|
I have an idea for a persistent web (browser) MMORPG that would use bitcoins as it's economy. I have a lot of ideas about it, and I'm going to be the programmer, but I can't draw.
If you would like to get more details and work together (in return for a profit share), PM me! I'm going to lock this thread as I don't check here.
|
|
|
|
|
This is why you should probably accept escrow.
|
|
|
|
Update:
The scammer's credit card company decided to side with him, so the conclusion of this story is that Corbin Chandler effectively robbed me of $580.
Yes. You will have to take legal action if you want it back. |
|
|
|
Does this have anything to do with your sig?  No, I'm completely unaffiliated with bitzino, I just advertise it in my sig  |
|
|
|
You state that you keep 30% of the profits as a fee, do you also share in 30% of the losses if several borrowers suddenly default? Can we expect a negative rate of return (loss of principal) when/if borrowers default, or are you guaranteeing the principal even if you have to cover losses with your own money?
Will depositors be allowed to withdraw any/all of their balance so long as there is enough in the reserve to cover the withdrawal, or will you postpone withdrawals when the reserves fall below a particular level?
Great questions! 1. No, I am not obligated* to cover 30% of the losses. When you buy stocks and pay the brokerage fee, does your broker cover your losses when your stocks lose value? *I pay fully for mistakes I make - eg sending to the wrong address, negligence in checking when offering loans, etc. However, I do have significant reasons for me to do my best to ensure that losses are minimized - confidence will be lost, which means less deposits & less fees for me. In addition, I am directly impacted by the loss as I currently have 10BTC in an account. 2. Yes. This isn't what you'll traditionally find on this board where someone opaquely offers X% a week, doesn't give you details on exactly how your coins are spent, and probably crashes / defaults within 180-360 days. Because the rates are variable, there wouldn't be a situation where I am offering higher interest than what I can afford. This makes it more stable compared to constant offerings Example: Let's say you deposit coins into X's bank at 2% weekly. X needs to get greater than 2% returns to make a profit. X is encouraged to have as few coins sitting idle as possible and give out loans with low criteria. 3. Depositors can withdraw their balance (which actually exists in the system, by the way - this is a verifiable non-ponzi, your interest is directly from the loans issued) when there is reserve to cover the withdraw. When reserves reach 0, I'm committed to paying people instead of getting more loans, but you may have to wait until reserves mature. Tip: Let me know ahead of time and you shouldn't have difficulties. Anyway, you will be still getting interest in your account. I'm confident that over a long period of time, this bank will offer the high interest rates with the lowest risk. What if you absolutely need stable X%/week interest, bond style (despite that if you average out over some time you'll get that much?) People can offer passthroughs to my depositing service, where they take on the week to week variance. |
|
|
|
I don't spam anything, I just bump my thread.
I don't see your problem, there are no such rules to limit the bumping, I can bump my threads every 5 minutes if I want to.
I see no problem in that, if you think this is a huge problem let me know.
Talking is easy, donating is not so easy. I donated 10 BTC which is 130$. If I was a bad guy do you think I would donate that much?
Did you donate 10 BTC ? Would you donate 10 BTC like I did? I can't imagine you doing it. So please, cut the crap, and let me be, I didn't do anything wrong to you. Actually if you were my customer I'd treat you with utmost respect and provide you awesome prices.
I understand your frustration but please understand I am not doing anything wrong.
Have a great day and sorry if you feel like I offended you. I did not intend to offend you but I had to answer to your reply and why you feel like I just did something so wrong.
Yeah, I'm not a moderator, and I'm not trying to be one. But please take a look at this post by a moderator: https://bitcointalk.org/index.php?topic=131889.msg1416908#msg1416908 |
|
|
|
I think your service would be a valuable one, provided that you are at least 30% better at choosing borrowers than your customers are. Do you have anything that may convince me/us of that and would you be willing to GPG sign a contract with the above terms with your OTC GPG key (with your real identity would be better, but I have no clue how to get that done... anyone?)
