Do we need a global virtual marketplace for cryptocurrencies?

[Tonnakyray_21]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

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[magneto]

You mean a marketplace for goods?

I mean, a decentralised marketplace has been something that a lot of people have been looking at recently, but honestly, I still don't think that this type of marketplace will necessarily be able to be practically implemented in the near future.

In one way or another, intermediaries are still needed at this stage to resolve conflicts between counterparties. What if goods and services don't get delivered? That's why right now I think decentralisastion of the monetary supply makes more sense than decentralising the process of purchasing goods, at least in practical terms.

Decentralised exchanges are also possible, but then again, not a lot of volume is being generated on these platforms right now as there isn't really any cross-currency transactions available.

[hugeblack]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

The term decentralization in goods and services means that these goods and shops are not confined to a specific area or subject to certain laws as is happening now "many countries are subject to economic sanctions for illogical reasons."

Markets cannot be decentralized without supervision or subject to authority to settle disputes, but funds can be paid without the need for a credible third party.

cryptocurrencies can open up new markets "in Africa " for cheap products and give people financial freedom. But when we talk about trade exchanges, these currencies are not important because regulatory forces are needed before that.

In short, cryptos will benefit from exploring new markets but will not help eliminate the problem of trust.

[cryptocrusher]

It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.

[dothebeats]

Like OpenBazaar? It already exists, but it hasn't gotten any significant attention from the merchants that's why there literally is no volume whatsoever for their platform. Also, trust is still an important factor that people look at when buying things online, that's why they want to ensure that someone can be held liable if their purchases turned out to be bad or not matching their expectations, otherwise they will look for other places to spend their money.

If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.

[cabron]

There had been lots of attempt to create a marketplace, some even did an ICO for this project. None of them were successful as of now due to the fact that both parties can scam each.

Like OpenBazaar? It already exists, but it hasn't gotten any significant attention from the merchants that's why there literally is no volume whatsoever for their platform. Also, trust is still an important factor that people look at when buying things online, that's why they want to ensure that someone can be held liable if their purchases turned out to be bad or not matching their expectations, otherwise they will look for other places to spend their money.

If exchanges is what you're after, there aren't any promising decentralized exchanges for cryptocurrency elsewhere, or I am not looking enough to find one that fits the bill.

Nothing serious happening about openbazaar, I did create an account on it 2 years ago It looks very new up to now. I can't even find a merchant near my area.

[b3llsf1l3s]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

in my opinion, what is needed now is a marketplace that has a place in the real world. This of course can change the crypto point of view. Maybe the marketplace will be like an ATM machine, making it easier for us to access when we need it. Current transaction costs will be difficult to avoid from low-cost to free because after all there are parties who need costs as maintenance of the system

[kryptqnick]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

You are saying there will be no intermediaries, but the marketplace itself will most likely be this third party that will also get some revenue out of it. It's a bit hard to understand what you mean here. Are you talking about a global exchange of some sort that will be decentralized? Well, there are some projects of decentralized exchanges, but I am not sure how they work and whether they make sense. The most decentralized thing to do is to send cryptos to others and receive some cryptos from them directly through blockchains. However, this requires knowing those people and probably the usage of wallet companies which kind of are intermediaries already.

[avikz]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

The question itself is self contradictory. Global marketplace and decentralization doesn't really go along. There has to be a platform which needs to be run by an authority to maintain the daily operations. Otherwise, it will become the heaven for scammers!

We already have a lot of exchanges in the market where the fees are quite low which won't pinch your pocket! Also we have platforms like localbitcoins and paxful for crypto to fiat transactions. These are not decentralized but does the required job smoothly!

[serjent05]

It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.

Agree here. And the question also is, if ever there will be, will it not create doubts in the part of the traders if the platform is totally free and decentralized? If some problem occur, misunderstanding or even a very slight mistake happens, it will be like groping into the dark and one must be ready to say goodbye to his good. 

[ATMD]

It's only possible at the highest level of decentralization which is very difficult to achieve because there almost always has to be someone behind every platform. There are as of yet no exchanges that come close to true decentralization and I doubt there ever will be.

