hazellend
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Post by hazellend on Apr 25, 2018 12:37:51 GMT
I thought you believed the 'p2p' community was already fully invested ? I know discounting solves all manner of problems apparently but provides fresh funds as well - blimey Suppose people could just platforms with discounting if that's what they want hey ho Not sure what your point is or if you agree with me?
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marka
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Post by marka on Apr 25, 2018 20:00:49 GMT
SophieThing I know we have been there before, but it looks like the 'Bots' are back. Trying to load my IFISA by selling from the standard account and buying in the IFISA. On two different screens I press sell on the standard account then immediately press invest, amount execute on the IFISA account. Nearly every time user i***1 beats me to it. It is not possible to refresh the screen, see the offer, and execute a sale quicker than I can when I am expecting it. I have tried medium and very small sales - they all get gobbled up I am sure i***1 must have a Bot running which I thought was against Moneything's T&Cs The effect is that I cannot operate a MT IFISA, so I well may have to give up and move the IFISA to another platform - disappointing after waiting so long for MT's IFISA. Morning, Just had a look at the logs and it doesn't appear to be any bots at work. There are however currently nearly 45 users active on the site at the moment (which is higher than normal for a Saturday morning), perhaps because it was mentioned that someone was selling some popular pawn loans. I would also mention that all ISA accounts start with a 'i' and end with a '1' and there are currently 7 active ISA user this morning. Other than keep an eye out for potential bots which would go against our Ts&Cs, there is not a lot we can do to help facilitate users to be able to transfer their holdings via the SM without going against the rules. I would only suggest that you might try a quieter time or perhaps wait until the end of the weekend when others may have completed their ISA purchases. Kind regards, Ed I'm convinced that user a***3 is running a bot against loan MTAQ634N. This doesn't come for sale on the SM very often and certainly doesn't hang around long when it's available - I only had seventy quid's worth as I picked it up by chance on the SM a few months ago. I tried to sell it/re-buy it in my shiny new IFISA and it was snaffled within the couple of seconds it took me to switch users and load the SM listing. Looking at the latest transactions for this loan a***3 has made 4 of the last 10 purchases.
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oldtimer
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Post by oldtimer on Apr 25, 2018 20:11:36 GMT
I agree re a***3 he snaffled several parts of this loan when I was transferring it to my ifisa during the day. In the end I got up in the middle of the night to complete the transfer in small chunks.
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toast
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Post by toast on Apr 25, 2018 21:51:35 GMT
I agree re a***3 he snaffled several parts of this loan when I was transferring it to my ifisa during the day. In the end I got up in the middle of the night to complete the transfer in small chunks. There could of course be many different a***3, but it's not the first time they've been noticed: p2pindependentforum.com/post/168386/threadPretty sure MoneyThing have added in some anti-bot measures since then.
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Post by webbski9 on Apr 26, 2018 7:10:55 GMT
Elliot et al...I am invested across the whole spectrum and have been way before the start of Moneything.And,of course,I accept the risks. My point is purely that many platforms are basically "stuck" and people are unable to make investment decisions because they are unable to raise funds from investments to either a) re-invest or b) move on to new investments .So,the only answer is to allow a real SM to operate.After all, how do you think the Stockmarket exists ?? Nothing new here and its not trying to reinvent the wheel.
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bugs4me
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Post by bugs4me on Apr 26, 2018 8:33:39 GMT
Elliot et al...I am invested across the whole spectrum and have been way before the start of Moneything.And,of course,I accept the risks. My point is purely that many platforms are basically "stuck" and people are unable to make investment decisions because they are unable to raise funds from investments to either a) re-invest or b) move on to new investments .So,the only answer is to allow a real SM to operate.After all, how do you think the Stockmarket exists ?? Nothing new here and its not trying to reinvent the wheel. MT made a decision some 12 months ago that discounting was not an option although their point contained some fluidity in their thinking - p2pindependentforum.com/post/226815A couple of months ago SteveT posted a poll and the results were 55% in favour of discounting but sentiment can change relatively quickly. Cannot see the point in hosting another poll but may be beneficial if MT visited this subject again. Certainly the ‘stuck’ SM needs some help - albeit just in a small way.
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Post by webbski9 on Apr 26, 2018 16:46:13 GMT
Bugs4me...thanks .And...exactly,MT should consider it .After all,at the time of the poll ( and I would hazard a guess and suggest the % could now be much higher ) 55% of their CUSTOMERS wanted discounting they should implement it ...I hope they are looking
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carolus
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Post by carolus on Apr 26, 2018 16:57:37 GMT
Bugs4me...thanks .And...exactly,MT should consider it .After all,at the time of the poll ( and I would hazard a guess and suggest the % could now be much higher ) 55% of their CUSTOMERS wanted discounting they should implement it ...I hope they are looking The poll did not say that 55% of Moneything lenders wanted discounting. What it said was that 55% of people who answered the poll wanted it. Those who did answer represent a small (and selfselecting) proportion of the overall population of customers, or indeed may not even all be customers at all. Personally I'm slightly in favour of discounts/premiums, but I think it's important to keep in mind what the poll actually showed, and not treat it as some sort of solid indicator of widespread support.
