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coinbay.org
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August 22, 2014, 12:42:57 AM
Last edit: August 22, 2014, 03:08:39 PM by coinbay.org
 #1

Looking for some people to give me ideas and features for an upcoming Bitcoin 'eBay' site, where you can buy and sell your products. This site will be fully automatic and will allow you to trade with users in a safe environment, without the hassle of chargebacks and restriction like eBay does.

Current features done or being made are:

- Escrow system (with disputing)
- Category based products
- Feature product for extra price (on homepage)
- Basic account features
- Deposit/Withdraw from Balance (like PayPal)
- Social Sign up (Facebook, Google?)

Fees:

I'm not making this site with profit in mind, but I want to earn some money to pay the work and the servers. I was thinking about the following "schemes":

* Percentage Fee deducted when seller receives profit from a sale
* Percentage Fee deducted when seller withdraws money from his account
* No fee, site runs on ad revenue.

If you prefer the fee based scheme, please tell me what % I should charge.

I'm glad to hear your suggestions. And let me know if you have any questions  Smiley
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August 22, 2014, 02:51:01 AM
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Maybe a very small % per sale or less is ok, I believe it is what cryptothrift has. I don't know what improvements do you have over cryptothrift because your website is not loading.


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gordoh
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August 22, 2014, 09:10:47 AM
 #3

This threads title threw me off. Its supposed to be CoinBay.org
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August 22, 2014, 09:32:11 AM
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I like the idea for a BTC based eBay on face value. As a BTC user and enthusiast, I foresee your problem being in variety which is what people will undoubtedly complain about especially when you are held in the light of eBay as a competitor. I'm a marketing guy and I've lurked a lot on BF but until a prospective client said I didn't have enough posts on BF to help his project, I didn't realize how valuable my voice is. Sort of brag side rant, but just explaining my low post number and old account.

Any mechanism you can embed in the site that incentivizes adoption or listing items would help your site scale and add users fast. For example, instead of charging fees for listing an item, make it either a fee or an amount of marketing work. For example, many sites give out affiliate offers for all of their users. LocalBitcoins is a great example. Their problem is that the reward for sharing the link is too low. If you gave users one free item listed for each person that clicks their link (up to the first 10 maybe) and then say 10 free items listed for each 1 successful referral. Then there can be an option to pay to list an item. I would recommend .001 BTC or so (something so nominal that it's just a place holder for a slightly larger fee as you need to scale). By setting the cost of listing so low, people won't feel disinclined to list. Not having enough listed items and by extension not having enough users period will make it extremely hard for a budding marketplace site to thrive and grow.

For someone to shop a store that deals entirely in second-hand goods, that store has to have variety and bulk supply.

Another point and I'll take a breather: Having amazing on-site SEO is going to help you get indexed and thereby bring in more users.

TL:DR- Heavily incentivize sharing & listing.
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August 22, 2014, 10:01:28 AM
 #5

Coinbay.org is under development, please check later.
Contact us at contact@coinbay.org

Vericoins Here = VXCBhfbtwJDxnnQQRpUcpKKMwcsVGsT1AJ
LetsTalkBitcoin: http://ecoinincome.com.au/LetsTalkBitCoin.php
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August 22, 2014, 02:02:41 PM
 #6

I like the idea for a BTC based eBay on face value. As a BTC user and enthusiast, I foresee your problem being in variety which is what people will undoubtedly complain about especially when you are held in the light of eBay as a competitor. I'm a marketing guy and I've lurked a lot on BF but until a prospective client said I didn't have enough posts on BF to help his project, I didn't realize how valuable my voice is. Sort of brag side rant, but just explaining my low post number and old account.

Any mechanism you can embed in the site that incentivizes adoption or listing items would help your site scale and add users fast. For example, instead of charging fees for listing an item, make it either a fee or an amount of marketing work. For example, many sites give out affiliate offers for all of their users. LocalBitcoins is a great example. Their problem is that the reward for sharing the link is too low. If you gave users one free item listed for each person that clicks their link (up to the first 10 maybe) and then say 10 free items listed for each 1 successful referral. Then there can be an option to pay to list an item. I would recommend .001 BTC or so (something so nominal that it's just a place holder for a slightly larger fee as you need to scale). By setting the cost of listing so low, people won't feel disinclined to list. Not having enough listed items and by extension not having enough users period will make it extremely hard for a budding marketplace site to thrive and grow.

For someone to shop a store that deals entirely in second-hand goods, that store has to have variety and bulk supply.

Another point and I'll take a breather: Having amazing on-site SEO is going to help you get indexed and thereby bring in more users.

TL:DR- Heavily incentivize sharing & listing.

Does LocalBitcoins offer product listing ?

