bitcoin->bitBTC gateway needs testers!

[svk]

What if there is a delegate.gateway for this that will shoulder any fees in this kind of service, so it will be zero fee, 1:1  bitcoin <-> bitBTC
or even give bonus when transferring bitcoin to bitBTC

Why should the DAC subsidize such a service? It is offered by 3rd parties and used by 3rd parties. Let them handle the fees among themselves.

Agreed, while it will be necessary for anyone providing this service to put up some starting capital, once it's up and runnning it should be able to finance itself through fees. Bridges can then compete on fees and on reputation.

[pc]

What if there is a delegate.gateway for this that will shoulder any fees in this kind of service, so it will be zero fee, 1:1  bitcoin <-> bitBTC
or even give bonus when transferring bitcoin to bitBTC

Why should the DAC subsidize such a service? It is offered by 3rd parties and used by 3rd parties. Let them handle the fees among themselves.

[Shentist]

What if there is a delegate.gateway for this that will shoulder any fees in this kind of service, so it will be zero fee, 1:1  bitcoin <-> bitBTC
or even give bonus when transferring bitcoin to bitBTC

pls check my post before.

after the webside is running and the service is function properly we could do it this way. At this point in time we don't need to make money, but don't want to loose also.

[joele]

What if there is a delegate.gateway for this that will shoulder any fees in this kind of service, so it will be zero fee, 1:1  bitcoin <-> bitBTC
or even give bonus when transferring bitcoin to bitBTC

[bitmarley]

In the same way that delegates do price feeds, couldn't they verify bitcoin transactions, thereby making bitcoin trades with bitshares trustless?
https://bitsharestalk.org/index.php?topic=13274

[bytemaster]

so the escrow feature could make crypto gateways trustless?
what is the escrow mechanism?

Doesn't make gateways trustless, but provides a dispute resolution for person to person trades.

[bitmarley]

so the escrow feature could make crypto gateways trustless?
what is the escrow mechanism?

[Shentist]

Escrow is tested and ready for next DVS hard fork. 

great!!

would love to bring the p2p transfers rolling.

[bytemaster]

Escrow is tested and ready for next DVS hard fork. 

[Shentist]

I mean when the gateway is running  the user who transfers BTC, who do they have to trust if anyone?
Could the gateway operator steal btc or fail to function?   

you have to trust us for sure, because we are running this and will use the own funds to make it possible. we are thinking about a p2p solution via escrow in the moment, because we believe it would be great to just trade p2p with only a needed escrow for dispute.

[bitmarley]

I mean when the gateway is running  the user who transfers BTC, who do they have to trust if anyone?
Could the gateway operator steal btc or fail to function?   

[Shentist]

Can someone provide a trust profile of this gateway?

what do you mean with it?

the tech you can check on the github  https://github.com/wildbunny/metaexchange

if you mean the trustworthy of the community members who are in that moment involved (shentist, monsterer)

- you can check our posts and what we are doing for the community

- we are in GER and UK so not much to say at this point in time.

- later on you will get more informations when the side and the gateway/bridge is running for the public!

[bitmarley]

Can someone provide a trust profile of this gateway?

[monsterer]

I played a bit with this service, today.

I realize I did not follow the instructions [partly because my Armory does not provide compresses private keys only the one that start with 5. So does the BTS client  btw when you use wallet_dump_private_key, even though you say it does use compressed ones, maybe internally], anyway with that in mind I used amounts that I really do not care about.

- I dumped the private key, using wallet_dump_private_key, of the active public key of an unregistered BTS account.

- Imported those in the BTC wallet.

-Transferred BTC to the gateway address from there and got the bitBTC.

- Using the GUI sent those bitBTC to metaexchangebtc and got nothing back... :)

No worries, as I said it was a very small amount, just letting you know how it went.

Can you give me the bitshares trx id of the bitBTC that you sent, I'll look into what happened? :)

[clout]

Request them to remove this. It would bring more volume and benefit them also.

Why would we remove the easiest way for people to buy our product? If anything we should suggest they get rid of the the 1% fee on bts withdrawals which is inconsistent with all other withdrawals