Topic: Will the Dominica Bitcoin Drop be a Success? (Read 2656 times)
Yes in my opinion.It's like showing a right track to people lost track and set them free from ongoing dilemma of conservative financial bound.
Fiat currencies will go under, and it will not be pretty. Will people, in the internet age, fall for the fiat trap again? Possibly not. People are much more knowledgeable today and it could be that cryptocurrencies will partially replace failed fiat currencies...
People is free to use btc anywhere they like, if they have a pc and internet.
I agree. As said above air drops like this are generally not very successful and the people who receive the coins generally just sell them if they do anything with them at all.
Which air drops are you referring to?
I'm only aware of Aurora (other 'nation coins' were mostly scams). But this one would much different than the AUR one, for many reasons, main one being bitcoin is already established with big infrastructure, and success of bitcoin doesn't at all depend on success of the drop.
The drop seems to me like a waste of money. That money would be better spent in a grassroots effort to educate the people about Bitcoin first by actually having some places where it could be used. Show people what it is first and make them want to know more. Starting with an air drop like this doesn't really feel like it's going to have much impact.
I agree. As said above air drops like this are generally not very successful and the people who receive the coins generally just sell them if they do anything with them at all. The drop seems to me like a waste of money. That money would be better spent in a grassroots effort to educate the people about Bitcoin first by actually having some places where it could be used. Show people what it is first and make them want to know more. Starting with an air drop like this doesn't really feel like it's going to have much impact.
I do see your point, but note that the drop will come together with some educational/explanatory campaign (I hope). And it's very hard to get people interested in bitcoin if they completely don't know what it is, don't have any of it, don't know how to get it, they simply may not be interested in educating themselves. It's best to give them some small (but not to small) amount and they're more likely to seek education/information even on their own.
The drop seems to me like a waste of money. That money would be better spent in a grassroots effort to educate the people about Bitcoin first by actually having some places where it could be used. Show people what it is first and make them want to know more. Starting with an air drop like this doesn't really feel like it's going to have much impact.
My guess is 90% of the BTC "dropped" will never get spent, and will forever remain permanently locked in the blockchain.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
It's not about how much is given. I always hear that people in developing nations are ignorant and stupid. Obviously there needs to be training in how they can benefit from the technology. There needs to be a long term plan to help developing nations use cryptocurrencies. I would like to see a think tank develop such a plan. I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
You are missing the point. This even is not about these islanders starting to use Bitcoin, it s all about the event and positive marketing effect of that event. People in the rest of the world hear about, people read about it, people get wallets, buy Bitcoin, use Bitcoin. To put it differently, it adds up to general BTC acceptance and we need a lot more of that.
Ohhh, so this isn't about the 70,000 Dominicans? We're just exploiting them for a marketing gimmick?
Phew, glad we got that cleared up. I thought there might be some ill intentions here or something...
My guess is 90% of the BTC "dropped" will never get spent, and will forever remain permanently locked in the blockchain.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
You are missing the point. This even is not about these islanders starting to use Bitcoin, it s all about the event and positive marketing effect of that event. People in the rest of the world hear about, people read about it, people get wallets, buy Bitcoin, use Bitcoin. To put it differently, it adds up to general BTC acceptance and we need a lot more of that.
My guess is 90% of the BTC "dropped" will never get spent, and will forever remain permanently locked in the blockchain.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
Interesting aspect..
Read the terms. The funding for the "Bitcoin drop" is from suckers people who donate money for it. The people behind the "Bitcoin drop" aren't putting up the money.
And they're sure to pocket a percentage of the donations.
My guess is 90% of the BTC "dropped" will never get spent, and will forever remain permanently locked in the blockchain.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
I'm sorry, and I'm all for bitcoin, but this idea is ridiculous. What's the average person going to get? Maybe $5, so 0,011 BTC? In general, these are fishermen and others who work for low wages, and for many people, their biggest investment is probably some sheep / goats, maybe a cow, etc. You're going to spam the entire island via SMS letting them know they now have 0.011 BTC? They're going to laugh at it as if it's just some huge joke, and make fun of the stupid mainlanders while sitting around enjoying dinner and drinks that night.
That's the most likely result. Trust me, these people aren't abandoning cash for bitcoin any time soon.
Read the terms. The funding for the "Bitcoin drop" is from suckers people who donate money for it. The people behind the "Bitcoin drop" aren't putting up the money.
I doubt that it's going to be a big success, but it will be an interesting experiment and we will be able to see what disadvantages still need to be considered for future drops. And we can learn what still needs to be optimized in order to make Bitcoin attractive to the common public!
It would be a big step for Bitcoin but government wont allow It.
I am pessimistic about the drop. The ecosystem of BTC in Dominica is not built up yet. The citizens have nothing knowledge about BTC and don't know how to use it.
What will happen whit the BTCs they get? Will they just be unused?
The most fair way would be to randomly distribute public addresses to the populace. Then after the loading process (whatever means is chosen) is done, randomly distribute the private keys to be swept into spendable wallets.
Will be successful. Its adoption is given by the central government. The population will get to know and spend BTC. It will be set good example for Bitcoin industry.
This will fail because it's most likely the amount given will be ridiculously small. They don't have any BTC to begin with! They're waiting for people to give them the BTC which they will later redistribute.
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