Benefits of Becoming a BitShares Gateway [posted]

Started by bytemaster, December 06, 2014, 06:21:49 PM

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monsterer

#74
January 19, 2015, 08:43:21 AM
My opinions do not represent those of metaexchange unless explicitly stated.
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

xeroc

#73
January 19, 2015, 08:31:59 AM
Quote from: sumantso on January 18, 2015, 10:58:28 PM
What happened to the BTC/BTS gateway julian was testing?
still operational:
https://bitsharestalk.org/index.php?topic=13251.0

sumantso

#72
January 18, 2015, 10:58:28 PM
Quote from: monsterer on January 18, 2015, 10:26:18 PM
The metaexchange bitAsset/BTC gateway daemon in github is going to be live for testing tomorrow morning :)

Yayy!!!

What happened to the BTC/BTS gateway julian was testing?

monsterer

#71
January 18, 2015, 10:26:18 PM
The metaexchange bitAsset/BTC gateway daemon in github is going to be live for testing tomorrow morning :)
My opinions do not represent those of metaexchange unless explicitly stated.
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

cass

#70
January 18, 2015, 09:07:21 PM Last Edit: January 18, 2015, 11:34:45 PM by cass
is content ready for creating a pretty pdf document .!?
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

donkeypong

#69
January 16, 2015, 05:13:07 AM
Quote from: Brent.Allsop on December 31, 2014, 03:58:57 AM

So a company running a gateway can leverage a user issued asset to do most of its work/security.  In fact, it seems to me, a DAC could do everything, except hold the USD IOU funds in a bank account.  So all that is required, is a co-operating bank, to honor withdrawals and deposit, with IOU user issued assets, as specified by the DAC.  Wow, a bank could make huge interest profits, holding all those funds, for lots of IOUs?  Especially in a fractional reserve fiat currency banking system right?

It seems to me, once banks learn they can do this, directly...

We need to tell this story.

bytemaster

#68
January 16, 2015, 02:04:10 AM
Dan & Eric are making good progress on this front.  Waiting for info from others.
For the latest updates checkout my blog: [url="http://bytemaster.bitshares.org"]http://bytemaster.bitshares.org[/url]
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

hpenvy2

#67
January 15, 2015, 11:14:00 AM
Quote from: clayop on January 10, 2015, 06:54:47 PM
Quote from: oco101 on January 10, 2015, 06:42:10 PM
Any news ?

Also interested in. Which one will be the first bitusd gateway?

Interested in this as well.  Also, we have at least 4 people heading to the Miami conference tomorrow.  Do you see any benefit of pointing potential gateway partners to a central document while they are there?  Everyone from Coinbase to OKCoin will be present.

clayop

#66
January 10, 2015, 06:54:47 PM
Quote from: oco101 on January 10, 2015, 06:42:10 PM
Any news ?

Also interested in. Which one will be the first bitusd gateway?
Bitshares Korea - [url="http://www.bitshares.kr"]http://www.bitshares.kr[/url]
Vote for me and see Korean Bitshares community grows
delegate-clayop

cass

#64
December 31, 2014, 05:52:28 AM
Quote from: bytemaster on December 28, 2014, 04:30:00 PM
It has not been sent to Coinbase yet.   But will be when I follow up with them after the holidays.

+5% pls ping me before sending out, i'll create a design then!
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Brent.Allsop

#63
December 31, 2014, 03:58:57 AM
Wow, this is all exciting stuff.  Here is what I am understanding, let me know if I have anything wrong, or am missing anything:

So a company running a gateway can leverage a user issued asset to do most of its work/security.  In fact, it seems to me, a DAC could do everything, except hold the USD IOU funds in a bank account.  So all that is required, is a co-operating bank, to honor withdrawals and deposit, with IOU user issued assets, as specified by the DAC.  Wow, a bank could make huge interest profits, holding all those funds, for lots of IOUs?  Especially in a fractional reserve fiat currency banking system right?

It seems to me, once banks learn they can do this, directly, they could push out a middle man operator like Coinbase, being completely unnecessary, right?

So is this why people are talking about purchasing a bank or credit union?

nixoid

#62
December 31, 2014, 03:04:41 AM
I agree that process of converting gateway's UIA's (or IOU's) to BitUSD and back should be described in more detail.

I'm not a regular user of BitShares, but as i understand it operates decentralized exchange, similar to ripple and mastercoin. What is the incentive for holders of BitUSD to buy IOU's of not well known gateway?
Unless it's some big and well known company this schema will be failing due to lack of market offers from BitUSD side.

Thanks

bytemaster

#61
December 28, 2014, 04:30:00 PM
It has not been sent to Coinbase yet.   But will be when I follow up with them after the holidays.
For the latest updates checkout my blog: [url="http://bytemaster.bitshares.org"]http://bytemaster.bitshares.org[/url]
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

hpenvy2

#60
December 28, 2014, 04:14:21 AM
Quote from: nz on December 28, 2014, 04:11:36 AM

I believe that this was posted to the BM blog on Dec 18th. I assume that BM sent it to Coinbase shortly afterwards.
Be interesting t hear their feedback.

It wasn't clear to me if it was already sent. If so, could we please changed the OP title to CLOSED?
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