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jme621
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August 11, 2012, 12:50:43 AM |
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I have no particular use for a credit score - I assume you're talking something USA based. That doesn't help in the framework that is essentially non-recourse loans.
If a personal credit score isn't considered, potential customers might conclude they have no particular use for the rating service you are offering. There is a strong correlation between one's credit score and their ability and willingness to repay loans.not if they got a back stabbing exwife who F**ked up their credit score just to be a spiteful B**CH  |
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casascius
Mike Caldwell
VIP
Legendary
 Offline
Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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August 11, 2012, 02:42:38 AM |
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not if they got a back stabbing exwife who F**ked up their credit score just to be a spiteful B**CH How does one go about doing that? |
Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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nimda
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August 11, 2012, 05:34:02 AM |
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| 1 Starfish | Bad Risk | up to 10BTC paying 50% for first claim | | 2 Starfish | - | up to 25BTC paying 60% for first claim | | 3 Starfish | - | up to 100BTC paying 70% for first claim | | 4 Starfish | - | up to 250BTC paying 80% for first claim | | 5 Starfish | Trusted | up to 1000BTC paying 90% for first claim |
At first I thought it wasn't wise to have the lowest "insurance" be 50%, but then I realized what you did there, you clever asteroidea. 50% of 10BTC is 5 BTC, the price of the rating  Nice work  |
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cablepair
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August 11, 2012, 06:24:48 AM |
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this is great.
how does one go about finding out their own personal credit score?
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nimda
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August 11, 2012, 02:43:44 PM |
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this is great.
how does one go about finding out their own personal credit score?
If you're lending, you just ask him. If you're borrowing, it'll cost you 5 BTC |
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coinft
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August 11, 2012, 04:09:16 PM |
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How do we verify someone's rating apart from a PM to Patrick?
Maybe a pgp signed star fish certification, with a well known public key. Or Patrick publishes all ratings, but I am sure not everyone rated would want that in public.
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PatrickHarnett (OP)
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August 11, 2012, 09:48:14 PM |
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How do we verify someone's rating apart from a PM to Patrick?
Maybe a pgp signed star fish certification, with a well known public key. Or Patrick publishes all ratings, but I am sure not everyone rated would want that in public.
That's what the reserved post #2 is for. I was going to add some of the most reputable borrowers to give an idea, and then got distracted working out how to insert a small starfish image - I'll be working on it today. |
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finkleshnorts
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August 11, 2012, 10:39:14 PM |
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How do we verify someone's rating apart from a PM to Patrick?
Maybe a pgp signed star fish certification, with a well known public key. Or Patrick publishes all ratings, but I am sure not everyone rated would want that in public.
That's what the reserved post #2 is for. I was going to add some of the most reputable borrowers to give an idea, and then got distracted working out how to insert a small starfish image - I'll be working on it today. So that's what "reserved" means. I have been trying to figure that out for the longest time. At first I thought it had to do with GLBSE for some reason. |
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AndrewBUD
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August 15, 2012, 12:59:10 AM |
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I just noticed this today for the first time while reading a thread.... Great idea man...... |
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365 |
TM | | | |
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waltmarkers
Member
Offline
Activity: 104
Merit: 10
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August 15, 2012, 02:27:46 AM |
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I think this is a great start. I think over time several of these will merge into a bitcoin Transunion type rating. This will become much more important as we see more BTC revolving accounts.
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bigasic
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August 19, 2012, 02:13:18 AM |
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As someone who is considering being a lender, this is fantastic... I have wanted to do loans, but the risk was always higher than the reward for me, this will help leveling the playing field...
Great idea..
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PatrickHarnett (OP)
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August 19, 2012, 02:27:48 AM |
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It is buried in another thread, but the only person who approached me about a rating backed out. Why, because I asked for the same information I would of any other loan I might undertake including a photo ID. They didn't trust me enough to provide it. Result, zero Starfish because I'm not about to provide funds to someone if they can not even front up with something simple like that.
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nimda
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August 19, 2012, 02:51:51 AM |
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PatrickHarnett (OP)
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August 19, 2012, 02:56:55 AM |
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I was looking at the image insert last week - didn't quite get it the way I wanted - thanks for supplying some code |
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nimda
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August 19, 2012, 03:00:22 AM |
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You're welcome Offtopic: you can also supply width and/or height:  |
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PatrickHarnett (OP)
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August 19, 2012, 08:51:31 PM |
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You're welcome Offtopic: you can also supply width and/or height: Given the inspiration from Nimda, I've put a couple of sample names/ratings into post#2. |
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nimda
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August 19, 2012, 10:11:28 PM |
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Than Jolg WI
Newbie
Offline
Activity: 23
Merit: 0
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August 21, 2012, 02:48:17 AM |
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What are the criteria for the different credit ratings? And what is the info you will be needing?
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PatrickHarnett (OP)
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August 21, 2012, 03:04:02 AM |
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A rough and quite arbitrary/subjective guide:
How do you get a five starfish rating like Giga? Borrow multiple thousands several times and repay on time/in full/no fuss.
How to get a four-Starfish rating like Slider1978? He has completed two loans ( a few hundred coins each) running more than half a year. Good communication, prompt payments. Extremely solid track record.
A three-starfish rating would require a decent OTC or referral from one of the other regular lenders. i.e. a track record. Strangely enough, I've done quite a few transactions with Bitlane (even if he is mad as batshit sometimes - see zero starfish below), but he's been reliable in my trading with him.
A two starfish rating would require a decent amount of ID, plus something that you have that is at risk like your online reputation. Particularly useful for people like forum staff, those that have bitcoin businesses or a ton of posts about sensible things. You might have completed a small trade/loan with someone else.
A one-starfish rating means worth risking a small loan, but not established.
How to get a zero-rating? Complain about having to provide any information and that Bitcoin should be anonymous - forget it. Previous default, dodgy dealings, or just being a pain in the ass generally.
Copied from a message I prepared for someone last week:
Ok, the usual stuff is for you to email me some information - better if it's from a work email or a non-free account, but I understand people have gmail accounts - send to <email> (and yes, this stuff is confidential, and what I would ask for doing a loan)
Date of birth, phone, address, photo ID showing address and/or DOB is good (might be more than one doc). A passport can be handy.
Do you have a job and who? (Basically, that's evidence to help identify you with an address and a person.)
Online presence - personally I don't use facebook, but many do. What other online communities would verify/vouch for you.
Trading? On the forum, OTC-web of trust? What are you putting at risk if you fail to repay a loan?
(i.e. some people have invested years building reputation and pulling a simple scam for a few coins wouldn't be worth it)
Repayment ability - how are you going to manage this? Do you mine, have some sort of fancy trading strategy, or simply going to put money from day-job into coins to cover things. Can you provide collateral?
Essentially, the more you can prove you are real and honest, the better. Some people on the forum don't understand that, and some ID elements can be faked.
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SaltySpitoon
Legendary
Offline
Activity: 2590
Merit: 2156
Welcome to the SaltySpitoon, how Tough are ya?
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August 23, 2012, 08:54:07 PM |
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Do I get a special rate if I let you into the SaltySpitoon? You did get in a fight after all, even if you did lose. But you are a world champion kickboxer, so I guess its alright.
On a more serious note, is there any way to get a star fish rating without personal ID and stuff? I know you say that its money, so anonymity doesn't matter, but what if you have forced anonymity?
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