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Author Topic: what's next for Bitcoin?  (Read 2899 times)
finkleshnorts
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July 21, 2012, 06:03:31 AM
 #21

Volatility is also a very hard pill for newcomers to swallow, even when taking into account paysius and bitpay. That will even out in time through growth and adoption, though, when it becomes more difficult to single-handedly manipulate the price.
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NRF
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July 21, 2012, 09:26:44 AM
 #22

Could you provide realistic examples - niche markets/applications that come to mind? Do you think that gambling, gaming, and adult industries do not provide a reliable stepping stone or even a testing ground? Or do you think that Bitcoin simply needs a PR effort to diminish negative perception by business people (Ponzi schemes and such)? It's hard for me to believe that a serious businessman would be turned off by how some people misuse a technology, instead of focusing on how he can use it.

All good questions, and it is ones that I have been pondering myself.

To start I would like to comment that you don't need to look for niche markets as of yet, all bitcoin seems to have is niche markets.  In fact the niche’s are getting so full that I wrote them off a while ago as a potential area of development that I would be interested in. 

For the volume of trade we seem to have enough Exchanges, Lotteries, Instant Payout, Term Investment (“Ponzi”) & Porn sites.  (Sorry if I missed your favorite bitcoin activity)

What I see a great lack of is the more mundane stuff, good and services that I use every day.  Just opening my eyes and looking at my desk I see a few things, my mouse, my iPod and a bottle of coke, you probably see similar things.

These markets are not niche markets, they are day to day markets that we use constantly and they are wide open.  Next time I need a new mouse I will go online to some store like newegg and in the next few days I will have one, same goes for a new MP3 (or whatever your format of choice is) except it will be instant.  We need to make it so that it would be just as easy to do these things with bitcoins as it is with your credit card.

Bitcoins will have truly turned a corner when I go to the vending machine and perform some sort of key exchange (by some method unknown to me at the moment) and boom, I have a bottle of coke.

I think those are the type of opportunities we should be looking at, bugger the “new fandangle” type approach for now, let’s just stick with things that we know work because we use them every day.

As for an example, I think the first guy that has the balls to write a simple script on a simple website that allows me to buy an iTunes Gift Card with my bitcoins would have my business.  That person would have to have the balls (and $ and BTC) to put themselves and their company out there in a transparent manner though, get Cyber Insurance, put their address on their website and stand behind their service and not act like the proverbial Snake Oil Merchant, in short, do it in a professional manor (and pay my a 1% of net royalty fee Tongue ).

Once again, just my opinion though.
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July 21, 2012, 09:56:04 AM
 #23

As for an example, I think the first guy that has the balls to write a simple script on a simple website that allows me to buy an iTunes Gift Card with my bitcoins would have my business.
Like this?
https://www.spendbitcoins.com/convert/apple-physical-gift-card/
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July 21, 2012, 10:08:06 AM
 #24

As for an example, I think the first guy that has the balls to write a simple script on a simple website that allows me to buy an iTunes Gift Card with my bitcoins would have my business.
Like this?
https://www.spendbitcoins.com/convert/apple-physical-gift-card/

Somewhat that, now go off a do a whois query for that domain, check their SSL cetificate, hell even check their website and tell me who those guys are and where they are located.
aq
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July 21, 2012, 10:11:04 AM
 #25

As for an example, I think the first guy that has the balls to write a simple script on a simple website that allows me to buy an iTunes Gift Card with my bitcoins would have my business.
Like this?
https://www.spendbitcoins.com/convert/apple-physical-gift-card/

Somewhat that, now go off a do a whois query for that domain, check their SSL cetificate, hell even check their website and tell me who those guys are and where they are located.
https://www.spendbitcoins.com/support/
First question from the FAQ:
Quote
Who are you?
My name is Jeremy West. I’ve been operating Spend Bitcoins since May 2011. I’m at bitcointalk.org as Jeremy West spendbitcoins.com. I have built a very good reputation on the forums, and you can see a long thread about Spend Bitcoins here. I also have the most positive feedback of anyone (by far) at http://bitcoinfeedback.com and have built up a good reputation on eBay over many years which you can see here.
You are as lazy as it gets...
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July 21, 2012, 10:16:59 AM
 #26

https://www.spendbitcoins.com/support/
First question from the FAQ:
Quote
Who are you?
My name is Jeremy West. I’ve been operating Spend Bitcoins since May 2011. I’m at bitcointalk.org as Jeremy West spendbitcoins.com. I have built a very good reputation on the forums, and you can see a long thread about Spend Bitcoins here. I also have the most positive feedback of anyone (by far) at http://bitcoinfeedback.com and have built up a good reputation on eBay over many years which you can see here.
You are as lazy as it gets...


