paulthetafy



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Hero MemberActivity: 816Merit: 1000 Re: OpenBazaar.org - Decentralized network that allows for peer to peer commerce August 28, 2014, 12:25:31 AM #25 Quote from: zolace on August 26, 2014, 10:49:44 AM I have the same Idea but a bit better and different, We will be launching our site soon I guess they will be our competitors. The success of the site will depend on funding to advertise it. Bitmit had funding to advertise on google, thats why they are successful, cryptothrift dont have the funding for it, hence hardly any traffic.

Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.



I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.



I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.



*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.



Thanks

Paul

CryptoThrift co-founder / developer Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.ThanksPaulCryptoThrift co-founder / developer

kingcolex



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LegendaryActivity: 2310Merit: 1249 Re: OpenBazaar.org - Decentralized network that allows for peer to peer commerce August 28, 2014, 12:49:11 AM #26 Quote from: paulthetafy on August 28, 2014, 12:25:31 AM Quote from: zolace on August 26, 2014, 10:49:44 AM I have the same Idea but a bit better and different, We will be launching our site soon I guess they will be our competitors. The success of the site will depend on funding to advertise it. Bitmit had funding to advertise on google, thats why they are successful, cryptothrift dont have the funding for it, hence hardly any traffic.

Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.



I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.



I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.



*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.



Thanks

Paul

CryptoThrift co-founder / developer

Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.ThanksPaulCryptoThrift co-founder / developer Thanks Paul, sadly I didn't even realize Cryptothrift was around and I am a long time user of bitcoin and this forum, definitely need to spread the word around but i understand this can be expensive. I would suggest maybe doing a Signature campaign on here or do a big reddit post but I checked out the site and I do like it, it just needs more buyers/sellers.

SunBin



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Full MemberActivity: 151Merit: 100 Re: OpenBazaar.org - Decentralized network that allows for peer to peer commerce August 30, 2014, 08:47:36 PM #27 Quote from: kingcolex on August 28, 2014, 12:49:11 AM Quote from: paulthetafy on August 28, 2014, 12:25:31 AM Quote from: zolace on August 26, 2014, 10:49:44 AM I have the same Idea but a bit better and different, We will be launching our site soon I guess they will be our competitors. The success of the site will depend on funding to advertise it. Bitmit had funding to advertise on google, thats why they are successful, cryptothrift dont have the funding for it, hence hardly any traffic.

Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.



I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.



I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.



*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.



Thanks

Paul

CryptoThrift co-founder / developer

Why do people think that CryptoThrift doesn't have any traffic? We average well over 500k page views a month, usually over 1m when we are actively marketing, and process several thousand sales a month. You are correct that we don't have external funding (yet) which is why our growth has been relatively slow. But for the time being 100% of all revenue after costs is going back into marketing, driving up our user base and traffic quite significantly.I think too many people assume that it is straightforward to setup a marketplace and have it just run itself. They don't stop to think why BitMit or Coingig failed. What they miss is the amount of time it takes to "run" a business like this, handling escrow disputes, removing spam content, actively preventing scammers, marketing, as well as the day-to-day tasks of running a business and of course developing new features. Now stop to think about how much revenue we might make (charging sellers 2.5% and buyers using escrow 1%) and what volume of trade we would need in order to support a few full-time staff for a business of this size. This is why the co-founders / operators of CryptoThrift don't get paid a penny for running it.I've been asked on several occasions to comment on OpenBazaar in relation to CryptoThrift and have so far declined to, but here goes... The idea of a P2P marketplace is very interesting and I can see the immediate intrigue for having a unique forum for buying and selling merchandise. I haven't yet understood how it will address the need for escrow. I do understand the idea of arbiters, but don't believe that Joe Public will understand this concept or trust it. The reputation system is a brilliant solution. Joe Public won't understand it or like that they have to "burn" Bitcoin in order to become trusted. The lack of censorship concerns me. What is to stop people spamming the marketplace? What if people post offensive images? Again Joe Public is not going to like that. Finally, who is Joe Public going to contact for support? Please take my comments in context and in comparison to CryptoThrift. OpenBazaar is a project that I am excited about and think that there is a place for it amongst the tech savvy crypto community. CryptoThrift is a marketplace for Joe Public*. The two will have some overlapping users for sure, but will still have enough users within their own niches to co-exist.*until eBay decide to 1) accept Bitcoin and 2) lower their fees dramatically -which no matter what people say about BrainTree, isn't going to happen because they won't give up the huge margin they can demand via PayPal.ThanksPaulCryptoThrift co-founder / developer

Thanks Paul, sadly I didn't even realize Cryptothrift was around and I am a long time user of bitcoin and this forum, definitely need to spread the word around but i understand this can be expensive. I would suggest maybe doing a Signature campaign on here or do a big reddit post but I checked out the site and I do like it, it just needs more buyers/sellers.

There weren't doing a good job on marketing then. This is also the first time I heard Cryptothrift.



Also, the laptop section on Cryptothrift has too few selection choice. They need to attract merchant with wider selection of goods. There weren't doing a good job on marketing then. This is also the first time I heard Cryptothrift.Also, the laptop section on Cryptothrift has too few selection choice. They need to attract merchant with wider selection of goods.