Hey Issie81. You said you own tweakers.net, an online marketplace. Instead of buying up all the bitbay with your BTC, wouldn't it be a better idea to accept bitbay as payment on your marketplace? People would become interested in bitbay, they would be useful now, the price would rise and you could still collect them. Sort of like Bitcoin.

Your pal,
DeezCoinz

OK. I guess I see. The real value of bitbay will be for using it on the bitbay marketplace. Obviously, why would I buy bitbay with bitcoin to use bitbay at your webshop when I can more easily use bitcoin already. Are you planning to open a shop on the bitbay marketplace? Why would someone go there instead of to your existing webshop?

Thanks.
DeezCoinz

I have a more general question.

Why would I (general purpose consumer, internet savvy) use an "XXXXcoin" based decentralized marketplace instead of amazon or Ebay? I already know how to use ebay, they take my credit card, and I don't care who knows that I buy old radio tubes or comic books.

With cryptocurrency, I have to manage my coins, I need a wallet on my system because I don't trust any online wallet, I have to have 3 copies of my wallet or keys or whatever on different devices every time I make any kind of transaction otherwise I might lose it. I don't feel comfortable keeping $100K on my computer anyway.

Even if every business in the world took bitcoin or XXXcoin I still have to purchase bitcoin with my credit card to use bitcoin, rather than just making the purchase directly with my card.

The only allure of the decentralized marketplace seems to be that it would be "impossible to stop" unlike the Dark Net on Tor which can be broken when the central system for a market is discovered.

It seems like if I don't intend to make illegal purchases or I want to "stick it to the man" there really isn't a mass market allure to digital currency.

What am I missing here?

Thanks,
DeezCoinz

I can't agree with your vision. I know that e.g. PayPal takes about 4-5% that would be $4-5 per $100.
BitBay sellers would have a better price margin to sell products and if they lower their selling price to give some profit to the buyer, then I would say it's a win/win situation. Wouldn't you?

Thanks for the compliment, but I'm not a visionary.  I buy and use bitcoin because it's fun and for the technology. I trade a few crytocurrencies, less than $150 total, because it's fun, and I just might end up very rich someday.  So, I'm down with digital currencies. My wife is the devils advocate. She asks "who would want to use that?" I don't have a good answer. If, because of no interest and no transaction fees, coin based markets could offer across the board lower prices than the competition as you suggest, that would be a good reason to convert. Most tech advances are either completely new ideas or improvements on existing tech. Often the improvements involve ease of use. I don't have a case where any coin based marketplace would be easier to use for most people. Without that there doesn't seem to be any compelling reason to switch.

You are asking the right questions.

Many coins bring many new techs, Bitbay will bring an Market that is decentralized.

You get 1 % interest by staking at the moment.



The good side of Internet Anonimity is also its bad side, like scammers etc.



The coin that will fill all your answers will be the perfect coin.

I think for the moment Bitbay is an part of the perfect coin, but has potential to upgrade into more.

well,..so let them/us to compete
who will exist
market will tell us

We will update V1.1 smart contract wallet later.

Thanks

i think we all share this kind of doubts but i usually consider this:

we are pioneers in this field, i mean, we are experimenting methods that maybe are going to be used in 10-15 years by everyone in the world.. some methods will fail and some other will survive and become a standard, that's why is funny to have interest invest in something you believe is "the way".. or has hints in it about the future..

even sending and email 20 years ago was mechanical and complicated. it's the development, the interest and the actual function in it that made it easy to use and popular