Announcing STEEM for Cash Exchange Service! I can offer to buy your steem for a small fee similar to a bitcoin ATM! No more BTC as a middleman!
I am only missing one thing from my plan to offer low STEEM for Cash exchange rates to my local area and anyone else who doesnt mind trusting me from afar...I simply need the ability to sell bitcoins for Cash at spot or at a cheap rate close to 2percent or below ....So if you want to buy some bitcoins at spot price, it will help my project to offer this service, and any profit i potentially make off small fees to excange the steem for cash (or vica versa) I will save towards the purchasing of a generalbytes ATm which can be equipped with altcoin support, which it comes with, an STEEM can be added!
Untill I have the $3000 to make my steem (and altcoin)ATM dream come true, I realized I can still offer local san diego, ca residents the chance to sell their steem directly for cash to me in person (at lestats hillcrest coffee shop 24 hrs and has a bitcoin ATM!)
I have discussed this plan in this post https://steemit.com/money/@ackza/th-steem-for-cash-local-matchup-list-my-idea-for-steem-and-sbd-atms-to-allow-cashing-oout-of-steem-or-sbd-for-5-fee-but-you-get
And another post I made about the Steem and altcoin ATM https://steemit.com/money/@ackza/my-idea-to-use-generalbytes-altcoin-enabled-bitcoin-atms-to-create-the-first-steem-atms-and-have-one-in-every-major-us-city-to
(Image from @ethbull https://steemit.com/steemit/@ethbull/steemit-economy-101-infographic-s-on-steem-steem-power-and-steem-dollar )
So anyways, I would like to actually start the process of announcing my intent to offer people the ability to meet at a public place (hillcrest lestats 24hr coffee shop with a bitcoin atm so its fitting) now that I have a little bit of cash to play with...lets just start with $100...and i will basically buy up STEEM at around a 7 to 10 percent fee, which is the same at most bitcoin ATMs for small amounts under $100 untill I run out of that $100 cash....I will then convert that STEEM to BTC over poloniex for a very small .1 to .2 percent fee, but the hard part is then converting that bitcoin to cash at a rate like coinbase...because coinbase will make me wait to transfer money to a bank account! If anyone can hook me up with 1 or 2 percent fee to exchange my bitcoin for cash it would greatly help my service which will greatly help and expand steemit to all of the potential users who would like to use it but who are afraid they wont be able to cash out their steem for lack of knowledge on how to use bitcoin! And i dont blame them! Bitcoin can be scarey and loosing your money because you lost a long password strong can be stressful! Just remember to ALWAYS write down ALL passwords on PAPER (or PRINT them out but paper is always most secure) and then PHOTOCOPY that paper andd eep a copy somewhere else hidden in some other part of your house or at a family members house without telling them...or just save the password and dont tell them what its for so they cant steal your stuff lol
(Image I just took from CoinMarketCap.com showing current STEEM prices as of now 2:15PM May 7 2017)
Anyway just imagine....if I could get help with someone to get bitcoins for a cheap rate close to spot (but 2 percent would be ok too) i would be able to buy peoples STEEM for cash and offer them a very low rate about equal to a bitcoin ATM! and i could then create a whole new market for local STEEM to CASH exchangers who can both buy AND sell STEEM for CASH in person (or even online too) but I would LOVE to setup this network in EVERY major city so that all around the world, in every city, there can be at least ONE place to go to exchange steem directly for cash to allow steem to become even more user friendly and easier to use! This can ALSO cut our dependence on bitcoin and allow more people to adopt STEEM as their PRIMARY crypto currency with its alluring 0 transaction fees and 2 second transaction times!
(Image from @CoinTelegraph )
Let me now if you are interested and if you are reading this WITHOUT a steemit account feel free to Send me an email at [email protected] if you would like to sell your STEEM directly for cash and you are either in San Diego or if you live elsewhere and don't mind working out a plan or system where you send your STEEM first (since its non refundable) and then I deposit your cash into your bank account or something like that! I can also send you Bitcoin or any crypto currency of your choice!
