One of the advantages of being in many Facebook groups on BTC lending is that information can come from many places with the common goal of working together to lower defaults and increase returns.
Thanks to my friend Camy Lopez, an Australian BTC power user of the lending sites, some great new information has come to light from BTCJam.
Some Fraudulent Loans Repaid
Jam has decided to repay some loans taken out with fraudulent identification.
This one was activated in June but is now Click Here To Continue
This past weekend was the 2nd annual Cryptolina conference. This time, it was in Charlotte at the beautiful Spirit Square in a theater that was formerly a church. It was a fantastic conference with some great lessons. Here are some things I learned.
North Carolina is a Bitcoin battleground
As we have seen in NY with BitLicense, some states are trying to work through Bitcoin with regulation. Others, like California and NC, are trying through legislation. The state legislature in NC has a bill Click Here To Continue
The BTC lending environment is growing, yet volatile. While there is cause for concern, the USD lending platforms had higher defaults their first couple years too. Now 5-7 years down the line, they have streamlined systems and consistent returns. The BTC lending platforms can get there as well.
The Current Environment
A fellow investor on BTCJam released some stats to Jam's Facebook group that showed a disturbing trend.
Disclaimer: To the best of my knowledge this is accurate but Click Here To Continue
I met 2 really great real estate platforms at FinFair, both of which work with retail investors and were worthy of some discussion here. They are Sharestates and Fundrise. Let's dive in and see what they offer.
Sharestates is in a great position in the market. Per Kevin Share, community manager, they have a hot list of existing clientele to call on through their long experience in the industry and their network from a title company operated in part by some of the founders over Click Here To Continue
This week I got to attend and sit on a panel at FinFair 2015 and it was really awesome. I learned some very cool stuff there that will help retail and individual accredited investors (meaning most of you reading this) and I thought I'd share a couple of these things.
The Current Market Needs democratization
Starting with organizer Dara Albright's opening keynote, there was a focus on Investment Banking and bankers. The most striking slide showed how much a recent IPO, Ali Baba, raised Click Here To Continue
This past week I got to go to Inside Bitcoins Chicago and had the fun of sitting on the panel titled "Bitcoin and the Small Business". I learned some terrific stuff there and wanted to share some tidbits with you.
Matthew Roszak of Tally Capital, in the opening keynote talked about how we have to do a better job articulating and executing some of the best use cases for Bitcoin like remittance, micro payments or banking the unbanked.
Here are some other running themes from the conference.
The Click Here To Continue
This last month saw some huge news from the p2plending/marketplace lending world. I thought I would outline some of those stories, their impact and my thoughts on them here.
Story 1: Goldman Sachs enters the business
The New York Times posted a story about the news that huge investment bank Goldman Sachs is getting into online consumer lending. Our friends Peter, Jason, Bo and Ryan at Lend Academy did a nice piece on the coverage as well.
Most banks, investment or commercial, choose to partner Click Here To Continue
Another month has come and gone and there have been some changes to my portfolio that I will go into more detail on further down.This is the monthly report for May where I outline my USD returns on Prosper and Lending Club and my BTC returns which have higher rates and higher defaults.
A reminder, I have 2 loan portfolios on Lending Club; a regular one using my Credit methodology and a High Rate/High Yield portfolio where I use some of my methodologies but actively seek out yield the same way Click Here To Continue
This past week, I had the pleasure to go to the 2nd Annual FinTech Global Expo (produced by Coastal Shows) in San Diego and sit on the Bitcoin panel entitled 'Beyond Bitcoin: The Block Chain Technology and its potential business applications'. It was great fun and there was an interesting focus on small business and real estate based lending platforms. There was some great new updated information there so I thought I'd share some of what I learned.
FinTech and Crowdfunding is truly Global
Due Click Here To Continue
I have been derelict in my monthly reporting but I'm back.
A couple new developments this month including:
April saw the initiation of my Lending Club only High Rate/High Yield Portfolio. The purpose here is to use the same credit techniques I use in my regular portfolio to reduce risk but then seek the highest yields possible. This is to match the goal of many p2p lending investors who are high yield seekers.
Which type of p2p investor are you? Here is my post on this from Click Here To Continue