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Author Topic: Using Bitcoins in a Real Goods Economy  (Read 669 times)
KBundy
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July 21, 2011, 05:06:58 AM
 #1

Greetings all,

I believe there is a way we can use of bitcoins for real goods and services on a day to day basis.  Instead of only for contraband and speculative trading, imagine using bitcoins to get a slice of pizza, or to pay for a beer at a bar.  Like every great movement, every idea whose time has come, it is up to the people who support it to spread the news.  Start small, maybe it's just your friend, maybe your family, maybe just you wife or husband, share the good news, a free economy is here!
It's possible, and here's how.

Step 1) Trade them with friends for various random items, its cool, its hip, and it'll get bitcoins into the hands of more people.
Step 2) Hit your local corner store, ask them if you can pay for things with your bitcoins, tell them pretty soon they can order things for the store using bitcoin too!   (Hint: A key selling point when dealing with smaller shops is not paying taxes, and not having to pay Visa 3 cents every swipe, try talking to the day-manager if possible as well.)
Step 3) Get in contact with the distributors that supply the smaller shops around your local community.  Tell them that you, along with thousands of other consumers, and even some of your local retailers have started using a tax-free currency.(as long as they follow step 4)
Step 4) All that's left is the Local Farmers, Craftsmen, and Skilled Builders!  Once the suppliers from step 3, who buy from farmers and those who craft goods, have begun to accept bitcoins from the retail stores they serve, they will be able to pay these local producers in bitcoins, who can then use them to buy the other things they need at retail stores.
Step 5) Businesses pay employees using the profits they earn, everyone wins because those profits aren't skimmed by the IRS, banks, and credit-card companies!

As long as the currency remains in bitcoins throughout the entire process, and not sold for dollars at any point, there will be no inflation and no way to tax the system.  I've started local, telling friends, family, and a few stores, with better reception from some than others, but as this gets more and more popular, this system can work if we make it work!

-KBundy

- Welcome to the new free economy
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July 21, 2011, 06:04:13 AM
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Its just like handing over virtual cash, like when you give your friend some cash, you give them some coin, obviously they know you've given it to them but they dont know where its come from, also there is no transaction fee when you pay your friend for example, i think if there was some really awesome iphone, android applications where people could just send money too each other also pay for stuff in shops, pizza take aways etc.. it would do really well then
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July 21, 2011, 03:03:30 PM
 #3

Though it has to be said, people may start avoiding you if you harass them to download BitCoin software.

"If you kill me you will not easily find another like me...a sort of gadfly, given to the state by the God."
KBundy
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July 21, 2011, 04:47:40 PM
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Hello again,

You guys are both right, the android app is the first real step I've seen towards creating this new economy.  An iPhone app would help out immensely helpful in "spreading the wealth" as well.  If anyone out there has the technical know-how to make such an app for the iPhone, I can't tell you how helpful that would be in spreading bitcoin to others.

And then we come to the not so gentle truths, people are reluctant to try new things.  Even when the new things could be potentially beneficial to them, one will stick with what is more comfortable to them. 

So we have one good idea, getting bitcoin into people's pockets via their phones.  Anyone else have ideas on how to.

1) Spread the good news about a new free economy.
but
2) Avoid getting run out of people's shops for hounding them during business hours.

-KBundy

- Welcome to the new free economy
RodeoX
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July 21, 2011, 04:55:32 PM
 #5

I like your ideas. Only 2 posts and they are constructive? Your off to a good start. Grin
Another strategy for helping a business get into bitcoin is finding ways for them to try it out with little risk. For example; A store could put just a few items for sale in BTC instead of their entire stock. 


The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
KBundy
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July 21, 2011, 05:33:50 PM
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Quote
Another strategy for helping a business get into bitcoin is finding ways for them to try it out with little risk. For example; A store could put just a few items for sale in BTC instead of their entire stock.

Great idea! Risk avoidance is key in convincing businesses to alter their practices.  I was considering offering to pay 5-10 cents more for products I would normally buy anyways if they tried out my new currency.  Coupling that, with the promise that its an opportunity to widen your market, businesses are sure to start taking notice.

