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Author Topic: Rapid BTC to fiat exchange via agents  (Read 1191 times)
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June 04, 2011, 10:06:31 AM

Hi All,

Was considering a method for exchanges to get more rapid transmission of exchange between fiat and btc, the obvious solution seems to be that clients on a given exchange have the option of acting as a conversion agent for a fee, has any exchange implemented this yet?

This would work in this way;

User A is registered as a member of a given bank
User B is registered as a member of that same bank

B wants to buy BTC
A wants to sell BTC

The exchange facilitates the transaction by having B transfer funds directly to A via bank transfer and crediting B's account with the BTC for the transaction from A's account.

A gets instant local fiat and B gets instant BTC.

The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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April 19, 2013, 08:32:05 AM

I don't know of any exchanges doing this, but I think it's a great idea, and should be resurfaced (hence my post) now that new exchanges are in that position.

Coinbase, while not allowing trades yet, is one of the promising potential future exchanges that could implement this.
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April 19, 2013, 08:35:50 AM

Wire transfer fee.
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