Well, a WoT for me is a thing that allows to build up a pseudonym that still can be trusted. If some "Giszmo" made transactions to the benefit of 50 counterparts, it is very likely he will not run with some $200. If he acted to the benefit of 5000 people, most likely running with $10000 wouldn't be worth the pain loosing the great standing in this big community.

But … I'm Giszmo=Leo Wandersleb with a registered business, zillions of ways to contact me etc. If I want to get to the point where people give me $10000, going through the OTC and *trade* is pointless. I don't trade, I write software and OTC is a trading platform so I will mostly find traders there and changing 1.01Ƀ for 1Ƀ to gain ratings is kind of stupid and mostly done be scammers, don't you think so?

if tosaki isn't answering at all, he and his service deserve to get some heat. it's a free market and as you can see in my sig i still consider his the best option but i'm happy to jump on any competition that raises above his currently poor reputation. if he speaks up and deals with his customers, he deserves all the fame for his great service. if he disappears leaving the server to rot, i hope for competition.

I just lost 10% on selling gold and wonder if it wouldn't make sense to not only use localbitcoins to advertise Ƀ <-> Fiat exchanges but also all kind of gold/FiatFiat/… exchanges.

Given you really try to earn on the transaction volume this might not be what you want but first it could get gold bugs to bitcoin and second it could turn out to be monetizable just as well.

I consider much buzz here on the forums as some pump and dump. People try to make other people believe the story of Mega being for bitcoin only or at least to speculate on a 20% probability of this being the case while nobody of those pushing these rumors really ever thought this might be the case.

Hi Rassah,

I disagree on some points:

No.
premiums paid = claims collected + savings + salaries + bonuses (+ …)

The judges money is limited as per my OP. The judges decisions become public record, so you could allow others to send help messages for an ongoing case. Payout could be delayed by 3 days during which people curious about these public anyway cases may through in further random judges (at the expense of a $500 help message).

Yep. Therefore judges may hire such adjusters or not. Adjusters cost money. Sometimes a less than 100% fair process is better for almost all participants. As nobody has to use this insurance, fairness is a selling point and no absolute necessity.

These 5 judges would get compensations. If you think $100 pp is the wrong number to get started (they may decide on getting more from the public pool. The $500 is just the guy in trouble's money) pick a better number.
I don't buy insurances to not have any trouble at all but to not get into trouble that ruins me for life or even costs my life cause the surgery was too expensive.

Finally I know it does not work yet cause it's not thought through enough and of course not implemented yet. That was the purpose of this thread. Throw in ideas to solve the issues that you see or bring up real issues that stop this from working. I stick with the claim that a fire insurance with a totally public claim process would actually work.

No. Never traded via OTC. But my real life identity is verifiable easily I guess. Would you still consider it worth getting an OTC rating?
Most people I sold coins to were first-timers without OTC so I guess I would maybe get some 3 ratings there quickly if those 3 with an account there react when I mail them now. I bought my coins at Gox.

As I said it might work for some insurances better than for others. An insurance company will not only keep records of individual customers but also of people that write expert testimonies for or against the insurance and you wouldn't want all that material to turn into public knowledge in a block chain although … I guess if I ever want to have a fire insurance for my house I will not have an issue with all evidence on my house being my house, my insurance rates being paid and my house actually having burnt down to go public if in turn I get a fair, cheap insurance.

Health insurance is more complicated but that's why I picked fire in my original example.


Bear with me but I'm no hard-core libertarian yet. What is Agorism?? It doesn't exist in my dictionary and the Wikipedia Article has no German translation neither. Reading the English version now …

Hmm ... thanx. I will look into it. Looks interesting but low traffic.

Insurance companies make a lot of money.  I thought about how bitcoin could help to make p2p insurances and this is what I came up with so far:

First of all I guess it makes sense to do insurances in Bitcoin for people that believe in Bitcoin becoming more valuable but likely no insurance would promise to cover $$ damage while holding 100% in Ƀ. Also my goal is to make insurance companies obsolete. First those that have low insurance fraud rates, later others.

Imagine a fire insurance contract like a normal insurance contract. People pay towards this contract on a regular basis after providing a hash of the "filled out registration form" (download the form, fill it out, save it as pdf, maybe zip it with some photos and videos of your nice house, hash it) and an email address.

People can now contact "their insurance" via its (merge-mined) block chain. If my house burns I send a help-message (which costs $500) to this p2p-insurance via its block chain. Based on some randomness (the hash of the block containing the call for help), other 5 members get elected (emails get sorted by hash(block-hash + email address) and may notify to look into the case. Every hour the next in the list may notify until 5 notified to look into the case for $100 of compensations) to respond my call for help. I may provide all the documentation needed, so first of all I will send them my filled out registration form and proof of damage. They also get my e-mail address to ask further questions. They may eventually hire people to do investigations.

