With the site ending its beta period on Monday, I felt like it's a good time for me to write up my experiences with the site over the past month.
The positives:
- Site core: The site core seems to work pretty well. There was a few temporary hiccups, but overall the different features usually worked well and the site is lag-free. Items purchased from market orders are available immediately after purchase as well.
- Keyswaps: With the addition of depositing/withdrawing CS:GO keys in the key credit system, users can now use the dispenser.tf site to perform keyswaps at good rates. I personally made use of this to exchange over a hundred TF2 keys into CS:GO keys, and I definitely think it's a great feature to keep.
- Bitcoin integrity: The transparency in Bitcoin holdings is a very, very good important feature and I'm glad to see that this feature is available here.
The negatives:
- Low volume: For some items the volume is fine, but the large majority of items don't have nearly enough trading activity. It's not worthwhile to keep in a buy or sell offer for an extended period when you're not even sure if it will fill any time soon.
Solution: Take more aggressive steps to advertise and promote the site.
- Bitcoin delays: I understand that you rely on blockchain.info's API to handle any depositing and withdrawing activity, however if the delay ends up being like 30 minutes for either of those, it kinda is far too long and I know for sure that I'm not the only user affected by these kinds of delays.
Solution: I understand you don't wish to run your own Bitcoin node as of current. Perhaps in the future there will be opportunity to migrate to another service that offers same services as Blockchain, but faster.
- Inventory limitations: I feel like the key market is one of most important markets to consider for dispenser.tf - both csgo/bitcoin and tf2/bitcoin. With free users limited to 10, $5 donators limited to 25, and $50 donators have 300 at start, this greatly limits large sellers from actively trading with lower priced items. This affects not only sellers, but buyers as well - as less supply means higher prices.
Solution: It's hard for me to suggest a specific solution due to the potential limitation of having many bot accounts. (Opskins seems to handle it fine though) My suggestion would be to treat key inventory space separately from other items, and allow every user to have 50 keys in inventory (similarly to the Key Credit system, which also allows 50 keys deposited).
- Bitcoin fees: Is it too early to complain? Starting Monday, any trades on Bitcoin market will have a flat 1% fee for any transactions. This seems a bit overkill, as for a single tf2 key sold for $1.70 the fees would be $0.017.
Again, might not seem like a lot, but some frequent traders literally operate on 3-5 cents profit per key and charging a fee of 2 cents could literally halve their profits.
To draw a comparison, most Bitcoin-Altcoin exchanges tend to run fees that are approximately at 0.2%.
Examples:
Cryptsy - scaling fee from 0.33% to 0.25% dependant on volume ( https://www.cryptsy.com/pages/fees )
Bter - flat 0.2% fee ( https://bter.com/fee )
Bittrex - flat 0.25% fee ( https://bittrex.com/Fees )
Poloniex - flat 0.2% fee ( https://poloniex.com/support/faq )
Suggestions: Either 1.) Provide scaling fees for Bitcoin. 2.) Lower the fees for specific highly traded items on market (like keys).
If required to draw additional revenue, add a fee for Bitcoin withdrawals from site. (which would also encourage some traders to keep their money on site, and to spend it here instead)
Misc suggestions:
- Add an option to buy directly from an user on his profile page. This way, sellers could lead buyers directly to their dispenser.tf page, and users could choose to buy from specific sellers.
https://dispenser.tf/id/76561198052092770
There's definitely some room for an amount selection and a buy button there. ;)
- Work on user experience design. I've heard from multiple users that Dispenser.tf has a poor layout. Again, I'd use Opskins or some other Bitcoin exchanges as a reference in design.
If I had to point out some specific things, it would be these: - There is 3 different menu rows (two top, one on side) which is too many. - There's usage of many nondescriptive icons in the top menu (I literally have to hover to see what they are). - There's a bottom bar that appears when you're trying to deposit items as well, which can be hard to notice as well.
Bugs:
- For CS:GO weapons, the image icon can bug out for some reasons. http://i.imgur.com/CkVyL40.png
- If using lefthandside "Credit" panel to view inventory, "Put on Market" button doesn't work. (does nothing when clicked) Tried several times, and afterwards accessing it from "My Shop" worked. http://i.imgur.com/Grga932.png
There was some other suggestions that I had, but seems like I've forgotten them for now, and the post is getting a bit long anyways.
Overall, dispenser.tf is a pretty good site, and with a little bit of love and care it could become THE hub for Bitcoin related trading. So, Joto, keep up the good work and don't let us down. :)