OpenBazaar: Why hasn’t it Steamrolled Amazon and eBay? Article
OpenBazaar hasn’t defeated those two giants yet. Despite the hyping at the beginning, the project is only taking off in a niche market.
OpenBazaar originated from DarkMarket app and has since then been updated greatly and switched over to Google Go Language (server part). Many improvements such as multi wallet, offline ordering and messaging, IPFS protocol and so forth.
Reasons for OpenBazaar lack of growth: Lack of Buying Demand for Bitcoin Payments OpenBazaar vs Amazon and eBay: Apples vs Oranges Tech Wise: way different Reputation What the hell is Bitcoin? Bad Advice from Thought Leaders Public Appeal Grassroot “Social Market” Effort Against OpenBazaar Lack of in-Demand Goods Sellers Unaware of the Challenges? Sellers that Rage Quit Pump and Dump is Ruining Bitcoin
Lack of Buying Demand for Bitcoin Payments
Bitcoin Payments for physical goods are not common. You could set up any Open...
Deadal Nix wants to replace Blockchain with something "better"? I'll believe it when I see "better" results. Otherwise just developer experimental playground stuff.
OpenBazaar is a Decentralized Marketplace and Crypto Exchange. It reminds me of what the ideal Selling Marketplace should be. But it was released long before Crypto reached it’s prime.
Section I: Thoughts on OpenBazaar
Why it is Released before it’s Prime
OpenBazaar is literally a polar opposite to eBay. It’s decentralized via IPFS, uses Cryptocurrencies instead of PayPal (KYC/AML). No central authority to ban sellers or strong arm them off the platform. Escrow transaction system instead of Credit Card Companies almost always leaning on the side of the Buyer.
Crypto Adoption is less than 1% worldwide. Outside of a few third world counties being pushed for Bitcoin Cash (BCH), the demand is not there yet. You can’t just point the finger at OB1 if very few are buying with Crypto in the first place.
It’s hard to buy Crypto without KYC/AML. Crypto ATMs and centralized exchanges want that information. Once there is prepaid crypto cards ...