Topic: New idea for safe loans! (Read 784 times)

so you're saying it would not be fair? the people will learn to take responsibility and in time, there's going to be more and more people who can trade. bitcoin is now currency and we need a common accepted rules...

lol.

I think the most secure idea were, to integrate into bitcointalk.org the verified secure certificate. Then the people, which would try to trade, have to upload the valid certificate. Upon the process, the cyber crime authorities - which country of course has them - will be notified. The user will be then brought before justice to judge him for the crime.

Because thats not safe. They could  give the code to the lender and the lender just redeem it and not send btc. Its always possible though. You could simply just give them the moneypak code but it would have to be someone with great trust. With this method you could set up a third party to send both items to and have a 100% guarantee that nothing could go wrong. If they fail to repay the loan then simply cash on their collateral coins. But it's just an idea

Edit: or the collateralcoins website could offer to be the third party making everything even simpler

Why doesn't the lendee just offer the moneypak/whatever as collateral?

To get a loan on bitcointalk.org you must have some type of collateral. Someone should design a coin and premine it all the way out so that they own 100% of the coin. They should then create a website where people can go buy the coin with moneypak, perfect money, etc. Each coin should be valued at 5 dollars since loans tend to be big anyways. When you need a btc loan but don't have time to wait on coinbase or whatever your method is of getting coins you simply go get a moneypak (or whatever forum of money accepted) and go to the collateral website and purchase coins equiv. to the needed btc amount. You then come on bitcointalk.org and make a post for how much btc you need loaned and offer your collateral coins as collateral. If the users fails to repay the btc you just go to collateralcoins.com (just a name. not really the website) and redeem your coins for paypal, moneypak, etc. It would be up to the lender how many collateral coins the person wanting the loan will need to pay you. I suggest doing 125% just in case btc jumps up overnight like it has been doing lately and someone just runs off with your lended btc. With this method their would be one universal form of collateral and make the loan process simple. The only place that you would be able to buy or sale collateral coins at would need to be the website. I don't want to try to implement this idea because it would take to much work for me plus a user with A LOT of trust is needed for this. Let me know what you think about this idea, and if there is a trusted member on the forums willing to do this! I have a sha256 guide that I could give you too so you could build your coin in 4 hours or less.