People keep talking about the “killer” app for Bitcoin being developed by teams with millions of dollars in backing, yet we fail to find the one solution that strikes it right with the retail markets. Talk about alt currencies with your average internet consumer and there is no way in hell you would possibly have him acquire a coin, without having to go through the nuances of transferring currency to the bank, acquiring bitcoin, then sending it to an alt-coin exchange, then paying for the currency itself. Throughout this process, there’s the painful aspect of fluctuating prices which would further lead to disappointments in the end consumer’s mind. In addition, for the “price” conscious consumer, this is an added paingpoint as he’ll have to usually set up accounts in multiple exchanges to garner the best rates while battling it out against a barrage of bots set up by individuals with years of experience in these scary markets. In such a scenario, creating something that is easy and intuitive enough for your grandma to use, yet complicated enough to battle it out with the smartest bots in the industry becomes a challenge. Yet , this is a challenge we rise up to every single day in the multitudes of businesses we’ve engaged in. Today, we are glad to formally announce yet another product into the ecosystem, built with the intent of providing a no-nonsense exchange without unwanted fee involvements.
Being individuals that routinely accept payments in alt’s we’ve had to spend hours just ensuring we get the best rates on our coins while ensuring the markets don’t crash due to any swift movements. In addition, maintaining accounts at multiple exchanges adds to the pain points. In order to tackle this, we created an API that converses with multiple exchanges in real time, places optimal buy and sell orders and reverts in a matter of minutes. We then interlinked user provided payout addresses to ensure users can garner the service without having to repeatedly copy paste their wallet id’s. What would this mean for the average user ?
We just created a system that does exchanges for you, without you ever having to visit the exchange or the gate way. Send money to a wallet id, and the system exchanges and sends BTC to you right away.
So what would this truly mean for the end user?
It means we’ve made acquiring alt’s at the fastest rate possible, as easy as checking out from Amazon. Just a matter of copying the wallet id, sending in the bitcoin and well, you’re pretty much done. Since the system reserves your wallet id for future transactions, you will not need to repeatedly copy paste transactions like you’d do at Shapeshi(f)t. In addition, if you are a freelancer looking to take payments either in Bitcoin or Bitshares, you can simply send either of your wallet id’s and the system automatically sends you the other currency without you ever having to either reveal your holding currency nor having to spend time exchanging it, ever.
Take that for mass consumption!
FAQ’s
1. Is this decentralized ?
No, this is not decentralized in the true sense of the word. Users are still to send funds to our system, which is then dispersed across exchanges. What this does mean though, is that our system cannot be taken down, by solely taking down electrons.io. Since funds are sent to exchanges in real time, we don’t hold anyone’s funds for too long and the question of a potential loss during a hack is non existent. Similarly, users will be able to directly send cash to a bts wallet id (currently electron-io) and receive bitcoin without viisiting the site at all.
2. How does a user experience his coin ?
In order to exchange your currency, you are not required to visit the site at all. Simply send the BTS to electron-io with your bitcoin wallet id as a memo
3. What kind of volumes can this exchange?
Since this is purely experimental and the amount of market support for Bitshares is low, we recommend you to experiment with small batches. While we are able to track large payments, we are not able to gaurantee market support. Exchanges over 100,000 can have substantial impact on the prices and due to the same you are expected to exchange in batches
Note : No fancy fundraisers, no share-drops, no equity splits. This is a product released by Freebie LLC in the best interests of the community. We take no fee (for now). For corporate enquiries e-mail xypher@mail.com
Topic: [Ann] Electrons.io Open Beta Testing [Ann] (Read 12547 times)
