BitShares Forum
Main => General Discussion => Topic started by: Method-X on October 17, 2014, 05:58:34 pm
-
I've been trying to articulate my concerns with the marketing direction for quite some time. On the one hand, I understand the need to reach a broader audience than the little crypto bubble we live in and on the other I'm trying to reconcile who will actually use BitUSD and why...
- Regulation is driving blockchain technology out of America. They don't even have a Bitcoin exchange.
- The American banking system works well enough for an apathetic mainstream.
- Yield may not be enough to entice Americans.
The advantage of BitUSD is it's basically Bitcoin with stability and yield. Who does that appeal most to? For BitUSD to gain traction, I believe it only needs to take root in one relatively substantial niche; from there it will spread to other areas it's most useful.
What are some significant niches that need what BitUSD offers right now?
- Remittances.
- Countries with volatile currencies. (https://bitsharestalk.org/index.php?topic=10048.0)
- Countries with capital controls.
- Markets that transact exclusively in BTC.
- Unbanked billions.
America and the West in general may not be the low hanging fruit that will take us to a trillion dollar market cap. Maybe efforts would be better spent introducing BitUSD into an environment that desperately needs this technology?
-
BitUSD on the whole will probably always be moure valueable to ppl outside the US than inside.
-
Yes you're absolutely right, they're not the low hanging fruit. On the contrary they're the fruit highest on the tree, especially baby boomers. The perceived advantages to them will be low and you'll spend a fortune trying to target them.
(If you did want to hit them then you need a marketing surf board ready to ride a catalyst wave.
So when BitCoin had a huge drop a few weeks ago that's when you want to hit the Alt-coin market with BitAsset marketing & advertising. (It really kicked off NuBits) At that point in time BitAssets become 10x more interesting and valuable.
When deposit confiscations start that's when you want to hit mainstream with marketing. At that point in time BitAssets become 10x more interesting and valuable.)
Imo, the marketing strategy for now should be something like
Anywhere demand is high but supply is limited or restricted. That's the market. It's like selling water in the desert, easy.
The marketing strategy should clearly be to find the 4/5 markets that fit those criteria the most & try penetrate them, starting with the ones that are the most targetable.
https://bitsharestalk.org/index.php?topic=10048.msg131842#msg131842
Edit: I don't mind a strategy that announce BitAssets to the mainstream and gives them the tools to use it. That needs to be in place to take advantage of a catalyst anyway.
I just think it's a waste to spend too much money trying to chase mainstream and that you'll have more success with targetable niches.
-
bitBTC <-> bitUSD, bitCNY
To the Bitcoin and alt community we could easily be a decentralized exchange with fast transaction times, almost no fees and yield on assets. Everyone in the crypto community understands the problems of centralized exchanges, they know about regulatory issues, overhead, and even cases like Gox, CryptoRush, and now Mintpal (not to mention the shadiness BTC-e or ineptitude of Cryptsy). I constantly now see people on facebook, twitter, chats and comment sections all slowly turning their backs to mining and calling out for good, decentralized exchanges.
It feels to me like we almost have too many options at this point for how to market BitShares X. It is 1) a decentralized exchange, 2) a personal vault that pays interest, 3) fiat&assets on a blockchain, and 4) an opportunity to invest and speculate in a new type of bank and exchange. Combining all these aspects of BitShares X's potential with different target demographics will result right away in an explosion of possible marketing strategies.. How do we decide?
-
bitBTC <-> bitUSD, bitCNY
To the Bitcoin and alt community we could easily be a decentralized exchange with fast transaction times, almost no fees and yield on assets. Everyone in the crypto community understands the problems of centralized exchanges, they know about regulatory issues, overhead, and even cases like Gox, CryptoRush, and now Mintpal (not to mention the shadiness BTC-e or ineptitude of Cryptsy). I constantly now see people on facebook, twitter, chats and comment sections all slowly turning their backs to mining and calling out for good, decentralized exchanges.
