BitShares Forum

Main => General Discussion => Topic started by: drekrob on January 11, 2015, 11:04:52 pm

Title: idea for a service to get bts
Post by: drekrob on January 11, 2015, 11:04:52 pm

I read these comments on reddit today: http://www.reddit.com/r/CryptoCurrency/comments/2rwrny/coinaday_bitshares/cnkzty3
I think they have some truth behind them. Many people probably would like to invest in bitshares, but are deterred by the complexity of it.
So i was thinking about setting up the following service:
-send bitcoin from an address you own the private key to an address supplied by the service.
-the service trades your bitcoin for bts on some exchange like bter
-the service takes the public key from your transaction and generates a bitshares address from it
-the service sends the bts to this address
-there should be some easy way for the user to get proof the bts are now tied to his private key
-the user knows he would be able to load his private key into bitshares at some later stage
This way users who know how to handle their bitcoin could get bitshares without the need to get the client, download the blockchain, registering a user and could use their usual approach for safe storage.
I would appreciate your feedback on this. Are there any technical problems I missed? Do you think there would be enough interest for such a service?

Title: Re: idea for a service to get bts
Post by: Ander on January 11, 2015, 11:07:45 pm

This is basically identical to what you can do on bter already.

Title: Re: idea for a service to get bts
Post by: drekrob on January 11, 2015, 11:15:12 pm

you can allready without registration get an bitcoin address, send coin there and be done? Well i probably should check out the site again, haven't been there for quite some while.

Title: Re: idea for a service to get bts
Post by: Ander on January 11, 2015, 11:23:30 pm

You need to register, yes.

But wouldnt you need to register with your proposed service?  I guess if you can cut that out then you make the process 1 step easier, but that doesnt feel like a very hard step to me.  Maybe I'm wrong.

Title: Re: idea for a service to get bts
Post by: toast on January 11, 2015, 11:25:10 pm

People are already working on this IIRC. Look around the gateway threads

Title: Re: idea for a service to get bts
Post by: drekrob on January 11, 2015, 11:35:31 pm

I will do that, thanks.

It was less about registering, but more about the knowledge needed to receive the bts on a address you own the private key for. The important step would be to calculate the bts address matching your bitcoin private key. Without registering such a service would allow you to buy bts by just sending bitcoin to an address.

Title: Re: idea for a service to get bts
Post by: xiahui135 on January 13, 2015, 04:46:18 am

It is some like shapeshift.io will do.