We need a logical plan of action to bring Firo to the world. I want the community to think big, and think about how we make this happen.
First we need to be able to understand and agree on some basics. Please let me know in the comments if you see logical errors.
- Money is a belief system.
- In order to have value, Firo holders collectively have to believe it has value.
- Higher confidence and belief in Firo translates to increased HODL’ing.
- More HODL’ing translates to less supply in the market.
- Less supply leads to higher Firo values.
- Higher Firo values means increased developmental resources, community confidence, prestige & desirability. (HODL’ing)
- Increased resources accelerates and brings forward development timelines.
- Developmentally driven ‘use cases’ and higher values attracts public attention, and collaborations and grows network size.
- The monetary value of a Firo is limited by the size of its network, and community investment in Firo.
So how do we go about doing the following:
Item 1) Increase User base and the size of the network and the value it stores.
Item 2) Fund development and usability, and accelerate innovation where possible.
Both these items are linked. Improving one, should also improve the other.
How on earth do we actually get this done, the piggy bank is empty right?
Many things can be accomplished without requiring monetary capitol investment. Rather it requires some time and dedication of community members. Development of technical infrastructure on the other hand will however likely require outsourcing if the skills are not present within the community, but as the community grows, so does the skillset.
As money is a belief system, I think its worthwhile to mention how the three basic personalities form beliefs.
Type 1 - These people form beliefs from authoritative sources. This crowd responds to confidence.
Type 2 - This group forms beliefs based on the number of other people that believe something, they are followers and will get onboard once others have. Hence we need to reach a ‘critical mass’.
Type 3 - This is the logic and reason group. The independent type. This group will likely take into account the tech, as well as the traction Firo is getting with type 1 & 2’s. We have the tech, but we don’t have the traction. However a good plan to do that itself, will attract these guys & gals.
So where are we going to get this seed money, to get the ball rolling?
Well it looks like we are about to get a community fund with the tokenomics revision. It also looks like the leading poll options will decrease mining allocation and increase master node allocation. This will incentivize direct investment into Firo itself. Every single new node will reduce available Firo supply by 1000 coins. Assuming worst case that Master node holders selloff 100% of their rewards, it still would take years for the rewards to cancel out their initial price supporting investment. Assuming the Nodes are hodl’ers, and Firo’s price doesn’t skyrocket.
How the community can easily increase the size of the network/community.
1a) Monthly meme competition with prizes and a Discord section for the ‘Meme Hall Of Fame’.
What we need is high quality memes that instantly communicate the problems in the world that Firo solves.
We need a ‘Firo fixes this’ campaign. With this arsenal of memes, it will empower the community to interact on social media, and instead of writing a bunch of boring blah blah blah. We can use humor, and a picture painting a thousand words to communicate our message.
1b) Continue community initiatives like Firo Punks and NFT rewards for community participation.
For type 2 people, just having a lively and active community will attract them, plus it’s good for everyones morale.
1c) The community could begin to try to build some of the easier forms of infrastructure.
For instance, wouldn’t it be great if Firo had a WordPress/blog ‘crypto donate’ widget. In order to attract the most users it should be a multi coin plugin. However Firo must be included as an option.
Alternatively a similar thing to cointr.ee would be helpful. For some reason cointr.ee does not support comments from donators using privacy coins. This puts privacy coins at a social disadvantage. Building infrastructure that acts as a service to the wider crypto community will act as advertising. It would passively but continuously attract new Firo users.
The next items will require heavier lifting to increase the size of the network/community.
2a) The new mobile wallet Campfire could be a great asset to Firo.
Perhaps utilizing the community fund, we could do some great things with it. For instance imagine Campfire was like the edge wallet and supported multiple coins. It could attract a lot of users. When the default wallets are loaded for new users, Firo could be one of the default coins that gets loaded. This could expose a large number of people to Firo, while also giving them a non-KYC option to swap into Firo directly within the wallet. Also a FiroDEX swap option built into the wallet would also be an attractive solution. Then there is Elysium functionality. Private stable coins and NFT’s etc. just seems very attractive to me. I’ve heard criticisms that Firo adding privacy to other coins won’t add value to Firo. I disagree. This kind of ‘use case’ can really raise the profile of Firo. Personally if I didn’t have exposure to Firo, I would want some…
2b) Collaborations
Once Firo begins to get traction and it’s community grows, we become increasingly attractive to other projects. This also exposes Firo to the user bases of other projects.
There are probably many more things we could do, and it would be great if other community members could chime in with their ideas.
My final thoughts are that if we can implement this plan or perhaps a better one. Firo will attract both 1, 2 & 3 Type believers. Society itself would be better for it.