Author Topic: Potential new member for BitShares Exchange Network, if only...  (Read 16843 times)

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Offline tonyk

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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.

I agree Circle is the best option. There withdrawal limits are $3000 weekly for bank accounts and they don't charge transaction fees, although an ACH fee is really only about $0.15.

Humor me here, what would a pitch to circle look like? What would be their incentive (in the grand scheme of things?)  I'm genuinely curious.

Are you trying to point out that a free road trip won't suffice in this case?

... and what is a better pitch than a free road trip???????
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline lovejoy

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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.

I agree Circle is the best option. There withdrawal limits are $3000 weekly for bank accounts and they don't charge transaction fees, although an ACH fee is really only about $0.15.

Humor me here, what would a pitch to circle look like? What would be their incentive (in the grand scheme of things?)  I'm genuinely curious.

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Founded in 2013 by serial Internet entrepreneurs Jeremy Allaire and Sean Neville, Circle is backed by $76 million in venture capital investment from Goldman Sachs, IDG Capital Partners, Breyer Capital, Accel Partners, General Catalyst Partners, Oak Investment Partners, Fenway Summer, Digital Currency Group, and Pantera Capital.
« Last Edit: October 05, 2015, 02:56:41 am by bitscape »

Offline puppies

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Hey guys I want to go ahead and take the heat for this one, I personally asked stand to post in the forum to see if we could get anybody that has some additional connections I did not have, or additional ideas I could not come up with on how to solve this problem

Probably best to ask for yourself, but i have personally always liked the open conversation.  It gives us an idea of where we are that they are so open about it. 

And as for finding answers, it was worth it to check...you never know when an untapped resource may be found. :)

Ten years ago my long time girlfriend ran payroll at a temp agency.   They were a small family owned business, and they did payroll not only for themselves, but also for a lot of the small businesses in the area. 

Sadly you're ten years late.  We've lost touch, and she lives two states away.

I think posting asking for options was a great idea.  There is a chance that someone is in the situation I was in ten years ago.
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Offline fuzzy

Hey guys I want to go ahead and take the heat for this one, I personally asked stand to post in the forum to see if we could get anybody that has some additional connections I did not have, or additional ideas I could not come up with on how to solve this problem

Probably best to ask for yourself, but i have personally always liked the open conversation.  It gives us an idea of where we are that they are so open about it. 

And as for finding answers, it was worth it to check...you never know when an untapped resource may be found. :)
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Offline tonyk

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Hey guys I want to go ahead and take the heat for this one, I personally asked stand to post in the forum to see if we could get anybody that has some additional connections I did not have, or additional ideas I could not come up with on how to solve this problem

And more importantly did anyone came with something that can work?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

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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.

I agree Circle is the best option. There withdrawal limits are $3000 weekly for bank accounts and they don't charge transaction fees, although an ACH fee is really only about $0.15.

Offline Murderistic

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Hey guys I want to go ahead and take the heat for this one, I personally asked Stan to post in the forum to see if we could get anybody that has some additional connections I did not have, or additional ideas I could not come up with on how to solve this problem.

« Last Edit: October 05, 2015, 02:29:21 am by Murderistic »

Offline Ben Mason

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How about keep things quiet and not start more speculative bullshit. If it actually happens then talk.

OR this thread was designed to pump BTS

Working on developments and having an open discourse, despite the ill informed trolling and occasional attempts to manipulate the stupid, is one of this community's greatest strengths. Please try to join in constructively or just come back in 3-5 yrs once things are less interesting and more stable.

Offline Stan

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We have always used this forum as a resource for brainstorming solutions.

My previous post was packed full of raw ideas that I hope the folks here will chew on and embellish.

We have an unbelievable number of entrepreneurs in this community and several have already contacted me with ideas they are working on.   Clearly, the one who adds this particular capability to the BitShares Exchange Network stands to profit and benefit us all.

It's an entrepreneurial opportunity to start your own business.  We have shared it for all to consider.

