ablender
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Post by ablender on Mar 22, 2016 6:54:23 GMT
I am not fussed about the mechanism used to implement a "Cancel" button (or buy back). What I can say about partially sold loan parts is that this would be the easiest scenario. Having a partially sold loan part (you can check this from the "My Loans">"Selling LoanParts" tab) ensures that your loan part is already at the head of the queue. Just buy what is left. My concern is when there is something like £40k ahead of you and for any reason you need/want to cancel the sale. This is implemented on various other platforms without breaking them, so I am sure that it is possible. I am not a programmer and I am not going to get into discussions about the "how" it is done. There are professionals who can deal with that and savingstream has shown that they can handle this part well.
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ablender
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Lendy (L) in Administration
SM alteration
Mar 22, 2016 6:35:50 GMT
Post by ablender on Mar 22, 2016 6:35:50 GMT
I am totally against such proposal. If, let us say, I want £500 of loan 42 and this is not available on the market, and this is queued, I will need to have £500 waiting just in case loan 42 comes up for sale. Otherwise I will have no guarantee that I can pay for it when it comes along.
As things stand, If I see anything I want and I can pay for it I will buy it, otherwise I pass.
The system that is being proposed is similar to the one available on ABL and as soon as you make an bid, your money is deducted from your balance. Will this increase cash drag. I believe it does.
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ablender
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Post by ablender on Mar 21, 2016 19:11:25 GMT
Thanks bigfoot12 , did not know that. I'll look up for a similar function for Safari. It seems I need to update my Safari to version 9.
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ablender
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Post by ablender on Mar 21, 2016 18:28:41 GMT
A simple cancel button would mean that I will get back my loan part and am free to sell something else. sl75 , may I ask you if implementing a cancel button would take away anything from you? It adds to system complexity, causing things to work less quickly and adding to the risk of things going wrong, especially if implemented as an entirely separate function that must nevertheless ensure it co-ordinates its actions with the buying function in case you're trying to cancel at the exact same moment someone else is trying to buy. The biggest complexity would occur when cancelling a partially-sold loan part, especially at times when other system bugs are causing the proportion sold to be out of sync with reality, as we've seen a few times before (what if you cancel a loan part sale because a bug is showing it as unsold even though there's zero availability on the marketplace?) If you read what I'm saying again, I'm not arguing against cancellation functionity (although it does still seem like an unnecessary addition to me), I'm saying it would seem most efficiently implemented by using the existing "buying" function to do it. All that is needed [edit: ... if the market becomes sufficiently illiquid that this becomes an issue] is to ensure that a buyer's own loan parts (if any) are considered to be at the front of the queue for a buying function acting on behalf of that buyer. i.e. rather than something like ORDER BY [date listed for sale] it would have something like ORDER BY [seller == buyer] THEN BY [date listed for sale] With that mechanism, a separate "cancel button" becomes unnecessary in the user interface, because the functionality already exists. If a separate user interface for "cancel sale" were to be created with that back-end mechanism, it would simply translate to a buying instruction behind-the-scenes (perhaps with some of the text re-written on the confirmation page). Even without the necessary prioritisation to ensure that buying a loan that you have on sale acts directly to cause your own loan parts to be bought first, the market currently remains sufficiently liquid that you can do so and be reasonably sure that the original sale will occur within a couple more days. However, even with this less invasive mechanism for implementing a cancellation, it would still seem best to proceed with caution, in case there are loopholes that may be exploited (and which savingstream may already be aware of if the lack of a cancellation option was an explicit design decision rather than an omission). As your proposition will have the same effect, if it is easier to implement, then I am happy to support this.
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ablender
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Post by ablender on Mar 21, 2016 18:25:58 GMT
I have put for sale £50 from loan 84 to cover a -£50 balance. It is after some £60000. I want to pull this sale back and sell another £50 instead from another loan. This might sound a silly question, but was there a reason you didn't notice that there was already £60k of 84 waiting a new home? I knew that there were £60k, but one I have no idea how fast it is going and being replaced (even if one looks at the investor activity, you can only have a very general idea at best.) Also it seemed to me as my best option then. Now I think it differently, so why can't I change?