Hi Gerco, thanks for your reply. When I look at if I should give a loan to someone, I consider various factors such as: * Is it worth it for them to default on the loan? Would the gain be bigger than the consequences? * Are they able to pay the loan back? Do they have a job, mining / other income, items to sell? * Are they able to purchase the bitcoins to pay the loan back? Is this their first time buying bitcoins? * Are they reluctant to give out personal info? Are they happy to give out passport scans freely (indicating that it might be a stolen identity)? What's the metadata behind those photos? More importantly however, look at intent behind the borrowers. What's their forum posting history? Do they post in specific threads in the Securities section? If yes, they probably own shares of that stock. Have they made successful trades selling or buying goods before? Are they borrowing the bitcoins to make a quick cash or are they actually going to use the loan for the intended purpose?I also look at number of things when deciding to give someone another loan or not. One thing is simply looking at how they paid me back by looking at the blockchain. There are a lot others, like looking at their posting history and see if they're only active when they seek out new loans. Hopefully after reading this you have a bigger insight into the thought process of when I give out loans. It's not everything, and I'm not saying this This service also provides a number of other advantages on top of what you mentioned: 1. Reduced variance. 2. Wallet security (2 factor auth, secure wallet backups) 3. Adjusting market-based interest rates. 4. Better loans - the economics of scale. 5. The time investment - no need to spend time looking for & checking borrowers, that's my job. Regarding my identity: I ask for ID documents to borrowers, privately, and I am happy to disclose my identity to depositors privately (assuming you're putting in a large amount, not 1 bitcoin). You can verify it with whois of my domains, etc. Any long term offer that doesn't do that is a hypocrite. Regardless, the spreadsheet is out for everyone to see. There's an actual business (offering loans) behind this, and it's easily verifiable that it's not a ponzi. EDIT: Just pasted the original post ("contract") onto pastebin: http://pastebin.com/mYVKwe0aSignature from the main address of 1N1HvopM4Q5Kedokq3nXyDEzxmWqe9GupE: G1LZJNixHqM/ss1XwJf+f0kI7mzU5vLqPEWjW9cyg2T8g1/7QVO4iYcK98BTq1JFlG9wpF/zdPLMEuVyaTf+YeM= |
|
|
|
|
I've just deposited 10 BTC in my own account. Note that there will be no preferential treatment - interest will be given to everyone equally. I've also lent 10 BTC to ThaddeusB, a Wikipedia administrator who has being user their account since 2008.
|
|
|
|
|
OP disappeared with their money?
|
|
|
|
|
Or MAYBE someone really likes you for your posts!
|
|
|
|
You should lose the association with The Venus Project. That link informs everyone of your prejudice regarding which videos will be curate and which will not.
Is VideoNeat association with The Venus Project or mine by my "TZM" mention in my signature ? I'm not part of the VideoNeat website team, just promoting them ! I think you are part of the VideoNeat team then. |
|
|
|
I think you are overestimating the number of people willing to spend 20% of their income for charity.
