Silk Road forums

Discussion => Silk Road discussion => Topic started by: whynot on February 26, 2012, 04:56 am

Title: SR early finalize fee waiver...wishful thinking
Post by: whynot on February 26, 2012, 04:56 am
Im just throwing this out there......
Silkroad fees add what 10-15% on top of the 3-5% premium paid to get bitcoins to begin with. I get that SR has to make its money. I get that there is BTC hedging, and escrow protection...so when a vendor expects Early finalization....it would be nice if SR dropped their charge to a nominal listing fee since there are no protections to the buyer, only expenses.
Title: Re: SR early finalize fee waiver...wishful thinking
Post by: microRNA on February 26, 2012, 05:31 am
you are still using SR's services, which more time and effort and RISK than you can imagine has gone into to set-up and maintain, so do you not feel DPR is entitled to his cut of the transaction?

You should keep in mind this would be promoting early finalization, which is the bypassing the entire point of SR. DPR does not condone or support early finalization and surely is not going to offer any deals increasing the number of FE.

I agree the hedge fee should not be set on the orders at least however, seems like a pointless waste unless the majority of people are not finalizing early, and it is only required of new members etc
Title: Re: SR early finalize fee waiver...wishful thinking
Post by: whynot on February 26, 2012, 06:38 am
In response to your points:
1. Still using SRs services :
when I take my car to the service station I do not pay for a car wash if I opt not to have my car washed. If the car wash is out of service I certainly do not pay for a car wash. So if I have a transaction that is not being allowed escrow due to my country or buyer status or even a trusted relationship between the buyer and seller, I am merely suggesting that discounting the portion of the fee associated with escrow would be nice....with the understanding that SR would have no obligation nor ability to do anything should the transaction go awry. The hedge portion of a listing should obviously not be included in these transactions, as the seller has no real delay in accessing his funds, so fluctuations in BTC is irrelevant.

2. So do you not feel DPR is entitled to his cut of the transaction:
Yes I do feel a fee has been earned, as my original post states "it would be nice if SR dropped their charge to a nominal listing fee" Im not saying SR should not be compensated. I am saying that if the listing, escrow, and hedge are the services it would be nice to see a reduction when the bulk of these services and potential work involved on their part is eliminated from the equation.

3. This would be promoting early finalization: Perhaps I agree to a degree it would....but truthfully only in situations where the seller and buyer had established a relationship of trust. I would bet all my bitcoins that a number of vendors do off SR deals with repeat customers already. Having a "listing only" fee with no protection of escrow is no different then the current optional status of hedge. If hedge isnt used and bitcoin drops $3 overnight the vendor has no recourse....they chose not to use it.

The benefit of my proposal would be:
1. new buyers who are often expected to finalize early get a "new buyers discount"
2. people in countries that are expected to finalize early also get a discount.
3. Users and vendors who might make off SR deals because they are comfortable with their business partners are given an encouragement to continue registering their deals....due to the discount.
Title: Re: SR early finalize fee waiver...wishful thinking
Post by: Angelology on February 26, 2012, 03:54 pm
Im just throwing this out there......
Silkroad fees add what 10-15% on top of the 3-5% premium paid to get bitcoins to begin with. I get that SR has to make its money. I get that there is BTC hedging, and escrow protection...so when a vendor expects Early finalization....it would be nice if SR dropped their charge to a nominal listing fee since there are no protections to the buyer, only expenses.
Early finalization is bullshit, I've never done it. Go to tweetb he wont make you finalize early. He has weed though, Im not sure what you do.