Manfred,

For me it is a bit complex. I cannot spot a weakness in the model right
now, but at the same time I am not sure that it is flawless.

I think that a P2P Fiat-BTC exchange is badly needed. At the same time, as
we discussed in other occasions, I would keep it as simple as possible. As
I see it, the goal should be to build a distributed orderbook and a
distributed web-of-trust. Obviously some fees would be required to prevent
spam.

Then I could configure my peer to detect buy/sell offers at the prices
that interested me from people in my web of trust. This simple first
approach would be already usable and offer a functionality similar to the
IRC OTC channel.

After the distributed orderbook and the distributed web of trust were
operational the next step would be the possibility of including
collaterals and/or escrow services.

>From my perspective, you have a tendency to complexity and I always prefer
simplicity :D

Peace :)
Jaume



> hi guys,
>
> I wanted to ask for feedback/discussion about the funding model we are
> considering for bitsquare.io (P2P Fiat-BTC exchange):
>
> Overview of the model:
> - We ask the community for BTC donations for supporting the development of
> the P2P exchange.
> - The funds go to an non-profit organisation which manages the project
> development.
> - The NPO has a democratic, transparent and open structure; new devs are
> welcome.
> - The NPO uses the funds for paying the developers/contributors.
> - There is a continuous deployment process so the sponsors can see the
> progress
> - There are several rounds for each reached milestone (e.g. every 1-2
> month) where only the needed amount for that period will be collected.
> When reached the target the round will be closed
> - When the software is published the sponsors will receive the trading and
> registration fees. - The algorithm for the selection will privilege early
> sponsors. If the project will be successful the sponsors might get more
> money from the fees then they have donated initially.
> - It is important that it is communicated as donation model not as
> investment! We cannot guarantee that the intended model will be
> implemented like planned (legal, technical, conceptual issues might cause
> a change). Also to promote it as investment would cause legal issues
> (would be considered as shares of a public company)
>
>
> The concept is described here in more details:
> https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc/
>
> br,
> Manfred
>
>
> Resources:
> Webpage: http://bitsquare.io
> Github: https://github.com/bitsquare/bitsquare
> Whitepaper:
> https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY
> Overview: http://bitsquare.io/images/overview.png
> Video of the proof of concept prototype:
> https://www.youtube.com/watch?v=ByfnzJzi0bo
>
> Payment protocol: http://bitsquare.io/images/paymentProtocol.png
> Risk analysis:
> https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
> Arbitrator system:
> https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
> Funding model:
> https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc
>
> Old bitcointalk thread (BANKRUN!):
> https://bitcointalk.org/index.php?topic=462236
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>