jonah
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Post by jonah on Oct 18, 2016 15:11:37 GMT
Well I'd expect a heart surgeon to have the competence to be able to plan his day. Ok, an a&e consultant then.... Ultimately, by having all the buying at 1 time of day you have to have different spec's of computer hardware to cope with the spike and are excluding those who can't make that timeslot. Given the ratio of lender cash to loans today, the second point isn't a growth constraint right now, but eventually it could be.
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Post by Deleted on Oct 19, 2016 8:22:35 GMT
I'm confused, are we saying that MT should be designed so that people who are doing safety critical work should be able to exactly hit a 4pm FFF action when actually most of MT's trades take place pretty slowly over a period from 15 minutes to 25 hours? Shakes head gives up, look, it's life, move on, not everyone in the whole world will get a fair run at everything, as you can see from the usual newbie questions some people want to get returns without doing any work, some want to do the work, some want transactions in the morning some in the afternoon etc etc
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SteveT
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Post by SteveT on Oct 19, 2016 8:37:18 GMT
I'm confused, are we saying that MT should be designed so that people who are doing safety critical work should be able to exactly hit a 4pm FFF action when actually most of MT's trades take place pretty slowly over a period from 15 minutes to 25 hours? Shakes head gives up, look, it's life, move on, not everyone in the whole world will get a fair run at everything, as you can see from the usual newbie questions some people want to get returns without doing any work, some want to do the work, some want transactions in the morning some in the afternoon etc etc Meanwhile, I'm exceptionally cross the ECB gave no thought whatsoever to accommodating people like me when allocating the next chance to open the batting for England. It's downright discriminatory!
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jonno
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nil satis nisi optimum
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Post by jonno on Oct 19, 2016 8:57:20 GMT
I'm confused, are we saying that MT should be designed so that people who are doing safety critical work should be able to exactly hit a 4pm FFF action when actually most of MT's trades take place pretty slowly over a period from 15 minutes to 25 hours? Shakes head gives up, look, it's life, move on, not everyone in the whole world will get a fair run at everything, as you can see from the usual newbie questions some people want to get returns without doing any work, some want to do the work, some want transactions in the morning some in the afternoon etc etc Meanwhile, I'm exceptionally cross the ECB gave no thought whatsoever to accommodating people like me when allocating the next chance to open the batting for England. It's downright discriminatory! You mean.................Mario Draghi is now running English cricket??
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 19, 2016 9:14:31 GMT
The solution seems obvious - get more business in by reducing rates charged to borrowers and offered to lenders. Strange that market forces don't do this automatically. p2p seems an example of market failure generally, possibly because it is new, but there are the first signs of basic economics starting to apply eg SS introducing variable rates. The market forces have been pushing p2p rates down for quite a few years in fact, so I think the market has been working fairly normally. It used to be easily possible to get rates around 15% and higher on Zopa, but market forces pushed the rates down a long time ago, even for the most risky borrowers. Similar story with AC. FS, which started out with only pawn loans, had a standard rate of 13% across the board, which over time started to come down to around 10% and 11%, only recently shifting up again on properties. Haven't kept track of WC for a while, but it started with considerably higher rates, got the masses involved via TV advertising and has been pushing them down ever since. MT have already been offering differentiated rates for a short while. It's now SS turn to start the balancing process, but all the platforms I've been lending with the past few years have all gone through it, so it's not actually a new thing that's happening. I don't read the boards for the platforms I don't use, but I believe it's been happening across the board for quite a long time. Newer entrants to the market have to differentiate themselves and offer something better (be that rates or something else) in order to capture market share. As they mature the edge they had may not be sustainable. In the case of p2p, more platforms are chasing the market, so rates are dropping. I see it as a kind of entropy in the financial world in which differentiated things all revert to a kind of mean in the end.
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Post by GSV3MIaC on Oct 19, 2016 16:54:36 GMT
/mod hat off
I concur .. eventually they all turn into 'Santander lite' (with no FSCS safety net) and fall off my radar. ZOPA, FC, RS ...
