Proposal “dash-adoption-tools2“ (Closed)Back
| Title: | Wall of Coins Dash Integration |
| Owner: | rgenito |
| Monthly amount: | 2334 DASH (84804 USD) |
| Completed payments: | no payments occurred yet (3 month remaining) |
| Payment start/end: | 2016-09-05 / 2016-12-19 (added on 2016-08-30) |
| Final voting deadline: | in passed |
| Votes: | 263 Yes / 404 No / 0 Abstain |
Proposal description
Full proposal PDF: https://www.dropbox.com/s/chddplecnxh9xed/dash-adoption-tools.pdf?dl=0
This proposal is to accelerate DASH Accessibility and Adoption in the Wall of Coins Integrated Platform: https://wallofcoins.com
UPDATE: a screen shot of the Project summary page from the spreadsheet budget estimate: https://www.evernote.com/shard/s158/sh/ff503bf1-c582-4b06-946f-1e76ec67a444/d73afc416a3164bf309ecda4a6ff868e
To quote Evan Duffield on the dash.org forum: "Off Exchange Trading - OTC: ...it will be required that we exchange Dash for fiat, because of pre-existing requirements for how we pay certain expenses. To protect the markets from excessive volatility we would like to create an OTC market for Dash." https://www.dash.org/forum/threads/budget-proposal-promotion-reimbursement-core-team.6006/
This Wall of Coins Dash integration proposal will do exactly that: bring Dash to an already established OTC market. Wall of Coins is a very different platform, and there are no other market exchanges as useful and powerful to adoption. Wall of Coins integrating Dash is a sizable project with many benefits to the entire Dash ecosystem.
Here is the Description and Goal statement taken directly from the PDF proposal: "We aim to boost Dash adoption. Today, Dash stands as much less accessible than Bitcoin, and most of the time requiring the end user to jump through the bitcoin hoops to land on Dash. Genitrust will embed Dash into the entire Wall of Coins' (WOC) Accessibility & Adoption Integrated Platform experience that exists today for Bitcoin. By embedding Dash into WOC, we will grease the frictional path to enter and exit the Dash ecosystem, greatly reduced the difficulty faced by Dash newcomers, developers, and websites. Overall as a currency, Dash will have better accessibility and liquidity, better tools for creative Dash app developers, and a huge boost to adoption for the short- and long-term. This is Dash's opportunity to solidify its independence from Bitcoin."
In summary, here are key items that will be delivered:
Proposal should we NOT use all of the budget, or if the Dash price should skyrocket:
This is always a likely scenario. I pledge that should the Dash price raise, or if the project has left-over Dash, our development team will integrate the Wall of Coins experience and API directly into the Dash-QT wallet, other Dash wallets, and we will integrate for any websites or apps that want help with integration. We will do this until any surplus is depleted! :)
I'm happy to answer all questions, and plan to make myself available with scheduled Google Hangout chat times. In the mean time, you can read the detailed PDF proposal here: https://www.dropbox.com/s/chddplecnxh9xed/dash-adoption-tools.pdf?dl=0
This proposal is to accelerate DASH Accessibility and Adoption in the Wall of Coins Integrated Platform: https://wallofcoins.com
UPDATE: a screen shot of the Project summary page from the spreadsheet budget estimate: https://www.evernote.com/shard/s158/sh/ff503bf1-c582-4b06-946f-1e76ec67a444/d73afc416a3164bf309ecda4a6ff868e
To quote Evan Duffield on the dash.org forum: "Off Exchange Trading - OTC: ...it will be required that we exchange Dash for fiat, because of pre-existing requirements for how we pay certain expenses. To protect the markets from excessive volatility we would like to create an OTC market for Dash." https://www.dash.org/forum/threads/budget-proposal-promotion-reimbursement-core-team.6006/
This Wall of Coins Dash integration proposal will do exactly that: bring Dash to an already established OTC market. Wall of Coins is a very different platform, and there are no other market exchanges as useful and powerful to adoption. Wall of Coins integrating Dash is a sizable project with many benefits to the entire Dash ecosystem.
Here is the Description and Goal statement taken directly from the PDF proposal: "We aim to boost Dash adoption. Today, Dash stands as much less accessible than Bitcoin, and most of the time requiring the end user to jump through the bitcoin hoops to land on Dash. Genitrust will embed Dash into the entire Wall of Coins' (WOC) Accessibility & Adoption Integrated Platform experience that exists today for Bitcoin. By embedding Dash into WOC, we will grease the frictional path to enter and exit the Dash ecosystem, greatly reduced the difficulty faced by Dash newcomers, developers, and websites. Overall as a currency, Dash will have better accessibility and liquidity, better tools for creative Dash app developers, and a huge boost to adoption for the short- and long-term. This is Dash's opportunity to solidify its independence from Bitcoin."
