Sunday, May 25, 2014

The power of 10 dollars

Current Bitcoin's market cap is something from 4 to 10 billion USD. I love Bitcoin, and I know that on this subreddit there is a lots of other people, for whom Bitcoin is everything.

Some of you can remember the movie "Pay forward", where idea was - doing something good for 3 people, in exchange for receiving help from stranger.

I believe in simple ideas. And my idea is about creating a PHP-based web-service with beautiful interface, with following goal: - Global goal of this simple web-service will be a promoting Bitcoin. But how? -- By setting to its participants very simple goal - inviting 3 people to save in Bitcoin - How much 1 invited person should invest/save into Bitcoin? -- Just $10 (or maybe more, but not less)

How this will work? 1) You sign up on a service, and get your own public page where main content will be a 3 pictures with your friends, whom you're invited or not to save $10. 2) If you haven't persuaded 3 person to save at least $10 in Bitcoin, then you're not yet a full member of the service, and your status will be "Mission Unaccomplished" 3) If you found 1 person, who is ready to invest $10, you give him a link with a beautiful explanation with what Bitcoin is (On the same page there will be a promise for what Bitcoin is gonna achieve in a next 5 to 10 years), and with easy steps displayed to help accomplishing this public investment. 4) If a person invests $10, then your indication of mission accomplishment will be upgraded to "1 person invited, 2 more needed". 5) Our web-service will monitor the wallet where person must hold at least $10, if quantity of Bitcoins is getting spent or anyhow reduced bellow $10, then person gets status in service "wallet is empty". For every member it will mean notification which recommends returning funds back, for inviter it will mean losing another invited person temporarily (There wont be a limit on how much you can invite people - the more - the better, but if you have only 3 friends with $10 - it's very likely that at least one of them will spend their Bitcoins, and for your profile it will mean temporarily losing "Mission accomplished" status)

Maybe description for such web-service given by me was too long, but at least I tried to explain basic concepts which I wanted to see in such service.

Now here's some additional points about the idea: 1) This kind of web-service shouldn't have internal wallets, where service participant's money will be held (to avoid repeating mtgox scenario) 2) This service will use public address information to check if there funds necessary to confirm membership. To confirm ownership of the wallet, it will be required to send any amount of Bitcoin to our web-service (e.g. 0,000001 BTC). 3) All captions on the web-site probably won't be like "mission accomplished" or anyhow I have specified it here - you're free to write your own text since I speak English as a second language.

Global goal of the web-service which will be described on the top page of the service is reaching 5 billion people who have saved $10 in Bitcoin. I expect this service to be a social experiment and also very hope that 5 billion goal will be accomplished (on the main page of the service there must be a graph which shows how much members has invested their $10 and how much percent of goal is accomplished)

If web-service will accomplish given goal, then that will mean a lot as for bitcoin, as for web-site users. $10 invested by 5 billion will mean 50 billions in savings. And 50 billion in savings will mean that bitcoin market cap will be increased on such amount. The market cap of around $60 billion dollars will give bitcoin community better price for 1BTC (approx.estimated: $7,500 in case if Bitcoin market cap will reach 60 billion dollars, due to web-service popularity)

Social goal of the web-service will be creating a page with a proof that you are helping Bitcoin economy 1) by investing into your bitcoin wallet a $10; 2) by encouraging 3 other people to invest their $10 who is also must invite their 3 people.

My additional wishes. - I want this service to be translated into every single language - I want this service to have 0 necessity for asset trust from users (users of the service only need to deposit on their own bitcoin wallets, and with their permission, we are getting and publishing info about their wallets) - I want this service to be maximum user-friendly, maximum simple, maximum attractive for new users. - Main goal is providing free service with minimum ads. But it doesn't mean that the web-design and internal functionality of the web-service must be poor and cheap (instead I want to invest as much money as possible to make the web-site of the service look very expensive and well made). If you are talented web-programmer / project manager and if you're starting a fundraiser to create such a service - then I will be first who will contribute significant amount for getting started. Also if you will create such service I will be active member of such service, and will accomplish my profile mission ;)

What you think about the idea? I tried to find such a service on the web, but couldn't find that's why I'm sharing, because I want to find something at least similar. Feel free to use this idea for everything: fundraising, web development, etc if you also want to see such service.

Comment if you would donate your hard earned money for a fundraiser for whoever will start it. How much you would donate? What benefits should get those people who donated for a fundraiser for creating such a service.

Do you think the whole idea will gather enough attention to meet global goal? I'm myself a web-developer, but not quite sure that I'm competent enough to start something like this, thats why it would be way easier for me if someone would do it ;)

1 comments:

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