BitcoinSeat

[Netpyder]

What does a seat means :

a seat is a group of people joining hands together to make a certain fix amount of money circle around them for a certain number of duration.

example;

30 people enroll in a seat.
each invest 1 bitcoin (just a random amount)

they choose for how long the seat will go ( days month weeks year)

suppose they choose weeks.

30 person means 30weeks.

week 1 : Mr . 1 gets 30 bitcoins (he can finance his project) [[Mr.2 till Mr.30 invest 1 bitcoin in the seat]]

week 2 : Mr . 2 gets 30 bitcoins (to finance his project) [[Mr.1 and Mr.3 to Mister 30 invest 1 bitcoin in the seat]]

some people would say how much do i need to invest to get 30coins to finance myself.

answer : 1 bitcoin per week

and in the end you will still get 30bitcoins. everybody is able to finance his project for and repayback everyweek

its more like a non interest loan which circles around a group of people for a fixed duration.

well its just an idea for the time being.

up points :

1. many people will be able to finance their project
2. bitcoin will circulate more
3. any amount may be invested as long as all seaters agree to the amount.

drawbacks :

1. not everyone is honest
2. will need a physical ID and a signed paper from everyone who agrees in the seat
3. i will get many negative feedback for this idea

but the idea behind it is cycling bitcoins amongst desired seaters to finance their project and repay back slowly.

i am planning to make a website with all security fields necessary as well as hero member of bitcointalk to be the bankers. but i need advices and more ideas of how to make this run well and get possible seaters.

as long as seaters are honest, things might work out great.

or its just another stupid idea from me..... again
                                                                    *sigh*

[Samperio]

Yes, I would initially jump at saying "no fair for the one at the end of the list", but hey, who am I to question new initiatives?

But I do want to offer some perspective, even if as if a thought experiment.

The bigger the group, yes, the bigger the capital. But those last on the list would have to be way to relaxed about how to invest. How would the advantage or disadvantage in "real wealth" or "real buying power" given how bumpy bitcoin price is compared to other currencies could be compensated as periods and successive receivers of the great amount were on? [for this, think as an extrem case, someone receiving the capital at 500 USD/BTC and the next one receiving it at 400 USD/BTC, theoretically, the first receiver could buy 5 apples where the second one could only buy 4 apples with the same amount of capital] Again, I'm not saying this could not be done.

A great deal of "bitcoin handling experience" would need to be proved for all involved, i.e., a kind of Bitcoin Credit Bureau.

Just some ideas. I'm sure many more will give more down-to earth perspective that mine.

S.

[Netpyder]

no. actually you are right..
after posting that came to my mind

but the amount can relatively be reduced for like 4 seaters per cycle which makes the price not really sturated but yes, its crypto, can go high up or low down in matter of seconds.

4 seaters will get an equivalent of a month with 1 per week. makes it not that tough now. and 4bitcoin is quite an amount for a small project.

of course the intiate aspect of seating is not to give out big amount and expect bigger quickly

its to cycle the bitcoin and give others opportunity to use the required amount

for the banking system i already have my idea mingling in my head, if people agrees to seating, i will need 3 hero members for the document handling. and the public crypto bank handling for the 3hero member to distribute the coins to seaters when the time comes.

i need more ideas people.

i am glad at least one person replied me. i thought i would get an empty post thread. thanks

[Samperio]

Well, who knows how this prospect might evolve.

If it is actually well received and gets rolling, you will probably move this thread to the "Lending" or "Securities" forum.

Bests,
S.

[Netpyder]

thank you for the encouragement.
much appreciated.
for the time being its on the dead track. maybe one day or if some senior members give it a little push..
nevertheless, if well organised and all securities met. i think this might work

[Possum577]

I think the idea is great, one challenge I see is what if the projects don't return the initial investment? Are all investors then out of that investment? That's fine as long as everyone is aware of that risk.

[Netpyder]

no actually regardless their investment. the seaters will definitly have to pay their bitcoins at due date.

its not made up for seaters to set a 1 bitcoin seat per week but rather a 0.5btc seat per week for say 4weeks.

1.50 additional bitcoins to set up their project when their turn arrives

but definitly pay their seat at due date. their investments have nothing to do with their seat.

i dont know if i am explaining well the aspect of it.

i have the idea in my head and i know i have problems in writing. probably a lot of people are not understanding me. but ask your questions i will try however i can to reply you.