Bitcoin Forum
December 11, 2016, 02:15:48 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Ebay Stores Competitor using Bitcoin Payment  (Read 2471 times)
FreeTrade
Hero Member
*****
Offline Offline

Activity: 854



View Profile
September 22, 2011, 08:25:04 AM
 #1

I've posted in another thread, but probably better to keep any discussion of this idea in its own thread. Sorry for the dupe but - Here's a reminder

The problem is, bitcoin price has been so volatile that what you bid 7 days ago could end up being twice the amount of purchasing power you intended to bid.

At least for now, a bitcoin ebay-like site should have auctions listed in USD (or some other mostly stable fiat currency), then grab the current MtGox trading price as soon as the auction ends and have that be the actual dollar amount the buyer owes.

This is quite right!
I think there's a good opportunity for a eBay competitor but it needs to have the right features in order gain momentum.

1. Listings in USD as explained above
2. No auctions to begin with - just Buy It Now Prices (more like eBay Stores)
3. Closely tied to a reputation system (Maybe the OTC rating system)
4. Immediate option to clear to bank account for merchants (Using AutoMtGox or similar)
5. No (or very, very minimal to discourage spam) listing fees (maybe none to start with)

I think this kind of site is an important strategic resource for the BTC community - we all have an interest in something like this becoming successful. For two reasons -

1. The Ebay-Paypal company has close to a monopoly and will never accept payments in BTC because it is an existential threat to Paypal.
2. Selling some old books, cds, dvds or junk in your garage is a great way for new users to get some BTC and start participating. It can also be largely anonymous for them which might be important depending on how they want to spend their BTC.

The main problem to overcome is the chicken-egg problem. You'll see most of the existing sites don't have many listings because they don't have many customers, and don't have many customers because they don't have many listings.

I have some good ideas for overcoming the chicken-egg problem, and I'm interested in talking to interested parties and partners with a view to launching such a competitor. I'm a developer with time and capital, ideal partners therefore are people who understand the potential of BTC and

1. Existing eBay merchants with large inventories in existing databases
2. Existing auction site owners (especially BTC the accepting ones above)
3. Persons experienced in SEO / Web Marketing
4. People with a strategic interest in Bitcoin (large holders, miners, business owners)

However I'll talk to anyone who thinks they have something to bring to the party.

The internet is freedom to communicate without permission. Crypto is freedom to trade without permission.

HODLCoin ANN - Interest rate 0.000015% per block for every balance. Term Deposit Rate 2500% - http://hodlcoin.com/
1481422548
Hero Member
*
Offline Offline

Posts: 1481422548

View Profile Personal Message (Offline)

Ignore
1481422548
Reply with quote  #2

1481422548
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Dansker
Hero Member
*****
Offline Offline

Activity: 740


Hello world!


View Profile
September 23, 2011, 06:46:43 PM
 #2

There are already lots of bitcoin auction sites...

Bitbird
Full Member
***
Offline Offline

Activity: 233



View Profile WWW
September 26, 2011, 05:07:56 PM
 #3

There might has another way/system which could let us buy any goods from any online stores (Amazon, ebay.. etc.) by Bitcoin, provided these stores allowed co-/bot-IDs? (This could be a first big problem..)

FreeTrade
Hero Member
*****
Offline Offline

Activity: 854



View Profile
September 27, 2011, 08:22:42 AM
 #4

I think there are some sites that will already place an order for you on Amazon if you send them the BTC for your order.

This idea has a different emphasis - It's difficult for new users to acquire bitcoin.  This idea is about making it easy for people to sell their old items, thus gaining some BTC.

The internet is freedom to communicate without permission. Crypto is freedom to trade without permission.

HODLCoin ANN - Interest rate 0.000015% per block for every balance. Term Deposit Rate 2500% - http://hodlcoin.com/
freecoin
Jr. Member
*
Offline Offline

Activity: 31


View Profile
October 09, 2011, 04:41:41 AM
 #5

freetrade, I'm with you on this.  Bitcoin miner since 2010. We definitely need another auction/trading site accepting bitcoin.  I've bought & sold on eBay since '98 - familiar with most of the horror stories.  As for BiddingPond, I really wanted it to work but it appears near dead, and my one negative experience there (scammed by a 0 feedback seller) leaves a bad aftertaste.

