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Post by duncandive on Mar 3, 2015 10:56:42 GMT
Ed,now that the dust has settled on yesterday,a few thoughts. Firstly I am sure nobody blames you for what became a frantic hour as nobody could have expected such a surge compared to Friday nor legislate for the behaviour of a certain individual/s. Your quick and earnest response has been admirable and am sure has kept most of us "two week veterans" on board. Secondly, my advice would be not to action too many "knee-jerk" reactions too quickly as the preservation of your overall model is,I'm sure,your primary focus. Many of the suggestions you've had have been helpful,particularly around early bid limitation (excess of which was yesterday's major problem) and batching of bids (would they all need to have the same maturity date?).However,just be careful that you don't make changes that you may regret,or at least need to reconsider once things have settled down. I'm sure most if not all of us "early birds" will stick with you and give you the support you need to make a success of this venture. Thanks for your hard work.Regards JONNO P.S. Right then,When does today's lunatic melee start? Well said jonno
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 3, 2015 11:45:52 GMT
I think the option to put an initial bid limit is the key one. Several of us participated in the FS auction this morning for 3k diamond rings with bid limit of £25, which was nice & orderly & still not concluded after a leisurely 10mins.
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oldgrumpy
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Post by oldgrumpy on Mar 3, 2015 14:10:38 GMT
Have today's auctions been postponed due to alterations to the platform being more tricky than anticipated?
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Grezza
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Post by Grezza on Mar 3, 2015 14:17:41 GMT
I think the option to put an initial bid limit is the key one. Several of us participated in the FS auction this morning for 3k diamond rings with bid limit of £25, which was nice & orderly & still not concluded after a leisurely 10mins. And as I write still room for 3 more bids, so that'll be 120@£25 when filled, pleased to see Caratacus get in on it! So something similar will be great on MT. I'm looking forward to the week 3 MoneyThing update, will there be 100+ of us now?
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jonno
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nil satis nisi optimum
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Post by jonno on Mar 3, 2015 14:20:03 GMT
I think the option to put an initial bid limit is the key one. Several of us participated in the FS auction this morning for 3k diamond rings with bid limit of £25, which was nice & orderly & still not concluded after a leisurely 10mins. And as I write still room for 3 more bids, so that'll be 120@£25 when filled, pleased to see Caratacus get in on it! So something similar will be great on MT. I'm looking forward to the week 3 MoneyThing update, will there be 100+ of us now? Grezza: it felt more like 1000+ yesterday!! PS--Hey Ed, you still in the building?
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bugs4me
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Post by bugs4me on Mar 3, 2015 14:20:45 GMT
I think the option to put an initial bid limit is the key one. Several of us participated in the FS auction this morning for 3k diamond rings with bid limit of £25, which was nice & orderly & still not concluded after a leisurely 10mins. Still not concluded after 4 hours - a bit too leisurely perhaps. Maybe £25 was a bit too strict.
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bugs4me
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Post by bugs4me on Mar 3, 2015 14:23:15 GMT
Have today's auctions been postponed due to alterations to the platform being more tricky than anticipated? Looks like it grumps - you can put that banana away and give your F5 a rest
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jonno
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nil satis nisi optimum
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Post by jonno on Mar 3, 2015 14:25:27 GMT
Have today's auctions been postponed due to alterations to the platform being more tricky than anticipated? Looks like it grumps - you can put that banana away and give your F5 a rest Yeah. Anyway it must need a rest after whacking it all yesterday afternoon
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oldgrumpy
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Post by oldgrumpy on Mar 3, 2015 14:26:30 GMT
I think the option to put an initial bid limit is the key one. Several of us participated in the FS auction this morning for 3k diamond rings with bid limit of £25, which was nice & orderly & still not concluded after a leisurely 10mins. And as I write still room for 3 more bids, so that'll be 120@£25 when filled, pleased to see Caratacus get in on it! So something similar will be great on MT. I'm looking forward to the week 3 MoneyThing update, will there be 100+ of us now? The count is up to 94 at this moment ... Need quite a few more if building bridging loans are to be part of the platform. Also, not all lenders want anything to do with the pawnbroking industry. The "partner" here does loans on all sorts of junk which does not appear here. Gold and jewellery (or luxury yachts) is another matter, and I feel if people can afford to splash out thousands of pounds to be seen as "gold-rich", then want a loan, I'm in - no qualms at the interest rates they pay (or I get).
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ilmoro
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Post by ilmoro on Mar 3, 2015 14:33:45 GMT
Didnt Ed say he had meeting with the partner today? Probably discusing points arising from yesterday & how to get more gold!. Would like to be a fly on the wall when he explains that yesterdays auction involved a grumpy gorilla bidding with a banana!
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bugs4me
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Post by bugs4me on Mar 3, 2015 14:46:55 GMT
Didnt Ed say he had meeting with the partner today? Probably discusing points arising from yesterday & how to get more gold!. Would like to be a fly on the wall when he explains that yesterdays auction involved a grumpy gorilla bidding with a banana! I'm sure Ed's partner only has a limited number of loans that they are prepared to allow others to have a bite of the cherry. MT needs to expand somehow it's partners assuming of course that they are willing or indeed need MT as an outlet. Another platform mentioned some time ago they had recruited an individual whose responsibility it was to partner pawnbrokers but that's as far as it got. So I assume their efforts resulted in zilch.
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Post by MoneyThing on Mar 3, 2015 16:32:13 GMT
Afternoon everyone,
My apologies for not being on the forum today. I am now sat in a hotel room in Nottingham where I have to admit the internet is a little temperamental so might not be so responsive as normal.
We have a batch ready to go (all at once), when would you like them to be available? (Anytime from 6pm tonight or tomorrow morning?)
We also have a Pending feature nearing development completion so come the next batch you will be able to view the loans prior to a scheduled release to give users the chance to read the description & loan documents.
I appreciate that there are a number of other points raised whilst I was away which I will probably address when I get back to the Island tomorrow afternoon when I have a reliable internet connection.
Kind regards,
Ed
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Post by MoneyThing on Mar 3, 2015 16:33:33 GMT
oh...and if anyone is in the Nottingham area tonight, I would be more than happy to meet up for a coffee/pint...
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Post by wildlife2 on Mar 3, 2015 16:45:10 GMT
Could we have the loans for this evening please
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chrisf
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Post by chrisf on Mar 3, 2015 16:46:52 GMT
Could we have the loans for this evening please Seconded
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