Topic: Open "BitCoin Credit Agency" UPDATE (Read 3206 times)

It's one way of doing it, not the only way.  Different approaches after all.  For instance https://bitcointalksearch.org/topic/--97214

Also consider https://bitcointalksearch.org/topic/to-all-bitcoin-lenders-95372
or even this one from the beginning of the year: https://bitcointalksearch.org/topic/proposal-for-cumbersome-loan-protocol-that-allows-secure-credit-ratings-61545

Like many things, the solution will arrive and a method will get formalised. 

I'm curious.

Why would I go out and verify my identity at yet another credit agency that can't possibly keep my ID safe either? The major credit agencies already have my data in Canada  and the US and I can grant permission for a lender to check them. If I was borrowing (or trying to ) let say 1000 BTC and I signed the loan agreement, then the pass through touch via credit bureau could be current fiat value at last average and the lending agreement could simply be for original loan amount converted to fiat or the balance on the default date converted to fiat whichever is higher.

Guess what I'm saying is someone needs to leverage their existing pay day loan franchise and use the existing the existing credit scheme. It's not all that expensive and for those seeking non scam loans it would still keep everything in BTC for a small fiat fee.

I'm not saying there's not a place for a more casual approach, just that I wouldn't use it to lend someone money of any kind.

Site being updated, No cost to borrowers free I.D for life, Your identity is backed by a 10BTC promise. If its our fault your details were stolen we will pay you! No cost to borrower, it does not make sense to charge someone who needs a loan, to get a score. That's kinda what sub-prime lenders do charge you a service fee to get the loan. Borrowers are get 1 free credit score per 2 month period, and can dispute anything on there report, With SOLID PROOF! The first 2 weeks is free for EVERYONE! I have a global verification company that I am talking to right now for verifications. More details SOON.

No but I worked In finance, and my GF still is still in it. I have processed over 5000 real USD loans, 2 years before I went in the Marines and 1 years after I got out. Due to my injury in the Marines I can not type fast enough to stay in the sector, good thing the Marines still pay me .

You cant do bitcoin credit ratings by simply filling out a questionaire on a website. You need a lot of experience in actual bitcoin lending.

Have you even lent out any coins at all yet ?

Not to worried about that

https://bitcointalksearch.org/topic/starfish-personal-credit-ratings-99660

This is how you do it.

Got A little mock up here Need some alpha testers to go sign up and check some scores for me,
Check Score Numbers Please post the score below so I know it works
111111114
111111112
111111116

Also Need some people to register you can use fake stuff Just need to make sure My system is working right.
http://bitcoincredit.sharepoint.com

Here's something I believe would be more effective as an anti fraud preventable measure:

Karma.

Lmfao Like the Dr. Gonzo picture def one of my fav authors.

Damn dude. Now you just reminded me that I need to suggest /r/girlsgonebitcoin to my girlfriend.
I can't be the only one to bring the b(a/(it))co(i)n home lol

*bye

and it is called hustle, you do what you have to do

Would you suggest the same thing to your Boyfriend/Girlfriend Husband/Wife? Or would you be offended if someone told you your other should be a stripper?
I don't know maybe I was raised with these things called Manners but there few and far between as we can see from above.
Have A Nice day and good by 

Explain how that was offensive? Wait so are you judging the girls on there for their hustle to make bitcoins? They make good bitcoins. I was being serious it probably easier than a lending credit site.

No need to be offensive.

tell your gf to get into http://www.reddit.com/r/girlsgonebitcoin that is better for her she probably make more there than a lending credit site

You can judge me on how I write all you want, I was injured it makes it hard for me to type. I could make you feel like a real *** for making that comment ,but I won't cause I'm a bigger person then that. This is my Girlfriends project, she wanted to get involved with the Bitcoin world this was an open area I seen. Here some more cookies

clearly you have no idea how to fix them, and believe me no one will steal your idea LOL


Critical thinking is how you solve issues, I really wasn't going to judge you on how you write, but I am rethinking that quickly. If you were smart you be searching the other threads, and looking at real world situations. Plus your starting another company I really don't see how you have time to put into an issue that requires a lot of time. HENCE why not everyone has lending credit site.

Its ok dude, just breath......... If I was to tell you how I would fix everyone of the problems you laid out, whats to stop you from going and making a site and system?
There is being critical and being constructive, when people usually ask for input it means constructive. When you ask someone for some money or why you failed then critical comes into play. If anyone has anything constructive to add to this convo then Ill be glad to respond, and I never attacked you.

I didn't bash it, I am critical of it and most people agreed with what I said. If you searched the forum, before posting your idea, you would have find out that people have posted the same exact idea a couple of times, and you have the same holes as them. If your a smart business person you would then probably go back tweak it, and post it again, instead of attacking me, who was helping you by pointing those gapping holes out to you since you clearly didn't see them.

