The Bitcoin Problem

Nobody uses it.

There should be a massive initiative focused on a Bitcoin payment service provider that aggressively onboards existing merchant processors that process for businesses that are at high risk of chargeback fraud, e.g. purveyors of vice, and pivots mainstream from there.

Online gambling, adult products and services, pharmaceuticals, medical marijuana, dating services, airline tickets, tourism products and services, telemarketing, forex trading, e-cigarettes, tobacco products, timeshares.

It should address Bitcoin volatility by using exchange API to instantly liquidate into fiat. This is already done but not at scale and definitely not in decentralized fashion. A focused endeavor could have the passive effect of further legitimizing Bitcoin in everyday commerce until a time when, ideally, Bitcoin is large and stable enough to be held by merchants without fear of volatility.

It should be a dao/c. One that utilizes existing human-readable smart/ric contract language as a compliance strategy. Bitpay and everything like it should be decentralized autonomous corporations. There are emerging decentralized dispute resolution outfits with cryptoeconomic incentives that could also be used.

It's 03/14/2019 and merchants don't want to accept Bitcoin anywhere near a level where it could be considered "sound money."

What should we do? What does the future of Bitcoin look like to you?

I love you,

This message is meant to be incendiary and to trigger a competitive spark.

— Eternal September

Update: actually seems to be doing a lot of this. I saw it shoot up coinmarketcap and decided to look into it. For my next act I'll be discussing and dismantling the value proposition of Bitcoin in traditional commerce. I will detail why the transition from legacy money to cryptocurrency doesn't need to take another 10 to 20 years to materialize and how it's much more likely to happen with a currency better than USD, Bitcoin, Dai, etc.