jonno
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Post by jonno on Dec 4, 2015 13:40:59 GMT
I wasn't convinced about this until earlier when three loans were launched simultaneously at 11a.m. I only managed to get on one loan i.e. the property one. fundingsecure , are you planning to do this on a regular basis? If so pre-funding will need to be considered. I signed up on FS quite a while back, but after failing on a few loans put it into the 'lesson learned' pile and moved on. After the launch of the SM I figured that I would give it a go and see how that has changed things. For those who have more experience than I do (practically anyone!) on FS... is today's pace normal? I saw 1x loan fill to 100% in 30 seconds and the other 2 were only seconds longer. Is this the standard experience? I know that Abl is currently going through a tweak to it's approach for small loans and agree with the comments about SS / AC providing a more equitable position. If the answer to my question is 'yes' then I guess I can go back to ignoring this platform until it does something similar. Which would be a shame as it does appear to offer a slightly different view on what to invest in. Had you asked this a week or so ago I'd have said that provided you were at your computer at launch time you would be successful on loans of various sizes, even the small ones. But there has been a shift recently, with the responsiveness of the site noticeably slower at launch time meaning that I have come close to missing the small ones and today actually missed two,which hasn't happened to me before. This slow down must be related to volume of traffic.Cause? well not helped by launching three at once,but clearly coincides with launch of SM.
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ablender
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Post by ablender on Dec 4, 2015 15:44:05 GMT
The problem I usually find is not the speed itself. SM on SS is much faster.
The problem I usually find is not being available at the time of launch. Any form of prefunding which secures a minimum amount would help me.
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mikes1531
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Post by mikes1531 on Dec 4, 2015 21:30:33 GMT
Isn't this problem just the same as buying limited numbers of concert/sports tickets? Those that are in it to make a quick buck will just tout them after buying. We haven't solved that problem yet so I doubt there will be a fair way of solving this on FS. Unfortunately, for such small loans it inevitably comes down to those with a better internet connection as the lending format becomes more popular. I don't see how prefunding would help as there would be the same amount of interest at prefunding as traditional funding time. : Yes, there would be as much interest in a loan via pre-funding as the current situation. Probably more, actually, because not everyone is willing to drop everything and be watching the website, finger poised over the 'Buy' button, at the announced release time. The big advantage of pre-funding is that it would level the playing field compared to now, when people with superfast connections and the ability to be at the website at release time have a huge advantage over everyone else. The establishment of a SM that allows selling at a premium has made matters worse, because it encourages people to invest more than they really want so that they can make even more money by selling the excess. Flippers will take move in and take over very quickly -- if they haven't already.
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Post by acacia on Dec 8, 2015 9:24:35 GMT
Isn't this problem just the same as buying limited numbers of concert/sports tickets? Those that are in it to make a quick buck will just tout them after buying. We haven't solved that problem yet so I doubt there will be a fair way of solving this on FS. Unfortunately, for such small loans it inevitably comes down to those with a better internet connection as the lending format becomes more popular. I don't see how prefunding would help as there would be the same amount of interest at prefunding as traditional funding time. : Yes, there would be as much interest in a loan via pre-funding as the current situation. Probably more, actually, because not everyone is willing to drop everything and be watching the website, finger poised over the 'Buy' button, at the announced release time. The big advantage of pre-funding is that it would level the playing field compared to now, when people with superfast connections and the ability to be at the website at release time have a huge advantage over everyone else. The establishment of a SM that allows selling at a premium has made matters worse, because it encourages people to invest more than they really want so that they can make even more money by selling the excess. Flippers will take move in and take over very quickly -- if they haven't already. So are you suggesting a lottery system for smaller loan parts? I agree, the SM has not been thought through - discussed at length on other threads. However, as the FS becomes more even more popular surely interest in loans offering >10% will become way over-subscribed. I firmly believe that the difficulty in picking up recent loans is due to the launch of the SM and all it's incompetences. However, I do think that the future growth and popularity (particularly as loans offer~13%) will have similar impacts making it just as difficult (even with a reformed SM) to pick up loans compared to when I started 18 months ago.
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mikes1531
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Post by mikes1531 on Dec 8, 2015 20:49:47 GMT
acacia : Yes, there would be as much interest in a loan via pre-funding as the current situation. Probably more, actually, because not everyone is willing to drop everything and be watching the website, finger poised over the 'Buy' button, at the announced release time. The big advantage of pre-funding is that it would level the playing field compared to now, when people with superfast connections and the ability to be at the website at release time have a huge advantage over everyone else. The establishment of a SM that allows selling at a premium has made matters worse, because it encourages people to invest more than they really want so that they can make even more money by selling the excess. Flippers will take move in and take over very quickly -- if they haven't already. So are you suggesting a lottery system for smaller loan parts? I agree, the SM has not been thought through - discussed at length on other threads. However, as the FS becomes more even more popular surely interest in loans offering >10% will become way over-subscribed. I firmly believe that the difficulty in picking up recent loans is due to the launch of the SM and all it's incompetences. However, I do think that the future growth and popularity (particularly as loans offer~13%) will have similar impacts making it just as difficult (even with a reformed SM) to pick up loans compared to when I started 18 months ago. The main things I'd like to see are... - getting rid of the flipping opportunities. Not allowing sales at at a premium would reduce the demand from flippers who are buying parts only so that they can turn around and sell them immediately for a profit; and
- allowing some sort of advanced entry of bidding requests so that people don't have to be at their computer -- with a fast broadband connection -- at the moment a loan is released and play the 'fastest finger' game.
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jonah
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Post by jonah on Dec 9, 2015 11:06:57 GMT
The main things I'd like to see are... - getting rid of the flipping opportunities. Not allowing sales at at a premium would reduce the demand from flippers who are buying parts only so that they can turn around and sell them immediately for a profit; and
- allowing some sort of advanced entry of bidding requests so that people don't have to be at their computer -- with a fast broadband connection -- at the moment a loan is released and play the 'fastest finger' game.
This works for me. Personally, I think bullet two is the more important one, but bullet one the easiest to code.
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