Manfred,

I like it, it is better than pure donations since there is a chance of
profit. It would be better if the the developers did not have absolute
control, but I see no way around this. I was worried for a while about
forks but the first mover advantage should be very high. It should be made
impossible to duplicate offers when forking, to keep the first mover
advantage.
One could mention the project on the fora (or to the admins) of TOR-based
(and i2p-based) marketplaces. There might be some interest from them given
the problem their customers have to get BTC. These companies have financial
muscle.

best,
-mep


On Fri, Jun 27, 2014 at 9:32 AM, jaume <jaume@???> wrote:

> 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
> > _______________________________________________
> > unSYSTEM mailing list: http://unsystem.net
> > https://mailinglists.dyne.org/cgi-bin/mailman/listinfo/unsystem
> >
>
>
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>



--
mvh,
Mats-Erik