So you peg it in whatever currency/jurisdiction the defaulter happens to be in...

Sure, there are plenty of logistics problems... (and maybe BTCJam could at least show, in addition to showing that we have verified our address, to give us city/state/country, so we at least have some idea of the legal climate we'd be dealing with if we tried to collect, or even if the lendee is just local to us or not.)

-- Smoov

While you're at it, can you give DVC a kick? It looked like it stopped updating several days ago.

-- Smoov

They could probably do it if they pegged the USD value at the time the loan went active and the BTC were disbursed. The do collections on the outstanding USD value...

It wouldn't be ideal, but it would be something... if you just think of BTC as the means of transferring the USD to the lendee, instead of as the currency, for the purpose of collections anyways.

(I really don't know the legal particulars about how those actions work tho)

-- Smoov

I suppose a dividends calendar could also work something like this...

The asset issuer has decided that dividends will go out on the 10th of every month, or on the 1st every three months, which he could set in his asset's portfolio (ceo page? dunno what they're calling it)

Then, as funds come in which would go to dividends, they could be moved into the dividend account (not a separate account but just pre-allocated)

Then, on that date, on schedule, the site would automatically distribute anything already allocated for dividend out to the shareholders.

Naturally, this wouldn't be practical for a lot of assets, but for some (like mining bonds perhaps) it could be useful.

Just a possibility...

-- Smoov

One thing I like about BTCJam is I don't have to give out my personal information out to everyone that asks for it.

How can I be sure why they want it to begin with? The site has verified me, and has my information in escrow, so if it becomes needed later, it can be released, with cause.

The ability to link my profile to the forums, and OTC, is nice too (although I haven't been able to link mine to OTC yet, since I didn't use gpg to register OTC, but since I have no OTC rating yet anyways, it doesn't matter that much... yet...)

I have been critical of Tulkas of a couple things, but he's responsive and takes criticism well. Even when I'm being an asshole about it. 

-- Smoov

Greetingz, everyone...

Ok, so this is the first time I've asked for a loan from the community. (well, technically, the 2nd time, since I cancelled my first listing, and re-listed it with a lower amount)

You can find my BTCJam listing here: http://btcjam.com/listings/724

In a nutshell, I had to be treated in the ER a monthish ago for a dislocated jaw. (my hinge-bones are broken and I have TMJ, which affects how well my jaw stays aligned, which I can usually manage with Motrin, but occasionally, on average every couple/few years, it requires more treatment)

Anyways, just bad timing this time, I need to defer getting this paid off until next year.

It isn't necessary, just the difference between having mom's house paid off for xmas, or for her birthday in February... I'm shooting for xmas, and until my ER visit, I was on target to make it by xmas.

My identity is verified through BTCJam.

My listing is for 117.165 BTC, and is, at the time of this posting, already ~48% funded.
My listing expires in 7 days (2012-12-11)

I have set the terms to be a 365 day loan with payments every 10th of the month, at 3.14159% (yeah, yeah, I know, but it seemed like a nice round number)

I don't expect it to take 365 days to pay it back, I just prefer to be conservative, just in case, and make my payments early, than to be too optimistic, and end up paying late.

If I can get the loan over 70% funded by the expire date, then it will go active, and if not, all pledged funds will be returned to the lenders automatically.

By my math, if I can get at least 85% funded, then I can make my self-imposed deadline. If I end up not being able to make it, I will immediately make all of the scheduled repayments the loan amount will cover, and then pay the last payments (for the interest) after the new year.

I fully realize that the BTC exchange rate is likely to continue to rise more, due to the halving, instead of dropping like previous years, due to xmas cashing out. I'm fine with this.

If this loan doesn't go through, I won't be re-listing it again on BTCJam, as by the time a 3rd attempt would fund, my window of opportunity would be gone.

If any of you are interested in helping to fund my loan, I would appreciate it.

Thank you for your time.

-- Smoov

OP needs an update... p2pool is now on version 9.3

-- Smoov

and didn't BFL already bump up the speeds from, for the peppers, 3.5GH/s to 4.5GH/s?

Yet you don't give them credit for that... hardly impartial...

-- Smoov

I do have a question about how deleted listings are handled... for example, my original loan request I deleted and made a new one when the time was about to expire...

I had left a message on it, which I wanted people to see... so when people get the email notification, is there still a page for them to bring up with the comments on it after I deleted the listing from the browse listings list? So they can see the comment I left on it before I closed it?

And if the page itself does indeed get deleted, maybe either changing the behavior to just close the listing, but keep the page available to be looked up somehow... this could be useful if we need to close a listing and replace it with a new one with changed terms, for example.

I don't remember the old listing # or I'd try looking it up myself.

Lemme know?

-- Smoov

Ok, well, for starters, I'm not affiliated with p2pmining, I'm just a guy who was frustrated with how it is done at one point too (which I posted about in the thread), and kinda pissy about it not being in the FAQ yet, so once I figured it out I volunteered to put together something for the FAQ page.

