We need small communities and towns to create circular Bitcoin economies

[bittraffic]

Good to see there are some adoptions in South Africa. This can be good if they can maintain this such practice even in the bear market.

There had been something like this in my country where they say we can pay anything in BTC in the city. A lot or so they say are accepting BTC but when the bear market came only a few stores left accepting BTC. When the bull market started again, they gradually come back to accept BTC. Seasons come and go I guess.

[dothebeats]

It's a good idea to improve adoption rates in bitcoin however, I think that in this kind of model, someone has to take the hit for bitcoin's volatility. These merchants will not always acquire their goods in a flat rate, and surely will not operate at a loss if they're not millionaires to begin with. This will improve bitcoin's visibility on other people's radar but is not feasible on these merchants in the long run.

If the majority of the world remains dependent on fiat for a huge volume of their transactions, I don't think a circular bitcoin community will survive for long. That cycle will always have a weak link that will cause a domino effect, eventually affecting everyone else around them.

Though at the least, they are spreading the word by just existing. It helps establish confidence to those who are hesitant, and instill inspiration to those who also wants to take that giant step into cryptocurrencies.

[tabas]

It's happening and we're seeing that from every part of the world. There's El Salvador, there's Nigeria however they're struggling due to the not favorable move given by their government. I agree that small communities are a threat to the government when they're formed if they're promoting decentralized systems and that probably was the major issue seen by them and they're now taking steps to stop all of these reformations from the citizens of Nigeria. I remember all of the buzzwords about "blockchain city" with this kind of concept but they never have been brought to fruition. But if they did, for sure they're now advanced and many crypto enthusiasts are going to visit that city someday.

[Antotena]

If you watched the video, you will see that it first started with 1 merchant and then more merchants and shops in the same town and then it spread to the neighboring towns.

Rome were not built in one day, but it started with one or two houses and it grew from there... and the same thing can be applied to Bitcoin adoption.

Let's build a Bitcoin empire!

Rome might not be built in a day but you know that you have to behave like a Rome person when you are in Rome, you can't do otherwise else there might be some consequences. I'm talking about place where Bitcoin is prohibited, you can't push adoption to places where they don't want you, it can only be done in places where they want to see Bitcoin. There are some countries that Bitcoin is prohibited, such adoption will only invite problems to your doorsteps.

Another thing is that Bitcoin payment means that you will be paying tax for converting your Bitcoin into cash apart form the taxes you would have paid for running your business, it will be too complicated and uninteresting for a merchant to accept Bitcoin and hold because there wouldn't be flow of cash and when it's time for restocking, you wouldn't have cash to buy new products and it's not everyone that will accept Bitcoin if you offer them such option.

[yhiaali3]

The dream of building a Bitcoin empire is a beautiful dream that makes Bitcoin lovers everywhere ecstatic with happiness, but this dream is not easy, and building a Bitcoin empire is different from building a Rome empire.

In the example of building the empire of Rome, people came together little by little to achieve one goal because they were in agreement. As for Bitcoin, there is no agreement yet. People want Bitcoin, but the controlling governments refuse it. If agreement and acceptance by everyone does not occur, then I think it will be difficult to build the Bitcoin empire.

[GeorgeJohn]

In this theory it is emphasizing on the adoption of Bitcoin and we know quite well that Bitcoin is massively adopted currently done to comparing the adoption of Bitcoin during the time Bitcoin is being launched in 2009 if you when it happened to be massively adopted it was when bitcoin begin to have fun in 2012 so what I'm saying in essence about I don't show up Bitcoin is taking place everyday by day because almost everyone in my country is interested for cryptocurrency investment because of the good news bitcoin has done to itself through investors who are beneficiaries of Bitcoin

[Saint-loup]

That’s a fascinating idea!  I'll definitely check out the video and consider how we can support the development of these circular Bitcoin economies.

Adoption will come naturally if the technology answers a large need within the population. If not, you can do any move you want it will never be massively adopted. That's why Bitcoin technology needs to evolve and to be adapted to the current people needs. Instead of wanting customers and merchants to use something they don't really need in the end.