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bugs4me
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Post by bugs4me on Apr 26, 2018 22:01:30 GMT
The poll did not say that 55% of Moneything lenders wanted discounting. What it said was that 55% of people who answered the poll wanted it. Those who did answer represent a small (and selfselecting) proportion of the overall population of customers, or indeed may not even all be customers at all. <snip> Fair point but I remember that when SM discounting was first loosely discussed I failed to understand what damage it would do - my conclusion was none.
If I hold £xx of whatever loan which is clean and I'm prepared for whatever reason to offer that loan at a discount - then surely if a willing buyer is prepared to purchase what harm is there in that to the purchaser.
I'm probably dense as I simply cannot understand folks that are against it. I fully respect their opinion which of course they are entitled to, but I simply cannot understand their negativity towards discounting. So I stand to be enlightened on that one.
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carolus
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Post by carolus on Apr 26, 2018 22:46:28 GMT
The poll did not say that 55% of Moneything lenders wanted discounting. What it said was that 55% of people who answered the poll wanted it. Those who did answer represent a small (and selfselecting) proportion of the overall population of customers, or indeed may not even all be customers at all. <snip> Fair point but I remember that when SM discounting was first loosely discussed I failed to understand what damage it would do - my conclusion was none.
If I hold £xx of whatever loan which is clean and I'm prepared for whatever reason to offer that loan at a discount - then surely if a willing buyer is prepared to purchase what harm is there in that to the purchaser.
I'm probably dense as I simply cannot understand folks that are against it. I fully respect their opinion which of course they are entitled to, but I simply cannot understand their negativity towards discounting. So I stand to be enlightened on that one.
Sure, as I said later in the post, I think I'm in favour of it as well. My point was simply that using the poll as evidence that 55% of all MT customers think that, as the poster I quoted did, is not correct.
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pom
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Post by pom on Apr 27, 2018 7:31:37 GMT
Personally I'd want to know more about potential tax implications before I got too excited about a non-par SM. I don't think we ever got a conclusive answer as to whether MT loan parts were simple debts, but IIRC that would only apply to PM purchased parts anyway. Just the thought of possibly having to add MT trades into my already pretty complicated tax reporting makes me far less keen on the idea anyway.
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Post by webbski9 on Apr 27, 2018 7:46:26 GMT
Carolus..OK ,take your point .So,its easily proved .Moneything could instigate a poll of lenders. Pom....again ,MT can/should ask the authorities.I'm guessing here,but LOAN parts are no different to those of companies on the Stock Exchange .
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elliotn
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Post by elliotn on Apr 27, 2018 14:03:16 GMT
Carolus..OK ,take your point .So,its easily proved .Moneything could instigate a poll of lenders. Pom....again ,MT can/should ask the authorities.I'm guessing here,but LOAN parts are no different to those of companies on the Stock Exchange . Have you tried abl, FS, AC, TC, Blend etc? Why do you insist everyone has the same market place? Do you not think some investors appreciate a variety of choice? Why not simply invest amounts you will not require quick recourse to committed capital in par platforms? I find your investment strategy wholly baffling - why do you just not avoid platforms whose failing secondary markets you find so abhorrent? -> ??
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niceguy37
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Post by niceguy37 on Apr 27, 2018 14:20:15 GMT
The problem with allowing a premium on the secondary market is that value is sucked out of the system by traders at the expense of genuine lenders. (Traders make money buying and selling, but this means there is less money made by genuine long-term lenders, who then have to pay a premium for the more desirable loans to get them from traders.)
At present you can buy something on the secondary market at par, easily re-investing returned interest or other funds as they become available, and be confident that the loans are, defaults aside, good value. But as soon as there is selling at a premium the big boys with very deep pockets will buy up the best loans, and then try to unload them shortly afterwards at a premium.
Personally I'm in favour of a fair-for-all system that gives lenders a good return on their investment without too much workload, borrowers access to finance at fair rates, and MoneyThing a reasonable profit.
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IFISAcava
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Post by IFISAcava on Apr 27, 2018 14:21:22 GMT
The problem with allowing a premium on the secondary market is that value is sucked out of the system by traders at the expense of genuine lenders. (Traders make money buying and selling, but this means there is less money made by genuine long-term lenders, who then have to pay a premium for the more desirable loans to get them from traders.) At present you can buy something on the secondary market at par, easily re-investing returned interest or other funds as they become available, and be confident that the loans are, defaults aside, good value. But as soon as there is selling at a premium the big boys with very deep pockets will buy up the best loans, and then try to unload them shortly afterwards at a premium. Personally I'm in favour of a fair-for-all system that gives lenders a good return on their investment without too much workload, borrowers access to finance at fair rates, and MoneyThing a reasonable profit. So just allow discounts then, as on eg AC?
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