[IPO] CoinFinder - Decentralized BTC-fiat currency exchange system

[wsbnever]

CoinFinder - Decentralized BTC-fiat currency exchange system

It's not an alternate cryptocurrency!!! Coinfinder is a exchange system!!!

Overview
CoinFinder is a P2P network constructed by a decentralized exchange platform to provide a non- trusted environment BTC and fiat currency exchange system.

CoinFinder offers two trading patterns, the P2P transaction which BTC locked by multi-signature, and the P2i2P transaction witch fiat-intermediary guarantee fiat currency.
After the system improvement, it is very easy to extend the labor agency, intermediary goods, and alt currency trading business.

When the transaction intention of the parties to reach:
1, If the P2P trading patterns, the buyer sent BTC to the address which buyer& intermediary common control with multi-signature model. Then buyer sent fiat currency to the seller. After the seller to confirm receipt of fiat currency, notice the intermediary unlocks BTC.
2 , If P2i2P trading patterns, the buyer sent BTC to the address which buyer& intermediary common control with multi-signature model. Then buyer sent fiat currency to the intermediary. At the same system lock the intermediary’s 2 times the volume of transactions as mortgage assets.
Buyer &seller to confirm the completion of the transaction, then system unlock the intermediary’s mortgage assets.
3, If the transaction dispute may initiate arbitration by the arbitrator to determine the vesting of assets.
4, If the failure believes the arbitrator and winner conspiracy, conspiracy judgment may initiate in the whole system. All have a certain share of the node has the right to vote.

Project Benefits
CoinFinder run peer network, there is no person or organization can control it, it's neutral, secure, and robust.
CoinFinder’s all revenue shared by all shareholders and workers, it is everyone's CoinFinder.
CoinFinder is currently the only platform with anonymous BTC-fiat exchange.
CoinFinder provide a peer to peer BTC- fiat exchange method which based on non-trusted network, this method is completely ensure the safety of funds.
CoinFinder exist a number of funds collateral and credit history of the intermediaries, so not suitable for direct peer to peer buyer and seller reach a smooth transaction more secure BTC-fiat exchange.
CoinFinder funds are flowing all the nodes in the network record, never lost.
CoinFinder no center, and therefore cannot be seized, or DDOS attacks.
CoinFinder can easily run on the mobile terminal and the web.
The most crucial point, all the elements to build CoinFinder, not for the benefit of a person or a company, it is designed to profit from the market for all participants, it is to build a commercial ecosystem. Even more amazing is that the system will generate the internal operation mechanism driving force, so that the ecological chain members spontaneously to defend the stability and development systems while achieving significant amount of income. Finally, CoinFinder run a stability maintenance fund endorses all mortgage assets, and ultimately protect the financial security of all market participants.

System Rules
1、   Anon-confidence. System in anyone transaction, are based on the principle of no-confidence. All processing of our design is completed on the assumption that no one can be trusted.
2、   Responsible behavior. A node’s any decision, behavior, affairs, under the rules anon-confidence; if you possible harm to the interests of any other node, you must be equal to the risk of mortgage assets.
3、   Liability of shareholders. Coinfinder is a completely shareholding system. All fee income of the system, to all the shareholders. Any important decision in the system by the shareholder vote.
4、   Decentralized. There is no centralized power and rights in the system.

System Workflow
1.System Architecture
Shareholding Structure
Shares never baseless, shares reflect the investment and labor, was distributed to construct the system of contributors and investors.
The later only by shareholders a vote on whether the issuance of shares, which can guarantee the late stage investment, will not damage the interests of the shareholders to early. So the system with indefinite total shares.
All the income of the system was been distributed to the shareholders, and only this.
Only shareholders have the right processing system transaction (arbitration, intermediary, voting, etc.).
Coinfinder’s shares are the only effective mortgage assets in the system.

Membership Structure

Seller：Sale of BTC through the system, access to fiat currency.
Buyer：through the system to buy BTC, pay fiat currency。

Intermediary：there are two kinds of intermediary, multi-signature intermediary and fiat-currency intermediary。
The client auto processing multi-signature without intervention when you work as multi-signature intermediary, and get a small amount of fees.
Fiat-currency intermediary processing P2i2P transaction, forwarded to the seller the buyer’s fiat currency. While recording some important attributes like level, credibility, etc.

