I added a new categoy “Starter package” for people who are new to Bitcoin and want to purchase their first Bitcoin via Bitsquare.
To help them to pay the needed amount (0.0112 BTC to take a Buy-BTC offer) to start trading we will offer here a meeting place so he can find people who are willing to lend that small amount.
It is up to the one who offers a credit what he requires for being sure that he gets returned the loan.
A typical case could look like that:
User A is the one who offers credit.
User B is the one who has no BTC yet and needs 0.0112 BTC to do his first trade.
User A offers to lend 0.0112 BTC for 2% interest rate for max. 2 weeks. He requires that the borrower provides him some social network account (Twitter, Facbook, G+, etc.). They will exchange their contacts (email or whatever) and communicate in the way they agree on. If user A is convinced that he can trust user B he will send him the BTC to his Bitsquare wallet (address provided by user B via email).
After user B has done his purchase at Bitsquare he will get back to user A and send him back the 0.0112 BTC plus the 2% interest rate.
If user B is dishonest and does not pay anything back user A can contact him and if he finds out that user B was a scammer he could post on his social network account about his negative experience.
User A need to be aware that he is taking all the risk here and the verification of user B’s identity (social network, WoT or real life ID - what ever he requests) is the only way to mitigate the risk that he get scammed.
I assume that for small amounts that should work and I will personally offer credit.
Of course other users are invited as well to offer help here to new users in need of their first BTC.
If we see that this model works with that simple infrastructure, we will put more effort to implement a micro credit market into Bitsquare. So people would get a better user experience and it could scale to a larger market.
I think that is the easiest way to solve the problem of users who don’t have BTC and to see if that is a real practical problem or more a theoretical one. It might be that there are not many people in that situation and those who need their first BTC simply borrow them from their friends who are already Bitcoiners.
But is is an interesting test to see how the situation is.
Please add here only credit offers!
Discussing about the topic should be done in the other threads, so we do not fill up that thread with other content.
EDIT: I personally don’t offer that anymore as I did not get paid it back it several ties and I don’t have time to remind the lender…