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August 22, 2014, 03:10:07 PM
 #7

Maybe a very small % per sale or less is ok, I believe it is what cryptothrift has. I don't know what improvements do you have over cryptothrift because your website is not loading.
The website is not done yet, I made this thread to get some ideas for the site.
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August 22, 2014, 04:08:01 PM
 #8

Maybe a very small % per sale or less is ok, I believe it is what cryptothrift has. I don't know what improvements do you have over cryptothrift because your website is not loading.
The website is not done yet, I made this thread to get some ideas for the site.


I'll post some pictures once the design is final Smiley
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August 22, 2014, 04:11:09 PM
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Maybe a very small % per sale or less is ok, I believe it is what cryptothrift has. I don't know what improvements do you have over cryptothrift because your website is not loading.
The website is not done yet, I made this thread to get some ideas for the site.


I'll post some pictures once the design is final Smiley

Seem's to be alot of idea thievery in this community.
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August 22, 2014, 04:19:56 PM
 #10

To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.

No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.
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August 22, 2014, 04:24:00 PM
 #11

Maybe a very small % per sale or less is ok, I believe it is what cryptothrift has. I don't know what improvements do you have over cryptothrift because your website is not loading.
The website is not done yet, I made this thread to get some ideas for the site.


I'll post some pictures once the design is final Smiley

Seem's to be alot of idea thievery in this community.

The GUI u use today was neither Microsoft's not Apple's idea. It was Xerox's from where both Bill Gates & Steve Jobs copied. Ideas worth only when it is implemented. Heard of Rocket Internet group ?

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August 22, 2014, 09:01:00 PM
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To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.
No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.

Yup, people keep trying to take a stab at this one over and over, no one quite has pulled it off yet. I think Openbazaar is probably closer at building that "P2P" decentralized marketplace that everyone has been hoping for. It's classic chicken and egg though, which is partly why the others you mentioned failed. eBay has spent a fortune building a customer base and a sellers marketplace, like Walmart and Costco in the brick world, no one likes it, but we all shop there even though there are alternatives. I think one day one of these (or yours) may succeed, but it's going to be a very steep hill to climb over a long, long, long time. Best of luck to your project though.

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August 22, 2014, 11:06:23 PM
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To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.
No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.

Yup, people keep trying to take a stab at this one over and over, no one quite has pulled it off yet. I think Openbazaar is probably closer at building that "P2P" decentralized marketplace that everyone has been hoping for. It's classic chicken and egg though, which is partly why the others you mentioned failed. eBay has spent a fortune building a customer base and a sellers marketplace, like Walmart and Costco in the brick world, no one likes it, but we all shop there even though there are alternatives. I think one day one of these (or yours) may succeed, but it's going to be a very steep hill to climb over a long, long, long time. Best of luck to your project though.


Thank you for your constructive feedback Smiley

I have coinebay.com Tongue.
Anyone interested in using it?

Send me an email at contact@coinbay.org please, and we can talk about this.
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August 23, 2014, 03:23:15 AM
 #14

To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.

No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.


I was working on a similar site for a community member then they up and dissapeared. just odd timing is all, but i'll know right away whether any of the code is mine.
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August 23, 2014, 03:32:48 PM
 #15

To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.

No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.


I was working on a similar site for a community member then they up and dissapeared. just odd timing is all, but i'll know right away whether any of the code is mine.
First time I hear about it, first time I meet you and I can tell you for sure, the site is made from scratch by me and my designer (who did the design and graphics).

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August 23, 2014, 04:49:50 PM
 #16

To be honest, these concepts were made multiple times before (BitMit, Coingig, Cryptothrift) but few succeeded because of the complexity of such system to run stable on 15000+ users.
I was learning about Bitcoin and came up with this idea myself, and then did research and I indeed concluded there were multiple attempts and sites that have this concept.

No idea was stolen, and everyone is free to work out ideas? Idea's can't be  patented or trademarked.


I was working on a similar site for a community member then they up and dissapeared. just odd timing is all, but i'll know right away whether any of the code is mine.
First time I hear about it, first time I meet you and I can tell you for sure, the site is made from scratch by me and my designer (who did the design and graphics).



Ah, ok. my apologies. best of luck
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August 25, 2014, 03:11:53 PM
 #17

Start with the basic features and work your way up Tongue

Maybe have an option to setup a "shop" as well? within the marketplace?

There is definitely a lot of room to grow, especially if you start to accept more alternative currencies? Maybe the top 10?

Lets be honest, adding new currencies isnt that hard because most of them still use the basic RPC protocol, all you have to do is launch a VM, load up the software and make sure everything is up to date.

I would look into accepting (btc, lite, dogecoin, reddcoin, blackcoin and some others that have been around.
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