Oddbean new post about login | logout I want to buy something online that can only be paid by card but don't have a card or don't want to dox myself. I go to this market and ask someone trustworthy to pay it for me (somehow) and I settle with them in sats. Trust is important because chargeback risk (though it depends on the product/service)
This is what gift cards and services like bitrefil aim to provide. Making it a marketplace is a fraud nightmare that will drive your operational costs to the moon.
I generally agree but what if the participants were my close connections? i can incentivize them with a sat premium
I think there was an amazon service for this. Pay sats for someone to order for your with their amazon account w/ fiat
I think if you limit it to close connections there won’t be any liquidity. Will be very hard to ever find someone on the other end to fulfill your order. Perhaps you find one or two friends willing to do it but my guess would be it doesn’t scale well. There are definitely services that do this but they are full of fraud. Most of the sellers willing to take a 10%+ haircut on their Amazon to BTC conversions were using stolen money (phone tech support gift card scams etc).
Yeah Purse (https://purse.io/) by some bcashers but now that I check they pivoted to a "blockchain utility newsletter" lmao In any case I want something more general and limited to my close trusted people
I think it’s a REALLY challenging business model. Even more if you’re doing it as a VC funded public facing business. Paxful does a lot of this type of thing too and is known as the go-to spot to swap stolen giftcards.
I don't think we're talking about the same thing. Maybe I shouldn't have used the word "market". I'm only interested in my close connections knowing that I want something be paid with their cards, and give them sats (with a premium perhaps) for that I don't even think it should be a VC funded business, just an open tool for coordination
Oh ok, that's something different indeed. Cool. Actually sounds like a feature for @OpenSecret group chats 🤔
Yeah I understand, I’m just giving some examples of businesses that were built around the concept and some of the challenges. Not saying that = what you have in mind. Nothing wrong with a small local coordination tool for just within your small group of friends.