Post
Topic
Board Service Announcements
Re: Bitmarkets decentralized market intro video released
by
stevedekorte
on 11/08/2015, 20:36:27 UTC

It's possible to use this system to exchange cash for cryptocurrencies by physically mailing the cash while being confident the other party will sign the payment once the cash is received as they will otherwise lose their deposit part of the transaction.


Presumably the security deposit will be of a smaller sum than the cash being sent?
The video says it's the same amount.
I wonder if users can agree to adjust that tho.


The seller puts up 1x the price of the item and the buyer puts up 2x (1x for deposit, 1x for payment). These amounts aren't adjustable yet. The white paper explains why we choose a 1to1 deposit ratio.