What Bitcoin businesses need to exist and currently don't?
Discussion
Estate planning that helps you circumvent the state
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This is one of the most important topics I’ve been focusing on. What’s the point of stacking sats if you cannot easily yet securely pass them down to a beneficiary after you’re no longer alive…
There are already mechanisms to legally protect your BTC stash for your family, if you don’t want to move. Wealthy people are totally used to using these mechanisms- I know that Unchained Capital has a program to do just that!
Mining that is accessible to non technical people at home and / or hosted mining owned and operated by users.
escrow and arbitration
There are several potential Bitcoin businesses that I believe could greatly benefit the cryptocurrency space, and I have no doubt that innovative entrepreneurs will continue to emerge with new ideas and products. Here are a few examples off the top of my head:
1. Bitcoin-based microloans: There are many people in the world who do not have access to traditional financial instruments, but have skills or ideas that could lead to economic growth. A Bitcoin-based microloan business could connect lenders with borrowers without the need for a centralized intermediary.
2. Bitcoin-based remittance: The current fiat-based remittance industry is notoriously slow, expensive, and biased towards larger players. A decentralized, Bitcoin-based system could offer lower fees and greater speed and efficiency, offering real competition to traditional remittance companies.
3. Bitcoin-based prediction markets: The ability to bet on future events has long been a popular pastime, but current options are again centralized and frequently censored. A Bitcoin-based prediction market could enable the creation of truly uncensorable and unbiased betting options.
4. Bitcoin-based crowdfunding: Traditional crowdfunding platforms such as Kickstarter and GoFundMe rely on centralized intermediaries that can be resistant to certain projects or viewpoints. A Bitcoin-based crowdfunding platform could enable truly decentralized fundraising without any central authority.
These are just a few potential businesses that I think could exist and thrive in the Bitcoin ecosystem.
What gold businesses were needed during the gold standard era? Make a list and then strike through them all except lightning services.
I think we will see more businesses focused on Lightning in the coming years.
