macq
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Post by macq on Jul 19, 2018 14:05:31 GMT
i was being a bit sarcastic with the idea (not like me really) but seeing the post from ABl that there were only 464 lenders over 11 hours you would think in someways with moving back to a day time launch in future that until the problem is fixed that a staggered idea of some sort could help.But it must be possible to sort the bug as you used to get loans fill in 10 minutes @ 2pm before now so hopefully will be sorted
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blender
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Post by blender on Jul 19, 2018 14:06:20 GMT
Ever more silly and complicated systems, each with expensive opportunities for the devs to engage in complex and unproductive systems, which are bound to work first time. All on some strange and personal idea of fairness. Perhaps Ablrate could appoint a Board of Guardians to hear personal applications to be allotted a place (number) in the queue for a certain amount of cash to be invested, and then have a procedure to serve them sequentially, but at a time of their choosing. (Not a fan of bid limits)
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empirica
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Post by empirica on Jul 19, 2018 14:09:20 GMT
or maybe £1 - 100 @ 8 - 9 pm £101 - 1000 @ 9 - 10 pm £1001 - 5000 @ 10 - 11 pm etc I, too, was thinking on the same lines as I sat there trying to get the system to accept an investment of a few hundred (ultimately successful after about 17 minutes). But would this help the current situation? All we'd get is: *everyone* tries to invest £100 (or less) in the first hour; then everyone (except those whose limit was £100) for the next hour, then everyone (except those whose limit was £1000 or less) for the next hour, then everyone (except those whose limit was £5000 or less) for the next hour, etc, etc. The total number of investment transactions processed by the system would be much greater. The solution would be to "reserve" bidding in the first hour to those with a £100 limit and then limiting those who invested in that first hour to a total investment of £100 (until all bid limits are removed); anyone who wants to bid more that £100 but less than £1,000 could bid in the second hour and be limited to a total of £1,000, and so on. In effect, we'd have to decide what our bid limit was and not bid until the bid-band becomes available. Would that be practical? I can envisage the issue of a loan being filled before bids in a higher band became available - intense frustration! (and leading inevitably to individuals opening multiple accounts to bid in each band). And wouldn't Ablrate prefer to fill loans with a smaller number of larger bids than large numbers of small accounts? ablrate - From what I've read, the 'bottom-up' method adopted by Lendy seems to work well. Would that work here? (Presumably without the 'pre-funding' / no-funds-on-account-needed aspect, though.) Request what you would like in the lead up to launch, up to the maximum balance on your account and then let the system lock the loan whilst it processes on a bottom-up basis and anything left over gets released for general consumption. (As it would be now had there been a residual amount to be lent after the 10am restriction lifted.) Would that provide sufficient separacy between the SM process and the new loan launch process to allow them to both continue without affecting each other?
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Post by ablrate on Jul 19, 2018 15:01:36 GMT
I belive the auto-trade function will help. It is initially being launched for primary loans...
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Post by muttley916 on Jul 19, 2018 15:20:53 GMT
Please do not start a £100 bid limit and incremental bidding.
I will have to go elsewhere as I do not have the time or inclination to log in multiple times to pledge small sums money into a loan.
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Post by Deleted on Jul 19, 2018 15:24:23 GMT
The question should be asked.
If 464 deals went through in the time period, how many failed? I failed over 60 times to make a bid. If there are only 6 other people with my failure rate then only half bids worked. Much as I support ABLrate during this deal I would never go to a pub where half the orders were declined because they had run out of beer......
So how many deals failed? If you don't know, why not?
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empirica
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Post by empirica on Jul 19, 2018 15:28:31 GMT
I belive the auto-trade function will help. It is initially being launched for primary loans... Ah, OK. I was anticipating a different purpose but will await further details. Thank you.
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blender
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Post by blender on Jul 19, 2018 15:37:11 GMT
The question should be asked.
If 464 deals went through in the time period, how many failed? I failed over 60 times to make a bid. If there are only 6 other people with my failure rate then only half bids worked. Much as I support ABLrate during this deal I would never go to a pub where half the orders were declined because they had run out of beer......
So how many deals failed? If you don't know, why not?
464 lenders, not deals, and lenders probably means accounts. Could easily be more deals than accounts. I tried smaller amounts. Say 1000 deals, and at least 10,000 attempts, I would estimate. It's more like everyone was shouting their beer order continually, but they could only serve one at a time.
