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Offline gamey

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Demographics to approach for Bitshares X.
« on: August 05, 2014, 08:16:13 PM »


Ok so I was wondering about demographics that would be key to the success of Bitshares X.  I can think of 3 broad categories.  There will be some overlap between them, but these are my thoughts.

1) Day traders and traders in general.  These aren't guys that will sit on BTSX and wait for it to appreciate.  These are the people that are needed for this grand experiment work.  There has to be countless forums etc where active traders congregate.  From FOREX to traditional stock exchanges.  The idea would be to get a few people started with hopefully smaller amounts.  If they talk more about using it, then the more it will row.  These are not crypto people or those who have an strong distrust in USD.  These are guys already playing a similar game and we want to migrate them to Bitshares X.  It will take baby steps, but this is by far the most important demographic in my mind.

2) People who distrust USD and wish for a hedge.  The main problem I see is that these people also do not trust crypto.  They're also preparing for the end of the world type scenarios, so this makes the distrust even more strong as BTSX relies on a functional internet.  I do think there is some ground that could be had.  These people don't trust the US government so TITAN can be pushed as a feature.

3) Crypto people.  I think these are the people we'll get by default with the current marketing (at least what I am aware of).  It will be basically people we take from BTC or NXT, etc.

Any others ?

Also, this is a bit of a read but it is an interesting case with a lot to be learned.   http://www.nytimes.com/2001/02/25/magazine/jonathan-lebed-s-extracurricular-activities.html
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Offline tonyk

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Re: Demographics to approach for Bitshares X.
« Reply #1 on: August 05, 2014, 08:22:24 PM »
Any business that can see how accepting bitUSD is beneficial (compared to both BTC and USD).

[edit] Overstock will be great leading the way.
« Last Edit: August 05, 2014, 08:25:02 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline gamey

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Re: Demographics to approach for Bitshares X.
« Reply #2 on: August 05, 2014, 09:55:46 PM »
Any business that can see how accepting bitUSD is beneficial (compared to both BTC and USD).

[edit] Overstock will be great leading the way.

So #4 )Businesses that will adopt bitUSD or BTSX as payment.  There is also the sub-demographic of people serving a consultant/integrator role.
That will be a hard sale without more widespread adoption, but at some point would be very key.  Someone running a crypto-market might see the usefulness of BTSX before others, much like what happened with BTC.  :o
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Offline xeroc

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Re: Demographics to approach for Bitshares X.
« Reply #3 on: August 05, 2014, 10:00:33 PM »
5) people/companies that want to manage their own stock/shares on a blockchain

6) all merchants that already accept FIAT and see the future in blockchain tech
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Offline luckybit

Re: Demographics to approach for Bitshares X.
« Reply #4 on: August 06, 2014, 06:25:48 AM »
Do market research. Use surveys. The data will reveal whether or not a marketing campaign is effective. It shouldn't be left up to opinion.

We should be tracking Google search trends for Bitshares for starters.
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Offline valtr

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Re: Demographics to approach for Bitshares X.
« Reply #5 on: August 06, 2014, 07:33:29 AM »
Any business that can see how accepting bitUSD is beneficial (compared to both BTC and USD).

[edit] Overstock will be great leading the way.

So #4 )Businesses that will adopt bitUSD or BTSX as payment.  There is also the sub-demographic of people serving a consultant/integrator role.
That will be a hard sale without more widespread adoption, but at some point would be very key.  Someone running a crypto-market might see the usefulness of BTSX before others, much like what happened with BTC.  :o
That will depend on fees and exchange rate bitUSD/USD. If online shops will be able to quote prise in bitUSD/USD 1:1 profitably, that should be attractive for the business. 

Offline xeroc

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Re: Demographics to approach for Bitshares X.
« Reply #6 on: August 06, 2014, 08:05:38 AM »
Do market research. Use surveys. The data will reveal whether or not a marketing campaign is effective. It shouldn't be left up to opinion.

