Bitcoin Forum
October 31, 2024, 04:26:52 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: [ANN] METAmarket - Trustless Federated Marketplaces  (Read 3097 times)
Shindo1988
Full Member
***
Offline Offline

Activity: 154
Merit: 100


Bitcoin Samurai


View Profile
May 10, 2015, 11:39:33 AM
 #21

Your whitepaper does not describe how a "nominal" registration fee (easily afforded by scammers) completely eliminates the possibility of Sybil attacks, aka "the absence of reliable reputation information". Are moderators going to make the fee so high and the requirements so stringent that they can afford to fly out and personally run live fingerprints, DNA, retinal scan? And having to trust moderators to kill Sybils is only "trustless" if it means "trust less than 100% but more than 0%".

You can never 'completely eliminate the possibility' of a Sybil attack on any reputation system .
The whole idea of MAD is that -both- parties have something to lose by being a dishonest trader.
In your scenario, the scamming buyer loses out on some kind of security deposit put in escrow before the trade.
The whole point of the security deposit is to incentivize honest behavior.

This goal is achieved in a different way with METAmarket.

Rather than scammers being incentivized by security deposits,
they're incentivized by the potential to lose their registration fee,
and whatever time/effort/BTC has been burned building their current identity's reputation.

Here's a quote from Jeremy Spilman (also quoted in the white paper):
Quote
The first option is to lock up some of Bob’s coins along with Alice’s. That way, Bob can’t simply troll Alice into losing money without losing some of his own. Technically, what we need to do is collect properly sized inputs (account balances) from both Alice and Bob, and then collect all the coins together into a single multisig output.
...
The second option is to setup an automatic release from the escrow where coins are either sent back to Alice, or split some way between Alice and Bob, at some predefined points in the future.

Scammers don't care about reputation, they use/buy new accounts all the time.
I don't think your market will work well in that section.

Have a look in these forums and you will see that some Sr. and Hero members are nhot really who they were when they created the account.
It is sold accounts that were bought by others for one of two reasons: Signature campaigns, or to scam others.

╲╲ ╲╲ COINOMAT.COM ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
╱╱ ╱╱ First Instant Crypto Exchange                              Sign Up Now!                    Visit our Facebook & Twitter
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
TheButterZone
Legendary
*
Offline Offline

Activity: 3052
Merit: 1032


RIP Mommy


View Profile WWW
May 10, 2015, 09:24:16 PM
 #22

Make it 2 of 2 multisig so the scamming seller/scamming buyer have mutual assured destruction.

METAmarket does in fact use 2of2 multisig escrow.
Please take the time to read the whitepaper before asking questions.
Thanks!

multisig does nothing to protect either party, if one party is dishonest.
All it does is just burn coins in case of disagreement.
The problem is, the coins are lost and one party has been f*cked by the other.

Here's a related story:
On Bitmit (site operator acted as escrow, not multisig), a seller shipped a buyer an empty flat rate box. Bitmit was sent what Bitmit requested for proof of scam (unboxing, showing the seller's shipping label, undisturbed packaging tape) - then denied that unboxing was what they said would be sufficient proof. Weeks if not months passed, Bitmit held the escrow all the while. Eventually the scammer seller released the escrow back to the buyer. Soon after, Bitmit shut down.

Ultimately the scammer wants BTC out of the deal, either BTC back that they don't deserve because they got the item as advertised, or BTC for sending nothing or an item not as advertised. An expert in game theory can probably explain this better, but my hypothesis is that the scammer will surrender the BTC in a 2of2 standoff if they have nothing to gain by not surrendering. Acting out of spite, would not fit in game theory due to rarity.

Saying that you don't trust someone because of their behavior is completely valid.
agentgreen420 (OP)
Newbie
*
Offline Offline

Activity: 21
Merit: 0



View Profile WWW
May 10, 2015, 09:51:47 PM
 #23

multisig does nothing to protect either party, if one party is dishonest.
All it does is just burn coins in case of disagreement.
The problem is, the coins are lost and one party has been f*cked by the other.