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Post by petebutt43 on Jan 31, 2017 23:17:24 GMT
I pipped for the "We need some form of pre-funding" option, but actually what I wanted to choose was " I would like some form of pre-funding...". It seems to me that what we have at the moment works well enough for most people most of the time. Not perfect, room for improvement, subject to resource / prioritisation etc..... It barely works for me at all. I haven't been able to expand my portfolio for some time now. Any interest of=r cash available has had to go on other platforms, when I would prefer some of it to stay on MT. The SS solution works pretty well though I have heard some whinge that they couldn't put 1000s down in one hit. If you don't want to put more cash up you can fund new loans by selling off older ones coming up for renewal, (which also reduces your risk).
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Post by bobthebuilder on Feb 2, 2017 5:14:57 GMT
Please keep things as they are. As someone with less than nimble fingers I was initially worried that I wouldn't get a look-in during a FFF free for all at 4.00 p.m., but on almost every loan it's been easy to pick up the amount I wanted. The secondary market I've found tricky around 4.00 p.m. (that's when fast fingers really do help), but I've managed to grab positions on the SM at various other times of the day or night, building up a £10K portfolio of loans in just three weeks in primary and secondary markets combined, so there's no reason why not being near a computer at 4.00 p.m. should be an insurmountable obstacle to acquiring loan parts.
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Post by bonfemme on Feb 2, 2017 6:49:01 GMT
Please keep things as they are. As someone with less than nimble fingers I was initially worried that I wouldn't get a look-in during a FFF free for all at 4.00 p.m., but on almost every loan it's been easy to pick up the amount I wanted. The secondary market I've found tricky around 4.00 p.m. (that's when fast fingers really do help), but I've managed to grab positions on the SM at various other times of the day or night, building up a £10K portfolio of loans in just three weeks in primary and secondary markets combined, so there's no reason why not being near a computer at 4.00 p.m. should be an insurmountable obstacle to acquiring loan parts. Lucky you. I'm lucky too at being able to log on at 4pm. But why should one group of people have an advantage over others when there is a very simple solution to ensure everyone is able to invest something, if not all, of what they would like. Building up a portfolio might not be "insurmountable", but there wouldn't be any obstacles to surmount if pre-funding was introduced. It seems obvious that those who are able to sit over their PCs at 4pm don't want their advantages taken away ....... but what about the factory workers, mums getting kids from school, pilots, doctors, nurses, lorry drivers, etc. etc, etc ......... Anyway, who wants to be constantly logging on and off at various times of the day or night in the hope of picking up the scraps here and there that the 4pm-ers regurgitate each time a new loan is launched.
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GeorgeT
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Post by GeorgeT on Feb 2, 2017 10:47:58 GMT
If it ain't broke don't fix it and what you have with money thing is certainty and knowledge in advance so you can plan accordingly and the fact that people can't set silly pre funds with funds that are non-existent , skew the amount everyone else gets and turn it into a farce
As I have pointed out Elsewhere and expressed in other places we have a system here which is compliant with most of the guidelines and is working well and we do not want to become a clone of saving stream which is what 40% forum users want. MoneyThing is different not least because the people behind it are experts in this business ,unlike the trainees running some other platforms and they are growing slowly but steadily and concentrating on quality and not quantity.
Do I want pre funding , no I don't. I will study the proposal over a one hour period and then decide how much if at all I would like to support it and I will then transfer the funds into my account at moneything in readiness. The entire process takes only a few minutes and moneything are so efficient funds are there awaiting investment in minutes. I can then invest with actual money so it all complies with the FCA guidelines.
I have stated this elsewhere but I will stay at it again there are two areas where moneything needs to make some slight tweaks -
1. Get some more server power so it runs faster between 4 p.m. and 4:10 p.m. on a loan launch day.
2. Now the platform is highly popular reduce a little bit the maximum bid limit on the first day at 4 so that some of the late loggers in in the evening can get a piece as well . that will satisfy the anti 4 o'clock brigade.
