Bitcoin Forum

Sneak Peek at Bitcoin's upcoming killer app - Open Bazaar

Many Bitcoin developers and investors, including some the most powerful Venture Capitalists of our day, have stated that Bitcoin's long-awaited "killer app" could be a decentralized marketplace that uses Bitcoin.

Open Bazaar may well be that marketplace, a peer to peer network that isn't controlled by any company or organization. Instead of visiting a website, you download and install a program on your computer that directly connects you to other people looking to buy and sell goods and services, and the only payment option is bitcoin. Earlier this year Union Square Ventures and Andreessen Horowitz gave the Open Bazaar developers US$1 million in funding.

http://bravenewcoin.com/news/sneak-peek-at-bitcoins-upcoming-killer-app-open-bazaar/

interesting link there..mucho gracias

Open Bazaar will become very popular indeed, but if it takes off in the wrong crowd, it will once again turn into a new Silkroad scandal. I like the concept, but it has the

potential to turn to the dark side of the Bitcoin community. I am just glad, they are doing proper testing of the application and they not rushing it. It would be bad, if it

comes out, and it's full of exploits and security holes.  ::)

this is a good question. how will they prevent that from happen? i guess you will also find alot normal stuff on OB but not only.

i dont think that they will be helpless when people list illegal stuff. there would be no funding if this would be the case.

After Open Bazaar is successful, can somebody copy the code and modify it to suit the dark net operations?

Probably if it's open-source.
Hmm, I also like the idea but I don't want it to become Silk Road 3.0
  :(

If it works the way they say it will, I have a feeling Open Bazaar will be a huge success. This truly is 'the Bitcoin killer app.'
Edit: The only possible downside would be security flaws with the app itself.

maybe not real security flaws but holes to kick out bad players?

Yes I think this could be possible since it is open source.Forking the code shouldn't be a problem.
https://github.com/openbazaar (https://github.com/openbazaar)

Just about all software can be hacked or misused, for this reason I would be unwilling to run one of these "open bazaar nodes" on the same computer as my Bitcoin wallet.
I"m no hacker but I can think of a few reasons why I wouldn't want to be broadcasting my IP address to the world saying "hey I got bitcoins."

But if everything works out as planned I'll be setting up a shop and selling 'stuff' :) But I"ll be doing it over tor.

I really do have high hopes for  Open Bazaar to be  successful  because the traders from Ebay and elsewhere could make this an enormous global marketplace

Yeah,the killer app that Bitcoin is waiting for ;D

I'm pretty sure that this "tool" the Open Bazaar will change lot of things, i'm so impatient to see something really working 100%, in the other side, there will be some guys who will regret for sure :P, ty for the article.

Now let's spread the word and share it on some social networks, good things need to be known.

I have heard of this a short while ago and it does look promising, I second the opinion that there is potential for it to go to the dark side but this must have been thought of, perhaps there is some kind of moderation that will take place and keep it legit.

this looks fantastic! cant wait to try it out.

I'm pretty sure the only moderation will come in the form of customer feed back or some other kind of reputation system; the issue is that all reputation systems that I'm aware of can be manipulated and abused.
What would stop me from extorting a reputable seller? For example I could be like "Why you sir have a great reputation here, it would be a shame if something were to happen to it, pay me or else!" :-\

Me too

I still remember having high hopes for the bitcoin auction site that went belly-up over a year ago. Its logical that someone else will step in and fill the gap.

Can we have charge back or return of goods in the Open Bazzar?

As far as I know all orders will be done with a trusted 3rd party who the buyer will pay to moderate any disputes should they arise.

As a buyer you would pay around 50 cents to a dollar as insurance for this service, a service that should not be needed unless there is a dispute, understanding that the trusted 3rd party should be impartial and should side with the buyer unless the seller can prove the items or goods were shipped and received.

Now this is all built into the app to make it super easy to understand and use but whats really happening is when you buy an item with the Open bazaar app you won't be sending bitcoins to the seller you will be sending bitcoins to an address that nether you nor the seller can access, because it requires two of three keys to unlock. You are given a key the seller is given a key and the trusted 3rd party is given a key.

If there is a dispute the trusted 3rd party will decide to the best of their ability who gets his key. otherwise you will give your key to the seller upon receiving your items, if you don't the seller will contact the trusted 3rd party to open a dispute.

Trusted 3rd parties will also have a reputation rating within the app with feedback. They well be selling their services within the app.

Then it's not decentralized and has censorship.

Well, the usage of the 3rd party should be voluntary otherwise it IS the same as Ebay - PayPal + Bitcoin

Imagine the possibilities if even a fraction of ebay users came over to Open Bazaar!  I also have high hopes for this, I like the 3rd party moderator concept and also that we each run our own store with our own computer power. It is still in Beta...any day now.