Trust System

[weniejoy]

Hi, newbie here. Just read most of this thread and had one question.  What's to stop a scammer from creating multiple id's and building up trust between his own fraudulent network?

There's nothing to stop that.  You just need to be careful about who you put in your trust network and it won't affect you.

With nothing to stop that, someone can get into your trust network and build up trust over a long period of time and when the time is right, or when you and your network is plump and ready, he can then slaughter everyone there.  Scary thought.

[tysat]

Hi, newbie here. Just read most of this thread and had one question.  What's to stop a scammer from creating multiple id's and building up trust between his own fraudulent network?

There's nothing to stop that.  You just need to be careful about who you put in your trust network and it won't affect you.

With nothing to stop that, someone can get into your trust network and build up trust over a long period of time and when the time is right, or when you and your network is plump and ready, he can then slaughter everyone there.  Scary thought.

There's no way to stop the long con, you just have to be careful about who you trust and how much you risk.

[trixong]

is possible to block ip? For scamers. So they can't will create a other account.

[hyp3x]

I think the trust system is a brilliant idea. I'm a relative Newbie and made my first transaction via a Bitcointalk member today and the trust system increased my confidence to trade. It was also nice to receive positive feedback for my part of the transaction.

Looks like one of you used the feedback system incorrectly.  The risked BTC should really only be used by the person who risked something.  The person who sent first would be the one who risked BTC, the second sender didn't risk anything because they had already received something, and they were just finishing the transaction.

I sent first, £10 GBP. I then received what I'd asked for which was 5 Litecoin. I used BTC-E for the conversion of 5 LTC to BTC which came out at a risk of 0.12 BTC, so I entered this figure in the risked BTC box. Is any of that procedure incorrect?

I believed you did it correctly, because you risked money.  So your feedback with him would include what you risked.  He's the one that took no risk with you and was incorrect.  He already had cash in hand before he sent anything.

I'm liking this idea.  Is this something Bitcointalk.org is implementing or just talking through it?

[🏰 TradeFortress 🏰]

It's already here.

[anarchyx]

You cannot buy the revolution. You cannot make the revolution. You can only be the revolution. It is in your spirit, or it is nowhere

[kylemigs]

what do they say; "Never risk more then you can afford"

[sparor]

May I suggest that use of the rating system to reflect how much you like someone's posts or personality is counterproductive? I base that on my preference of knowing someone's trade history in a nutshell, not how well liked they are. The two might not always go hand in hand.

I see a lot of ratings like that on the #bitcoin-otc and forum rating systems. I could mentally ignore them, of course. As such, I don't know if there's any way or will to reduce those type of ratings.

(This is my obligatory first post.)

[bitdigger2013]

I was wondering how can we "trust" the trust system if accounts are being sold and bought?

[Denver$]

I'm in as long as the world elite is not involved

[DigitalMan]

doesn't seem to work.  when does it show up??

[bernard75]

Could you guys at least think about a dispute system?

[BadBear]

Could you guys at least think about a dispute system?

Stuff like that is better left to third parties.

[bernard75]

What kind of third parties do you mean?
This is a forum feature and should be obviously handled by mods/admins.

[BadBear]

What kind of third parties do you mean?
This is a forum feature and should be obviously handled by mods/admins.

Sorry, reading your post with no context I thought you meant as a way to handle trades, not for the feedback.

I think the feedback system is better left decentralized, a dispute system would put it in the hands of the few. As it is now, people can look on their own to determine is feedback is genuine or not.

[Odysseus]

Superb idea.

Would it be possible to use a client or app to couple a completed transaction with an issuance of a trust rating? I'm envisioning a sort of automated +1 for successful exchanges.

[Odysseus]

What about a linkable ledger that would show the cash value/BTC for negative-trust transactions?  This might be a way of exposing any long cons.

[AvaWoods]

I am working on a program that will allow trades to be done safe, avoid scammers.
It would be open source so people know there is no code that steals your BTC.

But good post!

[4ju5tice]

I was looking at some of the security forums, and was thinking that the trust feature seems really beneficial to help in weeding about scams. Of course, one must be careful still... just makes it a little tougher for scammers.

[rimbit]

What about a linkable ledger that would show the cash value/BTC for negative-trust transactions?  This might be a way of exposing any long cons.

Keep us updated... Very interested in seeing it in action