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A decentralized marketplace is more akin to what you would see in ancient bazaars of Mesopotamia. It will allow vendors to collect more money for their service

A decentralized marketplace is more akin to what you would see in ancient bazaars of Mesopotamia. It will allow vendors to collect more money for their service while at the same time allowing customers to pay less for the same service. This is because a decentralized service does not need a thousand people and billions of dollars of VC funding to run (take Uber for instance). Instead there will be the smart contract (which will require funding so there will be a very small fee per transaction), the governance body (which is going to be like the shareholder system of the stock market so token holders), and the vendors themselves. Multiple layers of waste will be cut (middle management, needing an actual corporation to provide a service) and it's a more natural way of doing business. It's a pretty radical shift from the way we're doing things now and the wheels are in motion which is why so many people are excited.

verdverm 5y ago
> Instead there will be the smart contract (which will require funding so there will be a very small fee per transaction) So you are saying there are still middlemen who take a cut of the transactions?
- snejad123 5y ago
  You are on YC's forum! I suggest you learn how the price of a product or service changes based on regulation, cost of employees, the amount of money a business owes in loans, basic stuff! More overhead adds to the cost. A smart contract infrastructure will not have zero overhead, but it will be close to it. Much less than a centralized service provider. There is no "middlemen" but more just one "middleman" which is the smart contract which each will have a different protocol and how they handle fees. Some will use it to pay for API calls, others will use it to do some automated token buy-backs. Depends on the contract. And the beauty is, the contracts are all publicly available so you can read it before requesting to the service.
  - verdverm 5y ago
    The miners who charge fees to process transactions, are they not middlemen? Centralized processors have infra costs, perhaps they have found a good price point already You could also be more respectful if you are on HN
    - snejad123 5y ago
      yes you are right, but still: (staking fees && smart contract fees) <<< (overhead of running a multi-billion dollar corporation)
      - verdverm 5y ago
        You're still missing a bunch of other skims off the top in crypto. You are incorrect to make that logical jump since anything crypto is still very early stage and has yet to produce viable, long term business models Note that hiring devs in crypto is more expensive than other industries, due to its bad rap. There is no amount of money that could get me to work in crypto
bamboo2 5y ago
This is a great answer. I think my problem is explaining it to poor people, who see Elon musk and jack dorsey, pushing Bitcoin as “for the people” and they just think, oh it’s for those rich guys to hype their startup options into the stratosphere, not for us folks living in debt on the verge of homelessness. I want to help those people get in on it, so they aren’t left even further behind if that makes sense.
- snejad123 5y ago
  Yah I totally agree and I don't like the fact that tech giants like Elon & Jack are using their influence to fluctuate the price of crypto so they can make a few bucks. I find it greedy and disgusting. I think these guys have become pretty delusional with the amount of power they experienced the past few decades. The true crypto movement inside the developer circles of ethereum is trying to displace these assholes by flipping the value infrastructure to the actual service provider rather than the one who sits at the top of the centralized pyramid. It will help poor people in the long-run when it allows more accessible services like driving and food delivery to pay more to them. It may not work, but it's worth a shot and theoretically possible. This current system of mega-billion dollar centralized tech businesses is actually very unnatural and strange in my opinion.

verdverm 5y ago

> Instead there will be the smart contract (which will require funding so there will be a very small fee per transaction) So you are saying there are still middlemen who take a cut of the transactions?

snejad123 5y ago
You are on YC's forum! I suggest you learn how the price of a product or service changes based on regulation, cost of employees, the amount of money a business owes in loans, basic stuff! More overhead adds to the cost. A smart contract infrastructure will not have zero overhead, but it will be close to it. Much less than a centralized service provider. There is no "middlemen" but more just one "middleman" which is the smart contract which each will have a different protocol and how they handle fees. Some will use it to pay for API calls, others will use it to do some automated token buy-backs. Depends on the contract. And the beauty is, the contracts are all publicly available so you can read it before requesting to the service.
- verdverm 5y ago
  The miners who charge fees to process transactions, are they not middlemen? Centralized processors have infra costs, perhaps they have found a good price point already You could also be more respectful if you are on HN
  - snejad123 5y ago
    yes you are right, but still: (staking fees && smart contract fees) <<< (overhead of running a multi-billion dollar corporation)
    - verdverm 5y ago
      You're still missing a bunch of other skims off the top in crypto. You are incorrect to make that logical jump since anything crypto is still very early stage and has yet to produce viable, long term business models Note that hiring devs in crypto is more expensive than other industries, due to its bad rap. There is no amount of money that could get me to work in crypto

bamboo2 5y ago

This is a great answer. I think my problem is explaining it to poor people, who see Elon musk and jack dorsey, pushing Bitcoin as “for the people” and they just think, oh it’s for those rich guys to hype their startup options into the stratosphere, not for us folks living in debt on the verge of homelessness. I want to help those people get in on it, so they aren’t left even further behind if that makes sense.

snejad123 5y ago
Yah I totally agree and I don't like the fact that tech giants like Elon & Jack are using their influence to fluctuate the price of crypto so they can make a few bucks. I find it greedy and disgusting. I think these guys have become pretty delusional with the amount of power they experienced the past few decades. The true crypto movement inside the developer circles of ethereum is trying to displace these assholes by flipping the value infrastructure to the actual service provider rather than the one who sits at the top of the centralized pyramid. It will help poor people in the long-run when it allows more accessible services like driving and food delivery to pay more to them. It may not work, but it's worth a shot and theoretically possible. This current system of mega-billion dollar centralized tech businesses is actually very unnatural and strange in my opinion.