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Author Topic: OpenBazaar , a failure ?  (Read 4522 times)
OmegaStarScream
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August 17, 2016, 02:20:37 PM
 #1

I made a topic similar to this one few months ago, now I once again checked the OpenBazaar stats and It looks like they are the same (If not worst)



I've been checking the stats almost daily but there is absolutely no progress : https://bazaarbay.org/stats/day

The question is : Can we consider OpenBazaar as a failure in the crypto currency world ? and why ?

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August 17, 2016, 02:42:57 PM
 #2

I had the exact same feeling when it was opened for public. People love to store and invest their bitcoins instead of spending them. That is the trend.

Bitcoin has a huge upside potential and people believe it can go up 2k USD by the end of next year. So why would anyone spend their bitcoin for online goods? Instead they can use their fiat currency for the same.


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August 17, 2016, 02:49:22 PM
 #3

Bitcoin is like a gold type of asset, so it's pretty stupid to buy random shit that you can buy with fiat with it. What's the point?

We'll never see massive mainstream usage unless you get discounts or some incentive to do so. We'll see other poorer countries use them before us most likely.

Once physical cash is removed we will see a huge increase in use but that is at least 10 years from now.

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August 17, 2016, 03:24:39 PM
 #4

thats wat they said about Bitcoin until i started using it xD

put it on android already

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August 17, 2016, 03:32:52 PM
 #5

I am not sure whether OpenBazaar can be declared a failure project at this point. It is definitely too early.
I think that their idea of decentralized marketplace is amazing, but I doubt it is enough to gather huge consumer base around it.
They are not promoting themselves at all (it is a problem for almost all decentralized projects), so it is pretty obvious they won't be recognized.


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August 17, 2016, 03:34:24 PM
 #6

i don't think you can call it a failure (yet). i think the main problem is that they didn't do much effort on advertising to market it correctly. the only time i heard something from openbazaar was when it was released. after that there was nothing. i think that's the main reason why things are not picking up.
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August 17, 2016, 03:36:01 PM
 #7

Open Bazaar is a great project, but I think it's way too early for such decentralized shopping opportunities.
It's still not easy to use for the average Bitcoin user.
OB could become the myspace of crypto markets.In future when Bitcoin is more known and hopefully used by mainstream, other new types of those kind of marketplaces might come around and could be able to make the breakthrough.

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August 17, 2016, 03:36:07 PM
 #8

I had the exact same feeling when it was opened for public. People love to store and invest their bitcoins instead of spending them. That is the trend.

Bitcoin has a huge upside potential and people believe it can go up 2k USD by the end of next year. So why would anyone spend their bitcoin for online goods? Instead they can use their fiat currency for the same.


Right, why go out of your way to buy bitcoin just to spend it?  Unless you earn bitcoin from your job (which some tech guys do), it makes no sense to do that.  As far as openbazaar goes, I've never used it.  It sounds like a great concept, but is it in practice any better than eBay?

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August 17, 2016, 03:51:00 PM
 #9

I had the exact same feeling when it was opened for public. People love to store and invest their bitcoins instead of spending them. That is the trend.

Bitcoin has a huge upside potential and people believe it can go up 2k USD by the end of next year. So why would anyone spend their bitcoin for online goods? Instead they can use their fiat currency for the same.


Right, why go out of your way to buy bitcoin just to spend it?  Unless you earn bitcoin from your job (which some tech guys do), it makes no sense to do that.  As far as openbazaar goes, I've never used it.  It sounds like a great concept, but is it in practice any better than eBay?
There's not a lot of merchants on it and OP is right: the number of them hasn't changed in months. So yeah, great concept, but in practice, far behind Ebay in usefulness.
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August 17, 2016, 04:23:21 PM
 #10

I had the exact same feeling when it was opened for public. People love to store and invest their bitcoins instead of spending them. That is the trend.

Bitcoin has a huge upside potential and people believe it can go up 2k USD by the end of next year. So why would anyone spend their bitcoin for online goods? Instead they can use their fiat currency for the same.


