Probably a bad idea but... a bitcoin whitelist

[notig]

I thought it would be interesting to create a site where... people can opt to get on a whitelist. Here is how it would work: When you opt to get on the whitelist you pay a credit card fee (something like 12 dollars) . You get put on some kind of transition phase where you are not whitelisted yet but transitioning. After 1 year you are whitelisted... and part of your initial payment is either refunded or given back as bitcoin amount.  Any external merchant site can connect to the whitelist site and see if you are whitelisted. If you are then you are trusted somewhat. The trust level can be somehow ranked. You would start at a low level.

This would allow people to buy small amounts of bitcoins with credit cards if they needed them in the future fast or something.

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[cardinalG]

WoT?

[Vitalik Buterin]

This would allow people to buy small amounts of bitcoins with credit cards if they needed them in the future fast or something.

Except that you can accomplish the exact same thing by just sending the BTC to a cold storage address and taking it out when you need it.

[Vernon715]

What exactly would this gain you?

[notig]

it means you could buy bitcoins with a credit card and get them immediately to spend.  The merchant is more likely to sell you bitcoins for such an irreversible transaction if you have already done a transaction and didn't reverse it. To get on the whitelist.

[bbit]

it means you could buy bitcoins with a credit card and get them immediately to spend.  The merchant is more likely to sell you bitcoins for such an irreversible transaction if you have already done a transaction and didn't reverse it. To get on the whitelist.

I like your idea I'm just trying to flush out in my head here