Bitcoin Forum

With the increased interest in cryptocurrencies, there are growing possibilities of their application, namely payment of bills, short and long-term investments, purchase of goods / services, etc. To me, the last one is most rational above all.
So how do feel about that guys? Are phrases like “an Iphone for X BTC” are gonna become commonplace? Are there any prospects?

In general, the direction is quite promising. In some aspects, cryptocurrencies can surely become as a good alternative to classic payment methods, but there should be sufficient legal regulation of the sphere, and, of course, time.

We have marketplace here in the forum just for this type of transaction on Goods (https://bitcointalk.org/index.php?board=51.0) section. It's already happening so thinking if its possible, definitely and it's already on action.

I've seen some existing marketplace that has this.

• OpenBazaar (https://openbazaar.org/)
• bitify (https://bitify.com/)

Cryptocurrencies have not replaced the fiat currencies, but the rapid growth of cryptosphere already makes it attractive for investment and speculation. So far, Bitcoin overtakes bank deposits, but for how long?

I am well acquainted with the OpenBazaar marketplace ,and I think that it’s good because it’s a network for selling goods and services directly from one person to another, which works with Bitcoin and does NOT have any centralization controlling the platform’s functionality, so you take responsibility for your own activities within the network.

probably I don’t know much this topic, but today it’s impossible to take any cryptocurrency seriously IMO. no state will allow to use currency that is difficult to control for any calculations

Yeah... possibilities aren't just there, they've been existing for years. Naturally, payment for goods and services are the most rational outlet, given that p2p payment was the whole reason for Bitcoin's creation (take away all economic ideology and philosophy and you have that plainness).

jossiel points out the clearest examples, all of which I've used at least once.

I'd like to point out, as a 100% crypto (mainly Bitcoin but I always accept a major currency) earning freelancer, that there's also a microcosm of people who earn and hire almost purely in Bitcoin. That's a prospect right there that's growing and has so much room to grow into.

As long as there are states as an authority, this will not happen. Only calculations in mini groups are possible. More than that, it’s possible only for a very short period of time, because there are a lot of specialists who will create imaginary servers.

I prefer to use Storiqa. It provides small producers the opportunity to enter the international market. The company also uses blockchain technology to create a system of honest reviews on products, which is equally important, and a multi-currency wallet simplifies international payments and reduces the barrier between sellers and buyers from different countries.

Why so? Venezuela released the national cryptocurrency Petro on February 2018. The issue amounted to 100 million tokens, 82.4 million of which went on sale, the rest remained with the state.

I am ready to argue with that comment: just because of the absence of restrictions and centralized control, the project’s reputation suffers from the very beginning of its development to this day. It is logical to assume that the most advanced representatives of the black market are gradually migrating from centralized sites to such as OpenBazaar. On the very first day of launch, several drug dealers took to the platform, that is, in addition to T-shirts or souvenirs, some sellers can already buy weed, and maybe even more terrible

So I still think fiat marketplaces are way better. In some fiat marketplaces customers can easily choose the option they like the most depending on a situation.

Reminds me of the SIlk Road in a way.  People must be careful when using OpenBazaar otherwise it could have bad consequences.

The topic is great. I find the complexity of monitoring of transactions being quite a drawback. Banks and other financial organizations responsible simply don’t have any possibility of doing that, I mean they cannot monitor the issuing and movement of currencies as well as the withdrawal of transactions seem not to be possible.

I don’t trust crypto markets and prefer to use classic ones, but it seems that they will become much more popular in the future. At the moment, I have heard about openbazaar and modultrade several times, the reviews about the latter are not bad.

Yes, but cryptocurrencies don’t require any type of fees for successfully generated international transactions. Of course there is still a fee within the thing, but it’s still cheaper in the end.

Just wondering, what was the reason to release of the national cryptocurrency in Venezuela?

I bought goods several times and always found everything I needed! And also there’re some goods at the Auction you can get for a good price.

One of Petro's goals is to overcome the “financial blockade” by the United States, which imposed financial sanctions against Venezuela, effectively isolating its power from the dollar system.

Check the project a couple of times a week. So what I see now the interest in it is getting bigger day by day. Keep it up guys! Of course there’s always something to be redone or upgraded - that’s life. But overall I find it quite successful and promising.

I guess that the launch of Petro is a desperate step, designed to divert the attention of the population of the country from the most difficult social and economic problems.

The introduction of Petro is the same virtual step as the cryptocurrency itself, and in no way will it help the Venezuelan authorities to cope with the crisis.

 So does anybody bought anything with the crypto? I mean the real goods which you are using in everyday’s life. Is it more convenient than Amazon offers?

I’ve ordered apple headphones for eth, it was a bit cheaper than in fiat stores (maybe because of the low exchange rates). But i’ve supported this way because of the idea.

Where did you ordered those?

ModulTrade

I don't think Iphone will do that. But for me, we should target large payments that are most used in a country. For example in China, Alipay and Wechat Pay dominates there. Imagine if they include btc there and a discount to customers who pay in btc then we can expect the price to shoot up to $50k.

In general, the main thing that they need to do is to attract the Chinese, they are happy to sell anything, as long as it is sold, and for the crypto or not - it doesn't matter to them.

The Chinese used to have a somewhat complex relationship with crypto, how is it now?

There is a ban for BTC, but it seems that this does not prevent people from using cryptocurrencies without problems huh.

Plus, the blockchain can sell in stores something that doesn’t work with a regular currency - this same Modultrade makes it possible for trading agents to earn money through intermediation. Where did you see this in regular stores?

