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Offline bitmarket

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Important: There is nothing official about this post.  I have not spoken to anyone about it yet. Just an idea I would like to get feedback on.

The following is an idea to:
  • Increase bitshares revenues immediately.
  • Create an army of rabid fans that are paid to promote bitshares
  • Pay those fans from fees and not by dilution and only after they have created value for bitshares.
  • Eliminate the need to pay any marketing delegates through dilution.
  • Create massive incentives for organizations and companies to begin using bitassets with their employees, customers and partners,
  • Create massive incentives for people to run bitshares meetups.
  • Create a model for all bitshares chains to automate their marketing, and
  • Allow bitshares to be the only blockchain that pays its users directly through the blockchain for growing the user base.

The idea:
Allow bitshares fees to be shared with the person who introduced the user that paid the fees. Possibly allow the sharing of those fees for several generations or tiers.

Details (from someone who can’t code and has no idea if this is feasible)(All figures used are just place holders and should be thought out more):  The blockchain already records all registered users by recording a TITAN name for each user. What if it recorded 2 more pieces of information.
1.   The status of the account, and
2.   The TITAN name of the introducer/referrer.

An account may have one of 2 states. A non income earner state/status. This is the current status that we all know and love. Or An income earner status.  For a fee of 20bitUSD a user may upgrade to this status, which enables them to earn a share in the Fees paid by anyone they introduce for the next say 20 years. This includes the 20 bitUSD fees for upgrading status.

For a simple example lets say all fees are shared 20% to the bitshares network, 50% to first upline who is earner status and 30% to the next upline of earner status. When a user (John) makes a transaction, lets say he pays 20bitUSD for earner status here is what happens.
1.The Bitshares network takes 4bitUSD and converts it to bitshares and burns them. (Yay us, we are reversing our dilution or said another way we re creating income for the DAC)
2. John’s introducer is looked up. John’s introducer is Mary. Mary has not paid the 20bitUSD to become an income earner status and so the network looks for Mary’s introducer. Mary’s introducer is Jane and Jane has paid the 20 bitUSD fee and does have income earner Status.  She will receive 10bitUSD (50% of the 20).   
3.Hopefully you guys can figure out how the remaining 6bitUSD is distributed. If no one in Jane’s upline has paid the $20 then the network gets it and burns as above.

There are lots of different combinations of tiers/percentages/payouts that could take place.  That is for us to discuss later but the point is that we have achieved the worlds first self marketing DAC. No elections and No dilutions necessary. And only performers get paid. No guessing who will produce like the delegate model.

Consider some use cases.

1.   Anyone hosting a meetup now has a revenue model and an advertising budget to grow their meetup.
2.   Someone may be incentivized to hand out paper wallets loaded with several dollars on it. The QR code contains their TITAN referrer name and when someone scans the QR code to receive the funds the referrer is automatically populated.
3.   Brochure printers are incentivized to print and handout brochures with a referrer code on it.
4.   A factory owner in say China says to his workers…. From now on I am paying you all in bitCNY.  I have purchased a bitshres ATM and placed it in the lobby so everyone can redeem their pay for cash when ever they want. The factory owner makes money on the ATM spreads, and the fees generated by his employees for 20 years, but that that will take too long.  He holds a meeting for his employees and explains the Earner status option. His profits from the signups pay for the ATM in the first week and he now has an army of employees who are out introducing bitshares to local merchants so they can spend their wages their and so they can earn commissions.
5.   This will get the attention of every person in Crypto.
6.   Have a twitter list? Email list? Facebook friends?  Big pay day on your horizon.

