Bitcoin Forum

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Hi there
I would like to share with you some new product of mine, It’s a Bitcoin ranking engine,
You can think about it as a "Credit Scoring" for the Blockchain.
You probably familiar with Standard & Poors or Moodys (AKA gives AAA to Merrill Lynch and Goldman Sachs at 2008… just saw the Big Short  :D )
But as we know, there is no "Credit" in Bitcoin, so what we are ranking here is the transactions behavior of the Bitcoin "entity" , it could be an individual person or a Bitcoin company, but all of their transactions are recorded on the Blockchain, we just need to be wise enough to understand how to summarize this information into something useful.
It's very ambitious, but with a lot of research we can do it possible.

Take a look here : https://Riders.io (https://Riders.io)  

Riders is an analytical tool for the Blockchain , The main objectives of this product are :
1.   Recommend whether you should or should not make business with that Bitcoin entity . (Based on his Blockchain history...)
2.   To Identify the address owner. (We need to understand if the address is a part of "Tree" or its just and individual that plays Satoshi Dice…)
3.   And of course, ease of use, everyone should use it, its not an analytical platform , all the hard stuff should stay in the back…

Here you can see those similar products I played with :
https://bitiodine.net/
https://www.blockseer.com/
https://www.scorechain.com/
https://www.blockonomics.co/


I would love to here what you think, or some questions about how it works if you have!
Thanks – Itsik Levy

Website doesn't open

Sorry, for now its works here - http://rriders.herokuapp.com/
I am working on domain integration right now...

Clicked on the rank it button. Didn't do anything, kept processing for a lot time.

I understand what you are trying to do. Few things here

• It is possible to do blockchain analytics like blockseer and trying to track coins paths. You should also see http://sabr.io/. They are very secretive, and we don't how accurate their results are / their business model
• Quote
  Recommend whether you should or should not make business with that Bitcoin entity . (Based on his Blockchain history...)
  This is something that is very difficult to do and I there is already lot of controversy around this. Sometimes you can get tained coins through mixer, but that doesn't make you a criminal. You should look at https://bitcointalk.org/index.php?topic=978088.0 . Chainlysis got lot of flak from bitcoin community for this

You have hosted a ranking tool on a heroku app? Buy a hosting man.How exactly are you ranking the pages.As far as I know ,the Blackhattools are not yet sufficient enough to do the crawling unless you have a good crawler designed using Pearl.The project would have been nice if it actually worked.

Hi,
Analyzing the users habits on the Blockchain going to be very hard,but as long as the Blockchain is open for everyone it should be a realistic approach, lots of researchers working on that field..
In terms of what the "community" likes or not, its the same as every open market rules ,as long as it will bring value to the users they will us it even if it hurts their privacy I think.


# Patatas
I have a domain, Riders.io, I am just waiting for the DNS confirmations... and whats wrong with Heroku?  I think they are just great for my needs right now.
And for the technical details, I am query the Blockchain in real time with the help of 6 API's, and compare the data with a formula I built, the score you will see is the results of my formula that checks the "good" and "bad" behaviors that I already configured with the new data I bring from the API's..
The results is still far from being perfect but I am working on it...

Please guys check my site with some randomly addresses and not just with the Top ranks,Those are quite heavy , I need to optimized my server for those, On local its works great.. (Its not really help I know...).  just grab some live transactions from Blockchain.info and check it..

Thanks!

i just added  adress 1GNAoUiz7q8kivzdjsaFBmQMhSCY8EoEe6 when click rank it got Server Error (500)

My address (168WXhArv7Fasqvi2xm5MQMfLhG18jifMe) is an 8.26.  Will it automatically be put in the top ranks?

Hi, that's because your address don't appears on the Blockchain, only addresses that confirmed on the Blokchain can be ranked.


Well that's very impressive my friend, really..
I didn't automate the Top ranks feature yet, so I edit the ranks manually once in a week,
But since I have two SatoshiDice addresses there, I think I can add yours too. ;)

Ouch.  You listed my address as NastyFans.  That's my personal bitcoin address. 

The NastyFans address is: 1NastyFRkeUTmMdbMmzggDVTQA6r3ibUoX

The NastyMining address is: 1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ

Well the engine found it as "OgNasty", but I thought it belongs to the NastyFans club so I changed it, now its ok...

Thanks.  Very funny to see my personal address on that list.

Nice idea.
There's a bug here :

After getting the rank of your address, the user is sent to http://rriders.herokuapp.com/project/   webpage. The input box located at the top of this page does not work . Please fix this.

Great idea here and the original website https://riders.io now works but if i may ask what do i stand to gain by ranking my bitcoin address.

Thanks, There is still a lot of bugs and I am working on fixing them, it's just the first release.. also the color of the score should be changed if the score is good/bad, like green or red..


Actually the main propose here is that customers should gain something from your score, if you are some entity that runs on the Blockchain, people should check your history to know that you are a reliable person/company. same as the credit score that Ratings Agencies sell to companies or people that want to know what is the risk of dealing with some other companies or even countries..
If you are a "reliable " company you can gain lot of good reputation and positive advertising from Riders rank.

Do you offer an API to lookup btc address?

How do you calculate value of a wallet?

Im thinking on:

• Older Wallets are more trustworthy
• Big Number of transactions over 1usd
• Transactions over 1BTC
• Healthy use, not send/receive all money to same address but be used to buy/sell to several

Would a report this wallet feature for known scammers help?

Indeed those are some of the variables that make effect on the score, when I checked it I found almost 20 static parameters that I am going to calculate into the final rank,
We can find a lot of data between transactions, each address can give us lots of inputs about where the money goes, and from there it's a dynamic data we need to consider.
I will provide an API in the next couple of months , working on it.
It will contain a direct access for the Ranks and another separate channel for an AML+Identity maybe.

If there is a way to find scammers easily, that would help the whole bitcoin community. Good project though.

Some nice updates here from the press:
http://themerkle.com/riders-uses-blockchain-analysis-to-issue-bitcoin-address-ratings/

And a Facebook page just open with updates:
https://www.facebook.com/Riders.io

Update
The first academic reference I found about the Blockchain-credit risk field:
Professor Hans Byström, from the Department of Economics in Lund University at Sweeden -
Credit Risk Modeling and Blockchains.
http://project.nek.lu.se/publications/workpap/papers/wp16_4.pdf

Update
New - Riders Manual, It will help you understand the ranks in a better way:
https://riders.io/project/manual/

Interesting research about The Evolution of the Bitcoin Economy:
Extracting and Analyzing the Blockchain:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2808762