What does a BitUSD early adopter look like?

[Geneko]

I am sorry I miss up this tread. There is lot of noise around here these days. That’s what you are doing is very important and I have promised to support you as future dev delegate. Until then here is some of my thoughts on a topic.

You have probably hear story of Obvious Adams from Jay Abraham. If not please check here:
 http://lcweb2.loc.gov/service/gdc/scd0001/2006/20060721003ob/20060721003ob.pdf

I think Obvious Adams would probably go after LocalBitcoins community (LBC) but before any objections to that mater I would like to explain my meaning.

There are about 500 alt coins out there. Majority of them are POW. There are also bunch of unemployed tech related young people 18-35 who mines them, searching for easy buck. Guess what, in a time where they could only find low wage manually labored job, they are doing cool stuff filling joy of independence, capability and usefulness.
 
Before continue, I would like to point to one major things I have learn about marketing. In a marketing you are basically after peoples fillings not after theirs reasoning.

They also like socializing, spending time on forums and social networks talking about their mining rigs and cool new POW coins. In those groups few of them are specialized in whole selling, trading and on-off ramps for fiat. Those are also most active members of LBC. There is no need to talk about issues they are facing with various crypto exchanges except they have strong need for hedging against crypto fluctuations and also dealing with KYC procedures and fees from different on-off ramps such as Banks. The crypto community, as whole is facing growing regulators interest, so in the future things are only going to be worst. That’s why they are using Localbitcoins on the first place.

Now, there are probably more niche groups in LBC that should be explored. They all have strong need for Bitusd but probably have different approach model.

Those people I mentioned above, would be the most obvious early adapters of Bitusd. You only need few of them and they will do the rest of marketing for you. They will spread a word for you, so fast, in a way that most expensive marketing campaign would look like work of amateur.

I hope this could be useful anyway keep up with good work. 

[mira]

I can be such an idiot! 

After stumbling onto Bitshares just over a month ago I quickly locked in, then became consumed with familiarizing myself (and trying to keep pace) with the terrain of new words and concepts on this forum. 

And with a bazillion questions whose answers I'm not even equipped to evaluate:  Did bytemaster validate the Nash Equilibrium?  Solve the problem of consensus?  And if so, how does that change things on the ground?   How does all of this translate into non violence, or even how is any of it applicable to those who aren't software developers, crypto-financial speculators, or those creating digitizable assets?         onandonandon blah blah

I finally revisited the Further Reading section of the wiki, along with much older posts on this forum, and it hit: 

The Big Thunder Shock - Epiphany!

How has obviously been articulated more than thoroughly (re:my silly previous post).  What you are all actually doing blows my mind.


*And thank you, Gonzo, for taking the time for your version of the "how" pitch. 

[carpet ride]

from https://bitsharestalk.org/index.php?topic=10828.30

I think the How, and not just how the features of BitShares work, but How is it going to change the world is what most needs more thorough articulating.

One version of the "how" pitch. I'd be curious to see others.  How starts with what the fundamental components of business are. (1) "transaction ledger" aka value in, value out or cash in cash out. (2) "overhead" or the structure for supporting the transaction ledgers to maximize retained value - this could be buildings, physical inventory, manpower, etc. and (3) "reputation" which lends itself to the degree of stickiness that a transaction ledger has or the number of other transaction ledgers linked up to the transaction ledgers in question.

BitShares figured out that "transaction ledgers" and "reputation" can be built into the World Wide Web. This now means that any business whose core components are ledgers and reputation, such as banks and stock exchanges, can be built and run with out any of the costs of traditional businesses, saving all people using these businesses tons of money, and creating a huge net gain for the economy at large.

Sent from my iPhone using Tapatalk

[mira]

from https://bitsharestalk.org/index.php?topic=10828.30

We hodl these truths to be self evident, that all men are created equal with certain inalienable rights that among these are Life, Liberty and Property....

Could we change the nouns?

Are you the mythical crypto female???

Instead of derailing the other thread, thought I'd answer your question here.  I highly doubt that I'm "the" mythical crypto female, as I haven't done anything to warrant mythical, or even noteworthy status (at least not until PeerTracks is up and running  )

I don't meet any of the criteria of your ideal early adopter, yet here I am, and can offer one anomaly's perspective:

I'm not sure that it's the Why bytemaster referred to in an earlier post that will attract most of the early adopters, the need for systems that contribute to freedom and justice is apparent. (but how software can do that is not yet apparent to many)
I think the Why is most useful as reminders to those already amidst the trials and travails of early adoption.

