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Offline bluebit

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Shapeshift API into Bitshares Wallet?
« on: January 31, 2015, 06:54:15 AM »

Is it possible to put the Shapeshift API in the Bitshares Wallet? It would make it easier for people to convert from one asset to the next inside the wallet.
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Offline xeroc

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Re: Shapeshift API into Bitshares Wallet?
« Reply #1 on: January 31, 2015, 12:50:02 PM »
Is it possible to put the Shapeshift API in the Bitshares Wallet? It would make it easier for people to convert from one asset to the next inside the wallet.
I like the idea .. if you can find a developer that knows about javascript/coffee script you can do it on your own and push a code update to the software ..
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Offline graffenwalder

Re: Shapeshift API into Bitshares Wallet?
« Reply #2 on: January 31, 2015, 12:56:56 PM »
Ripple has a similar feature for years now.
https://rippletrade.com/#/exchange

They just straight sell into that market for you.
If there's not a direct market, they sell on one, and buy on the other.

Offline valzav

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Re: Shapeshift API into Bitshares Wallet?
« Reply #3 on: January 31, 2015, 02:43:54 PM »
I had the same idea. I don't see any technical obstacles preventing us to do that.

Offline Rune

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Re: Shapeshift API into Bitshares Wallet?
« Reply #4 on: January 31, 2015, 02:55:01 PM »
I had the same idea. I don't see any technical obstacles preventing us to do that.

Then lets do it ASAP.

With shapeshift API in the wallets it means you can get bitUSD directly from coinbase, and can spend bitUSD directly with every bitpay/coinbase merchant.

It's especially important for mobile wallets since right now theres nothing you can actually use a mobile wallet for since there's nowhere to spend bitusd, but if we put shapeshift API in it and enable it to scan QR codes for btc address + amount and send that to shapeshift and do the shift automatically, then suddenly bitshares mobile wallets are like a decentralized mobile coinbase wallet!

Offline bluebit

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Re: Shapeshift API into Bitshares Wallet?
« Reply #5 on: January 31, 2015, 03:28:35 PM »
I'm not a developer, so I can't do it, but I will vote up any delegate that works on it.
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Offline graffenwalder

Re: Shapeshift API into Bitshares Wallet?
« Reply #6 on: January 31, 2015, 03:53:23 PM »
I had the same idea. I don't see any technical obstacles preventing us to do that.

Then lets do it ASAP.

With shapeshift API in the wallets it means you can get bitUSD directly from coinbase, and can spend bitUSD directly with every bitpay/coinbase merchant.

It's especially important for mobile wallets since right now theres nothing you can actually use a mobile wallet for since there's nowhere to spend bitusd, but if we put shapeshift API in it and enable it to scan QR codes for btc address + amount and send that to shapeshift and do the shift automatically, then suddenly bitshares mobile wallets are like a decentralized mobile coinbase wallet!
The op wanted a way to easily convert one asset into another inside the BTS wallet.
It shouldn't be to hard to implement straight sell orders into BTS to realise this.

I don't think it neccesary to implement the shapshift api into our wallets.

It might be usefull for the mobile wallets.

But for the normal wallet shapshift has already a way to buy anything with bitusd, you could buy with Bitcoin:
https://www.shapeshift.io/lens.html

Edit:

Just tested it, it seems BTS and bitusd are not yet added to lens.
But I recall toast saying that this was just the test phase.
So it probably shouldn't take to long before we can use lens to

« Last Edit: January 31, 2015, 04:09:18 PM by graffenwalder »

Offline Rune

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Re: Shapeshift API into Bitshares Wallet?
« Reply #7 on: January 31, 2015, 04:10:23 PM »
I had the same idea. I don't see any technical obstacles preventing us to do that.

Then lets do it ASAP.

With shapeshift API in the wallets it means you can get bitUSD directly from coinbase, and can spend bitUSD directly with every bitpay/coinbase merchant.

It's especially important for mobile wallets since right now theres nothing you can actually use a mobile wallet for since there's nowhere to spend bitusd, but if we put shapeshift API in it and enable it to scan QR codes for btc address + amount and send that to shapeshift and do the shift automatically, then suddenly bitshares mobile wallets are like a decentralized mobile coinbase wallet!
The op wanted a way to easily convert one asset into another inside the BTS wallet.
It shouldn't be to hard to implement straight sell orders into BTS to realise this.

I don't think it neccesary to implement the shapshift api into our wallets.

It might be usefull for the mobile wallets.

But for the normal wallet shapshift has already a way to buy anything with bitusd, you could buy with Bitcoin:
https://www.shapeshift.io/lens.html

Simplicity is key though. People might not even know shapeshift exists when they get the bitshares wallet.

