Acceptance of crypto currencies: Do we (still) need a killer app?
Between killer app and skepticism: What it really needs for crypto-acceptance.
With articles it is sometimes like with fermentation processes: something must ferment for it to be finished. Whether it’s good, as with wines, Cole-Slaw or Pruno, man’s taste is (s)a kingdom of heaven.
Nevertheless – is that Bitcoin loophole enough as an argument?
Anyway, I’ve been meditating on this article about the Bitcoin loophole for quite some time. One hears a lot about a „killer app“, which it would need for the acceptance of crypto currencies. The grandiose app, Facebook, Google, Uber and iTunes Music Store, explained on onlinebetrug which would disrupt the monetary system.
And so grandiose things are not only planned, but also realized. Many great things have come into being; thanks to Bitwala and other companies we can pay at normal tills with Bitcoin and other crypto currencies, thanks to various companies e-commerce providers can easily accept Bitcoin and other crypto currencies, and thanks to Bitwage I can even convert my salary – or part of it – directly to Bitcoin.
So I can receive Bitcoin as a salary, pay Bitcoin at the cash register with Bitcoin and as a company I can stick a „Bitcoin accepted here“ banner on the website or shop door with little effort and no lies. All this is great, so that one can only thank companies like the ones mentioned above and many others.
The question that comes to my mind is „what else does it need? Do we really (still) need a killer app that dramatically lowers the learning curve? Is it the (German) people who are simply not innovative or willing to take risks enough for Bitcoin and other digital currencies?
Why should I use the news spy?
Here a short sway from my life: I was recently sitting in a lecture that Bitcoin entrepreneurs wanted to explain. I personally – maybe not a Bitcoin maximumist, but an ethusiast who sacrifices a lot of his free time for the blockchain – liked the lecture about the news spy by onlinebetrug quite well. We talked about the news spy financial transactions without a middleman, about transparency and pseudonymity, about instantaneous transactions (if we ignore the confirmations) – all right!
One of the first questions came from a consultant next to me who supports medium-sized companies in innovative projects. This question was simply why a medium-sized company should accept or pay Bitcoin payments.
The answer was not wrong at all: transactions worldwide, even in the direction of developing and emerging countries, are definitely something worthwhile. Such transactions, which can be realized independently of the status of the respective banks, were something for medium-sized enterprises with business relations to Greece at the time of the crisis there, which helped them to save money from the chaos there!
What is an argument for the use of Bitcoin, DASH and other crypto currencies, whose use case is primarily that of money, for Otto-Normal consumers? Or even more strictly: what is also an argument for the use of Bitcoin as normal money for the traders, miners, masternode operators and HODLers among us?
I don’t know about you, but in bullish times I have trouble spending my saved Bitcoin on a burger or coffee. Yes, I am a stingy, profit-oriented bag!
But I think that I am not alone in this. In this respect, even for us enthusiasts who have invested large sums in Bitcoin, the question ultimately arises even more than for normal Otto consumers.
Sure, I can invest in Bitcoin and other digital currencies. After all, Bitcoin is the digital gold and cases like Venezuela show that it has its ways. But this is ultimately not a use as money, but as a hedge.
Honey catches flies – money catches the payer
How can you convince people of something? A classic market launch strategy is to give people who buy early a discount. In some cases, so-called field testers even give the product free of charge, since the knowledge gained through this field test is extremely important for the product developer. So one hand washes the other.
This mutual benefit can, of course, be transferred to Bitcoin and its associates: I assume that the average trader has calculated his margin with a certain profit – anything else would be a disaster. In the context of this margin you can think about discounts for payments with Bitcoin.
The idea is of course not new – only recently we wrote about Amazon vouchers with 15% discount – but interestingly enough I read more and more „Bitcoin accepted here“, s