Arbiter：Arbitration disputes, in order to determine the vesting of assets and access to arbitration fee.
Vote Node：When there is a major event needs been determined, the active node which have a certain amount of shares become a vote node.

Stability maintenance fund
In the stock market, there is always a huge buy order which sponsored by stability maintenance fund, this buy order use the system-public-fee to guarantees the minimum value of all the shares. Stability maintenance fund endorses for all mortgage assets.

2.Trading Process
2.1Trading Flow Diagram



2.1.1 P2PTrading
1)   Seller open sell orders in the market.
2)   Buyer find the sell orders in the market.
3)   Assuming the buyer chose P2P Trading.
4)   Buyer pay buy order. But if the seller first mortgages assets as much as 1%-10% of the transaction amount, the buyer must does that too.
5)   System randomly selects a multi-signature intermediary. The selected intermediary immediately mortgages his shares as much as the turnover.
6)   Seller Client auto / manual sent BTC with multi-signature to the address which be controlled by the intermediary and the buyer.
7)   The buyer to send fiat currency to seller’s bank account.
8)   Seller checks his bank account and confirms the arrival, and notify intermediary unlock BTC.
9)   Intermediary client auto / manual unlock BTC, and then the buyer receives the BTC.
10)   System unlock intermediary’s shares, if seller and buyer have locked mortgage assets, system well unlock they. Then transaction completed.

2.1.2 P2i2PTrading
1)   Seller open sell orders in the market. and chose to accept fiat currency intermediary。
2)   Buyer find the sell orders in the market.
3)   Assuming the buyer chose P2i2P Trading.
4)   Buyer pay buys order. But if the seller first mortgages assets as much as 1%-10% of the transaction amount, the buyer must does that too.
5)   The system randomly selects fiat currency intermediary. The selected intermediary immediately mortgages his shares as much as two times turnover.
6)   Seller Client auto / manual sent BTC with multi-signature to the address which be controlled by the intermediary and the buyer. While the buyer to send fiat currency to the intermediary’s bank account.
7)   After confirming receipt of the buyer's fiat currency, intermediary unlocks the BTC. Meanwhile the fiat currency intermediary forwards the fiat currency to the seller.
8)   Seller checks his bank account and confirms the arrival.
9)   Buyer checks his BTC account and confirms the arrival.
10)   System unlock intermediary’s shares, if seller and buyer have mortgage shares, system well unlock these. Then transaction completed.

2.1.3 Shares Trading
Between BTC and shares transactions are brokered transactions.
2.2 Trading Fee

2.2.1 P2P Trading Fee
The fee is 0.1%.
The BTC be paid to the buyer 99.9%.
30% of the fee is sent to stability maintenance fund.
10%-80% of the fee is sent to multi-signature intermediary; rest distributed to all shareholders.

2.2.2 P2i2P Trading Fee
The fee is 1.1%.
The BTC be paid to the buyer 99.9%.
The fiat currency be paid to the seller 99%.
30% of the BTC fee is sent to stability maintenance fund.
10%-80% of the BTC fee is sent to intermediary; rest distributed to all shareholders.
Intermediaries charged 0.1% -1% fiat currency fee.

2.2.3 Equity Transaction Fees
Two-way charge 1% fee, fee is sent to stability maintenance fund.

3. Arbitration Process
3.1 Arbitration cause
3.1.1 Fraud Arbitration
1)   Fiat currency payer fails to pay, but claims have been paid.
2)   The recipient has received fiat currency, but claimed not received.
3.1.2 No match the arbitration
1)   The recipient does not receive full amount of fiat currency.

3.2 Arbitration Process
When a party refuses to accept the outcome of the arbitration, may continue to initiate arbitration application.
Arbitration can be initiated up to 7 times. A continue win 3 times, or win 4 of total 7 times, will be the end of the arbitration.
For transfers are not full amount, the parties voluntarily choose to make full or rolled back the transaction.
Transaction timeout and not respond equivalent arbitration fails.

