....
You guys must run a very lean company to be able to survive on such little fees!
Or how about somebody who has been screwed by Paypal and refuses to work with them on ethical principles?
This sounds like you're describing me. I've had so many problems with Paypal, people reversing payment on me after sending them very expensive products, and Paypal does nothing about it. On my most recent business they just decided they didn't want to be associated with it even though it was perfectly legal and closed my account down and locked my funds for months.
Exactly.. a decentralized policy is a paradaigm shift over central policy makers. Ive had similar issues. Depends on which way wind blows.
This kind of stuff is exactly what makes me excited for the future. Decentralized platforms are going to be for the good of all, instead of prioritizing benefiting the few people that managed to come up with the idea first.
Pretty much everyone who uses Paypal to receive payment has been on the wrong end of a support ruling there - they treat buyers better than sellers, because they know sellers have no choice to suck it up. Furthermore, Paypal is owned by Ebay, making Ebay/Paypal a giant monopoly with very little real competition. The exorbitant Ebay/PP fees get pulled directly, right out of the vendors account, "no payment necessary" (and vendors had no choice but to suck up these new payment terms or get banned). They're getting to be almost as bad as Comcast in the customer service department as well. Often these characteristics (monopoly, poor service, high fees) are perfect indicators of a dinosaur corporation that needs to suddenly become extinct. There is a long way to technical mastery of running a market decentrally, and consumer adoption will certainly take time. But looking at the Blockmarket product offerings, I'd say it's not THAT far away.
Of course there will also be problems in decentralized markets, with scamming vendors and/or frozen escrows. However it appears that these problems are mitigated by reputation systems and the occasional iron fisted banhammer on a vendor. Scamming buyers is less of a problem, as the losses are limited. Generally, the wholesale/retail wall is broken down, leading to better prices for buyers and sellers!
Finally, using cryptos to pay for goods on a decentralized market should in theory be safer than using a credit card, because there is no "shared secret" requirement. No more giving somebody you don't know your credit card number!
Great points overall, but I think one thing you should know is that Paypal and Ebay split a while back. I think Paypal saw Ebay as a sinking ship, but the lifeboat they're in now is about to hit turbulent waters caused by the tempest that is cryptocurrency!
Yes that is true they split in 2015, I think it was mostly a cosmetic change to protect Paypal from Ebay's losses. Perhaps Ebay is losing market share to Amazon? However Paypal's revenue and stock tripled in the last 3 years. They've got 200 million users worldwide. And they're one of the sh*ttiest companies to deal with for everyone. According to my reading they've backed off their policy of freezing accounts all of the time because of the bad press it generated. Nonetheless they routinely put holds on accounts and routinely harass the people who make them millions of dollars per day!
I've been thinking about Blockmarket Desktop versus Blockmarket Web - the desktop version is actually the original concept, a decentralized market that is hosted redundantly by its users. Blockmarket web in theory would be susceptible to shutdowns. However, if enough people are running it, it should be secure. Also, this market does not seem like it's focused on black market and/or illegal items, so there isn't much reason a government would want to shut it down. As long as everybody is paying taxes...
Technically, the Syscoin QT wallet was the original concept of the marketplace, first via console command and then as a GUI directly on Syscoin QT 2.0.
QT, however, is not easy to work with and adding much needed improvements is not only time-consuming but still really ugly and not intuitive or even user-friendly.
This and for a few other obvious reasons, is why we went the web-dev route by first designing an API for developers that harnesses the functions of the blockchain and the using that same API to build Blockmarket as a web-app.
The concept of adding Syscoin masternodes creates a decentralized point-of-entry to Blockmarket web, so yes, one node can be shut down, but not the entire network.
We are not at all focused on black market or illegal items, in fact, we will moderate anything we come across (or is reported) that is illegal in our country (Canada). Although illicit goods are a very large market, in comparison to our target market (everyone else) it is a very small share of the pie.