can the escrow be adjusted for larger orders eg i want to buy something that is worth 1k it’s a little inconvenient to put up 1k escrow for larger orders could this be scaled down? say 50% or 25% your still loosing money if you try to cheat the system
This is what I meant when I mentioned in point 4 we have some cool ideas of how to give more power to users. We need to start with the basic and then add extra functionality as we develop.
can the escrow be scaled down after a satisfactory reputation is reached eg say i am a buyer or seller i have made 50 sales, purchases etc all my feedback is good so now as an incentive to continue trading honestly i get a reduction in escrow %
We have talked and researched the feedback/rating system, but the truth is 2-2 MAD Escrow should really prevent the need for one. I do not know at this junction how/if/when feedback/rating system will be implemented. The whole Shadow concept is about Privacy and once we start to consider this it adds a whole lot of complexity in managing a feedback/rating system.
i know this raises issues but some sales could be large 10k + having to put up 10k to spend or make 10k could be unattractive to a lot of users
Understood and as the ShadowMarket develops and we see the use cases we can then make informed decissions.
Their have been various attempts on Bitcoin but I am not sure either provide a complete solution protecting all parties; which one were you thinking of?
right… its not actually in the bitcoin protocol (but mabye soon with Blockstream)
at the moment its only possible through a third party but… may it can be in the functions in future… (deposite shadows to an adress and then automaticly get your file send via shadowchat ? or something similar)
Would be like Sathoshibox (Dont recommend i never used just heard of it and i think its a scam… so be aware… i dont recommend it @ all )
Honestly it is hard to say, no-one has tested it with 10,000 users let alone 50,000 or 500,000 users …
As with all things in life, as the usage increases new technology and improvements will be added to help scale the network (where needed).
Today I cannot answer your questions of what would happen but my gut feeling tells me it should be fine (think bittorrent) …
Lets not start sprinting before we have started crawling eh
IF you really want a secondary option use my proposed solution in the previous comment above.
Checklocktime verify from 2/2 to 2/3 with escrow agent. SO they only use an escrow agent if they both decide not to blow up the transaction. The escrow then if it times out from disagreement, they can choose to blow it up by clearing it and submitting the timeout tx. OR if they think it can be resolved with a third party they could accept to let it go to traditional escrow. But personally I have no idea what a third party will say in an ANONYMOUS market.
It is no secret that 2-2 with checklocktime (funds being spent as fees rewarding the miners) is my preference on this. It forces compliance to the escrow rules and both seller/buyer loose out if they are unable to settle. Forget trying to “sway” an arbitrator in your favor.
The only way I see “third party” escrow working is if the “third party” receives the goods and forwards it on; which lets be fair is a stupid idea for a decentralised market. Who wants to wait an additional 2-3 days on delivery for these awesome GPUs you found online at ShadowMarket?
What we need here is for people to stop thinking this will function like a traditional market. You want privacy? you want rid of 10%+ fees? you want your funds safe from the next exit scam? then you need to change the way you think about how and what is needed to gain those advantages.
As with all things, we have to put a spade in the ground somewhere and 2-2 is a great starting point.
EDIT : 2-2 is not the perfect solution for everything i.e. if you want to sell a car you are not going to put the value of the car as Escrow … so we will need to deal with these type of solutions as we gain more data from the market usage and feedback.
I don’t think there is much in depth out there yet. Probably only the Shadow dev team members know the full details for now. We can get a few clues though. For one they have said it will be based on ShadowChat. The way ShadowChat works is all of the nodes hold the messages for 48 hours, but only you can decrypt your message with your key. Also, if you look at the marketplace images they released, on the second image in small print it says shipping addresses and messages are only available for 48 hours and only available to the buyer and seller.
So I don’t think you need to be online 24/7 at all. But if you are offline for 48 hours straight it may send a notification to the buyer to resubmit their details or something, but I’m just guessing.
As for TOR, I am not sure the plans for integrating it. I know they mentioned I2P before which is a similar system to TOR, but uses garlic routing instead of onion routing. One idea is to possibly be able to use ShadowCore on the TAILS operating system, which is a live usb system that routes everything through TOR. But we will have to wait and see what they have planned.