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Offline cylonmaker2053

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Merchant Adoption Issues
« on: June 01, 2015, 12:21:45 AM »

Where do we stand on merchant adoption, payment/wallet apps, MSB firms, etc.?  Are we anywhere close to getting something like a BitPay version for BTS or bitassets? I was thinking that the difficulty here is in going from, say, bitUSD --> BTC --> USD for merchants, esp bc of possible market frictions anywhere along that path. It seems like drumming up end user demand for bitassets would be one of the best support paths for BTS and would draw a lot more capital and transactions to make the markets more efficient.

Offline crypto4ever

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Re: Merchant Adoption Issues
« Reply #1 on: June 01, 2015, 04:28:43 AM »
Where do we stand on merchant adoption

Interesting you said "where do we stand".  That's exactly the right attitude. I hope you're planning to get involved and volunteer some of your time to help grow your investment.

Right now to many people are taking a laid back approach by buying BTS and then sitting and waiting for everybody else to run around doing the work.

It seems like drumming up end user demand for bitassets would be one of the best support paths for BTS

I agree. What do you suggest should be done next?  What are you willing to do next?



Offline cylonmaker2053

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Re: Merchant Adoption Issues
« Reply #2 on: June 01, 2015, 04:46:45 AM »
Where do we stand on merchant adoption

Interesting you said "where do we stand".  That's exactly the right attitude. I hope you're planning to get involved and volunteer some of your time to help grow your investment.

Right now to many people are taking a laid back approach by buying BTS and then sitting and waiting for everybody else to run around doing the work.

It seems like drumming up end user demand for bitassets would be one of the best support paths for BTS

I agree. What do you suggest should be done next?  What are you willing to do next?

That's exactly right  :)

My participation in crypto so far has been investing and evangelizing the revolution to anyone who'll listen, but I'd love to get more hands on involved w/BTS. I think the system needs app dev and integration to push merchant adoption, so I may focus on something there. I'd love to get a small DAC concept going this summer, so maybe something in the merchant space? Not sure yet...something useful to create demand for bitassets is the goal! 

Offline BunkerChain Labs

Re: Merchant Adoption Issues
« Reply #3 on: June 01, 2015, 05:00:18 AM »
Where do we stand on merchant adoption

Interesting you said "where do we stand".  That's exactly the right attitude. I hope you're planning to get involved and volunteer some of your time to help grow your investment.

Right now to many people are taking a laid back approach by buying BTS and then sitting and waiting for everybody else to run around doing the work.

It seems like drumming up end user demand for bitassets would be one of the best support paths for BTS

I agree. What do you suggest should be done next?  What are you willing to do next?

NullStreet Journal recent edition showcased all the work the Delegates are doing.

As far as merchant adoption goes.. I think historically part of the issue has been the ongoing development of bitshares to the point that it has not been easy for merchants to get tools to work with. Beyond this though there was also the lack of onoff ramps.. this effectively locks any kind of transactions in the BTS space.. or you could convert to BTC and then to dollars to pay for product and end up with spread losses and transaction charges that end up keeping credit cards just as a better solution.

There is a Delegate though who has developed a series of ecommerce plugins for bitshares bitassets. Again though, without onoff ramps it makes it extremely difficult for a product seller to accept the process unless you are a fanboy and willing to take those extra measures.

It's only very recently that things have improved and infrastructure steps are being made.

I myself have programmers working on something I created called SAFE that will become a system for merchants to utilize in their business that combines our DEX market while removing the need for coupons and discount codes from their marketing. I know that sounds cryptic, but details on it are coming soon in a webinar. :)

Then, there is of course the power of your VOTE. Look at the projects that each delegate represents and if you feel it has value and they are trustworthy and capable in their execution, simply vote for them to join the 101 and get hired by the blockchain to bring that value to bitshares. Projects I am involved with related to delegates include:

VOTE: delegate.dposhub-org - DPOSHub - The source for delegate news and information for the community and worldwide media. More on this will be announced soon.

VOTE: http://vote.bunkermining.com - MineBitShares AKA BunkerMining - We currently have referred more real users and brought more real utility to BitShares than any other project.. and we only scratched the surface in proof of concept. Now we need to expand and with further funds and development can double bitshares volume, increase transactions, and drive new users to bitshares from POW, create a new standard for measuring profitability instead of by BTC, and create a new index system that will become a new measure of the crypto space. Think of it like the S&P of crypto. We currently have 1 of 6 new delegate bids we are seeking to be voted in so that we can build this all faster and move into profitability and then leave our delegate positions asap.

There is also what I am doing with www.bunkershares.ca as you can see from my profile.. that however is not a delegate bid.. it will mean however massive exposure and a real case study for bitshares adoption in a real bricks and mortar business.

So I guess like C4E said.. hope you are prepared to help build your investment if you see a viable cause you can contribute too.. go for it. :)
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Offline BunkerChain Labs

Re: Merchant Adoption Issues
« Reply #4 on: June 01, 2015, 05:13:18 AM »
Where do we stand on merchant adoption

Interesting you said "where do we stand".  That's exactly the right attitude. I hope you're planning to get involved and volunteer some of your time to help grow your investment.

Right now to many people are taking a laid back approach by buying BTS and then sitting and waiting for everybody else to run around doing the work.

It seems like drumming up end user demand for bitassets would be one of the best support paths for BTS

I agree. What do you suggest should be done next?  What are you willing to do next?

