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Author Topic: Why does a cryptocurrency not create its own marketplace?  (Read 122 times)
amrulshare
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October 30, 2017, 03:03:32 AM
 #1

now, many marketplaces are experiencing bad news so in the end becomes a scam. I just wondered why a cryptocurrency does not make its own marketplace, would not that be safe?  Sad

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October 30, 2017, 03:09:42 AM
 #2

What do you mean by that? Own marketplace? Like only digital currencies are used to transact business? Maybe you can further elaborate what you wanted to convey in that query.

Because in actuality, cryptocurrency has been in different marketplaces already especially in the e-commerce industry or online exchanges that you can have access 24/7.

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October 30, 2017, 03:12:20 AM
 #3

now, many marketplaces are experiencing bad news so in the end becomes a scam. I just wondered why a cryptocurrency does not make its own marketplace, would not that be safe?  Sad
Did you mean like this one? https://coinmarketcap.com/currencies/bitconnect/
In my opinion about every crypto not create its own marketplace caused by that will be so easy to get manipulation on the volume and its price. You can see bitconnect as the coin with a lot of manipulation.
The large volume gets centralized on its own exchange site.
That's pretty odd.
And do you think a lot of people must jump from one to each other just to make some trades?
It would not be safe.
Did you have other opinion about that?



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October 30, 2017, 03:12:29 AM
 #4

I get it... yes that would be a great idea, if only a brave soul would put up a mall or an arcade where all the stuffs are purchasable with cryptocurrency not just bitcoins. Man, when that happens, we will gone mainstream! 

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October 30, 2017, 03:35:13 AM
 #5

now, many marketplaces are experiencing bad news so in the end becomes a scam. I just wondered why a cryptocurrency does not make its own marketplace, would not that be safe?  Sad
Did you mean like this one? https://coinmarketcap.com/currencies/bitconnect/
In my opinion about every crypto not create its own marketplace caused by that will be so easy to get manipulation on the volume and its price. You can see bitconnect as the coin with a lot of manipulation.
The large volume gets centralized on its own exchange site.
That's pretty odd.
And do you think a lot of people must jump from one to each other just to make some trades?
It would not be safe.
Did you have other opinion about that?
doesn't  a cryptocurrency based on blockchain technology, how to someone manipulate the volume? do not equate to bitconnect they are not transparent !

I get it... yes that would be a great idea, if only a brave soul would put up a mall or an arcade where all the stuffs are purchasable with cryptocurrency not just bitcoins. Man, when that happens, we will gone mainstream!  

you are right, this is what I mean  Smiley because a cryptocurrency is not legal, could be an exchange to run our money  Cry

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October 30, 2017, 03:40:12 AM
 #6

Now the market is very impetuous. It's also full of capital, so there's a lot of different voices.

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October 30, 2017, 04:01:08 AM
 #7

now, many marketplaces are experiencing bad news so in the end becomes a scam. I just wondered why a cryptocurrency does not make its own marketplace, would not that be safe?  Sad

what do you mean by that you need to elaborate that man. If you are talking about place where you can buy bitcoin or altcoins i think the previous posts have that like coinmarketcap. I do not know how you have assume the scams in marketplace. Well we all know there are a lot of scams out there  but usually it's investment sites. There are also websites that you can purchase items using your bitcoin.

If you are talking about a literal market or a mall where there are items or grocery and they only accept crypto then it is a good idea and it is ideal but it is really hard since the capital for that business are millions or maybe billions. Also since the volatility of the coins we have a market it is risky for entrepreneurs. They may only accept Bitcoin or Ethereum possibly litecoin since it is the most established coins in the market.


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October 30, 2017, 04:02:09 AM
 #8

I think your opinion is not good for the future, as more and more hackers will appear. better one market for all transactions because it's easier
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October 30, 2017, 04:15:21 AM
 #9

Having a marketplace for buying and selling of goods that only Bitcoin is accepted as a mode of payment is a possibility in the future, but of course this marketplace should exist virtually not physically as it would defeat its use for online and hassle free transactions. A few things to consider in this marketplace of course, and what I have in mind are the following :
1. Users have a rating as a buyer and as a seller, so that other users will know who can be trustworthy to transact with.
2. Accounts must be verified and has a limit per IP address.
3. Blocking the IP address of scammers is a must.
The marketplace's reliability and reputation is what we need to protect in order for it to grow and create new consumers and producers.

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October 30, 2017, 04:34:41 AM
 #10

there are already multiple things that you may call marketplace, i still don't get which one you have in mind though.
there are centralized exchanges where you can trade cryptocurrencies with each other and with fiat. such as bitfinex and poloniex.
then there are decentralized exchanges which don't have any middle man and are safer but don't have the same features as the centralized ones.

there are markets where you can buy different stuff with bitcoin, mostly different websites each selling certain goods. there is overstock that is an online retail store. and more.
then there are decentralized marketplace called OpenBazaar that you can sell anything for bitcoin and some other altcoins like LTC and it is purely P2P.

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October 30, 2017, 04:46:40 AM
 #11

Marketplace is something that is organized by the operator.
Its a good idea but it will be little hard to confirm that the operator doesn't tend to manipulate it, because we are talking about creating market place of an economy which is seeing millions of transactions per day and thats fairly big enough to not being able to handle without being subjected to a set of rules and norms thus, its very hard to not centralize that market in one direction.
Also it will need a lot of time , efforts, a new start up idea..but it will be really a hit amongst the youth if they choose to believe in it.

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