MasterCard with BitUSD? could be with CCEDK

[karnal]

Smartcoins can represent the fiat based portions of Bitassets. So it's a subset of the Bitasset class. By defining the different classes you more easily market to different segments.

Now this makes sense.

[Pheonike]

Smartcoins can represent the fiat based portions of Bitassets. So it's a subset of the Bitasset class. By defining the different classes you more easily market to different segments.

[robrigo]

Save your money on this if you're in the USA. I can spend only 250 Euro per year from it.

Residents from the following countries may order cards, but may not raise card limits to level 2: Afghanistan, Albania, Algeria, Angola, Cambodia, Ecuador, Guyana, Indonesia, Iran, Iraq, Kuwait, Democratic People's Republic of Korea, Lao People's Democratic Republic, Myanmar, Namibia, Nicaragua, Pakistan, Panama, Papua New Guinea, Romania, Sudan, Syrian Arab Republic, Uganda, United States and Minor Outlying Islands, Yemen, Zimbabwe.

[mint chocolate chip]

I like the SmartCoin name. it's something non-crypto people can associate with.

To give but a few examples, HANGSENG, OIL and GOLD do not fit the mold of 'coin' very well.
BitAsset was more neutral and expansive.

Arguably, it also sounded better. 

You can think of SmartCoins as a consumer-friendly brand name for a class of BitAssets.

I like the name a lot, the connection to being able to invest in SmartCoins with a smart phone makes me feel, well smart.

[Stan]

I like the SmartCoin name. it's something non-crypto people can associate with.

To give but a few examples, HANGSENG, OIL and GOLD do not fit the mold of 'coin' very well.
BitAsset was more neutral and expansive.

Arguably, it also sounded better. 

You can think of SmartCoins as a consumer-friendly brand name for a class of BitAssets.

[svk]

I like the SmartCoin name. it's something non-crypto people can associate with.

To give but a few examples, HANGSENG, OIL and GOLD do not fit the mold of 'coin' very well.
BitAsset was more neutral and expansive.

Arguably, it also sounded better. 

Agreed

Although bitAssets are familiar to us now I don't think the Average Joe will get much from it. SmartCoins does allow the user to make a mental image in a way bitAsset does not, vague though it may be, although I must admit I'm not a big fan of the name.

[openledger]

And, what else do you need to begin working on making a UnionPay card available?
If you guys want to capture that market, you gotta act now!

We try to put focus on it all step by step, and although Unionpay is a great product, we will have to work it according to our time scedule as we are limited in hours per day to get all done as quick as we really wish. So dont worry, we will try to do all we can to work with Unionpay a.s.a.p.

[openledger]

Do you have an idea when the bitEUR/USD/CNY cards will be available?

First we need the market created on CCEDK establishing steady liquidity in both buy and sell walls, for which we need the support from as many Bitshares members as possible, and at the same time the bitcoin debit nanocard is out there being tested good at the moment and a great way for everybody to find out how it works prior to signing up for the future nanocar supported by the bitassets.

Bottom line is I hope that we can have a card out there within a few months counting on all of you guys to start making a run on exchange creating ongoing transactions on both buy and sell walls.

[openledger]

Other than that, will the NanoCard take advantage of https://bitshares.github.io/technology/recurring-and-scheduled-payments/ ?

It is all part of ongoing talks at the moment

[karnal]

I like the SmartCoin name. it's something non-crypto people can associate with.

To give but a few examples, HANGSENG, OIL and GOLD do not fit the mold of 'coin' very well.
BitAsset was more neutral and expansive.

Arguably, it also sounded better. 

[fav]

I like the SmartCoin name. it's something non-crypto people can associate with.

[karnal]

Thanks very much for your comments, I appreciate them all, sorry for not getting back to you any earlier..

How about calling it like this:

A SmartCoin™ Debit NanoCard MasterCard with no volatility risk – A possible Gamechanger! - http://www.reddit.com/r/BitShares/comments/394zoc/a_smartcoin_debit_nanocard_mastercard_with_no/

I'm not very fond of this new SmartCoin term tbh.

Other than that, will the NanoCard take advantage of https://bitshares.github.io/technology/recurring-and-scheduled-payments/ ?

