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Post by carbonr1 on Jan 30, 2017 9:34:08 GMT
Has there been a confirmed limit to the second round of bidding, i see a few suggestions but nothing firm, or is Ed waiting until the first round is done?
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SteveT
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Post by SteveT on Jan 30, 2017 9:38:31 GMT
Has there been a confirmed limit to the second round of bidding, i see a few suggestions but nothing firm, or is Ed waiting until the first round is done? See Ed's post of last night (" Please note that it is the same limit amount per 24hrs")
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seeingred
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Post by seeingred on Jan 30, 2017 10:01:45 GMT
"Appears to me its use it or lose it. Each 24hrs will have bidding limit of 1600."
If you can't bid on Monday for some reason just bid at 3.55pm on Tues and again at 4.01pm. That gives two lots of 1600?
Unless you can't get to a computer on Tuesday of course.......
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zoll
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Post by zoll on Jan 30, 2017 11:32:51 GMT
"Appears to me its use it or lose it. Each 24hrs will have bidding limit of 1600." If you can't bid on Monday for some reason just bid at 3.55pm on Tues and again at 4.01pm. That gives two lots of 1600? Unless you can't get to a computer on Tuesday of course....... Thats on the assumption that there will be still remaining loan parts by 3.55 pm Tuesday. I am not certain it wont fill by then.
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GeorgeT
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Post by GeorgeT on Jan 30, 2017 11:51:48 GMT
Your questions are academic because this one will be a sell-out Like a Rolling Stones tour. there won't be any left by 4 p.m. tomorrow.
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Post by polonius on Jan 30, 2017 12:32:39 GMT
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. Of course it can! That's how it works! If you attempt to buy more during the restricted time period you get a message reminding you that you have already participated.
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Post by GSV3MIaC on Jan 30, 2017 13:00:40 GMT
Well yes, but it depends whether the system is looking 24 hours at a time, or 'since the start of the auction'. I know the Q may be academic this time (although perhaps not .. quite a few lenders will not want the whole £1600 IMO), but maybe MoneyThing could answer it (definitively .. we can all guess at it) for the general case, since it sounds like we may have the same in future (which is fine by me .. although in cases where a large amount (>50%) is left over after 24 hours, maybe this approach would delay MT getting their cash for too long to be acceptable).
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SteveT
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Post by SteveT on Jan 30, 2017 13:09:09 GMT
Even if this one does all disappear in the first 24 hours (and I still have my doubts), many thanks to MoneyThing Ed and Shuang for building the capability for "second day" bid limits. I've always supported giving plenty of MT lenders a fair bite at the cherry by setting reasonable bid limits, but that goodwill was sorely tested when anything left over could be grabbed by a few greedy so-and-so's in seconds!
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Post by MoneyThing on Jan 30, 2017 13:10:12 GMT
Well yes, but it depends whether the system is looking 24 hours at a time, or 'since the start of the auction'. I know the Q may be academic this time (although perhaps not .. quite a few lenders will not want the whole £1600 IMO), but maybe MoneyThing could answer it (definitively .. we can all guess at it) for the general case, since it sounds like we may have the same in future (which is fine by me .. although in cases where a large amount (>50%) is left over after 24 hours, maybe this approach would delay MT getting their cash for too long to be acceptable). Afternoon, The system will now look at just 24hrs at a time. For example if the Wandsworth loan went into the 2nd 24hr period, a lender can bid single/multiple amount(s) up to £1,600 up to 15:59:59 tomorrow, then single/multiple amount(s) up to £1,600 from 16:00 tomorrow to 15:59:59 on Wednesday. However, lenders could not bid single/multiple amount(s) up to £3,200 after 16:00 tomorrow (assuming no bids were placed within the 1st 24hrs). Hope this clarifies the change. Regards, Ed
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zoll
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Post by zoll on Jan 30, 2017 16:15:07 GMT
Well - 80% funded in 10 minutes.
Looks like the crowd has voted for this one.
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paulg
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Post by paulg on Jan 30, 2017 16:53:08 GMT
This loan isn't going to last 'til 5.00pm by the look of it. There'll be some disappointed investors logging on when they get home from work in a few minutes.
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johni
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Post by johni on Jan 30, 2017 16:59:15 GMT
All gone 16:59
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markdirac
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Post by markdirac on Jan 30, 2017 17:20:56 GMT
Anyone have trouble logging on? Took me about a dozen attempts and 10 minutes.
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Post by sannytwist on Jan 30, 2017 17:48:57 GMT
That loan went extremely fast. If this keeps up we mite never test the new changes in place lol but thanks for implementing it really gives confidence to investors .
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james
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Post by james on Jan 30, 2017 17:53:39 GMT
More days gives Ed and co the chance to deliberately go low on the limit to be sure it lasts for at least one day. Then all of the smaller investors can get their fill and it's just the lowish to middish and up who need to wonder about second and later days and a possible 4PM rush... but with fewer people participating because all of the smaller ones already got what they were after.
Key there is going low enough with the bid limit that people are sure that there's no need to rush even on the first day. So deliberate lowballing.
Think of it as a bit like a stratovolcano dome. First few hundred feet it's very wide, lots of investors trying to get in for that low climb. Next five hundred and far fewer will be around, the narrower cone. MoneyThing can deliberately salami slice that cone over multiple days to fill the appetite of ever fewer but gradually higher target investment amounts, being filled in pieces over the days.
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