One of the best things about this idea for me is people are incentivized to sit with someone, explain it to them, set them up with an account and be there first bridge. 
For example: I meet my friend for lunch. I tell them about this cool new money/payment network.  I show them the app.  I say here. Let me show you how easy it is.  I will send you 50 cents. We download the app together and set them up with a TITAN address. I want to be involved in this process so I can make sure I am the referrer. I say now you try it and send me 40 cents back. They try. They love it. I explain you can send any amount of money anywhere in their world and it is that fast and that simple.  They say Wow this is the Future. (this has happened to me 3 times since the light wallet has been live btw.)   I say, well you know you can make money with this thing, just by introducing people like I just did you.  Because I introduced you, I am going to get paid a fraction of a penny every time you use this app for the next 20 years.  With enough people it adds up real fast. In fact if you introduce people to this, I get paid on that as well. I have hundreds of people introducing this to other people for me right now… And I get paid on all of it. (Insert 5 minutes of questions of answers) My friend says I want to be an earner.  I say It is simple. It only costs $20. You give me the 20 now and I will pay your fee for you and you will be an earner. In fact give me another 20 and I will send you 20bitUSD so you have some funds to by stuff.  Plus I will show you to a few websites where you can purchase stuff with it or just hold it and earn interest what ever you like.

That is a powerful conversation.

MLM groups will be all over this like white on rice.  In fact I already know of one who would get behind it right now if it were built.

So community is it a good idea? Tech crew is it possible? An answer in the affirmative will not be seen as an endorsement.

Thoughts/feedback/criticisms welcome
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Offline fav

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 +5% +5% +5% if it's possible to implement. An integrated affiliate program is an awesome idea, however, just a simple 1 tier system is more than enough. Also I don't like the paid upgrade idea. keep it simple and rewarding.

edit: they could utilize the current referral model. I'm sure they're keeping track of registered TITANs and Referral IDs

Offline bitmarket

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+5% +5% +5% if it's possible to implement. An integrated affiliate program is an awesome idea, however, just a simple 1 tier system is more than enough. Also I don't like the paid upgrade idea. keep it simple and rewarding.

edit: they could utilize the current referral model. I'm sure they're keeping track of registered TITANs and Referral IDs

I think both the paid upgrade and the multi-tier makes it sexy enough to act on now. Someone holding a meetup can make $50 a week.   But without those two elements you will make some pennies over a long time.  It is not motiviating.  Its a nice to have for people that were already excited about bitshares. Paid upgrades and multi tiers make it a business that people can work to retire on in 6 months if they hustle. That brings in serious marketers.
« Last Edit: March 26, 2015, 01:25:59 PM by bitmarket »
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Offline fav

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+5% +5% +5% if it's possible to implement. An integrated affiliate program is an awesome idea, however, just a simple 1 tier system is more than enough. Also I don't like the paid upgrade idea. keep it simple and rewarding.

edit: they could utilize the current referral model. I'm sure they're keeping track of registered TITANs and Referral IDs

I think both the paid upgrade and the multi-tier makes it sexy enough to act on now. Someone holding a meetup can make $50 a week.   But without those two elements you will make some pennies over a long time.  It is not motiviating.  Its a nice to have for people that were already excited about bitshares. Paid upgrades and multi tiers make it a business that people can work to retire on in 6 months if they hustle. That brings in series marketers.

hm... you're absolutely right. This could be a game changer :)

Offline btswildpig

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Sounds perfect .

In the end , revenue matters more than dilution . In fact , we should go out of our ways to increase revenue for the system .

With that in mind , I would propose a "whole sale " idea .

Now the fee for 5 digit name asset is 0.5 million BTS . It can generate significant income for the system , but it takes months to even find one to purchase it .

However , we do know these short name assets would be needed in the future . So .

What if , the system can do a whole sale with like "0.35 million BTS / per 5 digit asset if you purchase 10 such assets at once " , then you pay 3.5 million for 10 "asset token for short names " , and if you hold such a token ,you can sell it cheaper to those who don't want to pay 0.5 million BTS for an asset name .

When an short name asset is about to registered , the system can charge 0.5 million BTS or a "asset token for short names" . So that makes this token some sort of "coupon' of the system  .
« Last Edit: March 26, 2015, 01:34:26 PM by btswildpig »
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Offline carpet ride

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This is a game changer!


