Bitcoin Forum

Hi guys!,

Bitcoin has been criticized about its lack of regulatory system and trust was questionable when making Bitcoin transactions.

In answer to this issue, Bitcoin startup Bitrated provides consumer protection and fraud prevention mechanisms for Bitcoin (https://www.bitcoineverything.net/bitrated-trust-platform-bringing-trust-back-to-bitcoin/). It added a trust layer on top of the blockchain technology.

How do you see Bitrated for Bitcoin? Please let us know your thoughts about it. :)

I also believe this is Bitcoin's answer to altcoins who offer more security and regulation features. With Bitrated, for me, Bitcoin is still the best cryptocurrency in the world. :)

With or without Bitrated, Bitcoin is by far the best cryptocurrency.
On topic, I used Bitrated's automated escrow a few days ago for the first time, and I am very satisfied with their service, I recommend this site to everyone, and there is no doubt that I will use it again for my future deals.

i keep seeing this from Mrai trading  thread and now i wanted to learn more about it, might help me to trade not only Mrai but more coins
and with the concept it will help both parties not being a victim of possible scam so its nice just needed to be more familiarize and for
sure it is helpful service.

I heard about the service months ago, I made an account but never used it due to lack in the userbase. I personally don't think that most of the community will use it even If they need an escrow because everyone became paranoid about third party services and prefer to use escrows from the forum instead.

Yes you are right, trusting third party will be always risky and escrows here in the forum can handle large amount of bitcoin transactions also so personally i prefer to use escrow service from trusted forum member.

I have't heard about bitrated before, explored few pages including faq to find out what actually bitrated is for. Sound interesting but i don't think many know about them so they seems to have very low userbase.

There is no trust to bring back to bitcoin because it never happened that I lost trust with bitcoin, and in fact I always have benefitted with bitcoin sustainable income which I used in my family. If you will ask me about the ratings that I will give to bitcoin I am very confident to say, I do give a 100 percent trust rating. We should be thankfull of this opportunity given us through bitcoin for several days passed by that we experienced good price of btc exchange.

So basically it is an providing escrow kind of thing ? But I read they are dealing with trust chain of users like user-1 trusts user-2 and user-2 trusts user-3 hence user-1 can trust user-3. I am not sure how they will be implementing as I do this is complete controversial system because as per bitcoin's core concept it was build to have a complete 'trust-less' world.

Adding a layer based on others trust might get broken at any point as human might change time to time.

One of the most frightening thing will be during dispute in trade. The escrow can make some agreement with the seller/buyer and can easily cheat the one party without being noticed by others.
https://www.bitrated.com/faq

Yeah, this is hard. Look at what happens in places like eBay. Someone sells a computer/laptop and puts bricks in the box to make it about the weight of the real item. When the receiver gets it, how can one prove they were the ones scammed?

Absolutely right! Also, thank you for sharing your experience with Bitrated. The service is definitely helpful and satisfying as to our experience as well. :)

I like the reputation system idea behind the marketplace. But I dislike the part where it needs to get your social media information. Those can be faked and it can be used to cheat the system.

I wish there was the same type idea but with a decentralized network working under it. Does Open Bazaar have an effective reputation system? 

Heard of it but never really had a use to try out their service for myself.
So they don't work like a bitcoin market place but is a escrow service when buying digital goods and some physical one too?

i'm not so familiar with it but i was able to use it because i needed to sell my mrai and its really working just needed to make sure that the escrow is trustworthy to avoid being scam i use Hostfat as automatic escrow and made the trade successfully aside from mrai trade don't have time yet to explore more about bitrated services offer.

Do they only do alt coins or you can use their escrow service for anything you want?
How does the escrow know the seller actually has the item being sold?
It is quite confusing when an escrow is used with selling goods especially physical ones unless the seller is sending it them directly and they are sending it to you instead of the seller sending it to you and waiting until received then escrow releasing the funds held when the buyer confirms everything is ok to do so.

It is a good service. You should try soon and let us know your experience here. :)

I guess they are just all the same. Bitrated and other escrow services have the "third party" who goes in between the buyer and the seller. However, it all depends on your experiences. If you are good with the escrow services in the forum, why go anywhere else. :)

Bitrated implements online reputation management system which is somehow the same with the forum. Arbiters need to maintain good reputation for them to be trusted. :)

Making transactions with Bitcoin may be one thing where other people loose their trust to the cryptocurrency. Bitrated and other escrow services help prevent and minimize the cases of fraud and things alike. :)

Seems to me they're doing Paypal-like work. I've read a bit about their reputation system, but how do they protect the platform from rep manipulators? I can't find an in-depth explanation about that.

If you have visited their website, they have a video on the front page that explains how they do it. So let us say, if you bought a camera online from a merchant using Bitcoin and the merchant did not deliver your order, what is your recourse?

The offers a reputation system where merchants can build reputation. If many customers give them a good rating then other customers will find them trustworthy. :)

The reputation system could indeed help finding trustworthy people however It won't prevent scams. It's no secret that people are now building trust in the forums and other sites just to scam big at the end of the day. An escrow can't know for sure If the seller actually scammed or the buyer actually didn't receive the ordered items In that case.

I've used Bitrated and I can help as a mediator.
This is my profile if anyone need it.
https://www.bitrated.com/miguelmorales85

I made a thread like two months ago but no one was able to help, anyone here know how to contact Bitrated and get a fast reply? I've sent two emails already but no reply for months, I'm almost sure that I have seen a member here who is affiliated with them but I can no longer find him.

I wonder if anyone here does actually uses this escrow system. I used a couple of times and it worked like a charm. you just have to find a escrow agent.

If you need me, look for miguelmorales85  :)

Many people that can't find escrow from the forum have talked of   this service several times but just how effective is their buyer protection in the case of not getting what was described, maybe some reviews of this service from the community would be highly appreciated, as this gives us a general overview about bitrated

I have never used the service but are their privacy protection terms in place, incase of a breach, seeing other users can be used as an escrow

- The website linked doesn't work. Try putting the absolute URL in the post.

- The fact that there is a startup to interfere in an open source protocol sounds centralized as hell. No one cares about the good or bad the service has to offer provided they're going to control the free audience.

- Not saying people shouldn't agree with whatever they're doing but I personally won't take the venture seriously.