Wed, May 18 – Important News for Buyers and Sellers
As you probably know, Stage 1 of the Digital Delivery (DD) project launched a few days ago. With thousands of users testing the new features, a number of issues have been raised that we will address in this blog post. We’ll break this down into two messages—one for Buyers, and one for Sellers. (Important: We are actively terminating accounts of some Sellers. If you’re a Seller this is a must read!)
For Buyers…
The DD project is the first step toward creating real value for the VirtaPay currency. A wonderful example of this is a Seller who listed his original music for sale through VirtaPay. The item is titled “Spirit- Fusion Music” and it has climbed into the “Established Items” category because it has earned good ratings from Buyers. (Don’t forget to rate your purchases).
Naturally, some Sellers don’t seem to understand what is valuable to our Buyers—or they try to “game” the system with fake ratings. We are actively working to eliminate these Sellers and what they offer.
Caveat emptor. This is a very old latin phrase meaning “let the buyer beware”. It applies to our Buyers. Any item you purchase with your VirtaPay balance is not sold by, nor guaranteed by VirtaPay. It is sold by an individual Seller. If you don’t trust a Seller, don’t buy the item. There is no mechanism for refunds at this time. Someday that may change, but for now, your only recourse on a purchase “gone bad” is to give a poor rating or flag the item.
“Money exchanges” prohibited. There have been a large number of item listings offering to “exchange” VirtaPay dollars for PayPal, AlertPay, etc. We have had nothing but complaints about these items, so they have made it onto the Prohibited Items List. If you pay one of these Sellers, we expect that in 99%+ of the cases you will simply lose your VirtaPay dollars.
Again, building value for our Buyers and our fledgling virtual currency is our primary goal right now. Items such as “money exchanges”, donation requests, begging, and so on, provide no value to our Buyers and so, are prohibited.
For Sellers…
If you didn’t read the above section for Buyers, go back and read it. As stated above, we are working on creating real value for the VirtaPay currency. A few Sellers have already figured out how to offer real value. Those Sellers are rewarded by Buyers with high ratings and their sales naturally grow.
We will soon begin explaining how Sellers can earn “regular money” with VirtaPay long before the VirtaPay currency becomes openly exchangeable. Some Sellers (the ones doing it right) may have already figured it out. They can provide a model of successful behavior for the rest of the Sellers.
As mentioned above, the following items are prohibited:
For Buyers…
The DD project is the first step toward creating real value for the VirtaPay currency. A wonderful example of this is a Seller who listed his original music for sale through VirtaPay. The item is titled “Spirit- Fusion Music” and it has climbed into the “Established Items” category because it has earned good ratings from Buyers. (Don’t forget to rate your purchases).
Naturally, some Sellers don’t seem to understand what is valuable to our Buyers—or they try to “game” the system with fake ratings. We are actively working to eliminate these Sellers and what they offer.
Caveat emptor. This is a very old latin phrase meaning “let the buyer beware”. It applies to our Buyers. Any item you purchase with your VirtaPay balance is not sold by, nor guaranteed by VirtaPay. It is sold by an individual Seller. If you don’t trust a Seller, don’t buy the item. There is no mechanism for refunds at this time. Someday that may change, but for now, your only recourse on a purchase “gone bad” is to give a poor rating or flag the item.
“Money exchanges” prohibited. There have been a large number of item listings offering to “exchange” VirtaPay dollars for PayPal, AlertPay, etc. We have had nothing but complaints about these items, so they have made it onto the Prohibited Items List. If you pay one of these Sellers, we expect that in 99%+ of the cases you will simply lose your VirtaPay dollars.
Again, building value for our Buyers and our fledgling virtual currency is our primary goal right now. Items such as “money exchanges”, donation requests, begging, and so on, provide no value to our Buyers and so, are prohibited.
For Sellers…
If you didn’t read the above section for Buyers, go back and read it. As stated above, we are working on creating real value for the VirtaPay currency. A few Sellers have already figured out how to offer real value. Those Sellers are rewarded by Buyers with high ratings and their sales naturally grow.
We will soon begin explaining how Sellers can earn “regular money” with VirtaPay long before the VirtaPay currency becomes openly exchangeable. Some Sellers (the ones doing it right) may have already figured it out. They can provide a model of successful behavior for the rest of the Sellers.
As mentioned above, the following items are prohibited:
- “Money exchanges” (or promotion of same)
- Donation requests or begging.
- If you don’t have the legal right to sell an item don’t list it! Here are a few cases where you would have the legal right to sell:
- if an item is original and created by you
- if the item is in the public domain
- if you purchased resell rights from the content owner
- If the item is a physical item don’t list it! (All items must be digitally-delivered).
- If you find the item listed on the Prohibited Items List don’t list it!
- Also, we suggest that if the item offers no real value to our Buyers—you guessed it—don’t list it!
