Author Topic: Potential new member for BitShares Exchange Network, if only...  (Read 16851 times)

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Offline btswildpig

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I'm working hard on this deal people, we are talking over 500+ million in yearly funds being moved.

Imagine if it is all bitUSD they were using...

This is the one gamechanger we need. They said yes, provided this option can be made to happen.

Let's do this together and share the reward...before Dublin, when we walk in with the ink dry on it.

Egg and chicken question ?
If bitshares  doesn't have 500 million + * 2 market cap , it can't provide 500 million bitusd .
If bitshares doesn't  have 500 million bitusd , it can't have 500 million + *2 market cap . 
« Last Edit: October 03, 2015, 03:39:30 am by btswildpig »
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Offline Empirical1.2

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What does the employer get out of this? I mean you must have pitched a way to save money increase efficiency..

Because its new tech and certainly not the easiest to understand im curious as to how a big company overcame the burden of technical complexity and fear of new technology by having been provided with what they will benefit from using the technology... Must have been something very lucrative to them to jump in.

What do you think $40 million a month in BitAsset demand would do to the price of BTS? That's lucrative.

If you want to take the island burn the boats

Offline Stan

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hmm One would think Identabit has already solved that 'problem'...

Which is it - they have not or they do not share with you guys?

Spent an hour talking with John tonight. 
We have many resources to consult and we are consulting them all.

:)
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Offline jsidhu

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This is great... +5%

I have a question..

What does the employer get out of this? I mean you must have pitched a way to save money increase efficiency.. However they now would have to provide a ccedk card to all employees right? They would also probably need to pay a cut to the ach service provider? One that may be more expensive than the one they are using today? So factoring this in,  they save money? Or what was the pitch?

Im wondering cause if we know we can bring forth the same arguments to any employer and have good success at conversion.

Because its new tech and certainly not the easiest to understand im curious as to how a big company overcame the burden of technical complexity and fear of new technology by having been provided with what they will benefit from using the technology... Must have been something very lucrative to them to jump in.
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Offline carpet ride

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Can we at least have a "holy explicative deleted" from someone?

Holy shit.

...But I'll save the bubbly for post contract & announcement.  Best of luck!

Holy crap.  This is has huge potential....
« Last Edit: October 03, 2015, 12:44:45 am by carpet ride »
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Offline DMo09

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Can we at least have a "holy explicative deleted" from someone?

Holy shit.

...But I'll save the bubbly for post contract & announcement.  Best of luck!

Offline tonyk

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We've been talking with a potential partner who has only one more requirement the BitShares Exchange Network currently doesn't meet:

What we need is the ability to deposit bitAssets like BitUSD or BitEUR from a wallet account directly into a checking or savings account at a bank through an ACH option.

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments.  When you get direct deposit, it is an ACH deposit

What we need is we need to find some type of service or bridge that can bridge the two. 

As an example: an employer has a million employees and wants to switch their entire payroll system to using our assets. That would mean that employer would need to take currency and load it into their account and then distributed to all of their employees. Then their employees would have the option to deposit it directly into their regular bank checking account, or keep it in their wallet and be able to swipe a card at a point of sale. CCEDK has the card in point of sale deal worked out in regards to integrating with the wallet, but we need to have an ACH deposit option.

If we can get this worked out as soon as possible then BitShares has a very good chance of landing an extremely large client right now. We've already had the talks and they've already agreed as long as we can provide that option.

They are currently using check, direct deposit, and loaded prepaid cards but they want to outsource that to other network partners and do everything in BitAssets.

We could use some research leads on who in the world is a good choice provide ACH deposit off-ramp services to the entire BitShares Exchange Network.

This is not a Summer Announcement, but I do feel a slight Disturbance in the Force.

hmm One would think Identabit has already solved that 'problem'...

Which is it - they have not or they do not share with you guys?
« Last Edit: October 03, 2015, 12:21:27 am by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline lil_jay890

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We've been talking with a potential partner who has only one more requirement the BitShares Exchange Network currently doesn't meet:

What we need is the ability to deposit bitAssets like BitUSD or BitEUR from a wallet account directly into a checking or savings account at a bank through an ACH option.

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments.  When you get direct deposit, it is an ACH deposit

What we need is we need to find some type of service or bridge that can bridge the two. 

As an example: an employer has a million employees and wants to switch their entire payroll system to using our assets. That would mean that employer would need to take currency and load it into their account and then distributed to all of their employees. Then their employees would have the option to deposit it directly into their regular bank checking account, or keep it in their wallet and be able to swipe a card at a point of sale. CCEDK has the card in point of sale deal worked out in regards to integrating with the wallet, but we need to have an ACH deposit option.

If we can get this worked out as soon as possible then BitShares has a very good chance of landing an extremely large client right now. We've already had the talks and they've already agreed as long as we can provide that option.

They are currently using check, direct deposit, and loaded prepaid cards but they want to outsource that to other network partners and do everything in BitAssets.

We could use some research leads on who in the world is a good choice provide ACH deposit off-ramp services to the entire BitShares Exchange Network.

This is not a Summer Announcement, but I do feel a slight Disturbance in the Force.

Obvious answers that were probably already considered... coinbase, circle, itbit maybe paypal.  Circle would be the best since they are now allowed to hold USD.

Offline Stan

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Can we at least have a "holy explicative deleted" from someone?
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Murderistic

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I'm working hard on this deal people, we are talking over 500+ million in yearly funds being moved.

Imagine if it is all bitUSD they were using...

This is the one gamechanger we need. They said yes, provided this option can be made to happen.

Let's do this together and share the reward...before Dublin, when we walk in with the ink dry on it.
« Last Edit: October 03, 2015, 12:03:48 am by Murderistic »

Offline Stan

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We've been talking with a potential partner who has only one more requirement the BitShares Exchange Network currently doesn't meet:

What we need is the ability to deposit bitAssets like BitUSD or BitEUR from a wallet account directly into a checking or savings account at a bank through an ACH option.

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments.  When you get direct deposit, it is an ACH deposit

What we need is we need to find some type of service or bridge that can bridge the two. 

As an example: an employer has a million employees and wants to switch their entire payroll system to using our assets. That would mean that employer would need to take currency and load it into their account and then distributed to all of their employees. Then their employees would have the option to deposit it directly into their regular bank checking account, or keep it in their wallet and be able to swipe a card at a point of sale. CCEDK has the card in point of sale deal worked out in regards to integrating with the wallet, but we need to have an ACH deposit option.

If we can get this worked out as soon as possible then BitShares has a very good chance of landing an extremely large client right now. We've already had the talks and they've already agreed as long as we can provide that option.

They are currently using check, direct deposit, and loaded prepaid cards but they want to outsource that to other network partners and do everything in BitAssets.

We could use some research leads on who in the world is a good choice provide ACH deposit off-ramp services to the entire BitShares Exchange Network.

This is not a Summer Announcement, but I do feel a slight Disturbance in the Force.
« Last Edit: October 03, 2015, 12:04:48 am by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.