[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 457 KB, 1920x1920, E4E222E5-1900-46D4-A904-3B6D6B7F0365.png [View same] [iqdb] [saucenao] [google]
9746155 No.9746155 [Reply] [Original]

Bought a trust node because why not?
What should I expect from this in a year?

>> No.9746175

>>9746155
A few hundred dollars plus the valuation increase of your tokens

>> No.9746203

Selling for a loss

>> No.9746491

>>9746203
this 95%

>>9746175
this 5%

>> No.9747253

>>9746491
This

>> No.9747492

>>9746155
give it to me straight, bagholders.
Will this project ever get adoption? I looked into it, was even interested in buying at some point, but lost interest. Why hasn't this replaced Localbitcoins the moment it launched? Not even shitposting, it's genuine question. From my research this seems better than Localbitcoins and Bisq, so what gives?

>> No.9747586

>>9747492
everybody is buying nodes but nobody is using the platform. They need volume, the actual working product is there.

>> No.9747733

>>9747586
Yes, I'm aware of this. My questions is why the fuck is nobody using this? Hell, I would even use it but it's just a wasteland. Is this a case of chicken and egg? There are no people selling cause there are no people buying and there are no people buying cause there are no people selling?

>> No.9748045
File: 103 KB, 470x357, 1394753107220.jpg [View same] [iqdb] [saucenao] [google]
9748045

Ok, nevermind. Did some more research into this and they didn't solve shit when it comes to fiat-crypto. Escrow and fiat are a meme. As a crypto seller you're at the mercy of pajeets that can make your life hell.
Found a thread on reddit where some guy raised the same concerns as me when it comes to crypto-fiat. Deluded redditor's answer basically boiled down to: "There is no economic incentive to lie, only if you want to fuck with the other person."

Well I guess if the only weakness of this platform is people wanting to fuck other people, that's a non-issues since the world is full of decent and honest men that will never do this.

>> No.9748301

>>9748045

What? Escrow nodes prevent scams since the funds are not released until both parties agree. If there is a dispute, the escrow node party cancels the trade.

The seller has to have the crypto stored in Payfair, so it will not be released until the buyer pays.

Now you could still charge back with PayPal. But I wouldn't want to accept PayPal

>> No.9748366

>>9748301
>I want to sell crypto for fiat.
>Pajeet tries to scam me
>doesn't actually send fiat
>my crypto stuck in escrow until dispute is over
>try to do it again
>pajeet tries to scam me again
>repeat for 2 billion pajeets

Yes, you could argue that the chances of a pajeet actually scamming someone are close to 0, but that doesn't stop them from trying and ruin my day and make me not want to use this platform.

>> No.9748555

>>9748366

I mean true, but there is incentive for the escrow node parties to resolve the issue
quickly. On any peer to peer exchange, there's always a risk a people scamming you. It's just hard to actually get away with it on Payfair unless you let the buyer pay with paypal or something else that gets charged back.

I think all arguements for this platform need to be vetted. We need a month of 100k daily volume to even see if the platforms concept works.

I do believe BTC trading pairs will increase the volume. But I am nervous about ever seeing the 100k daily volume.

>> No.9748758

>>9747253
Definitely this.

>> No.9748759

>>9748555
I don't even know how the nodes could resolve these issues? I can photoshop a bank statement perfectly and I'm average at Photoshop. How the hell does dispute resolution even work? If I'm a node, do I literally have to be on the clock 24/7 to fix people's shit?

>> No.9748784

>>9748758
possibly this.

>> No.9748940

>>9748759

Node holders receive a notification. You don't have to always be online to participate. You can also consult with other node holders like a jury to decide who's case to rule in favor of based on evidence or lack of payment.

It's actually really innovative to be honest. When this thing gets some volume, I'm really expecting market price discovery.

>> No.9749008

welp.
call me when they find a way to automate the pajeet problem. If a system can be abused, it will be abused and it will make life a living hell for everyone, users and node operators alike

>> No.9749280

>>9747733
They are rolling out a marketing program that started 3 days ago. Give it time you adhd cokehead