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Quote from: speedy on November 11, 2014, 10:13:23 pmQuote from: xeroc on November 07, 2014, 11:30:51 amQuote from: speedy on November 07, 2014, 11:25:19 amLooks nice, but how about giving a rough estimate of what interest rate could be expected ?You just can't as it mainly depends on the markets volumesIn the market page I can see a list of interest rates people are offering to short BitUSD, so isnt it possible to get a weighted average rate from the currently active shorts ?I agree - it would be better to construct a measure of the the current variable rate of yield that longs are earning today. People are familiar with that concept from traditional banks.
Quote from: xeroc on November 07, 2014, 11:30:51 amQuote from: speedy on November 07, 2014, 11:25:19 amLooks nice, but how about giving a rough estimate of what interest rate could be expected ?You just can't as it mainly depends on the markets volumesIn the market page I can see a list of interest rates people are offering to short BitUSD, so isnt it possible to get a weighted average rate from the currently active shorts ?
Quote from: speedy on November 07, 2014, 11:25:19 amLooks nice, but how about giving a rough estimate of what interest rate could be expected ?You just can't as it mainly depends on the markets volumes
Looks nice, but how about giving a rough estimate of what interest rate could be expected ?
Quote from: pendragon3 on November 09, 2014, 05:56:43 amOn the first slide, instead of saying "the future of banking," you could say something in the imperative mood like "Welcome to the Future of Banking", or "Be your own bank." This would make the first slide more engaging to the viewer. It would also help make the grammar on slide #1 more consistent with the imperative mood that is being used on all the other slides (e.g, "Earn the best interest rates", "Choose your preferred money", and so on).I like this recommendation.
On the first slide, instead of saying "the future of banking," you could say something in the imperative mood like "Welcome to the Future of Banking", or "Be your own bank." This would make the first slide more engaging to the viewer. It would also help make the grammar on slide #1 more consistent with the imperative mood that is being used on all the other slides (e.g, "Earn the best interest rates", "Choose your preferred money", and so on).
Napster knocked up your bank!And BitShares is their spawn!
Quote from: hpenvy on November 07, 2014, 07:57:49 pmI love this breakdown. I don't mind the mention of open source and decentralized, however, I believe the other points are much stronger for Joe Average. If you were to ask your parents what matters to them most, that's always a good place to start.I think we are vastly overestimating how much the average non-tech savvy person will trust "some internet program" to hold their money. Practically the only cases where this has happened is when a bank that they already trusts pushes its mobile or online banking application to them. When they see the interest rates and the other flashy things we can advertise, their immediate reaction will be "oh so it's a scam. Got it.". I think our primary target for the early adopter segment should be people who understand tech, but don't understand bitcoin or hate it because they heard from someone it's a ponzi scheme and that its CEO got arrested. There are loads and loads of them, and I think they will be relatively quick to understand bitUSD, and will see that its better because it is stable. Telling this segment quickly that the system is decentralized (or whatever word is best for conveying this) and that it is open source is extremely important, as when they first see our claims their BS detector will go up and they will read a little further, but if all they see are vague promises then they will dismiss it as a scam.Frankly if a person does not understand what open source is, or don't see the advantages it offers, they will probably never ever buy bitUSD no matter how we try to sell it to them - unless we're able to offer it to them in partnership with their current bank. They will simply not feel confident enough in their own technical skills to make the judgement call about whether to trust this scheme with their hard earned money.
I love this breakdown. I don't mind the mention of open source and decentralized, however, I believe the other points are much stronger for Joe Average. If you were to ask your parents what matters to them most, that's always a good place to start.
Shouldn't the target demographic be those who understand and like Bitcoin for what it is but want more than its current functionality offers?