 And the What that toast explained as "experimental financial instruments which use cryptocurrency + price information to make decentralized digital tokens that can price-track a dollar, oz of gold, etc without a counterparty" doesn't help us plebians much. 

I think the How, and not just how the features of BitShares work, but How is it going to change the world is what most needs more thorough articulating.

[amencon]

Alright, but I would add to the list that virtually all early adopters were familiar with /users of bitcoin before coming to BitShares.

I'm trying to look past the crypto community and identify who is most likely to use a BitAsset going forward. What type of person is most likely to convert into a user, not just a wealthy Western speculator...

I see BitShares as a company that offers products (BitAssets) to niche markets that need them most. Wealthy Western speculators will be the ones buying up BTS if they see the product BitShares offers getting adoption. Apple has to sell its computers before investors will buy APPL.

A BitAsset customer will look very different than a BTS investor.

I like your methodology Method, with multiple parties marketing Bitshares and its bitAssets I think that we can afford to have them individually target niche markets.  I think you're correct that successfully closely arch-typing likely conversions for your specific marketing campaigns will result in higher adoption per dollar spent overall.

[bitmarket]

I like the latin american angle.   Clicks cost a penny there.  A campaign like "Beat Christina" (Argentina's prez) or "Beat the banks" 

I Think the critical components are a smart phone wallet and a Mycelium? is it?  localbitcoins style app for bitUSD.   

[Empirical1.1]

We might want to take a hard look at Germany and other Eurozone demographics.

Lots of unemployed, tech-savvy 15-35 year olds.

Some German bank is now pushing negative interest rates on balances.

Could not be a more opportune time to reach out with a mobile wallet and yield-bearing bitAssets.

 

https://bitsharestalk.org/index.php?topic=10770.0

I think it only effects larger amounts at the moment, but yes, that is the kind of thing that will help drive mainstream our way for sure. (As I said in the other thread, negative interest rates have a BIG psychological effect.)

[xeroc]

We might want to take a hard look at Germany and other Eurozone demographics.

Lots of unemployed, tech-savvy 15-35 year olds.

Some German bank is now pushing negative interest rates on balances.

Could not be a more opportune time to reach out with a mobile wallet and yield-bearing bitAssets.

*agreed* .. however, even bitcoin is only purely known in Germany .. though the government has released clear rules how to deal with them ..

[oldman]

We might want to take a hard look at Germany and other Eurozone demographics.

Lots of unemployed, tech-savvy 15-35 year olds.

Some German bank is now pushing negative interest rates on balances.

Could not be a more opportune time to reach out with a mobile wallet and yield-bearing bitAssets.

[toast]

 

The message to people who *could* understand the entire idea in 5 seconds are not well-formulated enough for it to be popular with people who should get it. I think we will find a lot of evangelists by being able to *actually just explain what it is*.

"These are experimental financial instruments which use cryptocurrency + price information to make decentralized digital tokens that can price-track a dollar, oz of gold, etc without a counterparty"

[Tuck Fheman]

Age: 16-96 conglomerate
Sex: both
Education: autodidact
Occupation: self-employed
Political: no rulers
Location: north america

[nomoreheroes7]

Age: 18 - 35  Check
Sex: Male  Check
Education: University  Check
Occupation: Tech related  Accountant...hobbies/interests are tech-related
Political: Libertarian  Check
Location: Latin America  nah, USA

[Empirical1.1]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

I largely agree with that, Latin America will be our strongest & most lucrative early adopters outside the existing but small Bitcoin demographic.

Our current CAP & community is mostly taken from the Bitcoin/Alt-coin group & I think we could do more to win our own market. It would be nice to be a solid no.2 before expanding beyond it but perhaps focusing on markets beyond crypto will scoop up a lot of the rest of crypto on the way.

I would say a BTS early adopter is much like a Bitcoin user, except we have utility Bitcoin doesn't have in the form of BitAssets which has huge appeal in places with highly volatile/depreciating currencies and limited access to alternatives. Early adopters in the rest of the world outside Bitcoin users, would probably be Libertarian leaning so I like Bytemasters thoughts here for that - https://bitsharestalk.org/index.php?topic=10620.0

Latin America esp. Argentina - Starting with existing Bitcoin demographic

This is where the use case is so compelling, people outside the existing Bitcoin demographic will rapidly adopt BitUSD as it is with limited development. The market size is also very big. The easiest way to get in there though is probably via the Bitcoin door.

