The following is my script for my next All About Bitcoin Cash video. I would love to hear your feedback. If you read this article soon, I can still take your feedback into account.
The Script begins
Hello everybody and welcome to "All About Bitcoin Cash!"
Recently I've been thinking about how to increase the adoption of Bitcoin Cash in the real world.
For instance, imagine how great it would be if Amazon or another big company started to accept Bitcoin Cash payments. And I thought about what would have to happen for that idea to become a reality.
How could we convince someone in a leading position at Amazon or another company to decide that they start accepting Bitcoin Cash for payments?
And then I thought "how easy would it be if that person was already a Bitcoin Cash supporter?"
My next thought was "how could we get a Bitcoin Cash supporter into such a position?" And I realised: "That is probably pretty hard to achieve..."
However, maybe we could start the other way around: We are already Bitcoin Cash supporters. And some of us have some skills. Maybe we could start a company - or offer our services. And then we could accept Bitcoin Cash for payments, of course!
Next I realized: "Wait a minute! I'm a person who has some skills! Why shouldn't I offer my skills for Bitcoin Cash?!"
One of my skills is that I am a fitness instructor and I have been instructing group fitness classes for years...
I usually work for the local university, but during the lockdowns, the official classes were paused and I offered some online and some outdoor fitness classes on my own. And people actually quite liked them...
I offered these classes for free, but as I actually needed to buy some equipment, I asked the participants for donations.
I needed a portable speaker for the outdoor classes. And a better camera and a Bluetooth headset for the online classes.
Therefore, I came up with the idea to ask the participants for donations. Anyone was allowed to participate in the classes for free. And if they liked the class, they could just give me a small donation.
I offered several ways to donate: They could donate cash. Or they could send me a bank transfer. Or they could send me the money via PayPal. And I also offered to Bitcoin Cash payments, but unsurprisingly, no one used that last option to send me donations. Unsurprisingly and unfortunately...
For that reason, I have been thinking about how I could incentivize using Bitcoin Cash to donate for the fitness classes... And I came up with an idea:
What I will be doing now is: I will record a video for my participants. This video will be in German as I live in Germany and my participants speak German. I change the donation to a participation fee of 1€ - which is quite cheap for a fitness class that runs 75 or 90 minutes. They can pay in cash, per PayPal or per bank transfer.
And I will also offer Bitcoin Cash payments. However, if a participant decides to pay in Bitcoin Cash, then I'll drop the fee to 0.10€. The reason for that is: I believe that Bitcoin Cash is currently undervalued by a factor of ten. That means that when someone buys 1 BCH now for $500, I think they get an exceptionally good deal - as the price should be closer to $5,000 than to $500. That's why I accept 0.10€ instead of 1€.
In addition to that I will tell my participants that they can also join noise.cash or read.cash and get rewarded in Bitcoin Cash for writing articles or using social media. If they do that, then they can pretty much participate for free.
What am I trying to achieve?
I hope to onboard quite a few people to noise.cash and read.cash - which themselves are onboarding mechanisms to Bitcoin Cash. This means that the main purpose of these platforms is to get new users to Bitcoin Cash - who will hopefully learn about Bitcoin Cash. And in the best case scenario they will also fall in love with Bitcoin Cash.
As a side note: That actually does happen sometimes. At least in my case it did. 😉
And I hope that by offering the fee ten times cheaper in Bitcoin Cash than in Euros, this will be enough of an incentive for my participants to use Bitcoin Cash.
What do you think about the idea?
My concern is that 1€ is too low of an amount to incentivize most participants to learn about Bitcoin Cash... Most participants may rather pay more than learn something new. However, if I charge more for the classes, then the participation might drop. Or my participants may think I'm greedy...
I am considering to include a short primer on Bitcoin Cash in that video.
However, my concern is that they might feel like I'm trying to force Bitcoin Cash down their throats. Or that Bitcoin Cash could feel like a cult if I praise it in the video...
That's why I'm looking forward to your feedback!
Anyway, wish me luck! I hope my plan will work out for the benefit of Bitcoin Cash.
When it comes to donations, when people are ready to donate, they will not choose the method that is cheapest, but the one that is easiest. If they don't have BCH, they probably won't bother to get it in any way. That's why no one donated with BCH. Your target group simply doesn't own BCH. Also, I think a lot of people in Germany don't use crypto because they're afraid they'll get in trouble for taxes.