Author Topic: BitUSD on OpenBazaar would show the VALUE of a non-volatile crypto.  (Read 13353 times)

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Offline Gentso1

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if we are serious about this I think the first step is creating a fund and then hiring a developer to integrate it. I would not worry about Reddit it doesn't really matter. Put the code in place and merchants will choose the option that puts the most cash in their pocket all on their own.

Big question who will hold the funds to pay a developer? 

I would suggest we do not pitty patty to long as other coins have a head start all ready but this isn't anything money can't fix :D

Offline oldman

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TITAN would be fantastic for something like OB if well implemented.

A BTSX account could be created at the same time at the OB account.

User/merchant name = bitUSD send/receive address.

My limited experience in getting people use Bitcoin has shown the public address system to be a bit of a stumbling block.

Folks that use fiat banking (ie. big OB demographic) are accustomed to sending money by name, such as when a cheque/bank draft etc. is created.

TITAN gives crypto the ability to provide a familiar user experience.

All that said, eventually we need a browser wallet where  buyers can just agree to pay right on the merchant's order page. Back end no one will care about.

Offline gamey

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Maybe a dev could comment on whether or not TITAN will prohibit BitUSD integration?

I haven't worked with wallets enough, but it is clearly the case.  The whole account creation system/wallet is different.  This is why Cryptsy hasn't set it up.   It took them forever to get NXT.  You can buy a lot of site scripts but none will work with BTSX. :(

If OpenBazaar is indeed currency neutral and will support multiple currencies then we definitely need to see it done sooner than later.

TITAN/wallet system wouldn't prohibit the integration, but it would be prohibitive.   Hard to know how much unless you are a wallet expert between the 2 + know a bit about openbazaar.
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Offline Method-X

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I could not agree more.  This really is a perfect union.  We solve some of their major problems and they solve ours.

I would be open to diluting our shares so OB can give away bitUSD in a promotion.  "Fund an OB account with bit$100 and we will give you bit$5 bonus." 

OB is an excellent brand for us to attach our selves to. They are universally loved by the crypto world and seen as righteous. 

Either way it is an excellent use of Btsx devs time to do the integration.   With the easy fiat>bitUSD on ramp we are building this will be a killer combination.

+5% I cannot think of a better strategic partnership. Synergy at its best.

Pros
  • Piggyback on OpenBazaar publicity.
  • Creates real demand for BitUSD.
  • Demonstrates the necessity of a non-volatile crypto to merchants.
  • OpenBazaar needs a stable crypto to attract non-drug users.
  • If successful on OpenBazaar, BitUSD will rapidly spread to other markets.
  • Increased volume means a stronger PEG.
Cons
  • TITAN?
Maybe a dev could comment on whether or not TITAN will prohibit BitUSD integration?
« Last Edit: October 04, 2014, 06:11:30 pm by MeTHoDx »

Offline gamey

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The thread was downvoted because /r/OpenBazaar redditors are mostly /r/Bitcoin delusionals. The developers themselves are open to altcoin integration and already have other coins actively working on integration i.e. Darkcoin. Secondly, it seems from the posts I've read that it's up to the merchants to accept any coin they want, so long as theres code for it. I think a merchant is a node and the nodes decide what coins they want to accept / the code for a node is their choice. The glass is half full gamey. :)

+5%  Good info.

A glass half full?  How can that be ?  Everyone knows that a glass half full is actually half empty !

Unfortunately because of TITAN (?) one problem we'll face is integration.  Most bitcoin forks are very similar if not identical on the wallet API. 
« Last Edit: October 04, 2014, 05:27:31 pm by gamey »
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Offline Mysto

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Great idea, I would definitely contribute to this.

Offline oco101

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Offline matt608

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 I propose that a well know member a community should create a BtishareX account and we all can send bitUSD to this account, when we have enough founds are in there we hire a developer.

I'd chuck in $100.

Offline oco101

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OB is open-source - we should ask I3 to task some dev time to integrating bitUSD.

As a substantial AGS investor I would support the use of AGS funds for OB/bitUSD integration.

The ROI could be enormous and there is really no better way to jump-start bitUSD adoption.

Up until now did not see any founding from  AGS to project not coming from I3 themselves. If they wanna support the'll do it but I suggest not to  wait on them for that. I propose that a well know member a community should create a BtishareX account and we all can send bitUSD to this account, when we have enough founds in there we hire a developer. I3 could of course donate  and maybe we could use  some money from the community  found as well if they see fit.



« Last Edit: October 04, 2014, 04:59:31 pm by oco101 »

Offline hpenvy

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OB is open-source - we should ask I3 to task some dev time to integrating bitUSD.

Make it easy for the OB devs; I3 has one of the best crypto teams in the business.

As an AGS investor I would support the use of AGS funds for OB/bitUSD integration.

The ROI could be enormous and there is really no better way to jump-start bitUSD adoption.

This makes a lot of sense.
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Offline matt608

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It would be ideal if bitUSD could be implemented as a default option for merchants rather than just an option they can select.  Items presumably need to be priced in a stable currency, so it makes sense for the default pricing to be in bitUSD.

If that could be done then some referral program for spending bitUSD on open bazaar could become a possibility...

Offline oldman

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OB is open-source - we should ask I3 to task some dev time to integrating bitUSD.

Make it easy for the OB devs; I3 has one of the best crypto teams in the business.

As an AGS investor I would support the use of AGS funds for OB/bitUSD integration.

The ROI could be enormous and there is really no better way to jump-start bitUSD adoption.
« Last Edit: October 04, 2014, 04:08:06 pm by OldMan »

Offline hpenvy

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Well let's crowd found this and make a bounty . I have no idea how much will be need it for development though.

I'd be willing to put $200 out of pocket to contribute to this initiative to get it rolling.
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Offline oco101

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Well let's crowd found this and make a bounty . I have no idea how much will be need it for development though.

Offline Gentso1

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I love the idea of open bazaar but and I am curious about the multi-sig transaction myself as it truly represents a trust-less system.

I quickly looked at their forums to see how white to grey to black their markets intend to go but I could not find a answer.

I've been following OB since its inception and the devs have stated many times they want to attract non-drug activity. That's why I'm suggesting we get behind this. BitUSD will allow for legitimate products and services on OB.
In that case I am 100% in agreement with you This would be a perfect real world use of a currency that they will want, bitUSD.  . If a fund was created for the sole purpose of a a airdrop/getting them on board I would contribute to it also. 
« Last Edit: October 04, 2014, 01:16:45 pm by Gentso1 »