update 09/12. chungenhung deposits, 0BTC available, 4% for 30 days

[imsaguy]

To be honest, that otc rating system is too complicated for 99.99% of the people. To be honest, I'm just too lazy to follow the step by step guide.

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[bitcoinTrader]

To be honest, that otc rating system is too complicated for 99.99% of the people. To be honest, I'm just too lazy to follow the step by step guide.

[chungenhung]

So far, 1671 people have manage to sign up for the rating system on #bitcoin-otc. Looks like it's doable.

I have no problem learning how to use it, but would others do too is the question.

That sounds kind of arrogant. So you're saying YOU could do it, but others are too stupid, so why even bother? Good luck finding customers with that attitude.

No, that's not what I said.
My opinion is that the system is just way too complex for a simple rating system.
I can bet you, out of every 1000 people you ask randomly, nobody even know what the heck is gpg identity.
You also proved it yourself. "so far, 1671 people have manage to sign up". WOW, a full 1671 people out of a global internet user base of billions.
Like I said, nothing is wrong with the system, I am just saying it is too complex for 99.99% of the population.

[grue]

So far, 1671 people have manage to sign up for the rating system on #bitcoin-otc. Looks like it's doable.

I have no problem learning how to use it, but would others do too is the question.

That sounds kind of arrogant. So you're saying YOU could do it, but others are too stupid, so why even bother? Good luck finding customers with that attitude.

No, that's not what I said.
My opinion is that the system is just way too complex for a simple rating system.
I can bet you, out of every 1000 people you ask randomly, nobody even know what the heck is gpg identity.
You also proved it yourself. "so far, 1671 people have manage to sign up". WOW, a full 1671 people out of a global internet user base of billions.
Like I said, nothing is wrong with the system, I am just saying it is too complex for 99.99% of the population.

My opinion is that bitcoin is just way too complex for a simple currency system.
I can bet you, out of every 1000 people you ask randomly, nobody even know what the heck is bitcoin.
You also proved it yourself. "so far, 1671 people have manage to sign up". WOW, a full 1671 people out of a global internet user base of billions.
Like I said, nothing is wrong with the system, I am just saying bitcoin is too complex for 99.99% of the population.

[copumpkin]

So far, 1671 people have manage to sign up for the rating system on #bitcoin-otc. Looks like it's doable.

I have no problem learning how to use it, but would others do too is the question.

That sounds kind of arrogant. So you're saying YOU could do it, but others are too stupid, so why even bother? Good luck finding customers with that attitude.

No, that's not what I said.
My opinion is that the system is just way too complex for a simple rating system.
I can bet you, out of every 1000 people you ask randomly, nobody even know what the heck is gpg identity.
You also proved it yourself. "so far, 1671 people have manage to sign up". WOW, a full 1671 people out of a global internet user base of billions.
Like I said, nothing is wrong with the system, I am just saying it is too complex for 99.99% of the population.

Uh, we're comparing it against the bitcoin population, not the global internet one. A lot more than 1671 people actually use GPG in the broader tech world. 1671 is bitcoin-otc users, which considering that the IRC channel only contains around 300 people at any given time, isn't all that bad.

The reason for gpg is simply to be able to verify that you are indeed who you say you are. There are other ways of doing this, but they usually involve a trusted third party to broker the transaction so that you can associate the counterparty in your transaction to their reputation. On IRC, if some dude pops up claiming to be copumpkin and pointing at his (my) WOT reputation online, it could easily just be some web IRC user who browsed the WOT listing and picked someone with decent ratings. They could then proceed to scam people under my name, thereby not only scamming the users but destroying my reputation. We therefore require people to prove, using GPG, that they are indeed who they say they are. Unfortunately, this scheme still currently revolves around a trusted third party (nanotube and his bot gribble), but the system doesn't need to, in theory. I'd posit that a decentralized cryptographic system like GPG is the "natural" way to add optional identity and reputation to a decentralized and anonymous currency like bitcoin. And as another poster has already pointed out, all your arguments against GPG could easily be thrown at bitcoin too.