Quote from: hadrian on November 07, 2014, 07:00:41 pmQuote from: bytemaster on November 07, 2014, 06:39:31 pmQuote from: fluxer555 on November 07, 2014, 06:24:29 pmQuote from: bitmarket on November 07, 2014, 06:13:18 pmI dont think most people know what collateralized is. I think most ads use the words 'backed' or 'insured', as in "insured up to $100,000 by the FDIC".Good... that was bugging me too. I will used "backed"We could make it even easier to understand. Something along the lines of:"Your money is safe - three times its value is held in reserve"That is very very good !!!IMHO
Quote from: bytemaster on November 07, 2014, 06:39:31 pmQuote from: fluxer555 on November 07, 2014, 06:24:29 pmQuote from: bitmarket on November 07, 2014, 06:13:18 pmI dont think most people know what collateralized is. I think most ads use the words 'backed' or 'insured', as in "insured up to $100,000 by the FDIC".Good... that was bugging me too. I will used "backed"We could make it even easier to understand. Something along the lines of:"Your money is safe - three times its value is held in reserve"
Quote from: fluxer555 on November 07, 2014, 06:24:29 pmQuote from: bitmarket on November 07, 2014, 06:13:18 pmI dont think most people know what collateralized is. I think most ads use the words 'backed' or 'insured', as in "insured up to $100,000 by the FDIC".Good... that was bugging me too. I will used "backed"
Quote from: bitmarket on November 07, 2014, 06:13:18 pmI dont think most people know what collateralized is. I think most ads use the words 'backed' or 'insured', as in "insured up to $100,000 by the FDIC".
I dont think most people know what collateralized is.
I think it needs to be a lot more clear what bitshares actually is. If bitshares was just an iteration or improvement of some existing tech that the average consumer knows about, then it would be feasible to sell it mainly on emotions through pictures. But the closest we can get to that is to write that bitshares "is like bitcoin" or "bitcoin 2.0". That will probably still not be enough to prevent the average user from bouncing from confusion. It sucks, but I think we will have to explain some fundamentals of the the system right on the first page, and will thus need to use a lot more text. Unless people are buying into a third party centralized service that holds bitUSD for them, they need to understand that bitshares are distributed and decentralized with no issuer or owner, so there's no risk of an owner running away with their money, but also no official support, insurance or guarantees.I had an idea that one of the ways we can communicate the public key crypto that powers our system, is to market to our users as "owners". So you're not a bitUSD user, you're a bitUSD owner. An owner can never have his funds seized, frozen, snooped on or restricted in any way. You're only an owner if you control the private key. We can do an emotional sell by playing on this as something that should be a fundamental human right: if you've earned something through honest work NO ONE should be allowed to take it from you.I think a good source of inspiration for the visual style would be the style of graphics used in the weusecoins video. I especially like the pacifying colors and that each feature has its own unique icon (and even sound), it quite amazingly done.Here are some random ideas for how I think it could be done in the current style. These are just quick suggestions and written in haste, but maybe some of the ideas are useful.BITSHARES - a bank without bankersDECENTRALIZED (picture: stylized drawing of a meshnet) - Bitshares is powered by all its owners, who work together to run the software that maintains the system across thousands of computers. This ensures that there are no intermediaries between owners and that no one have the ability to change or steal from the system.OPEN SOURCE (picture of whatever people positively associate with open source) - The open source software uses the most reliable proven cryptography to ensure that an owners funds are always safe and spendable only by him. Every line of code is public and can be audited by anyone at any time.STORE OF WEALTH (gold bars) - You can deposit money into bitshares in many forms: bitUSD, bitEUR, bitGOLD... Each of these tokens always hold the value of their underlying asset, and pay an interest rate (currently x%). Everything is collateralized at 300% of its value by the highly liquid backbone currency bitshares.LOW FEES, NO RESTRICTIONS (stylized broken or frozen bank)- Using bitshares you can send money in any form, directly to any other user anywhere on the planet within 10 seconds for 2 cents. You can also exchange currencies and assets instantly and at low fees. There are no restrictions, requirements or authorization needed for the owner to send and spend his money as he wishes. Transactions are private and no one will know how you spend your money.BE YOUR OWN BANK (picture of sympathetic person) - these features allows anyone to store their money with total privacy in the way they decide, out of reach of getting stolen, frozen or seized. Finally you can own what you own.
