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Author Topic: The first BTC Debt Collection Agency and DUNS-like database  (Read 3113 times)
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April 27, 2012, 10:20:41 PM

Asking for 60% is a bit high.
I think it depends on the debt. I really don't think this will work with a one-size-fits-all rate for debt purchases. Otherwise, there's nothing to stop me from creating a fake account, lending it some bitcoin, claiming default and then on-selling the debt here for 20%.

Some debt is worth more than other debt!

Yes debt has different value. However, I was looking up debt collectors in the U.K. and they typically charge between 10%-20% depending on the difficulty. Granted, bitcoin debt it a unique animal, but I think if Kaos advertised a range or a maximum purchase price, he could make quite a bit of money. Especially with that DI debt.  Grin

Don't get caught up in the game and have a nice day!
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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April 28, 2012, 11:23:54 PM

Really, your taking on DI's?? Smiley  I still have that outstanding loan with him, cool Smiley

You don't have anyone in Alabama do you? ha ha I have a guy that owe's me around $500 in bandwidth overages, not worth it to take to court, but for debt collection Smiley

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." -Benjamin Franklin 1755
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