"proof of stock" Feature.
@btmr Well I see MAD as a bit of a barrier for buyers and sellers in it’s self. something like this could be used to give buyers more confidence in buying a listing that had a lower (example 20% escrow) MAD percentage but mostly it is to address the possibility that whales of a competitive project may list items and take a loss (not sending anything and leaving coins locked) just to hurt the reputation of the marketplace. this would allow sellers and buyers a little more peace of mind when it came to locking up coins. your right about it being a hindrance to do this time and time again but this feature might come in handy/be useful more so for new sellers who have yet to establish a reputation. after reputation is established it may not be necessary.
thanks for your comments and your thoughts on my idea! greatly appreciated.
this would allow sellers and buyers a little more peace of mind when it came to locking up coins.
I see your point. Until a user has had a couple of good experiences, MAD escrow might feel a bit like gambling.
Maybe this is where a chat/message function will help to establish trust.
chat function could be used for this in example if you were selling something I could request a photo and make up a code of my own for you to display in the photo but I think a feature like this would help standardize taking extra precautions against new vendors/sellers helping to avoid people getting burnt on the market and in turn help the seller raise their reputation more quickly as the listings would be marked to indicate that the seller had gone thru the “proof of stock” process and it would save time and effort on both the buyer and sellers side rather then going the chat route.
Isn’t inventory management part of the roadmap?
I think together with seller profiles (identities) this could help as well.
It is but I wouldn’t know what “inventory management” really means in terms of features.
From the roadmap:
Lets sellers manage inventory quantities and product attributes (i.e. clothing size, color, fabric, etc).
Allows sellers to manage their inventories much more easily. It also allows them to better describe and announce their products by creating/using custom attributes such as product size, duration, colour, etc. These attributes act as filters when browsing the marketplace.
Hmm… sounds like features for sellers, not for buyers.
As far as I understood inventory management would mean, that I can put 10 items for sale, e.g. 6 green shirts and 4 blue shirts. When the seller accepts a first bid for a blue shirt the system knows that only 3 more blue shirts are available. Once the seller accepted its 4th blue shirt bid, the item would be signaled to other potential bidders as sold out. That’s how I understood inventory management.
I think also with the paper code there will be a chance for bad actors to cheat, e.g. holding the paper in front of a picture (but I’m not quite sure if I got the point dadon was talking about).
Good to know!
Will keep an eye out for that come testnet.
@Pancake Inventory management will allow you to specify how much of something you have in stock so if you have 10x blue t shirts and 5x red t shirts and you have had 5x sales of the red shirts AKA sold out it will specify this product in option red is sold and you wouldn’t be able to select that option but would still be able to select blue shirt option until 10x sales was reached or you relisted and updated inventory.
This is a proof of stock helping to establish you actually have the product you are claiming to be selling in your possession at the time of listing as for holding a piece of paper up in front of a picture to trick people into thinking you have the product I think this will be much more obvious then you might think and if not there could be a standard set for the photo for example the piece of paper with code sat next to the product and not held up in front of the camera like you suggest a scammer might attempt to do (See 2x photos I have uploaded as an example below) also the ability to flag the listing if the photo used looks suspicious or does not not follow standard set could be another option to combat this problem of bad actors attempting to trick people using various methods like the one you suggested.
Thanks for the pictures!
What information the code now gives to me as a potential buyer? I guess I should then have to countercheck on a kind of “timestamp” list, provided by the marketplace, whether the code matches with the upload-time of listed item. Is it that what you mean?
Better would be the marketplace would check by itself whether the code matches on the listed item picture, but I think this would be in general difficult to realize.
@Pancake Yeah I don’t know enough about what is possible to expect dev team to be able to make the system automatize this process I think for now the best way is to just allow the potential buyer to cross check it themselves. but in the future when the platform has more users it could be possible to approve via voting but even then it would cause delays if people were not actively voting/approving so it would need to be incentivized somehow. so best option is just allow users to verify for themselves by cross checking the code provided by the system to the code provided by the seller in the photo.