Mind Your Store

The Rare Pepe Blockchain Trading Group on Telegram is the center of the rarepepe universe. It’s where newcomers go to figure out “what the hell is this rare pepe project”; it’s where card creators unveil (and shill) their rares.  It’s where we discuss matters big and small.

Yesterday (or the day before) community members were bitching about holders “dumping” their cards. I want to weigh in on this.

Your Own Store (and no lease to sign!)

The DeX is an open marketplace. It is very easy and (cheap!) to get involved as a shopkeeper. (Anyone who makes a pepe (or any XCP token) is a shopkeeper.)  There is no rent to pay. No lights to keep on, no insurance to pay for. And the best part, to me anyway, is you don’t need to hire anyone. No employees, practically no overhead, easy to use and available worldwide. What is there to dislike about this marketplace?

Marketplace? When Moon?

A marketplace needs traffic. However nice your wares if there is no traffic there are no sales. The DeX is old hat to a small group of people. To most people involved in crypto, the DeX is mystifying. It takes bitcoin’s promise of peer-to-peer value-transfer to another level. Not only can you transfer value from yourself to someone else, you can create what you are transferring. You can make your own asset and put it up for sale in a marketplace that is accessible to anyone no matter where they live. XCP and the DeX are on the “bleeding edge” of cryptocurrency, if not technically (although I say it is), definitely socially. A powerful tool secured by the Blockchain, the most powerful network in the world, that anyone can use. With all these good things going on, why are things so slow? Traffic! There isn’t as much traffic as we’d like. The shop is empty a lot.

You are a rarepepe ambassador

The number of people in the world that understand how to use XCP and the DeX is small. That is a fact that is not in dispute. Hell there aren’t enough people in the world that understand bitcoin, not really. In order to use counterparty and the DeX, you need to understand how bitcoin works and then you have to find out about counterparty and then you have to choose to participate and follow through. Can you see that this will make the pool of participants relatively small? Be heartened though. Even though our numbers are small, we are growing.

XCP has always had organic growth. The recent hire of a community outreach coordinator is good news. The CIPs that are being implemented is good news. (Especially the memo field - a recent implementation that will make it easier and cheaper for centralized exchanges to offer XCP tokens.) The general growth of bitcoin bodes well for XCP. Most bitcoiners will eventually find a use for the DeX. It WILL be a long, sometimes slow road to the promised land where there are no intermediaries and the marketplace is busy.

Why so slow? When moon?

What would you do if you walked into a store that had nothing for sale? There’s no one at the counter and the shelves are empty. There’s nothing you can do but walk out. I suppose you could go on telegram and cuss everyone out. Either way, it’s not growing the community.

Right now if someone did find rarepepe and they decided they wanted to start collecting they would be shit out of luck. There are a lot of rares that can’t be bought at any price because the card creators aren’t minding their store. There are too many cards with no offers.

There are a lot more rares that are offered at ridiculous prices. The choice to the average newcomer is pay a king’s ransom for a few cards or don’t buy anything. Yes pepes are free to enter bids but most people don’t. They want to buy a card. They do not want to enter a bid and maybe get a card.

Maybe it’s the possibility of paying a TX fee with no guarantee of getting the card. Maybe it’s simply an education and experience issue and they’re uncomfortable entering bids? SegWit will help with the first problem. Overall growth of cryptocurrency will help with the second.

What is the RareAF Buyers’ Club doing to help the market mature?

If we have multiples of a card and there are no offers on the DeX, we make an offer so that if someone wants to buy a card they will be able to. If someone is offering a 100 issuance card at 50XCP, we will come with an offer that is much more reasonable. By definition that is undercutting. I don’t like to do it but I feel obligated to protect newcomers. We need them. We need to grow and, to a reasonable degree, we need to be fair.

When I was a broker in the 90s the term on my desk was “rip their faces off.”  I think that was, and still is, a common attitude.

You can get away with that in a busy marketplace but you can’t do it when the customer pool is small. I’ll save the “it’s not fair” and the “it’s not right” arguments. I put forth that it’s just not possible to operate successfully with that attitude. You can high gross a customer once or twice but they won’t be coming back.  

What we need is a growing contingent of buyers and cards that are reasonably priced. The RareAF Buyers’ Club will continue to enter bids that support the market. But bids are not the only thing this market needs: we also need the artists and card creators to be active participants and we need reasonable prices. Maybe then Moon.