Ideas - Decentralized, Private Sales

As everyone knows right now, the markets hich we like to explore all share a common problem: unreliability. Whetehr it's Sheep pulling out and running off abruptly, BMR unable to operate despite Backopy's respectable work, and SR2 closed for the holiday's.

We're at a point that some may call "make or break" but it's clear the only future of DNM's and related trades are only going to get better, and more competitive. Scammers will always be around, everywhere some asshsole is waiting to manipulate vulnerable people while they sit in the Nigerian sunlight on westernunion.com.

Many vendors have gained a reputation, and this is a priceless development of trust with your clients - especially if you have some conversations here and there. Escrow WAS a privilege (and there is lots of space for it in the future), but it is now clear that the centralization of escrow on DNM's is a huge flaw.

For now, many people are doing private trades with vendors they trust (if you're worried about getting scammed from a high-rep vendor, just keep your cost per purchase low and f you lose, it's not the end of the world. The only other option of course is to abstain from your darknet goods).

I want to get sellers and buyer's opinions on this matter, and I believe a huge selling point for a marketplace would be having an escrowed transaction value (post-commission) locked with the private PGP keys of the buyer and the seller. That way, the market operators get their cut, but they have no large 'bank' to entice them to run off with our coins.

As a temporary fix, I think a structured forum based on PMs with PGP encryption would be a good, safe start. The only problem with this is that new vendors can't enter the market, as it will take a lot of persuasion to entice buyers to buy from a vendor with little or no feedback.

Any ideas to add or counter mine? Let's make some progress without dependency on centralized organizations.


Comments


[1 Points] None:

I sent an invitation via pm to you to join the discussion on bungee54's forums that have been taking place concerning this idea.

I also quoted and linked youR thread there as well.

DC


[1 Points] sheeproadreloaded2:

Yes, I've given a lot of thought as to how to keep the best features of the "silk road model", whilst eliminating the worst.

Silk Road was a bit like Napster - it changed the way people think about buying drugs forever - just like Napster did for music. However, napster used a centralized server, which is why it could be closed.

Lets look at the good and the bad of the SRM (Silk Rd Model):-

*GOOD****

1) Bitcoins are anonymous for small transactions 2) Escrow facility - the only way for two anonymous parties to trade with confidence

3) Feedback and reviews for vendors, buyers and products

The BAD***

  1. Central Server, which the FBI can get hold of
  2. "Wallets" on the site aren't really wallets. The site owner has your private keys, and this is a temptation for the owner and hackers
  3. The escrow is on the site, it can also be stolen (SR 2.0)
  4. The escrow requires admins to settle disputes. they can blackmail customers and force the owner into taking out a "hit" on them (SR),or just get arrested (SR2.0)

  5. staff,such as admins, are a weakpoint. they're breaking the law,can be arrested and blackmailed

  6. "governments are like nappies (daipers). they should be changed regularly. And fo rthe same reason". That's why presidents have a fixed term of office. A successful president retires a millionaire.

NOT A SINGLE DARKNET MARKET OWNER HAS SHUT DOWN IN A MANAGED WAY AND RETIRED GRACEFULLY.

THEY GET BUSTED (DPR), Rob us, or decide to rob us before they get busted.

7. Keeping large amounts of centralized bitcoins IS NOT ANONYMOUS. IT STANDS OUT LIKE A SORE THUMB ON THE BLOCKCHAIN. This is another reason owners find it hard to retire with their bitcoin

However, there is a marketplace called "SafeRobot" which avoids many of these problems. This is How:-

  1. DECENTRALIZED. the only central service is a web board for vendors to post offerings. The site holds user IDs, passwords, feedback, but NO BITCOINS and NO ADMIN STAFF.

Somebody reboots it occasionally, and an odd-numbered voting board of trustees can hire programmers to fix things.

The site just allows a vendor and a customer to do a "handshake", then they go offsite to formulate their own deal. Then comes the clever part..

  1. "MEXICAN STANDOFF ESCROW" using a standard bitcoin wallet, a "key splitter", and a third customer as an honest broker.

This is the part I gave the most thought to. An escrow that can't steal your bitcoins, because its a newly-generated, standard bitcoin wallet. Site admin don't sort out arguements - another user of the site does, for a commission fee. This is how it works:-

An escrow requires three people - the vendor, the customer, and somebody unconnected to either to decide who gets the bitcoin in the event of an arguement

The vendor and customer met on "Safe Robot" and went off to negotiate their deal. the customer then pays for an escrow to be generated, after they write down their deal and click a button.

A new wallet ID is generated on the blockchain. the customer and the vendor receive the public key (the wallet address). The "key splitter" passes the private key to another customer on the marketplace - a volunteer in a pool of "honest brokers".

The customer funds the escrow, plus 6% commission to the site. The vendor can see they are good for the money,and posts the drugs, book, or whatever the item is. It's irrelevant - its their own private one to one deal.

9 times out of 10, the customer gets his bag of weed, and messages the "honest broker" who gives the private key to the vendor. The vendor now has both keys and can get his bitcoin. They give each other good reviews to the honest broker, and the broker gets paid half of the 6% commission.

If something goes wrong, the vendor and the customer both type their case into an online box, stating their case and offering evidence (tracking numbers, photos etc). The honest broker decides who's case is the strongest,and gives that person the private key to unlock the escrow.

The "honest broker" gets all of the 6% commission in this case. Any user of the site can register in the "honest broker" pool.

The "Robot Market" runs for a fixed term of 12 months. It winds down in month 11, and its users and vendors can transfer their "score" to other, competing markets.

The board of trustees (probably three people) retire, millionaires. But, as they are beloved (like the real DPR) they can start another Robot market. They are known by their PGP keys or their bitcoin wallet addresses.


Where can you find this unmanned "Safe Robot" marketplace?

It hasn't been made yet. But its the only way forward I can see.

Silk Road was the Myspace. This is the Facebook.

Anyone can use this idea for free - its my gift. I am available to be a trustee.

By my wallet address https://blockchain.info/address/1AhYNAoMxDPD7bnNvxuSY9FB1CDviEuqzZ

thou shalt know me.

I intend to give it its own thread, just as soon as I see what this Defconn guy at SR 2.0 does with my 0.7 BTC vendor upgrade. I've emailed him warning him not to steal it, and offering my help.

If he steals it, he's toast. The trap is already sprung. I think he's just the janitor, trying his best to keep things going after the Dreadful pirate Robert 2.