Sythe Insured rank

Now this is an extremely long ball out in left field kind of idea, mainly because I already know that keeping something like this going regularly would take a lot of work from the staff. However, I think it would honestly reduce the amount of scamming going on around here by over 50%, if not more.

The "Sythe Insured" rank.

In a nut shell, the Sythe Insured rank would work much like the donation rank. You would have a little image on each side, with the amount of money that person has paid to be insured on Sythe. So for example, I could pay to get a $50 insured rank.

This money would be added to a completely separate account than whatever account staff currently uses for their donations. Now, whats the point? Simple.. Not only does a larger amount of insured rankings help build trust (much like the donor ranks) but they give members an idea of how much this person has invested and is willing to lose.

Again, for example... If I had the $50 insured rank you probably shouldn't trust me to make a trade with you worth $500 or more without a middle man or other forms of security.

This is where the other account comes in that actually has the money stored in it from insured members. Say I scam someone for $35 when I have the $50 insured rank. If that person can prove I scammed him, and I am legit banned staff can then go into the insured cash pile and pull the $35 from the $50 insured myself with and replace the money stolen, also making a $15 profit for themselves in the process. Or, it would work off of a %. Meaning if the user was insured Sythe can help replace 50% of the lost cost, and keep the rest that user paid to get the rank for themselves. Either way Sythe would only make more money, while giving users another way to build trust.

This system would obviously need looked over closly, probably a lot more tweaking than what I have listed here, and YES I know it would take an enormous amount of work to pull off from staff. But in the long run, it would be a really great system.

The reason this works is because why would someone pay $50 to scam someone for less (as long as members don't make poor decisions and trust them with WAY more than they are insured for) just to be banned and actually lose more money than they gained?
Thoughts?

 

I only see this being feasible with cryptocurrency. It would be a pain to manage though.

 

What about if a user wanted to retrieve his insurance money back? Or is it held permanently by staff? If so, what's to stop someone from 'insuring' themselves for $50, scamming $50 and then retrieving their insurance back prior to a claim? Seems like another falsification of trust in my opinion. Trust is a subjective matter and should be dealt with accordingly. If you don't trust the user you're trading with, use a MM.. Simple. Let's not make trading more difficult by adding these ranks which will in turn only prove negative for new users who don't understand ranks and so on.

 

Would the "deposit" given for the mini rank be refundable? Because, if not or at least, half should be refundable because if the user decides to not use sythe anymore whats to say they don't scam

 

Matthew isn't active enough to do it, so Richard would have to trust someone else.

 

I was writing a long paragraph about this but I'ma just tl;dr it.


Rank wont work, there shouldnt be ANOTHER RANK that increases trust because u have $50, thats exactly whats so damn wrong with SVU.


Fact remains is that people are still going to buy it to scam.


Instead of someone buying $25 donor & svu then selling $500 worth of accounts, they'll buy this insurance, be "trusted" then instead of $500 scam $1000 so its just another buy for trust rank for scammers to use.


Also, $50 is nothing tbh, that's not a brag but I know users on here that could walk with $10k a day and its not going to matter if their insured $5 or $500 lolz & honestly with the level of trust these users have, the only people who would buy this rank would be the scammers for trust or lower traders.

I'm not against this dont get me wrong, But I view it was extremely pointless.

 

Since your donations aren't refunded neither would these.
$50 would not be the base price, just an example, you can do it up to $1000+ just like donations if you wanted to.
The reason this is different than SVU is because;
1. It clearly shows you how much a member has invested in being trusted.
2. It doesn't give off the idea that this person can be trusted because they are "verified"
3. It shows users that if for some reason they were scammed, they have a chance to get some of their lost cash back. (that would be subjected to how the staff wanted to handle it.)

Either way, I think this is much better than SVU. That rank needs to just disappear. I agree that no amount of ranks are going to allow you to trust someone if you just plain choose not to. It's the comfort of this rank that would help, and keep people from paying $25 to scam $100 and making profit. This rank could take out the use of a middleman unless the value of the trade was greater than their insured rank. Just some food for thought. Again, it would need tweaks.

 

And who's going to deal with refunds hmm?


What's sythe going to do take $1,000 paypal from users for an "insured" rank and hope they dont dispute after they scam(which will likely happen)



Matthew is to busy, sythe and govind run the site BTS, this seems like a absolutely crap ton of work on the higher ups.


Also please dont say globals, if you think its realistic sythe would give them access to mass thousands to issue refunds theres like no way lol.

 

I agree 100% lol. Like I said, this would take an ENORMOUS amount of work from staff, but if they personally think its something they could handle then I figured I would still put it out there.

 

Stigmatizing trust that's accessible through monetary means doesn't solve any issues because scammers can just buy in easily. Putting a barrier between being perceived as trusted will reduce merchant user count and create a less diverse market on Sythe.

No support

 

I agree with Bus, I see the whole problem of SVU stemming from the fact that it's a rank and ranks are so easily misconstrued as denoting trust. While I see the benefits in having a system that can actually alleviate scams when they do happen, I honestly think we are better off just getting rid of SVU entirely and not complicating things further by introducing another rank.

 

Because of issues like what bus mentioned, cryptocurrency would have to be the only way to go about taking these payments. The value fluctuates too much that I can't see it being reliable to hold onto long-term. On top of a whole host of other issues, I just can't see this being feasible for Sythe to dedicate the large manpower needed to keep a program like this running. No support

 

There wouldn't be a valid/legitimate way to regulate this, this would be a major update that I just don't see as a possibility right now - let's work on revamping "SVU" before we move towards a whole new system