4. Conspiracy Decision
If a party considers being a conspiracy to attack, he can initiate conspiracy appeal, after mortgage asset as much as 10% of this transaction turnover.
This complaint will be broadcasting the entire network , but the node has the power to participate in the vote after be mortgaged of his shares as much as the transaction turnover 1%.
Conspiracy to determine if established, the case will be overturned. Meanwhile conspirator is severely punished.
If the judgment is not established conspiracy, the originator’s mortgage assets been confiscated by system.
Conspiracy decision is the final result of the processing of all disputes.

My Work
Phase 1
1、   Create Coinfinder’s team
2、   Publish Coinfinder’s official website
3、   rebuild a real-time P2P network for Coinfinder, to support real-time transaction
4、   Release client for windows.
5、   The early market promotion.
6、   documents
Expected time: 1 mouth

Phase 2
1、   Released BTC-fiat currency trading function
2、   Open CoinFinder shares transaction market.
Expected time: 1-2 mouth

Phase 3
1、   Released mobile/mac client, and support web access tranding system
2、   To complete the system all the advanced features, and improve credit rating system.
3、   To improve the trading system, to guide and build the ecological chain commercial.
Expected time: 6mouth

Expenditure List
Phase 1 expenditure：
1、   official website         3 BTC
2、   Development work      20 BTC
3、   market promotion         2 BTC
4、   Document, other incentives   3 BTC

Shareholding Structure
We estimate need 30 BTC in phase 1, Therefore issue 30000 shares.
At phase 1, excess donation is also enjoying the first period rate of return, but the BTC in the next period.
The donation deficiency may make the system progress is slow, but we will still work hard until finish it.

Return on Investment
0.01BTC      10 CFS(the first 3 investors get 20 CFS)
0.05BTC      52 CFS(the first 3 investors get 100 CFS)
0.1BTC      105 CFS(the first 3 investors get 200 CFS)
0.5BTC      530 CFS(the first 3 investors get 800 CFS), Fixed hide ID intermediary
1BTC      1080 CFS(the first 3 investors get 1500 CFS), Fixed hide ID intermediary, Lv1 Senior Multi-signature Intermediary
2BTC      2200 CFS(the first 3 investors get 3000 CFS), Fixed hide ID intermediary, Lv2 Senior Multi-signature Intermediary
5BTC      5600 CFS(the first 3 investors get 7000 CFS), Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv1 Preferred fiat currency intermediaries

10BTC      11200 CFS（other 600CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv2 Preferred fiat currency intermediaries, Lv1  Level-Guarantee intermediary

20BTC      22800 CFS（other 800CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv2  Level-Guarantee intermediary

50BTC      59000 CFS（other 1000CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv3  Level-Guarantee intermediary

100BTC       100000 CFS（other 10000CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv3  Level-Guarantee intermediary, Lv1 Preferred Arbitration

200BTC       200000 CFS（other 20000CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv3  Level-Guarantee intermediary, Lv2 Preferred Arbitration

300BTC       300000 CFS（other 30000CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv3  Level-Guarantee intermediary, Lv3 Preferred Arbitration

500BTC       500000 CFS（other 50000CFS donation to Stability Maintenance Fund），Fixed hide ID intermediary, Lv3 Senior Multi-signature Intermediary, Lv3 Preferred fiat currency intermediaries, Lv4  Level-Guarantee intermediary, Lv3 Preferred Arbitration, No Level limited intermediary, Distributed Transaction Processing

CFS（CoinFinder shares）：CFS is the only collateral of all transaction matters, CFS will determine how much the intermediary, and arbitration can handle the transaction size (larger transaction means higher returns, but also secured more CFS). In addition, the entire system fee is distributed by CFS holders.

Fixed hide ID intermediary：Coinfinder is completely anonymous mechanism, exchange only seen each other's ID. Due to some force majeure, the intermediary may have to re-register the ID, and then the accumulation of prior credit history, assessment records, and records of equal rank can be discarded. Hide ID intermediary fixed most valuable of these records can be transferred to the new agency ID. However, this right cannot have any credit without foundation.

