look for someone who can build this with me

[Q1000000]

Hi,
I am considering a system that allow depositing BTC and issue a proof of that to change for money. I think it can help to create more liquidity for the current and future BTC world.
If you think this idea maybe helpful and able to do the technic stuff. Welcome to reply or message me!!

[LoyceV]

I am considering a system that allow depositing BTC and issue a proof of that to change for money.

That sounds like Bitcoin-backed loans, and it exists already.

If you think this idea maybe helpful and able to do the technic stuff.

So you have an idea that already exists, and want someone else to do the work for you? What do you bring to the table?

[noorman0]

Hi,
I am considering a system that allow depositing BTC and issue a proof of that to change for money. I think it can help to create more liquidity for the current and future BTC world.
If you think this idea maybe helpful and able to do the technic stuff. Welcome to reply or message me!!

Is this some kind of IOU debt? Imagine, in the past, you deposited gold in a bank, and then the teller gave you toilet paper, which they now call paper money, that could be exchanged for goods and services.

Yep, this is a brilliant idea, following in the footsteps of the collapse of Celsius, FTX, and Blockfi. It's the same scheme.

[yhiaali3]

The first flaw in your idea is the loss of the decentralization advantage, since, as we know, Bitcoin was designed to be without an intermediary, while this system reintroduces an unreliable human or institutional intermediary.

What guarantees that there will be no duplication of issuance? Because the entity responsible for holding Bitcoin may issue more proofs than the amount of Bitcoin deposited, leading to a collapse of trust, which has happened in some banks previously or in some stablecoins.

[Yamane_Keto]

I am considering a system that allow depositing BTC and issue a proof of that to change for money. I think it can help to create more liquidity for the current and future BTC world.

what you're trying to describe is something closer to L-USDT (Liquid Tether), a Bitcoin layer-2 sidechain. Unless it includes a lending mechanism or incentives, it won't create more liquidity, or it will be backed by US Treasury bonds. It's something that already exists.

[d5000]

The only protocol I know which allowed to create Bitcoins "out of thin air" (and thus increasing Bitcoin liquidity) without compromising the onchain 21 million limit and without needing an intermediary (sacrificing decentralization), was BitBTC on the BitShares altcoin chain.

However, that protocol didn't involve any Bitcoin locking. It was a purely algorithmic asset based on overcollateralized contracts for difference based on the BTC/Bitshares price. Basically, it were Bitcoin tokens backed by (overcollateralized) altcoins. It ended working quite good for some time, but was never popular, in contrast to the BitUSD token on the same altchain which was for some time the most popular semi-decentralized stablecoin. And the altchain was later basically abandonded as their founders moved on to another altcoin project (EOS).

There is a slightly similar idea to yours here (cBTC). This one would involve a partial Bitcoin backing. But I'm quite skeptical that it can work.

[BattleDog]

So let me get this straight... you want to create a system where people deposit BTC with some entity, and that entity issues IOUs that can be traded around?
Others have already said it but yeah, this exists. Multiple times over. And the track record isn't great, just look at stuff like Celsius, BlockFi, FTX, etc.

It turns out when you trust a third party to hold your BTC and issue paper against it, sometimes (more often than you'd think) they do sketchy things with your BTC.
The whole point of Bitcoin is not needing to trust an intermediary, and your idea reintroduces exactly that.

[UmerIdrees]

If you think this idea maybe helpful and able to do the technic stuff.

So you have an idea that already exists, and want someone else to do the work for you? What do you bring to the table?

I am not sure what he may reply to this but maybe once anyone wishes to work for with him, the next thing he may demand some funds to even start the project or like asking him to share the startup funds as well as develop the whole project too 

If i were that person, why would I be developing for him for the Idea that is not unique, I could have done it for myself alone 

[SmartGold01]

I think before anyone would be that ready to deal with you or even partner with you based on your idea you should be thinking what if that has already been existed and what much work have you done to make sure that it would truly attracts someone to join to you in making your vision comes true? Before this I wouldn't mind telling you that almost 80% of the work load should be done by you while the person comes in for funding.

[bitbollo]

Are you expecting to pay this user or just share a % of profits?
the idea itself can be interesting even if this doesn't sound fresh. however I would focus more on "the latest part" because probably you need some legal expert or some one that could help to build the "regulatory" part...
These services could be built easily (with AI and repository even a non tech could provide a first demo) but the problem start later if you want to launch officially a product.