Author Topic: A marketing idea? Whitepaper? Strategy? request? Either way I think its is gold.  (Read 14094 times)

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Offline fav

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To someone elses point, I do not see why fees should increase at all.  I would like to learn why you think they should.  remember digital currency is very divisible.  The 0.5 bts fee can be divided many ways.

the minimum fee is 0.1 - I think that could be a problem.

Offline fav

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Great ideas Max and this is in line with various ideas that have been floating around our lunch discussions. 

The primary challenge we face is that there is nothing stopping everyone from simply "referring themselves" and then using the account N levels down so they get the rebate on all of their transaction fees.   

You solve this somewhat with the $20 fee to create a participating account.   This fee would prevent all abuse from anyone generating less than $20 in transaction fees per year.  4000 transactions per year at $0.01 per transaction assuming 50% of fees go to the referrer.   

I think the $20 fee could be seen as a pyramid scheme where the bottom of the pyramid never makes their money back.     On the other hand, if you can convince just 2 people to sign up then your fee is covered.  So it seems like a low enough barrier to anyone who is passionate about the concept.   

Technically it is all possible.

 +5% +5%

Offline luckybit

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Great ideas Max and this is in line with various ideas that have been floating around our lunch discussions. 

The primary challenge we face is that there is nothing stopping everyone from simply "referring themselves" and then using the account N levels down so they get the rebate on all of their transaction fees.   

You solve this somewhat with the $20 fee to create a participating account.   This fee would prevent all abuse from anyone generating less than $20 in transaction fees per year.  4000 transactions per year at $0.01 per transaction assuming 50% of fees go to the referrer.   

I think the $20 fee could be seen as a pyramid scheme where the bottom of the pyramid never makes their money back.     On the other hand, if you can convince just 2 people to sign up then your fee is covered.  So it seems like a low enough barrier to anyone who is passionate about the concept.   

Technically it is all possible.

Why not connect it to Facebook so that you can do it right? Just about everyone is on Facebook now and Facebook checks for ID.

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Offline fav

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Why not connect it to Facebook so that you can do it right? Just about everyone is on Facebook now and Facebook checks for ID.

then you buy 10 fb accounts for $5 and it'll help no one. keep it within our resources, and keep it decentralized.

Offline triox

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As far as implementing this though... Would this be something we want before 1.0 or maybe a version afterwards?

Having this ready for 1.0 would let us do a big official launch with legend-level marketers pushing bitshares to their armies of lesser marketers who in turn sell to their individual niches.

The trend in consumer facing technology is to gain mass adoption as quickly as possible and that is even truer in mass market financial tech. When it comes to gaining critical mass of users, a coordinated MLM product launch is a force to behold.

Offline nomoreheroes7

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Why not connect it to Facebook so that you can do it right? Just about everyone is on Facebook now and Facebook checks for ID.

then you buy 10 fb accounts for $5 and it'll help no one. keep it within our resources, and keep it decentralized.

lol sounds like a good use-case for VOTE's identity verification system thingy.

I agree this is a great idea, and some form of it should seriously be considered for implementation ASAP.

Offline davidpbrown

ASAP but KISS.. and obviously we'll need a league table to see the real impact and learn from who's doing what and how.. kudos can be as valuable as BTS!
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Offline luckybit

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Why not connect it to Facebook so that you can do it right? Just about everyone is on Facebook now and Facebook checks for ID.

then you buy 10 fb accounts for $5 and it'll help no one. keep it within our resources, and keep it decentralized.

You can't buy Facebook accounts anymore. They are cracking down making people give their state ID to use Facebook.

http://www.theblaze.com/stories/2013/10/29/absurd-facebook-requesting-government-id-to-unlock-accounts-again/
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Offline fav

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Why not connect it to Facebook so that you can do it right? Just about everyone is on Facebook now and Facebook checks for ID.

then you buy 10 fb accounts for $5 and it'll help no one. keep it within our resources, and keep it decentralized.

You can't buy Facebook accounts anymore. They are cracking down making people give their state ID to use Facebook.

http://www.theblaze.com/stories/2013/10/29/absurd-facebook-requesting-government-id-to-unlock-accounts-again/

you can, of course. facebook gets the finger in europe for jokes like this. just because it's not possible in US doesn't mean it's impossible in general ;)

Offline cube

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Quote
I just upgraded to 8.0 and it took almost a whole day which include countless crashes.

That is very odd because I did the upgrade in 30 minutes with no crashes and a complete re-download of the blockchain.

Not if you upgrade from a much older version.  The older chain causes crashes and resync in one of my pcs.
« Last Edit: March 26, 2015, 04:42:27 pm by cube »
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Offline oldman

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Great ideas Max and this is in line with various ideas that have been floating around our lunch discussions. 

