I have an idea.Preamble
A problem at present is that it's a little tedious to buy and sell BTC in the lesser known currencies. That's where Hendrick's CoinPal and CoinCard are handy in a way, but presumably by necessity this carries some significant transaction fees.
Britcoin's system looks good if you want to run a full-on trading system; but what if all you want to do is buy $50AUD worth of BTC or Vice Versa ad-hoc without having to sign up? Suggestion
We need a package of some sort that anyone an any country can install and allow them to become a BTC to [Currency] converter at minimal cost.
It would need to
- Know how many BTC the site owner has available
- Know how many [Currency] the site owner has available
- Generate a unique code for EFT payee reference for incoming payments in [Currency]
- Calculate the current exchange rate in [Currency] via MtGox and / or other trading platforms, combined with another currency lookup website if there are no trading platforms running in [Currency]. *
- Allow the site owner to specify his own markup method and amount
It's a bit of a job. I don't know how to do parts of it, and the few people I've approached online and offline don't seem interested, even with money on offer. (Too busy, too different, or simply no-reply.)
What I really want is someone to build this system in exchange for payment, and I'll open-source donation-ware optional the result.
I don't really care what the container. It could be a Joomla addin. It could be a WordPress addin. It could be standalone php/MySQL install.
Anyone interested in quoting on this job or have any comments on its viability?Notes:
* For example, to calculate the value of BTC in AUD you'd first get an averaged per unit trade rate from http://mtgox.com/code/data/getTrades.php
and then feed that result into something like http://xurrency.com/api
to get the current figure.
# Not planning any real-time integration with financial institutions or BitCoin at this time.
% The fact that BritCoin is able to trade without apparently needing a beginning infusion of BitCoins appears to suggest that it should be possible to get started without a particularly high initial BTC balance.
^ Security may be an important consideration when storing customer EFT details, etc.
@ Could probably be extended to work with BPAY, TechnoCash etc in the future.