Topic: Ebay Stores Competitor using Bitcoin Payment (Read 2737 times)

Mokimarket.com is a penny auction site that accepts bitcoins!

I think "hedged escrow" is a much needed option for such websites to gain acceptance, with BTC fluctuating like it is right now. It would remove the sellers' risk of holding BTC for the duration of the transaction. I know of at least one bitcoin marketplace that already does this, quite successfully. One simple way to do this would be to sell the escrowed coins on mtgox, and buy back coins later when the funds are released.

Nice Work! Clearly there's going to be a few of us.
 

Let me introduce my project..



On http://en.bitmit.net you can

- Buy and sell items for bitcoin
- Couple your price to usd/eur
---> Auction: Bid in usd/eur (conversion to BTC on auction end) OR btc (seller decides)
---> Buy now: Couple btc price to usd/eur (mtgox vwap) OR use a fix btc value (seller decides)

More features:
- integrated escrow
- optional id verification (online banking, paypal, passport)
- rating system
- online wallet

Currently no fees

Hehe, that's a pretty big act to follow!

The thing is that the Ebay-Paypal Corporation has a huge network effect, so it made it impossible for competitors to catch them (even with a better, or cheaper system) or even compete over the past decade.

Anyway, thinking about it, while competing with Ebay is a property of this system, it is not the main goal, but rather I want to make it easy and fair for people to buy and sell their things with Bitcoin.
 

If Bitcoin is a better money, this should be more sucessful than Ebay. 

Watching.

Understood! It's not a hugely original idea - but I'll have something to show pretty soon, and I think you'll see this is the first time it has been done properly!

It's all about the execution with these kinds of things.

gr8 idea, but their are many sites that offer this service

check out the complete list
http://www.thebitcoinreview.com/sites.php?catid=4&subcatid=26

make a better implementation and corner the market!

i support this esp if it has a rating system, im willing to help where i can

freetrade, I'm with you on this.  Bitcoin miner since 2010. We definitely need another auction/trading site accepting bitcoin.  I've bought & sold on eBay since '98 - familiar with most of the horror stories.  As for BiddingPond, I really wanted it to work but it appears near dead, and my one negative experience there (scammed by a 0 feedback seller) leaves a bad aftertaste.

How about a site that accepts payment in anything EXCEPT Paypal?
 

I think there are some sites that will already place an order for you on Amazon if you send them the BTC for your order.

This idea has a different emphasis - It's difficult for new users to acquire bitcoin.  This idea is about making it easy for people to sell their old items, thus gaining some BTC.

There might has another way/system which could let us buy any goods from any online stores (Amazon, ebay.. etc.) by Bitcoin, provided these stores allowed co-/bot-IDs? (This could be a first big problem..)

There are already lots of bitcoin auction sites...

I've posted in another thread, but probably better to keep any discussion of this idea in its own thread. Sorry for the dupe but - Here's a reminder


This is quite right!
I think there's a good opportunity for a eBay competitor but it needs to have the right features in order gain momentum.

1. Listings in USD as explained above
2. No auctions to begin with - just Buy It Now Prices (more like eBay Stores)
3. Closely tied to a reputation system (Maybe the OTC rating system)
4. Immediate option to clear to bank account for merchants (Using AutoMtGox or similar)
5. No (or very, very minimal to discourage spam) listing fees (maybe none to start with)

I think this kind of site is an important strategic resource for the BTC community - we all have an interest in something like this becoming successful. For two reasons -

1. The Ebay-Paypal company has close to a monopoly and will never accept payments in BTC because it is an existential threat to Paypal.
2. Selling some old books, cds, dvds or junk in your garage is a great way for new users to get some BTC and start participating. It can also be largely anonymous for them which might be important depending on how they want to spend their BTC.

The main problem to overcome is the chicken-egg problem. You'll see most of the existing sites don't have many listings because they don't have many customers, and don't have many customers because they don't have many listings.

I have some good ideas for overcoming the chicken-egg problem, and I'm interested in talking to interested parties and partners with a view to launching such a competitor. I'm a developer with time and capital, ideal partners therefore are people who understand the potential of BTC and

1. Existing eBay merchants with large inventories in existing databases
2. Existing auction site owners (especially BTC the accepting ones above)
3. Persons experienced in SEO / Web Marketing
4. People with a strategic interest in Bitcoin (large holders, miners, business owners)

However I'll talk to anyone who thinks they have something to bring to the party.