dead-money
Rocket to the Moon
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Post by dead-money on Jul 21, 2020 9:48:48 GMT
"I wonder if this SM is being dangled - but with no intention to deliver it - in the belief that C19 will abate, and "happy days" [NMCs] will return ..... or people awaiting the SM will get bored and think about something else."
I believe AC has every intention of delivering it. It's in private beta testing currently. So hopefully will see the light of day soon!
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blender
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Post by blender on Jul 22, 2020 8:13:44 GMT
It is in testing as we said in the last lender bulletin. Everything is progressing well and quickly as is prudent. Yes, it will be in testing and available if and when AC consider it prudent to deploy it. However, I am tending to join those who feel that AC will avoid providing this facility and do not wish to allow us to depart at a loss, in extremis. This condition of lock-down of funds has continued for four months, and could be spun out until market conditions change. I don't think they are prepared to have these accounts tested by any market. Only a firm date would restore confidence.
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Post by davee39 on Jul 22, 2020 8:22:31 GMT
Apparently the development team are being housed at a Scottish Golf Course, castle and hotel estate.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Jul 22, 2020 8:33:17 GMT
Apparently the development team are being temporarily housed at a Scottish Golf Course, castle and hotel estate, whilst housing is being built near a golf course and estate. Unfortunately there is a small issue with the missing wind farm electric supply.
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ceejay
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Post by ceejay on Jul 22, 2020 8:42:39 GMT
It is in testing as we said in the last lender bulletin. Everything is progressing well and quickly as is prudent. Yes, it will be in testing and available if and when AC consider it prudent to deploy it. However, I am tending to join those who feel that AC will avoid providing this facility and do not wish to allow us to depart at a loss, in extremis. This condition of lock-down of funds has continued for four months, and could be spun out until market conditions change. I don't think they are prepared to have these accounts tested by any market. Only a firm date would restore confidence.
I don't think there is any merit in giving a lot of notice, even if they were confident about a release date (say) two weeks ahead. I have no idea how much new money is coming into the AAs at the moment but if there is any at all then it would surely dry up completely if if we were given a definite date for the availability of discounted units on a secondary market. My guess, based on no supporting evidence whatsoever, is that it will go live on 3 August (first Monday of the month, just after the interest run) and that we'll be told about it just a few days before. You heard it here first!
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mrsb
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Post by mrsb on Jul 22, 2020 8:47:34 GMT
It is in testing as we said in the last lender bulletin. Everything is progressing well and quickly as is prudent. Yes, it will be in testing and available if and when AC consider it prudent to deploy it. However, I am tending to join those who feel that AC will avoid providing this facility and do not wish to allow us to depart at a loss, in extremis. This condition of lock-down of funds has continued for four months, and could be spun out until market conditions change. I don't think they are prepared to have these accounts tested by any market. Only a firm date would restore confidence.
I agree completely. Beta test it until it's no longer needed (is their hope in my view).
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blender
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Post by blender on Jul 23, 2020 11:57:36 GMT
Note that stuartassetzcapital has not posted to say we have it all wrong. I take that as a confirmation - but have already taken the appropriate action, rather late. |
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iRobot
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Post by iRobot on Jul 23, 2020 12:30:26 GMT
Note that stuartassetzcapital has not posted to say we have it all wrong. I take that as a confirmation - but have already taken the appropriate action, rather late. I'd rather presumed that Stuart / AC had 'shut up shop' when it came to this forum; see his last post: p2pindependentforum.com/post/394649/threadGiven the regulatory framework a financial services company must operate within when it comes to communications - which include forum posts - and the potential for 'providing oxygen' to the ignorant / malevolent minority when it comes to responding to baseless criticisms and unfounded falsehoods, I'm kinda surprised any platform engages here at all. Don't get me wrong, I'm pleased they do, just a little surprised.
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blender
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Post by blender on Jul 23, 2020 14:03:10 GMT
I don't think so. Stuart was engaging in this thread on 7&8 July, and can surely cope with a polite challenge when customers are left in a difficult position and a promised facility does not arrive when expected. It is testing for a platform when stuff happens outside of their control, but this is entirely within control. Failing to engage with the majority of reasonable customers because a very few are unreasonably aggressive is not a very productive position to take. FC went that way, but AC have engaged well and gained credit for it. (Yes I know there is a facility for identified members but I do not wish to identify my account). AC created this forum the way it is - so they must have seen the value.