I have another problem that arose in my quest to spread the good news that I could really use some help with.  It is the reluctance of people to pick up on something that they perceive to be too complicated.

Is there a simpler, cleaner, and more concise way of organizing the innate complexity that is bitcoin into something the everyday person is able to pay attention to and mentally digest?

-Kbundy

- Welcome to the new free economy
seandgwilson
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July 21, 2011, 05:41:42 PM
 #7

I really like the idea of having a mobile App that acts as a virtual wallet and a small dollar amount transfer platform, it is something me and my team have been discussing for a while.  A couple of questions as to the functionality of such an app:

How do you deal with the changing "value" of bitcoin on the open market? - If we are dealing with users who are not bitcoin savvy, and they "load" their mobile bitcoin wallet at the days FX rate, if the FX rate changes, their purchasing power goes up or down adding significant risk that may scare many users off.

What are the most efficient (fast and low cost) ways to move currency (USD, CAD, EUR, etc) into and out of bitcoins?

Hope to get some feedback as I really like the idea of mobilizing bitcoin and spreading its use to everyday transactions


KBundy
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July 21, 2011, 05:55:43 PM
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If we are dealing with users who are not bitcoin savvy, and they "load" their mobile bitcoin wallet at the days FX rate, if the FX rate changes, their purchasing power goes up or down adding significant risk that may scare many users off.

Thank you for your input, and I completely agree with you, the risk factor is huge. This alone will be enough to scare many new users away.  This idea however is only an issue if your still trading your bitcoins back to dollars at the end of the day.

I'm shooting for something completely different, something truly and honestly, free.  So long as the USD is the eventual "end goal" of anyone within the new economy, it cannot truly be free.

The real goal is, get the entire supply chain, from farmers and craftsmen, to the corner store on your block, and back again, all of them, using only bitcoin.  Besides the obvious benefits of a currency that isn't being inflated out of control, the system also gives a big "screw you" to the IRS.  We keep what we earn.

-Kbundy

- Welcome to the new free economy
RodeoX
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July 21, 2011, 06:14:25 PM
 #9

I have another problem that arose in my quest to spread the good news that I could really use some help with.  It is the reluctance of people to pick up on something that they perceive to be too complicated.

Is there a simpler, cleaner, and more concise way of organizing the innate complexity that is bitcoin into something the everyday person is able to pay attention to and mentally digest?

-Kbundy

No. lol
It is kinda hard for a normal person to use right now. That should be changing over time as the client moves out of it's beta iterations.  We still need automated wallet encryption and a few more features that make the client "user friendly".  Other ideas such as bitcoin devices, secure online wallets, and seamless shopping cart modules will eventually lead to a click-buy economy.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
KBundy
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July 21, 2011, 06:33:25 PM
 #10

Lol, your honesty on the matter is much appreciated.  There really is no simple answer for people when trying to explain it.  Sad as it is, people are severely lacking in cognitive function these days, and many are afraid of what they cannot understand.

I also agree that with time we will see more clean cut and easy to use clients with simple security that everyone can figure out.  I sure hope that developers are reading these forums, they are the one's who hold the power to expedite the future of the free economy.

I had another idea for advertising and promoting.  Bulk order some 64Mb SD cards, or maybe some very inexpensive USB drives, put bitcoin wallets on them, and give them out for free to people in public forums, accompanied by the words "Here you go, first wallet's on us. Welcome to the Free Economy. Bitcoin."

-Kbundy

- Welcome to the new free economy
RodeoX
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July 21, 2011, 06:49:52 PM
 #11

I made a usb based client for a non-tech friend of mine. It worked well for his needs. But some users are going to be afraid to stick that thing in their PC. It could easily be a scam. Maybe a client that waits until some number of bitcoins is deposited, then mails the wallet to an attacker.  It's a good idea if you can trust the person giving you the USB.

-Cheers

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
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