[Casdinyard]

I recently watched this video on Youtube ==> https://youtu.be/wp2SonEgquQ?si=TyyraoFQ5pL9PZ2x and I realized that mass adoption of Bitcoin will only happen, if small circular economies, within the bigger economies are formed.

If you watched the video, you will see that it first started with 1 merchant and then more merchants and shops in the same town and then it spread to the neighboring towns.

Rome were not built in one day, but it started with one or two houses and it grew from there... and the same thing can be applied to Bitcoin adoption.

Let's build a Bitcoin empire!

A similar thing was started in the Philippines, particularly in its most famous beach if I'm not mistaken, during the height of the pandemic, possibly to prepare tourists and attract crypto bros into it later down the line. However, it flopped because while it was a good tourism move, it didn't take into account whether the people who lived in there since time immemorial would approve of the idea, stores become crypto friendly against their wills, bitcoin narrative is fed to the general public whilst little to no information campaign was put out leaving people literally in the dark about cryptocurrency and bitcoin besides the fact that it is money and is very valuable. It seriously diluted in a few month's time and while there are still stalls and stores who accept bitcoin, the entire concept of a Bitcoin Island in the Philippines is already a dead one and people don't even want anything to do with it lol.

Just letting you know that a bitcoin community is good, but it doesn't just happen in a snap of a finger, you need a massive cultural and intellectual upheaval if you want something like this to be realized my friend.

[Promocodeudo]

If shop owners in a community or a shopping complex begins to accept payments in Bitcoin, it will encourage buyers that are in the community to adopt Bitcoin and be making payments with it. Gradually the payment method will spread to nearby communities and more people will have Bitcoin awareness and adopt it until it will spread to an entire region and beyond. Although I don't think that spending and accepting Bitcoin can eliminate the use of fiat in any community, it will always be used as an alternative to fiat. I believe that the fastest way for Bitcoin to be adopted beyond community levels is if the public sectors in an economy begins to accept it as payments of utility bills, taxes and revenue collections. It will create more trust and fast adoption within citizens if their government is involved in the acceptance of Bitcoin.

It is good if shop owners in the community accepts Bitcoin as a mode of payment but the problem is sensitization of this shop owners, what if they don't know much about or nothing about Bitcoin,? Do we expect them to accept what they know nothing about, despite that Bitcoin is created for everyone and mainly for interested individuals, bitcoiners has work to do in terms sensitizing people on the need to accept Bitcoin as means of payment.
You have said it all, Bitcoin being used as a mode of payment can not totally cause fiat face off, no matter what, some people that believe in fiat must make use of it, as for the government involvement in Bitcoin before trust can be gained in the system as you said, this might be true but people should not wait for such because they government arent ready for total acceptance of Bitcoin and I believe that their reason for that is selfishness and misunderstanding, we are at the level of individual and institution adoption, so we should maintain that for now unless the government of various country decide on their own to approve total adoption, acceptance and make it legal tender, Bitcoin is already built on trust, so waiting for the government involvement in the acceptance will take ages, lets continue doing the liitle we can now until the apointed time if the government will take a new stand to that effect.

[SmartGold01]

This is already happening within the space if you can sense it correctly there are people who don't know about bitcoin but due to information that are spreading all over including TV and other social media channels people are learning massively to say but as you said there are other local communities like the grass roots should be well sanitizer and given proper orientation about bitcoin and the overall knowledge concerning wallet and how to maintain one asset to hold long.

[Lucius]

The dream of building a Bitcoin empire is a beautiful dream that makes Bitcoin lovers everywhere ecstatic with happiness, but this dream is not easy, and building a Bitcoin empire is different from building a Rome empire.

In the example of building the empire of Rome, people came together little by little to achieve one goal because they were in agreement. As for Bitcoin, there is no agreement yet. People want Bitcoin, but the controlling governments refuse it. If agreement and acceptance by everyone does not occur, then I think it will be difficult to build the Bitcoin empire.

