What do you dislike about Purse? I was planning on using it for a few large purchases soon...
Quite a few things, the fact that many of those earners keep canceling orders after accepting them and coming up with some funny excuses is annoying, Purse team said they penalize those earners when they do it quite often but that doesn't really change a thing, the main problem I have with purse, however, is the fact that the way it works gives the earners more advantages over the shopper, whereby they indirectly have the chance to trade "safely" using your bitcoin, and here is an example.
You placed an order on March the 10th and it gets filled the same day when bitcoin price was trading for $8000, your order total is $4000 so you have to pay 0.5
BTC - discount, that amount sits in purse.io escrow wallet/account.
To this point everything is great, say you got a 15% discount and paid only $3400 which is equivalent to 0.425
BTC, the shopper wakes up the next day and sees bitcoin price at $4000 when they have technically bought it for 8000+15% = $9200, in a fair scenario, you being shopper should not encounter any loses because you have ALREADY paid the amount in
BTC according to the price of the date of purchase, but the shopper being a human being and seeing they can ctr+z what's considered a terrible trade they can easily cancel the order, (even after it has been shipped in some cases).
In other words, the earner has all the power to chose between 0.425
BTC*4000$ = 1700$ or $4000, I am not aware of so many honest human beings who will accept their bad luck/judgment and settle for $1700 when they can cancel the order and get back their $4000.
Once and if they do so, Purse will be nice enough to refund you the 0.425
BTC which now worth only $1700, so you simply lost $1700.
Now let's look at the other scenario when
BTC prices heads the other direction from $8000 to $16,000, the shopper can't cancel the order and the earner will receive 0.425
BTC or $6800 as opposed to $3400, which makes sense as the shopper needs to take that loss and accept their bad luck.
So in a nutshell, the shopper has the advantage regardless of where bitcoin price goes, it goes up - they make more money, it goes down - they make more money too, and everything is the exact opposite on the shopper's side, those are just examples, you don't see bitcoin go down or up 50% every day but with bitcoin being so volatile you are always subject to the example above regardless of the percentage.
There are probably a few options to fix this major issue, using a stable coin might be an option, I am sure purse know better, and it may not be just a matter of a piece of code added to their website, and I am also sure many earners have complained about the issue so maybe someday in the future they will fix the issue.
With that being said, it goes without saying that based on my experience, Purse.io has probably the best support team one can ask for, the user interface is great, it's probably the best option to those who make small personal orders, but making large orders especially if you are planning on doing business Purse.io might not be the best option in my honest opinion.