How about a site that accepts payment in anything EXCEPT Paypal?
 Grin
TyGrr
Jr. Member
*
Offline Offline

Activity: 42



View Profile
October 09, 2011, 09:41:22 AM
 #6

i support this esp if it has a rating system, im willing to help where i can
adamstgBit
Legendary
*
Offline Offline

Activity: 1904


Trusted Bitcoiner


View Profile WWW
November 17, 2011, 06:59:55 AM
 #7

I think there are some sites that will already place an order for you on Amazon if you send them the BTC for your order.

This idea has a different emphasis - It's difficult for new users to acquire bitcoin.  This idea is about making it easy for people to sell their old items, thus gaining some BTC.

gr8 idea, but their are many sites that offer this service

check out the complete list
http://www.thebitcoinreview.com/sites.php?catid=4&subcatid=26

make a better implementation and corner the market!

FreeTrade
Hero Member
*****
Offline Offline

Activity: 854



View Profile
November 17, 2011, 07:08:25 AM
 #8


gr8 idea, but their are many sites that offer this service


Understood! It's not a hugely original idea - but I'll have something to show pretty soon, and I think you'll see this is the first time it has been done properly!

It's all about the execution with these kinds of things.

The internet is freedom to communicate without permission. Crypto is freedom to trade without permission.

HODLCoin ANN - Interest rate 0.000015% per block for every balance. Term Deposit Rate 2500% - http://hodlcoin.com/
finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
November 17, 2011, 07:13:02 AM
 #9

If Bitcoin is a better money, this should be more sucessful than Ebay. 

Watching.

FreeTrade
Hero Member
*****
Offline Offline

Activity: 854



View Profile
November 17, 2011, 07:28:49 AM
 #10

If Bitcoin is a better money, this should be more sucessful than Ebay.  

Watching.

Hehe, that's a pretty big act to follow!

The thing is that the Ebay-Paypal Corporation has a huge network effect, so it made it impossible for competitors to catch them (even with a better, or cheaper system) or even compete over the past decade.

Anyway, thinking about it, while competing with Ebay is a property of this system, it is not the main goal, but rather I want to make it easy and fair for people to buy and sell their things with Bitcoin.
 

The internet is freedom to communicate without permission. Crypto is freedom to trade without permission.

HODLCoin ANN - Interest rate 0.000015% per block for every balance. Term Deposit Rate 2500% - http://hodlcoin.com/
tosaki
Sr. Member
****
Offline Offline

Activity: 407



View Profile
November 17, 2011, 02:36:57 PM
 #11

Let me introduce my project.. Smiley



On http://en.bitmit.net you can

- Buy and sell items for bitcoin
- Couple your price to usd/eur
---> Auction: Bid in usd/eur (conversion to BTC on auction end) OR btc (seller decides)
---> Buy now: Couple btc price to usd/eur (mtgox vwap) OR use a fix btc value (seller decides)

More features:
- integrated escrow
- optional id verification (online banking, paypal, passport)
- rating system
- online wallet

Currently no fees
FreeTrade
Hero Member
*****
Offline Offline

Activity: 854



View Profile
November 17, 2011, 02:59:11 PM
 #12

Let me introduce my project.. Smiley



On http://en.bitmit.net you can

- Buy and sell items for bitcoin
- Couple your price to usd/eur
---> Auction: Bid in usd/eur (conversion to BTC on auction end) OR btc (seller decides)
---> Buy now: Couple btc price to usd/eur (mtgox vwap) OR use a fix btc value (seller decides)

More features:
- integrated escrow
- optional id verification (online banking, paypal, passport)
- rating system
- online wallet

Currently no fees

Nice Work! Clearly there's going to be a few of us. Smiley
 

The internet is freedom to communicate without permission. Crypto is freedom to trade without permission.

HODLCoin ANN - Interest rate 0.000015% per block for every balance. Term Deposit Rate 2500% - http://hodlcoin.com/
bitfoo
Donator
Sr. Member
*
Offline Offline

Activity: 289



View Profile
November 17, 2011, 03:25:11 PM
 #13

I think "hedged escrow" is a much needed option for such websites to gain acceptance, with BTC fluctuating like it is right now. It would remove the sellers' risk of holding BTC for the duration of the transaction. I know of at least one bitcoin marketplace that already does this, quite successfully. One simple way to do this would be to sell the escrowed coins on mtgox, and buy back coins later when the funds are released.

mokimarket
Sr. Member
****
Offline Offline

Activity: 322


View Profile WWW
November 17, 2011, 06:51:07 PM
 #14

Mokimarket.com is a penny auction site that accepts bitcoins!

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!