If we put it straight in the wallet its gonna be extremely easy to use because people wont even know they are using shapeshift. It can also be extended in the future to other bridges, such as the meta-exchange bridge and the dan notestein bridge/gateway that's coming. If they use the same API framework itll be really easy to get a big market going with lots of competition and thus great service.

The only long term concern is that we would need some sort of warning system, so if enough people report that a bridge has stopped processing orders but doesnt return them, then they are cut off from the wallets to ensure people dont lose their money.

Offline graffenwalder

Re: Shapeshift API into Bitshares Wallet?
« Reply #8 on: January 31, 2015, 04:21:14 PM »
Yes it would be great.

The main concern would be the centralized factor.
Shapeshift just takes any coin and sells them on centralized exchanges.
So there's a double trust factor, both shapeshift and the exchanges they use for selling the coins.

On another side note, they might have just solved something another problem for us.
We've wanted shopping cart plugins, for a long time.
The shifty button does exactly that.
https://shapeshift.io/tools.html
However the same concern as above can be applied to this shopping cart.

Offline Rune

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Re: Shapeshift API into Bitshares Wallet?
« Reply #9 on: January 31, 2015, 05:06:14 PM »
Yes it would be great.

The main concern would be the centralized factor.
Shapeshift just takes any coin and sells them on centralized exchanges.
So there's a double trust factor, both shapeshift and the exchanges they use for selling the coins.

On another side note, they might have just solved something another problem for us.
We've wanted shopping cart plugins, for a long time.
The shifty button does exactly that.
https://shapeshift.io/tools.html
However the same concern as above can be applied to this shopping cart.

This isn't a real issue. When they don't actually hold your money the counterparty risk is miniscule. At 0.1% fees and a 1 hour window where they can steal before everyone are alerted (with automation in the wallet this could become minutes) they will only be able to steal 1 months revenue but lose their entire business as a result. So it will never be profitable for them to steal. Because the service won't depend much on branding if its put directly in the wallet, competition will be mostly on fees and reliability. So we will see cutting edge competition and a really low barrier to entry if shapeshift and other incumbents aren't staying on their toes at all times to provide the best possible service.

Getting shapeshift and a framework to allow future bridges directly in the wallet is the most important thing we need right now. Its the single thing that would bring the most value because it would make our wallets attractive to bitcoin users who are tired of volatility but dont want to deal directly with altcoins.

Offline hpenvy2

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Re: Shapeshift API into Bitshares Wallet?
« Reply #10 on: January 31, 2015, 05:21:21 PM »
Yes it would be great.

The main concern would be the centralized factor.
Shapeshift just takes any coin and sells them on centralized exchanges.
So there's a double trust factor, both shapeshift and the exchanges they use for selling the coins.

On another side note, they might have just solved something another problem for us.
We've wanted shopping cart plugins, for a long time.
The shifty button does exactly that.
https://shapeshift.io/tools.html
However the same concern as above can be applied to this shopping cart.

This isn't a real issue. When they don't actually hold your money the counterparty risk is miniscule. At 0.1% fees and a 1 hour window where they can steal before everyone are alerted (with automation in the wallet this could become minutes) they will only be able to steal 1 months revenue but lose their entire business as a result. So it will never be profitable for them to steal. Because the service won't depend much on branding if its put directly in the wallet, competition will be mostly on fees and reliability. So we will see cutting edge competition and a really low barrier to entry if shapeshift and other incumbents aren't staying on their toes at all times to provide the best possible service.

Getting shapeshift and a framework to allow future bridges directly in the wallet is the most important thing we need right now. Its the single thing that would bring the most value because it would make our wallets attractive to bitcoin users who are tired of volatility but dont want to deal directly with altcoins.

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The second important step is to setup with ShapeShift LENS. Anywhere a customer could pay with Bitcoin they could also pay with BitUSD.

Offline bitmarket

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Re: Shapeshift API into Bitshares Wallet?
« Reply #11 on: January 31, 2015, 06:07:56 PM »
May I make a suggestion....

You are looking at the wrong end of the horse.

A bitshares wallet that does X attracts about 500 eyeballs.

A bitcoin wallet that does X attracts 100,000's of eyeballs.

We need to build a bitcoin wallet.  branded as a bitcoin wallet, that allows hedging of bitcoin with no counterparty  risk.   Bitshares is never mentioned.  perhaps bitusdis mentioned, but it is certainly not front and centre.   IF we do that then we begin a stampede into bitUSD on the next bitcoin price drop.   And we dont have to pay a penny in advertising.  Coindesk, word of mouth and reddit will do all the work for us.   You won't be able to get Barry Silbert and every other pundit to shut up about how bitcoins volatility problem has been solved on CNBC.

Not one penny of advertising needed.

