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Post by GSV3MIaC on Oct 14, 2016 16:06:55 GMT
/Mod hat firmly off
Since opinions seem to differ, I thought I'd try to collect some (doubtless when Ed has a plan/scheme/whatever he will consult widely, but in the meantime ..)
To avoid 'shrapnel' I'd suggest that any investor could set a lower limit (don't give me anything < £x) and Ed can have a limit of his own (no loan part shall be <£Y .. currently £1 iirc). If there just isn't enough to go round, then you either fall back on a lottery, or you assign minimum size parts on some orderly basis (like MT customer number - i.e. priority for early joiners .. or on account balance .. priority or big hitters). If there is enough to go round, then it's 'bottoms up' until the pot runs out. You run the allocation at least 24 hours before go live, tell everyone what they'll likely get, and then at D-day you allocate them the part, assuming they have funded their account. If not, stick the remains on the SM right there, or re-allocate among people who do have (extra) funds available and didn't get what they asked for.
What problem am I trying to solve? Mad rush at 16:00, another one 24 hours later, no idea what or if you are going to get at either time, inconvenience for people who happen to have a real life at 16:00, and MT having no idea how popular a loan is going to be until it launches (or even 24 hours later when the limit comes off).
p.s. you can select two options, but it'd be nice if you didn't select opposing ones!
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trevor
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Post by trevor on Oct 14, 2016 16:26:47 GMT
I'd like to see the SS bottom up/pre funding method used.
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registerme
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Post by registerme on Oct 14, 2016 16:53:59 GMT
I pipped for the "We need some form of pre-funding" option, but actually what I wanted to choose was "I would like some form of pre-funding...".
It seems to me that what we have at the moment works well enough for most people most of the time. Not perfect, room for improvement, subject to resource / prioritisation etc.....
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ali
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Post by ali on Oct 14, 2016 17:01:08 GMT
I pipped for the "We need some form of pre-funding" option, but actually what I wanted to choose was " I would like some form of pre-funding...". It seems to me that what we have at the moment works well enough for most people most of the time. Not perfect, room for improvement, subject to resource / prioritisation etc..... I had the same view but went for 1 and 4 to indicate that I was happy as we are, but if pre-funding was offered...
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Post by ih123 on Oct 14, 2016 17:15:18 GMT
Leave it as it is for me
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archie
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Post by archie on Oct 14, 2016 17:16:52 GMT
I originally voted for 1 and 3 but removed 3 as it delays how long before MT get their float back.
I like the current system but the money could be released in 2 (or even 3) lots to accommodate those at work, say 60-70% at 4pm, rest at 8pm. Bid limit still runs from 4pm so you can only get the max bid in once.
Funding should be done in work hours as it wouldn't be fair to expect the Things to be running credits all evening (I know they often do but it shouldn't be the norm).
None of the schemes are that practical for small loans/renewals.
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archie
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Post by archie on Oct 14, 2016 17:28:23 GMT
Before we get too sold on changing the world... It may just be a case that I've missed some news along the way - is there a completely new website roll-out on the horizon, Ed? ( MoneyThing ) I ask due to SophieThing 's response to a feedback provider on Trustpilot more recently, which is as follows:- Reply from MoneyThing Published 23 September 2016
Hi ****,
Thank you for your review and for your feedback.
We are experiencing a greater demand for loans from lenders than we have borrowers at the moment and we're working on building this up.
I agree with your comments about our website and we are in the process of launching a new site within the next few weeks.
Kind regards
Sophie Ed did hint Shuang and his team are working on something else at the moment. If it is a new website I hope they aren't following the LI example
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trevor
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Post by trevor on Oct 14, 2016 21:11:25 GMT
It's great how it is now if you have access to your computer at 4 o'clock or just after, if not you're stuffed!
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stevio
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Post by stevio on Oct 14, 2016 21:18:23 GMT
Bit pointless discussing - obvious people who can get to computer 4pm happy, others not
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Post by Deleted on Oct 14, 2016 21:51:41 GMT
Yeah the current MT website has a few problems (especially the 4pm spike), but its generally a pretty efficient, lean and fast operation.
Hope any redesign is more evolutionary than revolutionary.
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starfished
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Post by starfished on Oct 14, 2016 22:32:20 GMT
Surprised another option was not included which is leave as is (which is what I chose) but change time of day from always at 4pm i.e. rotate new loans between an 8am, midday, 4pm, and 8pm launch....
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archie
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Post by archie on Oct 15, 2016 6:46:08 GMT
Surprised another option was not included which is leave as is (which is what I chose) but change time of day from always at 4pm i.e. rotate new loans between an 8am, midday, 4pm, and 8pm launch.... I thought we had a poll before on the best time, turns out it was for Collateral I like 4pm, 10am is taken by Collateral, 11am is taken by FS, not sure about other sites. I'd say the main release time still needs to be in work hours so there are Things to manage deposits etc.
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SteveT
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Post by SteveT on Oct 15, 2016 8:03:24 GMT
4pm launch with a bid limit chosen to keep a loan available well into the evening works well. There are always going to be occasional moments when demand far out-strips supply, but pre-funding then wouldn't help much either.
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Post by pedz14 on Oct 15, 2016 8:33:08 GMT
I've only been p2ping for a couple of weeks but so far MT seem to have it right. I don't recall anything getting sold out in the first few hours so limits seems reasonable, and most have went the 24 hours.
I voted 1, but would like a slight variant on 3, of perhaps a couple of hours, thus enabling others a fair chance to top up their original allocation as opposed to a couple of people scooping what's left with £10,000+ purchases.
Not sure it matters what time a loan goes live provided the bid limits have been set correctly. I can never bid at 1600 for one reason or another but haven't had a problem yet getting the amount I have wanted in the initial 24 hours.
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starfished
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Post by starfished on Oct 15, 2016 9:22:31 GMT
Surprised another option was not included which is leave as is (which is what I chose) but change time of day from always at 4pm i.e. rotate new loans between an 8am, midday, 4pm, and 8pm launch.... I thought we had a poll before on the best time, turns out it was for Collateral I like 4pm, 10am is taken by Collateral, 11am is taken by FS, not sure about other sites. I'd say the main release time still needs to be in work hours so there are Things to manage deposits etc. Just to be clear, I wasn't suggesting a fixed time in replacement for 4pm (4pm actually works really well for me personally, I work in an office so usually very close to a laptop, even during many "meetings" ). However, some in the past had complained about the time so was suggesting: Loan 1 | 4pm | Loan 2 | 8pm | Loan 3 | 8am | Loan 4 | Midday | Loan 5 | 4pm | Etc | Etc |
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