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Title: Bitcoin's killer app: Online Auctions and Escrow Service? Post by: amspir on March 15, 2014, 05:57:30 PM It seems to me that a bitcoin-based auction site would be a killer app for bitcoin.
Obviously, eBay/PalPal currently has this market locked down. However, I think that the eBay/PayPal system is designed to be over-protective of the consumer, I think it is ludicrous that a buyer can claw back a payment from a seller a year later. With a payment system that soft, it's a wonder that any seller sells at eBay. How hard would it be for a bitcoin-based auction site to start eating into eBay's business? Such a site would not be able to compete with eBay/PayPal's level of consumer protection, but could provide an escrow service and build a sterling reputation of being a fair arbiter of disputes - but ends with All Sales Final when escrow is released. Would sellers be attracted to such a site, and would buyers follow? Title: Re: Bitcoin's killer app: Online Auctions and Escrow Service? Post by: master-P on March 15, 2014, 10:39:18 PM There actually used to be an auction site with escrow called bitmit.net, but it shut down abruptly. A google search gave me https://cryptothrift.com/. Never tried this one though, so I can't really vouch for it.
Sellers and buyers would definitely be attracted to good crypto auction site. Expecially if it doesn't gouge people the way Ebay does >:( Title: Re: Bitcoin's killer app: Online Auctions and Escrow Service? Post by: mel2000 on March 16, 2014, 02:15:40 AM Auctions need a healthy population of bidders to succeed, and that won't happen if the rules tilt too favorably toward sellers.
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