Crypto Trading

Nice concept, I'm guessing it's successful due to it being difficult to obtain bitcoins.

However now there are sites like uphold.com which is a rebranding of bit reserve. You can buy and sell bitcoins at the midpoint between the bid/offer spread. Cheapest way to do it. At least in the UK.

Also check out plutus.it, theyre attempting to turn your phone into an NFC debit card funded with bitcoins.

Coming up on the 30th March is the initial crowdsale for digix, theyre an app running on etherum for digital gold. Proven 1:1 reserves on the block chain. A decentralised version of egold.

The one I'm most looking forward to is slock.it which on the surface is a decentralised sharing economy but it's also a very well thought out attempt for one of the first decentralised autonomous organization's. Fascinating stuff.

Thanks for the video, it was mainstream enough to get a discussion going with some of the guys in the office today.
 
Wingz said:
Nice concept, I'm guessing it's successful due to it being difficult to obtain bitcoins.

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I've wondered this myself. Sometimes it is very easy to get merchandise at a 30-45% discount. Other times (like now) there don't appear to be any buyers and one can go a couple weeks without a hit.

The business model from my obstructed view appears to be hinged on Amazon gift card holders not being able to sell their GCs in a secondary market. Amazon GC values can be reversed unlike most other GCs.

Once considered opening an AMZN shop to buy and sell to myself over Purse and pocket the spread but selling on AMZN is a no go for me.
 
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m1nt said:
I've wondered this myself. Sometimes it is very easy to get merchandise at a 30-45% discount. Other times (like now) there don't appear to be any buyers and one can go a couple weeks without a hit.

The business model from my obstructed view appears to be hinged on Amazon gift card holders not being able to sell their GCs in a secondary market. Amazon GC values can be reversed unlike most other GCs.

Once considered opening an AMZN shop to buy and sell to myself over Purse and pocket the spread but selling on AMZN is a no go for me.
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Yeah probably a combination of both factors.

The digix crowdsale occurred on the 30th, it was meant to go on for 30 days - they decided to cap it at $5.5m however and it was filled within 14 hours. I was originally only going to allocate a small amount but when it became apparent that it was going to be filled on day 1 I upped my clip. The tokens get released at the end of the month, based on the demand I think it could be a quick multiple return on investment on day 1.

They gave it 30 days and it sold out in 14 hours... gotta be a good sign.

Another interesting one to look at is Arcade City, a decentralised Uber which may release mid-april. My next crypto punt.
 
OpenBazaar.org launched today. The decentralised bitcoin marketplace (like ebay without insane fees)

I'm happy about this but still concerned about bitcoin in general (blocks filling up and freezing transactions or whatnot.)

The main reason I'd use openbazaar is to buy/sell precious metals because EBay and paypal fees nail you with %13 which makes selling metals on ebay a losing trade from the start.
 
Kind of bummed Augur.net beta launch didn't go a bit more smoothly. There is much improvement left for that but hopefully they fix lag issues ect. That is another big app I want to succeed.
 
Zr1Trader said:
OpenBazaar.org launched today. The decentralised bitcoin marketplace (like ebay without insane fees)

I'm happy about this but still concerned about bitcoin in general (blocks filling up and freezing transactions or whatnot.)

The main reason I'd use openbazaar is to buy/sell precious metals because EBay and paypal fees nail you with %13 which makes selling metals on ebay a losing trade from the start.
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Nobody hates Ebay more than me, but the thing about it is that it is liquid. Despite the fee gouging, the nickel and diming (ie. a $0.25 fee on shipping through Ebay), the unfriendly user interface for sellers, the constant changes to TOS that make it progressively worse, the take it or leave it business approach, if you have to unload something it is not always bad. Selling PM on Ebay results in a slightly higher price than what will be attained from selling at a place like Apmex or NTR Bullion. Sure, you might be able to lock-in the price at another place which is a concern in volatile markets, but you have to pay for shipping and insurance and wait three weeks for the check. A bunch of 1 day Ebay auction listings for sales under a few grand isn't necessarily a bad idea. Also, If you break up your sales into different Ebay accounts, there may be tax advantages v. getting a check from Apmex.

The Ebay-for-bitcoin business model has been tried before. There was a place in 2013 that tried it. I forget the name. They seemed very professional and may have been backed by the same VCs as Coinbase. They are most certainly out of biz as they couldn't get an adequate depth of buyers. I distinctly remember buying some cheap LTC there; the seller didn't update their price as LTC was breaking out. Purse is another outfit that will allow people to sell stuff ala Ebay style for $20 a month and cheap transaction fees. I am considering trying it.

If you sell PMs or anything else on Openbazaar, let me know. I would love to hear opinions.
 
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