Bitcoin Forum

Hi!

A year ago before mining hype I made my first rigs. Sometimes I faced problems with buying GPUs when everybody wanted to become miner but more problems occurred when I wanted to sell my old rigs.

While I was selling I had to deal with a lot of fraud: criminals, fake money and so on. Also there was a problem with demonstration of rig I have to show buyer that rig is working. I can't do that at home or in the building where all rigs are situated because it's not public place. And the most annoying thing is wasting 2-3 hours on each deal. If you have 100 rigs you have to make 100 appointments or even more.

For buyers this process in also not very secure. I know people that were scammed while trying to order ASICs or GPUs. And it is very difficult to find good rig on forum or Craigs List there are no specific filters and it takes a lot of time and effort. And if you order a delivery you can't check whether rig is working or not. You need at least 24 hours to make sure that everything is ok with used rig.

Then I came up with the idea of making specific marketplace for miners with smart contracts and rating system. Buyer pays ETH in smart contract then seller sends rig to buyer for inspection. Buyer has 24 hours to check everything if it's fine then seller gets ETH if not buyer sends rig back then seller checks if nothing is missed and ETH goes back to buyer. In case of conflict there will be arbitration process. Detailed procedure is written in draft whitepaper. It will be possible to find lawyer, investor, engineer, logistic company, staff and everything that you need to organize big mining farm in one place.

Later I plan to negotiate with manufacturers and suppliers to put warranty and serial numbers of equipment in blockchain so when you buy you can check whether the warranty is still valid or not and you can send GPUs on warranty without papers.

This is very short presentation of the idea I have long version on 15 pages that needs a little work to go public. I just wanted to ask community do you need such marketplace or not? What problems do you face while selling your used rigs? I want to invest money in team that will make MVP and then maybe we try to go on ICO.

I generally try to sell my items to people that are somewhat trusted and at least Full Member in rank and always use a trusted escrow in my transactions. Haven't really had many issues since, though I have conducted all my trades on Bitcointalk and not on other places like Craigslist that you listed. A simple picture of the miner with your name and date that you posted the sales thread in conjunction with a pool stats screenshot or miner status screenshot was always enough for me to prove that the miner indeed existed.

Although the idea is good and many people would benefit from an online "mining-specifc" marketplace, execution as always would be a problem.

Even if you use smart trustless contracts, there would still be a human factor involved that could invalidate the entire platform. What if the buyer says it's broken and asks for a refund when in reality it works fine? Basic questions like these are a problem not just in mining or crypto, but in majority of online orders.

There are some ways...for example seller can film his rig and serial numbers before sending it and if buyer says that rig is broken in order to get money back he has to send that rig back to seller, seller has to inspect that all serials are ok if not he refuses to receive delivery and sends it back (meanwhile he sends screenshots). In this case third party inspects their conflict and there is procedure when people decide who is right or wrong after that ETH goes to person that is right. I guess I have to post entire whitepaper to explain all possible situations...

I think "put warranty and serial numbers of equipment in blockchain" is a great idea.
I don't know how to make manufacturers playing the game of blockchain, but it would be great.
Not matter of old invoices and papers.

And it concerns every equipment, from usb key to cars and tyres !

Yes but this problem Walton chain and Venchain is solving I just want to integrate them into my platform and make deals with manufactures in my market.