Why has no-one done a crypto Ebay? - page 2.

Galahad

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Quote from: kryptqnick on September 20, 2020, 04:35:16 AM

I don't use Ebay, but don't some of those fees cover the taxes? I mean, as far as I know if you're selling something on Ebay, the taxes are considered paid, it's all legal. I also came accross this discussion that seems to confirm my hypothesis. So my point is, it's not only Ebay getting rich from the fees they impose (even though they are), but it's also the fees associated with the whole buying-selling business their fully legal. Darkweb markets are obviously not paying taxes (right?), and if a version of ebay accepted cryptos and did everything to remain legal, it would probably impose fees like that as well.

If the fees were tax then nobody could undercut their prices. But Ebid has significantly lower fees than Ebay does.

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For others. I just want to make it clear I'm not talking about trading cryptocurrencies; I'm talking about buying and selling things.

bitbollo

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it's very difficult have a shop like ebay that use only cryptocurrencies.
Ebay it's one of kind, it has been able to gain the bigger portion of market share. Ok you can pay fees for listing but nowadays here you find a lot of stuffs listed and a lot of people ready to buy your stuffs.
I see a strong difference also respect other "famous" shop specialized in some fields (like DelCampe /HipStamps).
In comparison Just few people use cryptocurrencies... unless it become a new standard for the vast majority of population it's very hard we see a real ebay competitor able to use only cryptocurrencies.

Wawa2013

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Everyone will complained if make transactions with large fees, To my knowledge, buying goods using Bitcoin on online
sites has a fairly large fee. Unfortunately, very few online stores accept Bitcoin payments. it's not that they don't want
to accept Bitcoin payments, but some of its governments prohibit using cryptocurrency for payments. But we must be
optimistic that there will be many online sites in the future that will legally accept Bitcoin payments.

Slow death

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Quote from: bryant.coleman on September 21, 2020, 01:22:52 AM

We have a lot of startups such as Bitify now. Who knows, in the next 5 to 10 years, one of them may even overtake eBay.

I do not doubt that they will grow in the coming years if they continue like this:

I think the reason we don't see "crypto Ebay" sites is because there are still legal and high volatility issues. Because a person who doesn't have bitcoin will hardly want to go buy bitcoin with his bank card and pay a high fee and then take the bitcoins he just bought to go buy something on some website where they accept bitcoin as a means of payment. while you can simply buy things there on ebay with your bank card (even though it also has a high fee, it still has the issue of being more practical in relation to having to buy bitcoin and then having to take bitcoin to go to the site that accept bitcoin and still run the risk of the bitcoin price having a big dump and the value does not reach to buy the thing that the person wanted to buy)

bryant.coleman

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There are several sites similar to Ebay, such as Bitify. Everyone want online shops similar to Ebay. But do you guys know how long it took for Ebay to grow to its present state? Ebay was founded in 1995 and for the first 2-3 years, it only had a few thousand users. Only after Pierre Omidyar received a loan of $6.7 million from Benchmark Capital, the site was expanded and the business increased. We have a lot of startups such as Bitify now. Who knows, in the next 5 to 10 years, one of them may even overtake eBay.

NavI_027

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Quote from: gamer4156 on September 20, 2020, 12:59:23 PM

I know about some of the crypto ebay sites but I don't trust them.

Me too. Don't get me wrong, I am really hungry for a shop (whether physical or online) that accepts btc payments because until now I can't find a nearest one. However, you can't blame others, including me, if it's hard for me to appreciate them. You know, their name is not that big yet thus hard to believe in. Maybe they need more publicity, more advertisements so that they become more famous and build a stronger reputation

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Wexnident

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Quote from: BlackHatCoiner on September 20, 2020, 03:59:26 AM

I was actually thinking that too, recently. Even if most of the people that have bought cryptos are just holding them, there should be an eshop for those that want to keep their anonymity when they'll pay. I don't understand why ebay does not allow their users to accept bitcoin. (with their own responsibility)

That's the thing, they can't take full responsibility for it, either in terms of security or in terms of applying Bitcoin as a payment model currently. Can't really force them to put something out when they themselves don't really see any advantages in doing so.

Additionally, afaik Ebay fees are mostly on them being a third party middleman between the seller and buyer plus the fees from delivering items from place to place, add that to the additional fees they get for profit, fees would naturally be quite insane, especially if you're buying from someone overseas. I highly doubt crypto could even do something about it, since it isn't the issue of transferring money, but rather the issue of the fees of transferring the items.

hatshepsut93

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Quote from: Zionatin on September 20, 2020, 03:58:07 PM

99.9999% of crime is done using fiat.

