Looking for Bitcoin Econonmists

[BTConomist]

that I totally agree with, but most of miners just want to sell there BTC for cash

How do you know that it's the miners who are actually selling their bitcoins? Current exchange rate fluctuations could be due to Smart Money using the Pump and Dump schemes.

[AlexMerced]

that I totally agree with, but most of miners just want to sell there BTC for cash

How do you know that it's the miners who are actually selling their bitcoins? Current exchange rate fluctuations could be due to Smart Money using the Pump and Dump schemes.

I never said it was the miners selling it right now, but right now there isn't so much of a goods market so what else would people really mine it for at this point. The early stage of these coins is just about production, I think we are about 60% of the way through this stage for Bitcoin, after production has peaked then it's about distribution (people setting up goods and services), and the third phase will be major adoption and establishing capital markets in BTC.

[BTConomist]

right now there isn't so much of a goods market so what else would people really mine it for at this point

How about paying those who promote the adoption of bitcoin through services like The Bitcoin Education Project? We are all in this together, but bitcoin miners have yet to realize that without spending there won't be a bitcoin economy. Hoarding will not get them anywhere in the long-term (the public will soon get tired of the Pump and Dump schemes)... In fact, it may even spell the death of bitcoin, especially if a competing crypto-currency will figure out a way to motivate its miners to spend like there's no tomorrow.

[charleshoskinson]

How about paying those who promote the adoption of bitcoin through services like The Bitcoin Education Project? We are all in this together, but bitcoin miners have yet to realize that without spending there won't be a bitcoin economy. Hoarding will not get them anywhere in the long-term (the public will soon get tired of the Pump and Dump schemes)... In fact, it may even spell the death of bitcoin, especially if a competing crypto-currency will figure out a way to motivate its miners to spend like there's no tomorrow.

Well then put your money where your mouth is, We are accepting donations:

189tfJJhCJFtkr4MZJgcB3yuGTfUh7cvUL

[AlexMerced]

right now there isn't so much of a goods market so what else would people really mine it for at this point

How about paying those who promote the adoption of bitcoin through services like The Bitcoin Education Project? We are all in this together, but bitcoin miners have yet to realize that without spending there won't be a bitcoin economy. Hoarding will not get them anywhere in the long-term (the public will soon get tired of the Pump and Dump schemes)... In fact, it may even spell the death of bitcoin, especially if a competing crypto-currency will figure out a way to motivate its miners to spend like there's no tomorrow.

agreed I sell wallets for .1 BTC

[BTConomist]

The early stage of these coins is just about production, I think we are about 60% of the way through this stage for Bitcoin, after production has peaked then it's about distribution (people setting up goods and services), and the third phase will be major adoption and establishing capital markets in BTC.

These stages will pretty much come and go without any one of us doing anything significant to aid in their progress... Let's just refer to them as the bitcoin project life-cycle. However, what's important for everyone to agree on at the very early stage (before the final product is shipped for consumption) is what type of bitcoin project do we want to distribute: a make believe virtual economy (a.k.a. yet another MMORPG economy) or a real-world BTC-based economy. I tend to have an affinity for promoting the latter form/shape... What about you?

Do we really want bitcoin to be a more realistic alternative to Second Life?

[BTConomist]

How about paying those who promote the adoption of bitcoin through services like The Bitcoin Education Project? We are all in this together, but bitcoin miners have yet to realize that without spending there won't be a bitcoin economy. Hoarding will not get them anywhere in the long-term (the public will soon get tired of the Pump and Dump schemes)... In fact, it may even spell the death of bitcoin, especially if a competing crypto-currency will figure out a way to motivate its miners to spend like there's no tomorrow.

Well then put your money where your mouth is, We are accepting donations:

189tfJJhCJFtkr4MZJgcB3yuGTfUh7cvUL

I'm not in need of your service... But miners are — it's in their best interest to generate demand for BTC. Unfortunately, they still believe in bitcoin being GOLD 2.0, not BTC.

[charleshoskinson]

I'm not in need of your service... But miners are — it's in their best interest to generate demand for BTC. Unfortunately, they still believe in bitcoin being GOLD 2.0, not BTC.

Consider it a donation to the economy as said coins will be used for commerce. We already paid for out website with btcs and also some graphics work in btc.

