Come discuss the Bit Drop, the plan to give every person on Caribbean Island BTC

[BanksWorstFear]

For any poor people or newbies I'm giving away $0.25 in bits (bitcoin) to engage in the bitdrop subreddit:

https://bitcointalk.org/index.php?topic=765470.0

New subreddit to organize news posts and discussion about this:

http://www.reddit.com/r/bitdrop

[BitCoinNutJob]

Its a cool idea, why are we picking this island in particular?

[reg]

Its a cool idea, why are we picking this island in particular?

I think it is a bad idea. "you can lead a horse to water but not make it drink". a few may pick up on btc and follow through but my experience in life is that people excel or are interested when it comes from within and not imposed from outside. there are sufficient faucets already for btc. how many on that island are using those?

[BitCoinNutJob]

Its a cool idea, why are we picking this island in particular?

I think it is a bad idea. "you can lead a horse to water but not make it drink". a few may pick up on btc and follow through but my experience in life is that people excel or are interested when it comes from within and not imposed from outside. there are sufficient faucets already for btc. how many on that island are using those?

Good point but i think what would be handy is if some kind of survey could be conducted of how many people "get into bitcoin" after receiving a paper wallet voucher for a small amount.

I remember i got into bitcoin because someone i wanted to impress asked me if i knew anything about it - this made me get off my arse and finally read about what bitcoin was despite hearing about it for a couple years (doh).  You could argue me getting into bitcoin didnt come from within.  I did however recognize within 5 mins of reading this was something special.

[fryarminer]

I always wanted to move to the Caribbean!

[Plank]

New subreddit to organize news posts and discussion about this:

http://www.reddit.com/r/bitdrop

Actually how many coins are in circulation in total while distributing the whole population.I doubt everyone of them would adopt the technology.How many or what portion of coins are being distributed to each of them?

[minerpumpkin]

This really is an interesting project! Could you summarize the most important facts in this thread maybe? It would also be interesting to have some kind of bet going how many people are going to accept their BTC and actually use them! I expect that Bitcoin is still too cumbersome for day to day use, though...

[minerpumpkin]

Cool idea but not so sure if it is capable of working for the simple fact that when it comes to btc, you are either for it, against it, or neutral.

Well there are quite some people (esp. politicians!!!) who have made a 180 degrees turn in regards to Bitcoin. They just didn't really know about it and were against it. But as soon as they discovered what Bitcoin really is and learned more about it, they changed their mind and are now actively rooting for it!

[cyberpinoy]

For as many intelligent developers and wealthy people we have in the  cryptocurrency industry I am amazed daily at how utterly stupid they are at the same time. This continued persistence of devaluing bitcoins has got to stop. Industries like Dell, Expedia, Amazon or any other retailers and manufacturers are not helping bitcoin in any way, dumping coins on an area is not going to raise the value of the coins at all, you want to raise awareness do so without devaluing bitcoins, Ask yourself what would happen if you gave a 13 year old a wallet with 5 bitcoins. his awareness is now raised for the 10 minutes its going to take him to trade them bitches in for FIAT so he can get something he wants. Whenever new technology is dropped on people they have the mind of a 13 year old, and they will do the same thing.

If you want to secure our future in cryptocurrency and at the same time eliminate all these new pump and dump coins, we as a community MUST start looking for ways to increase its demand. Because right now the only demand it has is to find ways tog get some so they can dump them for Fiat. Retailers who accept bitcoin dumps their coins every month and when they make a dump the price goes down. The more they dump the lower it goes. Why do you think the price is stuck right now, because we have a lot of people accepting them, and everyone of them are dumping them as fast as they are bringing them in. These places are not interested in holding them, securing them, is all about FIAT to them and nothing more.

[BanksWorstFear]

Its a cool idea, why are we picking this island in particular?

Ask the question in the reddit; I'll get an organizer to answer you or someone else can pull from the media thats out there.

This continued persistence of devaluing bitcoins has got to stop. Industries like Dell, Expedia, Amazon or any other retailers and manufacturers are not helping bitcoin in any way, dumping coins on an area is not going to raise the value of the coins at all, you want to raise awareness do so without devaluing bitcoins

Merchant adoption is not devaluing bitcoin.

