Co-founder of Shake, a 0 fx 'bitcoin' debit card, looking to get to know the Dash community

A

aiouy

Member
Hi everyone,

I'm new to the Dash world and I thought I would introduce myself. Jean, from Canada, been into cryptocurrencies for a few years now and working on a 0 fx bitcoin debit card that allows users to buy things online and in person using mobile tap & pay. You can check out our website, shakepay.co, if you'd like to know more.

An early user recently messaged me about integrating Dash as a method of funding Shake debit cards. He briefly explained the idea of Masternodes and rewarding interest to users who store funds in their debit cards. As a outsider, this piqued my interest to learning more about Dash and the more I read the more I get these ‘wow, that’s what bitcoin should have done’ moments.

I’m here because I’d like to get more familiar with the Dash community, to get to know some of you, and how you see Dash being used in the next year(s). If I’ve inspired some ideas for using Dash with Shake I’d equally love to hear them.

Jean
 
Hello and welcome to the community.

This post here lists some pretty cool chats that exist. Since I'm biased I think you should join our 'unofficial' public slack channel (what really makes anything official?) :)
https://digitalcash.slack.com
Invite can be gotten from here
https://digitalcash.signup.team/

Your website is cool. Currently I use my dash to make bets, send to friends, and sometimes purchase domain names. It would be really cool if I could go to one of the local fast food spots and buy a burger and a milkshake with my shake debit card loaded with DASH. Would it be hard to integrate dash into your platform? Is that something you guys are leaning toward?
 
aiouy said:
Hi everyone,

I'm new to the Dash world and I thought I would introduce myself. Jean, from Canada, been into cryptocurrencies for a few years now and working on a 0 fx bitcoin debit card that allows users to buy things online and in person using mobile tap & pay. You can check out our website, shakepay.co, if you'd like to know more.

An early user recently messaged me about integrating Dash as a method of funding Shake debit cards. He briefly explained the idea of Masternodes and rewarding interest to users who store funds in their debit cards. As a outsider, this piqued my interest to learning more about Dash and the more I read the more I get these ‘wow, that’s what bitcoin should have done’ moments.

I’m here because I’d like to get more familiar with the Dash community, to get to know some of you, and how you see Dash being used in the next year(s). If I’ve inspired some ideas for using Dash with Shake I’d equally love to hear them.

Jean
Click to expand...
What's up fellow Canuck? Looking forward to a great relationship here... Dash is great due to its digital cash-like qualities of private, instant transactions. It has a great base to work with, and much more development on the way. Thank you for showing interest in Dash.
 
Would putting your Dash in a credit card account really be safer? I don't think that'd work with Masternodes.

However:

What we really need is a way to go from Dash to fiat to pay for things. And what would be a little more revolutionary is if we could put our Dash into our card just before using it, so that the safety of our coins remains in our control. This might be possible due to instantX (instant - fully confirmed transactions) Especially with Evolution (the new iteration of Dash coming later this year). I mean, this is only a thought but I think it'd be cool if someone could make it so that our transactions could instantly be converted to fiat, never leaving personal control until the transaction is sent. And I think this could be possible because Evolution will no longer have a limit on instantX transfers (put in place merely because it was a new technology and the Dash team was being conservative) InstantX has proven to be very stable and secure, and in fact, Evolution is completely built on the principles of InstantX.

So if IX transactions can go to Shake instantly, then Shake can send them to be converted instantly, there would be virtually no price flux happening in that time period, and we could have an instant gateway to fiat purchases.

Anyway, THAT would be beyond awesome :)
 
buster said:
Hello and welcome to the community.
Would it be hard to integrate dash into your platform? Is that something you guys are leaning toward?
Click to expand...

Shouldn't be too difficult. Right now we're dealing exclusively in bitcoin and the confirmations wait makes it somewhat frustrating. Nothing concrete on our todo lists but we're exploring and so far Dash has been a pleasure to discover :).

InTheWoods said:
I have suggested the idea early February. Some debit card bitcoin companies are already looking into it as a result, but it would be cool if you guys would be the first to make it happen and beat others to the punch.
Click to expand...

