[DENIED] Sythe Currency

The primary purpose of a Sythe currency would be to reduce the amount of scamming that takes place. This system would be similar to that of sythe gold but users would have to deposit money into their accounts to receive currency.

Sythe Currency would be used primarily for trades throughout the site and the currency would be entirely centralised. Therefore, users who have been found to have scammed (decided on a case-by-case matter) would have their currency redistributed to the affected parties. Sythe's current payment processing system used for donations could also be used for this. Sythe Currency withdrawals would most likely have to be done manually. A processing fee could be charged when users withdraw their money from the system that would cover Sythe for instances where users refund their PayPal payments to buy currency and also give Sythe a healthy profit.

 

Pretty sure this has been suggested before and denied, probably on here as well.

I actually would think about supporting this, but I think Sythe himself has said no to this many many times. It honestly just creates more problems than it solves. If you want to trade safely, do so, don't rely on a credit system as a fallback for not following correct procedure.

The DO NOT SUGGEST list.

So in the end, NO SUPPORT due to reasons above

 

While what you suggested was good in theory, 95% of scams can already be prevented, just by not being incompetent.

If you use an OMM, you end up paying 5% of the transaction.

Don't like PayPal chargebacks? Don't accept PayPal. There are plenty of other payment methods you can convert PayPal into (for example, 07 gold).

And finally, don't trust users because of their donor rank/post count. Always use an OMM. This way, the only way you can get scammed is if the OMM double scams (which is unlikely).

 

First statement = true
Second statement regarding the OMM = only in a perfect world

OMM's are not available 24/7 unfortunately. If @4usq you know how to properly implement a system that causes zero issues, how would you? Before I even elaborate on reasons why you shouldn't, you should have a game plan for this:

1) Should there be a bond-holder that accepts OSRS for said Sythe currency? If so, I'd completely support this. Basically, what happens is, the same way a donator donates. Except, you have to think about how paypal risks chargebacks. That leaves us with only Crypto and OSRS for "Sythe Currency"

I know I just randomly wrote many notes but if anything doesn't make sense I'd be glad to clear it up

 

You can always wait for one to get online, you're never under any time limit when performing a trade, and a user who says "I need to sell this quickly" or "can't wait for an OMM to get online" are usually red flags anyways

 

Keep in mind how impatient 15-16 year old kids are, but from a very general standpoint . . . what's wrong with a Sythe Currency that works correctly?

 

Credit card chargebacks = nty, i think that is enough said tbh, plus what @John Devola said, makes it impossible for the site to be able to securely process transactions, no support sorry

 

Richard has said many times in the past we cannot take any types of deposits for legal reasons.

 

^