Bitcoin Forum
December 10, 2016, 02:56:14 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Proposal for trade management website  (Read 778 times)
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
May 01, 2011, 02:22:30 PM
 #1

The site does not handle payments at all.

Each user has a profile (payment methods they accept, comments from other users, etc) and a list of other users with whom they trust enough to trade with or run a tab for and up to what amount.

Bids and asks are placed like on MtGox. They will only be available to users who are on your trusted list.

When an offer is accepted the system will record the obligation that each participant has to the other. Participants settle and the obligation is cleared when both report payment.

When there is no hurry and obligations sit for a while there is a chance they will be reduced by trades in the opposite direction. This would save on fees or hassle. Furthermore, traders with mutually trusted parties can have their obligations netted out.
 
Since we're already dealing with the trust issue it might be easy to get an options market going here too.

People with no trust could even prepay to any well trusted member. Noob sends me $100 on PP. I create an obligation to pay him $100 and now anyone who trusts me will be willing to sell him up to this amount in return for that obligation because they know I'll pay it.

If anyone is interested in developing something like this I'd love to help, but I can't do it myself. I don't have any ideas on monetizing, but I'd still be willing to front some money to someone who is sure they can do this. Suggestions for a name that gets the idea across are welcome too.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!