You are basically describing Bitcoin in its early days.
Bitcoin was created in 2009 and initially gained popularity among a niche group of tech enthusiasts who saw its potential as a decentralized, peer-to-peer digital currency. Its value was initially very low, with some early adopters even giving away large quantities of Bitcoin because they wanted to promote its adoption and increase awareness about its potential. However, over time, more people became interested in Bitcoin and began to see its potential as a store of value and means of exchange. As the demand for Bitcoin increased, its price began to rise, leading to more media attention and mainstream acceptance.
So, even if you manage to create a digital token and a network that miraculously becomes universally accepted, you will end up with just another version of Bitcoin. Why would anyone want that?
Topic: How to enable non-fiat Bitcoin onramping for the masses? (Read 112 times)
If a coin is created with the only purpose of being exchanged for Bitcoin, it will have no value. Which will make it impossible to exchange for Bitcoin. There are countless coins that tried to become popular by being accessible. Some had CPU/GPU mining, others were airdropped, but they are all dead or will soon be dead, because no one uses them as a currency.
The best way to distribute Bitcoin to people without having them buy it is to let them earn it for their goods and services. Pay salaries in Bitcoin, buy their goods with Bitcoin, tip them in Bitcoin and so on.
The best way to distribute Bitcoin to people without having them buy it is to let them earn it for their goods and services. Pay salaries in Bitcoin, buy their goods with Bitcoin, tip them in Bitcoin and so on.
This thread (https://bitcointalksearch.org/topic/what-other-ways-are-available-for-purchasing-bitcoin-5445086) about needing fiat to on-ramp into the Bitcoin ecosystem got me thinking.
What's the best way to remove the necessity of needing that fiat in-ramp (banks) to get into Bitcoin?
There's like in person p2p transactions but that is a hassle and can be dangerous. Since everyone's money is fiat generally we need fiat onramps to get into Bitcoin. But that is looking like it could be a potential weakness with govts trying to debank the crypto world a bit.
Specifically I was thinking about how a crypto altcoin could be designed that would allow people to own it without buying it. Basically an altcoin that is easy to earn, and is perhaps tied to identities or mobile devices, in which the whole point would just be to easily on-ramp people into crypto without fiat. This onramp altcoin could then be used on decentralized bitcoin exchanges to buy Bitcoin, all without ever relying on fiat/banks. The purpose of such an altcoin wouldn't necessarily be to accrue a lot of value in itself, but to at least have some reasonable value in the market to provide no only a reason to get it in the first place but to enable the liquidity of that value to be used by the people to buy bitcoin.
I was just thinking this would seem to be the best way to onramp people into Bitcoin without relying on fiat/bank onramps. Obviously such a crypto token would have to be designed in such a way that it couldn't be easily exploited, because the design would be to spread tokens easily to anyone in the public, but obviously have some sort of limiting way to get them so people can't just pick up tons of tokens, as in, they need to be limited enough that they have some sort of worth.
Anyway, for anyone interested in this though expirement, how would you go about designing such a crypto token?
The crucial things being:
1. Anyone can accumulate some of these tokens without needing to buy them, but there must be some sort of way to limit the accumulation, and stop the issuance mechanism from being hacked/spammed by interested parties.
2. It should take some sort of actual work, though it should be easy enough for anyone to do, this isn't an airdrop. There needs to be something done to promote an actual value here rather than just a free token.
3. How would the network be secured? It doesn't have to be all super decentralized, its okay if its a "centralized s**tcoin" because the point is just to easily onramp people into crypto without having to buy crypto. But the network needs to be secure enough so that it stays operational and afloat.
What's the best way to remove the necessity of needing that fiat in-ramp (banks) to get into Bitcoin?
There's like in person p2p transactions but that is a hassle and can be dangerous. Since everyone's money is fiat generally we need fiat onramps to get into Bitcoin. But that is looking like it could be a potential weakness with govts trying to debank the crypto world a bit.
Specifically I was thinking about how a crypto altcoin could be designed that would allow people to own it without buying it. Basically an altcoin that is easy to earn, and is perhaps tied to identities or mobile devices, in which the whole point would just be to easily on-ramp people into crypto without fiat. This onramp altcoin could then be used on decentralized bitcoin exchanges to buy Bitcoin, all without ever relying on fiat/banks. The purpose of such an altcoin wouldn't necessarily be to accrue a lot of value in itself, but to at least have some reasonable value in the market to provide no only a reason to get it in the first place but to enable the liquidity of that value to be used by the people to buy bitcoin.
I was just thinking this would seem to be the best way to onramp people into Bitcoin without relying on fiat/bank onramps. Obviously such a crypto token would have to be designed in such a way that it couldn't be easily exploited, because the design would be to spread tokens easily to anyone in the public, but obviously have some sort of limiting way to get them so people can't just pick up tons of tokens, as in, they need to be limited enough that they have some sort of worth.
Anyway, for anyone interested in this though expirement, how would you go about designing such a crypto token?
The crucial things being:
1. Anyone can accumulate some of these tokens without needing to buy them, but there must be some sort of way to limit the accumulation, and stop the issuance mechanism from being hacked/spammed by interested parties.
2. It should take some sort of actual work, though it should be easy enough for anyone to do, this isn't an airdrop. There needs to be something done to promote an actual value here rather than just a free token.
3. How would the network be secured? It doesn't have to be all super decentralized, its okay if its a "centralized s**tcoin" because the point is just to easily onramp people into crypto without having to buy crypto. But the network needs to be secure enough so that it stays operational and afloat.
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