And the good news is it is 90% done.
bitshares lite wallet is in final testing.
shape shift API and lens code is open source and ready to use.   And I have a friend with an established bitcoin wallet that is open source. He cannot dedicate developers to doing this but is happy to pus it live in his existing wallet with thousands of users.   We are talking a month or two tops of development if someone from this community can do that.

Anyone?
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Offline hpenvy2

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Re: Shapeshift API into Bitshares Wallet?
« Reply #12 on: January 31, 2015, 06:15:52 PM »
May I make a suggestion....

You are looking at the wrong end of the horse.

A bitshares wallet that does X attracts about 500 eyeballs.

A bitcoin wallet that does X attracts 100,000's of eyeballs.

We need to build a bitcoin wallet.  branded as a bitcoin wallet, that allows hedging of bitcoin with no counterparty  risk.   Bitshares is never mentioned.  perhaps bitusdis mentioned, but it is certainly not front and centre.   IF we do that then we begin a stampede into bitUSD on the next bitcoin price drop.   And we dont have to pay a penny in advertising.  Coindesk, word of mouth and reddit will do all the work for us.   You won't be able to get Barry Silbert and every other pundit to shut up about how bitcoins volatility problem has been solved on CNBC.

Not one penny of advertising needed.

And the good news is it is 90% done.
bitshares lite wallet is in final testing.
shape shift API and lens code is open source and ready to use.   And I have a friend with an established bitcoin wallet that is open source. He cannot dedicate developers to doing this but is happy to pus it live in his existing wallet with thousands of users.   We are talking a month or two tops of development if someone from this community can do that.

Anyone?

I brought this up a few months ago, let me see if I can dig up the link. Actually, it might have been a topic you brought up and I was trying to push it.  :) I think it came down to resources.  It's one of the most important steps we could take that would add massive liquidity.  I see ShapeShift as a bridge to that eventual step if we can get someone to step up.
« Last Edit: January 31, 2015, 06:20:52 PM by hpenvy2 »

Offline liondani

Re: Shapeshift API into Bitshares Wallet?
« Reply #13 on: January 31, 2015, 06:20:42 PM »
May I make a suggestion....

You are looking at the wrong end of the horse.

A bitshares wallet that does X attracts about 500 eyeballs.

A bitcoin wallet that does X attracts 100,000's of eyeballs.

We need to build a bitcoin wallet.  branded as a bitcoin wallet, that allows hedging of bitcoin with no counterparty  risk.   Bitshares is never mentioned.  perhaps bitusdis mentioned, but it is certainly not front and centre.   IF we do that then we begin a stampede into bitUSD on the next bitcoin price drop.   And we dont have to pay a penny in advertising.  Coindesk, word of mouth and reddit will do all the work for us.   You won't be able to get Barry Silbert and every other pundit to shut up about how bitcoins volatility problem has been solved on CNBC.

Not one penny of advertising needed.

And the good news is it is 90% done.
bitshares lite wallet is in final testing.
shape shift API and lens code is open source and ready to use.   And I have a friend with an established bitcoin wallet that is open source. He cannot dedicate developers to doing this but is happy to pus it live in his existing wallet with thousands of users.   We are talking a month or two tops of development if someone from this community can do that.

Anyone?

 +5%

I like this strategy!

is it too much to ask Multibit,Electrum,Mycelioum etc. for example to integrate it?
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Offline bitmarket

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Re: Shapeshift API into Bitshares Wallet?
« Reply #14 on: January 31, 2015, 06:24:33 PM »
May I make a suggestion....

You are looking at the wrong end of the horse.

A bitshares wallet that does X attracts about 500 eyeballs.

A bitcoin wallet that does X attracts 100,000's of eyeballs.

We need to build a bitcoin wallet.  branded as a bitcoin wallet, that allows hedging of bitcoin with no counterparty  risk.   Bitshares is never mentioned.  perhaps bitusdis mentioned, but it is certainly not front and centre.   IF we do that then we begin a stampede into bitUSD on the next bitcoin price drop.   And we dont have to pay a penny in advertising.  Coindesk, word of mouth and reddit will do all the work for us.   You won't be able to get Barry Silbert and every other pundit to shut up about how bitcoins volatility problem has been solved on CNBC.

Not one penny of advertising needed.

And the good news is it is 90% done.
bitshares lite wallet is in final testing.
shape shift API and lens code is open source and ready to use.   And I have a friend with an established bitcoin wallet that is open source. He cannot dedicate developers to doing this but is happy to pus it live in his existing wallet with thousands of users.   We are talking a month or two tops of development if someone from this community can do that.

Anyone?

 +5%

I like this strategy!

is it too much to ask Multibit,Electrum,Mycelioum etc. for example to integrate it?

We just need to do it for one wallet.  If we do that and open source it, I predict blockchain.info will have it on their wallet by the
 end of the year.
Host of BitShares.TV and Author of BitShares 101

 

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