This will be a great thing if you can implement them in other places besides just major citys. I know one thing that had discuraged me from being an early buyer of BTC was that the closest atm was in new york city over 200 miles
Yes we need localaltcoins.co to be as simple as possible using peer 2 peer simple steemit based exchanges using steem posts as the proof of listing and comments to show peoples trades and any disputes about what was offered or sold or talked about can be found on the blockchain as all messages are recorded etc
So we can really just use steem as the platform to trade BTC and Altcoins for Cash, or even for Steem/SBD so when someone wants altcoins they can trade directly on here, like by sending their steem or SBD with the name of the crypto currency they want in the memo and the address to deposit it in, and a steemit bot like that maybe even hooked up to bittrex would be so nice,
I have an idea for a special Bot that is just setup to send people an Altcoin (like EOS for example) when it has received STeem and people just put the address in the memo!) i bet we could make good money with auto exchange bots, especially ones hooked up to an exchange like bittrex, kinda to perform the function of @blocktrades but with a lot mroe coins,like for example i LOVE the coins u CAN use on blocktrades, allowing me to get BTC LTC eth dash even USD Tether from Blocktrades from my steem and SBD but imagine getting some ERC20 tokens like the EOS token and other ethereum tokens, imagine being able to buy every coin on bittrex and binance directly from Steem and SBD without leaving your steem wallet! we can also just have a steemit account for every coin and when u send some SBD to the account called "SteemEOS" and your receiving EOS address in the memo, THAT would work a little better because no coin needs to be specified in the memo, one steemit account will be setup for each cryptocurrency, so for example when that "SteemEOS" or "EOSonSteemit" account is setup and hooked up to an EOS wallet, it can then have any amount of Steem (or SBD) sent to it and it will, just like blocktrades, automatically convert it, but unlike blocktrades it wont require a special page, you will just send your receiving address for your EOS wallet in the memo and then the Bot will automatically convert that steem (or SBD) into EOS and send it to the address you supplied in the memo. It can either send what it has or buy it new from an exchange like Binance or even openledger, and I believe a bpt like this could be done using the bots made by @inertia which has open source code that anyone can use, things like @drotto upvote bot or @banjo with many uses, would be a good start to make this? if not maybe there is a simple way to begin this process?
OR maybe the real challenge is just setting up a wallet that can make a payment when your hypothetical Steem for EOS Bot's steemit account receives some steem for example, and a address for EOS in the memo, then you will need to ask your Bot to start the process of sending a specific amount of EOS (calculated by another program to include a fee and include the ethereum transaction fee which is quite high now just to send EOS like a few dollar, still less than bitcoin!) so maybe it can Fetch? or just copy and paste (scrape?) the address from the memo and insert it into the field for a new transaction... so if we can get those two things down, a way to calculate the amount of EOS to send for that amount of Steem received, minus fees and minus our OWN fee we need to make this profitable to make sure there is enough to buy back more, then maybe this wont be so hard. But I bet we could make this work!
I bet this would be REALLY useful for GOLOS as well so people had a simple way to buy Golos directly with steem/SBD WITHOUT having to go through the complex process of verifying themselves with an exchange like bittrex or even learning to use and setup Bitshares ( openledger.io )
I'm pretty sure you have no idea what is actually being said at all...
Thanks for your post and kind words. I hope you succeed in your project and wanted to add that if you are looking for the github repo to add STEEM support to the range of GB crypto ATMs, https://github.com/GENERALBYTESCOM/batm_public should get you started and will allow you to add rate ticker, wallet and exchange interface for vending STEEM from the BATM platform (all 5 models). Let me know if you need assistance in setting this up. Once done, submit your changes (pull request in github) and when all compiles without error we will be able to backport STEEM to all BATM machines in the field (sold since 2013) We make updates available to our our operators every two weeks. https://www.generalbytes.com/support/
thank u! if i hadnt just converted my 1.7 SBD to STEEM just now (takes 3 days to avoid people gaming the conversion rate) i would send u a steem for this! Ialready had the link but I am glad u reposyed it here for convinence ;)
As STEEM grows the need for this service will undoubtedly grow.
Someone should make a site similar to Local Bitcoin when the time is right.
you are a genius...i just bought the .io and .co domain off 1and1! $70 well spent....when i start making money off my localbitcoin clone i will put you on the board and i will break u off fat with some altcoins
EDIT: I just looked at you wallet, i thought since u had no posts u were knew and had no money here....lol u have over a million steem...ur account is worth almost half a million!!?!?!! Was all that recently? did you like have $100,000 when steem was like 10 cents and you just made a great investment ? or have you been just collecting steem from comments
and can i ask how blockshares is able to send you steempower???? How does that even work!?! May I ask what you are doing to make that much money? Is it just money you saved up from your job Or do u trade altcoins I am assuming from your blocktrades stuff? Sorry but u are the biggest steemit whale i have interacted with so far! And i just HAVE to know what you have been doing to get where u are! I feel like if i start growing exponentially i can really start to turn what little i have into some serious steem like u! U are technicaly a steem millionaire!