BitShares Forum
Main => General Discussion => Topic started by: bitcrab on April 21, 2015, 01:03:32 pm
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I am considering to provide a service under transwiser.com to enable user to do BitUSD/USD.Bitstamp exchange instantly and automatically.
after the service be launched,user can do exchange as this:
1:BitUSD ->USD.Bitstamp, user send BitUSD to a BTS ID, say, bsusd.transwiser, and give ripple address in the memo, in 1 minutes, the according quantity of USD.Bitstamp will be send to the left ripple address.
2. USD.Bitstamp -> BitUSD, user send USD.Bitstamp to a ripple recepient, say bitusd@dotpay.co, using rippletrade client, leaving a bts id in the comment field, about 5-10 minutes later, the according quantity of BitUSD will be send to the left bts id.
it is not difficult to realize this service technically, however, anyone need it? is it worth doing?
Thought?
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+5% +5% +5% +5% +5% +5%
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I am considering to provide a service under transwiser.com to enable user to do BitUSD/USD.Bitstamp exchange instantly and automatically.
after the service be launched,user can do exchange as this:
1:BitUSD ->USD.Bitstamp, user send BitUSD to a BTS ID, say, bsusd.transwiser, and give ripple address in the memo, in 1 minutes, the according quantity of USD.Bitstamp will be send to the left ripple address.
2. USD.Bitstamp -> BitUSD, user send USD.Bitstamp to a ripple recepient, say bitusd@dotpay.co, using rippletrade client, leaving a bts id in the comment field, about 5-10 minutes later, the according quantity of BitUSD will be send to the left bts id.
it is not difficult to realize this service technically, however, anyone need it? is it worth doing?
Thought?
PLEASE DO THIS and provide instructions on how others can do this too!
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I am considering to provide a service under transwiser.com to enable user to do BitUSD/USD.Bitstamp exchange instantly and automatically.
after the service be launched,user can do exchange as this:
1:BitUSD ->USD.Bitstamp, user send BitUSD to a BTS ID, say, bsusd.transwiser, and give ripple address in the memo, in 1 minutes, the according quantity of USD.Bitstamp will be send to the left ripple address.
2. USD.Bitstamp -> BitUSD, user send USD.Bitstamp to a ripple recepient, say bitusd@dotpay.co, using rippletrade client, leaving a bts id in the comment field, about 5-10 minutes later, the according quantity of BitUSD will be send to the left bts id.
it is not difficult to realize this service technically, however, anyone need it? is it worth doing?
Thought?
PLEASE DO THIS and provide instructions on how others can do this too!
+5% +5% +5% +5% and SnapSwap.us-USD too ..... essentially On-ramp and off-ramp in the States .
FYI. giantcrab and his colleges runs one of the earliest Ripple Gateway in China .
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Do it yesterday if possible :)
Sent from my ALCATEL ONE TOUCH 997D
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yes yes yes !
500 knives properly properly
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Please do this! +5%
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it is not difficult to realize this service technically, however, anyone need it? is it worth doing?
good old friend @luckybit asked for a ripple gateway almost a year ago
https://bitsharestalk.org/index.php/topic,7227.0/all.html
so, YES ... do this!
from the linked thread:
Someone was going to setup a USD gateway for Stellar. I pitched them the alternative of setting up a USD gateway for BitUSD with the argument that they wouldn't be liable for IOUs and could mainly perform an arbitrage function. I also pitched that they could provide a BitstampUSD -> BitUSD service...
@bytemaster: could you pitch them again?
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OK, Let's just do it. 8)
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OK, Let's just do it. 8)
+5% +5%
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OK, Let's just do it. 8)
+5% +5%
+5% +5% +5% +5%
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In theory , if r BitStamp Bitcoin Exchange can be credited through ripple gateway , then maybe rippletrade is not needed in the equation , you only need the ripple account name of Bitstamp gateway and the BitStamp Exchange account ID as memo to credit your BitStamp Bitcoin Exchange account with BitUSD and transwiser without even opening rippletrade .
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For US users snapswap is better and easier for deposit and withdrawal.
Also, Bitstamp charges percentage fees for ripple internal transfer. Snapswap doesn't.
Ironically, this service may not be suitable for implementation by a US person without applying for money transmission license. Non-US person not subject to US laws has the advantage to implement it.
You'll need a considerable amount of USD reserve to do this business. Another option is to create an IOU USD asset, say botsusd, just like botscny, and let users trade in the internal market from botsusd to bitusd. Then the service performs as a gateway from ripple IOU USD to bitshares IOU USD.
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+5% go giantcrab! o/
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p2p echange between bitusd and usd
1. pulish exchange bitusd_<->usd information in bts wall
2.find he march exchange by p2p
3.the bitusd seller (use bitusd exhcage usd)mul-sign bitusd to receiver ,agency and himself.
4.after the received the usd form bitusd buyer (use usd exhcage bitusd), send the bitusd to receiver.
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For US users snapswap is better and easier for deposit and withdrawal.
Also, Bitstamp charges percentage fees for ripple internal transfer. Snapswap doesn't.
Ironically, this service may not be suitable for implementation by a US person without applying for money transmission license. Non-US person not subject to US laws has the advantage to implement it.
You'll need a considerable amount of USD reserve to do this business. Another option is to create an IOU USD asset, say botsusd, just like botscny, and let users trade in the internal market from botsusd to bitusd. Then the service performs as a gateway from ripple IOU USD to bitshares IOU USD.
Bitstamp and snapswap both charge 0.2% fees for ripple internal transfer of IOUs issued by them.
but you are right, for US users snapswap is more convenient.
so maybe USD.snapswap is a better choise, we'll consider more and decide...
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Just noticed that snapswap started charging transfer fees since last month. It used to be free.
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+5% +5% +5%