Doing my little bit to help crypto adoption
The holy grail of crypto is adoption and real world usage. At the moment, the principal use case for most of the crypto tokens is as long (or short) term price speculation. This means that a huge chunk of the tokens are locked up in wallets that will never spend them, this defeating the purpose of the tokens and the entire system altogether!
Of course, it is difficult to ask people to spend tokens if they are convinced that the tokens might be worth many times more in the years coming, but for them to achieve that sort of valuation then people need to be encouraged to move the tokens around! A viscous circle!
My tiny contribution
Well, the big thing would be major retailers started accepting crypto...someone like Amazon, Alibaba or that sort of thing. Seeing as I don't really have any influence with these giant retailers, I have a slightly different route.
Every new year and summer (especially as we have kids that outgrow things...), we have a big clean out of the attic and garage where we have temporarily dumped stuff. Often we donate a lot to other families or charities, but there are also things that we sell. These things we list on Marktplaats, which is the Dutch equivalent of EBay, or Facebook groups or other closed second hand groups.
So my little bit involved offering a steep discount (around 10 to 25 percent) to anyone who will settle their bid or purchase with a crypto that I am happy to accept (which does include Steem!). So far, I've sold two items from the winter clean up, but neither took the crypto route... Soon, I hope to have a taker...
Keep Your Crypto Holdings Safe with Ledger
Ledger is one of the leading providers of hardware wallets with the Ledger Nano S being one of the most popular choices for protecting your crypto currencies. Leaving your holdings on a crypto exchange means that you don’t actually own the digital assets, instead you are given an IOU that may or may not be honoured when you call upon it. Software and web based wallets have their weakness in your own personal online security, with your private keys being vulnerable in transit or whilst being stored upon your computer. Paper wallets are incredibly tiresome and still vulnerable to digital attacks (in transit) and are also open to real world attacks (such as theft/photography).
Supporting a wide range of top tokens and coins, the Ledger hardware wallet ensures that your private keys are secure and not exposed to either real world or digital actors. Finding a happy medium of security and usability, Ledger is the leading company in providing safe and secure access to your tokenised future!
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Good idea from giving cryptos a chance on your garage sales.
I think that would be nice if you show us some images when you do it. Just for the community can see how easy can our give help the market.
On other point, you are doing a great work, i wish i can have internet to help more, but atm i do many as i can with my limited data on my phone.
Cheers and continue offering solutions,many people needs help.
Hi from Venezuela! :)
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So far, no one has taken up the idea! Which is a bit weird, as it would be relatively easy to load some crypto with quick small transfer and take advantage of a 20% discount!
I guess you need to find someone familiar enough with crypto to understand how easy it is.
Haha... it is proving difficult! I have many people asking what crypto and Bitcoin is!
Cool idea. But how does this take place? I mean practically...
In practice it would need to be done with two people with mobile hot wallets. Or it could be arranged before hand, where you have the buyer paying first, then picking up later.
I do something similar. I sell a bit of Lego online via a website callee Bricklink and I offer a 20% rebate for anyone paying with Steem or SBD
Oh that's interesting! I will need to take a look! My oldest lives Lego friends and my younger lives duplo!
You’re right, the more places we can use crypto the better. Great idea.
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Little steps! If one of the big retailers started, it would be pretty awesome!
I totally agree.
See:
"(IJCH) To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming (or How Kinesis aims to Solve this Dilemma)"
LinK:
https://steemit.com/blockchain/@jaichai/ijch-to-gresham-or-not-to-gresham-that-is-the-question-why-hodl-actually-hampers-mainstreaming-or-how-kinesis-aims-to-solve-this
Happy New Year, my friend.
Namaste,
JaiChai
Thanks, I will take a look!
Totally agree with both of those points about mass adoption and real use. I'm starting to set my website up to take payments in crypto to help whoever comes my way to pay in alternative currencies. Also just slipping it in to casual conversation when I can but it's still met by resistance by pretty much everyone I speak to.
It's little things, and if it is available to pay with people might take a look in! Little things can lead to lucky breaks!
Finally got around to buying a Ledger on a Black Friday half price sale. Thought it would be a comvenient way to keep copies of my wallets outside of the safety deposit box.... however it is looking like there is no backing up a ledger? That is, once tokens are on ledger it will have its own keys and your wallet.dat backups will no longer be matched backups? Is that correct? If so it seems dangerously like having all your eggs in one basket.
Any clarity you may have on Ledger bavkups would be appreciated.
The Ledger wallets and addresses (with private keys) are attached to the seed words (24 of them), in a similar way that most wallets are backed up by the seed words that generate the public and private keys for most of the crypto chains.
If you have a second ledger you can always reinintialise it with the same 24 seeds and you will have the private keys to the addresses. I would highly recommend that you use the 'deniable plausibly' option and have the 24 seeds plus one extra secret seed as your main storage. This allows you to store the two parts separately (24 seeds and the one secret) without debasing the security of your seeds. If you use 24 only, you make the security less even if you divide up the 24 into seperate parts as you are reducing the space of words to choose from.
Before you move any crypto into the wallet, I recommend also that you wipe the new ledger wallets, and try to reinintialise with the seeds (whichever way you do it...) to make sure that you can recover the keys (that you really copied the seeds correctly!).
Hope this answers your question (sorry if it was pitched too low, I'm never sure what people already know!)
Really appreciate you explaining things. Makes perfect sense now. Also a great tip to do the reinintialise test! Thanks!
I just re-read your original question, I thought it might be handy to make it clear that the Ledger will create new addresses/wallets for you. It generally can't be attached to existing wallets.
Thanks again. Looking forward to getting home and playing with it further. It had found, what was thought to be, a permanent spot in the back of my desk drawer. 😎
A few months back, they released a piece of desktop software called Ledger Live (it can be downloaded from their website). It is a much better solution than the Chrome apps that they had originally been using, I would suggest using that. I've been toying around with it at launch and it is pretty decent.
If you have any other questions, feel free to drop by and ask!
Another great tip. Thanks again! Will probably post about it once successful.
No problem... easiest way to wipe the Ledger is to fail the PIN 3 times.
@bengy,
Thousand mile journey ... start with first step.
Quill
It would be easier with a plane...
This is a really good idea!!
It's a little steep, but if enough people do little things...
Ahahah. Good luck for your sale. 🎅
So far, no takers on the crypto discount... But at least things are getting sold!