If so, forget the moon.. we're going to Betelgeuse!

Do you have an idea when the bitEUR/USD/CNY cards will be available?

And, what else do you need to begin working on making a UnionPay card available?
As you know the Chinese guys are full force in crypto, once the news of the new features percolates a little bit, you will no doubt face heavy competition from Chinese exchanges who'll offer similar products.

If you guys want to capture that market, you gotta act now!

[Permie]

Some kind of UIA backed by the trust that a group of elected delegates/oracles will sign the appropriate multisig transaction to issue profits to investors?

Sound great but may come with legal difficulties depending on the operating country ..
maybe also add @Shentist and @monsterer to that discussion ..

Thats right.  I considered doing this but I'm really just not interested in the legal headache it might require.  I'm sure someone will eventually though.

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

I am not a trader .. maybe @riverhead or @xeldal can help out here .. afaik they run market makers on the DEX

The obvious Arb routes (that involve the DEX) I'm seeing are:

CCEDK_buy(BitUSD:USD)  =>  DEX_buy(BTS:BitUSD)  => CCEDK_sell(BTS:USD)
CCEDK_buy(BitEUR:EUR)  =>  DEX_buy(BTS:BitEUR)  => CCEDK_sell(BTS:EUR)
and the reverse of each

There are other routes that don't involve the DEX of course and others that arn't true arbitrage, but "close enough".

Thanks very much!

With all the regulation in developed financial nations, emerging economies will have a significant advantages in things like this.
Maybe the exchange BTC-e would be interested in offering an arbitrage fund that its users could invest in

[Xeldal]

Some kind of UIA backed by the trust that a group of elected delegates/oracles will sign the appropriate multisig transaction to issue profits to investors?

Sound great but may come with legal difficulties depending on the operating country ..
maybe also add @Shentist and @monsterer to that discussion ..

Thats right.  I considered doing this but I'm really just not interested in the legal headache it might require.  I'm sure someone will eventually though.

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

I am not a trader .. maybe @riverhead or @xeldal can help out here .. afaik they run market makers on the DEX

The obvious Arb routes (that involve the DEX) I'm seeing are:

CCEDK_buy(BitUSD:USD)  =>  DEX_buy(BTS:BitUSD)  => CCEDK_sell(BTS:USD)
CCEDK_buy(BitEUR:EUR)  =>  DEX_buy(BTS:BitEUR)  => CCEDK_sell(BTS:EUR)
and the reverse of each

There are other routes that don't involve the DEX of course and others that arn't true arbitrage, but "close enough".

[xeroc]

Some kind of UIA backed by the trust that a group of elected delegates/oracles will sign the appropriate multisig transaction to issue profits to investors?

Sound great but may come with legal difficulties depending on the operating country ..
maybe also add @Shentist and @monsterer to that discussion ..

[Permie]

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

I am not a trader .. maybe @riverhead or @xeldal can help out here .. afaik they run market makers on the DEX

Also, unless I'm missing something I can't see much volume for EUR on the internal exchange using bitsharesblocks.com
Is that normal?

Ehm .. yhea .. for bitEUR that is still "normal" ... there are bitassets that are traded alot like CNY and USD .. and there are all the others .. liquidity is still an issue ..

But a DEX arbitrage would help .. Maybe I can put some funds forward to this too when back from vacation ..

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

I am not a trader .. maybe @riverhead or @xeldal can help out here .. afaik they run market makers on the DEX

Also, unless I'm missing something I can't see much volume for EUR on the internal exchange using bitsharesblocks.com
Is that normal?

Ehm .. yhea .. for bitEUR that is still "normal" ... there are bitassets that are traded alot like CNY and USD .. and there are all the others .. liquidity is still an issue ..

But a DEX arbitrage would help .. Maybe I can put some funds forward to this too when back from vacation ..

Okay great!

Would Riverhead and xeldal benefit from shareholder investment in the fund used for market making?

I'm trying to think of a way bts bulls can be incentivized to pool their funds together to make DEX markets and have the profits shared between the operator and the shareholders who are invested.
Some kind of UIA backed by the trust that a group of elected delegates/oracles will sign the appropriate multisig transaction to issue profits to investors?