Senior Multi-signature Intermediary：All the P2P&P2i2P transactions, the multi -signature intermediary obtained fee of 0.007%. Simply signing intermediary clients online, without human intervention automatic completion of the intermediation process. Multi-signature intermediary cannot be upgraded in any other way.
Level 1 Multi-signature Intermediary: obtained fee of 0.014%
Level 2 Multi-signature Intermediary: obtained fee of 0.028%
Level 3 Multi-signature Intermediary: obtained fee of 0.056%

Preferred fiat currency intermediaries：All P2i2P transaction, the system randomly as recommended by both parties signing a fiat currency intermediary, the intermediary obtained fee of 1%. The larger volume of transactions , the less qualified candidate intermediary。
Level 1 fiat-currency Intermediary: 2 times of probability been recommended
Level 2 Multi-signature Intermediary: 4 times of probability been recommended
Level 3 Multi-signature Intermediary: 8 times of probability been recommended

Preferred Arbitration: When the transaction disputes, arbitration will ruling dispute asset’s ownership, and get a high return on arbitration.
Level 1 Preferred Arbitration: 2 times of probability been recommended
Level 2 Preferred Arbitration: 4 times of probability been recommended
Level 3 Preferred Arbitration: 8 times of probability been recommended

Level Guarantee intermediary：a higher level of intermediary can guarantee a higher amount of the transaction , but the intermediary level upgrade requires a lot of time and accumulate transactions. Level Guarantee intermediary can upgrade nominal level of the specified intermediary. After specifying nominal level intermediary transaction completed, intermediary will pay 30% fees to their Level Guarantee intermediary until the intermediary upgrade or suspend

intermediary guarantee. Cannot upgrade level 0 intermediary’s level.。
Level1 Guarantee intermediary: Up to 3 intermediaries whose level1-level3 to upgrade 1 nominal level
Level2 Guarantee intermediary: Up to 6 intermediaries whose level1-level6 to upgrade 1 nominal level
Level3 Guarantee intermediary: Up to 9 intermediaries whose level1-level9 to upgrade 1 nominal level
Level4 Guarantee intermediary: Up to 12 intermediaries whose level1-level12 to upgrade 1 nominal level

Distributed Transaction Processing：Each system ID at the same time only in the same client login, distributed transaction processing node has a node will be used to achieve the manner authorized payment transactions, thus the reality of multi-node processing transactions. A typical scenario is a senior intermediary, senior arbitrator also received multiple transactions, these transactions nodes can be redirected to other authorized nodes. Time to be determined to achieve this functionality.

No Level limited intermediary：Upgrade requires a lot of time to accumulate the transaction. No Level limited intermediary can guarantee high transaction early in the systems. But in the early system operation , please pay attention to prevent the risk of a huge deal。
Stability maintenance fund: In the stock market, there is always a huge buy order which sponsored by stability maintenance fund, this buy order use
the system-public-fee to guarantees the minimum value of all the shares. Stability maintenance fund endorses for all mortgage assets.

Investment address
BTC: 12knwDJPJthBGrpp8Y3VR1nwBNkCLecbxE

The closing date of the first phase investment is: 2014/2/16 00:00
Please send the investment with your BTC wallet instead of other exchange!!!
When release coinfinder, just import your BTC wallet, you can receive your CFS.

My email addr: coinfinderofficial@gmail.com

Thank's for your support！

Why the  first 3 investors get more CFS?
The same BTC for us, but higher risk for those investors.
You can see the inverstment records here: https://blockchain.info/address/12knwDJPJthBGrpp8Y3VR1nwBNkCLecbxE

[1713484096]

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[1713484096]

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[1713484096]

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[1713484096]

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[1713484096]

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[1713484096]

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[drgonlee]

Great idea!
What the total amount of CFS will be?
If someone invest the project some BTCs, how can he contact you?
Email or PM?

[wsbnever]

Great idea!
What the total amount of CFS will be?
If someone invest the project some BTCs, how can he contact you?
Email or PM?