Maybe more like uTorrent knocked up your bank? :pNapster was centralized, and some users got into trouble with it.
Quote from: bytemaster on November 07, 2014, 05:05:18 pmI think we will probably say "deposits are collateralized 300%" rather than loans. I would prefer that.
I think we will probably say "deposits are collateralized 300%" rather than loans.
Quote from: betax on November 07, 2014, 02:57:13 pmCan we sell BitShares in one sentence? For early adopters:All the advantages of bitcoin with the added stability of the US dollar.
Can we sell BitShares in one sentence?
Quote from: Frodo on November 07, 2014, 08:49:05 amI'm not sure, but I could see some confusion coming from the whole "loan" / "lending" terminology. I don't think that all users are aware how lending is connected to creation of USD or bitUSD. That might give some people the idea that we have something implemented like the lending DAC functionality.When people think of "banking" they normally think: I deposit money, the bank lends money to others, and I get a cut of the interest. More sophisticated above average "normal" people might consider whether or not a bank is holding subprime loans and over leveraged or whether it is holding high quality loans and thus solvent. If people ask about getting a loan the answer is very clear, "we only lend against BTS" do you have any collateral? As a result the average man will say, oh I guess I cannot get a mortgage with you. Which is FINE! If you go to average bank and ask for a loan collateralized by something non-standard such as stocks, gold, silver, etc they will make it very clear.If BitShares is working as intended then there is very little difference between BitUSD and USD other than the name of the institution that is promising to pay a USD worth of value. So for the primary value proposition we want to avoid introducing unfamiliar terms or concepts. Bitcoin has NOTHING to do with the service provided by BitShares and thus we should not sell BitShares based on this. There will need to be a "Technology" page that describes the power of the technology and mentions bitcoin. This page would mostly be for "investors" and "very curious" individuals.
I'm not sure, but I could see some confusion coming from the whole "loan" / "lending" terminology. I don't think that all users are aware how lending is connected to creation of USD or bitUSD. That might give some people the idea that we have something implemented like the lending DAC functionality.
Quote from: Gonzo on November 07, 2014, 02:56:30 pmQuote from: toast on November 07, 2014, 02:50:27 pmQuote from: Rune on November 07, 2014, 12:48:43 pmI think it needs to be a lot more clear what bitshares actually is. If bitshares was just an iteration or improvement of some existing tech that the average consumer knows about, then it would be feasible to sell it mainly on emotions through pictures. But the closest we can get to that is to write that bitshares "is like bitcoin" or "bitcoin 2.0". That will probably still not be enough to prevent the average user from bouncing from confusion. It sucks, but I think we will have to explain some fundamentals of the the system right on the first page, and will thus need to use a lot more text. Unless people are buying into a third party centralized service that holds bitUSD for them, they need to understand that bitshares are distributed and decentralized with no issuer or owner, so there's no risk of an owner running away with their money, but also no official support, insurance or guarantees.I had an idea that one of the ways we can communicate the public key crypto that powers our system, is to market to our users as "owners". So you're not a bitUSD user, you're a bitUSD owner. An owner can never have his funds seized, frozen, snooped on or restricted in any way. You're only an owner if you control the private key. We can do an emotional sell by playing on this as something that should be a fundamental human right: if you've earned something through honest work NO ONE should be allowed to take it from you.I think a good source of inspiration for the visual style would be the style of graphics used in the weusecoins video. I especially like the pacifying colors and that each feature has its own unique icon (and even sound), it quite amazingly done.Here are some random ideas for how I think it could be done in the current style. These are just quick suggestions and written in haste, but maybe some of the ideas are useful.BITSHARES - a bank without bankersDECENTRALIZED (picture: stylized drawing of a meshnet) - Bitshares is powered by all its owners, who work together to run the software that maintains the system across thousands of computers. This ensures that there are no intermediaries between owners and that no one have the ability to change or