Bitrated
Finance and crypto
bitcoin escrow arbitration
SHOW HN2013
155points
72comments
#114of 1,739 in 2013
Top 7%of 2013 by points
How HN took it
MixedNo clear lean
10 positive, 19 neutral or asking, 2 mixed, 9 critical, out of 40 comments about the project. Thread score -0.03.
Idea: 6 for, 4 againstDocs: 0 for, 3 againstExecution: 1 for, 1 againstDesign: 0 for, 1 againstPrivacy: 1 for, 0 against
The thread, comment by comment
Each row is a top-level comment and its replies, in HN's order. Select a cell to open that comment on HN.
positive neutral or mixed critical about another commenter or something else the maker
What HN said
What people liked
Useful, practical system that only Bitcoin enables
From 2 comments
That is interesting. I have some doubts about their claim that this escapes regulation of escrow services (it sounds good, but their argument may not hold sway with regulators).…
mcherm on HNThis addresses some of the limitations of Bitcoin compared to classical payment networks— the lack of reversibility, even where you want it. I found the site super easy to use.
nullc on HN
Easy to use site
From 2 comments
This addresses some of the limitations of Bitcoin compared to classical payment networks— the lack of reversibility, even where you want it. I found the site super easy to use.
nullc on HNFirst off, this seems incredibly useful! Nice work! Second, on the FAQ page: > Help, I lost my private key! Can you recover it for me? > No. The private key only exists in your…
kennywinker on HN
Arbitration deters fraud
From 1 comment
Arbitration is good not so much because it cures fraud, but because it deters it.. like security guards or parental supervisors.
adrianwaj on HN
Objections
Arbitrator list suggests trust; dummy accounts possible
From 1 comment
The arbitrarors list is a problem. It seems to suggest that they're all trustworthy, so if your seller just says 'ok lets go with this guy' you might just accept. Then it turns…
Anderkent on HN
Possible regulatory issues as escrow service
From 2 comments
That is interesting. I have some doubts about their claim that this escapes regulation of escrow services (it sounds good, but their argument may not hold sway with regulators).…
mcherm on HNwhy not make it easy and call it escrow since that's what it looks like it is?
Zoomla on HN
Private key in URL may be sent to server
From 1 comment
First off, this seems incredibly useful! Nice work! Second, on the FAQ page: > Help, I lost my private key! Can you recover it for me? > No. The private key only exists in your…
kennywinker on HN
Broken pages and 404s, outdated bounty
From 4 comments
Weird, I was thinking about this kind of application for the last few days (unfortunately many good domains are squatted, e.g cointract) I imagined being able to set the arbiter…
VMG on HNi think you're bug bounty (bottom of security page) is a little out of date... We welcome security audits and offer a bounty of 1 BTC for responsibly disclosing security issues…
tetrep on HNI'm getting a 404 on https://www.bitrated.com/tx/new.js and the start transaction page is pretty much blank (probably a result)
cypherpunks01 on HNJust FYI: The "About" page is 404'ing https://www.bitrated.com/about.html
dewey on HN
Requests
Support multiple arbitrators (m-of-n arbitrators)
From 2 comments
I'm glad someone finally made this. What do you think about potentially offering more complicated schemes in the future? For example, supporting say three arbitrators, requiring…
ryan-c on HNArbitration background in real life here. Love what you are doing and want to offer some feedback! Many times in larger transactions, parties will demand a panel where 2/3, 3/5,…
arbitrator on HN
Arbitrator reputation system
From 2 comments
The arbitrarors list is a problem. It seems to suggest that they're all trustworthy, so if your seller just says 'ok lets go with this guy' you might just accept. Then it turns…
Anderkent on HNFirstly, great idea. I'm assuming there will be some sort of rating system for arbitrators in the future. That list on /u could get unwieldly. However, what's to stop an…
dunebug7 on HN
API
From 1 comment
AUR: https://aur.archlinux.org/packages/bitrated-git/ Any plans for an API?
atweiden on HN
Questions
What fees will the site charge?
From 1 comment
I see you're implementing an idea from https://en.bitcoin.it/wiki/Contracts ;) What are your fees currently (as the site operator)? I've only found ... "Fees: For its services,…
reganrob on HN
Can arbitrators be identified via other social identities?
From 1 comment
Awesome, glad someone is doing this. Are you going to be offering ways for arbitrators to tie in other social identity sites as a way for arbitrators to present credentials?
hosh on HN
Can the arbitrator be controlled by buyer or seller?
From 1 comment
What ensures that the merchant (or buyer) is not identical to, or controlled by, the arbitrator?
apo on HN
Alternatives named
Escrow services
From 1 comment
Looks nice, but does this do anything I can't do with my Citibank n-of-m financial transaction arbitration service? (kidding- thanks for another innovation that makes traditional…
drcode on HN
Nash-style mutual assured destruction deposits
From 1 comment
Huh! I actually started working on a system that does something very similar, which ended up being morphed into Bitrated after a few people convinced me that it wouldn't work.…
nadaviv on HN