Title: [IDEA] Merchant Accounts on Exchanges Post by: GoldenBoar on October 18, 2011, 03:04:49 PM I just had an idea that I think would be excellent for increasing bitcoin popularity among merchants.
Example: I'm selling something that I charge £100 for, but I also take bitcoin as payment and the buyer chooses to pay using bitcoin. I use an exchange's API to query the buy orders and calculate how many bitcoins I would need to immediately sell in order to earn £100. This is the cost of the product in bitcoins. The buyers sends that amount of bitcoins directly to the exchange using the sellers deposit address and the coins are automatically sold immediately. Once the coins have been sold, the exchange notifies the merchant and the merchant completes the buyer's order. This would require the bitcoin client to allow you to enter a reference number and send it as a comment. What an exchange could do to help with this.
Title: Re: [IDEA] Merchant Accounts on Exchanges Post by: kokjo on October 18, 2011, 03:07:22 PM This would require the bitcoin client to allow you to enter a reference number and send it as a comment. the address is the reference number.Title: Re: [IDEA] Merchant Accounts on Exchanges Post by: evoorhees on October 18, 2011, 09:22:39 PM Crypto X Change, which launches in a week or so, is doing precisely this.
Title: Re: [IDEA] Merchant Accounts on Exchanges Post by: semyazza on October 19, 2011, 06:32:35 PM BitcoinCashout.com does this as well for pricing of their prepaid cards.
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