It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.
I agree, there has to be someone liable and responsible behind every platform so that end users can trust it. 
Topic: Do we need a global virtual marketplace for cryptocurrencies? - page 2. (Read 397 times)
November 28, 2018, 04:04:21 PM
November 28, 2018, 04:00:02 PM
It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.
Agree here. And the question also is, if ever there will be, will it not create doubts in the part of the traders if the platform is totally free and decentralized? If some problem occur, misunderstanding or even a very slight mistake happens, it will be like groping into the dark and one must be ready to say goodbye to his good. 
I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?
The question itself is self contradictory. Global marketplace and decentralization doesn't really go along. There has to be a platform which needs to be run by an authority to maintain the daily operations. Otherwise, it will become the heaven for scammers!
We already have a lot of exchanges in the market where the fees are quite low which won't pinch your pocket! Also we have platforms like localbitcoins and paxful for crypto to fiat transactions. These are not decentralized but does the required job smoothly!
I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?
You are saying there will be no intermediaries, but the marketplace itself will most likely be this third party that will also get some revenue out of it. It's a bit hard to understand what you mean here. Are you talking about a global exchange of some sort that will be decentralized? Well, there are some projects of decentralized exchanges, but I am not sure how they work and whether they make sense. The most decentralized thing to do is to send cryptos to others and receive some cryptos from them directly through blockchains. However, this requires knowing those people and probably the usage of wallet companies which kind of are intermediaries already. I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?
in my opinion, what is needed now is a marketplace that has a place in the real world. This of course can change the crypto point of view. Maybe the marketplace will be like an ATM machine, making it easier for us to access when we need it. Current transaction costs will be difficult to avoid from low-cost to free because after all there are parties who need costs as maintenance of the system
There had been lots of attempt to create a marketplace, some even did an ICO for this project. None of them were successful as of now due to the fact that both parties can scam each.
Like OpenBazaar? It already exists, but it hasn't gotten any significant attention from the merchants that's why there literally is no volume whatsoever for their platform. Also, trust is still an important factor that people look at when buying things online, that's why they want to ensure that someone can be held liable if their purchases turned out to be bad or not matching their expectations, otherwise they will look for other places to spend their money.
If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.
If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.
Nothing serious happening about openbazaar, I did create an account on it 2 years ago It looks very new up to now. I can't even find a merchant near my area.
Like OpenBazaar? It already exists, but it hasn't gotten any significant attention from the merchants that's why there literally is no volume whatsoever for their platform. Also, trust is still an important factor that people look at when buying things online, that's why they want to ensure that someone can be held liable if their purchases turned out to be bad or not matching their expectations, otherwise they will look for other places to spend their money.
If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.
If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.
It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.
I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?
The term decentralization in goods and services means that these goods and shops are not confined to a specific area or subject to certain laws as is happening now "many countries are subject to economic sanctions for illogical reasons."Markets cannot be decentralized without supervision or subject to authority to settle disputes, but funds can be paid without the need for a credible third party.
cryptocurrencies can open up new markets "in Africa " for cheap products and give people financial freedom. But when we talk about trade exchanges, these currencies are not important because regulatory forces are needed before that.
In short, cryptos will benefit from exploring new markets but will not help eliminate the problem of trust.
You mean a marketplace for goods?
I mean, a decentralised marketplace has been something that a lot of people have been looking at recently, but honestly, I still don't think that this type of marketplace will necessarily be able to be practically implemented in the near future.
In one way or another, intermediaries are still needed at this stage to resolve conflicts between counterparties. What if goods and services don't get delivered? That's why right now I think decentralisastion of the monetary supply makes more sense than decentralising the process of purchasing goods, at least in practical terms.
Decentralised exchanges are also possible, but then again, not a lot of volume is being generated on these platforms right now as there isn't really any cross-currency transactions available.
I mean, a decentralised marketplace has been something that a lot of people have been looking at recently, but honestly, I still don't think that this type of marketplace will necessarily be able to be practically implemented in the near future.
In one way or another, intermediaries are still needed at this stage to resolve conflicts between counterparties. What if goods and services don't get delivered? That's why right now I think decentralisastion of the monetary supply makes more sense than decentralising the process of purchasing goods, at least in practical terms.
Decentralised exchanges are also possible, but then again, not a lot of volume is being generated on these platforms right now as there isn't really any cross-currency transactions available.
I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?
Jump to: