Money safety systerm

As well as the SVU rank being basically a joke, this would definitely help in that regard.

Has anyone with an SVU scammed, and actually had their information given to the proper authorities and had anything come of it?

 

[Superfluous]

Has anyone with an SVU scammed, and actually had their information given to the proper authorities and had anything come of it?

not that i know of. closest thing to that that i recall was maybe honest iago v. lean...

 

[DRSX]

What if it was a system similar to donations? We would have bond holders who would collect these "donations" and then a rank (or mini) would be awarded based on the exact $$ amount indicating their insurance amount. The money would then be sent from the bond holder to a pool held by either a trusted official, or Sythe Staff. Unlike donations, these funds would stay stagnant until someone who has one of these ranks scams, where the user who was scammed would receive the amount donated by the scammer.

Down the line when someone who buys into this insurance system feels they no longer need this rank to appear trustworthy, they could transfer the amount to Sythe and in turn receive a donation rank and lose the "insurance rank".

Obviously we have small problems that come from this which would include one user scamming 4-5 people. I'd imagine the logical thing to do in this case is to split up the money and distribute it evenly between all users who were scammed.

If the user was to ever pardon, I believe they should pay in full all those who they have scammed back similar to what occurs now. What I mean by this is, if I had a $100 insurance rank and scammed you of $150, if I was to EVER be let back onto Sythe, I would have to re-pay you $150, regardless of the $100 you already received.

So what if the "bond holders" decides to scam quit with 20k who will be paying that back? Everybody has their price and seeing them being in control of a large sum of money and all they are risking is a sythe account..No support.

 

So what if the "bond holders" decides to scam quit with 20k who will be paying that back? Everybody has their price and seeing them being in control of a large sum of money and all they are risking is a sythe account..No support.

The point of a bond is to be a bond. Let's say you were a bond holder. You pay Sythe / Matthew / whoever is in charge of handing out the ranks $500. Now, you can give up to $500 worth of "insurance" ranks, until you have to put another bond back in. The point of the bond holder is to just deal with people and help them out, the bond holder isn't actually in any large position of trust as in theory they always have to pay in advance.

 

[Tyler]

the bond holder isn't actually in any large position of trust as in theory they always have to pay in advance.

This is just false. Let's say I wanted to scam some money.


I'll contact people saying "I accidently bought too much money into my bond and need it for irl stuff. If you donate $200 I'll give it to you for $160"

They of course find this sketchy af so I tell them I'll gladly go first. I reverse some of the previous donations that I have done in the past (which if they users are not online they won't notice until then are. And even if they are I can just tell them I'm having an issue with my bond)

I sent the donation rank which is actually coming from somebody's else's donation and then get the btc/07 or whatever sent.


I could do this with thousands. People who have donated significantly more like bogdan can do tons more.

 

[DRSX]

The point of a bond is to be a bond. Let's say you were a bond holder. You pay Sythe / Matthew / whoever is in charge of handing out the ranks $500. Now, you can give up to $500 worth of "insurance" ranks, until you have to put another bond back in. The point of the bond holder is to just deal with people and help them out, the bond holder isn't actually in any large position of trust as in theory they always have to pay in advance.

But there's always someone down the road who could pull the trigger, I see your point but my concern is if we used this system there could be at some day so much money that it would be so lucrative to scam and be done.

 

[Superfluous]

yeah, so that -- "what if the person holding the insurance money scams?" -- is the big issue here. can anyone think of a way to get around it?

 

[Admires]

yeah, so that -- "what if the person holding the insurance money scams?" -- is the big issue here. can anyone think of a way to get around it?

have a disclaimer that it's possible, and only choose the most trusted people to hold the money

 

We are not licensed to underwrite insurance policies or take deposits. This is a communications platform. We are not a bank or an insurance agency.

If you want to privately contract among yourselves to provide some insurance or deposit taking service, within the laws of your local jurisdiction, then that is completely up to you.

 

We are not licensed to underwrite insurance policies or take deposits. This is a communications platform. We are not a bank or an insurance agency.

If you want to privately contract among yourselves to provide some insurance or deposit taking service, within the laws of your local jurisdiction, then that is completely up to you.

end decision i'm guessing. but are you saying if we got insurance company to cover us, we could have a rank?

 

[Superfluous]

end decision i'm guessing. but are you saying if we got insurance company to cover us, we could have a rank?

if you get an insurance company to cover you, you've wasted a fuckload of time and money.

rich's comment is essentially saying "this will never be an official thing" - if we want to do this, it will be unofficial. it sounds like it will be hard to convince people to do this unofficially because people are unlikely to trust a non-official user with their insurance money

 

[DRSX]

if you get an insurance company to cover you, you've wasted a fuckload of time and money.

rich's comment is essentially saying "this will never be an official thing" - if we want to do this, it will be unofficial. it sounds like it will be hard to convince people to do this unofficially because people are unlikely to trust a non-official user with their insurance money

Yeah, convincing people to use this system would be utterly difficult, even if it was official and sythe got the documents I still wouldn't bother with it.

The problem is once the sum is large enough the "company" could simply disappear and say they went bankrupt with nothing to liquidate, too many ways around it to beat the system if you actually want.

There is no easy solution to our problem here on sythe to resolve our problem, people will just have to learn how to be more cautious.

 

I don't think it's necessary, no support.

 

[-Ryan]

We are not licensed to underwrite insurance policies or take deposits. This is a communications platform. We are not a bank or an insurance agency.

If you want to privately contract among yourselves to provide some insurance or deposit taking service, within the laws of your local jurisdiction, then that is completely up to you.

Going to close this, because this is never going to be an official Sythe thing, as stated above. Not sure why nobody closed it earlier.