With delivery on next generation privacy technology right around the corner, we’re about to enter an exciting new phase for Firo - establishing it’s place and value in the market! I’ve been thinking a lot about the components of this over the past couple months and would like to offer up my suggestions on where Firo could go from here. These are ideas, and it’s fun to collaborate so please bring your ideas as well on how you envision Firo’s success in the future.
Where to start?
Imagine we’re 5 years in the future. Firo has just landed a groundbreaking article in Forbes where Firo’s been applauded for it’s adoption and technical innovation! It’s broken away from BTC in price and has established itself as a top 5 cryptocurrency. How did this happen?
Here’s what I envision…
Vision -
Private wealth accessible to everyone in the world.
Challenges Firo Overcome -
Delisting of privacy coins by central banks, was overcome by increasing need for decentralized exchange moving liquidity to high performing dex platforms.
Slow integration of privacy coins in commerce due to regulation, was overcome by one button click instant dex swaps directly in Firo wallets into BTC/ETH or a select few other mainstream/accepted crypto. Pay in the major crypto you choose and retain your privacy.
Adoption -
FIRE (Financial Independence Retire Early) movement with Private Masternode wealth, live off your monthly rewards as passive income, sustainably and privately.
Driven by BTC whales (anyone with 5+BTC) being targeted IRL through easily accessible onchain analysis crossed with exchange PII data leaks sold on the black market.
Aggressive IRS “wealth tax” to claw back and reign in rampant USD inflation causing a flight of capital into privacy sector.
Price momentum causes a pile on effect, folks wanting to get in “on the ground floor” of the next BTC revolution driven by privacy needs as capital exits unfavorable central planning.
Strong community with engagement and word of mouth encouraging and supporting others and the team with their patience and drive has grown the network and it’s use organically
Use
FIRE passive income through Masternodes
Private wealth storage
Liquid commerce on the go through wallet accessible/private BTC swaps
Motto
FIRE with Firo!
Market
25-50 age group with some wealth to worry about
FIRE community as a private passive income option, will be increasingly viable with mainstream adoption of BTC
Those disillusioned with central banking handling of currency
Those looking for exits from rampant worldwide inflation destroying wealth and savings
That’s all for now, I may update this post as I think up more ideas on use and approach. Would love to hear more from the community and team.
-Kenshin
I’m clearly not Reuben. When you gain some vision and have grown up from internet trolling please come back to the adults table and join the conversation on Firo’s adoption.
what about having a part of the dev award going to the Firo crowdfunding https://zcs.zcoin.io? I think dash has done something like this, with masternodes voting on proposals, I think this has been quite successful.
To be completely honest, the dev fund now is just enough to keep it going. I myself am not drawing a salary to assist. We do have some runway but Firo at 4$ would make me breathe easier.
I do like the ccs and would invite people who are qualified to evaluate proposals to use it more!
I think you guys are doing a great job at stretching the budget. I know how expensive developers are. Maybe this something that can be considered later, when Firo double in value.
The increasing publicity and adoption of BTC is already doing the job of opening the world of cryptocurrency to new minds. .
Run crowdfunding campaigns on platforms which are not readily employed by other crypto projects. If you raise a $ great and if not you raise awareness. You have a great project which addresses the wants and needs of the masses many of whom are simply not yet plugged in to the crypto sphere yet.
I say jump that gap and reach those distant grounds while the soil is fertile, free of competitors as this is where seeds have a chance to grow. Just my 2c
My intent was really to generate community discussion on how Firo could grab people’s interest and attention by having a persona, selling a dream/vision, and solving a problem.
Seeing the recent Ripple SEC lawsuit, how the team positions themselves against marketing initiatives could land them in hot water… so the “envision the future - FIRE with Firo” ideas I laid out up above would need to be community organized and driven.
I’d love to hear other community ideas on how we “sell a dream” to get folks interested with Firo.
I suggest that you process “payments” that don’t use the privacy abilities on a secondary chain (Avalanche subnet) for speed and low cost (confirms in 1 second). The masternodes can become validators of that subnet, earning similar rewards. Keep the mining for privacy transfers and writing blocks (This will be faster as most small payments will be on the subnet).
The subnet chain can then participate in other aspects of crypto like defi, nfts, etc. Low fees, fast, secure by validators and mining.
Then it will become a payment coin that you can spend at 7-11 without waiting.
Shops do not need to worry about volatility as they can automate transfers to fiat 1 second after they receive the payment.
Then, to the moon. (Also, I would use it everyday).
