{"id":266,"date":"2014-05-16T01:08:00","date_gmt":"2014-05-16T01:08:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/building-bitcoin-economy-how-to\/"},"modified":"2023-01-10T01:27:06","modified_gmt":"2023-01-09T23:27:06","slug":"building-bitcoin-economy-how-to","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/building-bitcoin-economy-how-to.html","title":{"rendered":"Building a Bitcoin Economy: how to stimulate adoption"},"content":{"rendered":"
This how-to guide is part of a series written by director Andrew Wagner on behalf of the Bitcoin Co-op.<\/i><\/div>\n
<\/div>\n
Think you have what it takes to be a real Bitcoin
\nevangelist? Want to learn how to start your mission into the world of
\nfiat economics? Having preached the good word of Satoshi to laymen of
\nall kinds, I\u2019ve made my mark and learned a lot about promoting crypto
\nadoption. Before you begin your journey, take a moment to read and learn
\nabout the science of Bitcoin evangelism.<\/div>\n
Most cryptocurrency initiatives require one of two
\nthings: intellectual capital (to code the software and design the
\nsystems that make everything work) and financial capital (to pay for
\nhardware, commercial space, legal fees, and intellectual capital if it
\nis lacking). Adoption is probably the only field of the crypto industry
\nthat requires cultural or social capital, at least at the grassroots
\nlevel. But what does that mean in practice?<\/div>\n
<\/a><\/div>\n
The first step on your mission is to assess the
\nconnections you already have. In my case, that was a network of notable
\nVancouver Meet Up groups, and a job as a venue promoter. At first you
\nwon\u2019t have existing merchants to refer to as references, so you\u2019re going
\nto need to find people who really trust you. Plenty of free solutions
\nto accept exist, and once they realize the advantages of cryptocurrency,
\nthey\u2019re likely to stick with it.<\/div>\n
Those advantages, however, are not enough. The
\nsuperiority of accepting payments via Bitcoin is meaningless if nobody
\nis spending their bitcoins. Even if Bitcoiners prefer to spend
\nfiat\u2013maybe because the price is on an upswing\u2013just bringing their
\nbusiness to the adopting merchant provides the necessary incentive, and
\nthere are a number of ways you can do that.<\/div>\n
This is where experience as a Meet Up organizer will
\ncome in handy. If you\u2019re not a member of your local cryptocurrency Meet
\nUp, already, become one, or start your own group if none exists.
\nCommunity pages at Facebook and Google Plus will also help. Since all of
\nthe businesses I signed up were event venues like coffee shops,
\nrestaurants and bars, I was able to bring them business directly by
\nholding Meet Ups at their locations. Even for non-venue businesses,
\nthough, a community allows you to connect producers to consumers and get
\nthe word out.<\/div>\n
<\/div>\n
Once you have a network in place, set about bringing
\nmore businesses on board, and that network should grow. In addition to
\nthe natural benefits of cryptocurrency, you now can now promise
\nadditional benefits in the form of direct customers\u2013look for businesses
\nlikely to be open minded, like those already hosting Meet Ups or listed
\non websites like GroupOn or LivinSocial. Each new adopter you post to
\nsocial media will bring more Bitcoiners into the fold, which in turn
\nincreases the amount of business (and incentive) you can provide.<\/div>\n
<\/div>\n
Eventually, your following should grow to the point that
\nyou can bring more customers indirectly via publicity than you can
\ndirectly. You should probably have a couple local reporter contacts, by
\nnow. New crypto Meet Ups and splinter groups will form, and inevitably
\nthe majority of events and merchant connections will be initiated by
\npeople other than yourself. This is natural in community building, and
\neven moreso in a community based on techno-libertarian roots\u2013don\u2019t be
\ndiscouraged.<\/div>\n
Just go with it, take a step back, and use your newfound
\nmarketing power to promote those working together for the cause. If you
\nmaintain an honest, non-profit-focused campaign, you will become the
\nface of this new community; forward media inquiries where appropriate,
\nand engage positively with the mainstream media. Soon you\u2019ll be ready to
\ntake Bitcoin adoption to the next level.<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

This how-to guide is part of a series written by director Andrew Wagner on behalf of the Bitcoin Co-op. Think you have what it takes to be a real Bitcoin evangelist? Want to learn how to start your mission into the world of fiat economics? Having preached the good word of Satoshi to laymen of […]<\/p>\n","protected":false},"author":1,"featured_media":847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,37,76,337,679],"tags":[704,764,1012,1332],"yoast_head":"\nBuilding a Bitcoin Economy: how to stimulate adoption -<\/title>\n<meta name=\"description\" content=\"Learn about strategies and approaches being used to build the Bitcoin economy. 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