Thanks for the suggestion. I have taken a more focused approach and will post a draft motion specifically for the “5-steps” maybe today.
Motion posted. Please comment and make suggestions.
I have finally got some time to read and enter in this discussion, will try to make significant comments only otherwise I risk opening up too many discussions
I’d add Neteller, they recently started taking money in via BTC and it is definitely a top tier player.
I want to also notify a slightly different category that allow users to convert cryptocurrencies in physical cash (and vice-versa) by using existing networks of ATMs and BTMs and partnerships with banks. Pioneers in this category are https://btcpoint.com/en/ and https://chip-chap.com/en using the HalCash network, with more players emerging. Still small market (Spain and Poland) , but worth analysing maybe.
I have added http://www.neteller.com
ATMs and BTMs are a very promising direction. Also kiosks such as Qiwi. They deserve their own thread.
Regarding this our friends from @bitcoincoid made some great news today: http://digitalmoneytimes.com/crypto-news/lamassu-dominates-the-indonesian-bitcoin-atm-market
The fees charged by btc-e for deposite USD using e-currency (PM-USD etc) is about 1% - 2% probably depending on liquidity. CCEDK doesn’t allow it any more (allowed Payeer at 3% before). All allow wire transfer but the hassle and fee will be equivalent 1-2% for average users.
So I expect PEGs can set 1-3% spread on selling/buying NBT and expect to profit. Because of low friction of NBT transfer, increase of NBT adoption will lower handling fee of PEGs across the internet. But there is a limit of this lowering effect, because the fee includes the cost of setting up and operate PEG business, which won’t become 0 with the presence of Nubits.
I invoke thread necromancy…but the reality is this has been mentioned a couple times already because of BTCs volatility recently.
If NBT mass adoption is a key than easy and quick exchange between NBT/USD(fiat) must be a priority.
Has anyone in the community been thinking about this or working on it? There needs to be a gateway as easy as coinbase where users can simply put hard currency in from their bank accounts and get out NBT. And vice versa it needs to allow users to accept NBT and then deposit it to their account.
All this wire transfer business is black magic to the majority of the population. Also the fees are VERY steep except for large transactions. For example right now coinbase charges a 1% exchange fee. One click and done.
Things need to be simple like coinbase/paypal for mass adoption. Just some thoughts to perhaps get a ball re-rolling.
The strategy was to 1) convince payment processors, money exchanges, and e-currency gateawsys (PEGs) to offer NBT, then 2) buy their code (or have it written) that makes simple web page that converts between e-USD and NBT (“Method 3”)
I am thinking if we should start to work on “Method 3” by passing a custodian vote and pay someone to write a conversion page for Nu.
I’d vote. But we’d need someone to step up to do it.
It is a little more through…because while it is good for it to be light and anyone could do it.
There should be a central server that has trust that we can point people to.
Phrase the motion as: the Nu Team will be awarded 200,000 nsr for successful implementation of method 3.
Do we need a motion to specify the Nu Team as a group of pseudonyms, or is that taken for granted?
Centralized solution is problematic in the long run. My idea is to let Nu demonstrate the technical solution, and let many competing sites offer the actual service for their own profit.
Then we can point people to them in the Nu Excanges page
If that is a bounty, anyone should be allowed to take it. I thought someone already running his own BTC-USD exchange could do it over the weekend.
If we want a bounty, sure. If we want the NuTeam to do it, we’ll have to reserve the funds for them.
Having the NuTeam to do it would have better assurance of quality.
Just heard of https://prypto.com, they offer scratch cards so implementation would be easy.
I take a quick look at and it seems legit and well presented. Scratch card is a tractive to people not familiar cryptos. I suggest @tomjoad write them on supporting Nubits.
I’ve sent an email to their business development team, and will update here if I hear back. I would also encourage others to write to them as well. The more people a company hears from, the more they will listen.
Paxful, They are a P2P escrow service for BTC. Maybe they could be persuaded to adopt NBT.
And there is the Papal Virwox method: you buy a virtual website token that can be exchanged for your actual BTC.