Also, you haven't created an account with p2pmining.

If you look at the stats for some of the other addresses that are mining with p2pmining, you'll find you  have access to the same "Register Merged Mining" tab for those addresses too, but since you don't have control of the address they are mining with, your digital signature for any changes you try to put in will fail.

Using digital signatures in this way has added security in that you don't end up having someone finding your password and using it to change all of your payout addresses to their accounts. You have to have access to your own wallet to do it. All the signature does is show that yes, it is really you making the address change, and not someone else.

If this was the kind of site where you would need to log in frequently and make changes often, then having them set up with accounts would make more sense, but once you have them set up, you will rarely need to have to change them later.

Sure, it isn't point-and-click easy, but if it was, your rewards would be much less secure than they are now.

Oh, and you should never mine using an address you don't have control over. That is just basic.

-- Smoov

ps: I will add a little something about choosing a mining address to what I'm putting together for the FAQ, too. Thanks for mentioning it.

Any special treatment you bestow on one, you MUST bestow on ALL, or you lose credibility.

I asked for an extention of my deadline only, and didn't even receive an acknowledgement.
No other changes to the terms on mine were even being asked for.

Yet, this one that I have seen in the list for pretty much the entire time mine was in, gets halved, goes active without meeting the minimum of the loan people signed up for, none of the lenders had any opportunity to even be notified, MUCH LESS CONSENT to the change in terms, WITH THEIR MONEY.

UNACCEPTABLE.

You're going to have to do better than this. No special favors for anybody, or everyone gets the same perks. That's the deal, if you want to be taken seriously as an independent crowdfunding intermediary.

-- Smoov

You have to register your merged mining payout addresses...

...which should be on the faq page...

...which I promised to put together and send in for them to put up there...

...before my family started driving me crazy...



On the website, bring up your stats for the BTC address you're currently mining to. Then go to the Register Merged Mining tab.

On that tab you can set up an alternate BTC payment address, and the alt-coin payment addresses.

When you do Instant Payout, that only does the BTC addresses (although, maybe it should do the alt-coins as well?).

I'll assume you're using Bitcoin-QT client, because I haven't attempted to sign anything with the daemon or other clients.

First off, go to the Receive Coins tab in your bitcoin client, highlight the address you're using to mine with, and at the bottom row of buttons, you have "Sign Message". Click that button, and you'll bring up the message signing window, with your mining address already filled in at the top.

To change the payout address for Namecoin(NMC), get the NMC address you want to have them sent to, and paste that address by itself into the large message box in BTC's Signature menu. Paste the same address into the Namecoin Address field on the website's Register Merged Mining page.

Then click the Sign Message button in BTC's Signature menu. It will show the digital signature in the field below. The icon to the right of that field will copy the signature to clipboard. Copy the signature, and paste it into the Signature field on the website, below where you put the NMC address.

Then click Register. (only do one kind of coin at a time... I tried doing em all at once, didn't work).

That's all there is to it... lather-rinse-repeat for the other alt-coin.

I'm not certain what the payout thresholds are. 10 IXC, 100 DVC, I think, dunno about the others. (and maybe they should automatically pay out if you haven't submitted a share for a week or two, even if you're below the threshold)

Anyways, that's all you need to get your alt-coin starting to be sent to you. If you don't change one (say, for Devcoin(DVC), if you're using Windows, because DVC doesn't have a win bunnie) then your alt-coin will stay at p2pmining, until you're ready to set up somewhere for them to go. (say, here: Vircurex, for example).

I think that should do it, lemme know if I wasn't quite clear enuf on some of this... I'm working on getting it nice and clear to send in to the p2pmining peeps soon.

-- Smoov

+1 to showing their name... if we can see their rating/reputation in the summary, we should be able to see their  name too.

-- Smoov

I have to agree on the transparency part.

I know he has made the claim that the verification info he has taken, will be available to collections actions if needed.

No idea if anyone has taken him up on that tho.

-- Smoov

They can only verify identity... they can't verify integrity...

They also aren't responsible for taking on all the risk themselves, for the lenders' choices on who they lend coin to.

Even brick and mortar banks deal with defaults...

There is no such thing as a no-risk loan.

-- Smoov

Thanky... site is showing all I0C blocks confirmed, but I can't figure out how to force the payout. Is that something you have to trigger manually if it is below the automatic threshold?

-- Smoov

I see that the I0C tab hasn't been updating...

I know that mining was stopped on that, but that still leaves the coin we already mined, waiting for confirmations and be sent out to us.

Has that already been done? Or do they still need to be distributed now that we should be well past 120 confirmations since the last block was mined on.

-- Smoov

Do a "namecoind listtransactions" command, see if the last one listed says 'generated'.

You won't see the generated coin as part of your balance until it has the usual 120 confirmations.

-- Smoov

are your cards single-screen or multi-screen cards? (I don't mean one HD port and 1 SVGA port, but 2 HD ports or more)

-- Smoov

Crap... I never could walk on my hands... guess I'm screwed...

-- Smoov