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iRobot
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Post by iRobot on Jul 23, 2020 16:32:31 GMT
Don't disagree with you on the potential merits of any platform maintaining open dialogue (within regulatory parameters, of course) but I was pointing out that his most recent post (on the 8th) implied - or, at least, I've inferred - that there would be no further interaction with the forum. It was meant by way of an alternative interpretation to your 'confirmation' that AC not intending to provide an SM for the QAA.
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blender
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Post by blender on Jul 23, 2020 18:47:27 GMT
Don't disagree with you on the potential merits of any platform maintaining open dialogue (within regulatory parameters, of course) but I was pointing out that his most recent post (on the 8th) implied - or, at least, I've inferred - that there would be no further interaction with the forum. It was meant by way of an alternative interpretation to your 'confirmation' that AC not intending to provide an SM for the QAA. Thanks, iRobot. Looking at that post I take 'No more will be said on this forum' to apply to the loan in question. I think the post to which it refers has been removed - probably rightly, looking at the few that remain. I called out Wanderer's first post myself, and it was heavily redacted by the mods. It seems to me that the first posts made contained ad hominem attacks and accusations which are alien to this forum, and it also seems that if what you suggest is true then someone in a few aggressive posts, for whatever reason, has succeeded in his or her objectives to the detriment of both the platform and its lenders. We have been fortunate to have the engagement of stuartassetzcapital on this site and I certainly hope his withdrawal is not permanent.
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iRobot
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Post by iRobot on Jul 23, 2020 19:46:49 GMT
We have been fortunate to have the engagement of stuartassetzcapital on this site and I certainly hope it is not permanent. | 
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blender
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Post by blender on Jul 23, 2020 22:17:10 GMT
My issue is that some of us had too much cash locked in (due to personal error) when the problem struck and the progress of the SM is not a minor matter. No blame intended - we are where we are. The current statement, at 23 July, on the platform is:
'What is the speed of withdrawal likely to be?
...
We do continue to work on new initiatives to improve liquidity in the Access Accounts. One of the initiatives we’re actively working on is a new marketplace facility for the Access Accounts, which we hope to deliver towards the end of June 2020. This is intended to give lenders more control over the liquidity of their investments, in difficult market conditions such as these, by providing an optional feature to discount your loan parts to incentivise buyers to purchase investments more quickly where desired. We’ll continue to communicate with our investors and keep you updated with our progress.'
Confidence is being lost.
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SteveT
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Post by SteveT on Jul 24, 2020 8:16:24 GMT
My issue is that some of us had too much cash locked in (due to personal error) when the problem struck and the progress of the SM is not a minor matter. No blame intended - we are where we are. The current statement, at 23 July, on the platform is:
'What is the speed of withdrawal likely to be?
...
We do continue to work on new initiatives to improve liquidity in the Access Accounts. One of the initiatives we’re actively working on is a new marketplace facility for the Access Accounts, which we hope to deliver towards the end of June 2020. This is intended to give lenders more control over the liquidity of their investments, in difficult market conditions such as these, by providing an optional feature to discount your loan parts to incentivise buyers to purchase investments more quickly where desired. We’ll continue to communicate with our investors and keep you updated with our progress.'
Confidence is being lost. Beta testing with users began yesterday, but NDA prevents me saying anything more.
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iRobot
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Post by iRobot on Jul 24, 2020 8:26:40 GMT
My issue is that some of us had too much cash locked in (due to personal error) when the problem struck and the progress of the SM is not a minor matter. No blame intended - we are where we are. The current statement, at 23 July, on the platform is:
<snip> Yep. The FAQ should be kept in sync with the latest emails / bulletins, the most recent of which includes: " The testing phase for the new Access Accounts Marketplace should be completed in the next couple of weeks, with a view to putting it live on the platform in July." Even that is rapidly becoming stale. Hopefully the next bulletin (next Friday?) will outline the latest position and the FAQ will be updated to reflect.
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