Hello, @dorth. I appreciate the congratulatory message on my mum's success.
Oh, I didn't remember that there are 5 of you in the escrow team behind @airhawk-project !
For example, we have not allowed any transactions below N310/SBD since the exchange of bitcoin to naira has not gone beyond say 340-365 since we opened for operation.
This is very good for me to know that you exchange SBD's for Naira at N310/SBD.Assuming I was delivering this kind of service, I would make sure that I have at least half a million naira in my account to dole out to Steemians at the price you quoted. Then as soon as there i s a surge in price of BTC, I would sell to take profit. So, tell me, are you planning to for the escrow service @airhawk-project to be a for-profit or not-for profit venture? I'm just wondering how you would break even that this way, in case you are plan to make it a profitable venture.
It was actually through @tojukaka's post that I got to find out about @airhawk-project.
Thank you so much for the useful information, @dorth. Cheers.
Well, what we did ma @maryfavour was to set up a "buyer meets seller" market. We do not have any personal funds going into the project majorly. Only maybe we lobbied some crypto traders who could be available to buy the SBDs that'll be on offer. Then, we regulate the price by setting a range of 0.92 - 1.08 for the price of SBD per time so both parties could chose whichever favours them.
The thing is most of us are members of one bitcoin exchange group or the other and we understand how these process can ease the exchange process. Thanks for visiting the post; and the upvote. RegardsWell, our obligation is to connect buyer t seller, all we need is just for both parties to believe in the process which we have largely achieved if you check the transactions of the @airhark-project account (the movement in and out). The escrow is not getting any gratification as it stands, we take this as our own contribution to the steemit ecosystem as we believe it will encourage more persons onto steemit as they are not bothered with the headache of how to change their SBDs. Invariably, the SBDs won't look like some fictitious monies to them. It also would help them gradually understand the applicability of the blockchain which needs to be understood by all that crypto goes beyond just bitcoin.