Well..... That's kinda why I asked for input lol for research just saying. Some people will hopefully post with some information that may be helpful while others just bash the idea and person to toss it out there.  Kinda like vokains post or badbitcoin they don't just bash the suggest. So like I learned from good old Uncle Sams Misguided Children don't complain about the problem unless you have a solution other wise its just noise.

this has nothing to do with work ethic, this has to do with research and knowledge and from your first post, I can tell you didn't do the research to make this system work. PLUS I have hear the same exactly system posted 10000000 times before you posted and clearly those never worked out so I do have some insight.

Glade you know me so well  LMFAO dude your insight on my work ethic is classic, ill feed you all day

Sorting out lending it one of those things that would take all the energy and time to solve someone will do probably not BitcoinINV, but I think it can be done.

if i figured it out then you wouldn't be having this discussion
 

I am not being negative, i am being critical and pointing out the flaws you would would encounter and fix as you build.

I don't know about gweedo but I've thought of similar proposals and put some work into thinking about how it could work, and nothing I thought of is as practical as just getting an "eye" of sorts, like when patrick or hash get their "red flags." The new lenders will still get just as burnt with your system, except they would have someone else besides themselves to blame for their misfortune.

"that is anonymity of the my location of my computer,"


I understand this but with anything, if you want something and there is restrictions to getting it, you must go with them.
If you are willing to lend to someone with 100% anonymity then you got  to expect some losses. Im pretty sure thats why when you get credit they want to know where you live, Just saying.

Im really not sure why your so negative about a something that could be helpful. But I'm glad you bring up points to be looked into.
 

that is anonymity of the my location of my computer, what about you asking for my address, name, location, age, that breaks the anonymity of what bitcoin has created.

Yea but your idea is full of holes, and doesn't even block 50% of the fraud, many people bring this same idea up, again and again and the same holes are present, either go back to the drawing board, do research, and come up with a new better way to do loans. That is all we are saying

With that being said there is never 100% block agianst fraud if you make it they will break it!

I've made fake id's before to questionable people, its not hard, really it isn't, unless you have access to a department of moter vechicles database for the location the card is made from, or a SIN database, good luck getting access to either.

IP specific usernames with anymous and proxy blocks will take care of most of that.

I was taking you seriously until I saw facebook listed  
Really. Social network verification is....  

It is called fake ids, it isn't too hard especially since most people are two far to see the actual id, so you have to scan it anyway so yea.

If someone is completely anonymous, they don't deserve a high credit score. Most serious lenders require ID.

+1, this is not an easy task to complete, the best we have so far is the OTC rating system and that is just as flawed, good luck.

Social security number has nothing to do with lending and it is use to keep track of citizens for society rights. Second your talking about a credit score, but the problem is the anonymity of the internet. What if I register a lot account and flood your service with a lot of fake data making it seem that I am amazing lendee, build it up so I can get a loan of 1000 BTC no questions asked cause your service would make me look like a great lendee. But then you combat it with facebook login, now your going against the anonymity that bitcoin provides. This is one of those questions that takes a lot of hard work and time to figure out and I would just move on cause you don't sound like you did enough work to really see the flaws (many more that I can point out) or research on lending and credit.

Something that is direly needed and should be expanded upon. Maybe integrate with the other guy who's trying to create a one stop shop for lending.

Edit: https://bitcointalksearch.org/topic/gauging-interest-all-in-one-service-to-handle-all-kinds-of-deposits-96732

 As I have noticed on here, it is hard to keep track of lendees. I would seem to me that a centralized clearing house needs to be built this is what I am thinking about...... Lenders let me know what you think

Each user is gets a Unique Id " Like a Social Security#"  Lets call it a Bit-curity Number
attached to each Bit-curity number would be

Users Name
Email
Age
Location
facebook
Previous loan history
Bitcurity credit score
Comments from lenders
Forum Name
Employment Length/avg paycheck/pay schedule
----Options----
Verify Identity
U.S Credit check

How the system would work.
For new users they would go to the website and apply for a bit-curity number, for old members that have loans and previous data the lender will send the data, they will be given a number and it will be attached to there account.I Would not ask the lender for any info besides the holders Forum name. It would be up to the lendee to fill out and verify the information. Lenders could come to the site login to there account and put in a bit-curity number and all the lendee credit info would come back, as well as if they are Verified and if they opted for a U.S. credit check. I understand everyone is not from the U.S.
All lendees would be able to obtain there report one time per X amount of time.
Lenders would pay a nominal fee for the use of the clearing house maybe per use or per month whatever would be more logical

How the rating system would work it would give a

Amount of bitcoins in loan right now
Default indicator
Score by number
Score by letter

So it would look something like this

bit-curity #      Loaned    Risk      Score
#1111111111   1BTC        NR       100E


Open to comments or thoughts