So this is just my opinion, i'm not sure about the legality of this stuff but it makes sense in my head. Also it's from the perspective of the UK so i'm not sure what the crazy laws just put into place in America have to say about this system.
So at the moment there's a massive drive to try and get businesses to adopt bitcoin as a payment processor and that's great, there's loads of stuff in the press about it whether it be Bitpay or Cryptopay here in the UK or projects like XBTerminal for hardware payment processing.
That’s all good and well but i don't think we're addressing one of the issues with bitcoin, well I’m not sure if it's an issue, lets call it an aspect... which is hoarding. no-one wants to spend it as everyone thinks it's going to go up in value. It's seen as digital gold or some newfangled speculative asset. I think the main reason for this is the process you have to go through to have to buy it. the key word being BUY. you either have to go to a ATM or buy it online with localbitcoins or something similar. you have to spend your money generally at a few % premium to get hold of it. It's a pain in the arse and your exchanging/upgrading your money for some other money which costs slightly more. It becomes this magical special asset that you wanna clutch to your chest and hold onto, it's almost like it's your entry pass to some elite club of people in the know. Thus, your reluctant to spend it.
I think we need to normalise (the spending of) bitcoin, make it feel like money, so you put a bit back, you save for a rainy day but you don't mind going out and having a good time with it. You'd buy a new computer with it, you'd buy your groceries with it, whatever.
I think the way to do this is to promote paying people with it. That IMO is the way to get adoption, you give people the option to get 5%, 20%, 50% of their wages in bitcoin. Once you have it coming in on a regular monthly basis this idea of it being this speculative asset becomes less and less relevant, cause if you spend some, not to worry you get some more at the end of the month. PAYDAY, Wahey!.
At the moment we do have a system, but it's a one way system, people tend to buy and hold. Noted this isn't universal and some people spend it but I think they're in the minority. What we need is an ECOsystem which has a self sustaining cycle of payment and spending.
I think we should be approaching digital recruiters, recruiters that put IT specialists and digital designers in software houses and digital agencies (folks in digital and IT are probably the most receptive to bitcoin). Specifically looking at freelancers who have Limited companies (LTD) this means that the freelancers look after their own taxes so there's no need to mess about with paying the taxes with bitcoin. The recruiter basically pays the VAT in cash and can then give the freelancer the option of a percentage of their wages in bitcoin through one of these payment processing systems.
The payment processors should be running drives to approach these businesses and offer them the services, they should be approaching freelancers and asking them to ask their recruiters to allow them to be paid in bitcoin.
I'm sure i'm preaching to the choir here and this has already been covered somewhere or other but i never hear anyone talking about it and i think it's one of the biggest pieces of the puzzle.
Just my 2 Satoshis...





