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Re: Altcoin paywall
by
Pmalek
on 23/06/2019, 12:41:34 UTC
I proposed Security Deposits for bounty threads a few months ago but it didn't really catch on. The concerns were similar like in this thread that doing that would give members a false sense that the project is somehow vetted and secured by the forum itself.

I am for any kind of improvement that would distinguish good and reliable projects from scams.

Quoting my own thread here as a reference.

When you move into a new apartment you are often required to pay a security deposit. A guarantee of some sort for damages that could be caused by you - the tenant.

How about offering ICOs/ITOs an option to pay a security deposit as a proof of their legitimacy and good intentions. The security deposit would be kept in an escrow account for the duration of the campaign. In order for the deposit to be returned the campaign must have honoured all their promises to investors and bounty hunters alike. If not, the deposit remains in the escrow account and could be used as a means of a small compensation for the investor/bounty hunter.

I am not proposing it should be mandatory for all campaigns. It is just an option that can be activated by the ICOs to prove themselves.
Can this still lead to abuse? Yes it can. The campaign can still pay a deposit and end up scamming their investors/bounty hunters for more money. But if implemented properly and with a high deposit it could maybe work.

I don't really follow the Altcoin industry anymore but like it or not they are a big, if not the biggest section of Bitcointalk. Unfortunately resulting in a lot of spam as well.

I am curious to hear the communities opinion about this. Something similar might have been propose in the past, sorry if it's a repeat. I did a quick search but didn't find such a thread.