It feels to me like we almost have too many options at this point for how to market BitShares X. It is 1) a decentralized exchange, 2) a personal vault that pays interest, 3) fiat&assets on a blockchain, and 4) an opportunity to invest and speculate in a new type of bank and exchange. Combining all these aspects of BitShares X's potential with different target demographics will result right away in an explosion of possible marketing strategies.. How do we decide?
I think their current strategy of setting up accessibility is the right one.
However out of all the markets, until there is a catalyst, Western mainstream especially baby boomers are the hardest to target. So I'm not a fan of wasting money with big network effect programs trying to bootstrap them.
I would target the 4/5 places where BitAssets are in highest demand and if you are going to use bonuses to gain network effect, do it there. (However in the right places you really won't need extra incentives.)
(Edit: For EBay + Debit Cards, I would counter-intuitively probably focus more on targeting merchants before consumers, because BitAssets have more advantages for merchants and merchants are a smaller more targetable group - So instead of having consumers asking merchants to start accepting BitAssets, imagine a consumer going to check-out and seeing 'Would you like 5% off this purchase by paying with BitUSD?'. -Still I wouldn't describe that market as the low hanging fruit.)
-
However out of all the markets, until there is a catalyst, Western mainstream especially baby boomers are the hardest to target. So I'm not a fan of wasting money with big network effect programs trying to bootstrap them.
Baby boomers are the hardest sell out of everyone on this planet. I think if we establish ourselves in one or two solid niche markets now, an inevitable economic collapse in America will send the mainstream our way naturally. All we need is a solid foundation and a little infrastructure. After that, we need only wait.
-
LTC jumped from under 2 dollar to 55 dollars this time around last year, from lower then we are now to 20x higher (1.2 billion).. From what I could tell 99% of that was hype generated internally from the crypto community, the average investors on the periphery being collateral damage sucked into it after the fact.
In that case it was also a question of access, but then there was so much buzz, so much insanity and hype, "LTC on GOX" and "LTC ON CHINA" - everyone could feel shit was about to go down http://trollboxarchive.com/quote/20357534
-
Medias engine @ mtgox .. that have been funny announcements of announcements :)
-
LTC jumped from under 2 dollar to 55 dollars this time around last year, from lower then we are now to 20x higher (1.2 billion).. From what I could tell 99% of that was hype generated internally from the crypto community, the average investors on the periphery being collateral damage sucked into it after the fact.
In that case it was also a question of access, but then there was so much buzz, so much insanity and hype, "LTC on GOX" and "LTC ON CHINA" - everyone could feel shit was about to go down http://trollboxarchive.com/quote/20357534
Yeah I rode that train, forget the numbers but got in 5-ish I think and out in mid twenties.
I remember Max Keiser was all over it as well, I think that really helped, he has quite a platform.
I think his pump juice is much weaker now though, felt kind of sad watching him try do the same thing for MaxCoin.
But I agree a Billion dollar + valuation can come in a blink. I'd like to think BTSX has enough penetration in the Chinese market especially that once they feel it's decentralised, stable & they like what they see, we'll see the price rise a lot.
-
I remember Max Keiser was all over it as well, I think that really helped, he has quite a platform.
I think his pump juice is much weaker now though, felt kind of sad watching him try do the same thing for MaxCoin.
Keiser is involved with Startcoin (https://coinmarketcap.com/currencies/startcoin/#charts) now though ;)
-
I remember Max Keiser was all over it as well, I think that really helped, he has quite a platform.
I think his pump juice is much weaker now though, felt kind of sad watching him try do the same thing for MaxCoin.
Keiser is involved with Startcoin (https://coinmarketcap.com/currencies/startcoin/#charts) now though ;)
Keiser had no actual involvement with MaxCoin, other than to allow others use his name. He's the anti-Kanye. Startcoin is his project, along with the Startjoin crowd funding platform.
-
I remember Max Keiser was all over it as well, I think that really helped, he has quite a platform.
I think his pump juice is much weaker now though, felt kind of sad watching him try do the same thing for MaxCoin.
Keiser is involved with Startcoin (https://coinmarketcap.com/currencies/startcoin/#charts) now though ;)
Keiser had no actual involvement with MaxCoin, other than to allow others use his name. He's the anti-Kanye. Startcoin is his project, along with the Startjoin crowd funding platform.
