webwiz
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Post by webwiz on Mar 7, 2016 22:21:12 GMT
I watch a lot of web traffic to make sure I know what is being sent to me from where .. I have an aversion to being served bits of dud javascript by dodgy sites. . Paranoid? Toi? 
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Post by GSV3MIaC on Mar 7, 2016 22:24:11 GMT
I watch a lot of web traffic to make sure I know what is being sent to me from where .. I have an aversion to being served bits of dud javascript by dodgy sites. . Paranoid? Toi? It ain't paranoia when several of them really ARE out to get you. 8>. Besides, I sometimes want to know why Foul Computing needed, for instance, to send me half a megabyte of data to tell me my balance .. every single time (they have now mostly fixed it) .. some people still pay by the gigabyte!
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webwiz
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Post by webwiz on Mar 7, 2016 22:27:49 GMT
Paranoid? Toi? It ain't paranoia when several of them really ARE out to get you. 8>. Besides, I sometimes want to know why Foul Computing needed, for instance, to send me half a megabyte of data to tell me my balance .. every single time (they have now mostly fixed it) .. some people still pay by the gigabyte! I wish I had your skill set so I could do this stuff. Using this method it looks like on PBL082 after the prefund allocation algorithm ran out of money to allocate there was £5000 left over which went to some lucky FFF. Looking at the sold list you can see that it looks as if people who buy and hold for two days do indeed get 2 days interest.
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ablender
Member of DD Central
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Post by ablender on Mar 8, 2016 7:46:23 GMT
Analysing the sold information for the loan indicated above, I found that there were a total of £2,310,460.15, of loans held for 1 or 2 days, earning an interest of £1020.07.
Where these loan parts funded? I do not know. I think it can be interesting to find how it compares to older loans.
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Post by GSV3MIaC on Mar 8, 2016 9:05:19 GMT
One has to hope the 'sell' links don't actually work .. I didn't try them. 8>.
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sl75
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Post by sl75 on Mar 8, 2016 9:08:23 GMT
Looking at the sold list you can see that it looks as if people who buy and hold for two days do indeed get 2 days interest. ... or more precisely, they get 2 days interest displayed on that page - whether they ever RECEIVE it in their account is another matter (and probably depends on whether the loan parts were paid for).
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webwiz
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Post by webwiz on Mar 8, 2016 9:26:43 GMT
Looking at the sold list you can see that it looks as if people who buy and hold for two days do indeed get 2 days interest. ... or more precisely, they get 2 days interest displayed on that page - whether they ever RECEIVE it in their account is another matter (and probably depends on whether the loan parts were paid for). Yes the interest might get reversed later in the process, we don't really know exactly what we are looking at. But the loans I was referring to were sold within two days of being acquired so there is no doubt in my mind that they were not paid for and were sold to clear the negative balance. It is hard to imagine someone transferring the funds to pay for a loan acquired on INPL and then selling it immediately.
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 9:37:26 GMT
... or more precisely, they get 2 days interest displayed on that page - whether they ever RECEIVE it in their account is another matter (and probably depends on whether the loan parts were paid for). Yes the interest might get reversed later in the process, we don't really know exactly what we are looking at. But the loans I was referring to were sold within two days of being acquired so there is no doubt in my mind that they were not paid for and were sold to clear the negative balance. It is hard to imagine someone transferring the funds to pay for a loan acquired on INPL and then selling it immediately. Maybe it was funded by selling down other loans, or by banked interest? Maybe they default-pre-funded, read the docs and forum discussions, and decided they didn't want to be in? Maybe it was used as a park for spare funds until a "more desirable" loan came available? I've done all of those. OK, not to the levels we're talking about, but I did notice in one of the loans a same-day buy-and-sell for nearly half a mill.
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Post by pepperpot on Mar 8, 2016 9:37:41 GMT
One has to hope the 'sell' links don't actually work .. I didn't try them. 8>. I did, they (un)fortunately don't work on pbl052. Takes you to the log-in page.
