zlb
Member of DD Central
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Post by zlb on Mar 5, 2020 20:02:48 GMT
Is this the most weird platform? I.e. the greatest disparity between investor experience and the platform's presentation of themselves? They appear to be wanting more investors to make their settings up to 15% return (presumably the most risky borrowers) in return for a promised 10% return, as a flat return.
Who on earth are they lending to in order to be sure that they won't have a massive default rate compared to Z and LW, and on the business side such as GS experienced?
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Greenwood2
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Post by Greenwood2 on Mar 5, 2020 20:49:28 GMT
Is this the most weird platform? I.e. the greatest disparity between investor experience and the platform's presentation of themselves? They appear to be wanting more investors to make their settings up to 15% return (presumably the most risky borrowers) in return for a promised 10% return, as a flat return. Who on earth are they lending to in order to be sure that they won't have a massive default rate compared to Z and LW, and on the business side such as GS experienced? Sounds like a money tree in the back garden. Maybe they have backers with pots of money who will cover losses, but I'm not convinced, although intrigued.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Mar 5, 2020 22:26:34 GMT
I’ll give you 100% pa and like FO you won’t be able to withdraw any of it.
What the F is the point if you can’t access the money you just put in an has not been assigned you can’t say please can I have it back in which case FO says FOFf we are keeping it.
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Post by df on Mar 5, 2020 22:53:48 GMT
On a positive side, it is the sign of some functionality (someone has written another uplifting newsletter). Sadly, no mention of when our withdrawals will be processed...
You can earn 10%+ on your cash, but you can never get it back, just watch you investment growing on you computer screen and be happy...
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michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Mar 5, 2020 23:42:56 GMT
On a positive side, it is the sign of some functionality (someone has written another uplifting newsletter). Sadly, no mention of when our withdrawals will be processed... You can earn 10%+ on your cash, but you can never get it back, just watch you investment growing on you computer screen and be happy...Ahh, but that's all cash is most of the time. Just be sure to check the top of the screen and hope it doesn't say FO. Call me miserly, but I'm sure there was a certain pleasure (and a certain fear) in days gone passed, of unlocking the household safe and counting & weighing all that gold within  Now we just log into three dozen websites....
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Post by Ace on Mar 6, 2020 0:06:42 GMT
On a positive side, it is the sign of some functionality (someone has written another uplifting newsletter). Sadly, no mention of when our withdrawals will be processed... You can earn 10%+ on your cash, but you can never get it back, just watch you investment growing on you computer screen and be happy...Ahh, but that's all cash is most of the time. Just be sure to check the top of the screen and hope it doesn't say FO. Call me miserly, but I'm sure there was a certain pleasure (and a certain fear) in days gone passed, of unlocking the household safe and counting & weighing all that gold within Now we just log into three dozen websites.... Three dozen! You've got me worried now, I'm one short 😨 EDIT: As you were, I forgot Revolut 😆
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benaj
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N/A
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Post by benaj on Mar 6, 2020 9:03:38 GMT
Like df, I do see the positive side of this campaign. More cash = liquidity right in the short term? which might resolve some of the existing issues related to existing lenders I hope. I texted "END" to keep me less busy. |
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Ukmikk
Member of DD Central
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Post by Ukmikk on Mar 6, 2020 11:30:08 GMT
It all smacks of desperation to me. Seems like they will promise anything to try and lure cash onto the platform. You would have to be very brave to put any faith in this farce.
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zlb
Member of DD Central
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Post by zlb on Mar 6, 2020 18:10:16 GMT
Like df , I do see the positive side of this campaign. More cash = liquidity right in the short term? which might resolve some of the existing issues related to existing lenders I hope. I texted "END" to keep me less busy. so this suggests that new money enables earlier lenders to withdraw their money, and so on...? Like @greenwood2 I'm 'intrigued', as in how they think they can achieve this. When a p2p platform announces something it's always the case that it's machinations aren't available for public scrutiny.
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Post by df on Mar 6, 2020 21:07:58 GMT
Like df , I do see the positive side of this campaign. More cash = liquidity right in the short term? which might resolve some of the existing issues related to existing lenders I hope. I texted "END" to keep me less busy. so this suggests that new money enables earlier lenders to withdraw their money, and so on...? Like @greenwood2 I'm 'intrigued', as in how they think they can achieve this. When a p2p platform announces something it's always the case that it's machinations aren't available for public scrutiny. Frustrating thing is that we don't know what is going on with FO. All we can do is to guess and speculate... Since last April, when things started to go wrong, we are getting positive updates (I keep all emails so may be one day make them into a time line and post here). One essential element in realising all these promises is missing - there was hardly any borrowing in the past 11 months. I've just checked all my live investments (I still have about 10 of them I didn't attempt to withdraw - I only had one £10 chunk invested in February and that was allocated to my oldest investment dated Dec 2017. I don't know how long one can sustain p2p platform without borrowers. I also doubt that the imaginary 10% can attract new any significant money coming in to platform.
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Ukmikk
Member of DD Central
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Post by Ukmikk on Mar 7, 2020 10:35:31 GMT
And don't forget the 8% paid on 'pooled' (un-lent) funds.
Has anyone been paid this yet? (Not that you could withdraw it if you had).
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zlb
Member of DD Central
Posts: 1,422
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Post by zlb on Mar 8, 2020 10:18:24 GMT
so this suggests that new money enables earlier lenders to withdraw their money, and so on...? Like @greenwood2 I'm 'intrigued', as in how they think they can achieve this. When a p2p platform announces something it's always the case that it's machinations aren't available for public scrutiny. Frustrating thing is that we don't know what is going on with FO. All we can do is to guess and speculate... Since last April, when things started to go wrong, we are getting positive updates (I keep all emails so may be one day make them into a time line and post here). One essential element in realising all these promises is missing - there was hardly any borrowing in the past 11 months. I've just checked all my live investments (I still have about 10 of them I didn't attempt to withdraw - I only had one £10 chunk invested in February and that was allocated to my oldest investment dated Dec 2017. I don't know how long one can sustain p2p platform without borrowers. I also doubt that the imaginary 10% can attract new any significant money coming in to platform. so that is weird - yes I'd forgotten about the no borrowing on my account - which is empty but not closed. oh dear.
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Post by Ace on Mar 8, 2020 10:40:55 GMT
Another promo email out today. Apparently they don't know the difference between a century and a decade! Can't say I'm surprised.
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Post by df on Mar 8, 2020 14:10:03 GMT
Another promo email out today. Apparently they don't know the difference between a century and a decade! Can't say I'm surprised. Yes, I've noticed this too, made me feel 20 years younger  . It also seem to be exactly the same we've received 3 days ago.
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. It also seem to be exactly the same we've received 3 days ago.