I was looking to invest in an ICO coming up called BlockV and during my research, started wondering if they will be a direct competitor to Safex.
They are creating a marketplace related to crypto, so although it doesn’t sound like the same marketplace as Amazon and Safex, I do wonder if perhaps I’m missing something and they might actually directly try to capture the exact same value proposition as Safex (minus the anonymous part)?
On a side note, they won’t be getting any investment from me as they changed the ICO date and buy in options to purely capitalise on the BTC and ETH fork which means they everyone is going to get half of what they originally planned by taking part.
@Howlinjay There are tons of ICO and even products with marketplaces available.
(Bitbay / Syscoin / Bazaar and a couple more just to mention the main ones).
I think the approach of Safex is unique, since all of them have
one currency they use for trading and investing -Safex has split that part up.
most of them use a regular blockchain, so each and every transaction can be traced back to its origin - if you are unlucky, back to your bankaccount.
the “anonymous part” that you mentioned, is in my eyes the most critical USP for Safex for buyers and sellers - legal or illegal, but at the end of the day the approach to Bitcoin was a decentralized, non-government controlled currency - and then you sign up to a marketplace where 3-5 guys try to regulate the offers and mimic a government? (Bitbay / Syscoin).
last thing: In the “non-cryptoworld” there are 100+ marketplaces that make billions of turnover - so i am pretty sure that there will be room for 5-10 Cryptomarkets. End of the day, the broad concept is clear, it will be the small features that attract customers. And if you want to see massadoption, well then most of the time GUI and marketing is the key, along with easy access and clear economics (not too volatile).
I agree that there’s plenty of room for a number of similar products and services. For now, I’m just trying to understand who is who and offering what in these spaces (such as Syscoin / Bitbay / Amazon / potentially BlockV).
Imagine telling friends and family that you’ve just invested in a well established search engine called AltaVista because you think it’s the best in the world, but hadn’t looked at Google! Always good to understand who the leaders, innovators and competitors are.
Not trying to FUD here or debate Safex or market philosophy. I’ve already built what I think is a good long term investment in Safex and don’t see anything changing that anytime soon. I’d like this investment to be something I hand over to my son when he turns 21 in 20 years and 7 months
I think there are pros and cons to the various ways in which Safex is distinguishing itself, but on the whole, I love the aim and direction that Dan and the Safex team are taking to get where they want Safex to be.
I just wanted to see if anyone was up on the latest hyped up ICO. I think that it is going to make a lot of waves, so reckon it is worth understanding more if it is in the same space as Safex (perhaps not, but that’s why I wanted to see what everyone thinks).
Always good to understand who the leaders, innovators and competitors are.