Reddit: http://Reddit.com/r/bitdrop

[minerpumpkin]

I also like to add that this really is en par with the experimental nature of Bitcoin. Not just try and simulate stuff and theorize, but rather implement it and try it out in the wild. We'll learn what works and what isn't. It's a good thing to try this out on a "small" scale first. Proving ground, really :d

[TippingPoint]

Which plan would benefit the acceptance of Bitcoin more?

• Give every person on a Caribbean Island some Bitcoins
• Use the same amount of Bitcoins and announce that it will be randomly given to one new Bitcoin wallet address on the blockchain that contains a minimum balance (anywhere in the world) during a specified one year period.

The first option is primarily a spectator sport.  The second option encourages and rewards downloads of Bitcoin wallets, and funding them.

[fryarminer]

Which plan would benefit the acceptance of Bitcoin more?

• Give every person on a Caribbean Island some Bitcoins
• Use the same amount of Bitcoins and announce that it will be randomly given to one new Bitcoin wallet address on the blockchain that contains a minimum balance (anywhere in the world) during a specified one year period.

The first option is primarily a spectator sport.  The second option encourages and rewards downloads of Bitcoin wallets, and funding them.

This is pretty smart. Make publicity that 10 times during the next year, 5 BTC will be awarded to random wallets that have a minimum balance of 5 BTC. Then announce as each person is awarded.

If you do just one, it won't catch on as much. People will think that they wouldn't get a chance. And if you announce the first winners then people will get more excited.

This will do a lot more good than a drop. But a drop is good if what you're going for is mass adoption.

If that is the case, then you want to provide them with ample opportunity to use the BTC, and easy ways to get more BTC. For example some stores where only BTC is accepted, and where BTC can be obtained through a kiosk or something.

[pandalion98]

I also like to add that this really is en par with the experimental nature of Bitcoin. Not just try and simulate stuff and theorize, but rather implement it and try it out in the wild. We'll learn what works and what isn't. It's a good thing to try this out on a "small" scale first. Proving ground, really :d

Yeah, and I think the Carribean is a good spot for that. It's not too small, yet not large either.

I want to see the outcome of this.

[JetLi]

I'd love to go there. 

[QuestionAuthority]

I have a friend that's planning a vacation there sometime next March. He is planning to stand on the street with a sign offering to buy the coins immediately for cash. He is going to offer 50% of the current value for the coins and give cash immediately to anyone that transfers them to his wallet. He's already set up two exchange accounts to deal with the coin. This fund is going to "drop" a lot of cash in my friends pocket. I wonder how much of it he'll be able to capture? lol

[pandalion98]

I have a friend that's planning a vacation there sometime next March. He is planning to stand on the street with a sign offering to buy the coins immediately for cash. He is going to offer 50% of the current value for the coins and give cash immediately to anyone that transfers them to his wallet. He's already set up two exchange accounts to deal with the coin. This fund is going to "drop" a lot of cash in my friends pocket. I wonder how much of it he'll be able to capture? lol

50%. wow.

[minerpumpkin]

I have a friend that's planning a vacation there sometime next March. He is planning to stand on the street with a sign offering to buy the coins immediately for cash. He is going to offer 50% of the current value for the coins and give cash immediately to anyone that transfers them to his wallet. He's already set up two exchange accounts to deal with the coin. This fund is going to "drop" a lot of cash in my friends pocket. I wonder how much of it he'll be able to capture? lol

Wow, how greedy! And 50% is quite a rip-off. But it shows how you can make money if the loops you have to jump through in order to create a wallet are still that high... How much BTC do you think he's going to make, or how much $ USD?

[Connor936]

I have a friend that's planning a vacation there sometime next March. He is planning to stand on the street with a sign offering to buy the coins immediately for cash. He is going to offer 50% of the current value for the coins and give cash immediately to anyone that transfers them to his wallet. He's already set up two exchange accounts to deal with the coin. This fund is going to "drop" a lot of cash in my friends pocket. I wonder how much of it he'll be able to capture? lol

Probably a lot. In the past, people who received coins via air drops have more or less sold them as quickly as they can. Your friend could likely offer less then 50% as many people would likely not go through the hassle of setting up an account on an exchange just for $10

[EndlessStory]

Bitcoin again dropping fast now...reached to 475$ in a week...

What's going on?