We should be tracking Google search trends for Bitshares for starters.
+5%

but how to get them all to fill a survey? Chicken & Egg issue here?
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Offline gamey

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Re: Demographics to approach for Bitshares X.
« Reply #7 on: August 06, 2014, 08:22:50 AM »
Luckybit if you want to tell us a bit more how you would use Google search research I am all ears.  There are almost always better ways to do things with more resources.  People tend to see marketing with what they have had luck with in the past.  I'm not sure that will work with Bitshares X.  It is a concept that needs to be sold more than a product.  I don't even know what keywords would drive adoption.  Most things sold via google are things people already know they want.  That will have different approach than what Bitshares X requires.

My goal would be more along the lines of education and awareness.  That is hard to do via google.

My goal here is just to make a list of places we could target.  Specifically, types of online communities.  Some in the list will not be targetable as much as others.  Some will have far more value than others.  I'm not a marketer etc, but over the years I've come to understand things a bit.  I would have liked to have tried the friendsofbitshares thing earlier so the effectiveness could have been separated from the scarcity leading up to the AGS end, but thats done with.  And it wasn't just the F.O.B. account, it was all the people who helped.  They know who they are and everyone contributed a ton.  Thank YOU!

I suspect a similar thing could be done elsewhere with even more effort and better results.  :)

First though I would like to see people help brainstorm with a list of demographics, then we break down the list, prioritize it, etc.
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Offline luckybit

Re: Demographics to approach for Bitshares X.
« Reply #8 on: August 06, 2014, 10:07:53 AM »
Do market research. Use surveys. The data will reveal whether or not a marketing campaign is effective. It shouldn't be left up to opinion.

We should be tracking Google search trends for Bitshares for starters.
+5%

but how to get them all to fill a survey? Chicken & Egg issue here?

DACs can pay them to provide information. Statistic information for example and survey data.
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Offline mf-tzo

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Re: Demographics to approach for Bitshares X.
« Reply #9 on: August 06, 2014, 10:43:24 AM »
Not sure if someone has already mentioned this but an idea is to tackle Universities, students and professors across the world.

from unis websites, derive the email address of professors and students, make a list and send them the teasers..

In order to quickly derive all these emails and complete the list, make bounties so forum members can help...

Offline luckybit

Re: Demographics to approach for Bitshares X.
« Reply #10 on: August 06, 2014, 02:36:04 PM »
Luckybit if you want to tell us a bit more how you would use Google search research I am all ears.  There are almost always better ways to do things with more resources.  People tend to see marketing with what they have had luck with in the past.  I'm not sure that will work with Bitshares X.  It is a concept that needs to be sold more than a product.  I don't even know what keywords would drive adoption.  Most things sold via google are things people already know they want.  That will have different approach than what Bitshares X requires.

My goal would be more along the lines of education and awareness.  That is hard to do via google.

My goal here is just to make a list of places we could target.  Specifically, types of online communities.  Some in the list will not be targetable as much as others.  Some will have far more value than others.  I'm not a marketer etc, but over the years I've come to understand things a bit.  I would have liked to have tried the friendsofbitshares thing earlier so the effectiveness could have been separated from the scarcity leading up to the AGS end, but thats done with.  And it wasn't just the F.O.B. account, it was all the people who helped.  They know who they are and everyone contributed a ton.  Thank YOU!

I suspect a similar thing could be done elsewhere with even more effort and better results.  :)

First though I would like to see people help brainstorm with a list of demographics, then we break down the list, prioritize it, etc.

For example you can check Google search trends and there are charts for Bitcoin and Litecoin. There has been analysis and we have concluded that the price and search attention are correlated. The price rises as more people search for Bitcoin.

But we don't know what is driving it. Is it media attention? Is it the price reaching an ATH that causes the media attention which drives the search results higher? Perhaps it's the mining which allowed people to basically get their first Bitcoins for free which acts as free samples?

We could set up surveys for this forum. There are 5000 users here. We could let each user take the survey. We could restrict the survey only to users who have beyond a certain amount of posts and reward the users who registered earlier with more frequent posts as a way to stop sybil attacks.

We could give the survey to delegates or potential delegates as well. As far as what the developers can do they can allow users of Bitshares X to opt-in to let developers collect anonymous statistics on use patterns. This could be helpful and help developers determine which new features to build next and another alternative to this would be to use an innovation game.

