dh1
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Post by dh1 on Oct 17, 2018 18:28:31 GMT
This dropped in the inbox a couple of hours ago. Makes interesting reading. So interesting I'm not sure I've grasped it. The mention of "blockchain" - whilst I get the principle - is a bit unexpected in peer to peer lending... ablrate I wonder if you would consider making the message somewhat simpler for me (and maybe others)?
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dh1
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Post by dh1 on Oct 17, 2018 18:33:37 GMT
I've just looked at the ASMX website too. I'm going to have a lie down....
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marka
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Post by marka on Oct 17, 2018 18:53:16 GMT
I have to agree that this is very poorly explained.
I've just spent the last couple of hours trying to get my head round this, and the first of many many questions I have is ....
Does this mean that once this goes live we will have to pay a charge (in ASMX's own crypto currency) to trade on the SM? (or will that only apply to trading on other SMs where we are not members of the particular platform on which a loan was originated?)
If its the former then that will be the end of my association with ABL. I have kept at a barge pole distance from crypto-bollocks so far and I have no intention of changing that stance.
If its the latter then no matter, as I have no intention in participating in a cross platform SM until it has been running for at least couple of years to prove itself. Even then I'm not going to be in a position to do any sort of DD, however minimal, on some Aussie or Singaporean borrower.
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Post by fatbritabroad on Oct 17, 2018 19:53:06 GMT
To be fair it does specifically say you don't need to buy crypto and block chain technology is being used in alot of financial platforms now
Not saying I've got my head round the rest of it though!
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macq
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Post by macq on Oct 17, 2018 20:28:27 GMT
Only had time to skim the email and not followed any links but while it maybe nice to be offered the free tokens not sure i want to do KYC with a platform that may not even be up and running by the sound of it to claim them.Also being a bit picky on my part but mentioning the first companies on board are Abl Australia & Huddle would go without saying i would think
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Post by Badly Drawn Stickman on Oct 17, 2018 21:07:15 GMT
Only had time to skim the email and not followed any links but while it maybe nice to be offered the free tokens not sure i want to do KYC with a platform that may not even be up and running by the sound of it to claim them.Also being a bit picky on my part but mentioning the first companies on board are Abl Australia & Huddle would go without saying i would think My email is having its weekly go slow strike, so I read the on platform version (and not with great attention). Seems to me this is a branch of Ablrate, I don't recall the Ablrate KYC being overly taxing but would suggest it could be applied to this? presumably Ablrate providing a registration link in an email would do this? In fairness it would probably help if I knew what the 'this' in question was. But really who wouldn't aspire to own free tokens.
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marka
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Post by marka on Oct 17, 2018 21:36:26 GMT
To be fair it does specifically say you don't need to buy crypto and block chain technology is being used in alot of financial platforms now Not saying I've got my head round the rest of it though! Yes you're right, having gone back to the email I see that it mentions no need to buy crypto there. That snippet got lost in my mind after ploughing through the website and white-paper. Block chain is a different thing - that's being used (quite sensibly it seems) for the ledger, quite separately from any use in the crypto used to charge platform fees. I think the problem is that the web-site (as it currently stands) and the white paper aren't really aimed at lender end-users, they're pitched at both selling the idea to other platforms, and selling the crypto to gamblers speculators marks investors in such stuff. Large parts of it seem to be deliberately written to overwhelm such speculators with information that is not needed but perhaps might sound impressive to people who don't understand it, For example the mention of agile sprints and the FIX protocol are perfectly normal language to me having worked as a software engineer on fixed income trading platforms in a previous life, but would probably be double-dutch to most people, and is detail that adds absolutely no value to the document for all but a handful of techie staff working at other platforms.
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macq
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Post by macq on Oct 17, 2018 21:49:21 GMT
I will be the first to admit i have not looked to close into it yet so this is a bit of a ramble.It does say you need to do KYC to get the tokens and "maybe" sign up again when it goes live.Could all be very exciting and the cross platform idea is interesting and i hope it goes well but still sounds like fund of fund or a form of merger of sorts with a posh new term in the marketing - but that does not mean its a bad idea. But at the mention of IPO's for coins,token and use of block chain my brain zones out so hopefully it all goes well and Abl grow from it but at the moment i would like to see some of the present loans settle down and some new lenders be offered(but on this platform not others) Sure the idea is to make P2P more easy but a quick scan of the web site and i was back off to Trustnet to read about funds but then i am an old duffer but it sure looked more complicated and to think some people struggle with the Abl SM But this would seem to put Abl at the front of this although Crowd2Fund were talking about coins & block chain a few months back but as mentioned by others not sure what this actually is(so maybe unfair for me to comment just yet)
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Post by Duane Dibley on Oct 17, 2018 21:59:46 GMT
Didn't understand a word of that.
But not only are they really excited they're also very excited and their friends equally excited.
That's a lot of excitement for a wet Wednesday night.
I'm in.
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Post by df on Oct 17, 2018 22:26:45 GMT
I didn't understand the purpose for portfolio loans and don't understand this innovation either... I prefer simplicity.
Can't really share the excitement, can't see how it can benefit me. If I want to buy something on HC's SM, I can do it on HC (not much to buy there anyway). I don't think I would be interested in buying Australian loan parts...
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macq
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Post by macq on Oct 17, 2018 22:56:10 GMT
Guess its easy to be negative about new ideas and i may have fallen into that trap but i did think the future of P2P would be more towards black box accounts(or portfolio loans in Abl's case) but this looks like it will appeal to people who like to self select
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Greenwood2
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Post by Greenwood2 on Oct 18, 2018 7:32:36 GMT
Didn't understand a word of that. ... Likewise, I'm looking forward to the english translation when it comes out.
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Post by ablrate on Oct 18, 2018 7:45:18 GMT
I have to agree that this is very poorly explained. I've just spent the last couple of hours trying to get my head round this, and the first of many many questions I have is .... Does this mean that once this goes live we will have to pay a charge (in ASMX's own crypto currency) to trade on the SM? (or will that only apply to trading on other SMs where we are not members of the particular platform on which a loan was originated?) If its the former then that will be the end of my association with ABL. I have kept at a barge pole distance from crypto-bollocks so far and I have no intention of changing that stance. If its the latter then no matter, as I have no intention in participating in a cross platform SM until it has been running for at least couple of years to prove itself. Even then I'm not going to be in a position to do any sort of DD, however minimal, on some Aussie or Singaporean borrower. As we said in the email... nothing, apart from the way the SM looks and the additional functionality, will change. Nope, you wont be charged ASM on Ablrate or any other As we have said, if you want to just use Ablrate as it is.. then no worries
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Post by ablrate on Oct 18, 2018 7:53:26 GMT
This dropped in the inbox a couple of hours ago. Makes interesting reading. So interesting I'm not sure I've grasped it. The mention of "blockchain" - whilst I get the principle - is a bit unexpected in peer to peer lending... ablrate I wonder if you would consider making the message somewhat simpler for me (and maybe others)? We realise blockchain its a new concept to some... but basically, its a bit like saying Ablrate runs on Microsoft .net and is coded in C# and M#..... You guys really don't care, as long as you can buy and sell loans simply... ASMX will make the SM faster, with more analysis, automated tool (like have been asked for) and will allow us those who want to, to trade elsewhere. It will also allow brokers and institutions easier access, which will assist in origination.... and it utilises blockchain
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hazellend
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Post by hazellend on Oct 18, 2018 7:53:47 GMT
I haven’t had a look yet but will probably sign up for the bonus.
Personally, I miss the early days and want P2P to be much simpler, which I’m not sure this will be
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