In my opinion, @24's point about Bitcoiners building for Bitcoiners stands very strong because this is how Bitcoiners create bitcoin income streams...
When they have income in bitcoin, their marginal valuation of each bitcoin goes down...
Post by twetch#622
This means that they're more willing to spend it.
Bitcoiners then become a market that is more willing to spend bitcoins than dollars, which means any business seeking their patronage has to choose between selling for dollars, or selling for bitcoins...
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 VerifiedReposted by (1)
Replies (6)
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.
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.
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.