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Offline Overthetop

Do we need a BitPay?
« on: September 24, 2014, 03:56:35 AM »

BitAssets bring us more stable exchange rate than Btc , this is a great advantage.

To make BTS ecosystem stronger and bigger, I think we need bitpay like cooperative agencies to promote BitAs.

Based on the stablility of  the value of BitAs, the bitpay like payment platform would get more customers than bitPay .

In the other hand , we need such a payment platform to realize the requirements of turning BitAs into FIAT efficiently.

So, IMHO, if we got one bitpay like payment platform , BTS will grow much  stonger. and even, we can think about cooperating with BitPay directly?

Thoughts?

« Last Edit: September 24, 2014, 04:01:04 AM by Overthetop »
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Offline Mysto

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Re: Do we need a BitPay?
« Reply #1 on: September 24, 2014, 06:48:40 AM »
Yes that's a great idea. It would be nice not to have to jump through several hoops to get BTSX. First you need to go through something like coinbase to get BTC from fiat then you need to exchange that to get BTSX and all the fees that have to be paid out. A more direct approach would be greatly welcomed and would most definitely help BTSX grow faster.

Offline JA

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Re: Do we need a BitPay?
« Reply #2 on: September 24, 2014, 06:55:59 AM »
https://support.bitpay.com/hc/en-us/requests/new
i already wrote one

but it doesn't hurt to make more requests.

Offline xeroc

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Re: Do we need a BitPay?
« Reply #3 on: September 24, 2014, 07:01:28 AM »
Agreed .. a payment processor is needed .. but maybe not yet .. although people should start considering to set one up ..
The only thing that hinders adoption currently are the inconveniences of the wallet .. once these are fixed and no further hard forks are incoming mass adoption can come [/imho]
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Offline testz

Re: Do we need a BitPay?
« Reply #4 on: September 24, 2014, 11:40:41 AM »
Just get reply  :)
Quote
Hello,
 
Please consider to add BitShares BitUSD, more information you can read here: http://wiki.bitshares.org
http://coinmarketcap.com/assets/bitusd/
Or even better, ask any question which you have in our big, open and very nice community: https://bitsharestalk.org
Thanks in advance.

Regards,
TestZ

Quote
Hello,

Thank you for the suggestion. We currently do not have plans to begin accepting Bitshares, but we do understand that competition among the currencies is important.
Thank you again for reaching out and for your interest in BitPay.

Thanks,
Elyse Giles
Client Operations Analyst
BitPay, Inc.
« Last Edit: September 24, 2014, 11:48:19 AM by testz »

Offline xeroc

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Re: Do we need a BitPay?
« Reply #5 on: September 24, 2014, 11:46:18 AM »
payment processors are supposed to take bitUSD and bitEUR or bitCNY .. not bitsharesX (nor bitshares!!!)
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Offline testz

Re: Do we need a BitPay?
« Reply #6 on: September 24, 2014, 11:48:57 AM »
payment processors are supposed to take bitUSD and bitEUR or bitCNY .. not bitsharesX (nor bitshares!!!)

Sorry, I forget to post my question: https://bitsharestalk.org/index.php?topic=9259.msg120142#msg120142

Offline xeroc

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Re: Do we need a BitPay?
« Reply #7 on: September 24, 2014, 12:27:12 PM »
conclusion: THEY don't get it! .. too bad .. maybe our fault .. it seems we need to do ALOT more education of "bitshares"
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Offline Empirical1.1

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Re: Do we need a BitPay?
« Reply #8 on: September 24, 2014, 12:37:41 PM »
conclusion: THEY don't get it! .. too bad .. maybe our fault .. it seems we need to do ALOT more education of "bitshares"

They probably get it :)

BitPay mainly exists to remove volatility for merchants accepting BitCoin and to speed up transactions for customers.

BitUSD with 10 second confirmations probably makes them obsolete.

Offline Mysto

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Re: Do we need a BitPay?
« Reply #9 on: September 24, 2014, 12:49:30 PM »
conclusion: THEY don't get it! .. too bad .. maybe our fault .. it seems we need to do ALOT more education of "bitshares"

They probably get it :)

BitPay mainly exists to remove volatility for merchants accepting BitCoin and to speed up transactions for customers.

BitUSD with 10 second confirmations probably makes them obsolete.

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Ggozzo

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Re: Do we need a BitPay?
« Reply #10 on: September 24, 2014, 06:06:52 PM »
We need a coinbase like exchange for bitUSD to USD and other fiat first. I would love to do this, although, beyond registering as a Money Business and maintaining compliance in my state and with FinCEN, I have no clue how to create a website for that.

Offline matt608

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Re: Do we need a BitPay?
« Reply #11 on: September 24, 2014, 06:58:50 PM »
We need a coinbase like exchange for bitUSD to USD and other fiat first. I would love to do this, although, beyond registering as a Money Business and maintaining compliance in my state and with FinCEN, I have no clue how to create a website for that.

Sounds like you know how to do half of it already, I'm sure the other people needed to do this aren't hard to find.  A coinbase for bitUSD would be awesome.

Offline bigcat

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Re: Do we need a BitPay?
« Reply #12 on: September 24, 2014, 07:32:05 PM »
We need a coinbase like exchange for bitUSD to USD and other fiat first. I would love to do this, although, beyond registering as a Money Business and maintaining compliance in my state and with FinCEN, I have no clue how to create a website for that.

An exchange that stores and handles fiat USD has too much work to do. I believe bitUSD is more suitable for peer to peer transactions. Developing a peer-2-peer transaction site will be helpful, or simply contact localbitcoins.com to see if they can add bitUSD.

The reasons why localbitcoins is not widely used, from what I believe, are the bitcoin price fluctuation and the time needed to complete transaction. Using such a service you can't expect to complete transaction in real time, and at the time transaction ends bitcoin price can be far from what was initially negotiated, thus always making it unfavorable to one party. bitUSD doesn't have fluctuation problem and should be suitable for peer-2-peer trades.

Another drawback for fiat is bank transfer delay. We should think about providing bitBTC/BTC trading so that a peer-2-peer transaction may be completed much more rapidly.

Offline matt608

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Re: Do we need a BitPay?
« Reply #13 on: September 24, 2014, 08:06:43 PM »
We need a coinbase like exchange for bitUSD to USD and other fiat first. I would love to do this, although, beyond registering as a Money Business and maintaining compliance in my state and with FinCEN, I have no clue how to create a website for that.

Developing a peer-2-peer transaction site will be helpful, or simply contact localbitcoins.com to see if they can add bitUSD.


Nice idea.  I see the domain http://localbitusd.com/ has been taken by a domain squatter.

Offline Mysto

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Re: Do we need a BitPay?
« Reply #14 on: September 24, 2014, 08:11:59 PM »
We need a coinbase like exchange for bitUSD to USD and other fiat first. I would love to do this, although, beyond registering as a Money Business and maintaining compliance in my state and with FinCEN, I have no clue how to create a website for that.

Developing a peer-2-peer transaction site will be helpful, or simply contact localbitcoins.com to see if they can add bitUSD.


Nice idea.  I see the domain http://localbitusd.com/ has been taken by a domain squatter.

I was going to say http://localbitshares.com/ or http://localbitassets.com/ would be a better name,
but of course....

 

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