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fwho
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February 24, 2013, 09:17:06 PM
 #1

I was thinking about how important trust is in an online marketplace, and how it is so much more important when using bitcoins. Nearly every site has some sort of feedback system, and there are even tons of sites that offer 3rd party ratings and reviews. So, what about a reputation system for btc?

Merchants can sign up and have an address created, and when customers feel they are worth it they can send small amounts of btc to the address in order to up the merchants rep. The system would then track the total "donations" sent and how many different wallets sent them in order to provide a type of rating system. Of course it doesnt have to be limited to just merchants per say. If the rep is based on a URL, then not only could store fronts use it, but forum members could use the link to their profile and put a provided banner in their signature. Maybe a new bot could even be introduced to reddit like bitcointip, where anyone can check the posters rep just by asking.

The funds that are "donated" towards rep could then be used in a faucet, for advertising, or just generally bringing knowledge and interest of bitcoin to the world. As a crazy idea, maybe once enough donations are built up Kiva could be convinced to accept bitcoins and all funds could be pushed into loans for a bitcoin group. Then bitcoin would be helping small businesses globally and in the smallest corners of the world. Of course, the creator could just pocket funds, but I doubt it would be used quite as much.
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Sukrim
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February 24, 2013, 10:06:41 PM
 #2

If typical "tips" used as reputation are low, what stops me as merchant from simply creating as many addresses as I need, fund them and send tips?

There is no real way of telling how many addresses a "wallet" has - if you require the tips to be "untainted" you can only tip once from MtGox, on the other hand you'd just promote coin mixing services. If you don't watch taint at all, you can just send 1 BTC in 1000 transactions over time and have a huge reputation (compared to what others might tip) and then start scamming.

Also, this system already exists and is I think even older than MtGox... please look up the Bitcoin WoT (Web of Trust) and Bitcoin-OTC. Smiley

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
fwho
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February 24, 2013, 10:15:54 PM
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I will check those out, and then delete this post. If that is possible.
Sukrim
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February 24, 2013, 10:56:03 PM
 #4

I will check those out, and then delete this post. If that is possible.
Now you can only claim I changed this quote! Tongue

Gribble is not 100% as you describe (I don't think it provides a general API) and ratings are not done by "donations", but as I said, trivial amounts of donations can be faked and nontrivial amounts are too expensive to spend on ratings of merchants that don't benefit you as customer.

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
fwho
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February 24, 2013, 11:07:36 PM
 #5

Yeah, I was thinking of something with a much more user friendly UI. Like a form:
Name: e.g., Store Name, Forum Name, etc.
URL: URL associated with user.
submit

From there the needed information would be generated. Such as a script to place in a website footer or an auto updating tag image for in your signature.

The reason I mentioned using bitcoins was so the rater actually had to commit SOMETHING and couldnt just add ratings for the fun of it. But I def. see your point in how that could easily be abused.
Sukrim
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February 24, 2013, 11:21:15 PM
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What should be my motivation as a user anyways to spend time (and potentially money) on rating somebody?

If everybody rates merchants, my rating is irrelevant and if nobody rates, I don't gain more information from rating as well + the rating website would be irrelevant.

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
fwho
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February 25, 2013, 12:27:10 AM
 #7

You have a valid point, but I dont think it is really that black and white. Some customers would take the time and effort to support a business / service they really enjoy or appreciate. However, I do think that actually sending bitcoins to rate (no matter how little) would be too large of a gate.
On the other hand, its hard to make something bitcoin specific without involving bitcoins.

Oh the circular references.
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February 26, 2013, 04:49:43 PM
 #8

This is actually a very good idea. Perhaps just have a central site which can plug into an API on the various sites with their rating systems for those that are currently using them, then a pluggable API for sites that do not want to use their own system.

So you could have a central location that would have something like:
bitcointalk.org
Elwar: *** (2414 posts)
BTCJam
Elwar100: 95%
BitMit
MagnoliaBoutiq: 2+
XYZsite
E1war: XXXXX

First seastead company actually selling seasteads: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
Seastead talk at http://seasteadtalk.org
fwho
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February 26, 2013, 04:57:37 PM
 #9

What about plugging into them in order to create a new score? Set up some sort of algorithm to create one easy to reference number.
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February 26, 2013, 11:24:43 PM
 #10

http://bitcoin-otc.com/trust.php

Saying that you don't trust someone because of their behavior is completely valid.
Xenland
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February 27, 2013, 12:36:27 PM
 #11

I didn't read all of your post yet(will do though), but I hope to have my P2P Crypt project be used as a "global" trust system as there is no unified database of "We trust this identity". It's "webs of webs of webs of trust" which could be analysed and output data accordingly based on a list of identities that you trust personally. (in other words it is/will be a system of "subjectivly/dynamic trust" based on "objectively real trust" values).
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