I remember him doing what I would describe as 'pumping MaxCoin' a few times though.
I've seen him do a couple of things on Startcoin. I like him but I don't get to watch him as much these days though. I actually don't follow the alt-coin market much at all really atm as I'm so into BitShares.
BitAssets are the Sh*$! :)
-
LTC jumped from under 2 dollar to 55 dollars this time around last year, from lower then we are now to 20x higher (1.2 billion).. From what I could tell 99% of that was hype generated internally from the crypto community, the average investors on the periphery being collateral damage sucked into it after the fact.
In that case it was also a question of access, but then there was so much buzz, so much insanity and hype, "LTC on GOX" and "LTC ON CHINA" - everyone could feel shit was about to go down http://trollboxarchive.com/quote/20357534
A BTSX pump would be awesome but I think the crypto community has become incredibly averse to altcoins in general. Establishing a solid foundation would ultimately do us more good than a couple of pumps (unless those pumps lead to infrastructure and BitUSD gaining use).
-
cut the Gordian Knot with
bitGOLD
GOLD is globally appreciated in converse with USD aka bitUSD
Sent from my ALCATEL ONE TOUCH 997D
-
LTC jumped from under 2 dollar to 55 dollars this time around last year, from lower then we are now to 20x higher (1.2 billion).. From what I could tell 99% of that was hype generated internally from the crypto community, the average investors on the periphery being collateral damage sucked into it after the fact.
In that case it was also a question of access, but then there was so much buzz, so much insanity and hype, "LTC on GOX" and "LTC ON CHINA" - everyone could feel shit was about to go down http://trollboxarchive.com/quote/20357534
A BTSX pump would be awesome but I think the crypto community has become incredibly averse to altcoins in general. Establishing a solid foundation would ultimately do us more good than a couple of pumps (unless those pumps lead to infrastructure and BitUSD gaining use).
I think we are in a completely different situation now. If the BitShares ecosystem grows 20x from where it is now, the influx of capital to building the ecosystem will be brutal, even with well under 5% inflation across DACs we will see millions of dollar projects being launched each month. This is truly unthinkable disruption which nevertheless kind of seems like an inevitability.
-
Bump!
-
FFS when will we start paying this guy to help us
-
This is one of the best posts I've seen in awhile. Sucks how true it is, though. I suppose the Kardashians being primetime hasn't really helped us advance as planned.
-
FFS when will we start paying this guy to help us
I suggest right after he creates a Potbit assets, writes a press release 'BTS now sells digital pot asset!', sends it to all media outlets, and as a result of the attention BTS price skyrockets ....
-
FFS when will we start paying this guy to help us
I suggest right after he creates a Potbit assets, writes a press release 'BTS now sells digital pot asset!', sends it to all media outlets, and as a result of the attention BTS price skyrockets ....
Engineering a Streisand effect would certainly be a marketing angle worth taking. However, if I were the marketing team at Invictus, I'd also be looking at establishing partnerships with BitPagio and BitPesa. 8,000 Convenience Stores in Argentina Now Sell Bitcoin (http://www.coindesk.com/bitpagos-brings-bitcoin-8000-convenience-stores-ripio/). I'd have Brian on the phone with those guys pitching BitUSD yesterday.
-
I think it would be a good idea to talk with Peter Schiff's company EuroPacific Capital. They could add BitUSD to their investors portfolio of gold/silver/stocks/etc.
-
I've always championed bitAssets over bitUSD and hope we can promote those as an idea first and foremost. After all, bitAssets can cover many different currencies, not just the dollar. But bytemaster has a point in wanting to promote bitUSD first, because (whether we like it or not) USD is still the primary currency for much of the modern world and even more so in the tech world, which is where we find ourselves. But agreed, we need to focus on the idea of "virtual" or "crypto" currencies on the broad scale, not just bitUSD and to those within USD based economies.
-
I've always championed bitAssets over bitUSD and hope we can promote those as an idea first and foremost. After all, bitAssets can cover many different currencies, not just the dollar. But bytemaster has a point in wanting to promote bitUSD first, because (whether we like it or not) USD is still the primary currency for much of the modern world and even more so in the tech world, which is where we find ourselves. But agreed, we need to focus on the idea of "virtual" or "crypto" currencies on the broad scale, not just bitUSD and to those within USD based economies.
