7 BTC bounty: Develop website for direct fiat-\>FTC
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[quote name=“wesphily” post=“13801” timestamp=“1371067176”]
Galexis3,I will get you the help you need. Give me a couple of hours to rally up the troops.
[/quote]Count me in.
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Thank you very much everyone,
I will contact my colleagues and start discussing how we can do this most effectively. So soon Europeans can have a reputable, easy and furiously fast access to Feathercoins. -
Actually can’t wait. Will you be accepting gbp?
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[quote name=“Markus1337” post=“13845” timestamp=“1371072932”]
Actually can’t wait. Will you be accepting gbp?
[/quote]Of course, with the system we can easily convert between any currency. With the push messages from the bank confirming coverage for the order we should be able to transfer coins in less than a minute after order completion.
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So the currency exchange between fiat is done through the banks?
Dont they charge ridiculous fees?
I like the idea. Curious to see how it unfolds. =)
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Hello, 7BTC is not enough to get a website like this built. I am sorry to say but any business that transacts between dollars and coins has to be a money transmitter. Look here:
http://licenseinfo.oregon.gov/index.cfm?fuseaction=license_seng&link_item_id=1731The start up fees alone just to get the right certifications are quite high.
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[quote name=“Vidicus” post=“13938” timestamp=“1371089712”]
Hello, 7BTC is not enough to get a website like this built. I am sorry to say but any business that transacts between dollars and coins has to be a money transmitter. Look here:
http://licenseinfo.oregon.gov/index.cfm?fuseaction=license_seng&link_item_id=1731The start up fees alone just to get the right certifications are quite high.
[/quote]Not necessarily. Look at https://www.bitcoin.de/en. They are very popular in Germany / Europe.
It’s more like an escrow service - so they don’t need a bank license.
Maybe we could do something like this for a start?
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I’m guessing it’s easier and cheaper in Europe?
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[quote name=“Smoothie” post=“13932” timestamp=“1371088340”]
So the currency exchange between fiat is done through the banks?Dont they charge ridiculous fees?
I like the idea. Curious to see how it unfolds. =)
[/quote]
It’s true that most of us experience ridiculous fees when we are exchanging through a bank as private costumers. The fees that Sofort AG bank are writing however are reasonable. They have divisions in more than 8 European countries which hopefully will make exchanging between currencies easier. However there are still details about their API and fee structure which is currently unclear as we have not chartered the company yet, and they are not talking to privates without a registration number. Hopefully we will have that fixed in 2 weeks.
[quote author=Vidicus link=topic=1736.msg13938#msg13938 date=1371089712]
Hello, 7BTC is not enough to get a website like this built. I am sorry to say but any business that transacts between dollars and coins has to be a money transmitter. Look here:
http://licenseinfo.oregon.gov/index.cfm?fuseaction=license_seng&link_item_id=1731The start up fees alone just to get the right certifications are quite high.
[/quote]You are absolutely right that a 7 BTC bounty wouldn’t pay for the legal paperwork. That is something we are paying from our fiat bank account right now. The 7 BTC bounty is intended for those who develop the website.
Going “legal” is expensive and limits what services we can bring people, but we want to avoid anything like bitcoin24 happening to Feathercoin. Having a company shut down due to lack of paperwork and peoples fund frozen creates a lot of mistrust, so we are choosing to spend a large part of the budget on legal paperwork before we even consider chartering the company.
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I applaud what you are doing and I think it will really help Feathercoin adoption.
Let me know if I can help, I’m not a developer but an experienced sys-admin with access to VPS resources for hosting of ancillaries or test sites. I’d also be happy to provide any other tech support I can.
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Definitely, it’s great to see people coming in offering to expand Feathercoin to the ends we’d like to see them at.
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I’d love to help on this, I just wish that I had more time available to me. I just had my 3rd kid, moved to a new house, and started a new position at work. I’d be happy to provide UI consultation. I’m a web developer with a good understanding of UI design and usability.
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[quote name=“Galexis3” post=“14022” timestamp=“1371108868”]
[quote author=Smoothie link=topic=1736.msg13932#msg13932 date=1371088340]
So the currency exchange between fiat is done through the banks?Dont they charge ridiculous fees?
I like the idea. Curious to see how it unfolds. =)
[/quote]
It’s true that most of us experience ridiculous fees when we are exchanging through a bank as private costumers. The fees that Sofort AG bank are writing however are reasonable. They have divisions in more than 8 European countries which hopefully will make exchanging between currencies easier. However there are still details about their API and fee structure which is currently unclear as we have not chartered the company yet, and they are not talking to privates without a registration number. Hopefully we will have that fixed in 2 weeks.
[quote author=Vidicus link=topic=1736.msg13938#msg13938 date=1371089712]
Hello, 7BTC is not enough to get a website like this built. I am sorry to say but any business that transacts between dollars and coins has to be a money transmitter. Look here:
http://licenseinfo.oregon.gov/index.cfm?fuseaction=license_seng&link_item_id=1731The start up fees alone just to get the right certifications are quite high.
[/quote]You are absolutely right that a 7 BTC bounty wouldn’t pay for the legal paperwork. That is something we are paying from our fiat bank account right now. The 7 BTC bounty is intended for those who develop the website.
Going “legal” is expensive and limits what services we can bring people, but we want to avoid anything like bitcoin24 happening to Feathercoin. Having a company shut down due to lack of paperwork and peoples fund frozen creates a lot of mistrust, so we are choosing to spend a large part of the budget on legal paperwork before we even consider chartering the company.
[/quote]So you want someone to build you, essentially, an online bank, for 700 USD?
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[quote name=“wesphily” post=“14243” timestamp=“1371145150”]
Guys,I have been exchange messages with the OP. They understand that 7btc will not suffice for a website built from scratch. Right now we are looking at locating a reputable business that can build this website for them. If you have any good suggestions then please post them here.
Keep in mind that the company we propose will need experience with security in reference to money exchange.
[/quote]I do.
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Everything hair tip to toenail of an online project, and I have a track record to prove it. For over 10 years.
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[quote name=“wesphily” post=“14243” timestamp=“1371145150”]
Guys,I have been exchange messages with the OP. They understand that 7btc will not suffice for a website built from scratch. Right now we are looking at locating a reputable business that can build this website for them. If you have any good suggestions then please post them here.
Keep in mind that the company we propose will need experience with security in reference to money exchange.
[/quote]Good, that saves me from pointing that out. If the bounty was more like 200BTC, this would be right up my alley, and I have the CV to prove it.
I’ll go back to making money on the arbitrage of the existing exchanges now, thanks. :)
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[quote name=“Galexis3” post=“14022” timestamp=“1371108868”]
Going “legal” is expensive and limits what services we can bring people, but we want to avoid anything like bitcoin24 happening to Feathercoin. Having a company shut down due to lack of paperwork and peoples fund frozen creates a lot of mistrust, so we are choosing to spend a large part of the budget on legal paperwork before we even consider chartering the company.
[/quote]Good. Please be careful. Do not repeat the mistakes of many bitcoin businesses in the past.
