How can ‘normal people‘ purchase something on the marketplace ? Where did they get their SFX from? The average internet-consumer will not sign up on Coindeal. It’s to complicated. So how can we get buyers ? And will products from the Safex Marketplace be shown on price comparison sites ?
There are a few ways to bring on new buyers.
Mainly from people selling goods that are exclusively sold for Safex Cash.
My answer here will be brief/undeveloped;
Although, there ought to be a “basket” of items people desire and someone wouldn’t buy “just enough” safex cash for a single use.
The main onboarding method will involve the acquisition of say several hundred $ worth, and for product in demand now and with the concept of future product that will be demanded. So why stock up every time you want to buy something, should have a reserve of “internet money” preferably safex over bitcoin.
Like this people will become accustomed to using safex cash frequently as part of the internet experience.
@dandabek a couple of points that are worth clarifying are:
- Why professional sellers would only sell desirable products on the marketplace for Safex Cash ?
- Safex Cash is not a stable coin. Although its emission curve is designed to improve distribution in the long term, in the short/middle term we should expect significant volatility as sfx tokens are traded based on speculation and performance of the marketplace.
Do you expect sellers will fix their prices in sfx or will sfx prices track $ prices?
Either way, why would customers acquire more Safex Cash than needed for a purchase and be exposed to future price volatility?
my answers my questions would be
- sellers would be encouraged to use the market place because of lower fees compared to other e-commerce platforms resulting in better margins for them and better prices for their Safex Cash buyers. Still I expect they sell the same products elsewhere too to achieve the volumes needed to stay in business.
- Safex Cash price volatility should be addressed by marketplace prices tracking $ prices, at least for the first few years, and having a “solid fiat onboarding soltuion”.
Until the market place is fully bootstrapped, fiat onboarding can be centralised, to maximise user experience, reduce friction.
I understand this can be a legal can of worms, but are you guys considering to offer a way to get Safex Cash with VISA or PayPal? I get this is against the values of crypto enthusiasts but it can make a difference in bootstrapping the marketplace in the first couple of years of its life.
Sellers will be able to reach more people on the earth than ever before. Payment is direct and so you can repurchase inventory sooner, and if that supply chain is available on the safex market you will be the fastest to restock and provide service to your customers further.
Technically there is no such thing as a totally stable currency, and with a price peg people can “stabilize” their demands to the currency they prefer.
I think the best place to start with this before the technicalities of buying and selling, is where does Safex bring VALUE ??
This has to be something that sticks in the minds of merchants and consumers just like how amazon sticks in their head based on value they understand today , As we know Safex is leaps and bounds in terms of its value proposition but that needs to be carefully marketed into the minds of millions !
Once you get the public to understand where the value proposition is thats where people start to move to your platform as it adds more value to them from their existing paradigm ,
The problem we have in crypto is that theres too much of we can change the world but very little of what the common man thinks and understands ,
do they really need a platfom like this why ?
What can they do more on this platform oppose to current ones ?
Why should someone care about these tokens ?
What advantage can safex bring in a one word sentance ?
What value can Safex bring me ?
etc etc , once you can answer those questions youll be ready to understand your platform in light of merchants etc , furthermore there needs to be a possible conferance for merchants hosted by safex where Dan can exibit all these questions and more Prehaps
Im just throwing out ideas !
Folks please keep this on topic.
@IZMO_MN I agree with you on all of these points.
This very second I would comment on things like Tokens being taken out of the spot light, and it I imagine the messaging in the direction of -> Decentralizing Jeff Bezos = owning safex tokens.
Since tokens are used in account creation, and title market creation, the new system we are working on is to lock in tokens to create accounts and title markets, and those unlock after several thousand blocks. Like this we dont lose precious tokens too often.
Furthermore, Safex in one sentence is A marketplace decentralized on a blockchain with a borderless cryptocurrency payment system.
I’m in progress refining the messaging with a couple of teams worldwide so getting some good expert advice on that front. More to follow.
You’re absolutely right here. But a more detailed response will be needed, It probably will be seen once the website gets updated with the new language and pathways for new users.
Thanks Dan for that information very happy to see these thoughts, only brings confidence look forward in seeing this. Its very cool to see this picture starting to emerge into a masterpiece of engineering and creating a real purpose for blockchain technology. Keep going totally behind you mate !