steal from the system.OPEN SOURCE (picture of whatever people positively associate with open source) - The open source software uses the most reliable proven cryptography to ensure that an owners funds are always safe and spendable only by him. Every line of code is public and can be audited by anyone at any time.STORE OF WEALTH (gold bars) - You can deposit money into bitshares in many forms: bitUSD, bitEUR, bitGOLD... Each of these tokens always hold the value of their underlying asset, and pay an interest rate (currently x%). Everything is collateralized at 300% of its value by the highly liquid backbone currency bitshares.LOW FEES, NO RESTRICTIONS (stylized broken or frozen bank)- Using bitshares you can send money in any form, directly to any other user anywhere on the planet within 10 seconds for 2 cents. You can also exchange currencies and assets instantly and at low fees. There are no restrictions, requirements or authorization needed for the owner to send and spend his money as he wishes. Transactions are private and no one will know how you spend your money.BE YOUR OWN BANK (picture of sympathetic person) - these features allows anyone to store their money with total privacy in the way they decide, out of reach of getting stolen, frozen or seized. Finally you can own what you own. DECENTRALIZED could be COOPERATIVE Sent from my iPhone using Tapatalk And I think change from decentralized to cooperative is a good idea. It makes me think of "credit unions" with their lower fees versus banks and I think it's a better description of what's going on.
Quote from: toast on November 07, 2014, 02:50:27 pmQuote from: Rune on November 07, 2014, 12:48:43 pmI think it needs to be a lot more clear what bitshares actually is. If bitshares was just an iteration or improvement of some existing tech that the average consumer knows about, then it would be feasible to sell it mainly on emotions through pictures. But the closest we can get to that is to write that bitshares "is like bitcoin" or "bitcoin 2.0". That will probably still not be enough to prevent the average user from bouncing from confusion. It sucks, but I think we will have to explain some fundamentals of the the system right on the first page, and will thus need to use a lot more text. Unless people are buying into a third party centralized service that holds bitUSD for them, they need to understand that bitshares are distributed and decentralized with no issuer or owner, so there's no risk of an owner running away with their money, but also no official support, insurance or guarantees.I had an idea that one of the ways we can communicate the public key crypto that powers our system, is to market to our users as "owners". So you're not a bitUSD user, you're a bitUSD owner. An owner can never have his funds seized, frozen, snooped on or restricted in any way. You're only an owner if you control the private key. We can do an emotional sell by playing on this as something that should be a fundamental human right: if you've earned something through honest work NO ONE should be allowed to take it from you.I think a good source of inspiration for the visual style would be the style of graphics used in the weusecoins video. I especially like the pacifying colors and that each feature has its own unique icon (and even sound), it quite amazingly done.Here are some random ideas for how I think it could be done in the current style. These are just quick suggestions and written in haste, but maybe some of the ideas are useful.BITSHARES - a bank without bankersDECENTRALIZED (picture: stylized drawing of a meshnet) - Bitshares is powered by all its owners, who work together to run the software that maintains the system across thousands of computers. This ensures that there are no intermediaries between owners and that no one have the ability to change or steal from the system.OPEN SOURCE (picture of whatever people positively associate with open source) - The open source software uses the most reliable proven cryptography to ensure that an owners funds are always safe and spendable only by him. Every line of code is public and can be audited by anyone at any time.STORE OF WEALTH (gold bars) - You can deposit money into bitshares in many forms: bitUSD, bitEUR, bitGOLD... Each of these tokens always hold the value of their underlying asset, and pay an interest rate (currently x%). Everything is collateralized at 300% of its value by the highly liquid backbone currency bitshares.LOW FEES, NO RESTRICTIONS (stylized broken or frozen bank)- Using bitshares you can send money in any form, directly to any other user anywhere on the planet within 10 seconds for 2 cents. You can also exchange currencies and assets instantly and at low fees. There are no restrictions, requirements or authorization needed for the owner to send and spend his money as he wishes. Transactions are private and no one will know how you spend your money.BE YOUR OWN BANK (picture of sympathetic person) - these features allows anyone to store their money with total privacy in the way they decide, out of reach of getting stolen, frozen or seized. Finally you can own what you own. DECENTRALIZED could be COOPERATIVE Sent from my iPhone using Tapatalk