This is not 20%.. Most people in australia pay something like 35% in income taxes. |
|
|
|
Reserved. Some Infrequently Asked Questions1. What if you get into a car accident?Well, I wouldn't be very happy! If I die, poop. Currently I have evaluated the risks of giving access details to a friend / family member, but I feel there's the risk of them stealing the coins. So at the moment I'm the only one who has access, and if I'm unable to continue for some reason your coins are lost. Hopefully that doesn't happen If this gets large enough, maybe bitcointalk.org moderators would be willing to obtain and store blockchain.info passwords and pay out in case I don't sign in for a while, and I'll pay them a fee? Doesn't have to be moderators, just some VERY trustworthy community members. |
|
|
|
What's this?This is essentially a bank. I loan out your coins to other people on bitcointalk, on bitcoinjam, over irc, etc. I'll do my research on the borrowers, and the loans will be highly diversified. Want to deposit? Just skip down to the bottom of the post.Why deposit instead of loaning my coins out myself?1. You might not have enough coins to lend to someone who wants a lot. 2. Your loans offered won't be diversified enough if it is on the forum. Let's say there's a 1% chance that this trustworthy person is going to default, but you're going to loan to him anyway. Your first loan could result you in losing 100%. if you deposited it here, then everyone would have lost a tiny bit in interest earnings (but most likely will still watch their coins grow with interest). 3. You don't have to time to hunt for loans, before some other lender goes "Sent!". Time is money What's the interest rate?It's variable and depends on the interest rate I get! If the total amount deposited is 100BTC, and I lend out 30BTC @ 7% paid back and 60BTC @ 5% paid back (all weekly loans), then the weekly variable interest rate for depositors will be 3.1% (before fees). How do I know you're not going to run away with the coins?Well, I can't really run off! The majority of coins deposited will be lent out at any given time. A reserve is kept limbo for withdraws (hurr durr fractional reserve banking), some is kept so I can always offer new loans. I will publish a public spreadsheet log. What if you don't have enough coins to make a withdraw?You'd have to wait. Unless everyone I lent defaults, you'll still get your coins (+ interest for as long as it stays with me!), just perhaps a while later than when you made the withdraw if my "hot wallet" funds have run out and I need to wait for loans to mature. What if the loans you offer defaults?First of all, I'm not going to invest your coins in high risk lenders. I ask for photo + drivers license / id + address for most offers. I analyze each user's history, reputation and posting. I also have a few tricks up my sleeve. For example, take SynOps. I'm pretty confident that he's running a ponzi and is going to bail out with the coins, but I lent to him regardless. Wanna know why? Because he's seeking various loans on BTCJam that has being given coins above what I lent him. He's not going to default on my loan when I'll ruin his rep and prevent him from making out more if he paid me back. That's just one of the methods I employ. I also know a few trustworthy and reliable people that seeks longer term loans for businesses & etc. They generally have less interest than normal in the BTC world, but I trust them. Fees / What's the catch?The interest rate given to to depositors will be 70% of total (I take 30% for running this service. It's not that much honestly, better than having your coins sit and do nothing). This rate may be amended at any time, but you can always withdraw. I'll process withdraws weekly (the same time when I calculate interest, so if you want to withdraw all make sure to specify it otherwise you'd still have interest saved), for 0.1BTC (takes me time). If you want instant (as in as soon as I'm online, basically daily) withdraws, 1BTC fee or 1% whichever is higher. Instant withdraws may not be always available in the reserve. Spreadsheets?Here's the spreadsheet! https://docs.google.com/spreadsheet/ccc?key=0AnQyVAskGw8xdFREc2FLeWRNUFZ6bEhyNTRaMGlVMXcFeel free to audit it. But what about the Great Bank Collapse when pirateat40 crashed?Pretty much every single bank at that point held deposits in pirateat40, either directly or indirectly. Therefore, when the infamous ponzi collapsed, all the banks did too. Some are trying to make repayments, but this isn't a risk right now because pirateat40 is gone, and there is no major ponzis. I'm also going to do my best to make sure that I do not issue any loans that will be used in HYIPs / ponzis / gambling, etc. So how do I deposit?Send me a PM, and I'll send you an address. That address will be your deposit address, and if you want to deposit more coins just send it there AND PM me. So how do I withdraw?Send me a PM, and tell me how much. Interest is calculated at time of deposit, so don't expect to deposit coins 1 hour before the weekly payout interval and expect the full interest. When is interest calculatedEvery Sunday, Australian time. Interest is compounded weekly.
|
|
|
|
|
I assume you're going to pay out all the missed dividends on BTC-TC?
