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Offline triox

Some advice from a convert.
« on: September 11, 2014, 10:06:47 PM »

While the community awaits the big "marketing push", I think I can add some perspective, as I believe I AM your target customer. At this stage Bitshares-X is a niche product that should target mainly long time BTC holders. If you can't capture them how can you ever dream of acquiring the mainstream attention?

I've been slowly accumulating BTC since mid 2011 and used to be venomously anti altcoins, including all the "2.0 nonsense".
I'm still 96% BTC, but here's what made me start diversifying into BTSX, NXT and ETH and some others (BTSX is the first thing that I put more than 1 BTC in):

  • Stephen Reed's points about Bitcoin's wastefulness and how much marketing and development could be done with a different coin generation method.
  • Dan Larimer's interview, where he outlined the "economic insanity" of Proof of Work.
  • Realization that my interests are no longer aligned with miners'. Those couple hundred people centralized in a handful of pools are diluting my stake, for what? There's still 11 mil coins to be mined and NO chance that I will ever be able to increase my share of the market. Fuck inflation and fuck the fake industry that feeds off of it.
  • It took me a while, but I only recently realized that I might as well hold some of my BTC in BitBTC and earn interest.

The only thing that's preventing me from pulling the trigger and going, say, 10% BTSX and BitBTC is uncertainty over development and bugs. I'm not 100% sure if my BTC will be completely safe in a BTSX container or if rules for BTSX won't change. If Bytemaster can suddenly introduce such fundamental change as interest on BitAssets, then the whole thing seems to hang too much on a whim of one person. This adds uncomfortable unpredictability.

The important thing right now is to just get the Bitcoiners to tip their toes in your ecosystem. You won't get them to suddenly dump their BTC, but you absolutely can get them to diversify into your offerings. A little at first, and more when  confidence in your system grows.

So here's my recommendation:
Buy ads on /r/Bitcoin etc. that says
Earn interest on your Bitcoin,
or
Did you know Bitcoin looses $Billion a year?
or
Ten seconds block times, trustless BTC, USD, Gold trading
and lands to a Bitshares-X page geared specifically towards BTC holders.

Buy native advertising on CoinDesk and other crypto media outlets.

Stop wasting money trying to acquire traffic from people interested in buying Bitcoin for the first time. They barely "get" Bitcoin, don't think you can make them understand even deeper levels of abstraction.

Offline cygnify

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Re: Some advice from a convert.
« Reply #1 on: September 11, 2014, 10:15:52 PM »
I do like this approach as a starting point (but there definitely is a whole new group of user bitsharesX should aim at concurrently or a short time after).
6 months ago had you told me that bitcoin costs $657,450,000 per year currently to keep it operational I may have thought twice about dumping as much money into it as I did. Not many users are aware of this and that Bitshares not only solves this, but is deflationary for the main currency BTSX. Amazing!

This stuff sells itself. Honestly the problem with bitsharesX is it sounds too good to be true after dealing with bitcoin. Seriously.

Offline luckybit

Re: Some advice from a convert.
« Reply #2 on: September 11, 2014, 10:33:45 PM »
Wouldn't long term Bitcoin holders go to conferences or go on Bitcointalk? In that case they already know about Bitshares. If they don't go to those places they check Coinmarketcap.

The problem with targeting Bitcoin holders exclusively is most people into Bitcoin are poor. They don't have any money left. If they had so much money the Bitcoin price would reflect it.

So new people need to enter the market.
« Last Edit: September 11, 2014, 10:37:38 PM by luckybit »
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Offline eagleeye

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Re: Some advice from a convert.
« Reply #3 on: September 11, 2014, 10:59:35 PM »
Is there an infographic comparison of bitcoin to bitshares?  If not we need it.

My guy is working real slow on the infographic we will see if we finish the alignment tonight.

Offline Method-X

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Re: Some advice from a convert.
« Reply #4 on: September 11, 2014, 11:03:11 PM »
Buy ads on /r/Bitcoin etc. that says
Earn interest on your Bitcoin,

+5%

Also /r/BitcoinMarkets

Offline onceuponatime

Re: Some advice from a convert.
« Reply #5 on: September 11, 2014, 11:04:55 PM »
Is there an infographic comparison of bitcoin to bitshares?  If not we need it.

My guy is working real slow on the infographic we will see if we finish the alignment tonight.

http://www.youtube.com/watch?v=r1M5eEJeT38

Offline Geneko

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Re: Some advice from a convert.
« Reply #6 on: September 11, 2014, 11:59:29 PM »

So here's my recommendation:
Buy ads on /r/Bitcoin etc. that says
Earn interest on your Bitcoin,
or
Did you know Bitcoin looses $Billion a year?
or
Ten seconds block times, trustless BTC, USD, Gold trading
and lands to a Bitshares-X page geared specifically towards BTC holders.

Buy native advertising on CoinDesk and other crypto media outlets.

Stop wasting money trying to acquire traffic from people interested in buying Bitcoin for the first time. They barely "get" Bitcoin, don't think you can make them understand even deeper levels of abstraction.

