Author Topic: NXTTY Marketing Strategy - Android Drop  (Read 7644 times)

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Offline CLains

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You are right. Traditional companies have over DACs that they can intentionally take a hard short term hit. DACs on the other hand will lose investors the moment hard times begin. Share issuance divides the cost among every stakeholder now, but there is not yet any agreed upon method to divide cost among DAC stakeholders across time. Losing 7/8ths of their value NXTTY may be unable to recover at this point.

Never say never, but it looks gloomy for NXTTY.


Offline Empirical1.1

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Just as a playful aside: What do you think would happen if we launched a BTS fork called bitGOLD, with one asset called bitGLD, which diluted bitGOLD 100% over the next year to pay yield to bitGLD holders? What if dilution of bitGOLD depended on total value of all bitGLD, or on external value of bitGOLD itself?

Playing with these concepts is like playing with atomic nuclear physics in 1941.

1. Sounds exactly like NuBits. Guaranteed yield is not much different than guaranteed interest rate to enforce a peg.

2. Goldbugs want to hold gold - they don't want to play with derivatives.  bitGLD is for traders and hedgers who are already involved in crypto.  There's not much of a market for new users who will be brought in through bitGLD, its useful mainly for users already in the system.

At the moment the BitGLD you describe would seem very ponzi-ish. Though as this space develops, techniques like that may have merit. (Probably not for the gold/silver market but maybe for a BitUSD.) As someone who tried holding some BitGold and would potentially hold a lot, the thing I'm most interested in, is security. A secure, robust blockchain backed by a healthy share system, perhaps with an offline signing thing. My concern as a potential BitGold holder with the new BTS is that even though they have devshares for testing, the blockchain could have a lot of moving parts and require a lot of maintenance and development. So I'd be worried about something going wrong in the next year, vs. other options.

Also for you example of a BitGLD specific blockchain, I'm not sure of the consequences. Like if Gold has a sudden/sustained upwards revaluation are enough people going to want to short it vs. holding it. 

The nice thing about BTS DPOS though is whatever sharedrop strategy they use, it doesn't have to start huge, you have a lot of flexibility to turn it up and down depending on results provided you don't commit to too much initially.

Edit: looked at the PayPal case study again. The situation there was that 'there were people willing to finance such risks because of the potential returns' so it looks like it was a serious short term burden and drain on PayPal too. Applied to decentralised crypto-equities, nobody wants to be holding the bag short term while this process happens, hence why share-drops crush price. (Which is what you really don't want to happen.) If somehow AGS had set aside money to fund it, that would be different. As it stands I think you have to be very prudent with Share drops and closely monitor them. I also think the platform is already there for BitAssets to spread fast once they're consumer friendly.


« Last Edit: November 19, 2014, 02:52:48 pm by Empirical1.1 »

Offline xh3

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+5%  I love all these experiments. :D

Offline sschechter

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Just as a playful aside: What do you think would happen if we launched a BTS fork called bitGOLD, with one asset called bitGLD, which diluted bitGOLD 100% over the next year to pay yield to bitGLD holders? What if dilution of bitGOLD depended on total value of all bitGLD, or on external value of bitGOLD itself?

Playing with these concepts is like playing with atomic nuclear physics in 1941.

1. Sounds exactly like NuBits. Guaranteed yield is not much different than guaranteed interest rate to enforce a peg.

2. Goldbugs want to hold gold - they don't want to play with derivatives.  bitGLD is for traders and hedgers who are already involved in crypto.  There's not much of a market for new users who will be brought in through bitGLD, its useful mainly for users already in the system.

BTSX: sschechter
PTS: PvBUyPrDRkJLVXZfvWjdudRtQgv1Fcy5Qe

Offline Empirical1.1

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I am more divided. I saw Auroracoin etc. first hand and eventually developed the intuition that indeed, most share drops are just giving away money and crashing their own value. But then again, it is the most straightforward way to attract customers, it worked for PayPal, and seems to work for poker sites..

There has to be some way to do this right, and crypto allows us far more interesting options than has ever existed in the history of viral marketing. Our elements are VOTE (ID), YEILD, CASH-BACK, REFERRAL. There must be some ingenious way to combine these elements to launch the most successful marketing ploy ever.

Just as a playful aside: What do you think would happen if we launched a BTS fork called bitGOLD, with one asset called bitGLD, which diluted bitGOLD 100% over the next year to pay yield to bitGLD holders? What if dilution of bitGOLD depended on total value of all bitGLD, or on external value of bitGOLD itself?

Playing with these concepts is like playing with atomic nuclear physics in 1941.

That's the beautiful thing, you don't have to devise a viral marketing campaign, only a campaign to get it into a few key targettable markets.

Bitcoin wastes a $1 million a day+. It has no marketing budget yet it's probably been featured 10+ times on every major news channel in the world. Central banks & Governments discuss them, the majority of my friends are familiar with it, even though <10% use it. They have achieved about pretty close to their current maximum available penetration in most Western markets. If the financial situation deteriorates and there is not a credible Bitcoin successor, then Bitcoin will explode.
For a flawed, centralised, highly inflationary crypto-currency worth < $10 Billion, it's an amazing position to be in.

The mistake I see some people make is that they think POW initially functioned as a fantastic viral marketing strategy that needs to be replicated. A limited digital currency would have sold itelf, the only problem it solved was how to decentralise it initially. PTS did a pretty good job of that. For me it's more about the development side and utility. Except for small targeted marketing campaigns (which don't necessarily need to involve Sharedrops) focused on area where the need for BitAssets is highest, well developed, consumer friendly BitAssets will sell themselves.