[xeroc]

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

I am not a trader .. maybe @riverhead or @xeldal can help out here .. afaik they run market makers on the DEX

Also, unless I'm missing something I can't see much volume for EUR on the internal exchange using bitsharesblocks.com
Is that normal?

Ehm .. yhea .. for bitEUR that is still "normal" ... there are bitassets that are traded alot like CNY and USD .. and there are all the others .. liquidity is still an issue ..

But a DEX arbitrage would help .. Maybe I can put some funds forward to this too when back from vacation ..

[Permie]

BAM:


Double BAM:

Do you know how one could arbitrage CCEDK against the DEX?
I'm looking for instructions that shareholders can follow

Also, unless I'm missing something I can't see much volume for EUR on the internal exchange using bitsharesblocks.com
Is that normal?

[xeroc]

BAM:


Double BAM:

[Permie]

When we reach the point where the card needs produced, we can call it whatever the bitshares holders would  prefer to be creating the biggest impact on the use of it to the whole world, so we will have some fun getting proper name figured out

[openledger]

How about calling it like this:

A SmartCoin™ Debit NanoCard MasterCard with no volatility risk – A possible Gamechanger! - http://www.reddit.com/r/BitShares/comments/394zoc/a_smartcoin_debit_nanocard_mastercard_with_no/

why not just:

A SmartCoin-STABLE™ Debit Nano-MasterCard

When we reach the point where the card needs produced, we can call it whatever the bitshares holders would  prefer to be creating the biggest impact on the use of it to the whole world, so we will have some fun getting proper name figured out

[liondani]

How about calling it like this:

A SmartCoin™ Debit NanoCard MasterCard with no volatility risk – A possible Gamechanger! - http://www.reddit.com/r/BitShares/comments/394zoc/a_smartcoin_debit_nanocard_mastercard_with_no/

why not just:

A SmartCoin-STABLE™ Debit Nano-MasterCard

[openledger]

Great!
And it will be excellent, if you support Unionpay or Alipay. This will open the door to moon!

Alipay we already tried o they will be hard to work with, as they have also publicly said that they dont accept crypto currencies, unless you have news regarding this witin the last half year I guess. Them and competitor is it Tricent or something like this.

Talk about Alipay, I wonder when Baba share can be traded in Bitshares network, that could nice. before it hits the fan an just goes up

I am always looking for ways to reach to the moon, so I am all ready for options, thanks

[xiahui135]

Great!
And it will be excellent, if you support Unionpay or Alipay. This will open the door to moon!

[openledger]

Part of the reason for a danish website with a chinese interface is becasue we would love to show the chinese community that we  want them onboard. I hope the new banking contact will make it possible to bring CNY quickly and with low cost to the exhange as well, but lets see what @btswildpig finds out.

I know also it is planned to add possibility of the card to be denominated not only in EUR and USD but also in CNY, and that would be on both the bitcoin as well as the BITUSD NanoCard.

I think that's the right direction. CNY is big in crypto, not just BitShares. When are you expecting news from the banking contact?

any work via Unionpay will have to come a little later, but no doubt we are already looking into this as well, we just cant do all at once, sadly but true.

That's alright. With a bitXXX card you guys are already ahead of any other exchange I personally know of. Things seem to be moving in the right direction.

Is mastercard not as widely used as unionpay in China? otherwise I see a BitCNY Debit Nanocard issued by Mastercard a potentially strong possibility soon.

In my (limited) experience, I've always had more luck with VISA than MC in China. But in terms of coverage and fees, UnionPay takes the cake.
I heard it is like this in many countries in the vicinity as well.

Either way, IME, it's undeniable that UnionPay is the better choice in the region (coverage/fees).
As a plus, UnionPay is already accepted in many places in Europe too.

Thanks very much for your comments, I appreciate them all, sorry for not getting back to you any earlier..