Thanks for the link, this is great!

TaoOfSatoshi said:
What's up fellow Canuck? Looking forward to a great relationship here... Dash is great due to its digital cash-like qualities of private, instant transactions. It has a great base to work with, and much more development on the way. Thank you for showing interest in Dash.
Click to expand...

What's up, what's up! Where-abouts in Canada are you from? Montreal here.

Dunedoo said:
Running a masternode on a debit card, interesting, any white board ideas to share?
Click to expand...

Nothing concrete. I was chatting with Perry from Node40 about running masternodes using users deposited funds. What's tricky is being able to pool user funds into funding one shared masternode such that each user must always have control over their funds yet also have the ability to spend them on request (e.g. when they use their Shake card). I can vaguely see a solution for funds deposited in Dash currency are stored in a multi-sig wallet but if you have suggestions I'm all ears :)

TanteStefana said:
Would putting your Dash in a credit card account really be safer? I don't think that'd work with Masternodes.

However:

What we really need is a way to go from Dash to fiat to pay for things. And what would be a little more revolutionary is if we could put our Dash into our card just before using it, so that the safety of our coins remains in our control. This might be possible due to instantX (instant - fully confirmed transactions) Especially with Evolution (the new iteration of Dash coming later this year). I mean, this is only a thought but I think it'd be cool if someone could make it so that our transactions could instantly be converted to fiat, never leaving personal control until the transaction is sent. And I think this could be possible because Evolution will no longer have a limit on instantX transfers (put in place merely because it was a new technology and the Dash team was being conservative) InstantX has proven to be very stable and secure, and in fact, Evolution is completely built on the principles of InstantX.

So if IX transactions can go to Shake instantly, then Shake can send them to be converted instantly, there would be virtually no price flux happening in that time period, and we could have an instant gateway to fiat purchases.

Anyway, THAT would be beyond awesome :)
Click to expand...

Ah ha! This is where some magic on our side happens. We can store your deposited Dash funds in Dash such that the value stays in Dash at all times. At the moment of a transaction, say you tap your phone at a coffee shop, we'll check your Dash balance and, if you have enough balance to pay, we'll quickly debit the funds, do the conversion, and approve the transaction. That way funds are stored in Dash (to run a masternode) yet always available for transactions.


Is multi-sig available on Dash? Where can I read more about this? What about the ability to share funds for one masternode; any idea how this would work?

Great to meet you all!
 
aiouy

There is no built-in way to share Masternodes. Some community members offer Masternode shares as a service. If you were to offer Dash masternode based interest paying debit cards you'd need to do some risk management on your side and figure out the amount that would be withdrawn on average. You'd also need to hold some Dash reserves to meet withdrawal demands without messing up with the Masternode collateral which needs to stay put. Your profits would offset these extra risk management costs. On a large enough scale this won't be much of a problem. You could also work with Node40 and have them handle some of this burden. You could also offer term deposits with higher interest rate on top of the lower dynamic interest rates that would apply to your standard Dash debit card.
 
Last edited by a moderator:
aiouy said:
...
Is multi-sig available on Dash? Where can I read more about this? What about the ability to share funds for one masternode; any idea how this would work?
...
Click to expand...
Multisig is available as part of the bitcoin protocol, same console/cm-line commands here, see example https://dashpay.atlassian.net/wiki/display/DOC/Multisignature+example
However masternodes are not allowed to use multisig for their payee address so there is no trustless way to share masternode (yet).
 
UdjinM6 said:
Multisig is available as part of the bitcoin protocol, same console/cm-line commands here, see example https://dashpay.atlassian.net/wiki/display/DOC/Multisignature example
However masternodes are not allowed to use multisig for their payee address so there is no trustless way to share masternode (yet).
Click to expand...

Hi Jean. Nice to see you on the forums. This is Perry from Node40. As UdjinM6 mentions, multisig is not available to masternode owners yet. I have some other ideas about how to make this work and am happy to discuss after you get more acquainted with Dash. I think it will be a win-win for Shake and Dash in general.
 
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