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Balanced should host a panel/event on cryptocurrencies #80
Description
Balanced has been receiving some interest lately to discuss supporting cryptocurrencies like Dogecoin and Bitcoin more seriously. I propose we host an event to discuss the topic. This issue is to discuss logistics and planning.
EDIT: To be clear, this is more of a general cryptocurrency event than some sort of 'plan how @balanced can implement cryptocurrencies' event.
Activity
steveklabnik commentedon Jan 31, 2014
It was @jessicard's fault for the original idea:
steveklabnik commentedon Jan 31, 2014
To be clear, this is more of a general cryptocurrency event than some sort of 'plan how @balanced can implement cryptocurrencies' event.
jkwade commentedon Jan 31, 2014
haha @jessicardI like how incredulous you were when @steveklabnik said "sure"
jkwade commentedon Jan 31, 2014
Potential panelists:
Potential moderators:
jkwade commentedon Jan 31, 2014
@steveklabnik yeah, good clarification
themorgantown commentedon Jan 31, 2014
Some things I'm particularly interested in, and might be interesting for small business / entrepreneurs looking at Bitcoin:
jkwade commentedon Jan 31, 2014
@themorgantown good stuff. I'm also interested in the joining of a reversible payment system like ACH with non-reversible payment systems like Ripple IOUs and [bit, doge, lite, mars]coins.
jkwade commentedon Jan 31, 2014
@themorgantown as for 3. profit: how much of a fee will merchants and buyers tolerate from a cryptocurrency processor/gateway?
rand commentedon Jan 31, 2014
I'd be interested in this. If there's anything I can do to help, let me know.
steveklabnik commentedon Jan 31, 2014
From Twitter: https://twitter.com/wolffhechel/status/429053833973493760
jkwade commentedon Jan 31, 2014
Looks like @ripple is also planning an event similar to this in Feb for Developer week. Should we join?
themorgantown commentedon Jan 31, 2014
@jkwade The first mover advantage that Bitpay / Coinbase have is that they have developed relationships with Banks & regulators, and established advanced algorithms for detecting Bitcoin <--> ACH fraud. Their algorithms inform them what their fee should be.
Merchants & Buyers have (unfortunately) come to expect a 0% fee at least in the US, at least at low volumes. What is sad, is that anyone not doing huge volumes will suffer unless they charge close to 3%.
It would be a good topic of discussion. If pigs fly and regulations lift a bit, we may see prepaid cards fill the role of ACH (such as https://www.7-eleven.com/financial/prepaid-center/) but the fees on those cards can sometimes be onerous. I'm kinda joking, but I think one way to keep fees low is to use an irreversible system/card to fund (and be paid in) an irreversible Ripple/BTC account. But this can't really happen at this time. Anyway, there's a lot to talk about.
patcon commentedon Feb 7, 2014
Nice! Interested in traveling down if the timing is right. Might be interesting to have Cryptsy, as they have perspective as a yet-unregulated all-cryptocurrency exchange, which has an API that can be used to transfer between altcoins