How about calling it like this:

A SmartCoin™ Debit NanoCard MasterCard with no volatility risk – A possible Gamechanger! - http://www.reddit.com/r/BitShares/comments/394zoc/a_smartcoin_debit_nanocard_mastercard_with_no/

[karnal]

Part of the reason for a danish website with a chinese interface is becasue we would love to show the chinese community that we  want them onboard. I hope the new banking contact will make it possible to bring CNY quickly and with low cost to the exhange as well, but lets see what @btswildpig finds out.

I know also it is planned to add possibility of the card to be denominated not only in EUR and USD but also in CNY, and that would be on both the bitcoin as well as the BITUSD NanoCard.

I think that's the right direction. CNY is big in crypto, not just BitShares. When are you expecting news from the banking contact?

any work via Unionpay will have to come a little later, but no doubt we are already looking into this as well, we just cant do all at once, sadly but true.

That's alright. With a bitXXX card you guys are already ahead of any other exchange I personally know of. Things seem to be moving in the right direction.

Is mastercard not as widely used as unionpay in China? otherwise I see a BitCNY Debit Nanocard issued by Mastercard a potentially strong possibility soon.

In my (limited) experience, I've always had more luck with VISA than MC in China. But in terms of coverage and fees, UnionPay takes the cake.
I heard it is like this in many countries in the vicinity as well.

Either way, IME, it's undeniable that UnionPay is the better choice in the region (coverage/fees).
As a plus, UnionPay is already accepted in many places in Europe too.

[openledger]

Lets not forget that a sizeable portion of our community logs in from 中国, so a bitCNY card via UnionPay would be awesome!

The Chinese community here is and will continue to be part of our continued success. Keep up the good work everyone!!

Part of the reason for a danish website with a chinese interface is becasue we would love to show the chinese community that we  want them onboard. I hope the new banking contact will make it possible to bring CNY quickly and with low cost to the exhange as well, but lets see what @btswildpig finds out.

I know also it is planned to add possibility of the card to be denominated not only in EUR and USD but also in CNY, and that would be on both the bitcoin as well as the BITUSD NanoCard.

any work via Unionpay will have to come a little later, but no doubt we are already looking into this as well, we just cant do all at once, sadly but true.

Is mastercard not as widely used as unionpay in China? otherwise I see a BitCNY Debit Nanocard issued by Mastercard a potentially strong possibility soon.

[karnal]

@ccedk: Any chance you could work with UnionPay as well for these cards in the future?

It's a big thing in Asia.

As I say on the about page on CCEDK, the SKY is the Limit, so lets see what we can do in coming months

I like your style

Some competition against visa/mastercard would be nice. Don't get me wrong, it's already pretty good that you have a biteur/bitusd/bitgbp card on the pipeline, wonderful news indeed.

Lets not forget that a sizeable portion of our community logs in from 中国, so a bitCNY card via UnionPay would be awesome!

The Chinese community here is and will continue to be part of our continued success. Keep up the good work everyone!!

[xeroc]

We do need all Bitshares member's support to make this happen, as it has a lot to do with the ongoing trading activity of the bit asset pair BITUSD in particular but also the other two BITEUR and BITCNY, and ofcourse the Bitshares traded back and forth in EUR and USD.

Could you elaborate? What are the requirements for this to happen?

When can we see a EUR card?

If we have a NanoCard supported by bitcoin denominated in both EUR and USD, I have a feeling it could be the same option with a NanoCard supported by BitUSD then denominated in USD and EUR

And then it is only a question of getting the trading activity started on CCEDK.At least for the time being I prefer not to tell you the minimum amount needed in terms of liquidity needed on exchange on an ongoing basis, but is far from unlikely we could reach this within the next few weeks if community supports the introduction in best way possible. We will from CCEDK side support the community in all the ways possible to bring it up there as well.

Good enough for me

[openledger]

@ccedk: Any chance you could work with UnionPay as well for these cards in the future?

It's a big thing in Asia.

As I say on the about page on CCEDK, the SKY is the Limit, so lets see what we can do in coming months

[karnal]

@ccedk: Any chance you could work with UnionPay as well for these cards in the future?

It's a big thing in Asia.

[openledger]

We do need all Bitshares member's support to make this happen, as it has a lot to do with the ongoing trading activity of the bit asset pair BITUSD in particular but also the other two BITEUR and BITCNY, and ofcourse the Bitshares traded back and forth in EUR and USD.

