There are no transaction costs with Bitcoin, or close to zero, and that is great, nor forex. It is also instant, unlike wire transfers.
What must happen with bitcoin now (I think), is people with large stashes of Bitcoin, or anyone that wants it to see it succeed must give it away to people who promote it, in the same way PayPal gave $5 to new sign-ons.
One way to do this is by having a site that authenticates against a twitter account, and then posts a promotional tweet to collect free bitcoin. The tweet is checked that it stays on a timeline for a length of time. If it does, the tweeter gets their free coin (and their followers can emulate.) The account is then nullified, or perhaps another promotional tweet after a set time with more free coin.
Site takes a commission. I just mentioned this to Mt Gox to consider something like this.
Add: the site can have a leaderboard: who gave the most coin away (# and $ at the time) and to whom, and how many signups were created as a result (and subsequent follower-follower signups.) People that reach the top have traded their coin for merit and can champion the bitcoin reality.
From pyramid to sphere. I have the name bit rific if anyone wants to build it with me.
Comments
There are no transaction costs with Bitcoin, or close to zero, and that is great, nor forex. It is also instant, unlike wire transfers.
What must happen with bitcoin now (I think), is people with large stashes of Bitcoin, or anyone that wants it to see it succeed must give it away to people who promote it, in the same way PayPal gave $5 to new sign-ons.
One way to do this is by having a site that authenticates against a twitter account, and then posts a promotional tweet to collect free bitcoin. The tweet is checked that it stays on a timeline for a length of time. If it does, the tweeter gets their free coin (and their followers can emulate.) The account is then nullified, or perhaps another promotional tweet after a set time with more free coin.
Ways to guage a twitter account's worth: is it verified, its metrics, or through APIs http://www.retweetrank.com/view/api http://developer.klout.com/api_gallery http://dev.peerindex.net/docs/profile/show
Site takes a commission. I just mentioned this to Mt Gox to consider something like this.
Add: the site can have a leaderboard: who gave the most coin away (# and $ at the time) and to whom, and how many signups were created as a result (and subsequent follower-follower signups.) People that reach the top have traded their coin for merit and can champion the bitcoin reality.
From pyramid to sphere. I have the name bit rific if anyone wants to build it with me.