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authorJohn Bailon <john@sci.ph>2015-09-15 08:02:57 -0700
committerbitcoindev <bitcoindev@gnusha.org>2015-09-15 15:03:00 +0000
commitfc8f71678f5b3a4b72e79499c36ade6e658efcce (patch)
treebc3b1004488f27955d354be62597efee9280a77c
parent109e9db79c49065e6a8dec44e6ec77ec9cf4f2f0 (diff)
downloadpi-bitcoindev-fc8f71678f5b3a4b72e79499c36ade6e658efcce.tar.gz
pi-bitcoindev-fc8f71678f5b3a4b72e79499c36ade6e658efcce.zip
Re: [bitcoin-dev] Instant exchange rates URI scheme
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+Date: Tue, 15 Sep 2015 08:02:57 -0700 (PDT)
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+Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
+Subject: Re: [bitcoin-dev] Instant exchange rates URI scheme
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+Content-Type: text/plain; charset=utf-8
+Content-Transfer-Encoding: quoted-printable
+
+This scheme would mostly be beneficial to end users of instant exchange =
+wallets and would be implemented by the operators. None of the parameters =
+would be filled up by the user by hand. It's more of enabling different =
+wallet operators to communicate with each other and to be able to present =
+to their end users the rates they are getting when sending from their =
+pegged wallet to another pegged wallet. Abstracting bitcoin rates from both=
+ end users.=C2=A0
+
+
+
+
+To illustrate, imagine Alice who has a USD wallet wants to send JPY 10,000 =
+to Bob who has a JPY pegged wallet.=C2=A0
+
+
+
+
+Alice's wallet scans Bob's wallet which tells Alice's wallet the following =
+info:
+
+1. Bob's BTC address
+
+2. Bob's wallet currency is JPY
+
+3. Bob's wallet operator is pricing BTC 1 at JPY=C2=A027,779 for the next 5=
+ minutes.=C2=A0
+
+
+
+
+
+With these info, Alice's wallet can already derive the following:
+
+
+
+
+
+Alice needs to send=C2=A00.35998416 BTC to send JPY 10,000. Alice's wallet =
+can also show how much=C2=A00.35998416 BTC is in USD, which is USD 83.27. =
+Alice's wallet can present it as follows;
+
+
+
+
+
+=22You are sending JPY 10,000 for USD 83.27 to Bob's wallet.=22
+
+On Tue, Sep 15, 2015 at 10:40 PM, Thomas Kerin <thomas.kerin@gmail.com>
+wrote:
+
+> Something very similar was posted not too long ago.
+> Long and sort of it is, there is no point in saying you priced in GBP, =
+etc,
+> because it can vary from exchange to exchange.
+> To be honest, adding more things to consider at checkout time confuses
+> things; why not just specify the amount of Bitcoin you wish to be =
+paid=3F
+> On 15 Sep 2015 11:11 am, =22John Bailon via bitcoin-dev=22 <
+> bitcoin-dev@lists.linuxfoundation.org> wrote:
+>> Hello,
+>>
+>> I'd like to propose a BIP for a standard URI scheme to allow wallet
+>> operators that implement instant exchange or pegging to other currencies=
+,
+>> cryptocurrencies or asset classes to allow for interoperable =
+communications
+>> of rates and other pertinent information.
+>>
+>> The idea is to include in the wallet address as parameters information
+>> that supplements the presentation of a proposed transaction.
+>>
+>> For example, a wallet operator that instantly exchanges bitcoin to gold
+>> would present a wallet address as follows:
+>>
+>> bitcoin:1JohnxNT6jRzhu3H1wgVFbSGKmHP4EUjUV=3Fcurrency=3Dxau&rate=3D0.=
+2084&expires=3D1458432000
+>>
+>> Wherein:
+>> <currency> : the currency, cryptocurrency or asset that the =
+transaction
+>> will end up as encoded in ISO 4217 if applicable.
+>> <rate> : the bitcoin to <currency> rate as dictated by receiving wallet
+>> <expires> : unix timestamp of when the rate loses validity
+>>
+>> This would allow the sending wallet the ability to present up-to-date
+>> exchange rates. When, for example, a wallet operator that pegs to the =
+USD
+>> scans the address above, it would be able to present to the user the
+>> following information:
+>>
+>> 1. USD to XAU rate
+>> 2. How much XAU will be received by the address
+>> 3. How long before the rates expires
+>>
+>>
+>> Thoughts=3F
+>>
+>>
+>> Regards,
+>> John
+>>
+>> =5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=
+=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F
+>> bitcoin-dev mailing list
+>> bitcoin-dev@lists.linuxfoundation.org
+>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
+>>
+>>
+------Nodemailer-0.5.0-?=_1-1442329377656
+Content-Type: text/html; charset=utf-8
+Content-Transfer-Encoding: quoted-printable
+
+
+<div>This scheme would mostly be beneficial to end users of instant =
+exchange wallets and would be implemented by the operators. None of the =
+parameters would be filled up by the user by hand. It's more of enabling =
+different wallet operators to communicate with each other and to be able to=
+ present to their end users the rates they are getting when sending from =
+their pegged wallet to another pegged wallet. Abstracting bitcoin rates =
+from both end users.=C2=A0</div>
+<div><br></div>
