I have thought about the fluidDB idea some more, I think it would not be possible because anyone would be able to modify the data unverified, thus creating positive feedback, removing negative feedback etc. It needs to be only trusted sources who have access to only limited data-sets which they are allowed, for it to not be abused.

Here you do nothing other than cast accusations. On the other thread however, you made some more interesting points:


It is JUST an API. It is designed to build a layer of trust over a users transactions, like described on the site.
It's designed to allow app developers a central system for quick development in three ways, 1) they can use the API and develop quick apps off that data and API, 2) they can launch quickly with an established user base of offers by sellers and push their users / offers to them buyers. 3) it provides the missing layer of trust between unknown anonymous parties who would like to possibly transact but without any form of past history see each other as in your words

You're quote:

Sounds like you're a little paranoid and given the state of affairs within the governments, legal systems etc. you are more than rightly aware of the issues. But decentralizing everything is not possible IMO. Building an API based on data means it will have to live in a server somewhere to operate, you cant build a database on bit torrent.  And yes I am a developer in answer to this: ...

The best one could do would be to use an open database such as fluidDB see here : http://techcrunch.com/2010/05/24/fluiddb-aims-to-become-the-wikipedia-of-databases/

This is an idea I will investigate as it could well be the closest we can get to openness for an API which works on a database operation like we're discussing here. However, what concerns me slightly is by opening up the data totally, could really expose traders and loose some of the anonymity which would be attractive in some places to be designed in. I will think more about this.

As regards development, I'm here to discuss this in an open way. Happy to take constructive feedback and take on board and hopefully address any concerns and adapt accordingly. I believe in getting as much feedback as possible while in development and hence why I have put this out there, instead of waiting till we had what we thought was "IT" then launched and then learned later that we had in some way gone in the wrong direction.

HI, I will go and reply also on redit.

And to continue to answer your points and others concerns/criticisms let me know here and I would be happy to provide clarification.

At the outset I will give some of my credentials in this space so others are aware of where I'm coming from. I am a system admin, well versed in SQL optimization, scaling of large scale products and I have spent the last few years doing PCI compliance for small businesses who needed to comply for merchant accounts. I Know only too well of the hassles and frustrations legitimate small businesses go through to verify their creditability before they are granted almost unlimited access to others accounts. I Understand full well the reasoning behind and the security issues facing merchant banks and visa and MasterCard given the large scale potential for fraud within their system. That said it is an antiquated system developed long before the internet was ever envisaged and as a result the plaster bandage solutions which are implemented (PCI Compliance for one) are generally too great an obstacle for most small enterprises. I see Bitcoin as one of the first real innovations designed with the Internet in mind for online payments and have no hesitation in backing this with investment and development hours. Not least in developing concepts which I believe will enhance the ecosystem and bring a much needed element of trust into a system which currently lacks any sort of disclosure between unknown traders.  My investors page specifically called out not for investment dollars but rather biz dev people who would be able to assist in bringing legitimacy to the venture.

I found this thread criticizing everything they could about bittrust.org. Disclaimer I am behind it. As regards innovation people have short attention spans, first they ridicule the concept, then as it gains traction suggest it's dangerous, then they copy it and claim it was nothing special while their version is the best on the market. That's competition and I know it well, but I also know a good idea when i see it, Bitcoin is a bloody good idea despite the current market turbulence and the solution and system I am developing for it is also a bloody good idea. Further disclaimer I didn't waste more than 1 hour on the initial landing pages so those who have criticized them may well have a point, but trust is earned over time not and not lost by a few naysayers who are more than likely wished they hadn't the foresight to build the concept themselves.