Yep, my name is Peter Parker you believe that too?

I am not saying that the guy is not Jeremy West, and I am in no way trying to infer that he is not (Sorry Jeremy if you read this), but hell, he could have said he is Batman.
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July 21, 2012, 10:29:03 AM
 #27

https://www.spendbitcoins.com/support/
First question from the FAQ:
Quote
Who are you?
My name is Jeremy West. I’ve been operating Spend Bitcoins since May 2011. I’m at bitcointalk.org as Jeremy West spendbitcoins.com. I have built a very good reputation on the forums, and you can see a long thread about Spend Bitcoins here. I also have the most positive feedback of anyone (by far) at http://bitcoinfeedback.com and have built up a good reputation on eBay over many years which you can see here.
You are as lazy as it gets...


Yep, my name is Peter Parker you believe that too?

I am not saying that the guy is not Jeremy West, and I am in no way trying to infer that he is not (Sorry Jeremy if you read this), but hell, he could have said he is Batman.
And I gave you the benefit of doubt, and thought you where just too lazy to use search/google/whois.
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July 21, 2012, 10:44:42 AM
 #28


And I gave you the benefit of doubt, and thought you where just too lazy to use search/google/whois.


Thanks :p , and I am getting off point, the point was we need more places like Jeremy's that offer goods & services that we need with names and phone numbers and less like http://save-trust.com/ (for example).

Without picking on them too much directly but wow, give us your bitcoins and we will give you more back, but we will make sure you don't know who we are.  There is just too many of them.
Ichthyo
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July 21, 2012, 12:39:07 PM
 #29

As for an example, I think the first guy that has the balls to write a simple script on a simple website that allows me to buy an iTunes Gift Card with my bitcoins would have my business.
Like this?
https://www.spendbitcoins.com/convert/apple-physical-gift-card/

Somewhat that, now go off a do a whois query for that domain, check their SSL cetificate, hell even check their website and tell me who those guys are and where they are located.

That would be old-style buisness. This whole "trustworthy business people" approach inevitebly leads to more and more centralised entities, more regulation and more red tape. And it favours the larger companies, which can spend money on public relations.

I don't think this should be the main route to go.
Rather, we need more escrowy-type services.
Services, I can use without needing to rely on the "repuation", at least to a lesser degree.

After solving the scalability problems, the focus should be on business processes, which can be directly interwoven or attached to the blockchain, and thus be enforced sort-of mechanically, not by authority or reputation. This is where the potential of Bitcoin lies.
cypherdoc
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July 21, 2012, 03:02:45 PM
 #30

Make it easier so Gavin's grandma can use it.

Make it better so Gavin invests everything he has in it.
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July 21, 2012, 03:29:18 PM
 #31

What bitcoin needs is fiat money collapse.

Not to say people should stop working on clients, products, usability, adoption,... we will desperately need those things soon enough. Today, however, saving 2.x% on payment processing isn't gonna justify cumbersome installing, getting acquainted with and putting up with price volatility and risk of bitcoin for most people/businesses.

Do you think a paypal competitor that offered really low rates (say 0.1%) would stand a chance against the establishment? I doubt it.

Do you think a gold-hard highly divisible and transferrable free market commodity money stands a chance against the constantly devaluing colored pieces of paper issued by a group of arrogant assholes and their paranoid minions? Well, absolutely!

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
cbeast
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Let's talk governance, lipstick, and pigs.


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July 21, 2012, 03:30:53 PM
 #32

Pizzas are such a natural fit for Bitcoin, I just find it incredibly bearish that I still can't use bitcoins to buy anything from Dominos or Hell or any other pizza place I've already heard of.
When pizza delivery places accept a bitcoin escrow that covers expenses and then instant payment on prompt delivery, they will have something to base a new model of business on.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
minorman
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July 21, 2012, 04:52:29 PM
 #33

The protocol seems solid, no bugs, and more features are under development.