Honestly bitUSD is fine for marketing to other countries especially countries who have a currency with very high inflation.
I think when delegates obtain the ability to inflate we should find some famous marketer and/or investor in a country like Argentina. They would run a delegate and could use that money to spread the word in that country.
-
I've always championed bitAssets over bitUSD and hope we can promote those as an idea first and foremost. After all, bitAssets can cover many different currencies, not just the dollar. But bytemaster has a point in wanting to promote bitUSD first, because (whether we like it or not) USD is still the primary currency for much of the modern world and even more so in the tech world, which is where we find ourselves. But agreed, we need to focus on the idea of "virtual" or "crypto" currencies on the broad scale, not just bitUSD and to those within USD based economies.
People in Argentina literally hide real USD under their mattresses as a store of value. They would go bonkers over BitUSD + yield. It's like selling water in a desert.
I think when delegates obtain the ability to inflate we should find some famous marketer and/or investor in a country like Argentina. They would run a delegate and could use that money to spread the word in that country.
Using a delegate position as an Argentinean "marketing node" is a fantastic idea.
-
People in Greece will soon literally hide Eur in their mattresses in a couple of months and by the end of 2015 people in Italy, Portugal and Spain as well...
-
People in Greece will soon literally hide Eur in their mattresses in a couple of months and by the end of 2015 people in Italy, Portugal and Spain as well...
The lost opportunities for establishing network effect in niche markets is driving me nuts.
-
People in Greece will soon literally hide Eur in their mattresses in a couple of months and by the end of 2015 people in Italy, Portugal and Spain as well...
The lost opportunities for establishing network effect in niche markets is driving me nuts.
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
-
People in Greece will soon literally hide Eur in their mattresses in a couple of months and by the end of 2015 people in Italy, Portugal and Spain as well...
The lost opportunities for establishing network effect in niche markets is driving me nuts.
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
Once the client is fully stable, the new BTS is launched, security is maximized and the most idiot can secure offline his holdings, the trading platform is user friendly like all the trading platforms out there, white papers describing cooperatives and the new BTS then I promise you that nothing is going to stop me and expect huge new capitals injections to BTS from many new investors that haven't heard of bitcoin...
-
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
I understand what you're saying. I'm an independently wealthy serial entrepreneur with too much time on my hands and an obsession with BitShares, why not just go do it? The problem is, I'm already spending too much time on this as it is (according to my girlfriend who now lovingly refers to BitShares as BitShits :P) and bootstrapping network effect in the aforementioned niches will require [small] seed capital (not to mention a significant time commitment). Posting on these forums in the hopes my ideas get through to the Invictus hivemind is just about the best thing I can do right now. I'm open to suggestions.
-
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
I understand what you're saying. I'm an independently wealthy serial entrepreneur with too much time on my hands and an obsession with BitShares, why not just go do it? The problem is, I'm already spending too much time on this as it is (according to my girlfriend who now lovingly refers to BitShares as BitShits :P) and bootstrapping network effect in the aforementioned niches will require [small] seed capital (not to mention a significant time commitment). Posting on these forums in the hopes my ideas get through to the Invictus hivemind is just about the best thing I can do right now. I'm open to suggestions.
What about becoming a delegate with dilution once that feature launches? I would vote for you and I'm sure lots of others would.
-
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
I understand what you're saying. I'm an independently wealthy serial entrepreneur with too much time on my hands and an obsession with BitShares, why not just go do it? The problem is, I'm already spending too much time on this as it is (according to my girlfriend who now lovingly refers to BitShares as BitShits :P) and bootstrapping network effect in the aforementioned niches will require [small] seed capital (not to mention a significant time commitment). Posting on these forums in the hopes my ideas get through to the Invictus hivemind is just about the best thing I can do right now. I'm open to suggestions.
What about becoming a delegate with dilution once that feature launches? I would vote for you and I'm sure lots of others would.