Let the race to develop the best solution go on!
That's what this community does.  :)
« Last Edit: October 03, 2015, 11:27:41 pm 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.

Offline onceuponatime

How about keep things quiet and not start more speculative bullshit. If it actually happens then talk.

OR this thread was designed to pump BTS

Stan appears to be gathering ideas. Are you down on ideas?

Offline hamiltino

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How about keep things quiet and not start more speculative bullshit. If it actually happens then talk.

OR this thread was designed to pump BTS

Offline Stan

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couldn't this be done via privatized bitassets? they would create their own btiUSD
I was thinking the same, thier own usd pegged asset.

Fyi they deal in 60 countries and need to settle in more than one currency.

As for chicken and the egg, I didnt consider that problem, though my thought on it is they wouldnt need to immediately put 500 mil into bitusd, but would sort of put it in as they go every month. They would have as much exposure then, right?

You folks are much smarter than I am, thanks for your perspective.

And presumably much of the payment flow will come back out of the pipeline and into fiat every month, so this is mostly going to generate nice liquidity for bitAssets.  That means there probably only needs to be steady-state about $50M worth of bitUSD in the pipeline.  Acquiring a "mere" $1M worth of BTS while its cheap might be all it takes to prime this particular payment pipeline so that could translate into a cost of money in the neighborhood of $50K, easily recovered from the gains in value of the initial BTS purchase caused by the sustained demand it would contribute.

Not to mention that having their own asset with this much liquidity would make it the go-to currency for many others.  Suddenly they have a new revenue stream as a byproduct. There's also the referral fees from their huge number of new users who, having BitAssets in their paychecks will become good candidates using other services, like selling BitShares Bonds that earn more than any bank currently pays.  That could mean several more revenue streams.  This payment system could quickly pay for itself and even turn a profit - always a good business proposition.

Essentially, there is huge energy in the flow of this much money that can be harnessed to make all kinds of other revenue generation models viable.

I haven't spent any time on refining these numbers, but I'm sure someone will.  :)



« Last Edit: October 03, 2015, 04:45:19 pm 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.

Offline Murderistic

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couldn't this be done via privatized bitassets? they would create their own btiUSD
I was thinking the same, their own usd pegged asset.

Fyi they deal in 60 countries and need to settle in more than one currency.

As for chicken and the egg, I didn't consider that problem, though my thought on it is they wouldn't need to immediately put 500 mil into bitusd, but would sort of put it in as they go every month. They would have as much exposure then, right?

You folks are much smarter than I am, thanks for your perspective.
« Last Edit: October 04, 2015, 03:23:11 am by Murderistic »

Offline Akado

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couldn't this be done via privatized bitassets? they would create their own btiUSD
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Offline jsidhu

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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.
So they would be a bts holder even if thats not their core business? Doesnt make business sense unless they are a startup looking for bleeding edge risk and tech to integrate. I dont think that is the case.

I wonder if this is a partner looking to invest in bts in that case or if its a standalone company with its own core business intact and profitable.

Even if it's not their core business, but they have an understanding of the space, I think the high probability that BTS gains 2000%+ would make the opportunity lucrative.

The referral programme could also come into play? It could offset payroll costs and even make it profitable while still being better & cheaper for employees than their current system.
No sane business of decent size would do that

Actually it seems quite common. While they say it was not their intention to convert their investors to clients, it looks like some of the investors in new payroll startup,  ZenPayroll, switched the payroll of their companies over...

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"Right now we have a very strong focus on small businesses, and sub-100 person companies," Reeves says. "We did not take these investors to convert them to clients, it's about getting a chance to talk to these people who have been in our shoes."


http://uk.businessinsider.com/practically-every-notable-founder-in-silicon-valley-just-invested-in-this-startup-2014-11?r=US&IR=T
Interesting...
what are the risks and rewards of having those investors become clients?
« Last Edit: October 03, 2015, 02:52:12 pm by jsidhu »
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