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March 7th, 2006, 09:53 PM #1This could be a good way to invest your affiliate earnings
Has anyone heard of www.prosper.com? It's a peer to peer lending network, stuctured in a similar way to ebay. In fact one of the funders of this site is the guy who originally started ebay (forget his name). Just curious what people's thoughts are as I often lurk here and read.
March 7th, 2006, 10:29 PM #2
It seems like an invitation for fraud to me. I wouldn't be surprised if there were regulatory issues as well.
March 7th, 2006, 11:30 PM #3
March 7th, 2006, 11:43 PM #4
I don't have any doubts about the company or it's backers, just the people who apply for a loan on it. Most are probably fine, and the concept sounds neat, but it seems like it would be easy for people to defraud others.
If they're going to compare it to eBay, think of it this way... What would eBay be like if the buyer didn't have to pay until they received their item.
March 8th, 2006, 08:49 PM #5
It's one of those things thats a great idea ... until unscrupulous fraudsters get started with it. When it comes to real money and payment programs, feedback will never replace a credit score.
One good thing about it though is that they've taken steps to attach payment/non-payment to credit scores.
March 9th, 2006, 06:36 AM #6
I like the idea but until I see that the system offers some solid security, like FDIC insurance, I wouldn't be convinced to be part of it.
But, I see a great potential if it works:
If I invest $5000 with emigrandirect.com at 4.25%, after 36 months I'd have: $5,664.98
If I lend this guy my $5000 at 12.50%, and invest the monthly payment I receive with emigrantdirect.com, after 36 months I'd have: $6,424.95
That's 114% better return than a conventional investment.
March 9th, 2006, 01:45 PM #7
- Join Date
- January 18th, 2005
- Southern hemisphere - away from Fukushima
If you have spare cash, I'd be converting it to Euros.
March 9th, 2006, 01:47 PM #8
interesting concept. Will follow it for a few months.
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