Support OpenBazaar!!!

[BittBurger]

Well I'm not too sure how keen I am on the concept of "proof of burn" (...ing Bitcoins) for every store owner, repeatedly for the life of the Open Bazaar existence.

The creation of an OB token of some sort which costs money, would enable vendors to show good faith by spending that money to authenticate their store, without a constant, ever-burning destruction of Bitcoins.

You dont have to allow it to be traded. 

-B-

[Bees Brothers]

Well I'm not too sure how keen I am on the concept of "proof of burn" (...ing Bitcoins) for every store owner, repeatedly for the life of the Open Bazaar existence.

The creation of an OB token of some sort which costs money, would enable vendors to show good faith by spending that money to authenticate their store, without a constant, ever-burning destruction of Bitcoins.

You dont have to allow it to be traded. 

-B-

I too am thinking about that one.

Couldn't the same thing be accomplished by sending a transaction to Sean's Outpost or some other charity?

[luckypyrate]

Or further dev/security/maintenance?

[troy112]

Well I'm not too sure how keen I am on the concept of "proof of burn" (...ing Bitcoins) for every store owner, repeatedly for the life of the Open Bazaar existence.

The creation of an OB token of some sort which costs money, would enable vendors to show good faith by spending that money to authenticate their store, without a constant, ever-burning destruction of Bitcoins.

You dont have to allow it to be traded. 

-B-

I too am thinking about that one.

Couldn't the same thing be accomplished by sending a transaction to Sean's Outpost or some other charity?

The main advantage of Proof of Burn is that, the value gets lost from bitcoin and gets added to the new token. It's also transparent.
And if you give it to sean's outpost, the bitcoin will return to the market place. So, only the value exchanges the hands, there is no money backing the token.

Although i do not wholeheartedly agree with Proof of Burn. We could lock bitcoin up.....

[Dajve]

OpenBazaar shares would ruin the whole point of it being open source and decentralised, if you want shares then get the OpenBazaar code and start your own company.

That's my thoughts on the matter

I'm sure people will do this. People are always greedy and will want to make money from this great idea. Hopefully the market will dictate which way these kind of marketplaces will go and how they will develop without centralised entities or people taking their cut.

[Rampton]

Is OpenBazzar going to be completely without fees or will a small amount be distributed to the people who host or run it similarly like the bitcoin miners get a share?

[inBitweTrust]

Is OpenBazzar going to be completely without fees or will a small amount be distributed to the people who host or run it similarly like the bitcoin miners get a share?

No fees, besides any BTC miner fee or arbitration fee if there is a dispute.

[harrymmmm]

OpenBazaar shares would ruin the whole point of it being open source and decentralised, if you want shares then get the OpenBazaar code and start your own company.

That's my thoughts on the matter

I'm sure people will do this. People are always greedy and will want to make money from this great idea. Hopefully the market will dictate which way these kind of marketplaces will go and how they will develop without centralised entities or people taking their cut.

This is expected, and in fact, is the reason the licence was changed from GPL to MIT recently.

[Willisius]

OpenBazaar shares would ruin the whole point of it being open source and decentralised, if you want shares then get the OpenBazaar code and start your own company.

That's my thoughts on the matter

I'm sure people will do this. People are always greedy and will want to make money from this great idea. Hopefully the market will dictate which way these kind of marketplaces will go and how they will develop without centralised entities or people taking their cut.

There are no fees to use OB so any shares that would be sold would be worthless.

OB's only source of revenue is donations from the community, however such donations would almost certainly stop once shares are sold.

[1986]

Is OpenBazzar going to be completely without fees or will a small amount be distributed to the people who host or run it similarly like the bitcoin miners get a share?

No fees, besides any BTC miner fee or arbitration fee if there is a dispute.

I think this is one of the best points of Open Bazaar. Sites like ebay and also black market sites such as Silk Road charged too much in fees and bonds etc.

[Flashman]

The coin burn is worrying me also. Having a limited number of bitcoins = good idea.... having very limited number of bitcoins = not good idea.

How fast is this going to "unmine" them, if we posit that it becomes as successful, though not identical, to SR 1.0 ?