Could you elaborate? What are the requirements for this to happen?

When can we see a EUR card?

If we have a NanoCard supported by bitcoin denominated in both EUR and USD, I have a feeling it could be the same option with a NanoCard supported by BitUSD then denominated in USD and EUR

And then it is only a question of getting the trading activity started on CCEDK.At least for the time being I prefer not to tell you the minimum amount needed in terms of liquidity needed on exchange on an ongoing basis, but is far from unlikely we could reach this within the next few weeks if community supports the introduction in best way possible. We will from CCEDK side support the community in all the ways possible to bring it up there as well.

[xeroc]

We do need all Bitshares member's support to make this happen, as it has a lot to do with the ongoing trading activity of the bit asset pair BITUSD in particular but also the other two BITEUR and BITCNY, and ofcourse the Bitshares traded back and forth in EUR and USD.

Could you elaborate? What are the requirements for this to happen?

When can we see a EUR card?

[openledger]

With the present gateway to EUR, USD and CNY created we have established the first step in making possible within a few months to offer you all a Debit NanoCard supported by BITUSD and issued by Mastercard.

We do need all Bitshares member's support to make this happen, as it has a lot to do with the ongoing trading activity of the bit asset pair BITUSD in particular but also the other two BITEUR and BITCNY, and ofcourse the Bitshares traded back and forth in EUR and USD.

We offer you following bitshares releated pairs available for trading:

https://www.ccedk.com/bts-usd
https://www.ccedk.com/bts-eur
https://www.ccedk.com/bitusd-usd
https://www.ccedk.com/biteur-eur
https://www.ccedk.com/bitcny-cny

Buy or sell your Bitshares to fiat via BTC pairs on CCEDK doing the exchange with no commission fees:
https://www.ccedk.com/btc-usd
https://www.ccedk.com/btc-eur
https://www.ccedk.com/btc-dkk
https://www.ccedk.com/btc-cny
https://www.ccedk.com/fimk-btc

[karnal]

Imagine the publicity....

Oh I imagine it VERY well....

It must become reality... riches, I see riches in the horizon.

[mangou007]

Imagine the publicity....

Oh I imagine it VERY well....

[karnal]

I really think the direct debit idea would be extremely welcomed.

BitAssets are in a unique position to perform this service and as far as I know no other crypto project supports direct debits.

It's simply a much better match than bitcoin for the job. Imagine the publicity....

[cass]

Much lol
@clains

  

[Permie]

It would...and you know what would go really well with it?

Built-in direct debit in the bitshares protocol, such that the provider of the card can instruct their systems to debit your account (built-in daily withdrawals limit and max amount per transaction included!), pending approval by the user.

That way, no more need to send crypto to the cryptocard company to fund the card..


Maybe it's just me, but...


EDIT: Also good for other kind of services, like monthly recurring bills and what not.. but yeah, I originally thought about this in a card context.
I'd probably never use a normal bank card again.. imagine having debitcard.$yourname and the direct debit order there, where you can specify a) the source account that can issue a debit b) total max daily value and c) max value per transaction.

The funds would be safe in YOUR account, instead of the company. For maximum security it should also be possible to SUSPEND the authorization, such that you would only enable it when you know you'll be using the card ..

Could the wallet hold a basket of bitFiat and when spending choose the most favorable exchange rate to make the purchase?

[xeroc]

Much lol
@clains

[CLains]

when i first encountered BitShares I was like,



but then later on I was like,



but now I am like,

[fav]

It would...and you know what would go really well with it?

Built-in direct debit in the bitshares protocol, such that the provider of the card can instruct their systems to debit your account (built-in daily withdrawals limit and max amount per transaction included!), pending approval by the user.

That way, no more need to send crypto to the cryptocard company to fund the card..


Maybe it's just me, but...


EDIT: Also good for other kind of services, like monthly recurring bills and what not.. but yeah, I originally thought about this in a card context.
I'd probably never use a normal bank card again.. imagine having debitcard.$yourname and the direct debit order there, where you can specify a) the source account that can issue a debit b) total max daily value and c) max value per transaction.

