another way to get the price up, I believe, is to increase the demand for the coin. To do that we can increase the use cases of the coin, for example by convincing merchants to accept btx as payments for online purchases. To do that, we can write software that would allow the merchants to easily plug in a payment solution to their website which could allow the merchant to not worry about fluctuating cryptocurrency prices.
That's much easier said than done! You want to convince merchants to accept btx as payments and if they look at btx price from beginning of this year with over 30$ and now 0.8$. How can you convince them that it wont drop 50% in price in one day?! Thats all good ideas but how would they chose btx over for example tether, which droped 1% in a year and thats a scandal!?
Secondly, today cryptocurrencies are not a means of payment in most countries. Therefore, it is not so easy to use Bitcore as a payment for goods and services. Law-abiding sellers will not agree to this.
yes, those are both legitimate issues. they are also issues which bitcoin itself faces. If bitcoin were to ever succeed, it would need to have solutions to these issues - and if it were successful with those solutions, then bitcore could also be successful using those same solutions. At that point, the efficiency that bitcore has over bitcoin should be able to give it an advantage - IF people know about it. that's one big advantage that BTC has over BTX - name recognition.
with regards to the price fluctuation, the idea is that the widget would exchange the BTX as fast as possible to fiat for the merchant. so the concern with the price fluctuation is limited to the span of time between the moment that the buyer clicks on "buy with BTX" and the widget accepts the payment, processes it, makes calls to the exchange and converts to fiat - i.e. not the whole day. since BTX is over 40 times faster than BTC, it should be easier to convince a merchant that they would be less likely to be affected by price volatility with BTX compared with BTC, because BTX is faster than BTC and thus the window of opportunity in which there are price swings would be less. The merchant fee is also much lower than with BTC.
it's good that we discuss these things and brainstorm - not that we are likely to come up with a solution, but discussing these things and throwing out possibly-wild ideas as solutions is the only way those solutions (if they exist) will be discovered.
so far the two issues raised above are issues shared by all cryptocurrencies, except perhaps tether with regards to volatility. I don't know enough about tether to have an opinion on whether the advantages or disadvantages of that currency would be enough to make it a better choice for a merchant than BTX.
if a merchant is not legally able to accept cryptocurrency in their country, then they should not use the widget. Is it possible I wonder for someone in a country that bans cryptocurrency to nevertheless attempt to spend cryptocurrency by going to the merchant's site, which is housed in a different country? it would seem that the buyers country should be able to block access to the site, or perhaps just block the portion of the site that accepts BTX. Another possibility is that the widget queries the user session (i.e. through the http headers) to determine whether the originating request came from a banned country, at which point it would not display itself. The merchant would need to have a secondary means of payment to display if this were the case; and the widget would need to be able to contact a 3rd party to get an updated list of countries that banned crypto, to determine if it should display. If it only did that though it would be very easy to get around that issue, since http headers can be easily spoofed to display whatever origin you like. But perhaps the widget could not be held accountable for spoofing attacks, as all websites are subject to those.