I know we've got some natural attrition due to mistakes accidents and carelessness, but if it munched as little as 5% a year, I would tend to think that that made bitcoin look like not having a long term future. (Until the last million or so left were never traded or spent and used purely as value store/reserve, at which point mining would be pointless, no tx, and shit would die.)

[inBitweTrust]

The coin burn is worrying me also. Having a limited number of bitcoins = good idea.... having very limited number of bitcoins = not good idea.

There is no limits to how many units we can create with further decimalization. The 21million cap only protects us against the theft of inflation. Even if 20 million BTC is burned we will be fine.

The act of burning coins is simply the act of giving the community a gift of deflation(increasing their spending power).

[Flashman]

Things can be mathematically sound, but psychologically discomforting ;-)

[inBitweTrust]

Things can be mathematically sound, but psychologically discomforting ;-)

Agreed, but luckily we can adapt by becoming used to other nomenclature like milibits and bits in the future.

[rollingMyCar]

OpenBazaar shares would ruin the whole point of it being open source and decentralised, if you want shares then get the OpenBazaar code and start your own company.

That's my thoughts on the matter

I'm sure people will do this. People are always greedy and will want to make money from this great idea. Hopefully the market will dictate which way these kind of marketplaces will go and how they will develop without centralised entities or people taking their cut.

This is expected, and in fact, is the reason the licence was changed from GPL to MIT recently.

Plz can you explain differenze between GPL and MIT license in a few words?
Thanks

[harrymmmm]

OpenBazaar shares would ruin the whole point of it being open source and decentralised, if you want shares then get the OpenBazaar code and start your own company.

That's my thoughts on the matter

I'm sure people will do this. People are always greedy and will want to make money from this great idea. Hopefully the market will dictate which way these kind of marketplaces will go and how they will develop without centralised entities or people taking their cut.

This is expected, and in fact, is the reason the licence was changed from GPL to MIT recently.

Plz can you explain differenze between GPL and MIT license in a few words?
Thanks

GPL use in a project requires all code mods to be GPL/public. MIT doesn't.
There are exceptions, but basically that means a group could use OB in a commercial product without being required to contribute their whole project (or even the OB enhancements) to the public domain.

[harrymmmm]

Things can be mathematically sound, but psychologically discomforting ;-)

Agreed, but luckily we can adapt by becoming used to other nomenclature like milibits and bits in the future.

See? You're doing it already.
How can a millibit be bigger than a bit?
My head is still exploding...

[crazy-pilot]

The coin burn is worrying me also. Having a limited number of bitcoins = good idea.... having very limited number of bitcoins = not good idea.

There is no limits to how many units we can create with further decimalization. The 21million cap only protects us against the theft of inflation. Even if 20 million BTC is burned we will be fine.

The act of burning coins is simply the act of giving the community a gift of deflation(increasing their spending power).

No, not really. The act of burning coins is buying trust. The amount of coins that will (realistically) potentially be burned is much less then the amount of coins that are mined via the miners every day.

[inBitweTrust]

No, not really. The act of burning coins is buying trust. The amount of coins that will (realistically) potentially be burned is much less then the amount of coins that are mined via the miners every day.

Yes, I understand the reason for open bazaar burning coins. I was merely suggesting what the economic effect of destroying bitcoins .

[SamPatt]

Why couldn't one buy shares in this? Such as freemarket did. Would have been win win

^coming soon... 

Hey everyone, Sam Patterson here from the OpenBazaar team.

We admittedly don't have a very good presence here in the forums, we are mostly in our /r/openbazaar subreddit or on IRC. So claims like the quote above should be treated very skeptically; this appears to be a scammer.

We aren't offering shares, or any investment of any kind. There are no fees for using OpenBazaar - that's one of the cores benefits of it - so it's unclear how anyone could get a return on investment. We do take donations, but aren't soliciting them, we don't really need them at this point. If we do, we'll do a proper crowdfunding campaign.

Happy to answer questions about OpenBazaar is anyone has them. We're really excited to see how much the community has supported us over the past few months, it's been a lot of work but very rewarding.