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Decentralized Blockchain-Based Electronic Marketplaces

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Re: Decentralized Blockchain-Based Electronic Marketplaces

#31

Post by withdavidli »

spookthesunset wrote: post #28
EGreg wrote: post #26

Earlier quoted context omitted.

"When it pops" I hear that a lot. Many tokens have a floor, which is the actual value of the tokenized assets. Filecoin's floor is the cost/demand for actual hard drive space. Tickets to artist concerts tokenized would have a floor. Our token (Intercoin.org) has a floor represented by actual economies of communities. Bitcoin on the other hand, has no floor. Just like Myspace vs Facebook or AltaVista vs Google, people…

> people can switch easily. And therefore it clearly follows that bitcoin is worth, what, $13,400 per BTC? If the amount of crypto-coin is near limitless (hint: it is), why is any of it worth anything at all? Which is yet another flaw in the original Bitcoin premise... that because Bitcoin is scarce, it is valuable. But guess what... bitcoin isn't scarce at all. It can, and has, and will continue to be forked. And ye…

It’s a token economy like any fiat currency. The market determines the value. As long as people are willing to exchange something for a token, the token will have value. Tokens can be usd, euro, yen, btc, eth, sea shells, plastic chips (e.g, casino chips).

Re: Decentralized Blockchain-Based Electronic Marketplaces

#32

Post by htormey »

askafriend wrote: post #12
rublev wrote: post #11

Earlier quoted context omitted.

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a few?

Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others. Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are.…

I agree with a lot of your comments on this post but I'm not sure if you want to include LTC in that list of examples.

I can see BTC and ETH having long term value but I'm not so sure about LTC.

LTC'S main claim to fame seems to be that Charlie (it's creator) was working at Coinbase and managed to get it listed there.

Apart from that it appears to be a bunch of copy pasta code from other projects.

If you want to see a perfect example of this, check out this post on why LTC is "faster" than BTC:

https://twitter.com/r_Buttcoin/status/951585800147390464

The main thing I use LTC for right now is buying ALT's from other exchanges because its network fees are cheaper than ETH/BTC/BCH. I don't see this situation lasting forever especially considering Charlie (LTC'S creator) recently unloaded all of his LTC.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#33

Post by stale2002 »

QAPereo wrote: post #23
stale2002 wrote: post #20

Earlier quoted context omitted.

I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally. Does that mean that paper money isn't scarce? Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.

That would be legal, but critically attempting to redeem them for current USD would be a crime. So no... not the same.

It is exactly the same.

First of all, I COULD sell my stale2002 dollars for real dollars, at market price, as long as I am not lying about what I am selling.

The price of my sale2002 dollars would probably be ~0, but I am still not breaking the law.

If you fork Bitcoin, you can't redeemed your forked coins for real Bitcoin, either.

It would be a completely new and different currency.

The same exact thing is the case with my new paper bills.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#34

Post by sova »

nerdponx wrote: post #4
ThomPete wrote: post #3

Earlier quoted context omitted.

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

Is anyone actually auditing all these blockchains?

An integrity verification service for [the codebase of] ICOs and other coins would be a welcome innovation

Re: Decentralized Blockchain-Based Electronic Marketplaces

#36

Post by askafriend »

htormey wrote: post #32
askafriend wrote: post #12

Earlier quoted context omitted.

Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others. Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are.…

I agree with a lot of your comments on this post but I'm not sure if you want to include LTC in that list of examples. I can see BTC and ETH having long term value but I'm not so sure about LTC. LTC'S main claim to fame seems to be that Charlie (it's creator) was working at Coinbase and managed to get it listed there. Apart from that it appears to be a bunch of copy pasta code from other projects. If you want to see…

I just used BTC/ETH/LTC as examples of coins that most who are remotely tuned into the space are aware of. That statement was not to be meant to be taken as an endorsement of any of those projects.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#37

Post by oculusthrift »

empath75 wrote: post #14
ThomPete wrote: post #3

Earlier quoted context omitted.

Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

right and anyone can start their own twitter too

Re: Decentralized Blockchain-Based Electronic Marketplaces

#38

Post by ThomPete »

syntaticSugar wrote: post #22
ThomPete wrote: post #6

Earlier quoted context omitted.

You wouldn't have to that's the whole point of the blockchain that the validation is done by the network itself. All you need is to know which coin/token you are on and you know whether you have the original or not.

I think what he/she meant was the code base

Yes and thats missing the point.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#39

Post by mirekrusin »

sktrdie wrote: post #2

Aren't you guys tired of this whole blockchain thing? I'm a bitcoin proponent and love the technology, however it's becoming a truly "fake news" type of environment where new cryptocoins are so complicated to understand that only the creators know how they work. I'm mind blown by the fact that none of these new-cryptocoins are getting hacked - there's an enormous bounty out there for who's able to figure out how to d…

Please keep in mind that money on the blockchain is just a part of what's being worked on; there are many systems being built that don't involve money (directly) at all. Arguably money, as in - keeping an integer for an address - is one of the least interesting areas of systems you can build.

Re: Decentralized Blockchain-Based Electronic Marketplaces

#40

Post by joshfraser »

There are four reasons I think decentralized marketplaces are inevitable:

1) Throughout history middlemen have suffered a common fate. They get squeezed out at every opportunity. We have a chance to cut out the rent-seeking middlemen, with revolutionary new business models that allow fees to go to ~zero.

2) Blockchain technology gives us a censorship resistance. Not only from governments that like to ban certain types of marketplaces, but also from centralized marketplaces which like to pick and choose who is welcome on their platforms. Just look at Uber and Airbnb as examples. They have been banned in cities all around the world & have likewise banned certain individuals for life from ever using their marketplaces.

3) We can redistribute value to the people who actually contribute the most value in the network. Uber and Airbnb wouldn't be here today if it wasn't for the first 100 drivers/hosts, but what did those drivers/hosts get in exchange? Meanwhile, the early employees, investors and founders get filthy rich. New token economics give us a "better than free" business model that incentivizes people to use a platform that rewards early participants in the network.

4) Blockchain powered marketplaces are instantly global. This is a non-trivial advantage over anyone who attempts to create a centralized marketplace and has to wade through the local laws and banking regulations for each and every jurisdiction in the world where they wish to operate.

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