Also, hire your girlfriend so you get double-credit for time spent talking business with her. :)
-
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
I understand what you're saying. I'm an independently wealthy serial entrepreneur with too much time on my hands and an obsession with BitShares, why not just go do it? The problem is, I'm already spending too much time on this as it is (according to my girlfriend who now lovingly refers to BitShares as BitShits :P) and bootstrapping network effect in the aforementioned niches will require [small] seed capital (not to mention a significant time commitment). Posting on these forums in the hopes my ideas get through to the Invictus hivemind is just about the best thing I can do right now. I'm open to suggestions.
What about becoming a delegate with dilution once that feature launches? I would vote for you and I'm sure lots of others would.
Also, hire your girlfriend so you get double-credit for time spent talking business with her. :)
Haha! Careful there. I talked to a guy worth millions who plays golf all day. He lists "Data Input" as his occupation on his tax returns. Red flagged for an IRS audit...
-
Who are you waiting for?
This is a decentralized industry.
Anyone with the vision and skills should grab a niche and get going.
You clearly have both. :)
I understand what you're saying. I'm an independently wealthy serial entrepreneur with too much time on my hands and an obsession with BitShares, why not just go do it? The problem is, I'm already spending too much time on this as it is (according to my girlfriend who now lovingly refers to BitShares as BitShits :P) and bootstrapping network effect in the aforementioned niches will require [small] seed capital (not to mention a significant time commitment). Posting on these forums in the hopes my ideas get through to the Invictus hivemind is just about the best thing I can do right now. I'm open to suggestions.
What about becoming a delegate with dilution once that feature launches? I would vote for you and I'm sure lots of others would.
Also, hire your girlfriend so you get double-credit for time spent talking business with her. :)
Haha! Careful there. I talked to a guy worth millions who plays golf all day. He lists "Data Input" as his occupation on his tax returns. Red flagged for an IRS audit...
If I pay her in BitUSD how will they ever know? ;D
-
Pardon me for keeping this off topic, but getting bitshares and bitusd accepted by the fairer half of the population is kinda, sorta essential. If they all think of it as bitshits, no matter how fertile we make the concept out to be, it would be an uphill battle before they will smell the roses.
PS
Eventhough I had a bit of fun with the topic such as trying to plant the image of mountaineering a pile of doodoo deep down I am somewhat serious about this.
PSPS
Damn I did it again, but honestly who can keep a straight face when talking about women and shit at the same time?
-
Pardon me for keeping this off topic, but getting bitshares and bitusd accepted by the fairer half of the population is kinda, sorta essential. If they all think of it as bitshits, no matter how fertile we make the concept out to be, it would be an uphill battle before they will smell the roses.
True, but there are two counter factors. (1) There are far fewer women in technical areas. High tech fields are male dominated. Many of the people who have found BitShares thus far have some technical understanding of it. This means there are fewer early adopters among women. (2) Studies have shown that when it comes to investing, men take bigger risks than women do. Women are much more conservative with their money choices. The funny thing is that both approaches end up with about the same results when it comes to investing studies that I've seen.
I think if we make it simple and useful for everyone, we will have no shortage of women and men who wish to use BitShares.
-
True, but there are two counter factors. (1) There are far fewer women in technical areas. High tech fields are male dominated. Many of the people who have found BitShares thus far have some technical understanding of it. This means there are fewer early adopters among women. (2) Studies have shown that when it comes to investing, men take bigger risks than women do. Women are much more conservative with their money choices. The funny thing is that both approaches end up with about the same results when it comes to investing studies that I've seen.
I think if we make it simple and useful for everyone, we will have no shortage of women and men who wish to use BitShares.
1. Where I live women like spending money and seem to have no trouble scaling any technical hurdle to do it.
2. Where do you live? Which translates to: Where can I find me one of those financially conservative women?
3. Where is your subtle excremetion point?
-
Is there any women on this board?
-
Is there any women on this board?
One unconfirmed - i.e. nobody has met her in real life.
One that wanted to give BM a baby... but it turn out to be just a Chinese saying.
One that people hope/suspect she is reading this forum, but I am 99% sure she does not.