99.9999% of everything is done using fiat, so of course it will be true for crime too. What you should look for is relative amounts, like percentage of criminal transactions on the network. I'm sure this is higher for Bitcoin than it is for banks, because with all the KYC and financial monitoring, it's just harder to move big amounts of money. Or take ransomware for example, Bitcoin is already a dominant payment method there. I think the criminal use of Bitcoin is something that we should just acknowledge and accept, there's no way to have both privacy and control over your money without having criminals attracted to it.

Pmalek

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Quote from: BlackHatCoiner on September 20, 2020, 03:59:26 AM

I don't understand why ebay does not allow their users to accept bitcoin. (with their own responsibility)

Because they can't offer buyer protection with Bitcoin. When people get scammed (it's not a question of if, but when) they will be scammed while using Ebay's services. They probably don't want such tags. Even if they were to state in their TOS that they don't provide any guarantees or recommend that users pay with Bitcoin, people wouldn't care and would hold Ebay accountable.

Zionatin

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There are market places that you can pay bitcoin or crypto with. They do not accept it directly though, they usually handle it through a third party payment processor much like bitpay works.

Quote from: Bitcoinenthusiasts23 on September 20, 2020, 01:13:56 PM

It would not be legal and more of a black market kinda thing. The government would probably scrutinize the shit out of it.
Your vision is good and indeed it might be the future but man bitcoin has a long, long way to go before there can be sites like these. It could be a thing in niche crypto markets where its legal though.
By the way, you can buy gift cards kinda stuff via Bitcoin.

You already get legal markets you can spend bitcoin on -_- There are many things you can buy with bitcoins.

Quote from: GideonGono on September 20, 2020, 01:06:27 PM

Quote from: tyz on September 19, 2020, 05:23:06 PM

First of all, a "crypto Ebay" would not be feeless. Handling with Bitcoin costs always fees.
Secondly, crypto Ebay's already exist in the Dark Web. There you can find many marketplaces and Ebay clones where you can buy all things and stuff (legal and illegal) with Bitcoin and cryptos like Monero.

Maybe OP didn't know about it or had forgotten about how crypto became famous in the dark web for something like that,
And we still carry it till this day because some still see's crypto or Bitcoin only as a money for illegal activities because it was once known for that purpose.

99.9999% of crime is done using fiat.

20kevin20

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Quote from: Bitcoinenthusiasts23 on September 20, 2020, 01:13:56 PM

It would not be legal and more of a black market kinda thing. The government would probably scrutinize the shit out of it.
Your vision is good and indeed it might be the future but man bitcoin has a long, long way to go before there can be sites like these. It could be a thing in niche crypto markets where its legal though.
By the way, you can buy gift cards kinda stuff via Bitcoin.

Craigslist exists (and Romania has OLX), and it's not illegal. Why would a BTC marketplace be? OpenBazaar has been out there for a while and I don't reckon having read about someone who's got a problem with it yet. It's a peer-to-peer market, there's nothing illegal in it.

Bitcoinenthusiasts23

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It would not be legal and more of a black market kinda thing. The government would probably scrutinize the shit out of it.
Your vision is good and indeed it might be the future but man bitcoin has a long, long way to go before there can be sites like these. It could be a thing in niche crypto markets where its legal though.
By the way, you can buy gift cards kinda stuff via Bitcoin.

GideonGono

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Quote from: tyz on September 19, 2020, 05:23:06 PM

First of all, a "crypto Ebay" would not be feeless. Handling with Bitcoin costs always fees.
Secondly, crypto Ebay's already exist in the Dark Web. There you can find many marketplaces and Ebay clones where you can buy all things and stuff (legal and illegal) with Bitcoin and cryptos like Monero.

Maybe OP didn't know about it or had forgotten about how crypto became famous in the dark web for something like that,
And we still carry it till this day because some still see's crypto or Bitcoin only as a money for illegal activities because it was once known for that purpose.

gamer4156

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To my knowledge, there are several online sites that offer cryptocurrency as their payment system. A big problem is that it is not approved by any government which is why many are afraid to do it. There are some social media based sites where you can be able to buy daily necessities but you have to pay fee. I know about some of the crypto ebay sites but I don't trust them.

DougM

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Quote from: Galahad on September 19, 2020, 01:50:13 PM

I'm sick of the fees on Ebay it's become totally unprofitable for some items due to the massive fees. I use Facebook marketplace but that's more for local sales.

With crypto Ebay you could have near zero fees and have a decentralized marketplace model. I know there are things on TOR etc, but I just wouldn't trust it tbh..

