Automate the transition from SBD to BTC (automatic transfers)
This feature would benefit all who earn SBD on Steemit and who wish to transfer their earnings automatically to an exchange. A useful feature would be if Steemit allowed for "transfer on receipt" to a specified account which gets saved. This is useful because it's easier accounting for the account holder in terms of tax. It is also useful because it automates a process which there is no reason for it not to be automated.
In general people want to turn SBD into BTC in the least steps possible. Currently it takes a minimum of 15 minutes just to exchange SBD into BTC. This would potentially allow it to be smooth. Perfect would be if SBD could immediately flow to the exchanges, be traded as received by exchanges, and then immediately sent to Coinbase, all by scripted/automated process. If someone would like to make this, then many of us would be willing to pay a small fee for the convenience.
Steemit introduced me to the world of Cryptocurrency and since then I got interested about it and have the intention to delve into other cryptos but find it difficult to convert my little SBD to other cryptos. But with this your post I believe a positive option is on the way.. Thanks for bringing up this issue that bothers newbies like us. I appreciate people like you who work for the betterment of Steemit.
Wow that's lovely thanks for educating us
I agree, this would make things a lot easier. Nice idea!
that’s a genuine request!! I hope its considered by the steem platform !!
good news, it's really convenient for users
it would be great to have these feature it will be easy and smooth @Dana-edwards
And the code to do it is not sophisticated either. A Steemit Plugin can probably do it via SteemConnect.
Your news has benefited a lot for me. Get more updates on the news....thanks for share.....@dana-edwards
Good idea!! @dana-edwards
Why would Steemit support this? I see no reason.
However if you're asking for someone to make a bot to do this, that's different.
A bot would be fine but better would to have it be integrated into Steem. Most users I think would use this.
But
I would like to see that function for one or three coins, but two things may stand in the way, now the costs of BTC are so far still too high to make it profitable without a lot lost in fees.... not on Steem end. And ultimately don't they want SBD to stay in the Steemisphere?
Well in any case people have to cash some SBD out just to pay living expenses, taxes, etc. So this is something all of us end up doing manually. Why make the process hard when it can be streamlined and improve the user experience?
I know that @jerrybanfield is hiring a developer and paying him from @budgets to develop a peer to peer transaction system, so that if I have $500 and you have 150 SBD, we can exchange them on this system.
Not exactly what you'd like but definitely a step in the right direction! I have a few developer friends coming to the platform soon, I may mention it to them.
Isn't that what Blocktrades is already?
https://steemit.com/busy/@rizvy/https-www-payoneer-com-raf-rid-07d5640e-2665-4d9d-b001-229a8a339bf4
https://steemit.com/dmania/@rizvy/funny-toon-zg1hbmlh-6x7mn
I think this would be a tough one as I'm pretty sure Coinbase is centralized which does not allow you to hold your own keys. Me...I prefer Bitshares but it does not allow for an offramp. I do know that it is in the works for steemit to go directly to fiat via P2P. The only downside of this would be trust.