BitShares Forum
Main => General Discussion => Topic started by: kenCode on February 13, 2016, 08:49:04 pm
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
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sell BTS to Ripple
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
Isn't OL operating a gateway now?
I would start with all the Bitcoin onramps and try to get them to add Smatcoin USD.
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
Isn't OL operating a gateway now?
I would start with all the Bitcoin onramps and try to get them to add Smatcoin USD.
Every single one of those is too bitcoin centric
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
Isn't OL operating a gateway now?
I would start with all the Bitcoin onramps and try to get them to add Smatcoin USD.
To it's UIA open.xxx not bitusd,biteur,bitcny smartcoins.
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
Isn't OL operating a gateway now?
I would start with all the Bitcoin onramps and try to get them to add Smatcoin USD.
To it's UIA open.xxx not bitusd,biteur,bitcny smartcoins.
It's impossible for a service to offer the smartcoins because they require collateral. If they get a surge of deposits they can't keep up with it. Atm I see no way for a service to provide those in a 1:1 ration.
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
@tonyk's idea "bitSHARES - As True Shares and Not a Currency!" is the solution in my opinion. Right now (at least in my country) it is very diffucult to create a FIAT<->Crypto gateway mostly because of lack of regulations, or to strict regulations about "money laundering".
It's impossible for a service to offer the smartcoins because they require collateral. If they get a surge of deposits they can't keep up with it. Atm I see no way for a service to provide those in a 1:1 ration.
I think, http://www.transwiser.com/ have 1:1 CNY->bitCNY
Why they can do that?
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i think we need at least one financial institution, or investment group, that can get into the business of taking fiat, creating bitfiat, and do the reverse transaction. i don't see a simple on/off ramp doing it bc of the collateral maintenance issue; it'd take serious liquidity and adept management of positions for them to figure out a business model that can sustain a profit.
this could be possible with a viable bond market. i've just seen some interesting proposals for using the reserve fund to create Bitshares Treasury bills/bonds that pay out fees to holders; an asset like that could solve the business model problem.
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
@tonyk's idea "bitSHARES - As True Shares and Not a Currency!" is the solution in my opinion. Right now (at least in my country) it is very diffucult to create a FIAT<->Crypto gateway mostly because of lack of regulations, or to strict regulations about "money laundering".
It's impossible for a service to offer the smartcoins because they require collateral. If they get a surge of deposits they can't keep up with it. Atm I see no way for a service to provide those in a 1:1 ration.
I think, http://www.transwiser.com/ have 1:1 CNY->bitCNY
Why they can do that?
It's TCNY now. But in the past they did it with bitCNY yes, I dunno how, I think there was a small fee but I don't think that's enough. That's up to @bitcrab to share if he wants.
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
@tonyk's idea "bitSHARES - As True Shares and Not a Currency!" is the solution in my opinion. Right now (at least in my country) it is very diffucult to create a FIAT<->Crypto gateway mostly because of lack of regulations, or to strict regulations about "money laundering".
It's impossible for a service to offer the smartcoins because they require collateral. If they get a surge of deposits they can't keep up with it. Atm I see no way for a service to provide those in a 1:1 ration.
I think, http://www.transwiser.com/ have 1:1 CNY->bitCNY
Why they can do that?
It's TCNY now. But in the past they did it with bitCNY yes, I dunno how, I think there was a small fee but I don't think that's enough. That's up to @bitcrab to share if he wants.
It was losing them money just as any smartcoin bridge would do as there is no guarantee that you can buy back anywhere near the peg.
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
Use dilution to bribe/incentivize a big exchange to add us.
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more? I'm not aware of a single bridge/on ramp/gateway to any smartcoin.
Isn't OL operating a gateway now?
I would start with all the Bitcoin onramps and try to get them to add Smatcoin USD.
To it's UIA open.xxx not bitusd,biteur,bitcny smartcoins.
It's impossible for a service to offer the smartcoins because they require collateral. If they get a surge of deposits they can't keep up with it. Atm I see no way for a service to provide those in a 1:1 ration.
^This. So the one best idea is...
Allowing bridges to buy BitUSD from the network at $1.0075 (The can sell it at $1.01)
This can be achieved by incentivizing others to provide additional collateral or the reserve pool supplying it itself.
https://bitsharestalk.org/index.php/topic,21453.msg279082.html#msg279082
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
Use dilution to bribe/incentivize a big exchange to add us.
It's not a question of just adding adding a smartcoin bridge.
If I had 10 million dollars or poloniex wanted to add a bridge they couldn't because nobody will create bitassets. the reserve pool will have to do it.
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What is your ONE best idea for us to get more banks, or exchanges (or whatever) that will onramp and offramp fiat with our smartcoins?
Currently, it is VERY expensive to get in and out of fiat with smartcoins and we need to bring some competition to this space.
ONE great idea, please..
What? I thought you don't use fiat anymore. :)
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I want to laugh :P :P :P
you can find BM application funds +5% +5% +5%
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Maker/Taker proposal.. or bond market.
As is.. no go.