In fact most orders on Bitmit are not auctions but buy now.
If auctions can be destroyed by simply creating a new account and bidding with no money in the pocket, it's not that much fun to both offer and bid on an auction. Please review your 20% no-pay if it is worse on auction style as no-pay hurts 100 times more there than on buy now style where the seller has plenty on stock and the sale does not disappear just because some a**** clicked buy just for fun.
Pre-payment sounds like a good solution for the problem but I think this will scary many potential buyers away because some people are purchasing the btc for large orders after they won the order.
Absolutely agree with this from the buyer side but please take into account the damage done to your active users, especially to those that – like me – prefer auction style for getting rid of stuff they don't want to put a price lable on.
I've got the following proposal:
- Setting to require sms verification for potential buyers
I have 4 throw away numbers, others prefer not to give you their number. In order to bid, make them either provide a phone number or charge the account with BTC and please make auction style with payment mandatory for users with less than 1 successful purchase. It sux soo big when an auction comes to an end after a bid war with 5 people involved that all invested time, sweat and tears when the winner doesn't collect his purchase.
I could imagine much stricter rules that would prevent 5 times buyers of some voucher items to bid on houses and other expensive stuff cause how can I auction off a house on bitmit with every interested party being able to destroy the auction with a throw away account?
We also got some users on Bitmit who are hearing BTC for the first time and simply buy products but cannot pay -> We need to make it more clear on the checkout process that the only available payment method is Bitcoin
Therefore, contain those first timers on sales where they don't make offers disappear for the time it takes to learn about bitcoin. Always look at the two sides of the decision. Sure, those noobs might refrain from hitting buy and never come back but half of them might never buy a single item and the other half might not compensate for the frustrated customers of you that simply leave because you unleashed a horde of idiots on their customer support capacities.