[BTConomist]

agreed I sell wallets for .1 BTC

As a manufacturer or just a distributor? In any case, your price is way too low.

At that price it only costs an average miner $0.30 to buy a wallet from you.

How much does it cost you to manufacture/source a wallet?

[charleshoskinson]

Much appreciated

[BTConomist]

I'm not in need of your service... But miners are — it's in their best interest to generate demand for BTC. Unfortunately, they still believe in bitcoin being GOLD 2.0, not BTC.

Consider it a donation to the economy as said coins will be used for commerce. We already paid for out website with btcs and also some graphics work in btc.

Only if you can figure out a way to break the hoarding mentality... Right now your focus seems to be on boosting demand for bitcoins, not on spending them as BTC.

[AlexMerced]

agreed I sell wallets for .1 BTC

As a manufacturer or just a distributor? In any case, your price is way too low.

At that price it only costs an average miner $0.30 to buy a wallet from you.

How much does it cost you to manufacture/source a wallet?

Figured that be a price that would go against the hoarding instincts, but I priced so that even at bitcoin being $60/btc I would still at least breakeven.

these are ductape wallets

check it out here: http://www.coingig.com/AlexMercedStore

[BTConomist]

these are ductape wallets

check it out here: http://www.coingig.com/AlexMercedStore

It's nice to see listings with no mention of any currency other than BTC. How has coingig.com been working for you so far: is it worth opening a merchant account there?

[AlexMerced]

it's super easy took like 5 seconds to open up the store, it's pretty darn cool and it automatically reprices your lising based on the market price of BTC

[charleshoskinson]

Only if you can figure out a way to break the hoarding mentality... Right now your focus seems to be on boosting demand for bitcoins, not on spending them as BTC.

Our course mentions bitmit.net and other bitcoin e-commerce websites and will eventually have several lectures to help merchants accept bitcoins. We are actively working at increasing commerce in actual bitcoins.

However, the very first step will always be teaching people the fundamentals of bitcoin. They need to learn how to ride the bike before riding the mountain trails.

I will also mention that we use all BTC donations for services and products sold in BTC. For example btcedproject.org was obtained from orangewebsites.com an icelandic host that sells services in BTC.

Even if you don't decide to donate. I would really enjoy suggestions on how we can encourage more people to use btcs as a medium of exchange. If you'd like to record some lectures, then I'd be happy to post them.

[BTConomist]

However, the very first step will always be teaching people the fundamentals of bitcoin.

What's there to teach? Currency is currency — there's nothing more to it than understanding where and how to buy/sell things with/for it. You don't need an economist for that.

But it's the bitcoin miners who actually need a lesson or two on how to turn their freshly-mined bitcoins into BTC without the help of "pump and dump scheme" enthusiasts.

However, something tells me that they would need to open up their pockets sooner or later in order to pay for those lessons.

[BTConomist]

I would really enjoy suggestions on how we can encourage more people to use btcs as a medium of exchange. If you'd like to record some lectures, then I'd be happy to post them.

How much are you willing to pay for producing these types of lectures?

Perhaps there's a miner who would like to cover these costs for you?
(Let's see how much in donations you'll get after this discussion.)

[charleshoskinson]

How much are you willing to pay for producing these types of lectures?

Perhaps there's a miner who would like to cover these costs for you?
(Let's see how much in donations you'll get after this discussion.)

I think a project of this nature should be worth around 1% of the entire bitcoin economy. It will resolve the PR issue bitcoin faces and bring the mainstream into the currency. It will compel corporations to build products that will use bitcoin as a medium of exchange. It will bring in non-profits. It will give small businesses the knowledge necessary to start accepting bitcoin for their products and services. Citizens of countries with unstable currency can start transacting with bitcoins instead of their local money. This project's value in my opinion is of equal importance as the development of the protocol itself.

[BTConomist]

I would really enjoy suggestions on how we can encourage more people to use btcs as a medium of exchange. If you'd like to record some lectures, then I'd be happy to post them.

How much are you willing to pay for producing these types of lectures?

Perhaps there's a miner who would like to cover these costs for you?
(Let's see how much in donations you'll get after this discussion.)

Let me know when you get enough in donations to pay at least 50BTC per lecture. (Naturally, this fee will be halved in about 4 year.)

[charleshoskinson]

Lol, well you could always assist us in that donation drive. It's been fun talking to you