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Offline CoinHoarder

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Bitassets need utility.. Some core services suggestions
« on: September 04, 2014, 08:12:26 AM »

These are some long term ideas- they are things are needed IMO to provide more buying interest to bitassets like USD. It would be cool if this was the first big security- that plans on developing all of these things. ;)

- Payment gateway to quickly convert all bitassets to into Bitcoins. Then bitassets would have all the utility of Bitcoins.. Ie. The Bitcoin infrastructure.. Services, Stores, Etc... Preferably multi signature setup.

- A payment processor or get added to current one. Create ways to spend and receive bitassets.

- Create a hot wallet with client side private keys. Creat an easy way to store them.

- A lightweight client like electrum where users don't have to download the Blockchain. Create a convenient way to store them.

Then maybe more people will buy bitassets, it's a win/win for Btsx

Offline gyhy

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Re: Bitassets need utility.. Some core services suggestions
« Reply #1 on: September 04, 2014, 08:24:55 AM »
 +5%

Offline xeroc

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Re: Bitassets need utility.. Some core services suggestions
« Reply #2 on: September 04, 2014, 08:33:34 AM »
These are some long term ideas- they are things are needed IMO to provide more
buying interest to bitassets like USD. It would be cool if this was the first
big security- that plans on developing all of these things. ;)
No so long term imho

- Payment gateway to quickly convert all bitassets to into Bitcoins. Then
bitassets would have all the utility of Bitcoins.. Ie. The Bitcoin
infrastructure.. Services, Stores, Etc... Preferably multi signature setup.
I've seen plenty of recent talks about ripple gateways and also a bitGLD gateway.
There've also been talk about a 'vending' machine (cant recall correctly .. sth. similar to vennd.io

- A payment processor or get added to current one. Create ways to spend and receive bitassets.
Once the market(s) stabalize and more money flows into bitUSD and other bitFIAT
version, they will probably see the power of it (+10secs confirmation time ..
that has to convince them)

- Create a hot wallet with client side private keys. Creat an easy way to store them.
Not sure what you mean by that, but BM already has plans about multi-sig that
works as easy as darkwallet with bitcoin. I remember a recent dev hangout where
he described the plans. I am sure once all those bugs are fixed they can get
back to coding more and more awesome features into the toolkit.

- A lightweight client like electrum where users don't have to download the
Blockchain. Create a convenient way to store them.
That's also already been discussed and addressed by BM. But AFAIR this does not
have a high priority currently. Although it would greatly simplify their
'webwallet' implementation of the wallet (think of this as a HTML5 version of
the software that works fully in javascript and thus can work on your mobile phone)

Quote
Then maybe more people will buy bitassets, it's a win/win for Btsx
*confirmed* :-)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline CoinHoarder

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Re: Bitassets need utility.. Some core services suggestions
« Reply #3 on: September 05, 2014, 12:31:10 AM »
These are some long term ideas- they are things are needed IMO to provide more
buying interest to bitassets like USD. It would be cool if this was the first
big security- that plans on developing all of these things. ;)
No so long term imho

- Payment gateway to quickly convert all bitassets to into Bitcoins. Then
bitassets would have all the utility of Bitcoins.. Ie. The Bitcoin
infrastructure.. Services, Stores, Etc... Preferably multi signature setup.
I've seen plenty of recent talks about ripple gateways and also a bitGLD gateway.
There've also been talk about a 'vending' machine (cant recall correctly .. sth. similar to vennd.io

- A payment processor or get added to current one. Create ways to spend and receive bitassets.
Once the market(s) stabalize and more money flows into bitUSD and other bitFIAT
version, they will probably see the power of it (+10secs confirmation time ..
that has to convince them)

- Create a hot wallet with client side private keys. Creat an easy way to store them.
Not sure what you mean by that, but BM already has plans about multi-sig that
works as easy as darkwallet with bitcoin. I remember a recent dev hangout where
he described the plans. I am sure once all those bugs are fixed they can get
back to coding more and more awesome features into the toolkit.

- A lightweight client like electrum where users don't have to download the
Blockchain. Create a convenient way to store them.
That's also already been discussed and addressed by BM. But AFAIR this does not
have a high priority currently. Although it would greatly simplify their
'webwallet' implementation of the wallet (think of this as a HTML5 version of
the software that works fully in javascript and thus can work on your mobile phone)

Yes I hope these are not long term goals, because I think they are needed for bitassets to reach parity without too many market restrictions. I think we need to keep it as free a market as possible.