The funds would be safe in YOUR account, instead of the company. For maximum security it should also be possible to SUSPEND the authorization, such that you would only enable it when you know you'll be using the card ..

I would go so far as to think that you are not the first to have this idea ..
But who knows 

I'd instantly convert most of my monthly salary... Awesome idea 

[karnal]

Would be pretty interesting if this is part of the upcoming announcements..

[xeroc]

It would...and you know what would go really well with it?

Built-in direct debit in the bitshares protocol, such that the provider of the card can instruct their systems to debit your account (built-in daily withdrawals limit and max amount per transaction included!), pending approval by the user.

That way, no more need to send crypto to the cryptocard company to fund the card..


Maybe it's just me, but...


EDIT: Also good for other kind of services, like monthly recurring bills and what not.. but yeah, I originally thought about this in a card context.
I'd probably never use a normal bank card again.. imagine having debitcard.$yourname and the direct debit order there, where you can specify a) the source account that can issue a debit b) total max daily value and c) max value per transaction.

The funds would be safe in YOUR account, instead of the company. For maximum security it should also be possible to SUSPEND the authorization, such that you would only enable it when you know you'll be using the card ..

I would go so far as to think that you are not the first to have this idea ..
But who knows 

[karnal]

https://twitter.com/CCEDK_/status/601190973021003776

they will issue NanoCard.eu with bitcoin support later this year I guess, and are openly asking cryptocommunites for their input. if you can, answer their question in above mentioned tweet!

nanocard @ ccedk can already be ordered .. and devs have been made aware of that opportunity elsewhere already ..

But i totally agree ... bitUSD via Mastercard would be .. mindblowing!

It would...and you know what would go really well with it?

Built-in direct debit in the bitshares protocol, such that the provider of the card can instruct their systems to debit your account (built-in daily withdrawals limit and max amount per transaction included!), pending approval by the user.

That way, no more need to send crypto to the cryptocard company to fund the card..


Maybe it's just me, but...


EDIT: Also good for other kind of services, like monthly recurring bills and what not.. but yeah, I originally thought about this in a card context.
I'd probably never use a normal bank card again.. imagine having debitcard.$yourname and the direct debit order there, where you can specify a) the source account that can issue a debit b) total max daily value and c) max value per transaction.

The funds would be safe in YOUR account, instead of the company. For maximum security it should also be possible to SUSPEND the authorization, such that you would only enable it when you know you'll be using the card ..

[mangou007]

Wow... that would be really awesome...  

[cass]

https://twitter.com/CCEDK_/status/601190973021003776

they will issue NanoCard.eu with bitcoin support later this year I guess, and are openly asking cryptocommunites for their input. if you can, answer their question in above mentioned tweet!

nanocard @ ccedk can already be ordered .. and devs have been made aware of that opportunity elsewhere already ..

But i totally agree ... bitUSD via Mastercard would be .. mindblowing!

you can? thought it's just some pre-order stuff for now.

Anyways, we should show them that we want it!

In progress, stay tuned !!

Card will launched mid of june AFAIK!

[fav]

https://twitter.com/CCEDK_/status/601190973021003776

they will issue NanoCard.eu with bitcoin support later this year I guess, and are openly asking cryptocommunites for their input. if you can, answer their question in above mentioned tweet!

nanocard @ ccedk can already be ordered .. and devs have been made aware of that opportunity elsewhere already ..

But i totally agree ... bitUSD via Mastercard would be .. mindblowing!

you can? thought it's just some pre-order stuff for now.

Anyways, we should show them that we want it!

[xeroc]

https://twitter.com/CCEDK_/status/601190973021003776

they will issue NanoCard.eu with bitcoin support later this year I guess, and are openly asking cryptocommunites for their input. if you can, answer their question in above mentioned tweet!

nanocard @ ccedk can already be ordered .. and devs have been made aware of that opportunity elsewhere already ..

But i totally agree ... bitUSD via Mastercard would be .. mindblowing!

[fav]

https://twitter.com/CCEDK_/status/601190973021003776

they will issue NanoCard.eu with bitcoin support later this year I guess, and are openly asking cryptocommunites for their input. if you can, answer their question in above mentioned tweet!