Bitcoin Forum

So how are they moderating the payments?
Are they using some form of escrow? Otherwise it would be a scamming fest?
But in a decentralized market escrow is pretty inpossibru?

It will work like any other online marketplace (ebay, amazon, etc). Users will need to build trust and use their ratings to show that they can be trusted.

Escrow might be offered by the service, but it won't be used for all transactions as for one it would cost time and money and you don't want that for small low cost items.

Start could be a scam fest indeed, until reputable sellers have built reputation.

I assume it will work with Web of Trust, which will be rigged right from the start with thousands of fake accounts giving each other good ratings and fake feedback.
I suspect this will turn out to become a big scam fest.  We will see. The idea as a whole is awesome of course, just like bitcoin.

Are they even up yet? I tried their website that was posted on another thread but it was idle and not going anywhere. When does it officially open to the public to start using their service?

Didn't tried it yet but if you visit their website now you will find a download button.

they're up and running as of 6 hours ago.


https://blog.openbazaar.org/how-moderators-and-dispute-resolution-work-in-openbazaar/

they uses 2-3 multisig address. so the escrow can't do anything with the bitcoins without the consent of either the buyer or seller. at least this will make things a little safer.

The site just spun it's wheels when I tried to get to it. It showed nothing and sat loading for 1 minute, idle.
I think it was overloaded if there are numerous amounts of people downloading it's client at the same time.
Now I know, thanks for the update on this.

its still possible in some sense for escrow to be involved.

As long as the source of the third party holder stays legit.. thats why we have a reputation on this forum. So as long it has something similar with a feedback system it should be the same?

But trusting 100% is a foolish dream, since we do see rare horror stories.

It looks like the buyer picks the moderator and the funds will be sent to a 2-3 multisig address.
Sounds like an easy team up between buyer and moderator to scam the seller.

Possibly the seller has to agree with that specific moderator first? If that's the case, how would a seller determine the moderator is trustworthy, since there's not trust system builtin to OB?

it will work exactly like ebay with trust and everything, but without a centralized autorithy, so scamming is more possible

for example one could simply build some trust with small amount to scam big later, like someone has already done here, cough tradefortress cough

Unfortunately OB doesn't have a trust system.  This would have to be done by a 3rd party outdide OB somehow... which really complicates things and doesn't help the whole thing get off the ground IMHO.

I suspect the same, the smart ones will either avoid it or use it for small trades but the noobs will get eaten up, like they usually do. Wait and watch for the biggest scams..


Would a trust system really would have made any difference?

same wih you,just open the blogand site,but just found download button,i still dont get what is that exactly,maybe somebody can tell us how to join open bazaar and be part of that free market.

download, install, open OpenBazaar. there, you just created an account.

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and not sure why people are complaining about decentralized escrow system of a decentralized market that uses decentralized money.  ::)

 I did not try open bazar yet. I think that online markets can not be decentralized without an escrow that save buyers from scammers.

I'm downloading OpenBazaar now, lol.


They surely can be decentralised.
Maybe there might be a time when a person's trust rises up so high and they will volunteer to do an escrow service.

Just try a small purchase or sell something small at first to test out their service. You will be getting trust points while doing this test buys/sales. Then check back in a week to see how it is rating with everybody else here. ;)

recent update seems to have borked the connectivity - hopefully a minor temporary setback

Isn't any escrow service here yet?

Their client doesn't seem to work with Windows....can't get it to work.

it did work on windows until the update yesterday

I was able to set up a shop on my laptop two days ago, can't even access the shop when I tried searching from another pc. Now it isn't working.

that's probably because your shop is not online. you have to be online for anyone to be able to access your shop.

update 1.1.3 released