In other words, in order for a new empire to rise, the old one should first be destroyed - but the problem is that the old empire was created literally for thousands of years and has solid foundations all over the world. In addition, Bitcoin is completely dependent (at this point) on the foundations of that empire, which are banks, various regulatory agencies, governments, and private companies through which most of the trading is done (CEXs).

Unfortunately, the elimination of one empire would also bring down the so-called Bitcoin empire, so we should focus more on BTC as an alternative in smaller areas than some kind of global solution.

[dezoel]

This isn't the first time someone wanted something like this, people always want stuff like this, but the reality is that we are not going to end up with anything like this. You can make a very small place that accepts bitcoin, but communities at bigger nations is harder. Don't get me wrong, go to El Salvador and you are going to end up with a great situation without a doubt, you are going to end up with something that will benefit you, and it is going to be a great deal for you, it's just the way it is.

However, we are talking about some stuff that would not be all that crazy to handle, and if we can manage to make it work, then we are going to end up with a much better result in the end, because this can't happen in big nations.

I think it can be possible if this work is done at the government level. If the government of a country wants to make Bitcoin famous and make it popular among the people, they can do it easily because of what is done at the government level, people believe in it and don't think much about investing in it but if in such countries where Bitcoin is not legal, no matter how big a businessman or investor tells us to buy Bitcoin or about it, the people of that country will never understand because of this fear.

People who invested in Bitcoin a few years ago and got profit, want everyone to know how profitable Bitcoin is and how much profit can be made in the future. Think about the people of the country, they want people to invest their money where they can get a good return and this is one of their virtues.
They think about others too.

[Kakmakr]

I recently watched this video on Youtube ==> https://youtu.be/wp2SonEgquQ?si=TyyraoFQ5pL9PZ2x and I realized that mass adoption of Bitcoin will only happen, if small circular economies, within the bigger economies are formed.

If you watched the video, you will see that it first started with 1 merchant and then more merchants and shops in the same town and then it spread to the neighboring towns.

Rome were not built in one day, but it started with one or two houses and it grew from there... and the same thing can be applied to Bitcoin adoption.

Let's build a Bitcoin empire!

I just watch the video and I feel like moving down there, looks so peaceful and very clean environment, I wish other small towns can endorse this same adoption but this can only work in a country where Bitcoin isn't seen as a threat. There are countries who doesn't like to hear the word Bitcoin, so trying to make these merchants thing go viral so others can adopt the same payment will only land them in more trouble.

My only small concern is how this merchant are able to work with the Bitcoin volatility. If there is a way they maximize profits without been worried about Bitcoin volatility for people that bought large items that cost more will be helpful because most of the merchants that aren't interested in Bitcoin payment isn't even the transaction fee, lightening network has solved that but the days of volatility is what I'm only bothered about, if there is a way about that, more merchants will love to accept Bitcoin.

Price "Volatility" only become a problem, if you convert bitcoin to Fiat currencies, but in a circulating economy like this, coins are not converted to Fiat.

Remember... X pay Y for a product and Y pay Z for a service and the bitcoins stay in circulation. Yes, some things can only be paid in Fiat currencies, but that is why they are running a dual payment option, with both Fiat currencies and Bitcoin being accepted as a payment option.

If you need "cash".. you still have the option to convert some of your bitcoins to Fiat currency.

[tygeade]

This is already happening within the space if you can sense it correctly there are people who don't know about bitcoin but due to information that are spreading all over including TV and other social media channels people are learning massively to say but as you said there are other local communities like the grass roots should be well sanitizer and given proper orientation about bitcoin and the overall knowledge concerning wallet and how to maintain one asset to hold long.

Here in the forum, I often saw posts mostly from Indian and Nigerian members where they share their BTC knowledge to the people nearby, so small communities are definitely possible, especially the online one but towns?

I think this mostly happens for now in a country where BTC have been made as a legal tender, since it is a bit tricky and needs some serious legalizations or permits from the local governments which we know that are less likely to be approved because many of them are still allergic with BTC or doesn't know anything about it. Also BTC can rarely be seen on the TV's but not in the social medias. Many people can still learn BTC through it.