Well, in general, sometimes it happens, but yes, it is more difficult to implement.

Cryptocurrencies, smart contracts and the blockchain in general give a lot of trading tools, which both buyers and sellers will benefit from. Although we know who will lose - the banks.

It's not about banks, but the fact that everyone continues to play cryptocurrency on the stock exchanges, and not to use it for its intended purpose.

Since we all write here, then I can assume that we are for the fact that cryptocurrency has the future. In my opinion, it should be mandatory to use such services - without enthusiasts, nothing can start, you need to set an example.

Well, no, enthusiasts alone cannot do anything. While it will not be more profitable and more convenient than buying for Fiat, such shops will be held by enthusiasts.

Plus, one should understand that these stores do not cause serious questions to the government until they become popular - once they become really big, the government will immediately respond.

On the other hand, if they are large and influential, remaining in the legal field, it will give grounds to solve problems for the common benefit - including the public one.

Iphone itself wont really consider such thing but these things do really only exist by resellers where they would decide if they would accept BTC as a payment.
We do already seen it for years just like been said earlier by other posters but we wont really come into a point where these big companies will add up crypto as a payment specially with BTC.
Volatility plus assurance on making stable profits will always been an issue for businesses like these.

Iphone ? Do you mean apple company ?


yes .so far i didnt  see a main company that uses crypto as payment option .   crypto is still kinda new and it needs more adoption & legality for companies to trust them.


Volatility is not an issue because they can always adjust the pricing of their items .  most resellers and buy & sell companies are now slowly growing and they all love using crypto as payment gateway .

Well, this is a question of the distant future, while we can use the fact that the goods in such stores are cheaper.

Are they definitely cheaper?

If we are talking about Modultrade, then everything I saw is cheaper by 20-30%

LOL there are also unusual products - Russian art is amazing!

So what’s the advantage of cryptomarketplaces? Let’s Assume that the price is lower due to lower costs, etc. that’s it?

isn’t it enough for you? if you’re able to save a couple of funds — it’s always good

as for me, the lowest price is a determining factor.

Anyway, you can already find some stores with low prices - Taobao f.e. but, you need to know Chinese :)

comprehending of how to make a purchase using crypto for typical buyers is like learning chinese

well you might as well use Google Translate dude

I haven’t seen a single crypto marketplace, which would be on a par with convenience and accessibility along with Amazon f.e., or at least a regular store. These are always some incomprehensible sites, where even it is difficult for me to understand what they want from me, although I own a cryptocurrency.

have you ever tried speaking to chinese using the translator? esp. if they are also using this tool.

overall, the wallet restocking before an actual purchase when, say, using ModulTrade,  is not complicated

ofc it’s not a big deal for you because you’re experienced enough. i’m almost sure that it can be hard for newbies.

c’mon dude, we have the Internet as an option :) if you really wanna learn something, it wouldn’t be a problem

Nowadays all the cryptocurrency projects should make more efforts to popularize the idea itself. The majority of society knows that there was just some bitcoin that is a burst bubble lol.

Bitcoin is a father of all the other bubbles :D
Anyway, I agree with this point. no promotion — no buyers and sellers as well.

We can't see someone who will say: I am selling "this" for "X" amount of bitcoin because we all take care of btc/usd price, which means bitcoin is interesting when we know price in usd or euro. Imagine someone sells for "X" bitcoin and then price felt by 50%, in any way he will sell for "2x", I already explained the reason. Bitcoin is just a great method of payment, so people still will sell in usd but let you to pay with bitcoin and altcoins.

There's actually many benefits to using a crypto marketplace over a fiat marketplace. Not that much for physical products, but for virtual products it goes hand in hand. A few examples:

1) When buying a virtual product for fiat you oftentimes need to wait for the payment to be processed, then be subjected to KYC because the item is fraud-sensitive and paying in fiat is reversible. It's a hassle to make the purchase, whereas with crypto you completely bypass the need for either by simply paying in non-reversible cryptocurrencies.

2) In the same vein, there's many virtual items you are unable to buy on Amazon and/or eBay because they're so fraud-sensitive. Anything ranging from gift cards, subscriptions, top-ups, e-tickets to events and the like are not allowed to be listed. Cryptocurrency isn't prone to charge backs or fraud, so selling aforementioned items for crypto is perfect.

3) P2P commerce across the globe. If you want to buy an item from someone within your country, you're able to do so relatively easily with the help of a bank transfer, PayPal transfer or other well-known payment method within your country. It gets trickier when you try to extend this to a global scale. A person from France can't pay a person in Bangladesh because PayPal doesn't support the latter, bank transfer fees are way too high and other methods of payment aren't supported either. Cryptocurrency comes in really handy here because anyone can start accepting it immediately without requiring any permission and not subjected to any restrictions.

all the big stores had to start somewhere, and they also had to overcome distrust from the beginning.

it depends on categories of trade goods, but i agree on the whole. the goods i was looking for have a cheaper price (f.e. i compared different cameras and xiaomi tablets)

Bitcoin is not a bubble indeed. Bitcoin has completed the journey of 10 years and it is not a new thing now. For new things we can say that no promotions will result in no demand but it is not the case with bitcoins. Everyone knows that bitcoin is the future and it very valuable. Even if you or me sell the bitcoins, there will be always people who will buy our bitcoins and keep them save for future.

It is safer to use smart contracts on crypto marketplaces. Thus, you may be sure that you'll receive your goods/services and your money won't be stolen 8)
And your transaction will be anonymous and cheap 8)