Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
I guess here's my disconnect. I can buy BTC with USD at coinbase. I have a verified checking account that I move USD into when I need BTC. I go to coinbase and press a couple of buttons and I can ask for $38 worth of BTC and mash the button and it says OK. [ Insert 30-60 minute wait for confirmations ]You now have $38 worth of BTC. That's it. When you tell me I can exchange USD for BAY, I expect to be hooked up with a buy/sell button to exchange $38 for BAY. Press the button, it says OK and the BAY are in my wallet. If the exchange of $$ > BAY is more difficult than $$ > BTC, then what am I gaining by using BAY? I'll stick with BTC because it's easier.
I think of it like this. I can teach my 10 year grandkid to buy BTC in my coinbase account in less than an hour. You have said that I will be able to exchange USD for BAY in the client. When will there be a secure, reliable exchange mechanism I can teach to my grandkid in under an hour? Otherwise, what's the point here?
I think of it like this. I can teach my 10 year grandkid to buy BTC in my coinbase account in less than an hour. You have said that I will be able to exchange USD for BAY in the client. When will there be a secure, reliable exchange mechanism I can teach to my grandkid in under an hour? Otherwise, what's the point here?
I think that u are talking about 2 different things here. Coinbase is a dedicated web for to sell and buy BTC but what u get with Bitbay is a complete and decentralize marketplace... u can not automatize that... and it will be not so easy to learn for ur grandkid
pd: sorry for my english
Yes you can automate a lot of it. For example, you can run an automation script to wire money from certain banks by logging in online the same way a webserver does it, you can automate payments via western union with someone who has an online account. I think in theory there is nothing you can do with a website that you cant do p2p.
For now the only part that will be manual is actually sending the wire or sending the cash. The rest (forms, funding details, exchange rate) will be automated right out the gate.