Re: vennd. Something like vennd would be ideal, as bitassets exist you need to convert them to do anything useful with them. The ability of having a service to do this for you automatically makes it a lot easier to spend bitassets, so there is more of a reason to keep your $$ in them. It is hard for alternative coins to get adopted by mainstream companies.. They all seem to go with Bitcoin as far as payment processing. This would allow bitassets to gain business (transaction fees) from this added ecommerce activity and thus make the company more profitable, at the same time it will increase the demand for bitassets.

Re: payment processors/exchanges. There are some multi coin processors that have voting for which cryptos they add. Coinpayments.net for example. We can gather as a community and get enough votes or donations to get supported by them. This may be the quickest way to get a payment processor on board, we just need to get organized. Same goes with getting added to more exchanges would be a good thing as well... Some rather large exchanges have votes and donations to determine what to add.

Re: hot wallet/electrum. I was referring to something like a Blockchain.info wallet when I said hot wallet. Something very convenient as there is no download necessary and no syncing or downloading of the Blockchain. Then, separately something like Electrum that is a program instead of a website, which pretty much does the same thing. In both cases private keys are stored and kept client side. Deterministic public and private keys (like Bitshares) would be a nicer feature too compared to older cryptocurrencys and wallets.

Then maybe more people will buy bitassets, it's a win/win for Btsx
*confirmed* :-)

I'm glad some other people realize this. We need to get organized as a community to get exchange and payment processor adoption. I am going to do a bit of research as to which exchanges and payment processors that allow voting and donations to get added and start some sort of community goals in those regards. There's a thread Re: bitassets low hanging fruit... This is some as all it will take in some cases will be the Bitshares community to go to a website and place votes! An easy way to add utility and liquidity IMO.  :D
« Last Edit: September 05, 2014, 12:44:36 AM by CoinHoarder »

Offline xeroc

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Re: Bitassets need utility.. Some core services suggestions
« Reply #4 on: September 05, 2014, 07:38:13 AM »
Re: payment processors/exchanges. There are some multi coin processors that
have voting for which cryptos they add. Coinpayments.net for example. We can
gather as a community and get enough votes or donations to get supported by
them. This may be the quickest way to get a payment processor on board, we just
need to get organized. Same goes with getting added to more exchanges would be
a good thing as well... Some rather large exchanges have votes and donations to
determine what to add.
Oh .. now that would be nice .. seeing bitUSD at coinpayments ..
We should do that IMHO

Re: hot wallet/electrum. I was referring to something like a Blockchain.info
wallet when I said hot wallet. Something very convenient as there is no
download necessary and no syncing or downloading of the Blockchain. Then,
separately something like Electrum that is a program instead of a
website, which pretty much does the same thing. In both cases private
keys are stored and kept client side.

That is not true for blockchain.info .. They store your privkey in an encrypted
format on THEIR server. IMHO that is a huge security issue that needs ALOT of
trust. I don't use it.
Besides that you are right .. sth like counterwallet, where you have a JS
wallet that takes you 'brainkey' would definitly be a nice idea

Deterministic public and private
keys (like Bitshares) would be a nicer feature too compared to older
cryptocurrencys and wallets.
*confirmed*

I'm glad some other people realize this. We need to get organized as a
community to get exchange and payment processor adoption. I am going to do a
bit of research as to which exchanges and payment processors that allow voting
and donations to get added and start some sort of community goals in those
regards. There's a thread Re: bitassets low hanging fruit... This is some as
all it will take in some cases will be the Bitshares community to go to a
website and place votes! An easy way to add utility and liquidity IMO.  :D
+5%
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline gamey

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Re: Bitassets need utility.. Some core services suggestions
« Reply #5 on: September 05, 2014, 07:52:47 AM »


And realize that we come from a place of bargaining power.   Outside of Litecoin ... what else is there?  They should WANT to integrate BitUSD.  This isn't another fork coin with a few tweaked parameters that the dev is trying to pump.
I speak for myself and only myself.

Offline CoinHoarder

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Re: Bitassets need utility.. Some core services suggestions
« Reply #6 on: September 05, 2014, 08:12:17 AM »
I have created a campaign to get BitsharesX and bitassets adopted by exchanges and payment processors. There is already a list of a few things you can do if you have a little time to get some exchanges to add them.

