First Blockchain funded business

[ebit]

 

[jsidhu]

 yes it works http://devcoinauctions.com/

[bubble789]

was the site functional?

[jsidhu]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

This is kind of where I disagree.  If this helps subsidize a business that can then pass those savings on to customers...Why do you think Walmart is so huge worldwide?  Why do you think it has no real competitors in the space it fills? Because of Government Subsidies!

If you could help build up a website to offer lower costs than all its competitors, and guarantee it will be using bitAssets, then it IS marketing for bitAssets... Of course, that is unless the marketing teams choose not to market the service... and it goes completely unknown by all but a few people who keep it a secret so they can get great deals and have no competition.

That is the only issue I can see... we would need to market it and not try to "game" it.. but it would be extremely fun to participate and get people involved.

[fuzzy]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

This is kind of where I disagree.  If this helps subsidize a business that can then pass those savings on to customers...Why do you think Walmart is so huge worldwide?  Why do you think it has no real competitors in the space it fills? Because of Government Subsidies!

If you could help build up a website to offer lower costs than all its competitors, and guarantee it will be using bitAssets, then it IS marketing for bitAssets... Of course, that is unless the marketing teams choose not to market the service... and it goes completely unknown by all but a few people who keep it a secret so they can get great deals and have no competition. 

[jsidhu]

I'm familiar with the idea of Penny Auction, but I'm not really sure if I understand your project correctly.

A - Instead of buying 'bid credit' using fiat, your user will buy bitassets using fiat in order to bid (using bitassets)?

OR

B - they have to buy bid credit using bitassets?

They can buy using fiat (paypal) or bitassets (bitusd etc) to buy bids... then use those bids to win auctions. You can resell bids for bitassets too using the user to user transfer.. which is a feature I was working on last... it is up to community to decide what is best form of acceptance in terms of payments.

[abelljefrry]

I'm familiar with the idea of Penny Auction, but I'm not really sure if I understand your project correctly.

A - Instead of buying 'bid credit' using fiat, your user will buy bitassets using fiat in order to bid (using bitassets)?

OR

B - they have to buy bid credit using bitassets?

[jsidhu]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

Largely Agree. Esp on BitAsset marketing. 


Sent from my iPhone using Tapatalk

It is bitasset marketing since it will use bitassets.. since there will be good deals there will be alot of new bitshares users its garanteed...

Its buying new users.

I like the other stuff you are working on. I'm also a big fan of anything that directly integrates BitAssets.
However this seems a bit niche, you already tried it with devcoin and it didn't get much traction & BTS won't necessarily be different. Are there any other crypto's  with popular auction style sites?

It wasnt tthat it wasnt working... I turned it off myself because i didnt have incentive to keep it up.. There was no market depth to devcoin and they were not in agreement to fund the business.. And everything i had said came true with devcoin now so in hindsight we should have done what I said. Its a great idea to bring fresh eyes and a way to market bitassets in a clever way.. Its only niche cause i thought penny auctions presented great opportunity to create revenue if userbase grew and there is enough traction in bitshares to make that happen. I spent many months writing it so we get to leverage that aswell... I was getting new users but the fact that i had to create special bid types for devcoin made me feel uneasy

[Empirical1.2]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

Largely Agree. Esp on BitAsset marketing. 


Sent from my iPhone using Tapatalk

It is bitasset marketing since it will use bitassets.. since there will be good deals there will be alot of new bitshares users its garanteed...

Its buying new users.

I like the other stuff you are working on. I'm also a big fan of anything that directly integrates BitAssets.
However this seems a bit niche, you already tried it with devcoin and it didn't get much traction & BTS won't necessarily be different. Are there any other crypto's  with popular auction style sites?

[jsidhu]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

Largely Agree. Esp on BitAsset marketing. 


Sent from my iPhone using Tapatalk

It is bitasset marketing since it will use bitassets.. since there will be good deals there will be alot of new bitshares users its garanteed...

Its buying new users.

[faddat]

Carpetwide: I've no opinion on this argument, but I do want to let you know that the line between nonprofit and for profit blurs more every day.  My own company, has a hard time just "fitting in" to one definition or another.

[carpet ride]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

Largely Agree. Esp on BitAsset marketing. 


Sent from my iPhone using Tapatalk

[jsidhu]

Think of it this way it is a delegate that gives out cheap goods to get ppl interested in bitshares.. since i will hookup bitshares login they will have to download the client to start working with it...

I dont see how its different than other marketing techniques.. others straight drop coins on ppl for free to get themto use.. atleast this is more interactive and fun. We get marketing out of it and get the right to have the first blockchain funded business like we have first blockchain funded devs etc..

I was thinking of use a bitasset to create bids so when ppl login their bids will be transfered to the site.

[Rune]

This should not be a delegate. In fact I think we are on the wrong track regarding delegate funding of for-profit businesses. It only makes sense if we are paying to get the advantage of some major infrastructure, like from an exchange. Otherwise it just means the blockchain is subsidizing projects that aren't economically viable enough to raise capital on their own. Delegates only make sense for things that are public goods for all BTS shareholders like core development, open source project development, or bitasset marketing.

[jsidhu]

I don't understand the economic model.
Is this like e-bay except that you can pay with btAssets?

Where do the items come from that you auction off for as little as 1% of their retail value?

Where are items warehoused?

Who is being paid to look after inventory and do shipping?

Is someone going to be available to handle customer service (complaints, questions)?

Its going to be bought once auction is over.. I am dropshopping paying in btc to places like overstock

1% retail is still profitable

It is a bidding fee auction site: http://en.m.wikipedia.org/wiki/Bidding_fee_auction

Rest is part of delegates job