Libertarians/Independence minded people - Starting with Bitcoin demographic

Brand BTS as being similar to their values, so that it appeals to a wider group of Libertarians not just tech savvy 18-35 Males, we can expand our market to include older males & some females that are non techie but are willing to expand outside their comfort zone as it appeals to their ideology.

The other groups to expand to I wouldn't consider early adopters as they need a lot more on the technical development & utility side as well as expensive promotion and bonus campaigns to get their interest. It's not a bad idea to get the basics in place though as a financial crisis could happen at anytime in which case our early adopter base will expand to encompass a very wide net.

Other Potential target niches

Merchants - I also think BitAssets have a lot of appeal for merchants because unlike a volatile Bitcoin they can sell in BitUSD, stay in BitUSD, earn yield, pay suppliers in BitUSD + other advantages.

Traders - I also think traders are a potential market. They will be more familiar with these type of clients, the fees may be cheaper, yield lucrative and of course BitAssets have some unique advantages.

[zerosum]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

Location doesn't matter but I do understand where you're coming from. I think this is pretty much true but you should at least collect some statistics to put as references rather than just putting out gut feelings which could be incorrect.

It seems the typical demographics that will like Bitcoin will also like BitUSD. But I think with BitUSD you should also consider whether or not they are nationalist in orientation. Also libertarianism isn't necessarily popular in Latin America so you have to figure out what political views exist there and appeal to that.

I don't think I've met many libertarians from Latin America.

I do not know where the tech-savvy Latin Americans are hanging those days, but I dare to say that the number of them being in the BTS crowd is dangerously close to the number of  females around here.

[luckybit]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

Location doesn't matter but I do understand where you're coming from. I think this is pretty much true but you should at least collect some statistics to put as references rather than just putting out gut feelings which could be incorrect.

It seems the typical demographics that will like Bitcoin will also like BitUSD. But I think with BitUSD you should also consider whether or not they are nationalist in orientation. Also libertarianism isn't necessarily popular in Latin America so you have to figure out what political views exist there and appeal to that.

I don't think I've met many libertarians from Latin America.

[sschechter]

Hahahahaha 

[liondani]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

[Method-X]

Alright, but I would add to the list that virtually all early adopters were familiar with /users of bitcoin before coming to BitShares.

I'm trying to look past the crypto community and identify who is most likely to use a BitAsset going forward. What type of person is most likely to convert into a user, not just a wealthy Western speculator...

I see BitShares as a company that offers products (BitAssets) to niche markets that need them most. Wealthy Western speculators will be the ones buying up BTS if they see the product BitShares offers getting adoption. Apple has to sell its computers before investors will buy APPL.

A BitAsset customer will look very different than a BTS investor.

[onceuponatime]

While your ideal early adopter demographic sounds good in theory, my question would be: How come so very, very few of we early adopters fit your ideal? domographic?

I would say besides the "Latin America" category (no marketing in that area), we all fit the bill quite nicely.

Alright, but I would add to the list that virtually all early adopters were familiar with /users of bitcoin before coming to BitShares.

[russkroe]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

While your ideal early adopter demographic sounds good in theory, my question would be: How come so very, very few of we early adopters fit your ideal? domographic?

Agreed. I think that the Location needs some work. Other than that I fit into it except you may want to broaden the occupation to include Finance/Economics. I'm sure I'm not the only individual who follows Austrian economics in this forum.

Most of the Tech related posts/concepts are over my head, but I know there are a lot of economists/finance professionals would be sold on the idea of Bitshares. Especially if they lean libertarian.

[Method-X]

While your ideal early adopter demographic sounds good in theory, my question would be: How come so very, very few of we early adopters fit your ideal? domographic?

I would say besides the "Latin America" category (no marketing in that area), we all fit the bill quite nicely.

[onceuponatime]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America

While your ideal early adopter demographic sounds good in theory, my question would be: How come so very, very few of we early adopters fit your ideal? domographic?

[Method-X]

It's standard marketing practice to clearly define what an early adopter (of your product) looks like. It's not sufficient to say "lets target everyone". You need to target a very narrow band if you want conversion rate to be high. Here's how I see the ideal early adopter of BitUSD and other BitAssets:

Age: 18 - 35
Sex: Male
Education: University
Occupation: Tech related
Political: Libertarian
Location: Latin America