You said "small," so would the transactions be happening frequently? Are they a friend of yours or are you trying to create a service?
Frequently: i hope so
Friends, to start creating a service with - if it works as supposed, maybe.
At the moment, the plan is - to "create" something including a little "how-to" for everyone that knows somebody with a business
(in the family, good friends, people that trust you and you see every day),
to enable them accepting BTC, without risk or extra work to be done on the merchant side.
Just think of Bob as a very good friend, that would like to accept BTC for his goods, but doesn't want to have any more work or "risk"
than getting the € from me, next day.
Or think in a "everybody can be a local Bitpay"-way
Don't think about how I make my cut of this for now, but in a simple example:
Bob receives 3 payments in BTC from his customers, in a timeframe of 3 hours.
20 + 15 +15 € in BTC and our agreement is, that he gets the overall sum of € next day from me.
If I only get 45€ for these amounts of BTC sold on a exchange, due to waiting to long to sell them, i made a loss.
The point is NOT to do the trades manually, as
I have the risk of some volatility if I am somehow busy for a few hours.
Especially, if this works as supposed, maybe other Friends/Businesses want to use my service
and could have even more more frequent receivings - or on other day/nighttimes... i don't want to sit all day doing stuff manually
At this point i solved most of the problems - except for
a "tool" or script, which i can install on a PC or Server
- that monitors a few addresses every x minutes
- if a transaction comes in, waits for 1-6 confirmations
- and based on the BTC amount of that transaction(ID)
- generates a new transaction to another defined address
... then based on Kraken-API trigger a sell
OR even better, I was in contact with Ighor from "Bitcoin QT-Trader" software.
I hope to finally get Kraken to support his great Tool but i am not sure when this will happen as Kraken needs to get in Contact with Ighor.
Looks like Kraken waits for more requests until they support that tool
Important is:
logging the amount of received BTC and in the Conversion rate in € at that Time (like: received 0,06407721 BTC = € 20,00 on 19:45:32),
Date, TXID, AddressID... and write that into a exportable (Excel for example) Database
So, i had already 2 PM conversations but no one could tell me an estimated Price in BTC for coding this for me.
(OpenSource of course, reviewable etc...you know
)