845 sats \ 3 replies \ @k00b 1 Dec 2023 \ on: Bitcoin's network effects and grounding in {X} bitcoin
"Solve problems that only bitcoin can be used to solve" is my mass market strategy tip for bitcoin founders. I still struggle with what grounding means exactly (tbf I've made a poor effort), but I think I'm saying that a bitcoin product should be grounded in solutions to problems that predate bitcoin.
It's not low-hanging fruit, but using bitcoin for electric utility payments like @andy is with Distributed Charge or like @max_dignan is doing with Synota seems to fit the bill. They're both leveraging bitcoin for instant settlement which bitcoin uniquely provides.
Bitcoin uniquely providing solutions is not an anomaly either. Bitcoin famously monetizes stranded energy. Unforgeable time keeping is another. Most examples (I can think of) are solutions to behind-the-scenes problems so don't assist with network effects much, but there has to be more of them.
I still struggle with what grounding means exactly (tbf I've made a poor effort)
Your understanding seems fine as far as I can tell. I should probably stop talking in these terms, since it tends to confuse more than it helps. It's just so right for the early stages, where something goes from purely symbolic into having a broader interpretation as value.
I think I'm saying that a bitcoin product should be grounded in solutions to problems that predate bitcoin.
Yup. Weren't you the person who likes the jobs-to-be-done framework? Same deal. What kind of jobs are lurking out there? A lot of these are subtle and hard to express, which is why they're still jobs-to-be-done and not solutions to felt problems.
SN is a nice example here, as it's beginning to ground conversation, information, capital formation of ideas in btc, much as @siggy47 just described wrt Fountain and podcasts.
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Your insights on Bitcoin's development and practical application are very thought-provoking.
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Your strategy for Bitcoin utility in specific market solutions is really forward-thinking
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