|
|
|
|
First off, I understand full well that I am new and therefore expect skepticism. If no one wants to lend to me, I am OK with that, but I figured I would give it a try... Reason for loan: I just learned about bitcoins a couple days ago and am very excited about the currency. I want to get started "wheeling and dealing" ASAP. I have started to dwolla->mtgox->bitcoins process, but I guess it will take 7 days or so. I will be depositing at least US$500 once my accounts are verified. I could get coins quickly with bitinstant, but their fee would be 3.5% or so, which is unacceptable to me. Thus I figured I'd give the forum a chance. Requested loan: I am thinking 10BTC should be enough to satiate my appetite for quick action. I will repay as soon as I get my cash deposit approved and converted to bitcoins. I estimate this will take 7 days, but would like the loan term to be 14 days in case there are any delays. I will offer 2% interest for the service. I will consider a smaller amount, if necessary. If I don't get the loan within 2-3 days, I will simply wait for my funds to become usable Why you should consider this loan: I am a long time lender on sbrforum.com (under the same username as here), so I understand newbie loans are usually high risk. I have 60,000+ points there, which are worth rough 7¢ each. ( http://store.sbrforum.com/points/log/ThaddeusB + http://forum.sbrforum.com/feeds/ads/keys/bookPoints.php?subdomain=ThaddeusB to verify) I am an administrator on Wikipedia, which implies community trust. I am also willing to provide via PM whichever of these things a potential lender finds relevant: *Scan of ID *Proof of address (scan of bill) *I am a semi-professional gambler (by which I mean, I make money at it, but it is not my sole source of income), and can provide screen-shots of a couple account balances showing $50,000 of funds online. [Or can load balance to a poker table as demonstration.] *A signed promissory note Will also consider any other verification requested. Thanks for your consideration, Thaddeus Please show me proof that you are an administrator on Wikipedia and I'll be happy to lend you 10 btc straight out, at the interest rate of 2% / week (depending on how long it takes for you to pay it off). PM if interested. |
|
|
|
|
I wonder what MPOE-PR will talk about when INTERPOL arrests the people behind MPEX.
|
|
|
|
Evidence 5: Matthewh3's excuse
So I either piss you off horserider by making you wait. Or could possibly leave the company bankrupt if the ASIC's were fake. I don't personally have that kind of money to buy them personally. If I did I would have had no need for RSM as I could of just bought my own hardware.
I'm thinking now of listing everyone's shares on btc.co (to ease dividend payments) with the intention of buying them all back with my dividends.
How is this different from when Ian Bakewell broke a signed contract with CPA? In my case, we had a public contract and Ian publicly lied to me, threatened to lie about me in PMs (on record, theymos or other mods can see), lied about his company's finances, and so forth. In your situation it appears that you only had a verbal contract and that Matthew just wants a little time until the ASICs arrive. This is completely reasonable since you should know he would invest it in mining hardware, having run RSM, right? It is completely fair that you, as owner of RSM shares, now must acquire the liabiliy of waiting for the ASICs to arrive. Asking Matthew to buy you out personally for a business investment you made and now want to get out of is probably unfair. I don't think he is a scammer, I think you should calm down. Wait a few weeks.Why isn't it reasonable? You also quote him yourself; "If you don't like our plans to make bitcoin then we are offering to buyback anyones shares for BTC0.41 each first come first served." Emphasis mine. He didn't offer to buy YOUR shares, he made a general offer with a clearly stated limitation. I am sickened by your call for a scammer tag for Matthew on such a weak case when very clear and obvious scam issues like Ian Bakewell vs. CPA have been blatantly ignored. Additionally Ian has been causing trouble forme in other areas. He's left some very nasty comments on my BTCT.CO application. I don't think this scam accusation does not have it's merits. I strongly believe that Ian should get a scammer tag, but I don't think other people's scammer threads are the good place to post this. |
|
|
|
PLEASE DO NOT INSTALL TAPATALK It's so FRIGGING annoying. No. Please kill tapatalk with a nuclear bomb. Or a source code hack. I don't care   |
|
|
|
|
Show Posts