The important thing to remember with MT is that it has a high reputation and is growing slowly at a sustainable pace and it does things a bit differently in a bit more proper way and that is why we love it and we will resist change with every sinew in our bodies
My message to the people who want pre funding even though you are a minority, would be to direct you to use other platforms that allow this facility for example saving stream.
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Post by GSV3MIaC on Feb 2, 2017 11:06:19 GMT
If it ain't broke don't fix it and what you have with money thing is certainty and knowledge in advance so you can plan accordingly and the fact that people can't set silly pre funds with funds that are non-existent , skew the amount everyone else gets and turn it into a farce 1) But is IS broke (as even MoneyThing acknowledge that). As the business grows more and more people are going to be leaping in at 16:00 to try to get 'their share', and more and more of the lenders are not going to be around at 16:00 and miss out, so something needs to change (it already did .. max bid limit went from 2% (?) of the loan originally down to about 0.25% now). 2) There is no way anyone 'setting a silly prefund' can skew the result significantly. If there is £100k up for grabs and 100 people ask for £1k, they all get £1k. If one of them is a plonker and asks for £100k , but doesn't fund it, then 99 people get £1k, and there is the plonker's £1k left over (bottom up allocation remember, so he/she was never going to get more than anyone else).
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 2, 2017 11:16:38 GMT
I'm not too sure about what the fuss is here. Surely the answer to prevent plonkers et al is to implement funded pre-funding with Ed continuing to set initial limits like now to ensure everyone gets a fair share but without the 4p.m. frenzy; then release any leftovers as now. Or am I missing something?
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james
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Post by james on Feb 2, 2017 19:44:29 GMT
If it ain't broke don't fix it and what you have with money thing is certainty and knowledge in advance so you can plan accordingly and the fact that people can't set silly pre funds with funds that are non-existent , skew the amount everyone else gets and turn it into a farce None of the proposals in the MoneyThing discussion would do what you have suggested and MoneyThing have already said that they won't have an invest now, pay later system that allows that sort of exploitative gaming. The proposals require actual money in the account and just tell you what you can expect then give it to you, with various differences in the details. Unlike the current system it'll be predictable and convenient instead of guesswork, chance and for some of us no longer requiring action when we should be asleep.
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james
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Post by james on Feb 2, 2017 19:56:07 GMT
I'm not too sure about what the fuss is here. Surely the answer to prevent plonkers et al is to implement funded pre-funding with Ed continuing to set initial limits like now to ensure everyone gets a fair share but without the 4p.m. frenzy; then release any leftovers as now. Or am I missing something? The favoured options seem to involve people saying what they want then the system allocating money round robin/ bottom up so everyone gets roughly the same amount unless they wanted less. That means Ed doesn't have to guess any more. There are variations around that involving things like: 1. Running mock allocations to tell people their current expected allocation so they can fund, then a final one using only money in the account. 2. Similar but some time allowed after a semi-final allocation to fund. At this point more people can't say they want in, so the allocations largely stop changing. So it's more precise but slower than 1. Generally nicer if MoneyThing thinks the extra time is worth it. 2b. What to do with the bits that don't get funded if approach 2 is used, fast fingers or spread it around after the funding deadline expires. Irrelevant for 1 because it can't happen with that one, you only get what you had funds for at the first 4PM. 3. Letting people give a minimum amount, so they don't get shrapnel, for whatever their personal definition of that is. Good because it means that their allocations get spread around all instead of them selling on the secondary market.
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Post by bonfemme on Feb 3, 2017 10:24:32 GMT
I'm really surprised that this poll hasn't been closed and a new one started. It's unrealistic to presume that votes cast 4 months ago by people who are possibly no longer active on this forum and unaware of current developments, can still be considered valid. Things have moved on, the situation changed, so may have their opinions. And that counts for both sides of the debate. GSV3MIaC - any thoughts on closing the poll and perhaps launching a new one? If you could somehow insert it / merge it into the "THE TIME HAS COME THREAD....", that would be handy. I've been wondering exactly the same thing. The votes supporting pre-funding have caught up quite a bit, and I think a new poll would show more in favour of pre-funding at the present time. Having said that, I have a feeling the decision will already have been made.
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