Finally these 5 decide on how many Ƀ will go towards me and each of them to cover their work and investigations necessary to verify my claim.

Each party may escalate the case to demand correction (help calls cost $500).
Each "judge" may only get a maximum of $x (percentage of the insured sum) for expenses made.
In any case any future call for help will also provide all the track record of prior cases to the new members involved.
The help call fees (for the judges) and the money decided on for all the parties only gets paid out if 70% of the judges (if more help calls are done, they become more) agree on the final resolution. Payout would work through contracts. In the Bitcoin blockchain a payout from the insurance wallet would occur based on insurance blockchain data (I'm slightly stuck on that part).

I would like to know what you think of this idea and what you think how anonymity and scam-resistance could be provided as I strongly believe this could be a very fair insurance. Typical fraud with fire insurances would be to burn my house after insuring it with several insurances. Our bitcoin insurance would have the problem that I could even run 10 contracts and resolve all ten in parallel as long as there is no central authority matching incidences and there are enough members that an overlap of judges won't occur but I'm sure either other insurances that are easier to identify could work that way or some of you has a good idea to tackle this concern.

Since when does the FBI provide any service to the mentally impaired? (aka please stop acting too stupid)

Not checking your facts I agree you should be cautious. If you want to buy silver at almost no risk, buy my silver. It's auctions starting at 1€ for stuff that has metal worth of far more. I was forced to use escrow so youI might loose your 1€ to the site owner but at least then we know he's the scammer

… links below.

I would like to buy a raspberry pi for bitcoins

Still the first experience for the user is that he can't do anything with the address book. I could change it such that the list of (unlabeled) recent transactions gets displayed under the known addresses with loading visualized with a spinner. At least the spinner should be integrated in the "recent transactions" activity.

That's what I thought. No reason to not cache these permanently so they can be loaded from the device (and updated from the server if this is necessary at all).

Ok, cool. Translations missing of course but else I guess I will use my version from now on.

Well, usage statistics (with opt in) could be one way to go. I would bet that not even half of those with more than 10 transactions have used this feature. The options button is kind of dying out. On later Androids, people are not used to press the options button that much. Maybe some options button on the main screen would get them to use it.

When I start Spinner -> options -> address book -> add address -> 10s the list of recent receivers is empty. Later this list populates almost instantly.

ok, so GLBSE defaulted well before I actually sent them my money although I already had some forms filled out to advance this plan of co-funding.

Meanwhile FluxCards did quite well with 1000 new active installs per month and currently 8,657 active installs and 24,000 total downloads. The just recently released premium key sold 12 times@5€ in its first week which is about a tiny fraction of what I had hoped for.
To really make money with it, these numbers have to go up by one or two orders of magnitude but I'm optimistic that with facebook, it will get there.

So with GLBSE gone, what would be the best plan of action to offer this to potentially anonymous share holders? Anybody interested to directly buy a share at certain conditions? Any thought on how to proceed from here would be appreciated.

If there are any bounties for BitcoinSpinner improvements (new preferences icons , more intuitive UI (did you know there is an actually working address book? It's very well hidden and once you know how it works, it works, although very very slow), … I would look into it again

With symbian I see distribution as a problem.
14 years ago I was thinking about implementing dynamic ride share but there were no smart phones yet and for my project to succeed, a high density of users would be key. My only option was to convince a network provider or a manufacturer to distribute it. There are java enabled phones that nobody uses to run custom software. Maybe companies do so but not end users.

I also vote for smartphone only and wouldn't put a dime on developing a bitcoin client for symbian.

Yet if anybody feels nostalgic to hack something, memory constraints shouldn't be an issue as with expensive data plans, the schildbach client should not be the goal but rather some Bitcoin Spinner type of client.
Also please think about no-qrcode scanner/no-nfc. People might have a lot of time to type bitcoin addresses but I see at best a proof of concept and no mass adoption.

pätsch. As we like to say in Germany.

I didn't understand what you did with the preferences and would appreciate if you could explain it. Else I was happy it ran immediately after importing into my eclipse

(preferences)

I guess I mentioned it before … I'm very surprised to see SVN. How do you do a pull request with SVN? Would you want a patch file and a revision number? Makes things more complicated, don't you think so?

In the settings I would just want a a checkbox "show confirmation count" that may be off by default, but in the end it's open source, so I'm sure a beautiful patch will get pulled happily