ablender
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Post by ablender on Sept 26, 2016 6:50:17 GMT
As with all arguments there are always going to be positives and negatives. I am definitely not a supporter of captcha but I do see the need to have some control. Some like mikes1531 have suggested that they do not want to be at the computer 24/7. Fair I would say, but how will this proposal help. If someone places an attractive loan for sale at midnight, instead of being gobbled up it might take 20 minutes. You still need to be there. And what if it is placed, a second after you check? Result. If you want the latest - - you still have to check regularly or as regularly as you can. Other people, I will use GSV3MIaC's post above as an example, have argued for a level playing field: "without favouring people with more time, faster internet connections" Is life a level playing field? And why should it be? Why should someone who have a strength, no matter what that is, not be allowed to use it? Isn't this the way to obtain a job in an interview session? Should I complain that someone has more experience or more knowledge or or or, if I do not get a job? Some ideas that came to me while asleep. . . . What do you think? BTW I left bots out - although technically if someone is able to code the bot themselves, rather than paying someone else to do it, I would see it as part of that person's skill set. |
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adrianc
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Post by adrianc on Sept 26, 2016 7:03:18 GMT
AC-style order-placing?
"I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled.
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ablender
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Post by ablender on Sept 26, 2016 7:09:16 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. Definitely will not get my support.
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pom
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Post by pom on Sept 26, 2016 7:50:39 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. If they did that it would make me very glad I don't need to try and buy on the SM any more....the shrapnel would be horrendous...
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jonah
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Post by jonah on Sept 26, 2016 7:59:05 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. AC order buying is the lowest effort due to this. I think some form of minimum value per buy e.g. £100 may have to be added (likely with a lottery for when purchasers exceed sellers) but over time it is one of the few scalable options.
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dan83
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Post by dan83 on Sept 26, 2016 8:06:06 GMT
I'm happy with the fastest finger first method, although I havnt been able to buy anything since brexit.
If SS say it's done fairly and no bots can get past re-capture, then who am I to argue.
For the people who say hold the loan for a period of time and split it up. If you went to asda an bought the last loaf, would you do the same?
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Post by GSV3MIaC on Sept 26, 2016 8:12:01 GMT
/mod hat off
If the smallest sensible unit is "the loaf", then no .. the issue is with people/bots who buy a whole van load, while other folks get none.
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Post by geraldine1210 on Sept 26, 2016 8:14:22 GMT
I agree with CD. You just need to be patient and you will build up your holding.
Why not try collateral? You can very quickly pick up bits and pieces.
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Post by Deleted on Sept 26, 2016 8:23:54 GMT
SS offer many ops to buy loans, using FFF seems one of the hardest. I'd try
Buy in the PM
Buy in the SM when everyone else is asleep or at work
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Post by yorkshireman on Sept 26, 2016 8:59:58 GMT
Other than possibly not getting the requested amount, what’s wrong with pre-funding?
If you’re not satisfied with the amount bought then you can always use the SM.
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ablender
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Post by ablender on Sept 26, 2016 9:01:57 GMT
/mod hat off If the smallest sensible unit is "the loaf", then no .. the issue is with people/bots who buy a whole van load, while other folks get none. What if you go to Asda, to keep to the same example and you buy the last 10 loafs (loaves) available. Should you be stopped? You were there first you decide and buy what you pick.
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ablender
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Post by ablender on Sept 26, 2016 9:06:12 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. AC order buying is the lowest effort due to this. I think some form of minimum value per buy e.g. £100 may have to be added (likely with a lottery for when purchasers exceed sellers) but over time it is one of the few scalable options. I have problems with setting a minimum of e.g. £100. One of my objection relates to my experience with testing new platforms. If I am testing a new platform I am not willing to put £100 in a single loan on a platform I am not familiar with. And I am glad I follow this rule as I had bad experiences with other platforms. So why should we put new lenders in this position. Another objection is the following. If I receive £57 of interest, why shouldn't I be able to buy a loan part for £57? Why should I be forced to either top it up to the example £100 or wait for another month?
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hantsowl
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Post by hantsowl on Sept 26, 2016 9:21:18 GMT
Whilst I agree that FFF can be annoying at times (particularly when faced with multiple correct solutions), I can usually get what I want eventually. I use the distill plugin to alert me which avoids the need for constant monitoring of the queue (I just need my laptop handily placed). Bear in mind that I am only after a handful of loans, so this will take time. For a new investor wanting to build up a balanced spread of loans I think the SM on SS should work fine as is. It may be an issue with BH's who are looking for 10's of thousands in each loan, but good for Joe average.
Compare that with......
Moneything: almost impossible to buy anything on the SS at the moment since nothing there and anything that appears vanishes within seconds.
Collateral: you can sometimes pick up a couple of 10's of pounds of loans just prior to the 10am launch of new ones, but rarely anything there at other times (apart from the unloved bridle way of course).
FS: SM loans are available, but complicated by a potential tax hit so need to be very careful about what to buy and when.
AC: As mentioned above, their method can eventually result in purchase of the loans you want but can end up with schrapnel and can take a long time to fill.
Bottom line is that I think the SS SM is by far the best that I have come across and would not want to see any changes (apart from limiting the recaptcha to 1correct answer rather than multiple ones).
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hantsowl
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Post by hantsowl on Sept 26, 2016 10:01:05 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. Look at a different example. "I want £500 of PBL126" - This was a small loan and investors allocated £60 through pre funding. Typical sales of this are £60 or less. Let's say a modest 100 people put in an order to buy. £60 becomes available. You end up buying a mere 60p. This will continue until you have many hundreds of tiny parts or you simply give up. I much prefer an even chance to grab the full £60 rather than a guarantee of many 60p bits.
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adrianc
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Post by adrianc on Sept 26, 2016 12:09:19 GMT
AC-style order-placing? "I want to buy £2,500 of PBL135" - £1000 comes on the market, gets shared out between those with orders, you get £100. Your order is now for £2,400. Continue until filled. Look at a different example. "I want £500 of PBL126" - This was a small loan and investors allocated £60 through pre funding. Typical sales of this are £60 or less. Let's say a modest 100 people put in an order to buy. £60 becomes available. You end up buying a mere 60p. This will continue until you have many hundreds of tiny parts or you simply give up. I much prefer an even chance to grab the full £60 rather than a guarantee of many 60p bits. So drop the concept of individual parts. Let's face it, they're not really relevant - and it's not like FC, where they can never be "stuck back together" - you sell 100 x 60p parts, and there's one buyer, they have a £60 part. The 7-day-negative-balance sale ban could still be enforced. You have £60 of PBL126, of which £20 has been bought in the last seven days, so is unsellable until your negative balance is resolved.
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