oldgrumpy
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Post by oldgrumpy on Sept 1, 2017 12:04:46 GMT
I thought the £100 limit was listed to be lifted after three hours, i.e 1pm, but now it shows that a six hour restriction was applied and three hours remain. I must be getting old!
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liso
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Post by liso on Sept 1, 2017 12:09:30 GMT
Funny, that's what I thought too, including the "old" bit!
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Post by yorkshireman on Sept 1, 2017 12:12:45 GMT
I thought the £100 limit was listed to be lifted after three hours, i.e 1pm, but now it shows that a six hour restriction was applied and three hours remain. I must be getting old! Funny, that's what I thought too, including the "old" bit! Probably the same developers that got the interest rate wrong on this loan.
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ben
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Post by ben on Sept 1, 2017 15:08:05 GMT
well that went quick once limits were lifted.
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dermot
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Post by dermot on Sept 1, 2017 15:09:51 GMT
Well, collateral , Collateral Rep - I guess that answers the question - bling is still popular at 10% With popular loans like this, the idea of increasing the limit after n hours would be popular, I think, rather than a no-limits free for all - £22,000 in less than a second - and I didn't even get a sniff!
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oldgrumpy
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Post by oldgrumpy on Sept 1, 2017 15:11:42 GMT
I think the loan was actually released at about 15:59:45, and was gone just before 16:00:00. Speedy GonGrumpez! PS, I wasn't greedy - just £1K
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dermot
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Post by dermot on Sept 1, 2017 15:16:18 GMT
I think the loan was actually released at about 15:59:45, and was gone just before 16:00:00. Speedy GonGrumpez! That might explain it then - I hit go at precisely 16:00, according to my Rubidium atomic clock. Hey, collateral - do you need us to club together and buy you a new wristwatch?
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Post by geraldine1210 on Sept 1, 2017 19:25:07 GMT
collateral can you confirm that you will consider a second higher bid limit on these types of loans? If it is £50 for the first three hours, maybe do a second three hours at 150/200.
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Post by elephantrosie on Sept 2, 2017 3:12:24 GMT
kind of fairer because it is now at a lesser rate
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theshape
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Post by theshape on Sept 2, 2017 11:05:19 GMT
collateral can you confirm that you will consider a second higher bid limit on these types of loans? If it is £50 for the first three hours, maybe do a second three hours at 150/200. I would have thought it sensible to set the initial bid limits (for any loan) at a level that gets the loan just about fully funded before releasing the remainder to FFF. Everyone gets a chance to get a fair share of the loan, everyone gets a chance to read any documentation before bidding and no one needs to be putting everything else on hold at a particular time of day. Once the pre-fund for PL00006 had been open for a time at £50 it was clear that would get the loan to about 30% funded. If the bid limit had then been amended to £150 allowing investors an extra £100 when bidding went live, the loan would have likely filled to a little over 90% and FFF could have fought over the remainder. Looking at the last two jewellery loans, dividing the total loan amount by 325 gets you to a bid limit that would just about fill the loan before bid limits are lifted.
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elsee
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Post by elsee on Sept 2, 2017 11:37:21 GMT
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theshape
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Post by theshape on Sept 2, 2017 13:24:50 GMT
I was looking at roughly how far the loans had filled with the limit that was in place. PL00006 was something like 31% full after pre-funding (£50) and around 62% after bidding (£100 limit) had been underway for a couple of hours. I didn't check right up until the bid limit was lifted. Based on how full it was with £100 bid limit, a £150 bid limit would likely have taken it to 90-95% full. £50k divided by £150 is 333. I picked 325 as an approximate number and you might use 350 for a 12% as it might attract more investors. I think the figures for PL00005 were similar.
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elsee
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Post by elsee on Sept 2, 2017 15:21:04 GMT
I was looking at roughly how far the loans had filled with the limit that was in place. PL00006 was something like 31% full after pre-funding (£50) and around 62% after bidding (£100 limit) had been underway for a couple of hours. I didn't check right up until the bid limit was lifted. Based on how full it was with £100 bid limit, a £150 bid limit would likely have taken it to 90-95% full. £50k divided by £150 is 333. I picked 325 as an approximate number and you might use 350 for a 12% as it might attract more investors. I think the figures for PL00005 were similar. Thank you, very clear explanation and I see how you got to that figure. I'm surprised it was that low, I'll try for the next one too now I know I'm in with a chance.
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