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I cook a delicious onion stew, without any chilli peppers.

Markets are Obsolete

I made post on Dread (mirror) about how markets are obselete. I will crosspost it here...

In the days of Silk Road 1, we just had Bitcoin, and the way the site worked with its wallets and such was revolutionary. To this day every market that matters emulates it, and these markets do well for themselves. Yet today is 2020 and we have Monero, and I find it makes markets obsolete and it to be the time for vendor stores.

Bitcoin has a single keypair for use of controlling who spends it. However Monero, its privacy aside has two keypairs, and master addresses with subaddresses. It has a 'viewkey' and a 'spendkey' and this separation makes hot wallets redundant. A vendor store can merely have a viewkey to verify payments for specific subaddresses, and use the information to process an order.

However such a vendor store would not involve escrow. However a market could use these features and expect a deposit to exist to be used as a vendor bond. Such a bond would be returned to a vendor who has honored their customers. As such markets as we know them are a thing of the past. There are many vendors with an established reputation that would do well even without escrow.

I have been offering my 'ViewPVS' Monero/WooCommerce solution using viewkeys for some time. I am working on more software and my own vendor store that is three to six months away, that will be exclusive to /d/kloshost customers. I welcome competition and anyone who embraces what Monero potentializes in the world.

In the end if we embrace innovation we get safer and broader markets, without exit scams, and happier customers.

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