Monero guys are working on openbaazar

Hi EMIF thanks for the support.

First of all you had it correct except its in reverse. If Bob and Sally are total strangers with no trust, then Bob would deposit 1 and advance the amount 1(for the phone). Sally would only deposit 1 to avoid extorting from Bob.

So at first Bob is -2 Sally -1.

Then Sally sends the phone worth 1

So Sally is -2 Bob is -1

If Bob says he didnt get it he is still -1 and just paid double for the phone. If customs really provably had a problem, then Bob should contact Sally and explain. Its up to Bob and Sally to agree before the time runs out or they both lose. Of course insurance is recommended with international packages!

However, if customs took the item, then both Bob and Sally then would want to agree on an extension.

If Bob ever tries to steal the phone he is -1 and will pay for his deception.

If Sally really has no trust for Bob she can even make him pay more deposit before entering a contract. Trust levels is dependent on how new the parties are to the system and what Sally thinks. There is also a rating system so deposits can be lowered after good behavior.

The best part is, BitBay will handle everything automatically. So Sally does not need to worry about deposits. The "Templates" will set those amounts based on recommended levels. She can choose the edit the template and it would show as a "Custom contract"

There is also auctioning/counter-offer system in BitBay. So they can negotiate everything in advance and everyone can bid on prices!

BitBay with unbreakable smart contracts featuring David Zimbeck of the BitHalo and BlackHalo fame.
https://bt.irlbtc.com/view/890531.0

The most important thing is that the buyer nor the seller can be scammed. That's what BitBay is for. How does ShadowMarket guarantee that?

https://i.imgur.com/4fsaswc.png



Hello everybody,

It’s good to see you all so actively supporting Shadow and staying positive as we work towards the release of our decentralized market. As some of you may have noticed, we’ve been a bit quiet on these forums lately when it comes to actively reaching out to all of you with development updates. This doesn’t mean we’ve been sitting still though, because we have a fun week ahead of us. We'll come back to that later.

First of all we are very happy to announce that both Tecnovert and I will be working full-time on Shadow from now on! We're setting our main jobs aside for the upcoming months so that we can really focus on the job at hand. This will obviously result in quicker progress when it comes to releasing new features. Going forward we are also going to post a lot more in terms of development reports. Our team has been working with Shadow community members who are setting up a new website with a development blog to keep you all up to date. So expect regular updates from now on - this one being the first.

The weeks ahead of us are all about ShadowMarket so we are pleased to announce that we have started integrating it into Shadowcore’s back end. We're currently switching from scrypt to SHA-256 so that staking requires less cpu cycles, updating to PoS v2 to improve network stability and working on BIP32 and BIP44 support so that we can support hierarchical tree categories for the market. Once we are finished with these enhancements, things should start moving significantly faster. We will be making radical changes to the Secure Messaging (ShadowChat), to support Pub/Sub messages, so that people could subscribe to certain categories for the market, where we will then move towards our first round of public alpha/beta testing. We’ve noticed there are lots of questions about how ShadowMarket will work so we have begun gathering them and will answer them in an overview later this week. So much about the upcoming Shadowmarket for now.

We are all still waiting for Isidor Zeuner’s review of our ShadowSend anonymity system in comparison to other anonymous cryptocurrencies. It is still ongoing and we are currently writing more documentation, which is currently our weakest point. We’ve been in contact with Isidor and are trying to give him a helping hand where needed. Please note that it’s quite a task seeing as he will not only study our system but also compare it to the alternatives out there.

As said earlier, we have a fun week ahead of us. We will try to give more specific details on that later this week.

Thank you all for your support!