davex
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Post by davex on Mar 14, 2016 15:14:24 GMT
Have gathered some Pennies to invest in the Bolton Loan, but have a problem.
Am currently on holiday in Perth Western Australia, a beautiful place but 8 hrs ahead of U.K. time.
Will there be any left for me to invest in my morning, or should I stay awake for another 45 Minutes?
i know there is a cap in the first 24hrs, but I suspect this is going to be popular.
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Post by MoneyThing on Mar 14, 2016 15:20:38 GMT
Have gathered some Pennies to invest in the Bolton Loan, but have a problem. Am currently on holiday in Perth Western Australia, a beautiful place but 8 hrs ahead of U.K. time. Will there be any left for me to invest in my morning, or should I stay awake for another 45 Minutes? i know there is a cap in the first 24hrs, but I suspect this is going to be popular. I suspect that there will be plenty by the morning. However if you would like to email us at support@moneything.com with your bid requirements we will be happy to place this for you. Kind regards, Ed
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davex
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Post by davex on Mar 14, 2016 15:29:53 GMT
Thanks for the offer Ed.
Have done it that way several times, but don't want to abuse the system.
Shall stay up anyway, only 30 minutes to go.
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Post by MoneyThing on Mar 14, 2016 15:31:53 GMT
Thanks for the offer Ed. Have done it that way several times, but don't want to abuse the system. Shall stay up anyway, only 30 minutes to go. The 'system' today is LucyThing - I am sure she wont mind! 
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Post by bracknellboy on Mar 14, 2016 15:41:31 GMT
davex: if there is none left in your morning, I'll eat my hat. In fact, if there is none left for second bits after first 24 hours I'll eat my hat.
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davex
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Post by davex on Mar 14, 2016 16:00:33 GMT
davex : if there is none left in your morning, I'll eat my hat. In fact, if there is none left for second bits after first 24 hours I'll eat my hat. heading over to the site now, with this investment Moneything will become my largest Platform housing over double what I've been able to put into SS.
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sam i am
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Post by sam i am on Mar 14, 2016 18:13:38 GMT
davex : if there is none left in your morning, I'll eat my hat. In fact, if there is none left for second bits after first 24 hours I'll eat my hat. And third bits when the second tranche goes live...
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davex
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Post by davex on Mar 14, 2016 22:41:57 GMT
£491K left at 06:30 here, do hope this gets gobbled up after the 24hr period is over, otherwise. I may just have to get some more.
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SteveT
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Post by SteveT on Mar 15, 2016 8:02:55 GMT
Perhaps, now there are 0.5% bid limits for sub-£100k loans, there could also be larger (5%?) bid limits for loans of £500k+
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pom
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Post by pom on Mar 15, 2016 9:13:20 GMT
I guess a slightly larger limit may make sense....but we'll have more of an idea once the restriction is lifted later today
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locutus
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Post by locutus on Mar 15, 2016 9:32:27 GMT
Doesn't the limit problem go away if MT were to adopt a prefunding model ala SS instead?
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SteveT
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Post by SteveT on Mar 15, 2016 9:36:19 GMT
Doesn't the limit problem go away if MT were to adopt a prefunding model ala SS instead? Oh God, not this one again. MT's bid limits work well in ensuring that new loans stay available for approx. 24 hours. Why do we need anything more complex?
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mickj
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Post by mickj on Mar 15, 2016 9:56:07 GMT
A quick look at 'recent investments' and the few I can see are all well under the 7.5k limit, I like the system as it is.
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locutus
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Post by locutus on Mar 15, 2016 9:56:59 GMT
Doesn't the limit problem go away if MT were to adopt a prefunding model ala SS instead? Oh God, not this one again. MT's bid limits work well in ensuring that new loans stay available for approx. 24 hours. Why do we need anything more complex? I thought prefunding was the simpler option and more efficient for everyone. If some users want more than the limit, they have to keep coming back 24 hours later and have multiple loan parts. It also takes longer for the loan to fill. MT also have the issue of not knowing demand up front and having to tweak the limits arbitrarily. I may have missed previous discussion about this but prefunding is objectively less complex.
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SteveT
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Post by SteveT on Mar 15, 2016 10:10:32 GMT
Oh God, not this one again. MT's bid limits work well in ensuring that new loans stay available for approx. 24 hours. Why do we need anything more complex? I thought prefunding was the simpler option and more efficient for everyone. If some users want more than the limit, they have to keep coming back 24 hours later and have multiple loan parts. It also takes longer for the loan to fill. MT also have the issue of not knowing demand up front and having to tweak the limits arbitrarily. I may have missed previous discussion about this but prefunding is objectively less complex. I disagree. As things stand, when a new loan launches and we want to invest £1000 then we transfer £1000 into our account, lend it and immediately receive a £1000 loan part. No idle money, no uncertainty over what we will receive. Provided the bid limit is set at the right level (which Ed works hard to ensure) then there should be open availability for 24 hours or so, ample for any time zone or shift pattern. If everyone had to pre-bid for the amount they wanted to lend, we'd have no certainty what we'd be allocated at the point funds are transferred into our account. Meaning funds sitting idle and lots of partial withdrawals post-launch for MT to process (as per the recent attempts at "pledging" on Ablrate). Pre-funding only works well on SS because they are prepared to give lenders up to 48 hours grace to post-fund their accounts, something that is currently causing them obvious "housekeeping" problems when lenders fail to cover their purchases.
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