dzo
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Lendy (L) in Administration
AML checks. (L)
Oct 10, 2019 14:23:55 GMT
via mobile
Post by dzo on Oct 10, 2019 14:23:55 GMT
What happens if we don't meet the deadline?
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dzo
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Post by dzo on Feb 13, 2019 19:37:46 GMT
The deals that are most out of line are for small amounts so buyers and sellers not bothered enough to spend time reading the updates etc. I wonder if some are taking advantage of this and splitting loans into small parts for sale? There definitely are. You see the same names cropping up on bids for large parts and offers of lots of small parts. I don't know how the effort involved can be worthwhile though. Maybe they use bots.
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dzo
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Post by dzo on Dec 20, 2018 19:13:01 GMT
It's actually been shooting up in the last week or so. It was stuck around 60% for ages.
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dzo
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Post by dzo on Apr 24, 2018 6:13:41 GMT
They are decentralised so they're impossible to regulate or shut down. ... really ? The first does not lead to the latter. Unless possibly utterly niche marginalised usage which authorities are not too worried about. Just see direction of travel in china for example. As long as people have communications technology allowing them to broadcast transactions to other users nobody can prevent those transactions from occurring. The only way to shut down a cyrptocurrency would be to shut down the internet. You could make it illegal, but there is no central database or transaction processor to take out. It's true that smart contracts are a feature of blockchain and that cryptocurrencies are another feature of blockchain. An example of a smart contract platform is Ethereum which also hosts the second most valueable cryptocurrency Ether. Ether has value because it is needed to pay the miner fees that incentivise people to process transactions on the Ethereum network. The same is true of most cryptocurrencies. Their value is that they can be used to pay transaction fees which make the network useful.
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dzo
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Post by dzo on Apr 23, 2018 20:40:09 GMT
Is far more volatile than the pound and euro, it can fall 10% one day then be up 15% the next day. I'm not brave enough to short it. I wasn't asking the question in the context of shorting, just in the general sense. I get that some people like crypto-currencies. They fluctuate like crazy, often upwards for long periods of time, gives lots of opportunity for financial gain (always welcome). Once that volatility stops, is there anything attractive about crypto-currencies that would make more them useful than (say) the pound ? Some people claim that one good property of Bitcoin is the maximum number that can be produced. Imo that would mean once they were all 'mined' we'd be in a world essentially the same as the gold standard (no fractional reserve banking). Unattractive property imo, gold standard was tried many times in the past, never worked through all economic cycles. So, what's to like about crypto (other than its volatility) ? They are decentralised so they're impossible to regulate or shut down. You don't need an intermediary to confirm that a transaction was signed by a particular address (account) because it is mathematically provable. Another potential use is to trustlessly exchange digital assets via smart contracts. Once both parties cryptographically sign the contract, their assets are transferred without the need for escrow or a trusted intermediary. The major hurdles are scaling - Bitcoin can't process many transactions per second - and usability - the general public don't understand how to use cryptographic keys or store them safely.
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dzo
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Post by dzo on Feb 6, 2018 22:40:50 GMT
how difficult is it to sell a loan on SM? Pretty difficult, as trades take place "off platform", which raises some pretty serious data protection/privacy concerns, as Abundance provide your email address directly to the seller! (be interesting to see if that complies with the upcoming GDPR requirements which come into force in May!) It's not difficult. If you accept a bid, both parties get an email from Abundance and you just reply all saying you're happy to proceed. You can always create an address just for use on Abundance if you're concerned about privacy.
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dzo
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Post by dzo on Sept 24, 2017 10:10:49 GMT
It's nothing we haven't all known for months.
Lendy's definition of a default is a bit arbitrary, but they at least make it clear. The failure to disclose relevant information about borrowers is more concerning because few lenders visit these forums.
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dzo
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Post by dzo on Sept 23, 2017 18:29:26 GMT
What data do you have to support this? My AC and FS accounts AC and FS don't make your investment decisions for you. The whole point of p2p is that you decide who to lend to.
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dzo
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Post by dzo on Aug 12, 2017 15:24:29 GMT
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dzo
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Post by dzo on Jul 31, 2017 19:23:24 GMT
I've been waiting for a certain Northern Irish farm loan to go live for 70 days now! By this point I'm hoping it just gets cancelled and I get my few months interest Same here. I did query with FS why it was taking so long. Their response - everything has be done on paper because it is a NI loan Not sure what to make of that but I'll be amazed if it doesn't end up cancelled. When I worked for a loan broker, a lot of companies on our panel (including some p2p firms) wouldn't lend to NI at all so it's plausible. However, FS have done several previous NI loans and I don't remember any of them taking so long to draw down.
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dzo
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Post by dzo on Jul 23, 2017 7:49:56 GMT
My question is more about how sales queues will be amalgamated, if for instance someone puts parts up for sale now from the cash back tranche and it does not sell, although it is highly unlikely unless something occurs which makes the loan a lot less attractive, where would it fall in the sales queue when the two separate loan listings are amalgamated at the end of the month. fp 's question is reasonable, and deserves a reply. OTOH, I was thinking that the likelihood of the situation actually happening may be slim. If Lendy developers had similar thoughts, they might not have given much consideration to providing a solution. It might have been totally ignored as a possibility when the programming was done, so could cause a system problem if it actually does occur. ISTM that there are a t least a couple of simple ways of dealing with the situation... - Order the parts based on the date they were offered for sale; or
- Dump the cashback parts at the end of the main queue.
Meanwhile, it will be interesting to see whether there are are any cashback parts for sale at the end of the day on 31/Jul. At the rate the DFL024 cashback parts aren't being snapped up, there well may be!
If they have any sense they'll have just attached the cashback to an investor rather than a loan part. That's how cashback normally works.
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dzo
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Post by dzo on Jul 12, 2017 7:06:08 GMT
The real reason for the cashback is to make sure the later tranches fill if they happen to launch at a time when the SM is clogged. That's why it'll only be on 'select' DFLs.
The talk of perceived risk is just a cover story to make it sound less desperate.
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dzo
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Post by dzo on Jul 10, 2017 19:56:38 GMT
I'm glad Lendy have a testing environment. Now they just need a separate production environment.
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dzo
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Post by dzo on Jul 10, 2017 18:32:51 GMT
These updates are all for Lendy's benefit They are starting to struggle to fund new tranches of DFLs, so add some CB People are exiting, chuck a bonus in to try to get them to stay Lendy aren't now sure they will recover the interest they have been paying on delayed loans, quitely take that away Loans quality is falling, change the pre funding to focus people on the rate rather than the detail I think the end of SBL has more to do with the FCA than a Lendy money grab.
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dzo
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Post by dzo on Jul 10, 2017 17:48:17 GMT
new bonus column has disappeared! I was getting paranoid that I was the only person who couldn't find it!
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