Parity for Bears is $1 = 1 BTC Parity for Bulls is $1 = 1 Satoshi  |
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Let's see if I can take your idea to the nth degree.
Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.
Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.
That's a good idea. Kinda like the bitcoin faucet, only with offline notes. Did you figure out how to monetized it, possibly for a 6-7 figure yearly income? Here's the beauty of my idea. I can share the idea, for free, with the hope of somebody else doing it, and I, as well as everybody else who holds Bitcoin, profit. There's no way to lose, with the exception of not doing the idea. Interested? I already have a business plan with Bitcoin, but any pm is in strictest confidence. I am more interested in awareness now because I can do this cheap. If you have a MLM plan, I'm sure a lot of people would be interested. Is it perhaps something that can be done as an open source project and developed further? |
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Let's see if I can take your idea to the nth degree.
Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.
Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.
That's a good idea. Kinda like the bitcoin faucet, only with offline notes. |
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$0.05, so what is the utility to support ratio at that price? I don't see Bitcoin recovering from a drop like that.
Easy. If that happens everybody holding onto bitcoins would have lost. There would be a absolute consensus that bitcoin is not suited as a speculative vehicle. Enthusiasts will still mine them and use them for things like micropayments, gambling and so on. All bitcoins to exist would still be values at 1 Million USD. The rest of the world consider bitcoin a fringe and a collapsed ponzi scheme (well the irony is those people made it one in the first place, you can make everything into one...) Eventually there would be demand building up because the surrounding projects get more sophisticated and even if it rises back to 1 USD at this point the mainstream would still avoid it. Hell that would be awesome, but I doubt it will happen / collapse to this point. Hey, that would be a time to think about opening that 10,000 Bitcoin Pizza place (/snark) Seriously though, my point was that a utility to support ratio would not replace the speculative bubble at that juncture. I'll reiterate my point. Bitcoin will always be volatile. There is a big difference between prices fluctuating between 2-3 USD and 99-100 USD even though it's still only a buck.
I do not agree that Bitcoin will recover from $0.05. This needs to be avoided. |
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[Heh, well I want to give away hundreds, but I'm not prepared to buy hundreds of Casascius collectable coins for this. I give them to close family and friends. I want something that I can use to "carpet bomb" people with Bitcoin awareness.
Agreed... that's quite an overhead.. I did buy a dozen to promote the economy (his mostly LOL) because they are a neat idea and gives people something to hold on to... so thats why I really like my OP below... I'm looking forward to causing a frenzy in my email distributions and see who'd going to be keeping a close eye on them to get the Bitcoins. I'm planning to give these away to college teachers to give away, stores to hand out, or anyone else that wants them. I'll be spending more on ink and paper than Bitcoin, but 'tis the season!  |
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If no one holds on to bitcoins, then they won't have value. We "need" at least a few businesses who are fine with keeping bitcoins as part of their balance sheet. This will require other businesses (suppliers) to accept bitcoins, so that it can really be a "currency" rather than simply a transaction mechanism. Well it is impossible for "no-one" to hold Bitcoins by defintion someone is always holding them. If a merchant or consumers doesn't want to hold them a long time then the value is low but not zero. I would rather Bitcoin supported on the fundamentals even if that is $0.05 than this never ending dreams and schemes to get Bitcoin to an unsustainable price. Bitcoin has utility as a method of exchange @ $0.05 and if it reduces volatility (and slowly rising price based on increasing utility) then it can eventually lead to utility as a store of value. So you are saying that rising price (based on increasing utility) will be the fundamental support of Bitcoin? You are also saying that decreased volatility will lead to utility (you used that word 3 times in two sentences so it must be important) as a storage of value. You mention $0.05, so what is the utility to support ratio at that price? I don't see Bitcoin recovering from a drop like that. |
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Heh, well I want to give away hundreds, but I'm not prepared to buy hundreds of Casascius collectable coins for this. I give them to close family and friends. I want something that I can use to "carpet bomb" people with Bitcoin awareness. |
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This reminds me of the Christmas gift letter from casascius too! Do you have a link? I'm working on some graphics that might work. Any suggestions would be nice. |
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I say again "why is the price GOING UP either necessary or desirable?"
