Topic: [Proposal] BitFirst.net - P2P bitcoin Marketplace - Buy, Sell, or do Auctions - page 2. (Read 3692 times)

There is an inherent challenge with this approach. The wisdom of crowds is not always right. Trusted accounts can be manipulative or can exercise muscle. Besides, such a method will open the dispute resolution to prejudices and biases of individuals. How can you ensure that they remain cognitive in their decision making?

Ah, that should work then. I think it'll be interesting to see how it pans out. At least it helps ensure that each person (assuming they hit the tie) had an equal chance of being sided with.

Yes it is 5 in total. Buyer and Seller have 2 appeals each - if it is a tie, then the last appeal (5) will be the decider. A special note is that each round, 1 or more Community Member(s) can check all evidence from Buyer/Seller. The Community members will be an odd number group, and each will have equal voting.

Based on the feedback so far the site is going through a redesign now. The original goal was to complete the mockup of the site as fast as possible and get feedback with the concept, then go back and improve the User Interface. However, the concept will be put aside while site User Interface redesign take priority.

Thanks for the feedback (@siarhei, @ranlo and @JessyMatt). Very much appreciated!

Would it not be better to have an odd number of votes then (say 5)? This would ensure that there is always one person with more votes than the other. It can still lead to problems, but I think this is a better method than 4 total.

Yes this is one of the biggest problem to solve. Both sides have 2 appeals (4 in total). If still 2 vs 2 outcome for Buyer and Seller, then last appeal is final (costs too much time as it can go on forever). Each round of voting will be different people and the number of people can be any amount greater than 1 person. 5 rounds of voting is a lot. Basically trade with your Peers carefully and select your Peers carefully. Put special filters on your trades and weed out the bad apples. The system will be strong with an excellent rating, reputation and filter system. When all goes well, everybody will be happy. If not, then the system can be tweaked based on the BitFirst community.

Updated Donors section in OP (in bold)
Donors will be given Bits for recognition for their kind donations, and will put into the Hall of Fame as recognition (It will be their Internet Name). Donors can sell their recognition to others if they wish. There will only be a fixed amount of bitcoins needed to get BitFirst to operating Live. Once Live, there will be no more request for donations so no more Bits will be given out. Donors will be given first come first serve basis, and their Bit allocation will given on a time weighted scale. This will hopefully get Donors in faster as the early Donors will be recognized more.
Formula: Bits = bitcons donated x (total days waiting for full donation - day number of donation) / total days waiting for full donation x total bitcoins donated
This means if Donor donated 1 bitcoin within 1 day compared to another Donor that donates on the last day, the one donated first gets more Bit recognition.

The BitFirst Community will also give incentives to Donors for their kindness.

Hi kittucrypt,
Thanks for the message. All private keys will not be on the BitFirst website itself. They will be on different servers with different domain names, and these will also be client side and server side encrypted, so server will not have access to the private keys. Servers will call one another, so even though Users are on the bitfirst.net site, it can call to different servers with different domain names (so they can access directly with bitfirst.net or the other allocated domain name). So the private keys are in the BitFirst community network of servers (decentralized, distributed and encrypted).
    3rd Party - BitFirst Trusted Community Member
      Community Members will be anonymous to Buyer and Seller
      Only used when Buyer or Seller request Trade Dispute
      3rd Party will find best outcome for Buyer and Seller
      If Buyer or Seller not happy with Trade Dispute outcome, they can request Resolution Dispute
        Resolution Dispute
          More Trusted Community Members will be Called upon
            Community Auditors will investigate both Buyer and Seller
            Additional questions will be requested and Answers should be given
            Community Jury will be called upon to vote
              They can request additional information for Auditors to investigate
              If Buyer or Seller still not happy with outcome
                They can request 1 more group of Community Jury to vote
                Each Buyer and Seller can request 2 Dispute each
                Max dispute for each trade is 4 times
                  If both Buyer and Seller have even outcomes
                  5th Round of voting can be requested and it will be final and binding
                Both Buyer and Seller cannot interact with each other again to prevent future problems
        Verdict by Voting style involving Trusted Community Members [anonymous and binding]

What do you really mean by 3rd key with the community? For this to work well, the key should probably be with the website and not out in the community.

Hi JessyMatt,
The site is up www.downforeveryoneorjustme.com/www.bitfirst.net
DNS https://www.whatsmydns.net/#A/www.bitfirst.net

Can you please check again?
If its not loading
- what country are you loading it from?
- are you loading from a computer? If not, what device?
- what is the error display? Page not loading?

That is a good idea my friend but site is not working here.

Hi Bibop, yes the secure transfer of goods will be 2 of 3 multisignature HD wallets. HD wallets mean that Seller has 1 tree for each Buyer, and that Buyer whenever they pay, it goes under that tree. Each Buyer is a Tree so all transactions will be structured and easy to see. The 3rd signature will be the BitFirst community. A kind of trust system based on reputation. If you have ideas of design, please share.

Good concept.
needed secure transfer of goods and the design needed to improve

Updated Donor section:
Donors
There will only be a fixed amount of bitcoins needed to get BitFirst to operating Live. Donors will be given first come first serve basis, and their Bit allocation will given on a time weighted scale. This will hopefully get Donors in faster as the early Donors will be recognized more.

Formula: Bits = bitcons donated x (total days waiting for full donation - day number of donation) / total days waiting for full donation x total bitcoins donated

This means if Donor donated 1 bitcoin within 1 day compared to another Donor that donates on the last day, the one donated first gets more Bit recognition.
Hopefully this is fair for Donors. Start date of Donations will commence once mockup is done and time and cost estimates are finalized.
Please follow twitter @bitfirst to be notified of the start date
or watch this thread for updates.

Mockup of Page: Buy bitcoin button www.bitfirst.net/pages/Buy_bitcoins_here
Members can Buy bitcoins online from their bank account in their country:
- 1 search field for country and click Find Offers. Lists all available Sellers in their Country.
- Sellers will be decentralized stores connected to the BitFirst.net network with their own domain name
- Sellers have their pricing all inclusive price
- Clicking on Buy will redirect Buyer to the Sellers website
- Ratings - Volume of trade; Buyers Ratings; Frequency of trade; Age of account.
- All Sellers have Multisignature HD Wallets like BitFirst

@ranlo Sure no problems. You can help with listing what is bad so that it will be improved. I have noted in the roadmap that the UI should be more intuitive. Thank you.

Ah, I get you now. Sadly, I suck at the UI stuff. I can code and whatnot, but when it comes to making things look great, that's not my area, :p.

Yes I agree. These pages are mockups (think of design plans for building a house). You first talk to a Builder and you tell them what you want. The Builder will get the Architecture to draw the plans for you. Once you are happy, the Builder will get the Engineering plans drawn for you. The Builder can also get a 3D House drawn for you so you can see. You wont see the final product until the Builder builds it for you.

The Builders are the Developers in this case. We need to draw the plans for the Developers to build it to our specifications.
If you have time, you can help design the pages and make it look pretty.
For now, the main priority is to get the concepts done so the Developers can price the time and costing involved.

I like the concept of the site, but I completely agree with this. The UI just isn't intuitive enough. You need to be using things like Amazon and eBay as references. While you may not want to be one of those, they spend a lot of time analyzing and researching UI techniques.

Your site design leaves much to be desired...