There are many ways to do marketing, to do research, to collect data, and analyze it. Data is everywhere you look and with incentive most users will answer questions. You also have the ability to take polls (I've done it in the past on this forum) but polls aren't so effective if you don't have other data.

So what we really have to do is decide on a course of action we want to try based on what we think we currently know. Then we have to track and analyze our results so that if we see an indication of success we stick with it but if we don't see the marketing campaign going anywhere we drop it.
Not sure if someone has already mentioned this but an idea is to tackle Universities, students and professors across the world.

from unis websites, derive the email address of professors and students, make a list and send them the teasers..

In order to quickly derive all these emails and complete the list, make bounties so forum members can help...

How much discretionary spending does the average university student have? When picking demographics we should at least do it scientifically. We should look for people who are in higher income brackets and most college students are broke.

I think in the short term approaching college students might be okay because it's still kind of cheap but it's not going to scale up unless you can get "sophisticated investors". What demographics is the Bitcoin Investment Trust targeting? How do we get that demographic?

« Last Edit: August 06, 2014, 02:44:51 PM by luckybit »
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Offline tonyk

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Re: Demographics to approach for Bitshares X.
« Reply #11 on: August 06, 2014, 05:15:20 PM »
Any business that can see how accepting bitUSD is beneficial (compared to both BTC and USD).

[edit] Overstock will be great leading the way.

So #4 )Businesses that will adopt bitUSD or BTSX as payment.  There is also the sub-demographic of people serving a consultant/integrator role.
That will be a hard sale without more widespread adoption, but at some point would be very key.  Someone running a crypto-market might see the usefulness of BTSX before others, much like what happened with BTC.  :o

Actually we do not need anybody else but the POS terminal providers/payment processor(s). They just have to offer the merchants the following service:

Accepting USD and bitUSD, in exchange for just putting the sign that they do so on each check-out counter (shopping cart if online). At the end of the day the merchant can receive all of his funds in USD, regardless if the payment was in USD or bitUSD,( if said merchant so chooses).

All that because for POS provider exist easy (very easy indeed) way to immediately lock into the current exchange rate and not worry about bitUSD/BTS X price movement.

This will solve a lot of problems at once – mass adoption by firs merchants followed by customers, advertising will be more efficient because customers will see the bitUSD logo on many (hopefully) counters;  This will lead to a lot of volume on the exchange and volume at very close to the 1:1 bitUSD/USD mark.

Actually that is what we need to make BTS X real huge and real fast.

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline luckybit

Re: Demographics to approach for Bitshares X.
« Reply #12 on: August 07, 2014, 12:34:27 PM »
Here is a thread on an idea I have to dramatically boost advertising for all future DACs.
https://bitsharestalk.org/index.php?topic=6737.0

Put the ads in the Bitshares X interface itself. Every user of Bitshares X could see ads for future DACs or just receive the latest information all in one place without having to check forums, newsletters, etc.

If we are going to start marketing the least we can do is market to our own users.
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Offline gamey

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Re: Demographics to approach for Bitshares X.
« Reply #13 on: August 07, 2014, 05:42:49 PM »


OK, 2 more demographics.  The idea here is that I want to brainstorm and come up with a list of people who will find value in BTSX and have the means to invest.  At some point I'll distill it into a list and maybe we can have discussion on who to approach and how to tackle the problem.

A)People that are privacy minded.  - We could look at the users of BTC predecessors for ideas.  There are services that existed previous to BTC that have come and gone.  The users of these types of services could be interested in things such as BitUSD and TITAN.

B)People in countries that seem likely to outlaw crypto-currencies.  TITAN could be seen as a tool to fight fascist oppression. 
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Offline tonyk

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Re: Demographics to approach for Bitshares X.
« Reply #14 on: August 07, 2014, 05:57:06 PM »

Think big:
-Marketing director collects all payment processors (around the globe) and arranges a 3 day tour/lecture to St. Vegas!
-Dan gives them 2-2.5 hours lectures, for 3 consecutive days.
-1 or 2 of them buy 200 Mil BTSX at those (or close too) low prices.
-Those 1-2 start implementing the idea described in my post above.
BTS X  is huge in 9mo.
…You do not need much more marketing or target groups.


My 2 cents (my 2 BTSX are more valuable to give them)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

 

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