So I think I understand that merchants can accept bitAssets, but turning them all into gateways is not a path to go down (yet).

The company that creates this POS app, could also be the finCin registered buyer.

This removes the gateway aspect but actually makes the merchants life easier.

It seems there are a few percentage points to play with here (at first glance we might have a profitable company here and we don't have to be in the trenches trading like bitPay to make money).

Key Mail is pretty good, rhymes with Email, can reasonably say its short for “Keyhotee"

I was thinking about all the shop owners out there that could benefit from accepting bitUSD.  This includes businesses that do not like bitcoin and are skeptical of cryptocurrencies. 

I was thinking we could have an app for these merchants, that has a really simple interface for invoicing and receiving bitUSD, as easy as checking Facebook or whatever.  All they need is to feel safe that the transaction has gone through.

Now here is the twist, We connect this app to a website map, and their bitUSD balance is updated in real-time.  Essentially advertising that they have bitUSD for exchange.

Then internet money enthusiast walks into the store, gives them cash for their bitUSD.

The store owner really just had to install and app and learn how to use it (with a friendly explanation from one of us in the Invictus street team)

The BitUsd will actually enter and exit their registers on autopilot.  Because 1:1 transfer is attractive, their cash registers should clear of any bitUSD everyday.  (It is also efficient, as presumably this shop owner was making a daily trip to the bank anyway).

If they exchange bitUSD 1:1 (which should be encourage or default for "non-crypto" store owners, people that just want to tap bitUSD market, but are not interested in what crypto can do for them).

This could effectively turn every cash register in the USA a gateway to BitX, and also makes all BTS spendable at any business that is doing this program.


The only weak point is that person A might not want to exchange 1:1 when he/she is actually buying something, because bitUSD should probably be worth a little more than USD.

Still person A will still get hungry etc, and still might find buying pizza at 1:1 is still easier/cheaper than some convoluted way of getting a few extra dollars out of a central exchange point, etc...



anyway...  is this a good idea?

Recent attacks have shown that 10x collateral requirement may be too much... so assume it is down to 3x which means that you can go short using 50% of your collateral.   You still earn dividends from transaction fees with your collateral.  So this means you get a solid yield and can leverage it up to some extent but not to the point of causing too much risk.

 
wow this will be so attractive to the market

honestly this thing could go institutional

Ahh I see so shorts should still be attracted BitX because they will be earning 5% on their reserves,

So instead of borrowing money.. shorts BECOME lenders,

and that entails the benefits of doing so..

Is that correct?

EDIT:  Is there a way a short's collateral could still be attached (long) to other bitassets (the collateral would still be in BTS afterall)

Obviously this would get complicated, I am just wondering if its a future possibility.

Am I on the team?

This is my second post ITT.

Standing by for directions.

Should I subscribe to this thread/deliver this thread to email so I know what to do?

I'm just glad SEC is there to protect us.  /end sarcasm

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Its like saying I can't trade my property with someone else.  Of course I can.

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