4 ms·
How does the unit economics work here? To my understanding, BTC (even after SegWit) has non-negligible transaction fees. Is this site just eating into VC money
by SpeakMouthWords 9y ago
How does the unit economics work here? To my understanding, BTC (even after SegWit) has non-negligible transaction fees. Is this site just eating into VC money to make things feeless?
- mtgx 9y agoI think it just means no "eBay-like fees". There should still be Bitoin transaction fees. > OpenBazaar costs nothing to download and use. There are no fees to list items, and no fees when an item is sold. Because the trade is p2p (peer to peer), it’s happening directly between buyers and sellers with no middleman to take a cut from each sale. It’s completely free e-commerce. https://www.openbazaar.org/features/ https://www.openbazaar.org/features/
- wmf 9y agoI'm sure you still have to pay Bitcoin transaction fees. They should really say that there are no additional fees to use Open Bazaar since it is open source.
- xur17 9y agoThey should really move to Ethereum. I have regularly been paying ~$0.01 for transactions that verify in under a minute.
- Frogolocalypse 9y ago> They should really move to Ethereum. The project is opensource. If you feel there are features that you would like to have in it, I'm sure they will appreciate your input to the project.
- jstanley 9y agoOpenBazaar is a peer-to-peer marketplace. There are no fees for using the software. Of course you still have to pay BTC transaction fees.
- SamPatt 9y agoOpenBazaar is not a site at all. People run it on the machine locally and are connected to others in a p2p network. No middleman involved, no fees paid (except BTC network fees on transactions).