:)
-
As I mentioned before, women will come on board when someone makes the Fashion Dac
-
Is there any women on this board?
It would be kinda sad if the best representative of women is our "feminine" side.
Btw:
If one of the potentially 3 women that tonyk has spared no time, effort nor expensive to sniff out, reading this is wondering, no you don't have a male side. If you are feeling somewhat irritated by that fact just imagine the possibility of a male with no feminine side at all.
PS
Yes I did just plant the image of TonyK sniffing out women, mwuahahahaha, language is such a wonderful thing, the things you can do with it.
-
Is there any women on this board?
It would be kinda sad if the best representative of women is our "feminine" side.
Btw:
If one of the potentially 3 women that tonyk has spared no time, effort nor expensive to sniff out, reading this is wondering, no you don't have a male side. If you are feeling somewhat irritated by that fact just imagine the possibility of a male with no feminine side at all.
PS
Yes I did just plant the image of TonyK sniffing out women, mwuahahahaha, language is such a wonderful thing, the things you can do with it.
I have no idea how powerful language is. I read this 4 times, I know there is some insult towards me in it and yet I could not quite get it, before you outright said you have painted a picture...
-
Where do you live?
Mars.
But I'm going off studies of investment behavior, probably mostly in the United States. I don't dispute that women like to spend money. I was talking about the investment mindset.
So go ahead and set up some shopping malls if you want. :D
-
I do think South America market is more attracting than North America. Because North America is developed, all new things which have potential to break the current rules will be confined.
-
I do think South America market is more attracting than North America. Because North America is developed, all new things which have potential to break the current rules will be confined.
And don't forget, BitUSD is the U.S. dollar equivalent. RealUSD is either hard to get or expensive to obtain. When one's own local currency has rampant inflation, BitUSD could be a very attractive store of value/wealth.
-
I do think South America market is more attracting than North America. Because North America is developed, all new things which have potential to break the current rules will be confined.
And don't forget, BitUSD is the U.S. dollar equivalent. RealUSD is either hard to get or expensive to obtain. When one's own local currency has rampant inflation, BitUSD could be a very attractive store of value/wealth.
Argentina should go NUTS for BitUSD when you consider the yield. They get security, stability AND more interest than any traditional bank.
-
whats the plan on making them support it?
also if ppl buy bitusd, does the bitsharex price go up? i am confused how this works
-
whats the plan on making them support it?
also if ppl buy bitusd, does the bitsharex price go up? i am confused how this works
kurva
Welcome aboard!
I am a big fan of new, fast typing, opinionated, informed account holders like you!
-
whats the plan on making them support it?
I'm interested in hearing the plan as well. It might be hard to convince people to trust it. Imagine someone telling you that you could get 25% ROI
on your investment every year. You would think "that's too good to be true".
Argentinian: "Wait so your saying if I put my money in bitUSD I will only experience the same inflation as the USD... Interesting"
"What, I'll also get more interest than at a conventional bank and it's more secure?"
"Yea right.... SCAM!"
"I'll just leave my USD under my mattress."
It will be difficult unless we can get someone who is well known and trusted in the country to stand behind it.
also if ppl buy bitusd, does the bitsharex price go up? i am confused how this works
Yes if people buy bitUSD bitshares price goes up. The reason is bitshares is used as collateral for every bitUSD created.
-
whats the plan on making them support it?
also if ppl buy bitusd, does the bitsharex price go up? i am confused how this works
kurva
Welcome aboard!
I am a big fan of new, fast typing, opinionated, informed account holders like you!
Tonyk...ftw. :D +5%
-
Where do you live?
Mars.
But I'm going off studies of investment behavior, probably mostly in the United States. I don't dispute that women like to spend money. I was talking about the investment mindset.
So go ahead and set up some shopping malls if you want. :D
Mars, damn. Last I heard this multistage rocket I'm hitching a ride on was only planning on going to the moon. Then again, once I'm out of this gravity well it should be easier to catch a ride to mars from there.
BitUsd shopping malls, hmm, too bad I don't have the resources or money for that. Best I could do is sell 3d-printed nail-extensions and jewelry for bitusd.