If we are talking the former (market), there are plenty of examples of FAILED marketplaces already, both within the platform of coins and out of them. The idea of a crypto-based ebay, as opposed to Pay-Pal based Ebay, simply doesn't work. Decentralized, even less. Period. Forget it, file, destroy. Never think about it again.
If we are talking about an "exchange" where you can trade crypto for crypto and fiat for crypto and viceversa, we already have several quite established, one partial (Coinbase, only BTC for fiat and viceversa) and one full out (Cryptsy). Now, it seems to me when the adjective, the "magic wand") is added, we are referring to an underground market and/or exchange... and that's just an absurd pipe dream with no viability whatsoever nor practical purpose.
Yes there was -and I understand there still is- Silkroad. And yes, it was/will be put down again and again. There's simply no future in it and, definitely, not for a coin which is bent in reaching mass mainstream adoption and operate within the laws.
I would disagree with you on that.
The reason Ethereum is so successful, because it promises to be the first application that perform smart contracts in a blockchain enabled infrastructure. The center piece of the technology, the entity that creates so much excitement and brought to Ethereum 46,000 BTC that is equivalent to US$ 13.5 million in two weeks is the smart contract concept. What are the primary use cases of smart contracts? Decentralized market places and decentralized exchanges.
Now wonder a whole bunch of VCs and tech entrepreneurs are excited about the technology and Ethereum (check out what the Linkedin founder says about smart contracts at
http://bit.ly/Wdp9tM).
You can call me crazy or whatever you want, but you can't deny the success of Erthereum, and that success is all about smart contracts and decentralized apps. In a smaller scale you can see what is happening in our market - the money is flowing even to ViaCoin (probably from Vericoin) and all they said decentralized exchange.
You are a very smart fellow Barrabas, but I think you have overlooked something in this case so please check your facts, what the technology means and market dynamics regarding to smart contracts and decentralized apps.
Sorry about the poor English again before you point that out :-))