We have the templates working nicely so when people see the peg and buy in, they see the user friendly markets that even their mom could understand which we could fill with p2p cash orders or selling items etc.
So when the templates are done, the "moms" won't have to know about two private keys and multi-sig accounts and double deposit escrow? It'll be just like Ebay without the middle-men?
So Mom wants to sell her old Ipod for $100. She takes a picture and puts it and a description into the marketplace. The next day Bob contacts Mom and says he wants to buy the Ipod for $100. To use the Double Deposit feature, all Mom has to do now is put in $100 and send the Ipod. But wait. Mom says "Why do I have to put out $100 to sell my Ipod? I want to sell it because I don't have $100. On Ebay, I just sell it and Ebay takes a little and gives me the rest. Why do I have to pay to sell things? I want it to be easy like Ebay. I like Ebay. I sold a toaster last week for $25 and I didn't have to put in $25 first. I know I get it back, but what if I want to sell Grandpa's Mickey Mantle signed baseball for $6000? I don't have $6000 to put in. So I can't sell it? I don't understand this.
Can someone help Mom understand how easy this is?
Well actually thats a good question. "Mom" can sell at the click of a few buttons. The deposits will be automatically set for her and she will notice that she needs extra coins to start the offer. However if she doesnt have the deposit, she can set a custom one. If you sell a 6000 dollar item, there is no reason a 1000 dollar deposit is not enough. After all the person will rather release escrow and get their 1000 back than pay 7k for something that was 6k. Also you can do guarantor contracts where the deposit is zero. But perhaps only one person deposits.
So mom wants to buy her first coin, she doesnt have funds. So she asks for a guarantor(the software figures that out automatically) and a person can put up their deposit so mom can trust them but she is not required to do one. A guarantor would probably only sell about 50-100 dollars worth of coins to her in that case. But they will deposit 50 on a contract of 50 and all mom would have to do is sign for it after she sends the cash.