Does anyone else not see the issue with double deposits? I was being a jerk about it a few posts back, but seriously who will put down double the money? Think about it. In this fast paced world who would want to lock up XX amount for days or weeks as an item is enroute? Digital crypto transactions will have their place on bay, but methinks the marketplace will be the biggest draw.
So will the average person put down a double deposit on an item for $3.98? No, because they're trying to get the best price and putting down $8 for something that costs $4 just doesn't make sense...
...I mean, yes, it does make sense to a rational, sane, smart person, but the market is none of those things.
And I'm sure as hell not going to put down $500 on a $500 item, just not happening.
...But wait, you say. The deposit doesn,t have to be 100% all of the time? Well great then an unscrupulous buyer will rack up a bit of rep purchasing junk, will rip a seller off (getting the item at a discount if the collateral isn't 100%) and then disappear. Word of mouth would kill it.
These are just some of the glaring deficiencies I see with a collateral/deposit system. 100% collateral is offputting, anything less than 100% collateral invites fraud.
The feel good vibe around here is great...but I've been in more than one real life situation where a project looks great on paper but comes apart at the seams in execution all because obvious problems were glossed over in an effort to get it done.
They don't put down "double" the money, the term is a misnomer. If you are dealing with someone you don't trust they simply put a bond equal to the item value. If you are buying an item for $4 and don't have $4 for a deposit then you have a bigger problem.
Also you can do custom deposits. I'm sure you know and realize this. If you trust the buyer then let him put down $1 deposit on a $4 item. There is a reputation system and deposits are flexible. This is an attempt to fix a major problem in society. That's why I'm so stubborn. Let's make the world a little better.
An "unscrupulous buyer" who keeps blowing up deals will immediately be noticed(it shows on the chain). After two exploded deals people will start requiring higher bonds. And a fool and his money will soon be parted. He will go broke quick. These are the types of morons we are attempting to eliminate. It's much better than rewarding him for scamming isn't it? If you want to hop on E-Bay and get a chargeback or an empty box more power to you. The odds of that are many times higher than you losing on this platform.
The only people who argue this are usually people who are difficult to begin with(playing devils advocate really doesn't need a reward, the devil needs no extra help) and the type of people who will find themselves losing on business deals. Also scammers tend to complain about this platform (i wonder why). Honest people need a part of society to trade with each other. That tiny little corner is here. If you are honest and want to join in please do.
If you feel like you can blow up an escrow I will happily join you in an unbreakable contract. We will see if you have the balls to do that.