In one of my previous posts on Bitcoin lending, I talked about the biggest site for BTC based peer to peer lending, BTCJAM and how it works. Ryan from Peer and Social Lending (another good p2p lending blogger) also recently posted about lending on BTCJAM with a nominal amount of cash.  It is in fact the biggest, but it is not the best platform for BTC based peer lending.  The best is BitLendingClub. If you have ever noticed the big edge that insiders have in all financial areas (like the stock Click Here To Continue
August has come and gone and I had another pretty good month. Let's see how we did based on my big 4 categories of Private Loans, Bitcoin Loans, Lending Club Loans and Prosper Loans:   August 31,2014 Interest Rec'd Net Interest Principal Rec'd Principal Remaining ROI Private Loans 142.47 142.47 983.14 1804.22 7.90% Bitcoin Loans 324.7 324.7 1007.01 1276.76 25.43% Prosper Loans 32.28 30.29 47.7 2698.49 1.12% Lending Club Loans 34.65 33.84 46.29 2898.86 1.17% Totals 534.1 531.3 2084.14 8678.33 6.12% Bitcoin Click Here To Continue
I got a great question and request from fellow peer lending blogger Simon Cunningham of Lending Memo about sharing screenshots of my LC acct. His blog is really good and you should check it out. His approach is very different to mine but as we well know, there are lots of different ways to get to the finish line.  My methodologies are different than many in this space thanks to my big experience in Credit and my little experience with technology as compared to many in this industry on both accounts. Click Here To Continue
The Fitch ratings agency, who along with Standard & Poor's are the 2 largest US based ratings agencies just released their first report on Peer to Peer Lending. While the report is based on the lending platforms themselves, you can't have a report on the platforms without examining the industry in which they operate. This report does both.  This report is so important that I think every peer lending investor should have it.  A link to the report is right here: Overall, Click Here To Continue
Another month has come and gone and we have had another successful month here at   July 31,2014      Interest Rec'd Net Interest Principal Rec'd   Principal Remaining     ROI Private Loans       187.87                187.87                  937.74             2934.82                  6.40% Bitcoin Loans       109.06               109.06               1603.07              Click Here To Continue
The US Gov't has decided that Bitcoin (BTC) is to be taxed like property so upon its sale we recognize the capital gains and losses.  This means BTC gets the exact same tax treatment as stocks and real estate.  There are some serious implications for BTC investors/lenders as a result of this ruling, but you may be surprised to hear that some of these implications are to our benefit. DISCLAIMER: While I do finance for a living, I am NOT an accountant. This is MY interpretation only and should Click Here To Continue
Peer lending and crowdfunding are making their way into the Bitcoin ecosystem/economy and people are starting to take notice. I have gotten to know alot of great people in the Bitcoin (BTC) ecosystem so far including England's own Jamie Cressey, despite the fact he's not an Arsenal fan like I am.  Jamie is the creator of the newest and most user friendly Equity Crowdfunding platform in the market today called Coinsortium. While my focus is on peer lending and crowdfunding from the borrowing Click Here To Continue
If you are like many of us in the p2p lending world, you have told friends and family how awesome it is and how safe an investment these loans are.  Most of our friends and family don't care or don't realize or don't want to realize these benefits and that's ok, but some people actually listen to us when we talk about the benefits of peer to peer lending. Some of us are involved in affiliate programs to bring referrals to the lending platforms, although I am not one of them. Some of these friends Click Here To Continue
June has come and gone. As you have seen and heard, I have taken on a new category of loans this month, Bitcoin. I have new loans based in Bitcoin and to be repaid to me in Bitcoin. Going forward, I will convert all my BTC loan stats into US Dollars based on the price of Bitcoin at the end of the month, in this case June 30th. This has no impact on my returns since 1% is 1% whether its in USD or BTC or EUR or whatever other currency.  There may or may not be an impact from Currency conversion Click Here To Continue
My first month investing in peer loans based in Bitcoin (BTC) has come to a close and I have learned some VERY important lessons.   Lesson 1: LC is Blind but BTC Sees Prosper and LC are double blind meaning we don't know who our borrowers are and the borrowers don't know who we are. BTC lending is different. Social matters. The lending platforms look to link up LinkedIn, Facebook, EBay and PayPal accounts as ways to verify identity and sift legitimate borrowers from those just looking to Click Here To Continue
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