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sl75
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Post by sl75 on Mar 8, 2016 9:51:03 GMT
... or more precisely, they get 2 days interest displayed on that page - whether they ever RECEIVE it in their account is another matter (and probably depends on whether the loan parts were paid for). Yes the interest might get reversed later in the process, we don't really know exactly what we are looking at. But the loans I was referring to were sold within two days of being acquired so there is no doubt in my mind that they were not paid for and were sold to clear the negative balance. It is hard to imagine someone transferring the funds to pay for a loan acquired on INPL and then selling it immediately. It's very easy to imagine this. They invest (say) £1000 in the first loan they see, and pay for it. The next day, they see another loan they like, and buy £500 of this, selling £500 of the first loan to pay for that. The day after that, they see yet another loan they like, and buy (say) £300 of this, selling £150 of each of the first 2 loans. In the history, for the first loan, you'll see 3 loan parts - the original now appears to be for only £350, and the other two are for £500 and £150, and sold within 2 days of being acquired.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 9:51:57 GMT
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webwiz
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Post by webwiz on Mar 8, 2016 10:00:24 GMT
Yes the interest might get reversed later in the process, we don't really know exactly what we are looking at. But the loans I was referring to were sold within two days of being acquired so there is no doubt in my mind that they were not paid for and were sold to clear the negative balance. It is hard to imagine someone transferring the funds to pay for a loan acquired on INPL and then selling it immediately. It's very easy to imagine this. They invest (say) £1000 in the first loan they see, and pay for it. The next day, they see another loan they like, and buy £500 of this, selling £500 of the first loan to pay for that. The day after that, they see yet another loan they like, and buy (say) £300 of this, selling £150 of each of the first 2 loans. In the history, for the first loan, you'll see 3 loan parts - the original now appears to be for only £350, and the other two are for £500 and £150, and sold within 2 days of being acquired. OK so your imagination is more active than mine. But it is also possible to imagine someone buying with no intention of ever paying. He puts it on the SM after 2 days; if it sells he collects 2 days interest without ever putting up capital, it it doesn't sell then SS put it on the SM and we don't know if he keeps the interest, but either way he can't lose.
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sl75
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Post by sl75 on Mar 8, 2016 10:04:00 GMT
He puts it on the SM after 2 days; if it sells he collects 2 days interest without ever putting up capital, ... In at least one instance when I sold a loan part on the SM after 2 days (due to something not dissimilar to what's described above, although due to the lag in added funds being credited, the account ended most days in deficit), the interest was never credited to my account. I assumed this was the normal policy to hold back interest equivalent to the amount that hasn't been paid for, even though it appears in the "My loans" sold section. However, as you don't find out about this until after the end of the month, it probably leads to plenty of people thinking they've found a way to cheat the system.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 10:07:32 GMT
He puts it on the SM after 2 days; if it sells he collects 2 days interest without ever putting up capital, ... In at least one instance when I sold a loan part on the SM after 2 days, the interest was never credited to my account. I assumed this was the normal policy. However, as you don't find out about this until after the end of the month, it probably leads to plenty of people thinking they've found a way to cheat the system. My thoughts exactly. New members think that they have found a "loophole" as a stream of free money; this could lead to up to one month of this user gaming the system to the max (before the new INPL rules) in the belief that he is gaining the interest. Maybe we should ask @shanectheman if he kept his interest ( see here)
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webwiz
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Post by webwiz on Mar 8, 2016 10:09:12 GMT
He puts it on the SM after 2 days; if it sells he collects 2 days interest without ever putting up capital, ... In at least one instance when I sold a loan part on the SM after 2 days (due to something not dissimilar to what's described above, although due to the lag in added funds being credited, the account ended most days in deficit), the interest was never credited to my account. I assumed this was the normal policy to hold back interest equivalent to the amount that hasn't been paid for, even though it appears in the "My loans" sold section. However, as you don't find out about this until after the end of the month, it probably leads to plenty of people thinking they've found a way to cheat the system. But in your own example in your previous post isn't the lender entitled to the interest? They have provided the capital. I should think it is nearly impossible to devise an algorithm which could decide if a particular transaction was "cheating" the system in an active account with a lot of buying and selling.
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