Under that scenario, the Bitcoiners market segment is easier to sell to by accepting bitcoins than by accepting dollars.
This means, there is an advantage for a merchant to accept bitcoins, when they're selling to that market segment.
Post by twetch#622
So, to achieve the goal that @4179 is looking to achieve of merchant adoption, a (not the only,) good strategy is to make the Bitcoin economy so strong that outside actors are incentivized to join that economy.
What the chain says
- Block
- 635 507
- Time
- 2020-05-18T22:20:18Z
- Signer
- 1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#622
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C VerifiedReplies (4)
IMO, early on this could have been majorly shortcutted because the expectations regarding what Bitcoin is, what it could become, etc. were enough to create a snowballing effect where people joined in just because they had high expectations for the future.
But thanks to BTC/Core (cue maniacal laughter,) this has been completely undermined, and now we are forced to take the path of building first for fellow Bitcoiners, and second for outsiders who can benefit from our particular competitive advantages.
Over time, if we do this well, I believe we will achieve significant economic strength, sufficient draw for new users of our services (value coming into our economy,) and incentives for businesses to court us for our patronage.
I hope I've captured the ideas well here, or at least said some things that ring true with you guys...