[ANN] [ICO] Ethbay - A decentralized marketplace that uses Ethereum for payment

[EthbayICO]

Ethbay aims to become the the eBay of Ethereum with an Ethereum based decentralized peer to peer marketplace. With Ethbay, users can buy and sell anything using Ethereum as opposed to the regular fiat currencies accepted on standard marketplaces. It is one of the first truly anonymous marketplaces in existence. Users are not required to provide any personal information when signing up. Transactions are protected under an ultra secure Ethereum smart contract escrow to keep both the buyer and the seller safe. Ethbay also offers its service at a significantly reduced fee over other competitors. A low 1% fee is charged on the funds a seller receives when they make a sale as opposed to many popular marketplaces such as eBay and amazon who charge 10-15% fees to the seller. Ethbay also eliminates listing fees that many competitors charge. Fees are only charged when an item sells. A dispute resolution system will also be in place to quickly and easily resolve any disputes that may arise between buyers and sellers.

Ethbay is an Ethereum based ERC20 token. Investors will receive 5,000 Ethbay (EBAY) tokens for every 1 ETH they contribute, with up to a 25% bonus offered for early investors. There are a total of 100 million tokens in existence with up to 80 million tokens available for sale during the ICO. Token holders receive a proportional share of the profits generated by the platform paid to them in Ethereum on a monthly basis. Token holders will also have voting rights on site proposals and can submit their own proposals if they hold at least 200,000 EBAY tokens.

The ICO will begin on June 7 and will conclude on August 7. For more information, please visit our website at www.ethbay.co

[DamCryp]

interesting project... do you guys have any demo or mvp? would really like to look at this more in depth... how many memembers compose the team? Are you guys actively looking for partners? Members or others? Would be cool to hear back.

[EthbayICO]

interesting project... do you guys have any demo or mvp? would really like to look at this more in depth... how many memembers compose the team? Are you guys actively looking for partners? Members or others? Would be cool to hear back.

We are actually working on a demo right now. As of this moment it has not yet been released. In total we currently have 24 team members. We're always open to the possibility of adding new partners to our team.

[EthbayICO]

We're currently doing some renovation to our website to improve visual appeal and usability. If you're viewing the site and notice anything out of place or anything that appears confusing, this is why. We anticipate our renovation to be complete within the next week or so and then the site will back to normal and better than ever.

[EthbayICO]

Renovation to the new Ethbay site is almost complete! The final step we're working on is writing an HTML script to be able to display our smart contract on our website (currently we have a sample smart contract displaying as a placeholder). Other than that the new Ethbay site is up and running!

[Altcoinalerts]

Ethbay ICO listed on AltcoinAlerts.com

http://altcoinalerts.com/ico/ethbay-ico/

[EthbayICO]

HTML Script is complete and our smart contract is now displaying on our website! So our new website is now completely up and running!

[EthbayICO]

Ethbay is now on an https URL. New URL: https://www.ethbay.co

[Neurocrypt]

This looks good however there are thousands of crypto payment please how is Ethbay different?

[EthbayICO]

This looks good however there are thousands of crypto payment please how is Ethbay different?

Of course! We understand the large amount of competition currently in the cryptocurrency space.

One major feature our platform offers is complete anonymity with no personal information required to register on or to use the site. Since other marketplaces require at least some personal information to be able to register. Even if it's just an email address. This also includes an encrypted messaging system to be able to communicate with other users with complete privacy.

Many other marketplaces such as Bitbay also require the usage of the platform's own cryptocurrency to be able to make purchases on the site. While we do plan to implement the acceptance of Ethbay tokens for purchases on our platform, we also want to provide a space that makes cryptocurrency in general a more usable form of money. Since a common complaint is that cryptocurrency can't be used to buy much since most places don't accept it. Obviously, some other marketplaces do accept other cryptocurrency which I will cover in this next point:

Other marketplaces generally only accept bitcoin or in rare cases a couple other cryptocurrencies. While Ethbay is an Ethereum marketplace, we will have a built in exchange service to accept almost any cryptocurrency when making purchases that will quickly and easily be exchanged for Ethereum when transferring the funds to the seller. We currently estimate that about 80% of all cryptocurrencies will qualify for the exchange service. The other 20% are cryptocurrencies with especially low trading volumes that would be difficult to quickly exchange so these would not qualify for this service. There will be a small fee charged to use this exchange service that will be shared with token holders in addition to the 1% transaction fees.

