veta
New member
It occurred to me such a site, and perhaps something analogous for altcoins in general, would appeal to the main demand driver outside of speculation: The Deepweb.
Now it's true there exists individuals who simply dollar cost average Bitcoin with part of their paycheck every few weeks. And they do this because they either believe in the technology or because they are irrational, but regardless I would venture to guess they make up a small percentage of the daily buy demand. The vast majority of demand comes from the multi-billion dollar industry that is the online blackmarket.
Now why would we care about the online blackmarket? Well for starters it would bring a substantial influx of non-speculative funds into the Darkcoin ecosystem, as it has for Bitcoin. This would facilitate a higher marketcap, and of course benefit all the speculators, but more importantly it would enable Darkcoin to do what it's meant to: facilitate exchange. If the marketcap of Darkcoin is low and the liquidity irregular then nobody will be using it for any transactions, legitimate or otherwise.
One of the primary obstacles to taking a piece of the Deepweb pie has been vendor adoption. This is of course a chicken-and-egg problem. You can convince vendors to accept Darkcoin but that's irrelevant so long as patrons aren't using Darkcoin or don't have a place to use it. And most vendors won't accept it until it's prolific. Patrons need a reason to use Darkcoin and while anonymity is nice most patrons are either careless (they're using the online blackmarket...) or realize it's the vendors not them who are at risk. I do think instant transactions and the other planned implements of Darkcoin are compelling and as long as it's not inconvenient to acquire compared to Bitcoin we'll see some major inroads.
Now we come full circle. The main convenience of Bitcoin over any alternative, besides name recognition, is the local option of exchange. Bitcoinlocal.com allows you to purchase in person with cash, as well as any other imaginable payment method. This discretionary option appeals to the typical blackmarket patron, especially when the alternative is giving your life story to the currency exchangehouse of your choice.
I would propose we either lobby BitcoinLocal.com to build support for Darkcoin, or build our own version. If we opt the latter, it would make sense to generalize for all kinds of cryptocurrency.
Now it's true there exists individuals who simply dollar cost average Bitcoin with part of their paycheck every few weeks. And they do this because they either believe in the technology or because they are irrational, but regardless I would venture to guess they make up a small percentage of the daily buy demand. The vast majority of demand comes from the multi-billion dollar industry that is the online blackmarket.
Now why would we care about the online blackmarket? Well for starters it would bring a substantial influx of non-speculative funds into the Darkcoin ecosystem, as it has for Bitcoin. This would facilitate a higher marketcap, and of course benefit all the speculators, but more importantly it would enable Darkcoin to do what it's meant to: facilitate exchange. If the marketcap of Darkcoin is low and the liquidity irregular then nobody will be using it for any transactions, legitimate or otherwise.
One of the primary obstacles to taking a piece of the Deepweb pie has been vendor adoption. This is of course a chicken-and-egg problem. You can convince vendors to accept Darkcoin but that's irrelevant so long as patrons aren't using Darkcoin or don't have a place to use it. And most vendors won't accept it until it's prolific. Patrons need a reason to use Darkcoin and while anonymity is nice most patrons are either careless (they're using the online blackmarket...) or realize it's the vendors not them who are at risk. I do think instant transactions and the other planned implements of Darkcoin are compelling and as long as it's not inconvenient to acquire compared to Bitcoin we'll see some major inroads.
Now we come full circle. The main convenience of Bitcoin over any alternative, besides name recognition, is the local option of exchange. Bitcoinlocal.com allows you to purchase in person with cash, as well as any other imaginable payment method. This discretionary option appeals to the typical blackmarket patron, especially when the alternative is giving your life story to the currency exchangehouse of your choice.
I would propose we either lobby BitcoinLocal.com to build support for Darkcoin, or build our own version. If we opt the latter, it would make sense to generalize for all kinds of cryptocurrency.