Introduction

Many people think it’s difficult to get into business. However, if you really think about it, everybody has got something to sell, so you should be in business. Right now you’ve got stuff to sell that might seem worthless but someone is willing to pay you for it. There are markets like this for all sorts of things, but they’ve never really been open to you until recently.

One Mans Trash is another Man’s Treasure.

Currently I need a couple of comic book plastic covers and backing boards for some of the comics I’m selling on my Comicbook Store. Each plastic cover is worth R1 and I will pay R1. Each backing board is worth R1 and I will pay R1.
I also need a clip for my weights so that the weights don’t fall off the bar when I use them; I will pay R1 for this.
Then I need a zipper to be reattached on an old bag. I will pay R1 for this.

There’s a whole bunch of seemingly worthless things we need done, but can’t or won’t get it done because it seems worthless. R1 seems worthless but it’s not worthless.

But what if I told you that R1 could be worth R100 in maybe a decade. That changes the thinking doesn’t it, because now collecting all them one rands could be huge. If R1 can maybe turn into R100 over a decade, then R1,000 could turn into R100,000.

1 Cent equals 1 Satoshi

At present 1 Satoshi is currently worth roughly 1.067 ZAR cents. So that means R1 is worth just under 100 Satoshis.

We also know that 17 years ago, Bitcoin was valued at zero, and the Rand was R9.30 to the US Dollar. Bitcoin over that 17 year period went from zero to R1,000,000, but the Rand is now R16.5 to the dollar.

Hal Finney an early developer on Bitcoin did some crude math back in 2009, suggesting that Bitcoin could be worth $10 million at some point. The Powers Laws model indicate that a bitcoin could be worth $1 million by 2029.

So accruing R1 or more accurately accruing 100 Satoshis makes sense. Stack SATs!

So the question becomes, what can you sell for R1(100 Satoshis)? Can you even do this? and who do you sell to? But before we get there.

A Quick Note

1 Rand = 100 Satoshis
1 Bitcoin = 100,000,000 Satoshis

Why can’t you buy anything for R1 anymore

This is a complex topic, but not complicated. The last time the rand was equal to the dollar was back in the 1960s, and you could buy a whole lot more for R1 back then. Since then the rand has devalued and it’s devaluing faster at an accelerating rate to where now it’s R16.5 to the dollar.

James Caw does a brilliant job of explaining the subtleties behind this; you can read his article here. I’ll give my simplified version below.

The Country of Landia and it’s one product and one currency note

Let’s say you’ve got a hypothetical country Landia, and in Landia they only have one product called widget and one paper note of currency called L1. That then means the one widget costs L1(one currency note).

Scenario 1

Now if the people of Landia work really hard and increase productivity, they can make two widgets. That means L1(one currency note) can now buy 2 widgets! Incredible! Prices just got cheaper.

Scenario 2
Let’s try something else, instead of increasing productivity, lets print more currency so that instead of one note of currency (L1) we get two notes of currency(L2).
The government photocopies the one currency note, and now there’s more money around, but the number of items hasn’t changed. Therefore that item(one widget ) now costs 2L. People of Landia feel richer because there’s more money, buy everything is more expensive. That’s why you can’t buy anything for R1 anymore. Countries now print currency like crazy. Here’s the chart for South Africas monetary supply. There has been an accelerating print of money.

Because of Bitcoins mechanics and code, it can not be printed infinitely. You can not make anymore Bitcoin. It’s capped at 21 million Bitcoin. It’s like gold in that regard. So while you can make more of everything else, you can’t make more Bitcoin. So in future, you theoretically should be able to buy more and more, with less and less Bitcoin.
Stack Sats and Bring on the R1 economy!

What to Sell

Here’s a ridiculously simple example of a R1(100 Sats) transaction. Pay R1(100Sats) below to see some South African goodness and as a Ballistic Bonus you’ll uncover the Greatest piece of Bitcoin information I’ve ever heard.

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💥Uncover the Mystery Content❗💥

Pay 100SATs now to reveal Incredible Knowledge! 👇

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What to sell? You can sell whatever you want? A nail, a pencil, a greeting card, a shirt button, a shoelace, a pin, a thimble, etc.

Right now I want all of my old tech repaired. I want to buy a tablespoon of Broccoli Sprout seeds, I want all my old zippers repaired or replace. I need a another resistance band or my current one fixed. There’s tons of little things I need done that I’ll pay a tiny price for. Bitcoin enables these microtransactions, and when you sell one thing it means you can sell a whole lot more.

Who do you sell to

Right now I’m thinking in terms of Local and National.

Local

The great thing about selling local is you just need an product or service to sell and a Bitcoin Lightning wallet. That’s it. You can sell something at a farmers markets or on your community WhatsApp group, or community center.

National

If you’re selling across South Africa, then you’re going to need to a delivery solution. And luckily delivery services have cropped up that allow you to deliver goods nationwide with a price anywhere between R10 to R89 for medium size items that fit in a grocery bag. That’s pretty cheap! Now obviously you’ll need to make the math work to be profitable. But its doable.

You can sell any item for R1 and deliver around the country for potentially R10. So you’ll need to sell at least ten items for R10 to break even. That means that basically everyone in South Africa is your customer; so the answer to the question “Who do you sell to?”. The answer is Every South African.

Conclusion

We’ve got a huge unemployment issue in this country. Bitcoin and technology in general offers a practical sound way of getting people earning money. And the money could 100x over the nest decade, but most likely 10x over the decade. Bitcoin makes everyone a business person, so it’s a question of what are you going to build, sell, service to kick start the whole thing.

Photo by micheile henderson on Unsplash