Actually in the case of METAmarket, no funds are ever lost in the case of a dispute.
Here's a quote from "THE FUTURE OF BITCOIN ESCROW" by Jeremy Spilman, that you may find relevant:

Quote
Alice only broadcasts the transaction which releases her coins into the escrow after she gets back the signed, post-dated refund transaction(s) from Bob. In other words, Bitcoin lets Bob commit to the fail-safe before Alice commits her coins to escrow, which is frankly pretty awesome.
Of course, the problem with Bob providing Alice a fail-safe is that now Bob might be worried about Alice simply waiting him out. But the fail-safe can be as ‘strong’ or ‘weak’ as the two parties want to make it, so it’s likely they can agree on something. For example, 25% refund back to Alice after 6 months, or 50/50 split after 2 years, anything is possible.

This information is presented in the preamble to the METAmarket whitepaper.
Please take the time to read the whitepaper before making assumptions.
agentgreen420 (OP)
Newbie
*
Offline Offline

Activity: 21
Merit: 0



View Profile WWW
May 10, 2015, 10:02:13 PM
 #24

Scammers don't care about reputation, they use/buy new accounts all the time.
I don't think your market will work well in that section.

In order to transfer your METAmarket identity to another party, you must give them the Bitcoin private key associated with your ID.
Obviously in this scenario the seller of an ID may retain a copy of this private key and use it to steal any funds spent to it without the ID buyer's knowledge. IDs are deterministically based on a set of Bitcoin and Bitmessage keys.

Therefore the transfer or sale of METAmarket IDs is not likely to happen at all.
agentgreen420 (OP)
Newbie
*
Offline Offline

Activity: 21
Merit: 0



View Profile WWW
August 21, 2015, 02:55:49 AM
 #25

ALPHA RELEASE NOW AVAILABLE ON GITHUB!!!
https://github.com/metamarcdw/metamarket/releases

RECENTLY FEATURED ON POPULAR TECHNOLOGY PODCAST "Sovryn Tech"!!!
https://soundcloud.com/sovryntech/svtep0135
(at about 1:24:00)
dopecoindude
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


The Dude Of DopeCoin


View Profile WWW
August 31, 2015, 11:05:07 AM
 #26

ALPHA RELEASE NOW AVAILABLE ON GITHUB!!!
https://github.com/metamarcdw/metamarket/releases

RECENTLY FEATURED ON POPULAR TECHNOLOGY PODCAST "Sovryn Tech"!!!
https://soundcloud.com/sovryntech/svtep0135
(at about 1:24:00)


So DOPE!  Grin

edit: I sent you a message on reddit Smiley

It is here folks. DopeCoinGOLD . The #1 Crypto-Weed Coin.
agentgreen420 (OP)
Newbie
*
Offline Offline

Activity: 21
Merit: 0



View Profile WWW
May 14, 2016, 10:22:00 PM
 #27

For anyone still following this project:
PyQt GUI development for buyer client (known as METAbuyer-Qt) is nearing completion!!!
Screenshots:
http://metamarket.trade/img/montage_scaled.png
Financisto
Hero Member
*****
Offline Offline

Activity: 640
Merit: 771

BTC⇆⚡⇄BTC


View Profile WWW
May 16, 2016, 12:11:08 PM
 #28

This is a good project. Congratulations for the good work!

I'm following it!

LIST • ESCROW providers • Ranking & ScoresLIST • FOSS BrainwalletsBTC ⇆⚡⇄ BTCBTC aka BTC: 16MBvhaJoRBxW3Vk6apnvz3UYT9HAgraVS ⚡ PGP: 2680207AA9A1B69FE7A033D80DE0F221074384C4 ⚡ If you think freedom matters, please support the development of these privacy projects→DONATE some sats: TailsQubes OSWhonixVeraCryptPicocryptKryptorSimpleX Chat
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!