December ended what looks like a profitable 2015 for me in my quest for peer lending profits. Let's see how I did.
Lending Club Loans
High Rate Portfolio on LC
Bitcoin Click Here To Continue
Bitcoiners, slow your roll. Relax.
We all know by now that core developer Mike Hearn has chosen to leave the Bitcoin project and read his scathing critique about Bitcoin being a failure. You know and I know that it’s not a failure, that it’s a work in progress.
This does not mean we (the Bitcoin community) should act like a jilted lover and lash out at Mike or his claims with strong denials and claims of how crazy he is when some of his points are valid. A couple of the things he Click Here To Continue
With the moves made in December by Loanbase, now all of the big 3 BTC lending platforms (BTCJam, Loanbase and Bitbond) have fixed rate pricing for loans on their platforms. Fixed as in every A rated loan on the platform pays XX% interest and every B rated loan pays YY% interest.
This is a very controversial topic in Bitcoin lending communities and it makes sense that it would be, especially since 2 key features of Bitcoin (and its enthusiasts) are decentralization and consensus. Click Here To Continue
Happy New Year to all.
I haven't tabulated my own returns for 2015 yet but I thought it would be a good idea to take a look at how the little guy/retail investor did this year.
Each and every year, more and more lending platforms are coming on line yet choices for retail investors are still quite limited. Let's look at some topics and see how the little guy fared.
USD Peer Lending Platforms
CBS Marketwatch did a great story last week on why investors, especially income investors, should be Click Here To Continue
Recently it has come to light that Prosper issued a loan through their online marketplace to the husband of the husband/wife team that were the San Bernardino shooters. I was asked to comment and help clarify some issues for a story on the excellent financial news site TheStreet.com. In the process of helping with this article, I realized that clarification is needed for the broader public about what these lending sites do and what they don't do.
Just a friendly reminder, spoons and forks Click Here To Continue
Inside Bitcoins is the best series of Bitcoin conferences today. Meckler Media runs it and does an outstanding job putting on a great, fun and informative conference. Like their Chicago conference in the summer I will be speaking again. Unlike in Chicago, in San Diego on Dec 14-16, I will be moderating panel specifically on P2P Lending in Bitcoin called Driving Adoption: Peer to Peer Lending in Bitcoin. This panel will be on Dec 16th.
It goes without saying that you should come just to see Click Here To Continue
As a blogger, I am always looking for other good blogs to read and teach me something new. Nearly every online lending platform has its own blog, and honestly, most of them aren't very good. They are trying to build their businesses so a blog is an afterthought sometimes. They all seem to use their blog mostly as a PR tool, like 'Hey check out new feature XX we are doing' style of posting.
As blogs go, most lending platform blogs are lacking, however the tidbits of information Click Here To Continue
October saw some good activity in my lending accounts. Of my 7 places where I lend either BTC or USD (counting Lending Club twice for my 2 portfolios there), 6 of them made money although a couple only barely so and only one did I receive no payments although only 2 were due. Let's take a look:
Lending Click Here To Continue
There's big news this week in the FinTech/p2p lending world so I am going to go over a couple of the bigger stories and see how they could impact us lenders.
Changes in Crowdfunding Rules
Crowdfunding rules are governed by the SEC. They finally came out with their rules on Title III that allows for non-accredited investors, like me and many of you, to invest in the equity of new companies. This is a potentially huge transformational type of ruling as companies are waiting longer and longer Click Here To Continue
Platform risk is something mentioned here often yet rarely discussed in detail. Now we have an example of why thinking about the platform risk (the risk that the platform itself will go out of business) is something we need to think about and consider when it comes to investing on new platforms.
Thanks for the reminder, Trustbuddy, although you could have returned our fellow lenders' funds first.....
So what really happened to Trustbuddy?
Trustbuddy is (was?) a peer to peer lending platform Click Here To Continue