https://i.imgur.com/rdKYrme.pngURL:
http://coingoals.comHow It WorksCoin Goals allows you to use bitcoin deposits and prizes as an incentive for you to accomplish the goals you set for yourself. When you set up a goal, you decide how much the goal is worth to you. Knowing that you need to accomplish your goal in order for you to get your deposit back and to win more bitcoins as a prize can be a great tool to help you stay motivated.
If you accomplish your goal, you'll get your deposit back, minus a small 1% fee. At the end of the month, you'll also have a chance to win an additional 100% of your deposit amount as a prize for accomplishing your goal. The month of the prize pool that your goal belongs to is determined by the date that your goal ends. For example, if your goal ends any time during the month of March, you will have a chance of winning a portion of March's pool.
If you do not accomplish your goal, you can still feel good knowing that 100% of your deposit will be distributed to other users as prizes for accomplishing their goals. The idea is to help yourself as well as others in the community with their self-development. Distributions are provably fair (see the FAQ).
What's to stop people from gaming the system and reporting fake goals?First of all, Coin Goals is an experiment to see if a trust-based system where a community helps and motivates each other can work. Users reports their own success themselves, so everything is purely trust-based. I encourage everyone to play fairly so that the tool can work as designed.
Having said that, one way to prevent abusers is to require a fee when funds are returned. Currently, the fee is 1%. A) This will help deter those who simply want something for nothing. B) It also acts a small fee for using the service and will go to pay the bills.
I am fully open to suggestions on how to prevent abuse to the system. Some ideas I've already received:
Idea 1: Return only 50% of a successful goal's deposit to the user, while sending the other 50% to the prize pool. This way, only those that truly want to help others will participate.
Idea 2: Require users to add "accountability" accounts, such as friends or family, which will report the success/failure of goals.
Idea 3: Require that all goals be publicly verifiable. Proof of the success of a goal must be uploaded with the report (such as pictures of proper diets, marathon website time statuses, etc). The community will then decide if a goal is successful or not. This idea can be made an option in addition to idea 2.
If there is interest in this project, then I'll keep developing and managing it. Submit your feedback below or to email:
hello@coingoals.com
