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Proposal

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Proposal

This topic contains 5 replies, has 2 voices, and was last updated by  alexg 3 months, 1 week ago.

Viewing 6 posts - 1 through 6 (of 6 total)
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  • #4516

    bigblue
    Participant

    Alex,

    After using the extension I have a suggestion involving Cash opertions linked to the exchng. I want to give usrs a second operation option if they want physical cash.

    [Lets think about BTC/UUSD to the operation, and both users are present in a certain place face to face or they will meet at a certain moment]

    – User A wants cash, in this case USD. Sells BTC placing an order with a price (or many orders if they did not have fixed a price face to face) assigned to the user B (only executable by user B, and eventuelly as configuration option only visible to him in the order book). This kind of orders must be locked to user B because its linked to csh operation in order to get finally the physical.

    – User B accepts to buy at the price (or selecting a price in case of many placed prices). BTC (in this case are processed through the exchng to make a temporary deposit to an admin or escow adress. The operation is on hold and waiting for user A cash reception confirmation.

    – User A confirms clicking on the operation to match and eventually (if setted by admin double check) with second email url link confirmation. In his fiat account there is 2 operations: one is the deposit and the second is the withdrawal.

    Linking this knd operation to the echng could fullfill the exchng with liquidity and added price adjustment.

    The set of fees should be configured by admin separately for this kind of operation, with extra configuration option fields like:
    – Country block for this kind of trade.
    – Selection betwn only the local fiat currency (country) and different fiat currncies (from legal perspective is important).
    – Setting the fiat maximum and minimum amount.

    I think it would be a great thing, and not necesarely involving bnkng info…
    This should be third kind of operation, separate from those already implemented.

    #4542

    alexg
    Keymaster

    Hello,

    What you are proposing is a kind of escrow service. Please see my comment here about this.

    Could you please describe a use case? Why would this be better than an exchange?

    The other kinds of blocking that you propose (country blocking, filtering of currencies, etc) can be implemented easily with the current Exchange. Please see this gist for an example. You can use this type of hook to implement any type of logic you like, to disallow a trade based on arbitrary conditions.

    Thank you

    #4574

    bigblue
    Participant

    Yes Alex, I already read the escrow threat you mention. My request is similar but without not necessarly bypassing the exchnge.

    In other words, I want to add another level (option) to trades in order to allow cash operations (avoiding admin bnk transfers). This orders must go through the exchnge in order to add volume, adjust the pricing… like any other operation, with the exception this new operation is filled and confirmed with cash reception.

    The set of setting for this operations shoud be added to fiat withdrwals admin panel, and a supplementary UI for the front end.

    I’m goin to prepare a use case.

    Thank you Alex

    #4593

    alexg
    Keymaster

    Thank you bigblue for sharing your thoughts.

    Unfortunately I am not able to implement such a plugin at this time.

    It would be too far a departure from the current components I am working on and I do not have the time to work on this.

    kind regards

    #4801

    bigblue
    Participant

    I understand Alex you are busy of course.

    But dont you think in some simplification? Not necesarly a new extension, but just adding some functions in order to give the users p2p csh operation possiblities with the exchnge.

    I think it is important to many users, because for example many of them does not handle bank accounts. As for now it is restricted and limmited by the obligation of having a bank account.

    If a part, some role permission setting is added, it could be a great and interesting thing to use. For example, an admin could authorize a specific role to give csh in exchnge of his crypto… the possibilities are just great.

    Thank you Alex

    #4806

    alexg
    Keymaster

    Hello,

    Thank you. I understand your argument that this would be useful to people.

    However, you seem to think that this is a simple feature that could be easily added to the exchange. Actually it would have to be a new extension with its own UI, API, etc. There is nothing in the current Exchange extension that would allow this particular functionality. This is why it is impossible for me to provide such an extension at this time.

    with regards

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