BitShares Forum
Main => Technical Support => Topic started by: madforstrength on January 27, 2016, 05:21:34 am
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Hi guyz,
I am developing a payment gateway to integrate bitshares in a project. I want to understand how the bitshares transactions will work in real life.
Like A customer comes to purchase a product whose price is $150 now customer wants to pay with bitEUR or any other bitshares currency.
How will transaction work? like should I convert first $150 to bts and then bts to bitEUR?
if yes how can I do that with the API?
I can convert bts to bitEUR or any other cryptocurrency as mentioned by @xeroc in https://bitsharestalk.org/index.php/topic,21177.0.html
But how do I get the bts equivalent of real life 150USD through api?
Or am i missing something?
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Hi guyz,
I am developing a payment gateway to integrate bitshares in a project. I
want to understand how the bitshares transactions will work in real
life.
Like A customer comes to purchase a product whose price is $150 now
customer wants to pay with bitEUR or any other bitshares currency.
How will transaction work? like should I convert first $150 to bts and
then bts to bitEUR?
Certainly not. If your product costs $150, you ask for a tokens that
correlated (read: are pegged) to the $, such as bitUSd (the smartcoin,
market pegged asset), or OPEN.USD (the IOU issued by OpenLedger -
includes counterparty risk but is more liquidity currently).
if yes how can I do that with the API?
I can convert bts to bitEUR or any other cryptocurrency as mentioned by @xeroc in https://bitsharestalk.org/index.php/topic,21177.0.html
But how do I get the bts equivalent of real life 150USD through api?
Or am i missing something?
As a payment service, you probably don't wont to be exposed to BTS
volatility and thus shouldn't touch BTS at all.
If you really want to use the API to trade assets in the decentralized
exchange, you probably want to take a look at
http://python-graphenelib.readthedocs.org/en/latest/exchange.html
or wait for the more powerful API to come soonish (TM)