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Question: what kind of features would you use in an auction site?  (Voting closed: February 03, 2012, 06:18:24 AM)
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Author Topic: Ebay of Bitcoin  (Read 5355 times)
ZodiacDragon84
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January 27, 2012, 06:18:24 AM
 #1

I want to invest in someone or someones to create a website that has the features and protections of Ebay, but without some of the caveats that prevent some from accepting online commerce. Oh, and it has to accept Bitcoin Smiley. Looking for someone to put a project like this on GLBSE to invest in.

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ZodiacDragon84
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January 27, 2012, 06:19:29 AM
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I would do it myself, but I have not the technical expertise to try my hand at a project of this magnitude.

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Matthew N. Wright
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January 27, 2012, 06:24:12 AM
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The DCAO has already discussed to great depths why a site like this is crucial, yet doomed to failure.

The key points are:

  • Volume
  • Volume
  • Volume


Rest assured. We could make a company, the site, and the business "thrive", but what exactly is "thrive" when bitcoin has less than 1 milliion active users? There is no point to doing it for bitcoin only, when you could just convince a company to accept bitcoin for their already accepted payment method on eBay for example.

Bottom line, reinventing the wheel is a fun adventure (I do it all the time!) but never do it as a serious business endeavor.

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January 27, 2012, 06:26:53 AM
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This could be a way, if marketed in the right circles, to get more users to use bitcoin, much as the original Ebay fostered the use of the dreaded Paypal

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January 27, 2012, 06:31:13 AM
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This could be a way, if marketed in the right circles, to get more users to use bitcoin, much as the original Ebay fostered the use of the dreaded Paypal

You're absolutely right. The marketing effort needed would be something that absolutely everyone in Bitcoin would need to be involved in though, with absolutely no guarantee of success.

Not to mention, you'd be fighting not only the giants (which are obviously way bigger and more prepared than anything we bitcoiners could make on our own from scratch), but you'd be arguing Bitcoin at the same time.

Some people might see that as a plus, but I tell you-- it's a liability.

"Use this new site! All you need to do is Bitcoi-- where are you going?"

All kidding aside, it's not a bad idea, it's just not time yet imo.

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January 27, 2012, 06:33:50 AM
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Hey, You just happen to be a bitcoin media mogul, yes? (rubs hands together plotting like)
I think that if the site were to get started, It would have to be advertised in major magazines, such as computer shopper, maximum PC, 1600, game informer, popular science and mechanics, etc. That's why investors would be needed, because all that takes money

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ZodiacDragon84
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January 27, 2012, 06:36:04 AM
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that way, we are reaching out to people of similar interests, who might be more open to try this. Teen magazines also. what teenager doesn't want to do what their friends are doing  Grin

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January 27, 2012, 06:37:04 AM
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Hey, You just happen to be a bitcoin media mogul, yes? (rubs hands together plotting like)
I think that if the site were to get started, It would have to be advertised in major magazines, such as computer shopper, maximum PC, 1600, game informer, popular science and mechanics, etc. That's why investors would be needed, because all that takes money

Here's what I can say about that.

If you want to take the responsibility, lead the team, find the resources, and make this your life from now on, always listening to criticism and doing what's best for the business, even if that means shutting down-- then even I'd be willing to follow you so long as it make sense to.

Ideas are essentially worthless though. Anyone can make anything, the question is "Who is actually going to make it?". Ebay already did. Craigslist did too. You're riding on a niche here and it might not be recognized for 5 or so years, even with mine or anyone elses' help.

If you hear all this and STILL want to proceed, I know 5 others like you who wanted to start and thought the same thing-- "If only I had the team to help me I could get this done!".

Well, you've got the team but..do you have the money to waste?

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January 27, 2012, 06:43:51 AM
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I hear ya boss, not wanting to step on toes. I'm doing research at this stage. that is all

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January 27, 2012, 07:01:52 AM
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I hear ya boss, not wanting to step on toes. I'm doing research at this stage. that is all

For the record, I chose "yes" in the poll.

I've seen Bitpond and others try their hand at this thinking it would be a magnificent opportunity that everyone else is wasting. Unfortunately, inactivity towards an opportunity is sometimes better for the opportunity than improper action towards it. Look at every exchange, store, etc that pops up every week. If you put those guys together in a room and stripped their greed and infatuation with being important away, you'd have the makings of a world changing initiative and a potentially globally recognized business in some cases.

I do agree with asking questions, and I do admit that I am not capable of appreciating and understanding everything about every idea that I come across, but actions speak much louder than words. Make a site first and see if it gets any attention or support. If it does, you can gauge your investment in it off of that. Word of advice though, give it your all on that first try but never give more than you can afford to. A successful businessman for example, is not someone who makes a single successful business-- it's someone who can walk away from 100 failed businesses unscathed.

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January 27, 2012, 07:31:33 PM
 #11

Edison couldn't of said it better. I understand precisely what you mean. I plan on doing a weekly poll until I get enough Info to go further with things. In all things, patience is a virtue

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January 27, 2012, 11:09:00 PM
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I agree with Matthew, we should all avoid reinventing any wheels in the Project Development section.

That will not draw new users to Bitcoin, features and new functionality will.

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January 27, 2012, 11:56:12 PM
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im surprised no one has mentioned http://bitmit.net  its a ebay of bitcoin

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January 27, 2012, 11:58:53 PM
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im surprised no one has mentioned http://bitmit.net  its a ebay of bitcoin

I have checked it out actually, but it needs work. need a lot more users. and as I have mentioned, just doing some research / market studies if you will.

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January 28, 2012, 12:20:42 AM
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im surprised no one has mentioned http://bitmit.net  its a ebay of bitcoin

I'm sorry, but if that's the "eBay of Bitcoin", then Bitcoin is completely worthless.

Are you aware of how successful eBay is?

ZodiacDragon84
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January 28, 2012, 12:27:23 AM
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I was trying to be very polite

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January 28, 2012, 12:43:18 AM
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I was trying to be very polite
hehe. Let me be rude then.

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January 28, 2012, 02:34:34 AM
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im surprised no one has mentioned http://bitmit.net  its a ebay of bitcoin

I'm sorry, but if that's the "eBay of Bitcoin", then Bitcoin is completely worthless.

Are you aware of how successful eBay is?

I agree with you actually I was working on a ebay/amazon type site for bitcoin but shit happens and I got distracted. Plus i wasn't too sure how popular it would actually be because most people just use a service like spendbitcoins to buy stuff from amazon and ebay and theres a much much larger choice of items than some site thats just starting off... one thing that a site like this has going for it is low seller fees ebay charges like 10% + listing fees and amazon charges around 10-25% fees depending on what category your item is in.

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January 28, 2012, 02:43:50 AM
 #19

this is true. I was thinkin same model ebay uses. Have the auction site, but have payment through a paypal like clearing house that uses bitcoin. And keep fees managable for sales, none of this crazy percentage crap those guys are charging. I was thinking ~1-3% Fees Btc on selling. Maximum.

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Matthew N. Wright
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January 28, 2012, 02:51:27 AM
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I was working on a ebay/amazon type site for bitcoin

I was thinkin same model ebay uses.

You two have something to talk about it seems.


Have the auction site, but have payment through a paypal like clearing house that uses bitcoin.

bit-pay.com?

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