Please go here and spread the word: https://bitsharestalk.org/index.php?topic=8384.0

Offline xeroc

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Re: Bitassets need utility.. Some core services suggestions
« Reply #7 on: September 05, 2014, 08:32:21 AM »
I have created a campaign to get BitsharesX and bitassets adopted by exchanges and payment processors. There is already a list of a few things you can do if you have a little time to get some exchanges to add them.

Please go here and spread the word: https://bitsharestalk.org/index.php?topic=8384.0
+5%
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Online Shentist

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Re: Bitassets need utility.. Some core services suggestions
« Reply #8 on: September 05, 2014, 05:42:07 PM »
i would suggest that in the future I3 will only pay and accept payments only in bitUSD or bitCNY or ... but not in BTC or PTS or BTSX or...

this will start the demand cycle.

would also be nice if there is a technical solution or integration in the bitsharestoolkit to implement it from the start to accept transfers  in the bitAssets market

like

you can pay bitShares DNS with bitUSD , you can buy bitShares Music with bitUSD, you can play on bitShares Play with bitUSD
« Last Edit: September 05, 2014, 05:52:04 PM by Shentist »

Offline CoinHoarder

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Re: Bitassets need utility.. Some core services suggestions
« Reply #9 on: September 06, 2014, 01:16:28 AM »
i would suggest that in the future I3 will only pay and accept payments only in bitUSD or bitCNY or ... but not in BTC or PTS or BTSX or...

this will start the demand cycle.

would also be nice if there is a technical solution or integration in the bitsharestoolkit to implement it from the start to accept transfers  in the bitAssets market

like

you can pay bitShares DNS with bitUSD , you can buy bitShares Music with bitUSD, you can play on bitShares Play with bitUSD

Yes, more ways are needed to give bitassets more demand. Here is a payment processor form.. Go submit it to Coinpayments.net for BTSX and Bitassets. :)

Quote
Payment processors adopting Bitassets will bring them more utility and people can use them for ecommerce, increasing the likelyhood someone would buy Bitassets. Having Ecommerce on the block chain will increase the rate of deflation as transaction fees are destroyed, thus improving the bottom line of BitsharesX. There are several multi coin payment processors and some have a form for submittal or vote. I will list some of the bigger multicoin payment processors. Payment processors with an automatic coin add form or vote are listed below.

Coinpayments.net
  • Coinpayments.net is the oldest multicoin payment processor, and they also have a form you can submit to get BitsharesX support. Please go submit BitsharesX and bitassets at the following link:
  • https://www.coinpayments.net/coinreq
  • Adoption by this payment processor could mean the ability to purchase items and services with BTSX and Bitassets from these businesses: https://www.coinpayments.net/store-directory.

Altaccept.com
« Last Edit: September 06, 2014, 03:09:16 AM by CoinHoarder »

Offline testz

Re: Bitassets need utility.. Some core services suggestions
« Reply #10 on: September 06, 2014, 10:51:41 AM »
 +5% for https://www.coinpayments.net/vote I think one from dev team should add BTSX and BitUSD with contact details this allow us to be listened faster.

Offline Markus

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Re: Bitassets need utility.. Some core services suggestions
« Reply #11 on: September 06, 2014, 01:19:00 PM »
One thing, fairly easy to implement and creating demand for BitAssets instantly would be:

Allow shorts post their collateral in BitAssets, not just BTSX.

For example if you think the BTC/USD ratio is overvalued and will sink, you can't hedge that in BitShares. It would be cool to be able to short BitBTC against BitUSD. This creates extra demand for BTSX because the BitUSD used in the collateral would have to be created by somebody else in the first place, using BTSX as collateral.

Offline bytemaster

Re: Bitassets need utility.. Some core services suggestions
« Reply #12 on: September 06, 2014, 02:18:00 PM »

One thing, fairly easy to implement and creating demand for BitAssets instantly would be:

Allow shorts post their collateral in BitAssets, not just BTSX.

For example if you think the BTC/USD ratio is overvalued and will sink, you can't hedge that in BitShares. It would be cool to be able to short BitBTC against BitUSD. This creates extra demand for BTSX because the BitUSD used in the collateral would have to be created by somebody else in the first place, using BTSX as collateral.

That would be nice. 
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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