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des
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Post by des on Jul 19, 2018 15:47:42 GMT
The question should be asked.
If 464 deals went through in the time period, how many failed? I failed over 60 times to make a bid. If there are only 6 other people with my failure rate then only half bids worked. Much as I support ABLrate during this deal I would never go to a pub where half the orders were declined because they had run out of beer......
So how many deals failed? If you don't know, why not?
I had one success and probably 100 fails, what information are you expecting from the failed data? All it shows is that their devs are not competent, nothing else useful. If you could work out how many placed a failed bid without an eventual successful bid, you could work out how many lenders missed out. (Also add in the lenders that couldn't bid as their card deposit didn't get added to their account until after the loan was filled.)
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brianlom1
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He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Jul 19, 2018 20:35:17 GMT
ablrate - Please continue as planned, so long as you sort out the IT issues no other major changes are required
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Post by Badly Drawn Stickman on Jul 19, 2018 20:58:33 GMT
ablrate - Please continue as planned, so long as you sort out the IT issues no other major changes are required Their job is fairly simple, just keep all the people happy all the time. How hard could that possibly be.
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Post by df on Jul 19, 2018 21:14:20 GMT
I don't get the enthusiasm, with all the current complaints about quality of security across platforms a loan mainly secured by a pending (ie, not yet and may never be in place) patent seems exceedingly weak. As a small punt the company doesn't seem too bad, although a lot of hype, and little substance. Yeah, I'd love to understand the perceptions of people who are investing in this. Note, it's not that I think any of you are necessarily wrong, it's just that we are looking at things differently (perhaps for different reasons). Even if I don't change my mind about this loan I might learn something in the process..... For me it's a combination of amortised, trust in ABL DD and the rate. I invest in most loans across self-select platforms I'm in, I prefer to diversify rather than invest large chunks in a handful of loans even if they sound good. The amounts vary depending on loan type, platform and the rate but they are within limits I set for myself. Other comforting factor is that ABL SM works very well - I like when quick exit is an option even if I don't plan to use it. Also I had a bit of cash (unused regular returns+DER repayment) on ABL - I can't see any better place for this money to be invested at 13% on other platforms atm.
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Post by dan1 on Jul 19, 2018 21:19:32 GMT
ablrate - you must be doing something right because most of the complaints on the forum arise from lenders unable to disinvest from platforms (AC, COL, FS, Lendy, MT spring to mind),.... notwithstanding the containers of course.
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Post by Duane Dibley on Jul 21, 2018 10:47:58 GMT
Is it me? It usually is.
But I just can't get my head round these types of loans.
When the loan first appeared this forum was full of posters saying how they wouldn't touch it with someone else's bargepole, how they wouldn't be surprised if investors lost every penny, that they were out, yes definitely out.
Then once it goes live everyone's complaining how they couldn't get enough of it, how it was the best thing since Mr Warburton accidentally dropped his loaf in the bacon slicer, how very fortunate they were just to get the miserley crumbs they ended up with, how it was a keeper, yes definitely a keeper.
So is it double-bluff or is it triple-bluff?
Are people slagging off good quality loans so they can grab a little more for themselves, or are they bigging-up poor quality loans so they can sell off at a profit on the secondary market?
Now personally I wasn't that impressed by the security so didn't partake at all.
Or did I?
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Post by Badly Drawn Stickman on Jul 21, 2018 11:09:35 GMT
Is it me? It usually is. But I just can't get my head round these types of loans. When the loan first appeared this forum was full of posters saying how they wouldn't touch it with someone else's bargepole, how they wouldn't be surprised if investors lost every penny, that they were out, yes definitely out. Then once it goes live everyone's complaining how they couldn't get enough of it, how it was the best thing since Mr Warburton accidentally dropped his loaf in the bacon slicer, how very fortunate they were just to get the miserley crumbs they ended up with, how it was a keeper, yes definitely a keeper. So is it double-bluff or is it triple-bluff? Are people slagging off good quality loans so they can grab a little more for themselves, or are they bigging-up poor quality loans so they can sell off at a profit on the secondary market? Now personally I wasn't that impressed by the security so didn't partake at all. Or did I? I think currently on any other platform this loan would be languishing part filled for weeks, Ablrate for various reasons is the platform of choice for money that people are wanting to invest. This seems to create a strange alchemy that to some minds turns poor loans into gold.
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