Hey all, we recently announced that we now offer insurance on approximately 50% of all bitcoin deposits (free of charge) to Coinsetter and are looking for some feedback on the program.

Please feel free to let us know your thoughts; the opinion of the community is huge when it comes to decision making in the Coinsetter office.

You can read more about the insurance program on our blog here: http://www.coinsetter.com/blog/2014/07/01/coinsetter-bitcoins-now-protected-insured-xapo-vault/

Thanks in advance!

Josiah Hernandez
Business Development | Coinsetter

Coinsetter is doing some research in regards to what bitcoiners are truly looking for what it comes to a BTC/fiat exchange. After all, we can sit around in a room and theorize all we want to--and can even look internally at what we want as bitcoiners ourselves--but at the end of the day it's you guys (and girls) that we want on our platform... Why not get the information we need straight, from the source?

Your responses are going to help guide the development of our platform moving forward, so please, feel free to speak your mind!

I posted this on reddit the other day, but I realized you guys would probably be a better crowd to share this with.

99% of payment for product or service is sent in Bitcoin by buyer to a smart address (escrow address that is supported by the network). 0.05% is sent to the smart address as well by the merchant or provider of service. When the product is delivered or the service is serviced, the buyer sends the last 1% and the merchant/service provider sends another 0.05%.

Since both the buyer and seller sent coins before the physical transaction occurred (and signed by each party's private keys), the smart address "knows" where to send the coins after all four deposits have been received (to the seller).

The address would also include a functionality which would would release the coins back to the buyer after a certain amount of time lapses before the post-transaction 1% is sent by the buyer.

I understand there is a lot of work before such addresses can actually be implemented, but I thought I might as well throw the idea out there.

For those not aware of our public innovation initiative, we discuss it in detail at http://blog.coinsetter.com/2014/02/28/coinsetters-initiative-create-public-transparency-protocol/. We are asking you, the community, to contribute ideas and outright implementations for a proof-of-solvency protocol that will be used at Coinsetter. We look forward to hearing your ideas, suggestions and implementations!

We ask all posts go to our Reddit discussion at http://www.reddit.com/r/Bitcoin/comments/1z6z9t/join_coinsetters_initiative_to_create_a_public/ for the sake of organization, but feel more than free to discuss here as well. I'll be constantly checking back in!