I agree, there has to be someone liable and responsible behind every platform so that end users can trust it.

[cetald]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

Decentralized exchanges partially solve this issue. But most traders and investors prefer centralized exchanges. I think it is temporary

[gegewojinnian18]

Of course, a virtual market is needed. This is the future direction of development. More free money is suitable for circulation around the world. If a government-manipulated coin circulation will have the same consequences as the US dollar, they can freely weaken the economic ability of trading partners through the US dollar. .

[tenebriscaelum]

You mean a marketplace for goods?

I mean, a decentralised marketplace has been something that a lot of people have been looking at recently, but honestly, I still don't think that this type of marketplace will necessarily be able to be practically implemented in the near future.

In one way or another, intermediaries are still needed at this stage to resolve conflicts between counterparties. What if goods and services don't get delivered? That's why right now I think decentralisastion of the monetary supply makes more sense than decentralising the process of purchasing goods, at least in practical terms.

Decentralised exchanges are also possible, but then again, not a lot of volume is being generated on these platforms right now as there isn't really any cross-currency transactions available.

That is true if the market place is not regulated properly many fraudulent and scam transaction for goods will happen and even with regulators there will still be this kin of activities that might happen. Also there is also a problem about what kinds of good the market place will offer because if people will just put goods in it there might be a chance that some items that are not appropriate or needs proper license to be sold in it.

[timerland]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

I think there are several that are already trying to make this happen. But none yet that is noticeable enough that people can actually use in order to substitute a central marketplace. Also, I believe that decentralizing the market, and decentralizing the middleman (or just completely eliminating it) are two different things.

To be honest, I don't think that such a middleman-less marketplace is needed right now. There are p2p sites for advertising, like Craigslist, but I wouldn't say that constitutes a "marketplace".

What matters most is the cryptocurrencies themselves staying without a central entity, which is something that we're seeing people are shifting away from. If the crypto itself and the money creation process, and the transaction settlement process isn't decentralized, then there isn't really any point in trying to decentralize marketplaces.

[adzino]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

So, you mean we need to have a peer to peer marketplace for crypto currencies without any third parties being involved? Well, everything is fine but trust is going to be a huge issue. No one will be willing to initiate the transaction first. People will try to scam each other since the marketplace will be decentralized. Once you get scammed, there will be nothing you can do at all. We can have a global market, but unfortunately we will be needing a third party that will act as a middle man to help making transactions between users.

[imToken]

This is the product that the world needs in the future. This will not be a problem. Some projects in the future need to survive in a more liberal way, and global cryptocurrencies will be used by international companies. This is definitely the future.

[batang_bitcoin]

I think there are already existing like this. You already said the benefits for this type of marketplace and that's no/low fee but there are some concerns that you should consider for this type of marketplace. If there's no one that will manage to regulate it, like they said the most concern for this are the rotation of scams. They are free to move on this marketplace and probably can get a lot of victims that will never see justice for what they do.

[Findingnemo]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

Virtual market place means? We have this forum where we can contact them directly for buying any goods and lots of websites to contact anyone for trading so we are already have it right?

But even when we have decentralized cryptos we are not making any thing useful for now other than speculating it.

[coinplus]

I think that we should have a global virtual marketplace for cryptocurrencies without any intermediaries. This would lower the costs of transactions and decentralize the market. What do you think? Is that possible? What are the benefits?

There are some places like that, first of all the darknet was all about that. There were places like silkroad that basically created a virtual market place that you can pay with bitcoin.

Since, it was on darknet and it was with bitcoin it all turned into drug dealers paradise but that wasn't the only thing that was sold there. After all of that was over there was a decentralized marketplace (I forgot the name) that you downloaded to your computer and everyone who had that became the marketplace, just like bitcoin network.

You could sell anything there from virtual goods to regular goods, I once saw a very very cheap cigar collection and I was really tempted but couldn't trust neither the seller nor was I sure if it would be a problem at the border. There is also bitify or something which is online and basically ebay for bitcoin, it has everything you ask for as well.