Topic: [2014-06-22] CD: How OpenBazaar is Using Bitcoin to Build a Decentralised eBay (Read 1150 times)
June 25, 2014, 04:10:10 PM
it's nice and easy to expect things to run for free, but that's not how human nature works. if someone's willing to invest in a technology, then they are expecting to make returns if it is successful. relying on donations just doesn't work - just look at wikipedia and how they are struggling to get by.
June 24, 2014, 11:22:07 AM
We need more of these type of things.... decentralize EVERYTHING!
June 24, 2014, 02:54:57 AM
This sounds awesome! Does anyone know if there will be some sort of escrow-like function to protect against fraud?
Well from the article:
Quote
Instilling user trust
On a more immediate level, OpenBazaar can help those who are using questionable markets to trade goods and services avoid instances of fraud or theft.
Hoffman explained:
“Right now, there’s a lot of people using these closed dark markets that have been built with a lot of risk for the user, with escrow, [and questions of] where the site holds it. So, our benefit is that’s its completely different – the trust will be in the hands of the user.”
On a more immediate level, OpenBazaar can help those who are using questionable markets to trade goods and services avoid instances of fraud or theft.
Hoffman explained:
“Right now, there’s a lot of people using these closed dark markets that have been built with a lot of risk for the user, with escrow, [and questions of] where the site holds it. So, our benefit is that’s its completely different – the trust will be in the hands of the user.”
To me that sounds like no escrow. Anyone read that differently? "... the trust will be in the hands of the user." Kind of sounds like "buyer beware" to me. Not sure whose benefit that is. *shrug*
Still, seems like a good idea to me.
June 23, 2014, 02:22:52 PM
This sounds awesome! Does anyone know if there will be some sort of escrow-like function to protect against fraud?
June 23, 2014, 04:48:49 AM
I'm sure people would donate once it got going and was working great. People would probably donate via some sort of kickstarter too.
June 22, 2014, 12:00:55 PM
I disagree. I think there would be lots of people who would donate. Look at all the donations things like Wikipedia and Wikileaks and Ubuntu gets etc.
Donating to some established venture like Wikileaks is different from donating coins to new and untested ventures such as OpenBazaar. And any idea how many coins Wikileaks is getting right now? The donations have trickled down in the recent months.
June 22, 2014, 10:56:38 AM
They could run on donations, or maybe minimal fees then.
No one will donate. That is the problem. The question is actually how much could be the minimal fees. Everyone would agree that the 15% charged by Ebay is a little bit too much. But exactly how much OpenBazaar should charge its vendors?
I disagree. I think there would be lots of people who would donate. Look at all the donations things like Wikipedia and Wikileaks and Ubuntu gets etc.
I'm not familiar with Twister.
Decentralised Twitter basically - http://twister.net.co/ instead of sending money between points through the mining system, it sends messages and stuff, I suspect Open Bazaar will be the same except instead it sends the kind of information ebay requires but through the same system so the mining will confirm a person buying or selling an item.
Thanks. I'll check it out.
June 22, 2014, 10:03:56 AM
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
They could run on donations, or maybe minimal fees then.
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
It will probably work like Twister, where they use the Bitcoin protocol and mining to maintain it I suspect, that's the only way I could think of this working otherwise.
I'm not familiar with Twister.
Decentralised Twitter basically - http://twister.net.co/ instead of sending money between points through the mining system, it sends messages and stuff, I suspect Open Bazaar will be the same except instead it sends the kind of information ebay requires but through the same system so the mining will confirm a person buying or selling an item.
June 22, 2014, 09:53:28 AM
They could run on donations, or maybe minimal fees then.
No one will donate. That is the problem. The question is actually how much could be the minimal fees. Everyone would agree that the 15% charged by Ebay is a little bit too much. But exactly how much OpenBazaar should charge its vendors?
June 22, 2014, 09:01:58 AM
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
They could run on donations, or maybe minimal fees then.
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
It will probably work like Twister, where they use the Bitcoin protocol and mining to maintain it I suspect, that's the only way I could think of this working otherwise.
I'm not familiar with Twister.
June 22, 2014, 08:23:54 AM
It will probably work like Twister, where they use the Bitcoin protocol and mining to maintain it I suspect, that's the only way I could think of this working otherwise.
Bitcoin mining is definitely not going to bring in any profits, even with free electricity. Right now the total hash rate has exceeded 130 PH/s. If they want to create a well maintained trading site, then they'll have to charge small fees from the users.
June 22, 2014, 07:48:05 AM
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
It will probably work like Twister, where they use the Bitcoin protocol and mining to maintain it I suspect, that's the only way I could think of this working otherwise.
June 22, 2014, 07:42:29 AM
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
If there are no fees, then who will pay for the server costs and maintenance? Most of the buyers won't mind paying a 2% or 3% fees. Remember that Ebay is charging fees up to 15%.
June 22, 2014, 07:32:18 AM
That sounds awesome! I'd like to sell my stuff on there for sure!
June 22, 2014, 06:13:52 AM
It's not really. It needs to be more decentralized with no or minimal fees going to the silk road and no bonds etc. I'm sure a fully decentralized one will take the market soon.
June 22, 2014, 05:59:13 AM
Maybe it'll be a decentralized Silk Road? I think for this type of darknets to survive they're going to have to be decentralised. They just get hacked or taken down eventually.
lol... the Silk Road 2.0 is already decentralized. They took down the escrow in favor of multisig wallets. But this one is going to be different from SR 2.0. There won't be any drugs and everything will be 100% legal.
June 22, 2014, 05:56:32 AM
Maybe it'll be a decentralized Silk Road? I think for this type of darknets to survive they're going to have to be decentralised. They just get hacked or taken down eventually.
June 22, 2014, 05:47:46 AM
A decentralised ebay? I thought this was going to be another Silk Road type thing?
June 22, 2014, 02:00:39 AM
http://www.coindesk.com/openbazaar-bitcoin-build-decentralised-ebay
Quote
OpenBazaar is set to take the stage at this weekend’s Bitcoin in the Beltway conference, a Washington, DC-based event that will bring together digital currency leaders and thinkers including Charlie Shrem and Vitalik Buterin. There, project maintainer Brian Hoffman will lead a discussion on the much-hyped decentralized market project.
Jump to: