thomas_fahrer on Nostr: Currency debasement is a silent thief. It quietly erodes the value of people's labor, ...
Currency debasement is a silent thief. It quietly erodes the value of people's labor, degrading the purchasing power of the average individual. Yet, this process is so subtle that most people don't immediately notice its impact.
Many people understand that something is amiss, but they often overlook a potential solution: Bitcoin. Some see it only as a speculative, high-risk asset, while in reality, it holds far more value as a decentralized and deflationary form of currency.
Monetization of any new medium of exchange isn't an overnight event. Look at gold, which took thousands of years to be globally accepted as a reliable store of value. Patience is important, even if the process feels painfully slow, especially to those who understand how important this is to the world.
Bitcoin, with its predictable, finite supply, and the ability to be held and controlled without the need for intermediaries, fixes so many of the problems we’ve seen with gold - and the deleterious effects of a growing money supply. As people grow more dissatisfied with the effects of their ever weakening money, the shift towards a decentralized, deflationary currency system will become more and more appealing. I firmly believe this.
The real challenge now is acceleration. We need to speed up the collective understanding and acceptance of Bitcoin. But how do we accomplish this?
The answer, I believe, lies in placing Bitcoin into as many hands as possible, and doing so quickly. Comprehending Bitcoin's significance is crucial, but spurring action necessitates motivation. There's no better incentive to study Bitcoin than owning a piece of the network.
So, how can we expand Bitcoin's ownership?
Here's where Bitcoin's Lightning Network, its second layer solution, plays a pivotal role. Imagine turning every single online interaction into an opportunity to earn Bitcoin, no matter how small the action might be.
For instance, consider a popular streaming service. Normally, users pay a monthly subscription to access the content, and their interaction ends there. But what if we flipped the script? What if, for every review a user writes for a series or movie they've watched, they receive a small amount of Bitcoin in return? It’s not just rewarding consumer engagement, it's turning it into a fun, gamified experience.
The same could apply to countless other online activities: signing up for newsletters, participating in online polls, or even engaging with social media posts. These are activities that millions of people do every day, often for free. But the Lightning Network makes it possible to reward these interactions with Bitcoin micro-transactions, effectively distributing Bitcoin into more hands, bit by bit (satoshi by satoshi).
The result? A win-win-win situation. Businesses gain from increased user engagement, users are rewarded for their time and effort, and the Bitcoin network benefits from broader adoption. This not only makes everyday online tasks more exciting, but it also paves the way for a new era of internet economics, where users can gain real financial value from their digital footprint
After all, online data is valuable, so why shouldn't the individuals creating it reap some of the benefits? By compensating user engagement with Bitcoin, businesses can set in motion a virtuous cycle of adoption then education.
I am consumed by the idea that simple practical use cases can nudge humanity towards #Bitcoin. This is the mission that I'm focused upon. This is what I believe will ultimately catalyze the widespread adoption of Bitcoin.
Many people understand that something is amiss, but they often overlook a potential solution: Bitcoin. Some see it only as a speculative, high-risk asset, while in reality, it holds far more value as a decentralized and deflationary form of currency.
Monetization of any new medium of exchange isn't an overnight event. Look at gold, which took thousands of years to be globally accepted as a reliable store of value. Patience is important, even if the process feels painfully slow, especially to those who understand how important this is to the world.
Bitcoin, with its predictable, finite supply, and the ability to be held and controlled without the need for intermediaries, fixes so many of the problems we’ve seen with gold - and the deleterious effects of a growing money supply. As people grow more dissatisfied with the effects of their ever weakening money, the shift towards a decentralized, deflationary currency system will become more and more appealing. I firmly believe this.
The real challenge now is acceleration. We need to speed up the collective understanding and acceptance of Bitcoin. But how do we accomplish this?
The answer, I believe, lies in placing Bitcoin into as many hands as possible, and doing so quickly. Comprehending Bitcoin's significance is crucial, but spurring action necessitates motivation. There's no better incentive to study Bitcoin than owning a piece of the network.
So, how can we expand Bitcoin's ownership?
Here's where Bitcoin's Lightning Network, its second layer solution, plays a pivotal role. Imagine turning every single online interaction into an opportunity to earn Bitcoin, no matter how small the action might be.
For instance, consider a popular streaming service. Normally, users pay a monthly subscription to access the content, and their interaction ends there. But what if we flipped the script? What if, for every review a user writes for a series or movie they've watched, they receive a small amount of Bitcoin in return? It’s not just rewarding consumer engagement, it's turning it into a fun, gamified experience.
The same could apply to countless other online activities: signing up for newsletters, participating in online polls, or even engaging with social media posts. These are activities that millions of people do every day, often for free. But the Lightning Network makes it possible to reward these interactions with Bitcoin micro-transactions, effectively distributing Bitcoin into more hands, bit by bit (satoshi by satoshi).
The result? A win-win-win situation. Businesses gain from increased user engagement, users are rewarded for their time and effort, and the Bitcoin network benefits from broader adoption. This not only makes everyday online tasks more exciting, but it also paves the way for a new era of internet economics, where users can gain real financial value from their digital footprint
After all, online data is valuable, so why shouldn't the individuals creating it reap some of the benefits? By compensating user engagement with Bitcoin, businesses can set in motion a virtuous cycle of adoption then education.
I am consumed by the idea that simple practical use cases can nudge humanity towards #Bitcoin. This is the mission that I'm focused upon. This is what I believe will ultimately catalyze the widespread adoption of Bitcoin.