Would you guys be interested in a trustless, non-profit multisig marketplace?

Hi lovely people of reddit.

Like the title asks, would you people be interested in a marketplace concept where

As the whole concept would necessarily have to be non-profit, such a market could only run sustainably if supported through donations.

What do you guys think? Is this something that you could see yourself using?

edit: Thanks for the feedback.

Say everything was PGP-encrypted and everything was multisig, would such a market even be breaking the law?

What if I developed the market and then released the code for everyone on here to play around with? Would someone on here be able to make something good of it?

also: What happened to OpenBazaar? Is that still a thing?


Comments


[50 Points] ShulginsCat:

Yes, I would definitely use it. Especially if you also handle selecting the arbiter randomly from a pool of volunteers. That would be awesome.

EDIT: in fact, OP, if you do this the first 3 months of hosting are on me. Plus I'll write an electrum plugin to make the multisig easier for ppl. How's that?


[14 Points] Tripple_T:

Yea, but it's a pretty terrible business model


[11 Points] youtakesally:

The answer is so obvious you are already loosing time asking this.


[6 Points] ServerMagic:

The issue with this solution is the market admins risk vs. reward. If the reward of giving to the community is enough for you to face a life sentence, then do it.


[8 Points] bertmagert:

yes


[9 Points] None:

Nobody is stupid enough to run that site on donations. If they are that dense, I would not trust them with the responsibility of running a market. The people who are in charge deserve the 4% tax they are paid, especially consider the recent judgement handed out


[2 Points] free-agent:

If you had multi-sig and honorable arbiters, why would you even need a market? Would a forum type setting like this one, or aether fill the need to have a site?

I know everyone wants to just use a market, but wouldn't it be better if we all knew how to use multi-sig properly and just deal with each other? It seems that with coinb.in you could properly implement something like this.

We should be trying to build a web of trust, not distrust.

I say aether because it is a decentralized network, which means that no one hosts it. Just an idea.


[5 Points] None:

The guys over at Open Bazaar may be able to help you or use your help.

https://github.com/OpenBazaar/OpenBazaar


[2 Points] Traxx187:

Guys look up shadowcash!!


[2 Points] MLP_is_my_OPSEC:

What about open sourcing the code?


[2 Points] procowtipper:

What advantage does multi-sig have over FE for well established vendors? From the vendor's perspective, I mean.


[2 Points] None:

and like half of ross ulbrichts charges wouldn't even apply to you if caught, you might escape with less than a life sentence, but definitely a dumb idea, because you are very likely to get caught


[2 Points] karelb:

Yeah, about that...


[2 Points] None:

Isn't this basically OpenBazaar?


[2 Points] pistoncspecialist:

an honesty system with a suggested donation each month to the admin would be my suggestion and an Escro system which was looked after by each individual vendor so getting rid of the ye olde exit scam concern, in my opinion the person who looks to set something up properly without thinking about how to get filthy rich will be the most successful, the volume is so crazy that doing the right thing is a no brainer, obviously the anonymity is an issue but the longer the market exists, the less this will be a problem


[2 Points] mindfulmu:

Only if you gave it an odd name, I pitched "thegaybar" when the Havana marketplace held it's contest. I think if you did make this, you should name it "thegaybar". The reason it's simple, first you make it harder for media to report on you. You have your theme all set, and imagine the avalanche of pussy you'll when you tell people "I'm the creator and operator of thegaybar".


[2 Points] Hank_Vendor:

nah... only person whod do all that work for free would federalis.

as a vendor - i dont give a flying fuck if markets charge 4% or 10% if that extra 6% makes them less likely to rob me - or even better, persuades them to implement a feature which preventing themselves from robbing me.

I think it has some good parts, but you need to wet your own beak a little bit - we arent helping orphans here


[2 Points] ThrowawayTehGay:

I've brainstormed some ideas along this very same line myself. The simpler the better. With no real active scripting or backend applications or databases, you limit your attack footprint and can more easily avoid the influence of hackers and LE.

Along these same lines, I would love to see a secure open-source market template for individual vendors to quickly and easily spin up their own online presence.


[2 Points] None:

What about subscription based? You pay for one month access at a time.


[2 Points] six--pack:

It's already happening at https://github.com/six-pack/client

There is a long thread on The Hub


[1 Points] andblowyourhousedown:

Sure.

Are you planning to set up such a market?


[1 Points] bertmagert:

i have seen a couple of coins that have a decentralized markets that would do the job but just recently herd about NXT coins freemarket. I emailed them to ask about the escrow situation. From what they said it will be available in the next couple updates.


[1 Points] Intothekhole:

I would donate to this for sure


[1 Points] None:

[deleted]


[1 Points] ShulginsCat:

would such a market even be breaking the law?

Probably. The site was not designed to conduct business within the constructs of law. Specifically, if the site admin is asked to remove a specific listing because it is illegal - and he doesn't comply - it is knowingly allowing an unlawful plan and thus, probably, part of a conspiracy.

A site like bitrated.com - while cosmetically the same - will take steps to monitor and remove illegal listings thus keeping it within the boundaries of the law. However IANAL this is just my understanding of things.

Would someone on here be able to make something good of it?

Honestly, I don't see the point in doing that. The entire website basically consists of a forum with a couple of plugins. The main burden here is to host it and maintain it. If you're not willing to do that, this entire discussion is irrelevant. Yes, this is a good idea. It's been brought up (in several variations) in this sub many times before. It all comes down to who's willing to actually make this a reality.

What happened to OpenBazaar?

It's ~6 months away from being ready.


[1 Points] defiantlyfucked:

The only thing that would be truly trustless would be an adminless system.

At any point in time an admin, by definition, has full control.

Imagine sock puppet vendors drop shipping their product, secretly controlled by the reputable escrow party. Once there is enough reputation and escrow money to warrant it, exit scam just like the post SR markets mainly do.

You would need a decentralized process of choosing an arbitrator. Arbitrators should be motivated by profit, somehow. And anyone should be allowed to become an arbitrator to keep the escrow fee competitive.

This is way above my pay grade, but it is a good solution.


[1 Points] LennyShelby__:

Please do this and yes I agree release the source so new markets can easily be started again once you have been shut down.


[0 Points] rondeline:

Sorry but nonprofits are more scrutinized than private sector business. Pretty your books are open to the world and you have to get yourself audited every year.

Just the administrative headaches make starting nonprofits more risky than a startup.

So collect the fees!

But by the way, why wouldn't mutisig get built out on the blockchain? Seems like the tech is available and you can process transactions like some mining scheme with bitcoins?


[0 Points] None:

Non Profit == operated by the cops...


[0 Points] None:

no offense, but i really cannot see a market operating for the "good" of the people . why would you want to do this without taking any money ? how much in donations do you need ?

charityscam


[-1 Points] hdheuud:

I couldn't get past the title. All I could see after that was scam No one is going to make a non profit dnm, ever. Unless some really nice coder with a drug habit is on his death bed


[-2 Points] ghjkl_:

Why would anyone risk prison for nothing in return? Sounds like LE to me. Create an idealistic sounding market with features that people want to draw interest, and then sit back and collect info.