+<div>To illustrate, imagine Alice who has a USD wallet wants to send JPY 10=
+,000 to Bob who has a JPY pegged wallet.=C2=A0</div>
+<div><br></div>
+<div>Alice's wallet scans Bob's wallet which tells Alice's wallet the =
+following info:</div>
+<div>1. Bob's BTC address</div>
+<div>2. Bob's wallet currency is JPY</div>
+<div>3. Bob's wallet operator is pricing BTC 1 at JPY=C2=A0<span =
+style=3D=22-webkit-text-size-adjust: auto; background-color: rgba(255, 255,=
+ 255, 0);=22>27,779 for the next 5 minutes.=C2=A0</span>
+</div>
+<div><span style=3D=22-webkit-text-size-adjust: auto; background-color: =
+rgba(255, 255, 255, 0);=22><br></span></div>
+<div><span style=3D=22-webkit-text-size-adjust: auto;=22>With these info, =
+Alice's wallet can already derive the following:</span></div>
+<div><span style=3D=22-webkit-text-size-adjust: auto;=22><br></span></div>
+<div>
+<span style=3D=22-webkit-text-size-adjust: auto;=22>Alice needs to =
+send=C2=A0</span><span style=3D=22-webkit-tap-highlight-color: =
+transparent;=22>0.35998416 BTC to send JPY 10,000. Alice's wallet can also =
+show how much=C2=A0</span><span style=3D=22-webkit-text-size-adjust: auto; =
+background-color: rgba(255, 255, 255, 0);=22>0.35998416 BTC is in USD, =
+which is USD 83.27. Alice's wallet can present it as follows;</span>
+</div>
+<div><span style=3D=22-webkit-text-size-adjust: auto; background-color: =
+rgba(255, 255, 255, 0);=22><br></span></div>
+<div><span style=3D=22-webkit-text-size-adjust: auto; background-color: =
+rgba(255, 255, 255, 0);=22>=22You are sending JPY 10,000 for USD 83.27 to =
+Bob's wallet.=22</span></div>
+<div><br></div>
+<div><span style=3D=22-webkit-text-size-adjust: auto; background-color: =
+rgba(255, 255, 255, 0);=22><br></span></div>
+<div class=3D=22mailbox=5Fsignature=22><br></div>
+<br><br><div class=3D=22gmail=5Fquote=22><p>On Tue, Sep 15, 2015 at 10:40 =
+PM, Thomas Kerin <span dir=3D=22ltr=22>&lt;<a href=3D=22mailto:thomas.=
+kerin@gmail.com=22 target=3D=22=5Fblank=22>thomas.kerin@gmail.=
+com</a>&gt;</span> wrote:<br></p><blockquote class=3D=22gmail=5Fquote=22 =
+style=3D=22margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;=
+=22><div>
+<p dir=3D=22ltr=22>Something very similar was posted not too long ago. =
+</p>
+<p dir=3D=22ltr=22>Long and sort of it is, there is no point in saying you =
+priced in GBP, etc, because it can vary from exchange to exchange. </p>
+<p dir=3D=22ltr=22>To be honest, adding more things to consider at checkout=
+ time confuses things; why not just specify the amount of Bitcoin you wish =
+to be paid=3F</p>
+<div class=3D=22gmail=5Fquote=22>On 15 Sep 2015 11:11 am, =22John Bailon =
+via bitcoin-dev=22 &lt;<a href=3D=22mailto:bitcoin-dev@lists.=
+linuxfoundation.org=22>bitcoin-dev@lists.linuxfoundation.org</a>&gt; =
+wrote:<br><blockquote class=3D=22gmail=5Fquote=22 style=3D=22margin:0 0 0 .=
+8ex;border-left:1px #ccc solid;padding-left:1ex=22>
+<div dir=3D=22ltr=22>
+
+
+
+
+
+
+
+Hello,<div>
+<br>I'd like to propose a BIP for a standard URI scheme to allow wallet =
+operators that implement instant exchange or pegging to other currencies, =
+cryptocurrencies or asset classes to allow for interoperable communications=
+ of rates and other pertinent information.<br><br>The idea is to include in=
+ the wallet address as parameters information that supplements the =
+presentation of a proposed transaction.<br><br>For example, a wallet =
+operator that instantly exchanges bitcoin to gold would present a wallet =
+address as follows:<div>bitcoin:1JohnxNT6jRzhu3H1wgVFbSGKmHP4EUjUV=3Fcurren=
+cy=3Dxau&amp;rate=3D0.2084&amp;expires=3D1458432000<br><br>Wherein:<br>&lt;=
+currency&gt; : =C2=A0the currency, cryptocurrency or asset that the =
+transaction will end up as encoded in ISO 4217 if applicable.=
+<br>&lt;rate&gt; : the bitcoin to &lt;currency&gt; rate as dictated by =
+receiving wallet<br>&lt;expires&gt; : unix timestamp of when the rate loses=
+ validity<br><br>This would allow the sending wallet the ability to present=
+ up-to-date exchange rates. When, for example, a wallet operator that pegs =
+to the USD scans the address above, it would be able to present to the user=
+ the following information:<br><br>1. USD to XAU rate<br>2. How much XAU =
+will be received by the address<br>3. How long before the rates =
+expires<br><br></div>
+<div><br></div>
+<div>Thoughts=3F<br><br><br>Regards,<br>John<br></div>
+</div>
+</div>
+<br>=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=
+=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F=5F<br=
+>
+bitcoin-dev mailing list<br><a href=3D=22mailto:bitcoin-dev@lists.=
+linuxfoundation.org=22>bitcoin-dev@lists.linuxfoundation.org</a><br><a =
+href=3D=22https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev=22=
+ rel=3D=22noreferrer=22>https://lists.linuxfoundation.=
+org/mailman/listinfo/bitcoin-dev</a><br><br></blockquote>
+</div>
+</div></blockquote></div><br>
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