Right, why go out of your way to buy bitcoin just to spend it?  Unless you earn bitcoin from your job (which some tech guys do), it makes no sense to do that.  As far as openbazaar goes, I've never used it.  It sounds like a great concept, but is it in practice any better than eBay?
There's not a lot of merchants on it and OP is right: the number of them hasn't changed in months. So yeah, great concept, but in practice, far behind Ebay in usefulness.

dude... ebay is there for years...
i think is too early to say anything about openbazar. If bitcoin still have low use, imagine a bitcoin based market.


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August 17, 2016, 05:24:15 PM
 #11

I wouldn't call it a failure, far from that. It was just generally "overhyped" as people had expected it to gain a lot more attraction outside of the Bitcoin ecosystem. I'd say it is quite early for OpenBazaar and there need to be a lot more changes/improvements before it can take off. I was genuinely intrigued when I've read their roadmap, back in May. Anyhow, if I'm correct (looking at the yearly chart) the number of listings keeps growing.

There's not a lot of merchants on it and OP is right: the number of them hasn't changed in months. So yeah, great concept, but in practice, far behind Ebay in usefulness.
You're comparing apples and oranges.

It's still not easy to use for the average Bitcoin user.
The usability should improve once they reach some of the specified changes (e.g. IPFS, improved search). I've yet to install it myself.

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August 17, 2016, 05:37:24 PM
 #12

You cannot expect something like this to gain traction out of nowhere. This will be as big as Bitcoin's acceptance on the common population, and we are still far from reaching that tipping point. Come 2025 and we will see where decentralized marketplaces are at.


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August 17, 2016, 05:43:54 PM
 #13

I found the UI very clunky and not ver user friendly.  i wouldnt say it is a failure yet, time will tell
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August 17, 2016, 05:46:53 PM
 #14

I think the concept is a little above the general grasp of many average users. Yes, it is nice to have a decentralized market place, but how many people understand it's advantages over eBay and the

other centralized sites? I also think it is still a bit premature to declare it a failure. It needs something to give it some spark... Someone must sell a product in huge demand exclusively on that platform,

and the people will flock to the site. What will the product be and who would be brave enough to do it?   Roll Eyes

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Carlton Banks
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August 17, 2016, 06:34:32 PM
 #15

I think the concept is a little above the general grasp of many average users. Yes, it is nice to have a decentralized market place, but how many people understand it's advantages over eBay and the

other centralized sites? I also think it is still a bit premature to declare it a failure. It needs something to give it some spark... Someone must sell a product in huge demand exclusively on that platform,

and the people will flock to the site. What will the product be and who would be brave enough to do it?   Roll Eyes


You've nailed it more or less entirely: the vendors need a way to get customers attention. Exclusive products is one way to do that.

So it's bound to become a success (seeing as how the system performs as infrastructure is not the issue), as I fail to see how no entrepreneur until the end of time can come up with the offering that gets the world's attention. It remains to see what that vendor/product will be.

Vires in numeris
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August 17, 2016, 06:40:40 PM
 #16

it's pretty much sub beta right now. that's how open source type stuff works. if people don't like an aspect then they can contribute something to improve it. by the sounds of it some cool stuff is on the way. I think this is gonna take several years to sharpen up.

i'd give it a try if it had a decent search function and you didn't have to fire up a node of some sort.

does anyone have experience of the reputation/escrow system? is it working properly?

jasonv75
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August 17, 2016, 06:44:34 PM
 #17

I wouldn't call it a failure just yet.
Remember it took years before Bitcoin really got any traction at all.
I guess same timeframe will apply here has well.

Veltor.
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August 17, 2016, 07:29:30 PM
 #18

As long as the users don't decline i don't think it's a failure.

Just give it some time to grow and improve.

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Bestwishes745
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August 17, 2016, 07:36:08 PM
 #19

For me the main reason is that not much of the bitcoin users (especially newbies) know about that site, open bazaar need to advertise their products and their market everywhere, especially on this forum, with that everyone will daily visit there and with that people will start to buy from there. advertisement is the main key for the success of any business.
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August 17, 2016, 07:48:03 PM
 #20

I personally like to use it for certain things, as it is tough to buy out of the country items and have them shipped easily, so I feel as if OB works with this in the best way possible.

Mostly just rare items that I could only get from inside that country itself and not from any place / other store online.

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