[chungenhung]

Totally agree that bitcoin is too complex for the lame people in its current form.

Yes, PGP might be able to prove you are really who you say you are. BUT, someone can also point a gun at you, and tell you to lie, or steal your PGP key. Thus, PGP is useless in that scenario.
Heatware.com provides a rating system. If you think someone else is simply pointing to another people's account, you can always ask them to send you message from his heatware account.
But, once again, someone can also point a gun at me and force me to lie.

So if you are that picky, no system is safe.

[copumpkin]

Totally agree that bitcoin is too complex for the lame people in its current form.

Yes, PGP might be able to prove you are really who you say you are. BUT, someone can also point a gun at you, and tell you to lie, or steal your PGP key. Thus, PGP is useless in that scenario.
Heatware.com provides a rating system. If you think someone else is simply pointing to another people's account, you can always ask them to send you message from his heatware account.
But, once again, someone can also point a gun at me and force me to lie.

So if you are that picky, no system is safe.

Sure, extreme cases always break anything. Rubber-hose cryptography and the like. But the point of this shit is to raise the bar for scammers and have fewer people to trust, and GPG does a good job at that.

[chungenhung]

Totally agree that bitcoin is too complex for the lame people in its current form.

Yes, PGP might be able to prove you are really who you say you are. BUT, someone can also point a gun at you, and tell you to lie, or steal your PGP key. Thus, PGP is useless in that scenario.
Heatware.com provides a rating system. If you think someone else is simply pointing to another people's account, you can always ask them to send you message from his heatware account.
But, once again, someone can also point a gun at me and force me to lie.

So if you are that picky, no system is safe.

Sure, extreme cases always break anything. Rubber-hose cryptography and the like. But the point of this shit is to raise the bar for scammers and have fewer people to trust, and GPG does a good job at that.

Totally agree with you.
For me right now, I am not feeling the need to get on bitcoin-otc.

[chungenhung]

there are still room for some more.

[chungenhung]

added more reps to OP

[chungenhung]

Massive price drop. Need more coins

[chungenhung]

still need 300BTC.

[chungenhung]

Received 50BTC from ShadowAlexey.
Loan from March 5 to April 4, at 10% rate per 30 days.
Will pay back loan to 1NgQqWzvqWcW9kA7y478m4cQHT8CyQFakM

[ShadowAlexey]

Received 50BTC from ShadowAlexey.
Loan from March 5 to April 4, at 10% rate per 30 days.
Will pay back loan to 1NgQqWzvqWcW9kA7y478m4cQHT8CyQFakM

Confirmed, correct.

[chungenhung]

Received loan from xxx whom want to be anonymous.
Received a 200BTC loan on March 6.
10% interest will be paid every 30 days.
Payment and eventual withdrawal will be sent to 13YHSCmNzLD5bGkyag9BUFwHprGQKp6WAG

[chungenhung]

Received loan from xxx whom want to be anonymous.
Received a 100BTC loan on March 8.
9.33% interest will be paid in 28 days. Then, this 100BTC loan will merge with the above 200BTC to have the same start/end date.
Payment and eventual withdrawal will be sent to 13YHSCmNzLD5bGkyag9BUFwHprGQKp6WAG

[chungenhung]

Received 25BTC from "conspirosphere.tk", loan from 2/14 to 3/15. Payed 3.25BTC interest to 1BfQvHkmNJ8sFZ2xNZrdiuv5BZavk2uWNT
The 25BTC loan will be renewed from 3/16 to 4/15, at 10% rate.

[chungenhung]

updated availability

[chungenhung]

Repaied S. Omega 235.7834BTC. Payment sent to 1MuyR4bbFqrPoQjrj5n3BK6uNWCWhVU8rN

[chungenhung]

Received 50BTC from der_meister.
Repay 4/30, 55BTC.