Post
Topic
Board Bitcoin Discussion
Re: What does this community think of this idea...
by
the_thing
on 15/09/2012, 22:46:18 UTC
I think you misunderstood, the site would allow for total and complete anonymity for the investors, "but they would still be able to voice their concerns and critique the weak points of the project"
Sorry, I stand corrected.

And I am aware that this is not an original idea, but I think I can simply do it better. For instance, establishing liability for the recipients of the investments through contractual agreements. Example: A representative can be selected to act as the legal identity for the "sharks" and he/she would be responsible (and obligated) for ensuring the money is being used for what it is supposed to be used for, and that any return on the investment would be sent to a designated bitcoin address.
Who, could be such a representative? Only the original entrepreuner has control over his project and its finances.

Sometimes that is a fact of life that cannot be changed, weather due to fiscal irresonsibility at an early age, or just plain bad luck. I think we have an opportunity to use this "crypto-currency" to benefit everyone (being that it is unregulated) instead of those just interested in making a profit or getting a return on their investment. How many people can honestly say they think their current banking system is fair, and is not being used to as a catalyst to fuel immoral and selfish principals in business and economics? I think the bitcoin is our salvation, a chance to spawn a new form of fiscal practices, and in the proper hands, can literally save humanity.
Granted, sometimes good projects are rejected for wrong reasons. But I think banks rarely have overly tight risk management. As we have seen in last few years, they usually risk too much. So if they refuse to finance a project, they usually have good reasons.



Please, don't get me wrong. I like your idea, because this is exactly something Bitcoin. Financial infrastructre is essential for a currency. And if your idea works, it would be a great contribution. I'm just trying to find all possible flaws in your idea. I'm taking a position of a devil's advocate.