The network has been functional for several years, no outages whatsoever.

Many exchanges up and running.

Several good-looking merchant solutions exist, all fully functional.

Several mobile clients are available, along with online wallets and full local clients.

What is the next big hurdle? Advocacy and other work to address some of the legal uncertainties? Simply spreading the word? Teaching by example?

When promoting Bitcoin to friends I consistently find problems regarding (lack of) good, secure noob software. Let's face it: A huge number of people are Apple fanboys. More than 50% of my friends have iphones and ipads and I have nothing to recommend them (ah - the good times before blockchain.info was pulled by Apple).

And what about desktop clients? A friend of mine wanted me to point him to a good, lightweight (forget Amory), local key storage (kinda rules out blockchain.info) wallet which supports wallet encryption (forget multibit).
Electrum I hear you say? Well, but installing that is not as easy as downloading an exe making the barrier for entry higher.

---
The software isn't quite there yet. (Multibit - please support wallet encryption soon).

---

That aside, I hope that the next niche market for Bitcoin will be tipping.
Every blog (also non-bitcoin blogs) should have a bitcoin address and QR, so that readers can donate, if they like what they read. Not a try-before-you-buy. More like a tip. Pay the blogger 0.1 BTC if you were entertained/educated/thrilled/surpised/whatever.


Every youtube video should also have a QR appended in the first or final part of the video. Give a small tip, if you like the Video!

Non bitcoin blogs and vidoes would expose bitcoins to a gigantic crowd of people in a non-pushy way. Some of them will think "What is this bitcoin-thing anyway" and before you know it, they start posting here!

-
Please send your favorite bloggers a PM suggesting that they put a bitcoin donation jar up there on their site. Help them set it up!
I do this all the time.

“Banking doesn’t involve fraud, banking IS fraud.”
- Tim Madden
jim618
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July 21, 2012, 05:06:52 PM
 #34

Re: MultiBit encryption - it is coming.
I have been working on it solidly for the last couple of weeks - there is probably the same again to get it to a release candidate. I want to get it out just as much as anybody.

MultiBit HD   Lightweight desktop client.                    Bitcoin Solutions Ltd   Bespoke software. Consultancy.
minorman
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July 21, 2012, 05:16:07 PM
 #35

Re: MultiBit encryption - it is coming.
I have been working on it solidly for the last couple of weeks - there is probably the same again to get it to a release candidate. I want to get it out just as much as anybody.

Fantastic Jim!
Bitcoin in a nutshell - with such a group of skilled and dedicated people "backing" it - how can you not be optimistic about bitcoin's future? Cheesy

“Banking doesn’t involve fraud, banking IS fraud.”
- Tim Madden
defxor
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July 21, 2012, 05:54:14 PM
 #36

That aside, I hope that the next niche market for Bitcoin will be tipping.
Every blog (also non-bitcoin blogs) should have a bitcoin address and QR, so that readers can donate, if they like what they read. Not a try-before-you-buy. More like a tip. Pay the blogger 0.1 BTC if you were entertained/educated/thrilled/surpised/whatever.


Every youtube video should also have a QR appended in the first or final part of the video. Give a small tip, if you like the Video!

Non bitcoin blogs and vidoes would expose bitcoins to a gigantic crowd of people in a non-pushy way. Some of them will think "What is this bitcoin-thing anyway" and before you know it, they start posting here!

-
Please send your favorite bloggers a PM suggesting that they put a bitcoin donation jar up there on their site. Help them set it up!
I do this all the time.

I'd suggest a Bitcoin<->Flattr bridge. As far as I know, the Flattr API allows for this and "all" that's needed is an implementation.

This is what one of the Flattr employees said last year:

Quote
We need one that accept bitcoins, and gives us Euros. Then we can add it as a funding option. Can't find any.

http://forum.flattr.net/showthread.php?tid=550&page=4

Which is a solved problem this year.

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July 21, 2012, 09:49:44 PM
 #37

The most important milestones we need to achieve:

1. Clarification of the legal status of Bitcoin.
2. Version 1.0 of the official Bitcoin client.
3. Killer app for Bitcoin.

good list.  I will say there are a handful of people who keep telling me "come back when the legal status has been clarified"

The rest just think it's a fad, or don't see the benefits yet.

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