Author Topic: Why not pay every active merchants bitUSD?  (Read 462 times)

0 Members and 1 Guest are viewing this topic.

Offline Shentist

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 1605
    • View Profile
    • metaexchange
  • BitShares: shentist
Why not pay every active merchants bitUSD?
« on: December 29, 2014, 09:35:38 pm »
My idea is....

why not pay the merchant for every transaction .10 bitUSD bigger then 10 bitUSD? We could fund it with a paid delegate and will only reward paid transactions from different people.

With this approach we can also attract merchants and can give them something no one can give them - money!

This idea was inspired by a privious discussion to pay users for loading there account with bitUSD. I just thought why not take it from the opposite side.

As an example:

As a merchant i want
1. no fraud transactions - done with Blockchain
2. stable currencx - done with bitAssets
3. convertible - in the making
4. cheap transactions - great we will pay you for creating transaction

at least as long as we run this promotion programm.

I am speaking not to do it now, but after we have the needed tools

1. merchant integration easy
2. light weighted wallet
3. on and off ramps

Offline jsidhu

  • Hero Member
  • *****
  • Posts: 1337
    • View Profile
Re: Why not pay every active merchants bitUSD?
« Reply #1 on: December 30, 2014, 06:35:18 am »
This will pretty much add a premium to usd vs bitusd.. I think no more incentive is really needed other than an eAsy to use merchant gateway into bitshares which what Im working on right now..

remember that it may take years for merchants to fully adopt
the gateways because of full network affect so later merchants will be asking what about me? after the promotion ends. It might be useful once we have
the eyes snd ears of the world to run promotion to take final step into ozone layer
but as a start it already had incentive via blockchain.
« Last Edit: December 30, 2014, 06:39:01 am by jsidhu »
Hired by blockchain | Developer
delegate: dev.sidhujag

Offline monsterer

Re: Why not pay every active merchants bitUSD?
« Reply #2 on: December 30, 2014, 12:44:17 pm »
Remember that every person who holds bitUSD will earn yield anyway, so presumably merchants will always be holding some amount and thus earning on it? Not sure how much, of course :)
My opinions do not represent those of metaexchange unless explicitly stated. | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Gentso1

  • Hero Member
  • *****
  • Posts: 931
    • View Profile
  • BitShares: gentso
Re: Why not pay every active merchants bitUSD?
« Reply #3 on: December 30, 2014, 04:12:49 pm »
No merchant is going to hold bitUSD for some time.

Look at the cycle of bitcoin. Right now, after years merchants accept bitcoin only to exchange it for fiat. I believe the next phase will be that some of these companies will start to hold parts of bitcoin.

Put simply all we need now is a stable wallet and a big ass buy wall for "input your market pegged asset here".  A buy wall for bitUSD at say .95 would allow merchants to start accepting bitUSD without needing to understand the technology. It would promote and expand merchants market to bitUSD users. After some time merchants if they have had a positive experience will naturally want to hold at least some bitUSD, so that they can keep the full value.

Offline Pheonike

Re: Why not pay every active merchants bitUSD?
« Reply #4 on: December 30, 2014, 05:14:56 pm »
I would say reverse that and do it for transaction smaller that $10. This is where fees from credit cards cost them and the consumer the most. That why a lot of places have a minimum amount for credit card purchases.