Quote from: markm on May 29, 2011, 05:14:10 AM

It probably does not really require much of your time at all, just your money.

You need to put up enough money as a "float" for the service to operate with and to cover any losses due to either

(1) The statistical losses due to reversed incoming fiat transactions happening before the padded fees/exchange-rate has accumulated enough to cover them; or

(2) Your estimation of the amount of padding and/or fees falling short of what turns out to actually be necessary.

I'd be willing to put up a couple thousand to help cover initial losses, provided my initial investment would entitle me to at least having that investment returned once things get rolling. My financial reserves aren't that great, however, as I'm currently in the middle of trying to set up a mining cluster.

Quote from: markm on May 29, 2011, 05:14:10 AM

That all said, please specify the fees and/or exchange rates you are prepared to put up the float money for such a service to operate with.

I would want to get some stats on what percentage of payments get reversed across a range of services, such as PayPal and a good sample of credit card processors, in order to calculate out what kind of premium would need to be charged initially in order to keep the service from going immediately under. Once the service has been running for a while, the premiums could be adjusted to account for actual chargeback rates. An additional fee should be charged on top of the bare "chargeback compensation" fee to help keep the service running as well, part of which should go to a legal defense fund. I imagine such a fund would be necessary at some point in the service's history. Better to be prepared than caught flat-footed at any rate.

Quote from: markm on May 29, 2011, 05:14:10 AM

Coding is pretty much irrelevant, no need to consume your precious coding time, all that is needed is your float money and the fee and exchange rates at which to utilise it, and likely someone can be found to do the day to day operations including running whatever already existing or easily modifiable code will work, maybe even for less than minimum wage just because like you they just want to make such a thing available for the good of the community.

-MarkM-

Yeah. This is the part I have the most trouble with just because I'm a programmer and thus feel weird hiring someone to do something I feel like I could do myself. I guess it comes down to time constraints though and the whole time/money trade-off.

I should figure out how much this thing would cost to get off the ground.