BitShares Forum

Main => General Discussion => Topic started by: rgcrypto on February 24, 2015, 08:23:03 pm

Title: Fiat Gateways
Post by: rgcrypto on February 24, 2015, 08:23:03 pm

Hi everyone

I have partners who may be interested in building a fiat gateway.
Where does someone go to get more info? Are there plans to have an "out of the box" back-end for this?

They are located in Canada so would we be bound to CAD -> bitCAD gateway?

Title: Re: Fiat Gateways
Post by: robrigo on February 24, 2015, 08:28:11 pm

There's a post about it on bytemaster's blog that is a good starting point.

http://bytemaster.bitshares.org/update/2014/12/18/Benefits-of-Being-a-BitShares-Gateway/

Title: Re: Fiat Gateways
Post by: clayop on February 24, 2015, 08:35:07 pm

Having CAD -> bitCAD is a bridge's work. Gateways are doing like CAD -> GATECAD (UIA)
Similar to bitKRW, bitCAD has a low supply, so that if you choose bitCAD your operation will be quite limited.
My quick tip is, find market maker for GATECAD.

Title: Re: Fiat Gateways
Post by: jsidhu on February 25, 2015, 01:40:17 am

Quote from: clayop on February 24, 2015, 08:35:07 pm

Having CAD -> bitCAD is a bridge's work. Gateways are doing like CAD -> GATECAD (UIA)
Similar to bitKRW, bitCAD has a low supply, so that if you choose bitCAD your operation will be quite limited.
My quick tip is, find market maker for GATECAD.

Create a new UIA to make it work? Why not just make the market for bitCAD? Isn't that what its for?

I'm sure if the guys serious... a dev delegate can work on the backend and help code it up.

No business comes without risk so I believe its best to spend a large portion of the startup cost in buying some BTS to help on the bid side of bitCAD, buy some bitCAD and fill the ASK side... so that when customers come they will have a functional system (and ramp up based on gateway fees, adding more depth on bitCAD over time)... the risk here is that the market maker is fully invested in bitCAD at this point, but thats what a market maker does.

Creating a GATEWAYCAD defeats the purpose I believe of the peg system as the novelty lies in being able to transfer "CAD to the blockchain", that is the sticky that is going to be marketed and help bring customers in for remittance or whatever... this way bitCAD becomes analogous to CAD and easy to understand (it is that in reality) and will be easy to understand rather than some random UIA that customers wont jump into.

Title: Re: Fiat Gateways
Post by: BunkerChainLabs-DataSecurityNode on February 25, 2015, 06:31:17 am

As the majority holder of all BitCAD at present.. I fully support this!

Title: Re: Fiat Gateways
Post by: BunkerChainLabs-DataSecurityNode on February 25, 2015, 06:34:56 am

I even created my own bitCAD logo..

(http://i62.tinypic.com/96gbq1.png) (http://i61.tinypic.com/2qu1a92.png)

The red used in this is the official red of the Canadian flag btw. ;D

Title: Re: Fiat Gateways
Post by: cusknee on February 25, 2015, 02:00:23 pm

I would definitely use BitCad.

Title: Re: Fiat Gateways
Post by: ubits on February 25, 2015, 02:11:50 pm

Quote from: DataSecurityNode on February 25, 2015, 06:34:56 am

I even created my own bitCAD logo..

 (http://i61.tinypic.com/2qu1a92.png)

The red used in this is the official red of the Canadian flag btw. ;D

I like this version better