Quote from: logfiles on March 06, 2021, 09:12:36 PM

Quote from: lydiasys on March 04, 2021, 09:21:40 PM

2. What is one thing you would like to change from the platform that you use now to make your experience better ?

It's quite hard to just brainstorm minus knowing what features the platform will have.
Maybe you can first outline what your platform will provide then we add on what we think could be nice but missing from the features.

Hey, right now the main focus is cash trades so we just wanted to know specifically what you don't like about the current platform you use when it comes to cash trading.

If you want to get a little more detail about our platform to make a comment, I made another topic where I can explain better the features : https://bitcointalk.org/index.php?topic=5318881.msg56400337#msg56400337

Quote from: o_e_l_e_o on March 07, 2021, 08:29:14 AM

I have used Bisq, HodlHodl, and LocalCryptos to find cash traders. I generally favor Bisq whenever possible for its truly decentralized nature (whereas the other two I mentioned still require operating through a centralized website), as well as the fact that I like the set up of their multi-sig escrow between buyer and seller. I would never touch a completely centralized service like LocalBitcoins which requires KYC and also requires you to give up custody of your coins by depositing to their wallets. Such a set up completely defeats the point of trading peer to peer in the first place. I would be tempted to use these forums to find other cash traders (and indeed, there are a number of users who I know are physically close enough to me and I would definitely trust to perform an escrow-less cash trade with), but I would not compromise my privacy by revealing my location and appearance to another user on here.

Appreciate the response. I understand and agree with your points but we are starting out with a centralized website because we think it is more user friendly and simpler to start with. We want a simple google search, and you are there. (there is also already enough hoops for a beginner with understanding how to use multi-sig wallet for the first time). We don't think we are losing that much by running on a website in terms of security and privacy as long as everyone has access to the code. We will collect only the necessary data and will flush unnecessary data after x amount of time.

@o_e_l_e_o What would be your main concern about using a website instead of an application?

Quote from: buwaytress on March 08, 2021, 05:57:29 AM

Not sure if it's a cultural thing but most of the traders in my home jurisdiction, once you've done a trade on any of these platforms, we then exchange numbers and port over to a messaging app (wechat, whatsapp, telegram, depending). It's purely a trust system afterwards but I tend to do business with those long in the game (they're not crypto sellers solely, doing digital exchange for 15-20 years).

Yes, that is a very good point for online trades, more so then cash traders where we encourage outside communication. After you've traded with someone online enough times, you don't want to pay the platform fee and tend to push the communication/trading to a messaging app. I do it. I know most big time traders do it. But why?

The good about trading directly once you've done a couple of trades with someone:
1. No platform fee, only the transaction fee
2. You can decide the anonymity of your communications (auto-delete messages, encryption, etc...)

The bad:
1. Someone has to risk getting scammed after sending first. With a 1% platform fee, you have to do about 100 trades until you can "afford" to be scammed once
2. Won't hurt the scammers' reputation on the platform if you trade directly. Because you can't leave feedback
3. Inefficient trade. It is quite annoying to trade on wechat, whatsapp... because you have to agree on a btc price provider, lock the rate, calculate the amount that needs to be sent +/- the rate, send the btc address, send the btc, check when it arrives and if the amount is right, etc...

I would be lying if I said I don't do it BUT that is part of the reason we started the platform. We are focusing on the good and fixing the bad. For the risk of getting scammed when trading directly, we are offering a multi-sig escrow wallet with an option to dispute. All disputes will be reviewed by an admin who actually traded/used the payment method before and not some random customer support agent. For the lack of reputation in direct trades, we have a feedback system. For the inefficient trading system involved in using texting apps, the platform offers an intuitive system to trade. And to fix these issues, the platform is still doing a good job of keeping trader's information as private and secure as possible, away from third parties' hands. Also, we haven't decided on an exact platform fee to charge but most payment methods will be less than 1% (and between us, it will be prob be 0.5% for most payment methods).

After all is said and done, if traders still want to communicate outside of the platform and drop their Signal/Ricochet/Telegram numbers, I don't think we'll ever block them. But we will warn all traders that this might hurt the dispute process and hurt them more than it will help them. So no more one22 7six3 eiggght 9too8 Wink

Thanks for the responses guys. Keep em coming