jimc99
Member of DD Central
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Post by jimc99 on Jan 29, 2017 5:58:10 GMT
It's been suggested several times before, but probably needs a site/database structure change, adding a second limit and limit time. Getting the limit right in the first place (pre funding!) has got to be easier. If we all told Ed how much (up to) we wanted, he could work it out such that very little was left at D+24hrs. Totally agree....A prefunding method such as in operation over on SS should surely be a better way to go for MT and Investors!!!!
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SteveT
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Post by SteveT on Jan 29, 2017 7:30:15 GMT
Oh ok then.... The Shuang is on the case and he thinks he will be able to get this done by the morning! Good suggestion SteveT , I was thinking the same thing too. Presumably the maximum bid limit would be the same for the second 24 hour period as the first? And I don't see any reason why that wouldn't work for all new loans. Assuming the majority will be gone by then, I'd suggest setting the second 24 hour bid limit at maybe half that of the first (£800), but any limit will be an improvement over the current situation.
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james
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Post by james on Jan 29, 2017 8:04:54 GMT
Why is the bank facility being replaced?
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james
Posts: 2,205
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Post by james on Jan 29, 2017 8:15:40 GMT
A second day is good but it does seem that asking people to give minimum and maximum desired amounts then fill bottom up would better address this. A Pound each round robin until the money runs out then add back to the pot any money from those whose minimums weren't reached. Continue this until the loan is full or no more demand left. Should allocate as evenly as possible without any time crunch at all.
Some programming edge cases to deal with but nothing troublesome. One would be random selection of which person whose minimum wasn't reached gets cancelled first. That could free enough for the next person with the same minimum to reach it. Another is random ordering of people so some don't consistently get a little more just by being first.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 29, 2017 13:34:35 GMT
As stated in the particulars it seems a fair, long term? Investment at a reasonable rate with stated exits explained.
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Post by MoneyThing on Jan 29, 2017 18:56:26 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? Oh ok then.... The Shuang is on the case and he thinks he will be able to get this done by the morning! Evening. The Shuang has done the work and therefore will implement this on the Wandsworth loan. Please note that it is the same limit amount per 24hrs. Going forwards, we will make a note on the email announcement whether the bid restriction is for the first 24hrs only OR per 24hrs. Regards, Ed.
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Post by carbonr1 on Jan 29, 2017 19:30:28 GMT
Why can't I see this loan in pending
insert code here
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jan 29, 2017 19:34:53 GMT
Why can't I see this loan in pending insert code here Probably because Le Shuang is rejigging its bidding code. It'll be back.
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Post by MoneyThing on Jan 29, 2017 19:44:47 GMT
Why can't I see this loan in pending insert code here Oops - sorry. Now back.
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Post by sannytwist on Jan 29, 2017 21:28:10 GMT
Oh ok then.... The Shuang is on the case and he thinks he will be able to get this done by the morning! Evening. The Shuang has done the work and therefore will implement this on the Wandsworth loan. Please note that it is the same limit amount per 24hrs. Going forwards, we will make a note on the email announcement whether the bid restriction is for the first 24hrs only OR per 24hrs. Regards, Ed. Thats great idea, last week after the loan limit was lifted. I had like £200 in my account ready at 4pm to bid, then literally my webpage froze for like 10 secs then the loan was 100% filled lmao. I was sure there was at least £25,000 left on the loan to be filled, then found out that someone put £15k with a few other fast bidders taking the rest in a matter of a few seconds. This change would make the system more fair for more of the investors rather than a selected few. Well done everyone !
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Post by sannytwist on Jan 29, 2017 21:39:16 GMT
Hi, if u don't mind l would just like to ask exactly what would happen then with the new 24 hr bid limit in effect now.
For example for this Wandsworth Bridging Loan, on guess on monday we can bid £1600 at 16.00pm ...... then 24hr later we can bid another £1600 ? then so on
Is that how its gonna work?
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Post by eascogo on Jan 29, 2017 22:50:30 GMT
With £645k at 12% and a £1600 limit I wouldn't be surprised if it was all taken up in less than 24h.
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freddy
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Post by freddy on Jan 30, 2017 0:59:34 GMT
Hi, if u don't mind l would just like to ask exactly what would happen then with the new 24 hr bid limit in effect now. For example for this Wandsworth Bridging Loan, on guess on monday we can bid £1600 at 16.00pm ...... then 24hr later we can bid another £1600 ? then so on Is that how its gonna work? That's my understanding.
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Post by GSV3MIaC on Jan 30, 2017 8:16:27 GMT
If I don't bid my £1600 on Monday, does the unused portion carry forward so I can bid more than £1600 Tuesday, or is it ' use it or lose it' ??
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zoll
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Post by zoll on Jan 30, 2017 9:25:57 GMT
If I don't bid my £1600 on Monday, does the unused portion carry forward so I can bid more than £1600 Tuesday, or is it ' use it or lose it' ?? Appears to me its use it or lose it. Each 24hrs will have bidding limit of 1600. I doubt very much the system will be able to single you out as not having participated in the first round, and allow a higher bid.
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