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Author Topic: Openbazaar needs your support  (Read 516 times)
Carlton Banks
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October 08, 2020, 07:30:50 AM
Last edit: October 08, 2020, 08:09:04 AM by Carlton Banks
 #61

People WILL USE Bitcoins if it is completely necessary.

Of course but they will do their very best to resist and find alternatives to use until the completely necessary moment arrives. That doesn't make for a very vibrant user base. And it also chucks most discretionary purchases out the window. You will simply go without.


Because of opportunity cost.

BUT, if you're a heroine user, who wants to purchase heroine from the dark markets, OR a battered wife, who wants to "hire someone", the most efficient way to do it is through Bitcoin.

The point is about finding efficiency. The bank won't serve the dark markets, then Bitcoin will make that market more efficient.

(desperately avaricious) people have been making this nonsense claim for quite some time, the user you're replying to says this at every opportunity. I once considered BTC only as a way of making fiat profits: for a maximum of 6-10 weeks, back in 2011. The difference came from educating myself about Bitcoin (I started that process here on bitcointalk.org Smiley), and the surrounding economic issues as a whole. Not everyone does this, but they stand to lose, so this is self-correcting (in the meritocratic sense)  


Simply, the exchange rate of any medium of exchange has more dimensions than the order book of the public exchanges; velocity of use in trade feed into both the demand and (particularly) the supply side, and so are equally important. Other factors no doubt affect the exchange rate also, but if you look at it through a market trader's eyes, you only see 1 dimension.

There isn't a particular problem if you treat BTC as a savings vehicle, or as one for spending. If you are confident that BTC can be either, you will dump any fiat income you don't need, and support the BTC denominated economy. Not everyone is so confident however, and I think it's simply down to a lack of comprehension

I think the only conclusion is that if buy-low/sell-high is your investment philosophy, you will indeed end up with a huge amount of fiat currency, and some small slither of BTC when all is said and done. I hope such people will be happy with the outcome. I prefer to buy-BTC/sell-fiat at ANY price, and use the currency I think is best at every opportunity (this means using the currency that's best for me AND the person I'm trading with). This actually makes everyone better off, including (ironically) the BTC price for those using the buy-low/sell-high strategy (as they see Bitcoin only as a speculative prospect)

Vires in numeris
stompix
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October 09, 2020, 12:16:26 PM
 #62

I don't see tokens as negative if there's really a clear for-profit business model behind them. Then, it's simply a way of crowdfunding, or a replacement of a typical loan.

If they indeed have a solid plan behind it, yeah I tend to not throw monkey poo at them from the first step but I dislike tokens that start as crowdfunding when the business behind it is just an idea and they have zero real-life activity other that whitepapers and dreams.
From my point of view, every token or coin that does the same thing as others with zero improvements or who's role can be taken over by one hundred other tokens is useless and even the company behind it will drop it in the end and that's why I said we don't need shitty tokens with limited roles like paying for car sharing, for example, a few months ago I stumbled upon one of my older posts with a list of those tokens, and all of them, all are dead now without one managing to do one single travel.

But OB isn't really for-profit ... you could imagine some profitable services attached to it, but for that justifying a token or any mass participation in financing, it would have to be much bigger, I would even say it would have to compete with eBay/Amazon for a token to make sense.

The moment they start doing it for profit, let's say "services attached to it", to be honest I can't really picture how those would work and so on, but at this point, it will start getting a lot less decentralized in my opinion. You will have a company running a free market but attaching other paid services to it, some that might even collide with the interest of the sellers there, I can smell amazon marketplace here, and no..just no

Yep, true. There are ways out of that dilemma however, for example communication/"marketing" efforts could be concentrated to places with a high "Bitcoiner" population where it may be easier to reach a critical mass. Another example could be plugins for shop software which automate the creation of an OpenBazaar shop without much additional effort for the merchant. OpenBazaar would then work as a kind of aggregator for independent merchant sites, providing a common user experience.

I'm skeptical about this.
The electric car dilemma was solved with subsidies, tons of money, and with tons of money you can save even openbazaar, but without unlimited funds and discounts, you need a product that is ....needed.
And now, we're back to three pages ago, who or rather how many of the people owning crypto are interested not only in purchasing stuff with their coins but do so through this., and the numbers are small, trust me, pretty damn small.

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d5000
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October 09, 2020, 06:25:04 PM
Last edit: October 09, 2020, 08:01:36 PM by d5000
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 #63

If they indeed have a solid plan behind it, yeah I tend to not throw monkey poo at them from the first step but I dislike tokens that start as crowdfunding when the business behind it is just an idea and they have zero real-life activity other that whitepapers and dreams.
Agree. Some work must be done before.
Quote
From my point of view, every token or coin that does the same thing as others with zero improvements or who's role can be taken over by one hundred other tokens is useless[...]
This again depends on what the token is meant to be exactly. If a token is a replacement for a loan or Kickstarter campaign, and not "the next bitcoin1!!!!" , then there can be multiple tokens of a single kind. In the case of small businesses (or single freelance artists, for example) it may however be better to try to crowdfund direct in Bitcoin or another established cryptocurrency (which will also mean less regulatory hassle).

The moment they start doing it for profit [...] it will start getting a lot less decentralized in my opinion. You will have a company running a free market but attaching other paid services to it, some that might even collide with the interest of the sellers there, I can smell amazon marketplace here, and no..just no
If it's done well it is possible - take Linux or even Bitcoin as examples where a for-profit company finances the development of a free, open source/P2P software solution without introducing hassle for the users (the Bitcoin Cash fanclub may disagree with that but I don't care Tongue).

And as OpenBazaar is P2P and open source, if OB1 decided to introduce services colliding with the interests of the users/sellers, very likely a fork would appear and become more popular. So no, they would always have an incentive to not do that.

The problem of OB1 as for-profit is more related to the current size of the market. So my recommendation would be to continue OpenBazaar as a non-profit, but accepting donations if necessary. The problem might be that the venture capital investors would want to see some return, so it might even be needed to go into insolvency and start a new nonprofit project, e.g. a foundation. That would not affect the platform itself, only OB1 as a company, as OpenBazaar runs mostly independent from OB1.

The electric car dilemma was solved with subsidies, tons of money, and with tons of money you can save even openbazaar, but without unlimited funds and discounts, you need a product that is ....needed.
Well, electric cars imo are a bad example to compare to OpenBazaar, because it's a technology which needs huge investments in infrastructure.

OpenBazaar doesn't need as much money as that. As a platform, it is more similar to something like BitTorrent. It could work even if only a very small subset of e-commerce, or a part of e-commerce in a region (take countries with severe currency instability like Venezuela), would use it.

And now, we're back to three pages ago, who or rather how many of the people owning crypto are interested not only in purchasing stuff with their coins but do so through this., and the numbers are small, trust me, pretty damn small.
One thought about that: the hassle to cash out Bitcoins (e.g. due to stricter AML measures) is increasing, and so I guess it will become progressively more attractive to use Bitcoins to purchase goods instead.

Is there any news from them? Has something changed? Or will they be closed forever?
OpenBazaar cannot be "closed" as it's a P2P app. And OB1 (the company needing support) found a donor (some pages ago) to finance the next months.

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