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RE: A Declaration of Principles
Getting fiat into crypto in general is still way too difficult. Getting fiat into STEEM is about 3x harder due to the additional steps.
The few easy options have ridiculous costs.
So just spitballing here, we need a Steem-denominated non-cryptocurrency asset that we can sell through Paypal or ACH or whatever without incurring regulatory issues, and then users could sell them for Steem. Essentially the equivalent of pachinko prizes, where you're just winning the prizes, you're not actually gambling! Until you take them next door to a completely independent establishment where you can trade them for cash.
Hmm... I like it
#monsterbanking comes to mind with a couple tweaks.
The main problem with using Steem Monsters is that as far as I know there's no trustless method for sending packs to other people. I could set up a middleman next week to sell packs for USD but what stops me from snooping the packs before I send them and keeping the good ones?
@yabapmatt, am I wrong about this? I might actually be interested in doing it if that hurdle could be cleared. I have an S-Corp and $10k or so, it's essentially trivial.
I don't think you'd need a pure trustless system. Just a standard 3rd party market maker.