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ablender
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Post by ablender on Mar 21, 2016 17:15:07 GMT
And what about : I have changed my mind. Why can't I do that? No reason, but as mentioned in a reply to the same point made a few posts earlier, it's also adequately catered for by buying back the same amount on the secondary market. As previous post, one route to adding a "cancel sale" option if SS wish to do so would be to use buying back on the secondary market as the defined mechanism for doing this, by modifying this to prioritise "my own loan parts" above the loan parts that would otherwise be at the head of the queue. However, I'd still think it would need careful thought about additional "gaming" opportunities that could be opened up by such a feature. No, it is not catered for. I have put for sale £50 from loan 84 to cover a -£50 balance. It is after some £60000. I want to pull this sale back and sell another £50 instead from another loan. If I do as you say and buy another £50 from loan 84 I will get a balance of -£100. If this is followed by a sale from another loan of £50 I would still have a balance of -£50. A simple cancel button would mean that I will get back my loan part and am free to sell something else. sl75, may I ask you if implementing a cancel button would take away anything from you?
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ablender
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Funding Circle (FC)
17382
Mar 21, 2016 17:09:57 GMT
Post by ablender on Mar 21, 2016 17:09:57 GMT
Any news about this loan? It has been in processing since 17/3/2016.
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ablender
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Post by ablender on Mar 21, 2016 17:04:27 GMT
How come at the top of the forum pages you are displaying:
"Please consider supporting this website by disabling your ad-blocker. This website does not use audio ads, popups, or other annoyances. Thank you!"
Are you sure that you are not using audio ads?
Look at my previous entry with an image of a video ad. Do you think that these are silent videos or has there been a change?
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ablender
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Post by ablender on Mar 21, 2016 16:19:35 GMT
I think in light of the stagnant secondary market and the difficulty some experience trying to resolve their negative balance by selling loans that turn out to be not selling (or blocked due to technical difficulties) it would be a good idea for savingstream to implement a facility for sellers to withdraw their unsold parts from the SM so that they can sell something else. I'm not saying it's more important that loan origination, or due dil, etc, etc but I am saying it definitely needs doing soon. I can think of the following conditions where you might WANT to cancel a sale: 1. Technical issues are blocking sales - in this case the same technical issues would almost certainly block cancellations in a system that was properly designed. In order to creating duplicate loan parts in cases where a simultaneous cancelation and purchase occur, purchases and cancellations would almost certainly need to be processed in the same queue, so if it becomes stuck causing the purchase page to freeze, the cancellation page would almost certainly freeze in the same manner. 2. Market conditions are blocking sales - in this case the loan is easy to buy, and you can effect a "cancellation" by buying back the same amount of the loan on the secondary market. 3. You want to cheat the system by cancelling sales so you can get an extra day's interest. Which did you have in mind? What compelling reason is there for savingstream to implement it? And what about : I have changed my mind. Why can't I do that?
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ablender
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Post by ablender on Mar 21, 2016 6:26:36 GMT
Interesting, I've not seen (well I mean heard) an audio advert on this site, and I don't run any kind of blocker. As to "doing something about it", I suspect we are limited in what we can do - Proboards provides free forum hosting precisely because of the advertising revenue generated. Individually though people can install something like Adblock (for Chrome, there are bound to be equivalents for Firefox etc). Here is an example: Anyone can suggest an Adblocker for Safari on Mac - Found it. This works fantastically. It removes all ads, audio or not.
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ablender
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Post by ablender on Mar 21, 2016 0:58:04 GMT
Is it only me or is there anyone else who is annoyed by adverts that suddenly start blaring out of the speakers. To add insult to injury, I cannot find a way to stop the advert from playing except by clicking on it which will immediately open a new tap and take me to the advertised item, something that I did not intend to do.
Moderators / Administrators, can you do something about this please?
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ablender
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Post by ablender on Mar 20, 2016 23:16:44 GMT
Anyone wants some PBL084? Vanilla and Chocolate flavours available.
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ablender
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Post by ablender on Mar 20, 2016 22:00:43 GMT
Thanks ilmoro . 40 eh? I have missed the deadline by a few years then.
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ablender
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Post by ablender on Mar 20, 2016 11:40:05 GMT
I found the following in a news letter I receive:
"Lifetime ISA A new Lifetime ISA will be launched, to help you save for your first home or for retirement. The ISA limit will be increased to £20,000 a year for all savers, and lifetime ISAs will be introduced for young people. For every £4 you save, the Government will top it up by £1. So if savers put in £4,000, the Government will give them £1,000 every year until they reach the age of 50."
Is this something that we can combine with P2P lending? Is the increase in the ISA limit applicable to IFISA?
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ablender
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Post by ablender on Mar 19, 2016 14:02:10 GMT
Currently rebsrep have a number of loans who are going south. It would help us, lenders if ReBS were loosing out there own money as we do. In that way they would feel the pinch and start being more selective in the loans they propose on their platform. The other option that comes to mind is that they might not have enough capital themselves and therefore want to stop other platforms that do have a capital to invest.
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