In addition, other marketplaces generally only focus on the ability to buy and sell goods. Ethbay also wants to offer the ability to buy and sell services (like a decentralized fiverr) with a platform feature called Ethbay Services. As well the ability to transact locally using Ethereum as a base currency with another platform feature called Ethbay Classifieds. Just like with the buying and selling of goods, this service will significantly reduce fees normally charged when buying and selling services since fiverr charges a 5% fee to the buyer and a whopping 20% fee to the seller. Our built in cryptocurrency exchange can also be used to make purchases on both of these other platform features although Ethereum will remain as the base currency.

For people who wish to use the platform but don't own any cryptocurrency due to the high barriers of entry currently present to enter the cryptocurrency space, we have that covered as well. We plan to offer an easy to use fiat exchange to quickly buy Ethereum with fiat to use on the platform. We are experimenting with ways to offer this service in a secure manner without requiring any identity documents to use it (again the anonymity feature). Again, a small fee will be charged to use this service that will be shared with token holders.

This is not intended as an exhaustive list of differences between Ethbay and other competitors but just highlights a few major differences.

[EthbayICO]

We recently noticed an issue with the whitepaper link on our website after the switch to an https URL. This issue has now been corrected and the link to load the whitepaper works again.

[dulenziya]

Great project! I was wondering: Do you offer any sort of purchase protections after a transaction is finalized? For example, a buyer orders an expensive item. Buyer receives it and everything looks good so escrow is released. They later find out the item is fake and want a refund. Is there any sort of dispute process for a scenario like this?

[EthbayICO]

Great project! I was wondering: Do you offer any sort of purchase protections after a transaction is finalized? For example, a buyer orders an expensive item. Buyer receives it and everything looks good so escrow is released. They later find out the item is fake and want a refund. Is there any sort of dispute process for a scenario like this?

We certainly understand how this could become an issue at times. We don't want to provide any unnecessary delays in funds being released to the seller, since a common complaint from other centralized marketplaces is that sellers funds are held for long periods of time. And these long holds make sellers not want to use the services of these sites in many cases. Therefore, we encourage buyers to ensure that what they receive is as advertised (including authentication of goods if necessary) before releasing the escrow to the seller. For new sellers, or for sellers with lower feedback ratings, we are contemplating adding a delay time of somewhere between a few days and a week from when escrow is released to when the seller actually receives the funds. As an extra precaution to protect buyers in case an issue like this arises.

In the event the funds have already been released to the seller but the buyer can provide proof that the goods or services they received are not as advertised, the buyer still has a right to open a dispute and have it adjudicated in their favor. After which we can ask the seller to accept a return of the merchandise in exchange for a refund. If the seller were to not comply, their account would be suspended. It is important to note that if the funds have already been released to the seller, buyers will have a higher burden of proof in order to have a dispute decided in their favor. Because we don't want to unfairly force sellers to provide refunds if the funds have already been released to them and the transaction is finalized. How we handle this type of issue may also be addressed by our voting system. Where the token holders can vote on how they feel this particular issue should be handled. If users feel our method of handling this situation could be improved.

[EthbayICO]

The ticker symbol of our token has been changed from EBAY to EBY to resolve concerns over possible trademark issues with the company eBay Inc.

[EthbayICO]

Only 30 more days until the ICO starts!

[EthbayICO]

Hi, I would like to invite you to list your ICO for free on www.InitialCoinList.com, your ICO will be shared with our 1700+ FB followers.

If you have any question, please DM me.

Thank you

Thanks for sharing this! We have submitted our listing to your website

[EthbayICO]

There is an error in the countdown timer on our website counting down to the ICO start that we are currently investigating. So the countdown time displayed on the site currently is NOT accurate. The ICO will still begin on June 7 at 10:00 AM UTC as indicated but the days/hours/minutes/seconds time is currently off and we are working to fix this issue.

[EthbayICO]

We've installed a new countdown timer that now displays the correct countdown time on the site.

[EthbayICO]

Only 3 weeks until the ICO starts!

[123ltg]

ANY Bounty?