Shares never baseless, shares reflect the investment and labor, was distributed to construct the system of contributors and investors.
The later only by shareholders a vote on whether the issuance of shares, which can guarantee the late stage investment, will not damage the interests of the shareholders to early.

So the system with indefinite total shares.

We estimate need 30 BTC in phase 1, Therefore issue 30000 shares.
At phase 1, excess donation is also enjoying the first period rate of return, but the BTC in the next period.
The donation deficiency may make the system progress is slow, but we will still work hard until finish it.

thanks!

[thecoinjournal]

Yet another scam?

[HairyMaclairy]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

[Sleepnbum]

How do initial investors get their CFS?

[plasm]

Hope for a great success！

[wsbnever]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

Thanks for your question,
the system will provide a set of standard transfer process, according to the requirements of steps in to save the transfer records ,The fact that we have already had a plan to judge whether the real line transfer.

[wsbnever]

Yet another scam?

It's a greate system, and I have a greate dream!
Just look

[ymer]

 

[HairyMaclairy]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

Thanks for your question,
the system will provide a set of standard transfer process, according to the requirements of steps in to save the transfer records ,The fact that we have already had a plan to judge whether the real line transfer.

More detail please.  We all know bank deposit slips are very ease to fake. 

[wsbnever]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

Thanks for your question,
the system will provide a set of standard transfer process, according to the requirements of steps in to save the transfer records ,The fact that we have already had a plan to judge whether the real line transfer.

More detail please.  We all know bank deposit slips are very ease to fake.  

We all know, before coinfinder, there are many similar system, like BTS, MSC, NXT, Ripple and so on.
But they did not launch cryptocurrencies-fiat currencies exchange function (on non-trusted P2P network), why?
Because there are three of the most difficult points:
1. Real time market order (on decentralized  P2P network)
2. The forking chain is deadly
3. Arbitrate the fiat currencies transfer

We have complete solution to solve the above three problems, but we really can't published it now because of the commercial secrets. If we do that, that is the damage to investors and coinfinder.
We will publish these in an appropriate time, please wait patiently.

[Sleepnbum]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

Thanks for your question,
the system will provide a set of standard transfer process, according to the requirements of steps in to save the transfer records ,The fact that we have already had a plan to judge whether the real line transfer.

More detail please.  We all know bank deposit slips are very ease to fake.  

We all know, before coinfinder, there are many similar system, like BTS, MSC, NXT, Ripple and so on.
But they did not launch cryptocurrencies-fiat currencies exchange function (on non-trusted P2P network), why?
Because there are three of the most difficult points:
1. Real time market order (on decentralized  P2P network)
2. The forking chain is deadly
3. Arbitrate the fiat currencies transfer

We have complete solution to solve the above three problems, but we really can't published it now because of the commercial secrets. If we do that, that is the damage to investors and coinfinder.
We will publish these in an appropriate time, please wait patiently.

So you already have investors?

[wsbnever]

Nice ideas but can't see them getting past the "he said, she said" problem with fiat transfers.  The arbitrator has no way of knowing which one is being truthful.

Thanks for your question,
the system will provide a set of standard transfer process, according to the requirements of steps in to save the transfer records ,The fact that we have already had a plan to judge whether the real line transfer.

More detail please.  We all know bank deposit slips are very ease to fake.  

We all know, before coinfinder, there are many similar system, like BTS, MSC, NXT, Ripple and so on.
But they did not launch cryptocurrencies-fiat currencies exchange function (on non-trusted P2P network), why?
Because there are three of the most difficult points:
1. Real time market order (on decentralized  P2P network)
2. The forking chain is deadly
3. Arbitrate the fiat currencies transfer

We have complete solution to solve the above three problems, but we really can't published it now because of the commercial secrets. If we do that, that is the damage to investors and coinfinder.
We will publish these in an appropriate time, please wait patiently.

So you already have investors?

NO, Confinder IPO just yesterday!

[msc_de]

wait 12.5.2014 

[ivy]

good project

[endlesslove]

Today is the last day of the second stage IPO?

[madalieninvader]

Is this project dead? No posts since May.