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imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

Quote from: payb.tc on February 07, 2012, 11:46:48 PM

Quote from: Hunterbunter on February 07, 2012, 11:27:05 PM

What do you consider a good candidate as a lender?

maybe someone that doesn't nag him to withdraw 0.12 btc everyday for their bittleships addiction?

I'm pretty sure a guy needs more than .12btc to actually play that stupid game. Its not like you're only going to click just one time. It's like bringing a $5 to a casino.

payb.tc

hero member

Activity: 812

Merit: 1000

Quote from: Hunterbunter on February 07, 2012, 11:27:05 PM

What do you consider a good candidate as a lender?

maybe someone that doesn't nag him to withdraw 0.12 btc everyday for their bittleships addiction?

Hunterbunter

hero member

Activity: 994

Merit: 1000

Quote from: pirateat40 on February 07, 2012, 09:09:34 PM

Reasons:

I get requests from people with 1 post wanting an account which means either someone told them or they have a sock puppet account.
I don't want this to spiral out of control, so adding even this small limitation makes my life much easier to manage.
I trust my lenders and trust they know who is a good candidate and who isn't.

If I find that I have lenders referring crappy clients to me I'll hold them responsible, close their accounts and go on about my day. I'm trying to build a core to a much bigger operation here and I think this is the best way to attack it.

Yeah I understand what you're trying to achieve, just not why you thought this would save headaches.

I suppose what I'm really asking, is:

What do you consider a good candidate as a lender?

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

http://www.youtube.com/watch?v=C1_NpLKnWLU

PatrickHarnett

hero member

Activity: 518

Merit: 500

And to compliment the jet-ski, he wants a snow-mobile with flame throwers for when he's carousing in snowy parts.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: Hunterbunter on February 07, 2012, 08:56:34 PM

Quote from: imsaguy on February 07, 2012, 05:48:22 PM

Quote from: Hunterbunter on February 07, 2012, 05:47:04 PM

I don't really understand the referral concept.

Since they're sending you their BTCs, why do you need to trust them?

The same way you need to trust the bank you get your mortgage from.

No, it's more like the bank needing to trust you for accepting money you deposit with them. They're taking your money and paying you interest on it in the same way as pirateat40 is...the depositor is taking the risk that the bank pays interest and doesn't run off with the capital.

In your scenario, you're the one taking the loan, so the bank needs to trust you, not the other way around, and the more they trust you, the more they'll lend you / lower your interest rate.

Quote from: BurtW on February 07, 2012, 06:45:34 PM

I don't think he want to have to deal with a lot of movement in and out.

Yeah that's fair enough, it's just that referrals in the guise of security doesn't make much sense: "this model allows me to limit the new accounts from unknown, new or untrustworthy members."

I understand not wanting to deal with 10000 withdrawals/deposits all the time, and pirateat40 has said as much before, but a referral system will create exactly that. The only thing faster than wildfire is word of mouth.

Reasons:

I get requests from people with 1 post wanting an account which means either someone told them or they have a sock puppet account.
I don't want this to spiral out of control, so adding even this small limitation makes my life much easier to manage.
I trust my lenders and trust they know who is a good candidate and who isn't.

If I find that I have lenders referring crappy clients to me I'll hold them responsible, close their accounts and go on about my day. I'm trying to build a core to a much bigger operation here and I think this is the best way to attack it.

Hunterbunter

hero member

Activity: 994

Merit: 1000

Quote from: imsaguy on February 07, 2012, 05:48:22 PM

Quote from: Hunterbunter on February 07, 2012, 05:47:04 PM

I don't really understand the referral concept.

Since they're sending you their BTCs, why do you need to trust them?

The same way you need to trust the bank you get your mortgage from.

No, it's more like the bank needing to trust you for accepting money you deposit with them. They're taking your money and paying you interest on it in the same way as pirateat40 is...the depositor is taking the risk that the bank pays interest and doesn't run off with the capital.

In your scenario, you're the one taking the loan, so the bank needs to trust you, not the other way around, and the more they trust you, the more they'll lend you / lower your interest rate.

Quote from: BurtW on February 07, 2012, 06:45:34 PM

I don't think he want to have to deal with a lot of movement in and out.

Yeah that's fair enough, it's just that referrals in the guise of security doesn't make much sense: "this model allows me to limit the new accounts from unknown, new or untrustworthy members."

I understand not wanting to deal with 10000 withdrawals/deposits all the time, and pirateat40 has said as much before, but a referral system will create exactly that. The only thing faster than wildfire is word of mouth.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

I don't think he want to have to deal with a lot of movement in and out.

imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

Quote from: Hunterbunter on February 07, 2012, 05:47:04 PM

I don't really understand the referral concept.

Since they're sending you their BTCs, why do you need to trust them?

The same way you need to trust the bank you get your mortgage from.

Hunterbunter

hero member

Activity: 994

Merit: 1000

I don't really understand the referral concept.

Since they're sending you their BTCs, why do you need to trust them?

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote from: terrytibbs on February 07, 2012, 01:11:51 PM

Quote from: pirateat40 on February 07, 2012, 01:05:21 PM

Current Status - Referral Based Only
Opening an account with FPT&S now requires you to have a current lender refer you. Lenders are not paid for referrals so they have nothing to gain from me but this model allows me to limit the new accounts from unknown, new or untrustworthy members.

I'd make a policy prohibiting members from selling invitations. I know of *cough*ineededausername*cough* someone who surely wouldn't mind selling them for a bitcoin or two.

Here's my official line on this: I will not sell referrals to members whom I wouldn't personally trust with at least 100 BTC.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Well, nobody needs a referral right now because storage is still 0 BTC

Otoh

donator

Activity: 3108

Merit: 1166

can someone refer me pse - I'm a great lender Tongue

ask deathandtaxes & imsaguy

'If I had a million dollars or ten then I'd give it to you world and then'

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: pirateat40 on February 07, 2012, 01:05:21 PM

Current Status - Referral Based Only
Opening an account with FPT&S now requires you to have a current lender refer you. Lenders are not paid for referrals so they have nothing to gain from me but this model allows me to limit the new accounts from unknown, new or untrustworthy members.

I'd make a policy prohibiting members from selling invitations. I know of *cough*ineededausername*cough* someone who surely wouldn't mind selling them for a bitcoin or two.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Current Status - Referral Based Only
Opening an account with FPT&S now requires you to have a current lender refer you. Lenders are not paid for referrals so they have nothing to gain from me but this model allows me to limit the new accounts from unknown, new or untrustworthy members.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: mcorlett on February 07, 2012, 12:57:57 PM

I still haven't received my payment. Am I missing something?

? PM me

mcorlett

donator

Activity: 308

Merit: 250

I still haven't received my payment. Am I missing something?

runlinux

hero member

Activity: 566

Merit: 500

awesome post is awesome.

PatrickHarnett

hero member

Activity: 518

Merit: 500

runlinux

hero member

Activity: 566

Merit: 500

Thanks for all your help pirate! I really do appreciate it!

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