In summary, here are key items that will be delivered:
- People who wish to buy Dash can buy instantly without the need to setup an account. For smaller amounts.
- Most buyer purchase amounts can be done anonymously without the need of any privacy-sensitive information.
- Dash new-comers, and even crypto currency new-comers, will have free access to live phone support and live chat support to learn about getting a Dash wallet, sending and receiving Dash, and buying Dash.
- Sellers can liquidate Dash for instant fiat in a peer-to-peer similar to Local Bitcoins, minus the pains: without the risk of identity theft, wasted time communicating with less serious buyers, a better Security Intelligence Layer to protect sellers from scammers and Man-in-the-Middle payment attacks, etc..
- The WOC API will integrate Dash entirely. This will allow app developers full access to the WOC platform's functionality and business back end. Developers will have huge leverage to creative opportunities for their end users and solve problems related to acquiring bitcoin, liquidate bitcoin, and easily "fund their account" once they begin with a 0 Dash balance.
- For example: Dash wallet can integrate the WOC API, providing its end users with the ability to acquire (to solve the initial “0 balance” issue) and liquidate Dash immediately at a nearby location. This is the simplest, proven, and most mature API exchange solution available, which will allow Dash wallet to earn commission revenues to support wallet development.
- The WOC Web Widget will integrate Dash entirely. Website developers can then copy-paste exchange functionality directly into their website. For example, an exchange such as Poloniex can accept local fiat payments for people to fund their Poloniex accounts with Dash. Another example: web pages like Backpage.com and Wikileaks.org can use the widget to accept instant remote cash donations delivered to them in Dash.
- For businesses, Genitrust's business backend will apply the 100% Rapid Cold Storage solution to Dash. No coins will ever be stored in a hot wallet, and withdrawals are just as fast a multisig hot wallets.
- Wall of Coins will also remain 100% transparent with Dash deposits. This is our practice to prove solvency and exchange honesty: https://deposits.wallofcoins.com 
Proposal should we NOT use all of the budget, or if the Dash price should skyrocket:
This is always a likely scenario. I pledge that should the Dash price raise, or if the project has left-over Dash, our development team will integrate the Wall of Coins experience and API directly into the Dash-QT wallet, other Dash wallets, and we will integrate for any websites or apps that want help with integration. We will do this until any surplus is depleted! :)
I'm happy to answer all questions, and plan to make myself available with scheduled Google Hangout chat times. In the mean time, you can read the detailed PDF proposal here: https://www.dropbox.com/s/chddplecnxh9xed/dash-adoption-tools.pdf?dl=0
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Discussion: Should we fund this proposal?
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and secondly this is only for USA, I tryed exit node hopping on theyr site and there are no "Payment Centers" in the other locations. spoke to the support and they dont even have UK or Germany "inventory" like she said.
Furthermore.
This is not something that the blockchain should be sponsoring. It will happen naturally like the companys in the direct-purchase link. There is money to be made doing this and sponsoring one company to develop theyr infrastructure is in my opinion not fair to the other companys who are in the same business.
This will be done without this crazy proposal.
something all of these could pick up and integrate with ease https://plusbitcoin.net/buy-bitcoins-with-bank-account/
Is this proposal to create a new service for Dash? If so, who would run it?
I personally don't want to fund a centralized service. However, if this were to be integrated into the Dash Network, run with the DAPI, I might consider it. Otherwise, as a centralized service, I don't agree with funding a start up, even if you don't plan on making money for all the services you plan to provide. This is something that, in my opinion, and if funded, should be run by the foundation as a non-profit, but we don't have the man power.
Yes, I voted for that ill fated fiat exchange proposal earlier this year. It was a colossal failure at a fraction of the cost of this proposal - on both sides - and I won't make that mistake again. This needs outside funding, outside investors in my opinion.
https://data.bitcoinity.org/markets/exchanges/USD/30d
And without the P2P thing there are maybe hundrets of market places around. What make WOC so special and profitable for DASH that the development of a DASH integration should be payd by the community? Localbitcoins has a monthly turnover of 45000BTC.
And I believe the only reason why you're talking about bitcoin volume is because DASH adoption mostly depends on bitcoin volume. Wall of Coins (WOC) will allow people to adopt DASH *without* having to also adopt bitcoin. With Dash integrated (just as Bitcoin is now), the experience to acquire DASH on WOC will be vastly easier than anywhere else--you don't even need a wallet because our live phone support will help you get a wallet setup. This integration will sever DASH's reliance on bitcoin.
