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Crowd Sourcing Cashouts

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Jo Traffic Value: $8,649,585.93592 Spain 4 like this post 0 people 08/06/2014 10:31 I was just thinking on these cashout issues. As basically, they're a pain in the butt! Moving money around, trying to fund every which payment processor; subject to all sorts of weird conditions, rolling reserves, balance freezes etc. So I was thinking... Could you crowd source cashouts? eg. A user requests a cashout; another user then has the option of paying it. To collect a given commission in the process (or to fund their account for free)... And then MTV just pays the big cashouts, or the cashouts nobody else pays within a given time period. So it's like first come first served... either you pay the cashout. Or MTV does. Whoever actually sends the money; gets the commission. ---- Sounds good in theory. - Likely have to approve users for this ability. Otherwise you can imagine the fraud, or chargebacks. - And probably a nightmare in terms of anti-moneylaundering compliance. Anyway... just a thought / nice idea! But I don't know if it's practical. Jo inditech Traffic Value: $13,962.16825 Australia 0 like this post 0 people 08/06/2014 10:43 hmm, as long as you wouldn't have to wait..to recieve monies JingleBall Traffic Value: $2,370.48552 Croatia (LOCAL Name: Hrvatska) 0 like this post 0 people 08/06/2014 10:49 I dont understand how that would work. So let´s say, there is a user who wants to cashout 10$ via PayPal and I pay him and receive commission( lets say 10%). So I get 1$ for paying him, but lose 10$? Darknit Traffic Value: $3,211.07643 Sri Lanka 0 like this post 0 people 08/06/2014 10:49 nah... It would just complicate the things further more  window.onbeforeunload = function() {} slosumo - Administrator Traffic Value: $28,438.4426 Slovenia 0 like this post 0 people 08/06/2014 10:57 But how would MTV refund/Send the money to the user who sent it for the pending cashout? TO MTV earnings balance? Lets say that anti-laundering, trust issues etc. could be avoided, MV would in the end still have to pay the person who paid a cashout, so wouldn't that be a bit of a endless circle? rtrplay Traffic Value: $65,453.30658 Sweden 0 like this post 0 people 08/06/2014 11:06 the only thing i say a another crowdfuncding site has this i think i don't need mention the name...they have this system and that sucks and is very unsecured, money was sent to users who don't process them and take the money out self, problem was that user set the commision... now that loophole is closed but cashouts must be processed with screenshots of every transaction and i see only users that have empty e-wallets so basically the commision should be fixed and some sort of verification system that user has the money and transaction is complete, could work for a limited group Jo Traffic Value: $8,649,585.93592 Spain 1 like this post 0 people 08/06/2014 11:27 Correct, you pay the cashout; and the funds get added to your MTV balance. Then the idea is, you process loads of little cashouts, then MTV will just end up paying you one big one. So less work for MTV. Users get paid quickly. And you make money. Sorta like you become an exchanger for MTV. You deal with the hassle of processing money back and forth (or maybe just one way). And make money in the process. Then you just deal with MTV in bulk. So.. ideally we'd get 3-5 "exchangers" all vetted & signed up. And then they'd basically compete to pay the pre-approved cashouts. That way users get super fast service and MTV only has to worry about vetting that the cashout requests are valid. * And we could crowd source that in another way... Open up user histories for pending cashout requests. And reward users for finding bugs / exploits. inditech Traffic Value: $13,962.16825 Australia 1 like this post 0 people 08/06/2014 11:32 A 'Paid To Pay' site ...government would shut us down! rtrplay Traffic Value: $65,453.30658 Sweden 0 like this post 0 people 08/06/2014 11:41 if we think bitcoin could we create a system like this, combine a couple of users e-wallets to one big one, 10 users as example has total 1000btc and then all cashouts/deposits processes between them automatically, being part of this banksystem earns small fee exchanging money is a grey zone "this LAWs" Jo Traffic Value: $8,649,585.93592 Spain 0 like this post 0 people 08/06/2014 11:56 Yea that's the big problem. Anyway, nice idea... But I don't think it's really workable. But might lead to some other ideas! Definitely planning to crowd-source the "cashout oversight"... As even with our portfolio, users are real good at spotting strange things. So if we expand on that with more reporting; we can keep an eye on cashouts even more effectively. And perhaps reward users for flagging verified exploits. Jo jamespaul Traffic Value: $152,534.85777 United States 0 like this post 0 people 08/06/2014 12:24 How about offering additional BAP if people wait for cashing out up to a certain payout amount?  (I know, you're aiming to reduce BAP debt...but just keep finding other ways to reduce the BAP debt). Jo Traffic Value: $8,649,585.93592 Spain 1 like this post 0 people 08/06/2014 12:45 Need to get Fast Ads + Targeted Ads online. That'll double dip into the BAP debt... And we clearly have advertiser demand; as we've sold almost $1000 worth of banner impressions (that pay no BAP) in the last week and a bit. And I think with cheap micro ad campaigns; we'll tap into a good pool of user advertisers. Then with Targeted Ads; we can really profit from our high value users. And at the same time; send them some high value ads. --- And I was thinking of creating a BAP game; like a two level slot machine. Where you play with BAP to accumulate credits. Then on the second level of the slot machine; you play with Money + Credits. And subsequently get a slot machine that pays out 100%, or even just over 100% payout ratio. So that way, you can use your free BAP; to get you access to something that's worth real money (statistically unbias gaming). Without actually costing MTV any money. We just offer a game that we should statistically make no money on. But we get debt reduction instead. ----- And maybe we can offer some advertising where you pay in BAP... like banner impressions for BAP. ----- I don't know... lots to think about! Plus multiplayer games -- BAP would be a good test bed for those. MisterGreen Traffic Value: $22,303.8091 Netherlands 1 like this post 0 people 08/06/2014 12:55 I love the idea of crowdsource payments !! Don't know much about all the practical problems that need to be solved to implement this, but in theory it's great. tupko Traffic Value: $32,122.18249 Croatia (LOCAL Name: Hrvatska) 1 like this post 0 people 08/06/2014 13:19 example, user wants to cashout via paypal, I pay him from my paypal account and in return mtv credits my mtv account +fees profit and I suppose both sides need to confirm that they sent/received money by uploading screenshot of the transaction as proof before mtv credits my account. I don't like this project as it's heavily based on the trust and I guarantee there will be fraud/chargeback attempts, uploading photoshopped transaction details with changed numbers thus taking even more time for Jo to check if everything is ok unless you keep the number of 'exchangers' very low or accessible only to people with high enough traffic value or some other requirement(keeping low number of exchangers what I mean), it could work out... but giving access to anyone to be able to be exchange would be bad for this project rtrplay Traffic Value: $65,453.30658 Sweden 0 like this post 0 people 08/06/2014 13:33 there is also a risk for the user that exchange this way, if the ecurrency company blocks the account because of many transactions kc1989 Traffic Value: $1,238.07941 Singapore 2 like this post 0 people 08/06/2014 14:17 government may even shut it down the site..its better to be safe than sorry.. hrjustinptc - Forum moderator Traffic Value: $8,376.82638 United States 0 like this post 0 people 08/06/2014 14:42 This is a good idea in theory I was trying to think of a safe way to make crowd source exchanges. It all comes down to fraud and the laundering issues. It would be good to have a way to transfer either cash or BAP balance between members somehow.  tupko Traffic Value: $32,122.18249 Croatia (LOCAL Name: Hrvatska) 0 like this post 0 people 08/06/2014 20:03 well, yeah as you said in theory is great, but for realisation, it needs adjusting and brainstorming to prevent fraud and what else.. consistent Traffic Value: $59,525.25001 Philippines 0 like this post 0 people 09/06/2014 03:13 This can be done. Choose 2 to 4 trusted entities, persons, or companies.  Have them vetted.  Optional: Have them make or use a similar name to My Traffic Value as their payment processor name Create the crowd sourced terms, plans and conditions behind the scenes.  You don't even have to announce or let the public know. Launch it. People will start getting paid like from "MTV Pay Account."  People notice payments are so much faster. You save time and can use that time to develop MTV better. Try it first with like Perfect Money, BTC, and Western Union.  That way people can not charge back.  Then when you are pleased, you can move on to STP and paypal.  Or you can "mark" accounts that use paypal and stp as safe to pay with crowd sourcing.  How is an account going to be "safe?"  Example, when they are free earners and earned enough for a cash out, or when they are already in profit... It is impossible to charge back because they did not spend more money at the site... gordontan Traffic Value: $0.025 Malaysia 0 like this post 0 people 11/06/2014 08:44 how to set up perfect money in paidverts?? why i keyed in email, account name ,member ID of my perfect money ..all cannot one... it kept coming out errors saying incorrect input data.. why a ??? please help.. how long does paidverts take to cashout via Perfect money ?

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