Bitcoin as industrial plumbing explained on Brittany Bitz podcast

Getting your Trinity Audio player ready...

CoinGeek’s Alex Moon joined Brittany Faslun on the Brittany Bitz podcast to discuss Bitcoin SV, entrepreneurship on the blockchain, and the grand vision of Bitcoin as a global network.

How do we get people to think in more entrepreneurial terms?

Faslun begins the conversation by asking Moon how we can get people in BSV to think in more business-minded ways.

Moon replies without hesitation that “BSV is the plumbing.” He thinks this is a key concept for others to understand. Aside from this, he believes people should think about how they will change the world and why they exist, noting that this is what people really buy into.

Moon brings up legendary marketing philosopher Simon Sinek and his concept of the Golden Circle. Sinek talks about why, how, and what as the key stages in product development rather than what, how, and then why as the order in which most entrepreneurs tackle it. He says that CoinGeek approached things this way, getting the why right first before moving on to how and what, and encourages other entrepreneurs on BSV to focus on how they communicate that to attract and retain customers.

Faslun asks Moon if those involved in BSV should stop talking about why it’s better and just demonstrate it. He replies that talking about why it’s better has its place in specific contexts but that, ultimately, just using it and showing how it works is the way forward. He emphasizes that it’s plumbing, similar to the TCP/IP protocol he’s using to communicate with Faslun on the podcast.

Giving examples of great apps that work using BSV, Moon mentions Haste Arcade, La Mint, TonicPow, and Genuine Retweets. Bitcoin powers these, but the customers don’t need to know that. “They’re just great apps,” Moon says, driving his point home.

How does BSV fix different industries and enable them to provide the services we need?

Moon responds to this question by saying that it depends on the challenges of the industry concerned. Giving the example of marketing, which is close to his heart, he notes that improving traditional marketing platforms is one problem. He says that, without third-party integrations, marketers will have to deal with spam, bots, and competitors clicking links to drain competitors’ budgets. Furthermore, he points out that large platforms like Facebook and Twitter have no real incentive to stop this since they make money from it. He points to ToincPow as a unique solution to these problems.

In summary, Moon says that, whatever the industry, the question is ‘how can it be improved with simple, fast transfers of data?’ fueled by micro and nano payments, allowing users to audit and verify the results.

What will BSV be like 5 years from now? How will we get there?

Faslun is curious to hear Moon’s view on what BSV will look like in five years as compared to today and how we’ll get there.

“Five years from now, I want to be talking about the blockchain of things,” Moon replies. He points to IPv6 and all of the potential use cases it, combined with Bitcoin, makes possible. However, he sees changing the mindset of internet users as a challenge. Right now, they’re paying with their time and data to use platforms like Instagram, and many neither know nor care.

Moon admits that he doesn’t know where things will be in five years. He thinks it could either be the most adopted technology in the world or could still be languishing where it is now, fighting to get the truth out.

“It’s all about finding solutions to issues,” he emphasizes, saying once again that people in certain industries will be able to better understand the issues they face and how solutions using Bitcoin can help them. For example, he says that entertainers could utilize NFTs to give buyers unique experiences and perks not available to viewers who watch a show on YouTube or via other traditional means. Another example would be paying for content on demand rather than paying for monthly packages full of content any given customer might never watch.

Faslun speculates that some developers with potentially world-changing ideas might think they’re too early to the game, and she asks Moon if he agrees. He replies that those with an idea should go for it, saying that if they make a legitimately great product that solves problems, there will be a market for it. However, he does say that in some cases, customers might need to be educated about Bitcoin to some extent; it all depends on the nature of the product. Speaking to those who had an idea and perhaps waited too long, Moon reminds them that Windows wasn’t the first to launch an operating system, yet it still dominates much of computing today. “Make it better,” he says.

Rather than trying to communicate what Bitcoin can do or improve the image of BSV on social media, Moon advises entrepreneurs to speak about what their Bitcoin-based business can do for customers. He says there are more than a few such businesses going about things quietly without making noise on social media, making deals with customers who need their solutions.

Focus on how you want to communicate to your target audience and customers. Everyone in the BSV ecosystem will support you and champion you wherever you go provided you’re doing things the right way and you have good beliefs because we believe this technology changes the world, Moon noted.

How do we deal with people who think BSV is great but want to be able to use it in the real world?

Faslun highlights a critical problem with digital currencies in general, including BSV. She notes that many people think the tech is great, but they want to be able to use it in the real world. She wonders how we can solve this issue.

Moon says he has a simple solution, and it’s called CentBee. He points out that buying coupons for real-world businesses can allow for the purchase of real-world goods using Bitcoin. He notes that most people buy digital currencies because they want dollars, but it’s our job to show people how they can use Bitcoin in the same way as fiat currencies. This involves teaching people who, in turn, can teach others, creating a snowball effect.

Staying with the theme of solving problems, Moon asks Faslun to imagine where micropayments might be most helpful. He notes that earning sub-cent fees isn’t very exciting to westerners but that plenty of people out there might get excited by earning fractions of pennies.

Likewise, Moon focuses on merchants, pointing out that payment processors earn transaction fees on every payment, and they’re almost certainly higher than fees on Bitcoin SV. These fees add up, especially when dealing with higher ticket items like computers. Faslun can relate as she owns a local retail business with her mother and pays over 3% on each transaction.

Is Bitcoin really necessary?

Faslun points to comments recently made by Ryan X Charles when he left the BSV ecosystem, saying that he no longer believes Bitcoin is necessary and that most of the problems it aims to solve have already been solved by companies like Stripe. She asks Moon for his opinion on this.

Moon starts by saying it’s a shame that Charles left, but he doesn’t think he sees things from a “global, 10,000-foot perspective.” He reminds Faslun that people in the western world are privileged because they can easily open bank accounts, get the necessary documents, and obtain records. He believes that it is the people who don’t have these privileges that Bitcoin can most help. He hopes that, in time, Charles will return, realizing his error.

Watch: The BSV Global Blockchain Convention presentation, Making Blockchain Easy for Real World Use

https://www.youtube.com/watch?v=0VSsozyJNQI