That group of users, media interest and infrastructure Bitcoin has helped build is now available to BTSX. If BTSX got to no.2 and BitAssets were consumer friendly (they're not yet) and had some utility they would viral market themselves. Think Bitcoin is newsworthy, BitUSD & other BitAssets are doubly so. So consumer friendly, decentralised & robust BitAssets with some utility plus no.2 spot in this market is all you need for marketing.

Unlike Bitcoin which has limited appeal except for 10% of our friends, BitShares would have a much wider market. You can see our 1000+ strong community would gift and explain BitAssets to 10+ each of our friends of they were mainstream ready https://bitsharestalk.org/index.php?topic=9658.msg125491#msg125491 If we got to no.2 our community of volunteer marketers would increase 10 fold.

Also psychologically the power of the idea of a no inflation, profitable blockchain trumps any marketing value you gain from a diluted blockchain. Also from the POV of a mainstream BitAsset holder, they will psychologically be very sceptical of digital tokens backing anything, so a no inflation blockchain has extreme marketing power there too vs. a competitor.

The example you quoted above, Ribbit is new, unknown & so may benefit from an airdrop strategy, though 90%+  have failed. (Why would you want to hold/buy while others, often multi-accounting are cashing in free shares?)
« Last Edit: November 19, 2014, 12:07:15 pm by Empirical1.1 »

Offline CLains

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I am more divided. I saw Auroracoin etc. first hand and eventually developed the intuition that indeed, most share drops are just giving away money and crashing their own value. But then again, it is the most straightforward way to attract customers, it worked for PayPal, and seems to work for poker sites..

There has to be some way to do this right, and crypto allows us far more interesting options than has ever existed in the history of viral marketing. Our elements are VOTE (ID), YEILD, CASH-BACK, REFERRAL. There must be some ingenious way to combine these elements to launch the most successful marketing ploy ever.

Just as a playful aside: What do you think would happen if we launched a BTS fork called bitGOLD, with one asset called bitGLD, which diluted bitGOLD 100% over the next year to pay yield to bitGLD holders? What if dilution of bitGOLD depended on total value of all bitGLD, or on external value of bitGOLD itself?

Playing with these concepts is like playing with atomic nuclear physics in 1941.

Offline Empirical1.1

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Ribbit are doing the same thing, currently they are giving away 10$ worth of awards to each new signup:

https://ribbit.me/ - 1000 signups so far. Another experiment playing out..

Interesting, worth paying attention too.

I've made no secret of the fact that I'm obviously in the sceptic camp for most of these things. I've made a respectable living as a poker player for >6 years. Understanding and exploiting psychological tendencies is my job. For me the psychological impact and consequent results of dilution as well as the majority of airdrop strategies I've seen to date is frustratingly and painfully predictable.




Offline CLains

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Ribbit are doing the same thing, currently they are giving away 10$ worth of awards to each new signup:

https://ribbit.me/ - 1000 signups so far. Another experiment playing out..

Offline Empirical1.1

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Wow Crypto-Sharedrops like this delivered more losses again, Who'da thunk it  :P Looks like they're stabilising though.

Edit: It looks like an interesting/good product though, hmm I might look into it more & how their business model works.

Edit: Ok had brief look. I like the product at least, there's definitely a market for that. Pity about the sharedrop crushing it, would have been worth so much more. Also I think most are waiting for an update to 1.04 to get their free coins and many users are multi-accounts as expected. (Also like most share drops in this space it's pretty pointless, if the products good and ready for mainstream the crypto-community would spread it pretty quick.) If that's the case I'll wait till that's over but then I may consider buying some, thanks for bringing it to my attention.


If we had a BitUSD specific mobile wallet we could airdrop BitUSD on Argentinean area codes. Any country where demand for real USD is high and supply is low.

You can potentially target people that already use existing Bitcoin exchanges there. They'll be the early adopters of a digital dollar derivative who will also be capable of explaining it to friends and family. You can potentially physically approach USD traders/exchangers on the Main trading Streets in Buenos Aires, give them $50 BitUSD and show them how to use it and get it into their system that way but dropping by postcode would be a waste imo.

« Last Edit: November 18, 2014, 03:01:17 am by Empirical1.1 »

Offline Gentso1

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Seems like this is caused by NXTTY (drop started 26th there)



But price decreased as the drop progressed. If it bottoms out we might see an interesting tide-change..


This is a great case study
Thanks for the charts

Offline CLains

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Seems like this is caused by NXTTY (drop started 26th there)



But price decreased as the drop progressed. If it bottoms out we might see an interesting tide-change..

« Last Edit: November 17, 2014, 12:17:30 am by CLains »

Offline CLains

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Yeah, NXTTY is a ridiculous name. Strange how their marketing guys haven't changed it, maybe now it is too late. They got their app on google play now, and doing press releases: http://www.prnewswire.ae/news-releases/?url=the-launch-of-nxtty-crypto-messenger-280501452

Offline jsidhu

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The thing that kept me from even checking them out was the god aweful names... Next coin? Really?
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Offline Vizzini

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Well, then, good for NX Titty. Don't tell me I'm the only one who reads it that way. I'm not trying to make it into a joke. But when I see "NXTTY", I think "NX Titty".

« Last Edit: October 28, 2014, 03:22:19 am by Vizzini »
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