[denied] Stop Community Repayment Fund.

Unappreciated funding.

Too much potential for abuse and with the “pardon” system allowing for ban evaders / previous scammers to come back it really puts a toll on not only then abusing it by “getting scammed” but also leads to more victims or “victims”.

There is a lot that goes into this thought and if you really think about it doing away with it has a lot of potential.

-Actually reading the sticky notes.
-More incentive in DYOR.
-Site funded events for CDT (If the pardon system stays in place and someone repays their debts to the site.)
-**Someone might actually be cautious while trading.

A lot of you are going to say “don’t support” at first but again, really think of the potential that comes from this.

I love all 6 of you. Have a good weekend.

 

Oh yea, and I’m really tired of just seeing people say it’s unfair. Lol

 

Am I missing something here?

The community repayment fund gets paid out like 1-2x a year and has a lifetime (per-user) limit of $300. What kind of abuse are you specifically referring to? People colluding to set up a "fake scam" so they can get repaid $300 half a year later?

People who get banned for scamming typically have to send money to the repayment fund (if they aren't paying people back directly / said people can't be tracked down), so what exactly are aforementioned banned users abusing?

Community repayment fund is probably one of the last redeeming things of this website in 2023 and a major selling point for noobs to enter the market or start using the site at all.

 

Noobs avoiding good trading practices and DYOR just because they can get repaid is the weakest point that could’ve been made.

 

You can do everything correctly and still get exit scammed by a random high level donator on Sythe.

 

I support this because as @j2s said this is the only redeeming quality. We need to get rid of that quality

 

No lol

 

@MAGZ

I'm biased because I put a lot of work into helping formalize and make transparent the process of community repayment, but I think this is a stupid suggestion. We've paid back tens of thousands of dollars, mostly to users who did their research and still got scammed (note that most types of scams that are due to user carelessness are ineligible for repayment). Community repayment has also collected funds from generous donors and encouraged the repayment of old scams that would otherwise have gone unresolved. @Joopii repaying $23,000 (see here) is evidence of this, and community repayment has collected other significant, albeit smaller, debts in part because the funds go to a better cause than lining scammers' pockets.

But you raise a fair point that some of this money has gone to those who didn't deserve it. Here's a list of repayment recipients from a year ago, sufficiently old that people who intended to scam again after collecting repayment funds would likely have already done so: Repayment recipients. What percentage of them are now banned/DNT'd? What percentage remain in good standing? That stat would help this conversation along.

 

System is alredy abused from the top end of Admins down to community repayment fund and so on so dear my friend just Let it be

 

The only unfair points I believe the community repayment fund brings are the lack of repayment rolls and the bare amount of energy that goes into actively seeking contact with the original scam victims.

Nowadays I don’t mind that some (now banned/DNT’ed users) made use of the system. If we can’t be fair to them then how can we expect them to be fair with us?

 

If anything I think it should be expanded with more effort being put into paying out scammed people and also maybe making scammers pay a little extra to get back in.

EDIT:

The more people get refunded the more Sythe legitimizes itself as a proper arbitrator between these kinds of disputes. Funds for that need to come from somewhere though which is why I think scammers should have to pay like 5-10% extra into the community repayment fund.

 

No support for this one for multiple reasons already mentioned above. Repayment is a good thing which some ppl need it though.

 

I was reading the opening post a while ago, and i'm a bit on the fence seeing both sides of it.

There are both pros and cons which makes it hard to vote for or against. On one hand we have this amazing ability to be able to at least give decent (well some decent*) people money they had stolen from them back, on the other hand it also causes further damage as they themselves can ultimately scam afterwards, or something similar along those lines.

It's a problem we will always face regardless. Either they want something or they don't, and ultimately it isn't in our control as much as we want it to be. Think of it as like the government, we vote for said person based on what they propose or how we feel they could act on something, if that person doesn't live up to the standard we expected from them in said situation relating to this website scamming instead we are then back to square one.

This then makes people feel they are not being handled correctly, rightfully so as they have been wronged. I get there are also people who are extremely inactive and then they come in and are just like yeah community refund bye after sort of thing. Do you think maybe this is something that could be looked into or suggested should I say* @MAGZ ? Maybe a time/activity requirement further more.

 

Updated list as of December 18, 2021:

26 out of 211 are banned or DNT

 

great idea

 

I don't support, being someone that was scammed before on here from someone that was a member of sythe for many years and they had a lot to lose by doing so and it made no logical sense for them to scam me, the refund from the repayment fund really helped heal the wound. I understand your point that it can be abused, and maybe we can warrant situations where only certain types of users are eligible to be refunded from in the event of a scam (ex ___ many years on sythe) etc.

In events to where you have to trust users, you can factor in the $300 repayment cap as well as sort of a insurance. So I think overall it's a very good system.

edit: if anything we should increase the cap. Especially when users are high $ donated etc.

 

I'm the person who created the community payment thread, and I disagree entirely with this.
It was first created because I got tired of people pardoning and being like "I can pay back the victim" and the victim also being a scammer.. and then the person they scammed not ever coming back on the site.. so pardons would take weeks, sometimes even months to process because "we're waiting on x to reply back to us."

This new system allows people to go through the pardon system, and everyone deserves a second chance, but that mark should forever be on their account, which it is. Disagree, no support.

 

Thanks for doing the math. I think this is good evidence that this is not a very important issue.

 

what happens to the funds and future funds then