Test test. Not 100% sure how everything works yet.
Hello CoinPro. I'm jmoulard from BLC, nice to see you !
People, this is one of the best borrowers of Bitlending Club, :)
Hey jmoulard, Thank you for the kind words :)
Hello CoinPro! Percentage is calculated *daily*, so 0.1% =~44% APR for borrower. Investor pays 30% fee on each daily interest, so it's less than this.
Investors form a lane which observes dutch auction rules in real time, so it is quite fun.
The part fo the graph above your current credit depth will be used to pay interests on your behalf, until you repay some part of your debt. The more 'overinvestment' you get, the longer is your 'burnout' - number of days you do not have to care of investors, provided that *nothing changes* here. But this is false assumption as everything changes constantly, since you share your 'overinvestment' possibly with many others.
When you use this 'overinvestment' - i.e. withdraw more coins - your burnout (as well as other borrowers who were offered a line by your lenders) gets shorter.
Each night at 0:00 UTC (no DST) your investors get paid. To prevent this you might theoretically repay your loan before midnight and withdraw shortly after, but this will not help you establish good reputation here. The other way to avoid paying interest is to withdraw completely everything to shrink burnout to 0 days - and this is equivalent to bankrupcy or defaulting here, so this is not recommended either. See Dominic Pelletier case (/u/12).
Getline.in requires 4 confirmations on deposits. Unconfirmed payments do not appear in the wallet as of now.
Since investors are not paid for 'overinvestments', they tend to look for opportunity to invest it elsewhere, hence it may be hard to fund substantial loan. I would recommend frequent withdrawals during the funding period.
Investors get nervous when borrowers fail declared repayment periods - i.e. week is 7 days on most of the planet etc. Remember - you pay only the interest.
When someone wants out, s/he should put a note I guess to clarify the intent. The other way is to raise % to get to the end of line and finally get out.
Good to see you here. Have fun - and take care!
Hey Zonk, thank you for all that info :) That clears up some of the questions I had.
Thanks. Read more from Tobixen loan descriptions here: https://getline.in/u/1445 and here: https://getline.in/u/134
Take care! Zonk!
Investors. I deposited funds into account to cover the weeks withdrawal amount, but it has not posted to account. I have sent in a support ticket.
Hi I am sciack from BLC if you want to invest with me I have moved on this platform now!
Hey sciack, nice to see a BLC refugee here on line :)
Facebook not verified
@unamatrix - ? https://www.facebook.com/coin.pro.56
hey coinpro. Nice to see familiar face from BLC :)
Hey Raka :) Too bad BLC is closing shop.