Unpopular Opinion: Giving Bitcoin Away Doesn't Help Adoption.
Unpopular Opinion: Giving Bitcoin Away Doesn't Help Adoption.Giving the solution before people discover the problem is even counterproductive.Bitcoin's adoption is proceeding at its own pace. An estimated 100 million users in 2020, and then just over 130 million by the end of 2021. Some will find this pretty incredible, while others will find that things aren't moving fast enough. With a monetary revolution as incredible as Bitcoin, expectations are always higher. This makes perfect sense. To accelerate adoption, some are thinking about different strategies. Over the years, I've often seen people advocate giving Bitcoin (in small amounts) to people to get them excited about Bitcoin. I may surprise you with my opinion on the subject, which is probably unpopular, but I find that this strategy does not work, and may even be counterproductive in the vast majority of cases. Bitcoin addresses a big problem. That central problem is the ability of central banks to print as much fiat money out of thin air as they deem necessary. This problem is at the root of all the ills of the current monetary and financial system which is flawed, and not fixable. Satoshi Nakamoto invented Bitcoin to offer everyone on Earth an alternative to this system. A leaderless alternative that belongs to all its users. A magnificent gift to humanity, in short, an unselfish one. Bitcoin is the solution. By giving someone Bitcoin, you are giving them the solution to a problem they are not aware of. Do you think they will then seek to learn more about Bitcoin when they don't even see what the solution is for? The answer is no in more than 95% of the cases. Some curious people may go further out of thirst for knowledge, but the majority will stop there. They will leave their Bitcoin behind, or sell it for fiat money. So it's counterproductive. To give you an example, it's a bit like giving a cell phone to a person who lives in the deepest part of the Amazon and has never been confronted with the modern world. That person will look at it very quickly, and then leave the cell phone behind. On the other hand, if you give that person's wife a cell phone and then show her how he can call her while he's anywhere else in the world, then chances are that person will then use that cell phone. Why? Simply because the person will have understood the problem that the cell phone addresses. The solution will seem useful to them because it addresses a problem they perceive as real. With Bitcoin, it's the same thing. Before you give someone Bitcoin, you have to help them understand the flaws in the current system. Once that person understands the flaws in the current system, he or she will begin to question how best to respond to them. That's where Bitcoin comes in, and that person will be better able to appreciate why Bitcoin exists. Once the problem is understood, the Bitcoin solution will seem incredible. The adoption of Bitcoin is strongest when it is born out of the person's own volition. If the person buys Bitcoin after understanding its why, then you can be sure that he or she will continue to learn more, and has a great chance of becoming a true Bitcoiner one day. The next time you are looking to help someone realize the potential of Bitcoin, the best thing to do is to help them discover the problem that Bitcoin addresses. Then you'll see that things will happen naturally. There's no need to send Bitcoin and hope that it will encourage adoption. My experience has shown me that this is never the case in over 95% of the cases. So, remember this: Gifted Bitcoin is lost Bitcoin. You tell me what you think. In Bitcoin We TrustComment & Earn!Share your thoughts and opinions on the topics covered within this blog in the comments below for your chance to win yourself an NFT. Click here for more information on our engagement rewards. If you liked this post from Cryptowriter, why not share it? |
Older messages
Where Is Bitcoin Legal (And illegal?)
Thursday, March 10, 2022
And which way are we trending?
Round 32 Cryptowriter NFT Engagement Winners!
Tuesday, March 8, 2022
Top 10 Most Engaged Users Our analytics consider the total amount of likes, comments, and shares to determine the top 10 most engaged users across our entire publication. Most engaged winners receive 1
With Bitcoin, Embrace Uncertainty
Tuesday, March 8, 2022
At least you'll know what to expect
On the Ups and Downs of Bitcoin Price
Monday, March 7, 2022
Don't let them change your long-term vision.
EOSweekly: API+ Paper, Fractally, Pomelo Season 2, ENF
Sunday, March 6, 2022
TOP HEADLINES API+ Blue Paper The API+ Blue Paper (available for download on the ENF blog) is integral to solving persistent mainnet problems. One of the need areas that B1 never got around to is that
You Might Also Like
The tlBANK Snapshot Space is Live - Here's What You Need to Know | BanklessDAO Weekly Rollup
Saturday, May 18, 2024
Catch Up With What Happened This Week in BanklessDAO ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Weekly Project Updates: LayerZero begins second phase of sybil hunt, zkSync hints at token issuance, Eclipse found…
Saturday, May 18, 2024
1. Ethereum Foundation team debates MEV and liquid staking link Peter Szilagyi, head of the Ethereum Foundation team, and Dankrad Feist, creator of Danksharding and Ethereum Foundation researcher,
Price history: BONK vs WIF vs DOGE
Friday, May 17, 2024
Track and compare top memecoins of 2024. How do their trajectories differ, and what can you tell about future growth? Check this dashboard Flipside Crypto Memecoins are re-emerging with strength this
New leader in Public Goods technology: Dora Factory's million-dollar gambit
Friday, May 17, 2024
Author: Chris Lee A major event in the Cosmos ecosystem is the recent passing of Governance Proposal №917: a request by Dora Factory and DoraHacks for a $1 million grant fund from the Cosmos Hub
Bitcoin rallies to $65k, triggering over $120 million in liquidations in 24 hours
Friday, May 17, 2024
US dollar weakness and stable CPI data fuel Bitcoin's rapid climb. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Reminder: Spot BTC ETF Holdings Disclosed By JPMorgan And Wells Fargo
Friday, May 17, 2024
We bring you the top stories in crypto every week! Stories like... Monday May 13, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR Spot BTC ETF Holdings Disclosed By JPMorgan And Wells Fargo
The whole process: How to Lose 1155 BTC in 80 Minutes
Friday, May 17, 2024
Author: 胡飞瞳 Source: https://mp.weixin.qq.com/s/jCtgFy5e5o3TxmHTOk_rLQ On the evening of May 3rd, Beijing time, due to an inadvertent operation, a whale mistakenly transferred 1155 BTC to a phishing
Grayscale GBTC registers rare inflow amid $303 million Bitcoin ETF surge
Friday, May 17, 2024
The influx of 4600 BTC into the ETF exceeds ten times the daily mining reward. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
ZK-EVM Upgrade Narrative to zkVM: Why Are These Five Core Projects Worth Attention?
Friday, May 17, 2024
By 0XNATALIE, Researcher at @ChainFeedsxyz Source: In the search for solutions to blockchain scalability and computational efficiency, zero-knowledge proof (ZKP) technology is particularly significant.
NFT & Blockchain Gaming Weekly - 🚀Loaded Lions: Mane City Season 2 Live
Friday, May 17, 2024
Loaded Lions Mane City Season 2 launches with Factions & Abilities. CryptoPunks introduces the new 'Super Punk World' collection. Fantasy.top adds new heroes and tweaks the game mechanics.