I agree with your propositions short term but from time prospective they are too tactical.

Bitcoin has made some promises and some of them are fulfilled and some are not and some never will be.

BisharesX has its promises too and one of them is to be better technology then Bitcoin, and on top of that to replace not only the money but the whole ecosystem associated with it. And that's only beginning.
Beside Bitcoin has barely scratch its targeted market and it is about time to be replaced by more mature technology.
As for getting the technology, me and my wife don't get nothing about GPRS technology but we use it all the time.
You dont need to explain everything you just need to explain how could I benefit from it.

So what is BitsharesX strategic objective?
Who is its really meant for? Who could benefit from it most?
How can we find better, faster,easiest ways to achieve those goals and etc..
I think answer for above questions should be our long term marketing goals.


Offline GaltReport

Re: Some advice from a convert.
« Reply #7 on: September 12, 2014, 12:14:23 AM »

So here's my recommendation:
Buy ads on /r/Bitcoin etc. that says
Earn interest on your Bitcoin,
or
Did you know Bitcoin looses $Billion a year?
or
Ten seconds block times, trustless BTC, USD, Gold trading
and lands to a Bitshares-X page geared specifically towards BTC holders.

Buy native advertising on CoinDesk and other crypto media outlets.

Stop wasting money trying to acquire traffic from people interested in buying Bitcoin for the first time. They barely "get" Bitcoin, don't think you can make them understand even deeper levels of abstraction.

I agree with your propositions short term but from time prospective they are too tactical.

Bitcoin has made some promises and some of them are fulfilled and some are not and some never will be.

BisharesX has its promises too and one of them is to be better technology then Bitcoin, and on top of that to replace not only the money but the whole ecosystem associated with it. And that's only beginning.
Beside Bitcoin has barely scratch its targeted market and it is about time to be replaced by more mature technology.
As for getting the technology, me and my wife don't get nothing about GPRS technology but we use it all the time.
You dont need to explain everything you just need to explain how could I benefit from it.

So what is BitsharesX strategic objective?
Who is its really meant for? Who could benefit from it most?
How can we find better, faster,easiest ways to achieve those goals and etc..
I think answer for above questions should be our long term marketing goals.

 +5%

Offline tonyk

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Re: Some advice from a convert.
« Reply #8 on: September 12, 2014, 12:19:22 AM »
One of the best post ever follows. Kind of hard to add to that:

'The average Joe isn't going to be able to understand the system any more than they understand the current banking system or even bitcoin.  At the end of the day most people have to watch it work and then learn to trust it.   While there is some value in trying to explain it to the average Joe in simple terms, much is lost in translation and that is really beyond the point of this particular thread.

I think that if someone wishes to "attack" the idea BitUSD but lacks the background to know the terms used, then they also lack the standing to publicly criticize and declare a scam, fraud, or broken system.   I do not like to hide behind fancy language and have taken great effort to explain it in simple terms in many places.   Unfortunately the simple explanations are never "complete, accurate, and authoritative".

The primary difference between BitUSD and the FED is that it is market driven and all IOUs are collateralized 200%.   In the case of the Fed they can print up $2 trillion dollars without having any collateral.  BTSX would require collateral worth $4 trillion dollars to exist.   The next difference is transparency.   Another difference is the complete lack of "price fixing".'
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline GaltReport

Re: Some advice from a convert.
« Reply #9 on: September 12, 2014, 12:21:31 AM »
One of the best post ever follows. Kind of hard to add to that:

'The average Joe isn't going to be able to understand the system any more than they understand the current banking system or even bitcoin.  At the end of the day most people have to watch it work and then learn to trust it.   While there is some value in trying to explain it to the average Joe in simple terms, much is lost in translation and that is really beyond the point of this particular thread.

I think that if someone wishes to "attack" the idea BitUSD but lacks the background to know the terms used, then they also lack the standing to publicly criticize and declare a scam, fraud, or broken system.   I do not like to hide behind fancy language and have taken great effort to explain it in simple terms in many places.   Unfortunately the simple explanations are never "complete, accurate, and authoritative".

The primary difference between BitUSD and the FED is that it is market driven and all IOUs are collateralized 200%.   In the case of the Fed they can print up $2 trillion dollars without having any collateral.  BTSX would require collateral worth $4 trillion dollars to exist.   The next difference is transparency.   Another difference is the complete lack of "price fixing".'


Great stuff. I will borrow this more than once!

Offline tonyk

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Re: Some advice from a convert.
« Reply #10 on: September 12, 2014, 12:25:13 AM »
One of the best post ever follows. Kind of hard to add to that:

'The average Joe isn't going to be able to understand the system any more than they understand the current banking system or even bitcoin.  At the end of the day most people have to watch it work and then learn to trust it.   While there is some value in trying to explain it to the average Joe in simple terms, much is lost in translation and that is really beyond the point of this particular thread.

