What if I made an application that would allow me to pay freelancers in crypto and have them receive cash?
Example: plumber comes over, fixes the shitter, and I use 'CryptoPay' to send him 5 LINK, which instantly gets converted to $60 through the app, and then instantly deposited on his bank account.
So, illiterate plumber doesn't need to know shit about crypto, and I get to use my crypto in the real world.
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GOD DAMN YOU FUCKING NIGGERS THIS IS A GOOD IDEA
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so basically venmo+crypto. not a bad idea, if it doesn't already exist.
god non-btc fags are always 3 years late to every idea.
strike.zaphq.io
seethe homos
Has this not been what Bitpay does for years and years now?
BitPay
This already exists and won't even be needed in January when we get our digital wallets
What wallets?
>he doesn't know
Fuck off, nazi
Iykyk
I answer OP's question and you call me a nazi? Do you spend all day doing this to random people or what?
No, I'm a complete retard. What wallets?
Why would you even share ur business idea, only thing you can do now that actually makes sense is get in deus.finance
The hot new mental illness theory where we will get another stimulus check (we won't) and the government will set up an online wallet (lol) that doubles as a crypto wallet (LOL) and will pay us in some coin that is getting shilled hard here, thus mooning said coin. This is dumb on so many levels, but people who have run out of meds keep pushing it.
Because the crypto is completely pointless in this situation
>Use USD to buy crypto
>Sell crypto for USD to buy goods and services
I can think of 4 different coins that try to do what you are thinking of. The problem is adoption and taxes.
isn't this what REQ was trying to do....
new much?
OP,
My friend started this.
- He is only 23
- Doesn't show shit about coding
- Took the idea to a well known crypto
- Who said to build the app on their platform
- Gave him 5 figures for free
- He then hired a dev to code
- Went to conference outside of the country
- Looked for more VCs
- Now has a small team from free money
- Got more free money
- Product still closed after 1 year
- God knows what is he testing
But damn, he did it all without knowing everything. Approach platforms who want to shine and tell them you will built it on their platform - so they will pay you free tokens.
the point is for early adopters/whales to spend some of their holdings, while also letting new users buy and speculate and hold if they want.. and also for those who don't want any part of it to find some use for it.
the zap app posted earlier does it. it's US only1 and it's linked directly to a bank account, but i don't think it has any atomic swaps built in - it's only lightning/btc
What need does this solve? It's fucking stupid. Plus any application that can exchange crypto to true fiat has to be massively regulated if you want to operate in a first world country, as you're handling massive amounts of funds that you have to insure and take legally required measures to protect and report on, just like a bank. And like with any exchange where you can receive crypto and cash out, everyone who uses it will have to go through an incredibly inconvenient KYC process to prevent laundering or tax evasion. And you have to also participate in anti-laundering measures required by govt.
There is no need for such a service, plumbers and people you pay will not want to go through the process of setting up a completely different KYC'd app and being verified, and there's a 100% chance it will be unnecessarily expensive to exchange the crypto to fiat due to exchange fees, liquidity and slippage. You would definitely be losing a sizable amount on the conversion. Further, there's little chance it would be an instant transfer with immediately accessible fiat funds. On top of all that, the legal obligations you face to be able to handle this money would be prohibitively expensive and difficult, which is why the only exchanges allowed in the US are the ones who have bothered to meet the rigorous requirements.
It's not worth it, man.
>So, illiterate plumber
Watch your mouth porn addict. We plumbers are smart and make more money than you. Anyways to answer e question you could use REQ.
way to go genius. you've officially "invented" a product that's been around since 2011. idiot faggot bitch.
buy xrp now research later trust me
OP, Strike is legit
this, BitPay
How do you not know sheep...i mean citizen user.
Feel bad for that plumber, there's just no way he could concentrate.
i saw a post a while ago calling farmers stupid peasants or something even though a lot of them are on the same level as engineers lmao
this you would basically need the liquidity up front and arbitrage the crypto you recieve i dont think there would be good way to get it directly into their bank accounts either