What you are trying to do is build an escrow service... you have not
invented anything new. Study some existing escrow services, then design your
system...
Sidd.
Hi Sidd,
It is much more than just an escrow service.
It would be like saying to the person who built the first automobile:
Newsflash: the greatest reversible/repudiable payment system ever on
the planet, is credit cards -- Visa and MC.
You very simply will never be able to improve on them. (How?
Greater penetration? lol. or what? how could it be improved on?)
Oh, I'll improve upon them in almost every
The costs are exactly double the normal e-gold fees, because two spends happen
before the e-gold arrives into George's account (or back into James' account).
But I would of course take a little fee for myself and make a profit here.
Who will handle disputes if there is a chargeback?
Regarding escrow, 1mdc will never be involved in escrow, Rob,
although others can build escrow systems on top of it.
Well, I was sort of thinking that maybe if Danny chose to go ahead, he may
be interested in getting you on board - on top of, under or aside
1mdc.com;
Would not be good
At 7:13 PM -0500 6/1/03, Offshore Team wrote:
Imagine say 3-10 people being the jury for repudiation payments each
earning a % of the fee charged for the outcome -
...
I can't imagine a number of things about your scenario, such as how
you'd pay jurors so little and have any, but I *can*
INTERNAL JUDGING SYSTEM: The system could set up a number of neutral judges/jury
which could easily sort out repudiable payment conflicts. Lets say, for the clients
safety, a $2.50 fee is charged on all repudiated payment problems (the fee is taken
from the amount of the payment) - the service
I have looked at the 1mdc site and I don't see where the interest they
are paying will be coming from, so that raises a red flag to me.
As the gold is simply sitting in their account, they will either be paying the
interest rates out of their own pocket or out of the common pool of gold they
On Monday, June 2, 2003, at 05:07 AM, Graham Kelly wrote:
CC transactions can indeed be hard, subject to a few operational
conditions.
Actually, I don't have many problems with accepting credit cards at
all... it sure was a very steep learning curve tho! :) I had to invent
some fairly fast
On Monday, June 2, 2003, at 08:15 AM, Danny Van den Berghe wrote:
... Honestly , I have looked at the 1mdc site and I don't see where
the interest they
are paying will be coming from, so that raises a red flag to me.
As the gold is simply sitting in their account, they will either be
paying the
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I brought up the same argument a few months ago, only to be told by
several people including JPM that the reason 1mdc is doing what it's doing
is simply because they are buyilding a client base. The few cents they pay
on fees for each account every month is a cheap way to get and keep
On Monday, June 2, 2003, at 02:11 PM, Danny Van den Berghe wrote:
So far so good.
But last I visited the site I did not find much there in form of
contact information
other than an email address.
No phone or street address, no company information.
It may have been hidden somewhere on the site,
I can't imagine a number of things about your scenario, such as how
you'd pay jurors so little and have any, but I *can* imagine both trying
to seed your juries with my allies and/or bribe them. Many of you are
very charming, because you're so honest. I *try* to be charming, but
life forces
But last I visited the site I did not find much there in form of contact information
other than an email address.
Hello Danny,
I think you are right. But it all comes down the trust and reputation
issue again. For one JPM is not exactly a stranger by reputation and a
person I trust, trusts
If e-gold can get away without having any reversal options then this system
could most certainly state the decison of the jury is final.
A NON-repudial juror system for your repudial e-gold, justified by the fact
that e-gold is non-repudial, a feature which you think is bad ... very
interesting.
I have looked at the 1mdc site and I don't see where the interest they
are paying will be coming from, so that raises a red flag to me.
As the gold is simply sitting in their account, they will either
be paying the
interest rates out of their own pocket or out of the common pool
of gold they
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At 7:22 PM +0300 6/2/03, Danny Van den Berghe wrote:
First my system could never work..
After I pointed out how it would work, you came up with the argument
that hundreds
such services already exist.
And finally when I invite you to do a reversible microspend into my
account (which
obviously
If e-gold can get away without having any reversal options then this system
could most certainly state the decison of the jury is final.
Umm, Danny never said this. I did, so you shouldnt start yellen at him for that...
A NON-repudial juror system for your repudial e-gold, justified by the
Some who have $1 worth of e-gold, but that are very few accounts
actually, they
can come earn $200 a year...
Who is going to risk $1 of gold inorder to earn $200 a year?
Actually Danny believe it or not there are a NUMBER of 1 kilogram
1mdc Lodgements earning a bonus of the figures
At 9:11 PM +0300 6/2/03, Danny Van den Berghe wrote:
...
Am I missing something?
...
Yes, but it's understandable. You're missing JP's reputation-capital,
which is substantial in this community.
JMR
PS New babies at www.martincam.com -- e-gold donations gladly
accepted!!!
---
You are
- Original Message -
From: Danny Van den Berghe [EMAIL PROTECTED]
:
: It is much more than just an escrow service.
:
No it's not. It is simply an automated escrow service. It does exactly the
same as any other escrow service. The way you plan to implement it may have
some new or
At 4:35 PM -0500 6/2/03, Offshore Team wrote:
...
I agree repudiable is best for many, but how many people (I guess in the tens of
thousands) have been scammed within e-gold from people who closed up shop
eg games and HYIP's. These are a prime market for repudiable...
Is that why there are so
1mdc has some nice draws:
... limited-duration payment keys, etc.
Just a vague thought here.
