing.

But if that's not allowed... I retired from software development 15 years ago in my 20s and now use those skills to come up with whatever schemes will make the most money in the shortest amount of time without human intervention.   For example card counting blackjack bots.  Backgammon for money.  Sports arbitrage.  Video game currency exploits.

Then by the same logic, if you ever find yourself in some debt, you should always move your debt to a different lender every 6 months which should minimize the chances of you getting behind regardless of your income situation.  Neat trick.

This seems similar to gambler's fallacy.

There is in fact such a feature.  It is on the profile page..  Profile Info | Show posts.

I guess they hid it to reduce abuse by primates.

There is some irony here; I am certain of it.

https://forum.lendacademy.com/index.php?topic=942.msg7819#msg88888888Quote"> from: Bilgefisher on May 31, 2013, 11:59:29 AM

Don't keep us in suspense, Sean; what did you learn?  I'm guessing since you haven't posted anything else that they haven't gotten back to you again, but what was this "interesting conversation" that you already had with them?

I wonder how much valuation vaporized overnight due to this error.  I know I took quite a hit, unrealized.  I'm irritated, but not quite irritated enough to call in and listen to non-answers.

One of the questions wouldn't accept "LendingClub" (without spaces) as the answer.  Hey, that's how their logo has it!   I was all bent out of shape until I figured out the problem.  Why would they have their logo say one thing, and legal name another? 

But I really came here to say...

Having been employed by big-name spammers for most of my adult life, I can say with some amount of certainty:  The verification questions do absolutely nothing to deter someone who wants to spam this particular forum.

Indeed, the only reason it worked is because something is now different from the other thousands of forums using this same software so the script kiddies can't just blast away at it along with all the rest.  In other words, it would be equally as effective if you always asked the same question every time, like "Hey dummy, type the word 'snow'".

I'm not divulging anything that they don't already know, so here's how you'd bypass the questions:

- First automatically gather all the possible questions, or at least until they start repeating by a fair amount.  If the population is small (say 100) then just make a config file with the answers,  manually.  Then spam away.  You don't even need all the answers because you can re-request until you get a question to which the answer is known.

Otherwise:
- Take the question text and put it in a ,jpg.  Send this off to your regular decaptcher/etc service and the foreign typers will answer the questions for you just like they type the captchas.  Store the questions and answers because eventually they'll repeat and you can stop paying the typer service $2/1k or whatever.

Would take all of maybe 30 minutes to handle, start to finish.  This forum's now different, and they don't really want to spam it.  That's why it's not getting spammed.


Edit-  I forgot my suggestion.  What about a mouseover which shows the first paragraph of a post when you hover on the subject?  Hard to tell what a subject like "I'm irritated" is going to be about.  Many forums have such a feature.