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What’s the deal with not leaving feedback?

Maybe this has been answered and I simply overlooked it but when is an appropriate time to leave negative feedback? When someone says they'll purchase an item and then ghosts you? Or when someone fails to meet at the agreed time with the agreed to funds?
 
I Just discuss it / remind them at the meet.
After a successful transaction I always say:
“I will make sure and leave you some good feedback later”

A lot of new people don’t realize how important it is.

I did my first 3-4 transactions before I even knew what “feedback” was.

I Found out when a guy said he didn’t want to do business with someone with a new guy zero feedback. I showed him the screen shots of the ODT messages of 3-4 successful transactions and we continued.
 
I always leave them feedback if they hold up their end.and appreciate if they do the same.i have enough now you can pretty much judge I’m gonna hold up my end.
 
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