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Offline matt608

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I proposed this in November - generating referral link from within the client.   Earn (part of) the fees of whoever signs up via your link. 


Offline lil_jay890

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Love this idea! Affiliate marketing can be a very powerful tool, and just looking around the internet you can see people will sell almost anything as long as they get the referral commission.

As far as implementing this though... Would this be something we want before 1.0 or maybe a version afterwards?

Offline xeroc

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I don't like to be pessimistic about this, but the bigger goal of a DAC is to be profitable for shareholders. With this change you either need to raise the transaction fee or accept higher delution (because less fees are burned)
However, I see this make sense if it was a timely limited action or there was some kind of mechanism that allows users to opt-out for 2xtransaction fee ..

Anyway, I like this idea, and I thing there is a old thread about something similar somewhere in the forums.

Edit: ignore my post. I missunderatood the OP!
« Last Edit: March 26, 2015, 02:08:31 PM by xeroc ¯\_(ツ)_/¯ »
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Offline joele

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MLM is awesome.
However the $20 upgrade is not MLM but a pyramiding.

I prefer no $20 upgrade, all users can refer and make commission from their referral's transaction fees for a lifetime.

Offline Globally Distributed

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I don't like to be pessimistic about this, but the bigger goal of a DAC is to be profitable for shareholders. With this change you either need to raise the transaction fee or accept higher delution (because less fees are burned)
However, I see this make sense if it was a timely limited action or there was some kind of mechanism that allows users to opt-out for 2xtransaction fee ..

Anyway, I like this idea, and I thing there is a old thread about something similar somewhere in the forums.

Can you elaborate?  I can't see how this requires us to raise transaction fees ... how are less fees burned?  It would require a new mechanism to pay the $20 out to the network, upline 1 and upline 2, but we would still take the 0.5 bts fee on each $20 sign up.
"People don't buy what you do, they buy why you do it."  https://www.youtube.com/watch?v=u4ZoJKF_VuA

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Offline davidpbrown

 +5%

It's a good idea but elements of it could be mistaken as being close to pyramid/ponzi, where the promoter is considered to suck value from the fresh blood. New users might resent being bound for 20 years? If the fee was not within the usual transaction fee, they might feel they were being scammed and just create a new wallet to bypass the overhead?

I would be tempted to limit it to something significant to the promoter and trivia to the new user - 20% of the fees for a year.. or better the cost should come out of what the transaction fee would be anyway; so the delegates lose out and pay the promoter; that lower payment would encourage promoters to find really valuable new accounts.

So, the cost of this should come from what delegates are willing to pay promoters - and not from the new users. 20 years loss in fees seems like a lot.. I guess the advantage is it binds those people in but the period could be shorter for that too. My instinct is to avoid complexity and long term binding commitments that you might regret later for reasons that might include that the balance of those payments are considered off target relative to their real value.

It's certainly a good idea to push marketing's focus towards real actual change in the userbase and avoid the payments through dilution. The only worry might be that real useful PR and marketing that cannot claim the benefits might miss out but if those involved are rewards in other ways, perhaps they won't mind?

So, that is: pay from the transaction fee and not any overhead on new users; avoid the pyramid sharing of those fees for several generations or tiers; and pay a short term burst of real reward, rather than a long term commitment.  +5%
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Offline xeroc

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I don't like to be pessimistic about this, but the bigger goal of a DAC is to be profitable for shareholders. With this change you either need to raise the transaction fee or accept higher delution (because less fees are burned)
However, I see this make sense if it was a timely limited action or there was some kind of mechanism that allows users to opt-out for 2xtransaction fee ..

Anyway, I like this idea, and I thing there is a old thread about something similar somewhere in the forums.

Can you elaborate?  I can't see how this requires us to raise transaction fees ... how are less fees burned?  It would require a new mechanism to pay the $20 out to the network, upline 1 and upline 2, but we would still take the 0.5 bts fee on each $20 sign up.
ignore my post. I missunderstood the OP!
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