CAD-BTC-Ex-comments: Difference between revisions
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This is for comments on djex's draft of a [http://j.mp/BTC-CAD-ex Proposed Canadian Bitcoin Market Transaction Process Using Interac e-Transfer] | This is for comments on djex's draft of a [http://j.mp/BTC-CAD-ex Proposed Canadian Bitcoin Market Transaction Process Using Interac e-Transfer] | ||
'''May 19, 2011''' - Updated document with a possible buyer / seller rating system. I believe this system could promote faster transactions. Please have a look. -djex | |||
* ''Bimmerhead suggested that if the buyer sends less than the total amount (say $15 out of $25), it might be a good option to let the seller cancel the whole transaction rather than automatically allow partial fulfillment.Just because the seller may have wanted an 'all or nothing' sale.'' (May 17, 2011)'' | * ''Bimmerhead suggested that if the buyer sends less than the total amount (say $15 out of $25), it might be a good option to let the seller cancel the whole transaction rather than automatically allow partial fulfillment.Just because the seller may have wanted an 'all or nothing' sale.'' (May 17, 2011)'' | ||
Revision as of 00:45, 20 May 2011
This is for comments on djex's draft of a Proposed Canadian Bitcoin Market Transaction Process Using Interac e-Transfer
May 19, 2011 - Updated document with a possible buyer / seller rating system. I believe this system could promote faster transactions. Please have a look. -djex
- Bimmerhead suggested that if the buyer sends less than the total amount (say $15 out of $25), it might be a good option to let the seller cancel the whole transaction rather than automatically allow partial fulfillment.Just because the seller may have wanted an 'all or nothing' sale. (May 17, 2011)
- Added in a possible solution for this. Check the document for latest change. -djex
- Re: "If Seller never confirms payment". This is the crucial scenario, I think, because 1) the seller has no incentive (he already has his money) and 2) The faster the market clears transactions, the more people will want to use it. Buyers will get frustrated if the 'wait time' is too long. I'd give a transactions a ResponseTime field (slow, med, fast, veryfast). Once the email is sent, the seller is expected to respond within a pre-defined timeframe (24hrs, 12hrs, 2hrs, 30min). This might work for other scenarios where a response from the buyer/seller is required -PlasticLiving
- I updated the document with a few changes regarding this. Still not 100% sure on the Response Time field. Is the buyer setting this field? -djex
- Maybe 2 order books? A 'fast' one for the day traders (liquidity being crucial) and a 'slow' one for others? -PlasticLiving