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Author Topic: [2016-01-07] Sneak Peek at Bitcoin's upcoming killer app - Open Bazaar  (Read 1073 times)
Pkzone
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March 11, 2016, 08:32:58 AM
 #21

Can we have charge back or return of goods in the Open Bazzar?

As far as I know all orders will be done with a trusted 3rd party who the buyer will pay to moderate any disputes should they arise.

As a buyer you would pay around 50 cents to a dollar as insurance for this service, a service that should not be needed unless there is a dispute, understanding that the trusted 3rd party should be impartial and should side with the buyer unless the seller can prove the items or goods were shipped and received.

Now this is all built into the app to make it super easy to understand and use but whats really happening is when you buy an item with the Open bazaar app you won't be sending bitcoins to the seller you will be sending bitcoins to an address that nether you nor the seller can access, because it requires two of three keys to unlock. You are given a key the seller is given a key and the trusted 3rd party is given a key.

If there is a dispute the trusted 3rd party will decide to the best of their ability who gets his key. otherwise you will give your key to the seller upon receiving your items, if you don't the seller will contact the trusted 3rd party to open a dispute.

Trusted 3rd parties will also have a reputation rating within the app with feedback. They well be selling their services within the app.
Well, the usage of the 3rd party should be voluntary otherwise it IS the same as Ebay - PayPal + Bitcoin

BellaBitBit
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March 11, 2016, 12:32:23 PM
 #22

I really do have high hopes for  Open Bazaar to be  successful  because the traders from Ebay and elsewhere could make this an enormous global marketplace

Yeah,the killer app that Bitcoin is waiting for Grin

Imagine the possibilities if even a fraction of ebay users came over to Open Bazaar!  I also have high hopes for this, I like the 3rd party moderator concept and also that we each run our own store with our own computer power. It is still in Beta...any day now. 

I love Bitcoin
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