I think that if someone wishes to "attack" the idea BitUSD but lacks the background to know the terms used, then they also lack the standing to publicly criticize and declare a scam, fraud, or broken system.   I do not like to hide behind fancy language and have taken great effort to explain it in simple terms in many places.   Unfortunately the simple explanations are never "complete, accurate, and authoritative".

The primary difference between BitUSD and the FED is that it is market driven and all IOUs are collateralized 200%.   In the case of the Fed they can print up $2 trillion dollars without having any collateral.  BTSX would require collateral worth $4 trillion dollars to exist.   The next difference is transparency.   Another difference is the complete lack of "price fixing".'


Great stuff. I will borrow this more than once!

Not my words (unfortunately), but as far as I know the author is generally against intellectual property rights, so feel free to use it for the good of Bitshares X.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Method-X

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Re: Some advice from a convert.
« Reply #11 on: September 12, 2014, 01:41:38 AM »
One of the best post ever follows. Kind of hard to add to that:

'The average Joe isn't going to be able to understand the system any more than they understand the current banking system or even bitcoin.  At the end of the day most people have to watch it work and then learn to trust it.   While there is some value in trying to explain it to the average Joe in simple terms, much is lost in translation and that is really beyond the point of this particular thread.

I think that if someone wishes to "attack" the idea BitUSD but lacks the background to know the terms used, then they also lack the standing to publicly criticize and declare a scam, fraud, or broken system.   I do not like to hide behind fancy language and have taken great effort to explain it in simple terms in many places.   Unfortunately the simple explanations are never "complete, accurate, and authoritative".

The primary difference between BitUSD and the FED is that it is market driven and all IOUs are collateralized 200%.   In the case of the Fed they can print up $2 trillion dollars without having any collateral.  BTSX would require collateral worth $4 trillion dollars to exist.   The next difference is transparency.   Another difference is the complete lack of "price fixing".'


 +5%

You can't fork the FED, but you can fork BitShares X.
« Last Edit: September 12, 2014, 02:18:35 AM by MeTHoDx »

merockstar

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Re: Some advice from a convert.
« Reply #12 on: September 12, 2014, 05:22:05 AM »
You can't fork the FED, but you can fork BitShares X.

t-shirt material.

Offline jsidhu

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Re: Some advice from a convert.
« Reply #13 on: September 12, 2014, 06:19:54 AM »
While the community awaits the big "marketing push", I think I can add some perspective, as I believe I AM your target customer. At this stage Bitshares-X is a niche product that should target mainly long time BTC holders. If you can't capture them how can you ever dream of acquiring the mainstream attention?

I've been slowly accumulating BTC since mid 2011 and used to be venomously anti altcoins, including all the "2.0 nonsense".
I'm still 96% BTC, but here's what made me start diversifying into BTSX, NXT and ETH and some others (BTSX is the first thing that I put more than 1 BTC in):

  • Stephen Reed's points about Bitcoin's wastefulness and how much marketing and development could be done with a different coin generation method.
  • Dan Larimer's interview, where he outlined the "economic insanity" of Proof of Work.
  • Realization that my interests are no longer aligned with miners'. Those couple hundred people centralized in a handful of pools are diluting my stake, for what? There's still 11 mil coins to be mined and NO chance that I will ever be able to increase my share of the market. Fuck inflation and fuck the fake industry that feeds off of it.
  • It took me a while, but I only recently realized that I might as well hold some of my BTC in BitBTC and earn interest.

The only thing that's preventing me from pulling the trigger and going, say, 10% BTSX and BitBTC is uncertainty over development and bugs. I'm not 100% sure if my BTC will be completely safe in a BTSX container or if rules for BTSX won't change. If Bytemaster can suddenly introduce such fundamental change as interest on BitAssets, then the whole thing seems to hang too much on a whim of one person. This adds uncomfortable unpredictability.

The important thing right now is to just get the Bitcoiners to tip their toes in your ecosystem. You won't get them to suddenly dump their BTC, but you absolutely can get them to diversify into your offerings. A little at first, and more when  confidence in your system grows.

So here's my recommendation:
Buy ads on /r/Bitcoin etc. that says
Earn interest on your Bitcoin,
or
Did you know Bitcoin looses $Billion a year?
or
Ten seconds block times, trustless BTC, USD, Gold trading
and lands to a Bitshares-X page geared specifically towards BTC holders.

Buy native advertising on CoinDesk and other crypto media outlets.

Stop wasting money trying to acquire traffic from people interested in buying Bitcoin for the first time. They barely "get" Bitcoin, don't think you can make them understand even deeper levels of abstraction.
Great points.. and I think many people are in the same boat as you.. so slowly people will start to switch as bugs are ironed out.. only a matter of time. Before any major changes BM usually creates topics for people to chime in on coming changes so I think people DO have a say and its not just at the whim of a person.
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Offline nodata

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Re: Some advice from a convert.
« Reply #14 on: September 12, 2014, 09:15:01 AM »
 +5% to the OP. IMO he has hit the nail on the head

 

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