As an interesting historical footnote Satoshi himself was considering an 'eBay like marketplace' use-case for bitcoin when he first designed it and even had an partial framework coded in his initial release. His rational for even attempting it further illustrates his amazing vision/brilliance:

Quote

Satoshi Nakamoto <[email protected]> Wed, Mar 9, 2011 at 7:39 PM
To: Mike Hearn <[email protected]>

There's an unfinished part of the protocol that deals with setting up publisher/subscriber channels for distributed routing via the network. What was the purpose of this? Was the idea to have a p2p market or did it have some kind of lower level function, like perhaps broadcasting expected tx fees?

I was trying to implement an eBay style marketplace built in to the client. Publish/subscribe would be used for broadcasting product offers and ratings/reviews. Your reviews would be weighted by the blocks you've generated. I rightly abandoned it in favour of JSON-RPC, so other authors could implement it externally. The publish/subscribe "meet in the middle" mechanism was an interesting concept, but nothing remains that uses it.

It was part of writing code to explore the most technically demanding use cases and make sure Bitcoin could support everything that might be needed in the future, given the locked-in nature of the rules once the block chain started.

AicecreaME

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Quote from: tyz on September 19, 2020, 05:23:06 PM

First of all, a "crypto Ebay" would not be feeless. Handling with Bitcoin costs always fees.
Secondly, crypto Ebay's already exist in the Dark Web. There you can find many marketplaces and Ebay clones where you can buy all things and stuff (legal and illegal) with Bitcoin and cryptos like Monero.

I agree. With bitcoin, I think the fee might be lessen only a little bit if ebay will accept it as a method of payment. Also, adding that feature on their store needs a proper survey, because they will spend money on it if they want to put it on their store. If the survey turns out that there are less people who are willing to pay in Bitcoin, then there's no point on adding it on their feature, simple as that.

meanwords

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We might have near zero fee (assuming that the cryptocurrency used is not Bitcoin or ETH), but isn't this more dangerous that centralized platform? because we can't deny that even centralized are prone to fraudulent activities, what more if a decentralized and anonymous platform for ecommerce is created? decentralized ecommerce platform will be hard to implement to be honest.

kryptqnick

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Quote from: Galahad on September 19, 2020, 06:01:54 PM

Quote from: tyz on September 19, 2020, 05:23:06 PM

First of all, a "crypto Ebay" would not be feeless. Handling with Bitcoin costs always fees.
Secondly, crypto Ebay's already exist in the Dark Web. There you can find many marketplaces and Ebay clones where you can buy all things and stuff (legal and illegal) with Bitcoin and cryptos like Monero.

I just meant feeless from the Ebay perspective. They charge huge ammounts of money to sell things. Crypto transactions can be tiny.
Like I said I don't want to use the darkweb. This isn't about doing something illegal it's about having a cheaper and more viable alternative to Ebay.
There is also Ebid but nobody really uses it so it's always about having that critical mass I suppose.

I don't use Ebay, but don't some of those fees cover the taxes? I mean, as far as I know if you're selling something on Ebay, the taxes are considered paid, it's all legal. I also came accross this discussion that seems to confirm my hypothesis. So my point is, it's not only Ebay getting rich from the fees they impose (even though they are), but it's also the fees associated with the whole buying-selling business their fully legal. Darkweb markets are obviously not paying taxes (right?), and if a version of ebay accepted cryptos and did everything to remain legal, it would probably impose fees like that as well.

BlackHatCoiner

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I was actually thinking that too, recently. Even if most of the people that have bought cryptos are just holding them, there should be an eshop for those that want to keep their anonymity when they'll pay. I don't understand why ebay does not allow their users to accept bitcoin. (with their own responsibility)

Quote from: grabpopcorn536 on September 20, 2020, 03:34:13 AM

Amazon did that, no need for eBay.

When did amazon do that? I can still see that it only accepts paypal, bank transfer and gift cards.

Quote from: Galahad on September 19, 2020, 01:50:13 PM

With crypto Ebay you could have near zero fees and have a decentralized marketplace model. I know there are things on TOR etc, but I just wouldn't trust it tbh..

Of course you shouldn't trust it. 99% of the dark web's marketplaces are scams. Guess why, because you can't catch them.

grabpopcorn536

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Amazon did that, no need for eBay.
eBay is a private exchange and people need to pay a fee for advertising. Profits from trading crypto are certainly not high since almost all exchanges can exchange crypto, trade OTC. Paying an ad for eBay is wasteful and impractical. It is more of a promotion than sales.

Topic: Why has no-one done a crypto Ebay? - page 2. (Read 671 times)