Main > Stakeholder Proposals
[Worker] Integration of BTS with Wirex
Ammar Yousef (ioBanker):
--- Quote from: Customminer on August 25, 2019, 12:52:34 am ---
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This worker is good only if wirex are willing to create a "BitAssets" stablecoin alternative to how much account holder is handling at their end, this will let Wirex users to exchange between BTS and Wirex "BitAssets" stablecoin and withdraw "BitAssets" by cards at any time.
This has to be discussed with Wirex, and the integration for this from their side is not complex.
OTHERWISE IT WILL BE JUST ANOTHER LEGACY COIN FASHION LISTING AT CEX
--- End quote ---
Meanwhile major amount of BTS are dumped as bounty to get bitCNY listed on CEX? Getting BTS integrated will provide EMEA debit card access which massively simplifies using Bitshares for everyday finances IRL. What you propose is out of scope.
--- Quote from: ioBanker on August 24, 2019, 02:28:56 am ---
--- Quote from: xeroc on August 22, 2019, 02:26:01 pm ---
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This has to be discussed with Wirex, and the integration for this from their side is not complex.
--- End quote ---
You may have missed that the real thing here is the legal paper work for being compliant with credit card networks!
It surely not about the technicalities of integrating bitshares.
Also, if you can convince their lawyers that bitAssets are not securities, then that can be done right afterwards.
--- End quote ---
Before trying to convince their lawyers; we have to design the bitAssets to not get classified as a security.
I suggest to have discussions about the current design and mechanism of profits of the bitAssets then to study how can bitAssets pass the howey test initially before starting promoting bitAssets in a common enterprise that facilitates cards transactions.
--- End quote ---
Why? The worker proposal states that BTS will be integrated primarily, not the bitassets - thus your concerns are out of scope.
--- End quote ---
I know this is a helpful card feature for users who wants to cash out BTS without the need to exchange it with anther coin then to cash withdraw it with any of many cards providers but priority wise for the network, I see paying $375,500 is too much at this stage for listing BTS at card issuer because the return wouldn't cover that amount in my opinion as we need to focus more on having business use cases that would utilize BTS itself.
R:
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This worker is good only if wirex are willing to create a "BitAssets" stablecoin alternative to how much account holder is handling at their end, this will let Wirex users to exchange between BTS and Wirex "BitAssets" stablecoin and withdraw "BitAssets" by cards at any time.
This has to be discussed with Wirex, and the integration for this from their side is not complex.
OTHERWISE IT WILL BE JUST ANOTHER LEGACY COIN FASHION LISTING AT CEX
--- End quote ---
Meanwhile major amount of BTS are dumped as bounty to get bitCNY listed on CEX? Getting BTS integrated will provide EMEA debit card access which massively simplifies using Bitshares for everyday finances IRL. What you propose is out of scope.
--- Quote from: ioBanker on August 24, 2019, 02:28:56 am ---
--- Quote from: xeroc on August 22, 2019, 02:26:01 pm ---
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This has to be discussed with Wirex, and the integration for this from their side is not complex.
--- End quote ---
You may have missed that the real thing here is the legal paper work for being compliant with credit card networks!
It surely not about the technicalities of integrating bitshares.
Also, if you can convince their lawyers that bitAssets are not securities, then that can be done right afterwards.
--- End quote ---
Before trying to convince their lawyers; we have to design the bitAssets to not get classified as a security.
I suggest to have discussions about the current design and mechanism of profits of the bitAssets then to study how can bitAssets pass the howey test initially before starting promoting bitAssets in a common enterprise that facilitates cards transactions.
--- End quote ---
Why? The worker proposal states that BTS will be integrated primarily, not the bitassets - thus your concerns are out of scope.
Ammar Yousef (ioBanker):
--- Quote from: xeroc on August 22, 2019, 02:26:01 pm ---
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This has to be discussed with Wirex, and the integration for this from their side is not complex.
--- End quote ---
You may have missed that the real thing here is the legal paper work for being compliant with credit card networks!
It surely not about the technicalities of integrating bitshares.
Also, if you can convince their lawyers that bitAssets are not securities, then that can be done right afterwards.
--- End quote ---
Before trying to convince their lawyers; we have to design the bitAssets to not get classified as a security.
I suggest to have discussions about the current design and mechanism of profits of the bitAssets then to study how can bitAssets pass the howey test initially before starting promoting bitAssets in a common enterprise that facilitates cards transactions.
xeroc:
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This has to be discussed with Wirex, and the integration for this from their side is not complex.
--- End quote ---
You may have missed that the real thing here is the legal paper work for being compliant with credit card networks!
It surely not about the technicalities of integrating bitshares.
Also, if you can convince their lawyers that bitAssets are not securities, then that can be done right afterwards.
Digital Lucifer:
--- Quote from: ioBanker on August 20, 2019, 09:34:24 pm ---This worker is good only if wirex are willing to create a "BitAssets" stablecoin alternative to how much account holder is handling at their end, this will let Wirex users to exchange between BTS and Wirex "BitAssets" stablecoin and withdraw "BitAssets" by cards at any time.
This has to be discussed with Wirex, and the integration for this from their side is not complex.
OTHERWISE IT WILL BE JUST ANOTHER LEGACY COIN FASHION LISTING AT CEX
--- End quote ---
Not really and believe they will have their own fiat pegged currencies. As user of Revolut on behalf of Institute, i do appreciate having crypto on card. Having BTS would enable me that through them pay whatever i want around without need to do trading to cex and cashout to local account/atm/debit card.
So, of all the workers we have Wirex is one of the rare ones that actually strikes that "mass-adoption" in some real sense.
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