Quote from: Rune on November 07, 2014, 12:48:43 pmI think it needs to be a lot more clear what bitshares actually is. If bitshares was just an iteration or improvement of some existing tech that the average consumer knows about, then it would be feasible to sell it mainly on emotions through pictures. But the closest we can get to that is to write that bitshares "is like bitcoin" or "bitcoin 2.0". That will probably still not be enough to prevent the average user from bouncing from confusion. It sucks, but I think we will have to explain some fundamentals of the the system right on the first page, and will thus need to use a lot more text. Unless people are buying into a third party centralized service that holds bitUSD for them, they need to understand that bitshares are distributed and decentralized with no issuer or owner, so there's no risk of an owner running away with their money, but also no official support, insurance or guarantees.I had an idea that one of the ways we can communicate the public key crypto that powers our system, is to market to our users as "owners". So you're not a bitUSD user, you're a bitUSD owner. An owner can never have his funds seized, frozen, snooped on or restricted in any way. You're only an owner if you control the private key. We can do an emotional sell by playing on this as something that should be a fundamental human right: if you've earned something through honest work NO ONE should be allowed to take it from you.I think a good source of inspiration for the visual style would be the style of graphics used in the weusecoins video. I especially like the pacifying colors and that each feature has its own unique icon (and even sound), it quite amazingly done.Here are some random ideas for how I think it could be done in the current style. These are just quick suggestions and written in haste, but maybe some of the ideas are useful.BITSHARES - a bank without bankersDECENTRALIZED (picture: stylized drawing of a meshnet) - Bitshares is powered by all its owners, who work together to run the software that maintains the system across thousands of computers. This ensures that there are no intermediaries between owners and that no one have the ability to change or steal from the system.OPEN SOURCE (picture of whatever people positively associate with open source) - The open source software uses the most reliable proven cryptography to ensure that an owners funds are always safe and spendable only by him. Every line of code is public and can be audited by anyone at any time.STORE OF WEALTH (gold bars) - You can deposit money into bitshares in many forms: bitUSD, bitEUR, bitGOLD... Each of these tokens always hold the value of their underlying asset, and pay an interest rate (currently x%). Everything is collateralized at 300% of its value by the highly liquid backbone currency bitshares.LOW FEES, NO RESTRICTIONS (stylized broken or frozen bank)- Using bitshares you can send money in any form, directly to any other user anywhere on the planet within 10 seconds for 2 cents. You can also exchange currencies and assets instantly and at low fees. There are no restrictions, requirements or authorization needed for the owner to send and spend his money as he wishes. Transactions are private and no one will know how you spend your money.BE YOUR OWN BANK (picture of sympathetic person) - these features allows anyone to store their money with total privacy in the way they decide, out of reach of getting stolen, frozen or seized. Finally you can own what you own.
Looks good. Not sure about the "loan" part though. It will for sure increase the number of people that download and create an account...thinking that they can apply for a loan...but they may feel like they have been "baited and switched" unless their are plans to provide loan functionality, which would be awesome.
Looks good.It's an obvious point but one of the big liabilities is the user. BitShares needs to be foolproof not just fullproof. Given the complacency and competence of most potential users, I wonder that "Rest assured your money is safe" is not sufficient and there need to be clear statement about the responsibility the user has for their own wallet and explicit descriptions of what needs to be done to secure that - to the point of assuming they are not familiar with Bitcoin. Perhaps that is already the next step as they look into how to proceed.