What would make people want to join the Bitcoin economy? To…
What would make people want to join the Bitcoin economy? To me it seems obvious but I don't know what's stopping other people. What is going to make everyone only want to work for Bitcoin?
Replies
When the chicks wanna see the bits
thats a great question.......Independent thinking? a Brain?
A huge price increase would be the best advertising possible and would convince many devs and businesses that the BSV economic model is the best one out there. Sad but true, there’s only so much recruitment that can be done at price levels like this
That wouldn't be a very good reason. Someone who knows what he's doing would join when the price is low, not when it is high. How do we get people who are actually good?
You need to advertise to raise awareness of the existence of BSV. One way of doing that is by having a higher market cap. Alternatively someone like Coingeek runs advertising campaigns in targeted areas which is what these conferences are all about
A better value proposition and user experience than the services that already exist.
A closed loop micro economy with very little friction where the status quo is poor, or absent.
Motivation for earning: more stable value than any other currency in the world, which it achieves at scale.
Motivation for using: more functional digital payments, securities exchange, and secure/immutable business communication than anything else.
The only advertising that would rationally be effective is a costly signal.
No, stable value is not attractive. At scale I don't believe the price will be stable although it will be much more stable than today. At scale the price will reflect all factors which affect future productivity and there are a lot!
Maybe it is just me. When I get paid I want to be paid in the most stable reliable form. I will choose my own investments after that.
I figure when a majority of the world are transacting in bitcoin on a daily basis, it will take a lot to move the value.
That’s delusional bagholder talk.
Why would it be good for the price to be stable?
I agree. Stable BSV makes no sense. You got fiat.
No matter the price of BSV you can always use BSV.
The price of Bitcoin is everybody's prediction about future productivity. If you want something with a stable price, that means you don't want to predict future productivity. That makes you less useful to the economy.
The Bitcoin economy is much better when everybody wants to be as useful as possible. Everyone is better off when everyone is choosing how much money they want to make based on their assessment of the future of the economy.
https://nakamotoinstitute.org/mempool/i-love-bitcoins-volatility/
No inflation
Very good reason but apparently it's not enough for most people. :)
Right now bitcoin is like a lake, when it rains a lot or not enough, the water level can go up or down. After bitcoin floods and covers most of the earth, it will be the source of rain or lack thereof, so it will not move much.
That's a good analogy except that the rain is the other people, not a natural phenomenon that is external. You are part of the rain. Extremes are a source of opportunity. If you can be the opposite of the Bitcoin economy, you moderate it and do better.
One important thing that is stopping most of people joining Bitcoin is that they can not use it as convenient as fiat for everyday purchase and also because of tax. Do you want to report tax for your everyday purchase?