That's exactly right  :)

My participation in crypto so far has been investing and evangelizing the revolution to anyone who'll listen, but I'd love to get more hands on involved w/BTS. I think the system needs app dev and integration to push merchant adoption, so I may focus on something there. I'd love to get a small DAC concept going this summer, so maybe something in the merchant space? Not sure yet...something useful to create demand for bitassets is the goal!

PM me if you like to talk about some ideas some time. Help however I can.
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Offline cylonmaker2053

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Re: Merchant Adoption Issues
« Reply #5 on: June 01, 2015, 06:00:31 AM »
NullStreet Journal recent edition showcased all the work the Delegates are doing.

As far as merchant adoption goes.. I think historically part of the issue has been the ongoing development of bitshares to the point that it has not been easy for merchants to get tools to work with. Beyond this though there was also the lack of onoff ramps.. this effectively locks any kind of transactions in the BTS space.. or you could convert to BTC and then to dollars to pay for product and end up with spread losses and transaction charges that end up keeping credit cards just as a better solution.

There is a Delegate though who has developed a series of ecommerce plugins for bitshares bitassets. Again though, without onoff ramps it makes it extremely difficult for a product seller to accept the process unless you are a fanboy and willing to take those extra measures.

It's only very recently that things have improved and infrastructure steps are being made.

I myself have programmers working on something I created called SAFE that will become a system for merchants to utilize in their business that combines our DEX market while removing the need for coupons and discount codes from their marketing. I know that sounds cryptic, but details on it are coming soon in a webinar. :)

Then, there is of course the power of your VOTE. Look at the projects that each delegate represents and if you feel it has value and they are trustworthy and capable in their execution, simply vote for them to join the 101 and get hired by the blockchain to bring that value to bitshares. Projects I am involved with related to delegates include:

VOTE: delegate.dposhub-org - DPOSHub - The source for delegate news and information for the community and worldwide media. More on this will be announced soon.

VOTE: http://vote.bunkermining.com - MineBitShares AKA BunkerMining - We currently have referred more real users and brought more real utility to BitShares than any other project.. and we only scratched the surface in proof of concept. Now we need to expand and with further funds and development can double bitshares volume, increase transactions, and drive new users to bitshares from POW, create a new standard for measuring profitability instead of by BTC, and create a new index system that will become a new measure of the crypto space. Think of it like the S&P of crypto. We currently have 1 of 6 new delegate bids we are seeking to be voted in so that we can build this all faster and move into profitability and then leave our delegate positions asap.

There is also what I am doing with www.bunkershares.ca as you can see from my profile.. that however is not a delegate bid.. it will mean however massive exposure and a real case study for bitshares adoption in a real bricks and mortar business.

So I guess like C4E said.. hope you are prepared to help build your investment if you see a viable cause you can contribute too.. go for it. :)

Thanks so much for the info...I really need to get up to speed on the delegate projects, so will start there. Looking forward to hearing more about SAFE :)

The on/off ramp issue is the big one to me. Broad merchant adoption would likely require a low cost way to immediately convert bitUSD to USD (or any other currency/bitasset pair), and like you said the current conversion process is too uncertain and therefore costly, making 3% fee credit cards a better option. So I think long term it'd be good to start thinking about a USD-BTS-bitasset exchange.

Offline cylonmaker2053

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Re: Merchant Adoption Issues
« Reply #6 on: June 01, 2015, 06:02:15 AM »
PM me if you like to talk about some ideas some time. Help however I can.

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Offline jsidhu

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Re: Merchant Adoption Issues
« Reply #7 on: June 01, 2015, 06:11:07 AM »
I forked a lot of the bitpay plugins to work with bitshares for ecommerce sites... So we already have head start in ecommerce direction

The beauty of bts is that we use current checkout currency ie usd and allow payment for the bitasset version ie BitUSD so it's very seamless from a merchant and consumer pov
« Last Edit: June 01, 2015, 06:14:05 AM by jsidhu »
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Offline cylonmaker2053

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Re: Merchant Adoption Issues
« Reply #8 on: June 01, 2015, 06:44:31 AM »
I forked a lot of the bitpay plugins to work with bitshares for ecommerce sites... So we already have head start in ecommerce direction

The beauty of bts is that we use current checkout currency ie usd and allow payment for the bitasset version ie BitUSD so it's very seamless from a merchant and consumer pov

That's awesome! Can you point me to something to learn more?

Offline jsidhu

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Re: Merchant Adoption Issues
« Reply #9 on: June 01, 2015, 02:35:54 PM »
I forked a lot of the bitpay plugins to work with bitshares for ecommerce sites... So we already have head start in ecommerce direction

The beauty of bts is that we use current checkout currency ie usd and allow payment for the bitasset version ie BitUSD so it's very seamless from a merchant and consumer pov

That's awesome! Can you point me to something to learn more?

https://github.com/sidhujag/bitsharescheckout
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Offline cylonmaker2053

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Re: Merchant Adoption Issues
« Reply #10 on: June 01, 2015, 03:13:19 PM »
I forked a lot of the bitpay plugins to work with bitshares for ecommerce sites... So we already have head start in ecommerce direction

The beauty of bts is that we use current checkout currency ie usd and allow payment for the bitasset version ie BitUSD so it's very seamless from a merchant and consumer pov

That's awesome! Can you point me to something to learn more?

https://github.com/sidhujag/bitsharescheckout

#awesome  ...very very cool. now to figure out how to go from bitXXX --> XXX w/out slippage...

 

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