znort987 (OP)
Early bitcoin miner
VIP
Member
Offline
Activity: 72
Merit: 12
|
|
March 26, 2012, 05:51:10 PM Last edit: April 22, 2013, 10:29:55 PM by znort987 |
|
z
|
|
|
|
ineededausername
|
|
March 26, 2012, 05:52:52 PM |
|
It shouldn't be too hard, since you're just adding another table of loans and repayments.
|
(BFL)^2 < 0
|
|
|
copumpkin
Donator
Sr. Member
Offline
Activity: 266
Merit: 252
I'm actually a pineapple
|
|
March 26, 2012, 06:13:40 PM |
|
Folks,
I'd like to start a discussion on a controversial idea : a credit rating agency for the bitcoin world.
This is likely to be both controversial because of the anonymity aspects (or loss thereof) and interesting because of the technical implications of what can be achieved in that space via use of the blockchain.
So, here's the kick-off idea: how about we extend bitcoin-otc to allow registered users to record every loans extended, to who they are extended, and the full repayment history ?
This would extend the web of trust model to a point where anyone would be able to check the current debt balance of anyone. It also would show how much money a given borrower can be entrusted with as opposed to the current model that measures how "trustworthy" someone is based simply on the number of successful transactions.
Thoughts ?
reeses and I have discussed this before, and if you look back a bit on this forum you'll see me proposing similar ideas. I think it's a useful proposal, but so far nobody has stepped up to implement it (reeses started on something, and I'm working occasionally on something related as part of a larger project). I'm all for it, obviously
|
|
|
|
Red Emerald
|
|
March 26, 2012, 06:26:25 PM Last edit: March 26, 2012, 09:50:12 PM by Red Emerald |
|
I think building on top of the OTC web of trust is a good idea. You could provide a web interface that makes it easy for less technical users to create and use GPG keys and rate other users.
|
|
|
|
koin
Legendary
Offline
Activity: 873
Merit: 1000
|
|
March 26, 2012, 09:22:31 PM |
|
This would extend the web of trust model to a point where anyone would be able to check the current debt balance of anyone. It also would show how much money a given borrower can be entrusted with as opposed to the current model that measures how "trustworthy" someone is based simply on the number of successful transactions. there are five Cs to credit: http://www.investopedia.com/terms/f/five-c-credit.asp
|
|
|
|
coin_toss
Member
Offline
Activity: 117
Merit: 10
|
|
March 26, 2012, 11:20:06 PM |
|
Definitely a good idea. This would help prevent scammers and defaulters from getting access to loans, which can only reduce the interest rates charged by current lenders. This will in turn draw in more borrowers into the system. You may even start to get users signing up to bitcoin specifically to borrow or lend money - which would be a great thing.
The loss of some anonymity and privacy due to having some of my transactions listed (and presumably linked to) in a central database is a sacrifice that I (and many others) would be willing to make. There will probably always be lenders operating outside the system anyway, for those who are not willing to make this sacrifice. Alternatively, users can make use of a mixing service so that it doesn't matter if their transactions are recorded for all the world to see.
OTC is a joke, and is really holding back the current bitcoin lending/borrowing market imo.
|
|
|
|
finway
|
|
March 27, 2012, 03:03:59 AM |
|
Bitcoin needs Credit Agency.
|
|
|
|
BurtW
Legendary
Offline
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
|
|
March 27, 2012, 05:22:38 AM |
|
Interested.
|
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
|
|
|
guruvan
|
|
March 27, 2012, 02:27:11 PM |
|
Running it on top of the OTC WoT is a great idea, I think.
|
|
|
|
marked
|
|
March 27, 2012, 04:43:45 PM |
|
What information is going to be collected, and where is it stored?
As a more formal organisation, in which jurisdiction will data protection laws be enacted?
marked
|
|
|
|
JWU42
Legendary
Offline
Activity: 1666
Merit: 1000
|
|
March 28, 2012, 02:30:27 AM |
|
Like the concept...
|
|
|
|
bbit
Legendary
Offline
Activity: 1330
Merit: 1000
Bitcoin
|
|
March 28, 2012, 06:11:11 AM |
|
Watching .
|
|
|
|
cablepair
|
|
March 29, 2012, 04:52:38 PM |
|
this is a great idea, I hope it comes to fruition
|
|
|
|
|
tgmarks
Donator
Hero Member
Offline
Activity: 490
Merit: 500
|
|
April 04, 2012, 02:46:20 PM |
|
I like this a lot. Its hard to establish history as one starting out in this community unless you have a pile of bitcoins to start buying stuff. A clearer, more detailed reporting would go along way to see the level of response and trust as opposed to just a +1 by someone.
|
|
|
|
conspirosphere.tk
Legendary
Offline
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
|
|
April 04, 2012, 07:13:26 PM |
|
it would be a good idea (like western civilization).
|
|
|
|
CecilNiosaki
|
|
April 05, 2012, 03:59:47 AM |
|
I am also incredibly interested in this. In the meantime, I wonder why loan companies do not have a public blacklist in use. There is the scammers sticky, but that's remotely the only thing close to it that I saw.
On a temporary blacklist just have:
Lender Lendee Date of Loan: Loan Terms:
That in itself would give a ton of information that would be useful, I'd imagine.
|
|
|
|
|