The primary challenge we face is that there is nothing stopping everyone from simply "referring themselves" and then using the account N levels down so they get the rebate on all of their transaction fees.   

You solve this somewhat with the $20 fee to create a participating account.   This fee would prevent all abuse from anyone generating less than $20 in transaction fees per year.  4000 transactions per year at $0.01 per transaction assuming 50% of fees go to the referrer.   

I think the $20 fee could be seen as a pyramid scheme where the bottom of the pyramid never makes their money back.     On the other hand, if you can convince just 2 people to sign up then your fee is covered.  So it seems like a low enough barrier to anyone who is passionate about the concept.   

Technically it is all possible.

 +5% +5%

Pure genius.

I would vote for implementation asap.

This would allow people to 'work' for BTS without becoming a delegate; the implications for adoption are mind boggling.

$1 fee to lock in each year of revenue claim, up to a maximum of 20 years (max fee would be $20).

Revenue split 60% to referrer and 40% to BTS shareholders.

Holy shit.

I hate to say it but this should be implemented prior to 1.0 and marketed heavily on release of 1.0.

If the devs can pull this off we could be looking at one of the fastest growing businesses in human history. BTS could go completely exponential on a global scale.

I just spent a few weeks in SE Asia; everyone seems to have a smart phone. Community networks are strong and this would spread like wildfire. BTS could provide an economic opportunity to millions.

This platform just keeps blowing my mind.


Offline cube

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Great ideas Max and this is in line with various ideas that have been floating around our lunch discussions. 

The primary challenge we face is that there is nothing stopping everyone from simply "referring themselves" and then using the account N levels down so they get the rebate on all of their transaction fees.   

You solve this somewhat with the $20 fee to create a participating account.   This fee would prevent all abuse from anyone generating less than $20 in transaction fees per year.  4000 transactions per year at $0.01 per transaction assuming 50% of fees go to the referrer.   

I think the $20 fee could be seen as a pyramid scheme where the bottom of the pyramid never makes their money back.     On the other hand, if you can convince just 2 people to sign up then your fee is covered.  So it seems like a low enough barrier to anyone who is passionate about the concept.   

Technically it is all possible.

The idea sounds good. But watchout for some jurisdictions where pyramids/mlms are illegal.
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Offline hrossik

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This referal program would make it so easy to earn money in a way so different from the original idea of BitShares, that its ponziness would defeat BitShares' original purpose. Yes, it would probably bring many new people to the system. But what kind of people? People, who will suddenly realize how good BitShares are, or people who just want to get rich on the referal program?

From wikipedia:
Quote
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

I would prefer to stick to the original values we wanted to promote, not the "get rich fast" values. Once the original ideas get implemented, we will earn profit from the right thing instead of this obscure mechanism.
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Offline Ben Mason

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This referal program would make it so easy to earn money in a way so different from the original idea of BitShares, that its ponziness would defeat BitShares' original purpose. Yes, it would probably bring many new people to the system. But what kind of people? People, who will suddenly realize how good BitShares are, or people who just want to get rich on the referal program?

From wikipedia:
Quote
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

I would prefer to stick to the original values we wanted to promote, not the "get rich fast" values. Once the original ideas get implemented, we will earn profit from the right thing instead of this obscure mechanism.

I agree.  I was hoping people would come to BitShares because their own search for integrity led them here.  The principals on which BitShares has been built is of vital importance.   Then the other reason would be the incredible utility of BitShares which simply makes it the market choice....this point doesn't feel so far away.

Offline fuzzy

This referal program would make it so easy to earn money in a way so different from the original idea of BitShares, that its ponziness would defeat BitShares' original purpose. Yes, it would probably bring many new people to the system. But what kind of people? People, who will suddenly realize how good BitShares are, or people who just want to get rich on the referal program?

From wikipedia:
Quote
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

I would prefer to stick to the original values we wanted to promote, not the "get rich fast" values. Once the original ideas get implemented, we will earn profit from the right thing instead of this obscure mechanism.

I would prefer this too, hrossik...but I am also an idealist to a fault.  And I know it.  Sometimes we have to look at the reality of a situation and be willing to take off our rose-colored glasses to realize that the majority of the cryptocommunity no longer really gives two craps about what they cared about when they first set out loving bitcoin.  Greed gets in the way. 

I'm not saying we shouldn't strive to continue working with the original philosophy though, which is why I will continue trying to keep the devs, delegates and community closely tied together to ensure everyone has a voice and is willing to ask the tough questions when necessary. 
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