Topic: OpenBazaar a false start? (Read 177 times)
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Marketing has nothing to do with it. People will always find a way to buy things with BTC if there really was a need. The best example of this is the darknet markets. There is no marketing and yet the darknet marketplace is always active.
In OpenBazaar, what are the merchants selling over there? Items that can be bought with fiat in a regular online store. No need to waste your BTC for that, just use your credit card.
In OpenBazaar, what are the merchants selling over there? Items that can be bought with fiat in a regular online store. No need to waste your BTC for that, just use your credit card.
It's basically a combination of everything. In my opinion, the only thing that we can somewhat blame OpenBazaar for, is the lack of actual marketing. Seriously, there hasn't been anything pointing me at OpenBazaar aside from a few articles in the very early stage when they launched. How do you expect people, and especially the average crypto users that are only here to bank on this hype, to have their attention pointed at OpenBazaar? Marketing is a very important aspect for any service or platform looking to hit user adoption. This is something a potential competitor of OpenBazaar can do different, and maybe even manage to achieve that what OpenBazaar didn't managed to achieve....
Its not Open Bazaar's fault or anyone's fault. Its the deflationary nature of BTC thats the culprit. It makes BTC treated more like "digital gold" than a currency. So holders arent very willing to part with their BTC as easily as they part with their fiat.
That is exactly my position when I read about KFC implementing the use of bitcoin and accepting it for payment because people in the crypto world are only seeing bitcoin as a store of value and they would prefer to convert to fiat, meet their need than to pay directly with bitcoin because as humans you get the feeling that the you would have gained more if you had not spend this money on that pizza or that chicken and the rice or burger that KFC is offering. The same thing is applicable to open Bazar a nice business that wants to make things available for every one but the market is not yet ready for it.
I would not say its a failure rather I would say the majority of the market participants have their attention into somewhere else and at the time they are ready, the business will be one that we would come to recognise as an ingenious development.
Its not Open Bazaar's fault or anyone's fault. Its the deflationary nature of BTC thats the culprit. It makes BTC treated more like "digital gold" than a currency. So holders arent very willing to part with their BTC as easily as they part with their fiat.
Is OpenBazaar a failure or a success, because it has not seen any momentum for months. Yes, they made it a bit more
user-friendly, but it is still not a eBay or a Amazon. They also do not have any competition, so they can go with the flow.
We need more projects targeting the decentralized markets, because that will increase adoption. Does the high miners fees,
have a big influence on the success of these projects?
user-friendly, but it is still not a eBay or a Amazon. They also do not have any competition, so they can go with the flow.
We need more projects targeting the decentralized markets, because that will increase adoption. Does the high miners fees,
have a big influence on the success of these projects?
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