[Cookdata]

Price "Volatility" only become a problem, if you convert bitcoin to Fiat currencies, but in a circulating economy like this, coins are not converted to Fiat.

Remember... X pay Y for a product and Y pay Z for a service and the bitcoins stay in circulation. Yes, some things can only be paid in Fiat currencies, but that is why they are running a dual payment option, with both Fiat currencies and Bitcoin being accepted as a payment option.

If you need "cash".. you still have the option to convert some of your bitcoins to Fiat currency.

Price of goods and services are not measured in Satoshi but measure in usd and other legally recognized legal tenders in other countries. The problem with accepting Bitcoin as payment option is not the problem but it becomes a problem the moment you want to keep it as a store of value. Let's say for instance, you sold some items last week when Bitcoin was trading above $60k and you haven't restock and today it's trading around $57.5k and you want to restock your shop, you will be shortage in the real value of what you have sold and that's the main problem I mean by volatility.

However, if the shop owner isn't Bitcoin dependent, like he has another fund to buy more items in his shop, he is going to benefit in the future but his business will be moving X and Y direction like he is not making any profits. Cash flow isn't the kind of business someone has to do with Bitcoin but fixed asset are will go well like selling lands, vehicles and so on.

[SmartGold01]

This is already happening within the space if you can sense it correctly there are people who don't know about bitcoin but due to information that are spreading all over including TV and other social media channels people are learning massively to say but as you said there are other local communities like the grass roots should be well sanitizer and given proper orientation about bitcoin and the overall knowledge concerning wallet and how to maintain one asset to hold long.

Here in the forum, I often saw posts mostly from Indian and Nigerian members where they share their BTC knowledge to the people nearby, so small communities are definitely possible, especially the online one but towns?

I think this mostly happens for now in a country where BTC have been made as a legal tender, since it is a bit tricky and needs some serious legalizations or permits from the local governments which we know that are less likely to be approved because many of them are still allergic with BTC or doesn't know anything about it. Also BTC can rarely be seen on the TV's but not in the social medias. Many people can still learn BTC through it.

No one has touched bitcoin physically neither has anyone touched it through social media, what happened is that we can only view it from address we know such unit represent a particular amount of Bitcoin in equivalent to dollars but can't feel rather can been view through the wallet its. The say way we hear people talks about bitcoin on social media is same way we see people talks about bitcoin on TV. I could vividly remember that there's a channel in our local TV that regularly gives update about bitcoin price including the stock market, they shows up the prices of commodities/assets.

[Ever-young]

There had been something like this in my country where they say we can pay anything in BTC in the city. A lot or so they say are accepting BTC but when the bear market came only a few stores left accepting BTC. When the bull market started again, they gradually come back to accept BTC. Seasons come and go I guess.

If they are to adopt bitcoin usage, they should do it and don't make it seasonal. Most of them who are accepting payments on Bitcoin don’t even save it for a long time, so why should the bull and bearish markets affect their methods of payment?

The only thing that I see that is supposed to serve as a barrier is the network fee. If the network is congested and the fee is way too high, then they can consider pending the payment method as the fee won’t be conducive for both parties.

[AmoreJaz]

There had been something like this in my country where they say we can pay anything in BTC in the city. A lot or so they say are accepting BTC but when the bear market came only a few stores left accepting BTC. When the bull market started again, they gradually come back to accept BTC. Seasons come and go I guess.

If they are to adopt bitcoin usage, they should do it and don't make it seasonal. Most of them who are accepting payments on Bitcoin don’t even save it for a long time, so why should the bull and bearish markets affect their methods of payment?

The only thing that I see that is supposed to serve as a barrier is the network fee. If the network is congested and the fee is way too high, then they can consider pending the payment method as the fee won’t be conducive for both parties.

You can't blame some of these business owners because some only have small capital for their business to continuously operate. Hence, whatever they are receiving in crypto payments, they will also convert it to their fiat. Though it should not affect the corresponding amount in fiat even during bearish season, but these owners may have other plans for their money.

Also, I can agree that that barrier should only be the network fees. But I guess, business owners have other takes on this market.