It would be neat if we had a system where a buyer could sign something
when he received the goods, and that signed receipt itself would
somehow act as a cryptographic key to release some prepaid
On Monday, June 2, 2003, at 05:46 PM, Sidd wrote:
...
The payment is sitting in the trusted intermediary e-gold # account of
John
Polzer at Electrumor.com who provides an escrow service, ...
Thanks for the reminder about Electrumor, and I wasn't aware of their
escrow service. I met John Polzer
OK...
How about this idea! Maybe after all the talk on this topric what we have here is an
oragami boulder!
http://www.origamiboulder.com/
lol
Gordon H.
www.katzglobal.com
Anonymous Hosting(tm) Solutions
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A friend of mine and I discussed a similar topic years ago about how the grocery store
chains could succeed with an automated
delivery service. One of the topics was locked coolers on the outside of a house like
a large mailbox.
The delivery driver would have essentially held a key with that
On 2 Jun 2003, at 18:14, Patrick Chkoreff wrote:
I am trying to envision a purchasing system where the release of funds
is very tightly coupled with the physical acts of shipping and
receiving goods. A well capitalized shipping company like UPS might
be able to devise a system like this
- Original Message -
From: James M. Ray [EMAIL PROTECTED]
Date: Mon, 2 Jun 2003 17:56:18 -0400
To: e-gold Discussion [EMAIL PROTECTED]
Most online HYIP scams are made WITHIN e-gold not credit cards (credit cards are
repudiable thus the scammers running the show cannot get
away with
On Monday, June 2, 2003, at 07:10 PM, Craig Spencer wrote:
Yes, but they are not going to do it (don't ask me why). So if
you want something that is practical and works you have to design
something that does not require their active cooperation.
Great reality check (I expect nothing less from
I agree with Dannyin one way that his described system is more than your ordinary
escrow service. An automated service with new addtional ideas - creating more than you
ordinary escrow.
AUTOMATION is the key, without the user having to leave the site and either a. get
confused, or b. lose
--
Credit card companies provide an arbitration service -- for
which everyone pays, not just the careless and the
troublemakers.
They are very good at providing this service. It is fast,
mostly fair, and provided by low wage labor. (Yes, I know lots
of people complain that it is very
There's a cool name for you Danny rgold.com or r-gold.com
Very nice!
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The only problem at the moment is I want 1mdc to STOP GROWING for a
couple months while we do the new software and a few other secret
surprises.
Are you saying we shouldn't increase our lodgements with you?
And I sure hope the secret surprises don't entail 25% unbail charges ;o)
Cheers,
--
On 29 May 2003 at 15:10, Snow wrote:
There are 3 or 4 times as many transactions as there are
accounts being accessed.
This is as it should be, if everything is running smoothly.
When e-gold started, there were many accesses, because people
were unsure, experimenting. The ratio of
The only problem at the moment is I want 1mdc to STOP GROWING for a
couple months while we do the new software and a few other secret
surprises.
Are you saying we shouldn't increase our lodgements with you?
Rob, I was mostly joking, but I was more talking about 1mdcGRAMS.
Yes, ever customer
At 6:22 PM -0500 6/2/03, Offshore Team wrote:
...
Most online HYIP scams are made WITHIN e-gold not credit cards (credit cards are
repudiable thus the scammers running the show cannot get
away with funds most of the time )
This is my point (though your term within is totally-inaccurate).
I
I agree with you, but still believe that the users themselves would feel more
comfortable with repduaited currencies when playing these games would they not - and
merchants /game owners would pick up on this?
Does Paypal and Visa operate with Csinos anymore??? NO. this market is prime for
Dear Friends,
An unidentified person representing itself as
Privacity asks: Jim - Are you the client?
The answer is no. I am glad that I am not their
client.
Did you place an order with us? NO.
Correct, I did not place an order with Privacity.
Thus, I am not out several hundred bucks. Or any
If e-gold can get away without having any reversal options then this system
could most certainly state the decison of the jury is final.
A NON-repudial juror system for your repudial e-gold, justified by the fact
that e-gold is non-repudial, a feature which you think is bad ... very
AUTOMATION is the key, without the user having to leave the site and either a. get
confused, or b. lose interest. Half the people dont even know what an escrow is, so
this more automated, seamless service would provide a more marketable concept than
your standard escrow service which involves
UPS provides an XML interface to their tracking system. So you could
automatically key off such events as (1) item shipped (to a
certain address) and (2) item delivered. This would, in practice,
be enough to implement G.O.D. with what exists today.
... and great idea. Necessity is
Hello Danny,
I think you are right. But it all comes down the trust and reputation
issue again. For one JPM is not exactly a stranger by reputation and a
person I trust, trusts him - which is good enough for my.
Hi Robert,
Fine, but can you rely on trust and reputation only?
Those people
I have just spent a reversible payment to you of 1 gram... you must
demonstrate a reversible spend directly to the seller's e-gold account
within 1 week or I will reverse the spend.
The payment is sitting in the trusted intermediary e-gold # account of John
Polzer at Electrumor.com who
Actually Danny believe it or not there are a NUMBER of 1 kilogram
1mdc Lodgements earning a bonus of the figures given !!
Looking at the stats page I see a couple of 1000s, a number of 200s, 500s, etc
In retrospect it was such an obvious idea --- the best possible
promotion is to JUST
Afraid that the
market will tell you exactly what I (and I suspect several others) think it
will; i.e. nobody wants this bafflingly complicated crap service because one
of the main reasons they use e-gold in the first place is it's
non-repudiability?
Umm, I believe it will not be a
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