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Post by patright on Aug 14, 2018 6:21:41 GMT
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Post by p2ples on Aug 14, 2018 8:10:47 GMT
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fric
Member of DD Central
Posts: 199
Likes: 79
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Post by fric on Aug 14, 2018 9:30:46 GMT
Well, you should take zerohedge with a grain of salt, they are always doom & glooming tbh....
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Post by patright on Aug 14, 2018 13:01:47 GMT
everything should always be taken with a grain of salt of course but the fact is that China is responding AFTER 243 platform went bust, that money is gone Of course I am not saying it will happen in Europe but..I wouldn't bet on it not happening either
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Post by rahafoorum on Aug 14, 2018 14:05:59 GMT
everything should always be taken with a grain of salt of course but the fact is that China is responding AFTER 243 platform went bust, that money is gone Of course I am not saying it will happen in Europe but..I wouldn't bet on it not happening either I don't remember how many platforms there were in China, but I believe it was in thousands.
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Post by patright on Aug 14, 2018 14:47:00 GMT
yes that's true , no one know how many more will fall though did not find recent statistics but 5500 in 2016 www.statista.com/statistics/652720/china-online-p2p-lending-platform-count/the cumulative failure as of last month is above 4000 that have gone bust according to bloomberg\https://www.bloomberg.com/news/articles/2018-07-20/china-s-p2p-platform-failures-surge-as-panic-spreads-in-market
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Post by rahafoorum on Aug 16, 2018 6:02:14 GMT
the cumulative failure as of last month is above 4000 that have gone bust according to bloomberg\https://www.bloomberg.com/news/articles/2018-07-20/china-s-p2p-platform-failures-surge-as-panic-spreads-in-market Gone bust or closed down by the government? I believe they closed down a significant amount of those with HYIP style business models that were unsustainable.
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Post by patright on Aug 16, 2018 8:27:36 GMT
the cumulative failure as of last month is above 4000 that have gone bust according to bloomberg\https://www.bloomberg.com/news/articles/2018-07-20/china-s-p2p-platform-failures-surge-as-panic-spreads-in-market Gone bust or closed down by the government? I believe they closed down a significant amount of those with HYIP style business models that were unsustainable. HYIP and P2P are two different things (at least for me) I have actually been in HYIP program in the past, you can make a killing but that's casino play only you have a good point though, P2P chine style with zero asset backed securities is to some extent a HYIP except HYIP is dehumanised ponzi (again my opinion)
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Post by rahafoorum on Aug 16, 2018 20:47:25 GMT
HYIP is in 99.99% cases Ponzi scheme yes. And that's what they pretty much used in the early days in China. Collected a ton of money from investors, promised a guaranteed return and then (hopefully) went out to look for borrowers.
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