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Offline xeroc

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BitShares 2.0 Technologies
Referral Rewards Program



Rapidly grow network effect by incentivising mass adoption
BitShares has an advanced referral program built into the software. Financial networks derive their value mostly from their network effect. The more people that use the same network the more value that network has to the users. BitShares rewards those who sign up new users that actually use the network and does so in a fully transparent and automated way.

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« Last Edit: June 08, 2015, 06:31:59 PM by xeroc ¯\_(ツ)_/¯ »
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu

Offline xeroc

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #1 on: June 08, 2015, 09:25:52 PM »
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu

Offline fav

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #2 on: June 08, 2015, 09:58:33 PM »
I hope there will be a short tutorial on how to use the program :)

Also,

1. https://wallet.bitshares.org/#/unlockwallet?r=fav-marketing would this be the correct link for webwallet?

2. the internal webwallet should give some hints in regards to naming. just tried it and the faucet gave me a "only cheap names can be registered please choose another one" - BUT the webwallet wouldn't let me add another one until the first is registered.

And 3.
What about current referrals? Will they be transferred?

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #3 on: June 09, 2015, 03:40:23 AM »
What this is missing is an incentive system for market makers.

Offline onceuponatime

Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #4 on: June 09, 2015, 03:54:47 AM »
My concern is that I think that the referral program should not be open-ended. There could be a fixed period of time set for it to operate to generate viral growth (which could be extended if necessary).

Then should come a point at which BitShares will grow on its own merits as the best system available (ie., once there is a critical mass of users), and then ALL of the transaction fees should go to the blockchain (be burned) to grow the value of our investments. After all, the DAC is meant to be profitable for the shareholders, not just for marketers (referrers), especially after they are no longer needed.

For example, I don't think that anyone is still be paid to refer new users to paypal, are they?

Online Shentist

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #5 on: June 09, 2015, 05:16:44 AM »
My concern is that I think that the referral program should not be open-ended. There could be a fixed period of time set for it to operate to generate viral growth (which could be extended if necessary).

Then should come a point at which BitShares will grow on its own merits as the best system available (ie., once there is a critical mass of users), and then ALL of the transaction fees should go to the blockchain (be burned) to grow the value of our investments. After all, the DAC is meant to be profitable for the shareholders, not just for marketers (referrers), especially after they are no longer needed.

For example, I don't think that anyone is still be paid to refer new users to paypal, are they?

they allocation of the fees of 80/20 can by vote in the future change, so it would be possible to vote 0/100 or maybe introduce burning as a 3rd option as well. In the beginning 80/20/0 (referal/network/burning) later we could vote for something like (0/10/90)

Offline fav

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #6 on: June 09, 2015, 08:29:11 AM »
My concern is that I think that the referral program should not be open-ended.

It has to be in my opinion. if we want professional marketers to devote time and money to this, they need at least a guaranteed income stream.

Anyways, I'd support a 60/20/20 proposal.

Offline EstefanTT

Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #7 on: June 09, 2015, 09:30:58 AM »
I'm worried the high fees for free account may slow mass adoption.

One of the great hings that bring crypto currency is the ability to make fast and almost free small transactions.

How someone could even consider pay 0,20$ fee when bying his coffee or a small subscription on the web ?

On the other side, I support 100% the referral concept.
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Offline xeroc

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #8 on: June 09, 2015, 09:58:45 AM »
For those that missed the point ... the tx fee for base accounts is defined by shareholder approval .. if you don't like it .. vote for delegates that have a smaller fee
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Offline Permie

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #10 on: June 09, 2015, 10:44:23 AM »
What this is missing is an incentive system for market makers.
+5%

How could shareholders wanting to provide liquidity to the DEX pool their funds together?
Perhaps a worker proposal for a market maker in each asset pair would get funded.
The profits could be shared between shareholders and the worker making the market with shareholder funds
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Offline Method-X

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #11 on: June 09, 2015, 01:51:02 PM »
My concern is that I think that the referral program should not be open-ended. There could be a fixed period of time set for it to operate to generate viral growth (which could be extended if necessary).

Then should come a point at which BitShares will grow on its own merits as the best system available (ie., once there is a critical mass of users), and then ALL of the transaction fees should go to the blockchain (be burned) to grow the value of our investments. After all, the DAC is meant to be profitable for the shareholders, not just for marketers (referrers), especially after they are no longer needed.

For example, I don't think that anyone is still be paid to refer new users to paypal, are they?

Referrals create demand for BTS. Demand means an increasing market cap. We don't have to be the most profitable DAC, only the most viral.

Offline carpet ride

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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #12 on: June 09, 2015, 02:24:31 PM »
So merchants and marketers know they're using it right,  would be great to have referral system info graphix showing potential use cases for businesses.


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Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #13 on: June 09, 2015, 02:34:16 PM »
I think the $0.20 referal fee is fine.  The fee should be partially reimbursed by wallet providers.  It will create competition between wallet providers to either be a discount basic wallet and offer most of their collected fee back to customers or be a premium wallet that charges more for advanced features (good trading interface or more bells and whistles).

Also $0.20 buying power will go down with the constant inflation that the USD sees... It won't mean nearly as much in 10 years as it does now.

Offline jcalfee1

Re: [BitShares 2.0 Technologies] Referral Rewards Program (Discussion)
« Reply #14 on: June 09, 2015, 04:01:09 PM »

2. the internal webwallet should give some hints in regards to naming. just tried it and the faucet gave me a "only cheap names can be registered please choose another one" - BUT the webwallet wouldn't let me add another one until the first is registered.

https://github.com/bitshares/BitShares-JS/issues/89

 

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