Monero Market website has been released -- moneromarket.io  . It is for buying and selling legal goods. It is like Ebay but with XMR payments only and an escrow system. Anyone can buy and sell items. We have thought a lot about site security and making the escrow system as accurate and fair as possible. Monero Markets mission is to expand the use

cases of Monero and help solidify its legitimacy as one of the top cryptocurrencies

My posts on reddit announcing the release have been deleted and my accounts banned. It's kind of suspicious. Thank you to all that support the project

Which subreddit?

Where can I read how it works? I found nothing on the website.

It's kind of suspicious?

check out the site policies, it's at the bottom of the web page

Ok, found something: moneromarket.io/policies

Yes it's weird I can not announce the release on reddit. Let me know if you have any questions. I am hoping this is a better alternative to the r/moneromarket subreddit and can help monero reach more widespread use in legal transactions

Oh, it's an actual website, not a software ?

Well, not one we can run anyway ?

Looks like it.

How does the escrow technically work?

So, the escrow s...

r/monero and r/moneromarket blocked my posts. Also my account was banned after I made a post saying I would release the website in one week

Well, it's not really very trustworthy at first glance, is it.

Yes, its a web application software. Similar to ebay but with XMR transactions only

It basically says "send me monero" so far.

I rarely see such blocks and then bans happen on r/Monero, frankly. Somehow strikes me as improbable, at first sight.

If you hired some known person to be the escrow for part of your fee, that'd help a lot.

Known trustworthy. Might be hard to find though.

That famous coder with the three o's in the name maybe? :)

Someone's who's willing to take responsibility for other people's money :P

Three o's in the name though. Can't work out who. Mine has 5...

:)

Then again, that's just how the dark markets work, no ? You just send them money and trust them ? I guess they can't have known escrows.

A problem that doens't apply to you, thankfully.

Never used one, but I guess that vendor reputation plays a big role. So after the question how escrow technically work, my next question: How is the vendor reputation system?

xmrxmr, are you still there?

That's one thing that could help monero actually. A list of people who are willing to act as escrow for a fee, and who have a history of non scamminess. Then projects like this can hire them and not get that "send me monero" vibe.

I guess that's a pretty unthankful job. Whatever you do, somebody will be angry with you for sure.

I guess then we'd get the long game people, spending a few years being nice and them running...

True...

But hey, for a fee.

The site runs a hot wallet that connects to the backend. Once the escrow reaches a certain limit, a percentage of funds are then moved in to cold storage to reduce risk of anything happening on the hot wallet. Everything else is completely automated. There is admin interaction if the buyer creates a dispute, which then starts the escrow process.

The site has already been tested extensively

So the escrow is custodial? You, and you alone, hold the keys?

No, we have a small team

Yous, and yous alone :)

(from our point of view)

Well, yes, from our point of view a team may be even worse. May sound harsh, but ...

It may be unfair if you're honest, but it is prudent if you're not.

Hmm. A better way:

Hire someone to act as escrow, but not by having them be he site escrow.

You just send them 100 monero or whatever at the start, then the site owner acts as escrow like the site above.

When the site owner decides to shut down, the first escrow sends them the money back if there's been no scam.

Then the 100-escrow has a lot less workload, at most one angry person, and it's a lot more flexible.

But it does require the site owner to have a large upfront expense. Presumably higher than the total amount of monero in flight at any one time.

Something like a security deposit, that you loose if you do something wrong, and get back otherwise?

Yes.

That's a great succint way to put it, thanks :D

Sound interesting.

Maybe quite drastic for the site / platform owner, but maybe only apt in the light of the monumental uphill battle such a brand-new project faces to gain trust

The cryptocurency scene is so chock-full with scams, almost everybody will immediately suspect this to be just one more of those. Terrible, unjust, but that's the way it is.

How does that work again?

Maybe xmrxmr should set up shop somehwere in a nice building in Townforge :)

A deposit goes to your account, from which only two things can spend: your keys or consensus rules.

Did we already shoo them away with our critical but polite and in-good-faith questions?

Looks like it. 16 minutes ago.

Does not bode well if true IMHO. They will face considerable headwind with this if they manage to address the broader public, just naturally. Probably needs a quite thick skin in any case.

So they got their r/Monero post released about 3 hours ago: old.reddit.com/r/Monero/comments/wc…ebsite_released_similar_to_ebay_but

Basically only a link, no explaining text

Oh, text has been added, that's a start.

No, different post, but same topic.

urx

Oops. Sorry about that.

i did port forward on my router port 18081 butxmrig cant connect from outside ./xmrig -o myip:18081--hugepage-size=3072 .....

everyone  vacations?