'Harmoney' Peer to Peer Lending

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  1. Post
    Has anybody here ever needed help from them?
    My final RAR was about 9.8%.

  2. Post
    The worst part of it is they actually set up as a peer to peer lending platform, not just another loan shark...
    Last edited by mac-one-oh; 13th February 2020 at 5:06 pm.

  3. Post
    stacrafty wrote:
    Glory days of a consistent 12.5% are over
    It's not really that much compared to some of the ETFs and Property Funds out there.


  4. Post
    Necriss wrote:
    It's not really that much compared to some of the ETFs and Property Funds out there.

    Well yeah... but when I dumped money into harmoney i was much more sure it would do 12% than the markets.

    3 years ago a lot of people where saying the markets would turn... but they havent which is good cause I'm there too

  5. Post
    Hmm, that's a big shiny f**k you from Harmoney to the entire concept of genuine peer to peer lending.

    Note to self, might be worth keeping an eye on the people who set up Harmoney, and then did this shift, and put them on to the cnuts list.

  6. Post
    Seemed pretty obvious from day one that the retail lenders were an easy way to bankroll what is a fairly typical finance business.

  7. Post
    I guess everything is pretty obvious after the fact. Five years, a good run while it lasted if you were in.

  8. Post
    Sure, but there's also foresight, I was saying exactly this in this thread years ago.

  9. Post
    AnotherLeon wrote:
    Hmm, that's a big shiny f**k you from Harmoney to the entire concept of genuine peer to peer lending.

    Note to self, might be worth keeping an eye on the people who set up Harmoney, and then did this shift, and put them on to the cnuts list.
    Theres also the reality of serving ~ 10,000 retail customers who have balances as low as $50...

    But I agree their whole gimmick, marketing, idea etc was they where going to be peer to peer lending.

    If they could have a minimum balance or something. $10k. Find a compromise rather than give retail investors the boot altogether.

  10. Post
    I guess there's still the competitors in the market.

    or we get together and start GPl04nZ 2020 limited?

  11. Post
    stacrafty wrote:
    Theres also the reality of serving ~ 10,000 retail customers who have balances as low as $50...

    But I agree their whole gimmick, marketing, idea etc was they where going to be peer to peer lending.

    If they could have a minimum balance or something. $10k. Find a compromise rather than give retail investors the boot altogether.
    The peer to peer was BS marketing, it's clearly just another finance company and their ledger will be looking pretty healthy thanks to retail investors.

    Business lesson number one, get someone else to pay for what you're doing.

  12. Post
    Ah well, it was fun while it lasted. Got some alright returns playing in the high risk area and got pretty lucky. And yeah bit of a shit move but I'm honestly not surprised.


  13. Post
    Have you guys looked into using Squirrel?

  14. Post
    BigLoudRoar wrote:
    Have you guys looked into using Squirrel?
    Not yet.

    But will do asap

  15. Post
    BigLoudRoar wrote:
    Have you guys looked into using Squirrel?
    The rates are pretty low


  16. Post
    BigLoudRoar wrote:
    Have you guys looked into using Squirrel?
    Yes I'm using them as well! I guess a horde of investors are going to flock there.

  17. Post
    The appeal of Harmoney was the higher rates. I don't see the point if rates are that low. May as well look into other investment options, i'm, sure the time spent doing that will be worthwhile. Perhaps fine if you don't plan to have any mortgage during the loan term and don't want to look at other investment options.

  18. Post
    Its still higher than term deposits and historically (from the US at least) is somewhat recession resistant, so could be a good place for a % of your portfolio.

    Might park some money there.

  19. Post
    if you dont mind a little risk, bitcoin exchanges offer decent ROI for lending USD/EUR/JPY etc usually when I'm not in a position I'll get 8-30% p/a for 2 day, 5 day funding.

    sell the shovels kinda thing, but there's a bit of friction getting in and out of the ecosystem

    GBP is 0.081954%/daily @ last (29.9% p.a)
    USD is 0.075672%/daily @ last (27.6% p.a)

    exchanges take 15% (profit) and there's some exposure to liquidation

  20. Post
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  21. Post
    Timmi wrote:
    if you dont mind a little risk, bitcoin exchanges offer decent ROI for lending USD/EUR/JPY etc usually when I'm not in a position I'll get 8-30% p/a for 2 day, 5 day funding.

    sell the shovels kinda thing, but there's a bit of friction getting in and out of the ecosystem

    GBP is 0.081954%/daily @ last (29.9% p.a)
    USD is 0.075672%/daily @ last (27.6% p.a)

    exchanges take 15% (profit) and there's some exposure to liquidation
    Sounds interesting, want to share a bit more about how to go about doing this?

  22. Post
    get money on an exchange, then you can put it into funding, bitfinex does it, you need proper high level verification to deposit/wire fiat directly onto an exchange, otherwise a faster option with less verification is to sell bitcoin onto an exchange which gives you FIAT and then you can lend it out.

    exchanges have been hacked before though, so there is risk associated with doing it, but usually if I'm out of the market I'll try and put it into funding.

  23. Post
    Harmoney no longer accepting P2P lending from April

  24. Post
    Analgia wrote:
    Harmoney no longer accepting P2P lending from April
    kinda good timing I want out of harmoney... as could potentially see default rates increase and also could use the money to buy in the dip