This is POWERFUL!
Does Wall of Coins work outside of the USA?
Soon! :)
As we all know, "soon" on a website usually means "we would like to, but we are unable to do any time planning, so in reality: never"
Anyway, their website is very opaque. I live in Europe. If I click the Buy link, for example, I am merely told "Sorry, there are no banks or payment centers near you!". That's rather unhelpful when it doesn't say A) How they determine my location B) How far away I am from a location (1 mile? 100 miles? 1000 miles?). However, since the FAQ also states that they don't currently work outside the US (although "soon smiley"), everything seemed to point to them not being available outside of the US.
In order for WoC to pass, it would have to bump the following already approved proposals:
Legal (this one) with 393 net votes
Community Outreach with 406 net votes
Dash to Adoption with 420 net votes
Slack Tipbot with 534 net votes
Evolution Development Subcontractors with 541 net votes
PR Fall Campaign with 641 net votes
That means Wall of Coins would have to achieve 641 net votes to pass, in only three days.
In order for WoC to pass, it would have to bump the following already unapproved proposals:
Legal (this one) with 393 net votes
Community Outreach with 406 net votes
It would also have to bump the following APPROVED proposals:
Dash to Adoption with 420 net votes
Slack Tipbot with 534 net votes
Evolution Development Subcontractors with 541 net votes
PR Fall Campaign with 641 net votes
It seems to me that Wall Of Coins is a service, a type of exchange. Do you propose that they run this when it's finished?
If not, who will run this centralized service?
Many of us here are developers. And we don't exactly make huge salaries by contributing to Dash. Seems a bit of a condescending statement to me.
You say you've been in business over 2 years. Bitcoinity put out a warning saying that you didn't pay them for advertising and "treated them like a joke" -- did you have a rebuttal?
a) No disrespect, but you're pretty new to the community. A new member asking for $80,000 is likely to be problematic. That's a lot of money to trust you with, hoping that you are honest and do what you say.
b) There's the issue of prioritization. While Wall of Coins integration would probably be nice to have, that $80,000 can be spent in different areas for a far greater return.
Especially after seeing the Bitcoinity non-payment warnings on Reddit:
https://www.reddit.com/r/btc/comments/46fziy/yikes_bitcoinity_psa_about_wall_of_coins/
https://www.reddit.com/r/Bitcoin/comments/46fwp5/bitcoinity_is_warning_about_wall_of_coins/
That's not to say that we aren't investing in a design upgrade :) Thanks for the input.
What potential market size are we talking about? This is a good question, I am still researching this market myself. I'm sold on the technology; the rest of my research has just been the cherry on top.
How much of bitcoin volume /segment exposure does it bring for this amount of money? I believe this will be the first p2p OTC market for Dash, which that alone is pretty significant for helping Dash with the biggest problems all cryptocurrencies face: adoption. Whatever bitcoin volume is being absorbed due to buyers (and traders) looking to acquire Dash, that volume will not need to be added to the bitcoin ecosystem; people will be able to acquire and liquidate DASH without relying on bitcoin.
Speaking of bitcoin, one thing that is true about bitcoin--and nearly all cryptos--is that they ALL depend on multiple applications just to simply "do money". This API, along with the Dash development community developing on top of the API, can simplify the Dash experience for everyone. People won't have to jump from this wallet, to this exchange, to trade with this cryptocurrency pair, to send to another wallet, etc. etc....
Ps: thank you for asking!
4: Because of InstantSend integration, this makes it possible to buy Dash with cash far faster than Bitcoin. This could actually REVERSE the trend of people buying Bitcoin and converting to Dash, making them buy Dash first, then convert to Bitcoin as necessary.
1: This offers a huge and immediate advantage over virtually all non-Bitcoin cryptocurrencies (including Monero). I was up late last night trying to help a friend find a secure way of getting XMR, and it was hard because there's no service that lets you get it with cash. A Wall of Coins integration would give Dash fungibility and put it ahead of the pack in the privacy game.
2: This gets Dash in people's hands without going through Bitcoin, which establishes legitimacy and permanence instead of being "just another altcoin" that goes through the "real" cryptocurrency.
3: This could easily lead to a domino effect of integration with other services (such as LocalBitcoins for example). Business responds to consumer demand and competition, and if people are buying and selling Dash like crazy on another service, the rest of the market won't want to miss out.