Simple. Bitcoin will always be volatile. There is a big difference between prices fluctuating between 2-3 USD and 99-100 USD even though it's still only a buck. |
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Send an email to all your friends and family stating that you will give away $1 USD in bitcoins each day for the next 30 days to this email list.
Give them instructions on how to download the clients (point them to BitcoinIntro.com if they are a noob).
Then, each day, send $1 in Bitcoins to an instawallet address and post the URL to the email list.
It doesn't have to be Instawallet, but it's the most intuitive interface for noobs. If you have a higher class of friends, then post private keys, or do some simple xor on them as a puzzle.
It doesn't have to be this specific amount, or frequency. It's just meant to light another fire under Bitcoin.
Post your experiences.
Heh, I posted a similar idea a couple hours ago. https://bitcointalk.org/index.php?topic=52295.msg624013#msg624013I would use key pairs like bitaddress.org and pique theircuriosity. |
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<sarcasm>
I speculate that a new name for the United States of America would bring peace over the world...
</sarcasm>
I suspect that a new name for Atlas ... |
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I propose we spread the word about Bitcoin by giving away physical key pairs of the smallest denomination we can. Tell folks that someday it may be worth a lot, perhaps enough to retire on. We can include the Bitcoin.org website, but explain that the amount given is potential worth only and not worth anything at the moment. It's like a lottery ticket that has a high probability of winning someday.
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Renaming has been discusses and there are many options. Naming the denominations between the Bitcoin and the Satoshi would be useful. The term Bitcoin is our brand and like it or not we should not change it lest we appear shady. Besides, when it is adapted globally there will even be different flavors of Bitcoin addresses like the "green" ones we have now.
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I say pander to the audience. Let's not coddle Bitcoin. It will survive or die based on it's own merits. If it is robust enough to survive all the attacks it has so far, then that says a lot. If people want to use it for illegal purposes, they can try, but there is risk and law enforcement is getting much better with cybercrimes. Right now gambling seems to be one of the most popular aspects and while it may or may not be illegal, libertarians may like the idea. Only a very small minority of people will commit crimes with Bitcoin anyway.
I know it's late and you may not even see this, but I thought I would add one more item anyway:
With Bitcoin you can hand someone a physical note for a purchase which they can turn around and spend or send online. This is probably the most important feature. You cannot do this with cash or even debit cards without having bank accounts to go through.
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I understand that many people have very different political views, but please keep in mind that the majority of the listeners to this radio show
think:
1.Taxation is the moral equivalent of theft.
2. The draft is the moral equivalent of kidnapping and slavery.
3. The government is the most successful organized criminal gang in a particular area.
4. Because of the first three items, they want nothing to do with the state.
Thank you all for your advice.
I am taking all of it into consideration.
Excellent insight on freetalklive's listener base but remember, somewhere down the road another interview may take place with a different type of audience, as you mentioned, and taboo talking points could easily come back to haunt us. Hmm. I've actually thought for a while that Bitcoin may first be adapted by fringe and radical groups. |
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If bitcoin keeps shrinking at this rate we'll have to move the decimal point further to the right.  |
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I would make a grocery list of all the known features and benefits of Bitcoin. There are as yet unknown business opportunities that have yet to be explored. If the reporter tries to steer you into "gotcha" questions, bring up something "you just thought of" that changes the conversation. In other words keep the focus on the frontier spirit of this technology.
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What's the money for?
You got a camera? So go out and film it!
You don't need money for this.
Actually i don't have the camera. Renting a Panasonic P2 camera is $500/day. (the one from the mobile checkout video) Camera Operator $200 Graphics and Animation $500-$1000 VoiceOver $100. Or on-screen talent $300. Editing $500 Soundstage rental $300 So the $800 we are asking for will only cover about 30% of the cost of producing a professional video. Video quality is not nearly as important as audio. Use a shotgun mic if possible and for lectures a locked down consumer camera is fine. A backup camcorder is great for cutaways. Use basic editing software and simple bullet slides. If you can get copies of the powerpoint frames from the lecturers, then even better. A well edited and produced video is much better than a poorly made video shot on expensive gear. |
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In Buckley v. Valeo SCOTUS ruled that spending money is speech. I'm just not sure they would consider Bitcoin as money.
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