how to get a billion people to use BCH!

There's a slogan going around in BCH circles:

get a billion people to use BCH!

This slogan reminds me of Jack ma's slogan:

Let there be no hard business!

and I feel that they are both very ambitious goals!

But now Jack Ma has done it, his Alibaba and Taobao、Alipay has not only made the world no hard to do business, but also made a billion people have no hands. (What?You still have one hand to chop off?)

So how is BCH going to be able to be used by a billion people?

The most important issue facing BCH now.

People don't have a rigid demand for using BCH.

In fact, not only is there no rigid demand for BCH, there is not a rigid demand for BTC, or even for all digital currencies. Although I'm mainly talking about BCH today, the things I'm talking about actually apply to all digital currencies.

For example, I'm a fan of BCH, and I'm already trying to find opportunities to use it more, but to be honest, I really don't have a rigid demand for using BCH, and as far as my personal daily life is concerned, wherever I can use digital currency, I can currently solve it with fiat currency.

But real demand demand determines real value, and real value determines price, so what should we do about the trillion dollar market cap path of BCH?

My personal rough estimate, based on the theory of minimal network effects, is that if the first 100,000 people can use BCH, there will be an initial network effect, and a billion people will be able to use BCH in the future.

So where is the initial demand for those first 100,000 people? Where is the real demand for digital currency?

I'll sum it up in four words:

cross-border, innovative, illegal and restricted.

First, let's talk about cross-border: at present, the efficiency of cross-border transactions and cross-border transfers in fiat currency is very low, if it is fast, it will take a few days and weeks, if it is slow, it will even take six months and a year, while the BCH cross-border transfer is at the minute level, the efficiency can be said to be very high, and BCH is launching zero confirmation, when the efficiency will be even higher.

Not only trade, but even when you travel abroad and study abroad, you can't carry a lot of cash with you and foreign exchange is a hassle, which can be completely solved with digital currencies.

These scenarios are concentration camps for the real needs of digital currencies, and are the basis for the development of digital currencies, and the amount of future business will be very large.

2, let's talk about innovation: to make traditional enterprises and merchants accept digital currency, considering the audience accuracy, legal, compliance and other issues, it may be a little more difficult.

But for emerging companies, Internet companies, high-tech companies, especially blockchain native companies, these companies should be the easiest to accept digital currencies.

Coin Security, for example, offers the service of paying salaries in digital currency.

These companies are the spark that will lead to the widespread adoption of digital currencies in the future.

3, about illegal behavior: such as drugs, gambling, etc., this is a little embarrassing. The real strong demand for digital currencies is these illegal activities, and the anonymity of digital currencies also objectively facilitates illegal activities.

But after all, this point violates the law, and social good public order and morals are also inconsistent, so this we do not encourage, but also difficult to eradicate.

4. Finally, restrictions: Under the current fiat currency-based payment and settlement system, there are many behaviors that are restricted.

For example, the acceptance of P2P and equity payment systems is restricted, certain special industries need to go through a lot of extra formalities to access the existing payment systems, and there are also restrictions on the amount of large-value transfers, such as the exchange rate impact that is difficult to eliminate when making cross-border payments.

These places where fiat currency payments are restricted are also the main areas where digital currencies are being developed.

The goal of digital currency is not to replace fiat currency or compete with fiat currency, but to make up for the deficiencies of fiat currency and compete with it where it is not competitive, so as to bring greater convenience to society.

If the above four aspects are done well, we can accumulate enough seed users for digital currency, and I believe this number can exceed 100,000, after which the subsequent network effect will enable users to exceed 1 billion, thus walking out of the road of "rural encircling urban".