Author Topic: Best way to get Cash to bitUSD without a gateway/exchange?  (Read 822 times)

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Offline merivercap

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Found this article today on BitQuick:
http://www.coindesk.com/bitquick-us-cash-bitcoin-market/

I think this is the best route to go... I think a decent % of Localbitcoin transactions go via p2p bank deposits.  I was thinking about creating a business of p2p exchanges via the Abra model (cash to bitUSD Uber-style), but my suspicion is you won't get as much volume initially.  An Abra hub/spoke model still can be used where one person ('teller') gets bitUSD via bank deposits and would spread it out locally to neighbors. 

The other important part of the BitQuick is the multisig escrow.

Anyways you still need people with bitUSD to accept cash bank deposits to spread it out with greater volume and most of the bitUSD access will be via BTC/Coinbase etc, but using the BitQuick model for bitUSD will definitely help get users and liquidity much more quickly.

I'm really excited about setting up a business in this space for bitUSD...
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