Marketing Bounties to Spread Awareness

[bytemaster]

When I get animated and start pitching the idea of insuring poor villages in the Developing World by having the villagers take the long side of a bet that they will suffer disaster, and having gamblers worldwide bet that they won't, people back away slowly and avoid making eye contact with me.

LOL

[CWEvans]

I think the reason most people don't fundamentally understand what Invictus and Ethereum are striving towards is because people don't have the foundational knowledge necessary to even begin understanding.

For instance, people don't grasp/understand or want to accept the the world of money is like a religion and as long as people have 'faith' in something it is accepted as true. Regardless of whether it is rational or not.

If there is a lack of understanding of how traditional banking and monetary institutions work than it makes understanding the significance of your work a little harder to understand. However, people do have a gut feeling that the system is inefficient and that your work holds great promise.

I've been teaching Economics and Finance for the past decade. When I explain  to my students how the Fed creates new USD, the looks of incredulity that I see indicate that this is the first time that anyone has explained it to them.

I have a little box that looks like a treasure chest with poker chips, Dr. Seuss figures, and Monopoly money in it that I use to explain Bitcoin to people. The idea that some D&D geeks breathed value into ephemeral tokens is more than many can accept. To many more, the idea that anything that trades as an asset, including exotic combinations of assets, can be traded as a similarly ephemeral BitAsset is crazy-talk.

When I get animated and start pitching the idea of insuring poor villages in the Developing World by having the villagers take the long side of a bet that they will suffer disaster, and having gamblers worldwide bet that they won't, people back away slowly and avoid making eye contact with me.

[CWEvans]

Not realizing that this topic had be started three days prior, I posted this: https://bitsharestalk.org/index.php?topic=2887.0 about coffee.

If the quantity of BitStuff were a small fraction of the amount of ActualStuff in the world, then BitStuff could appear to be backed by inventory in the possession of low-cost producers.

The price that one observes is the value of the most recent transaction that splits the market between bears (pessimists) and bulls (optimists). Among suppliers in a competitive market will be those at the one extreme whose production costs are greater than the prevailing price, who are priced out of the market, and those at the other extreme whose production costs are less than the prevailing price, who are making tidy profits.

If, for example, a low-cost supplier of ActualStuff sold to a local monopsony (one-buyer) market, as is the case in much of the Developing World, then that supplier might be able to deal directly with holders of BitStuff. Although there were no contractual obligation to back BitStuff with ActualStuff, it might feel to a casual observer as if it were.

[yellowecho]

This is exactly what I would suspect would happen.  Imagine gas stations that priced their Gas as 1.0x times the value of 1 BitGallonOfGas.    Gas stations would thus be competing on the premium for facilitating delivery rather than hiding it all in the gas price itself.   

The DAC concept and pricing mechanism is so simple, flexible, and beautiful... it could change the way the world views consumption and the role of capitalism.  Since BitPetrol would be the same of all gas stations, customers would actually be paying a premium based on the services and user experience of the facility.

[bytemaster]

Of course there would be bullion sellers offering to give you one gramm of gold for an amount of BitGold worth one gramm of gold (less a margin) - but this seems trivial, a bit like this: http://www.nofiatcoin.com

That's what I was thinking.. a bullion seller could offer 1oz worth of physical for 1oz worth of BitGold.  It may not be so trivial because sellers could charge a premium for physical and earn money on the premium.  This actually might be enticing because it enables sellers to maintain their position in gold without having to convert to another currency.  If a seller sold physical for BTC then they'd lose their gold position and gain a BTC (or USD) position which may not be desirable.

This is exactly what I would suspect would happen.  Imagine gas stations that priced their Gas as 1.0x times the value of 1 BitGallonOfGas.    Gas stations would thus be competing on the premium for facilitating delivery rather than hiding it all in the gas price itself.   

Likewise a gold dealer can earn income in gold by facilitating the movement of physical gold from one person to another without ever taking a USD position.   They can sell gold for 1.05 BitGold and buy gold for .95 BitGold.   The price is easy and predictable for customers and they could pick their gold dealer based upon the best spread. 

[yellowecho]

Of course there would be bullion sellers offering to give you one gramm of gold for an amount of BitGold worth one gramm of gold (less a margin) - but this seems trivial, a bit like this: http://www.nofiatcoin.com

That's what I was thinking.. a bullion seller could offer 1oz worth of physical for 1oz worth of BitGold.  It may not be so trivial because sellers could charge a premium for physical and earn money on the premium.  This actually might be enticing because it enables sellers to maintain their position in gold without having to convert to another currency.  If a seller sold physical for BTC then they'd lose their gold position and gain a BTC (or USD) position which may not be desirable.

[Markus]

I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...

Correct me if I'm wrong, but it seems like it'd be very easy to back BitGold with physical gold.  All it would take is a single seller of bullion to recognize Bitshares X as a legitimate banking institution and BitGold could be redeemed for physical metal at their establishment.  It would actually work in a similar manner as the ETF PHYS except it would be even more liquid since PHYS requires a very sizable amount in order to take delivery.  Or am I missing something?

Do you mean that a bullion seller would offer physical gold you can buy as BitGold and you have the option to have the physical gold delivered to you whenever to opt for that?

No bullion seller could guarantee to back any amount of BitGold. Also no bullion seller would back BitGold if BitGold would lose its value (due to lack of trust or whatever).

Of course there would be bullion sellers offering to give you one gramm of gold for an amount of BitGold worth one gramm of gold (less a margin) - but this seems trivial, a bit like this: http://www.nofiatcoin.com

[santaclause102]

I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...

Correct me if I'm wrong, but it seems like it'd be very easy to back BitGold with physical gold.  All it would take is a single seller of bullion to recognize Bitshares X as a legitimate banking institution and BitGold could be redeemed for physical metal at their establishment.  It would actually work in a similar manner as the ETF PHYS except it would be even more liquid since PHYS requires a very sizable amount in order to take delivery.  Or am I missing something?

Do you mean that a bullion seller would offer physical gold you can buy as BitGold and you have the option to have the physical gold delivered to you whenever to opt for that?

[jae208]

For some reason I see a ton of stuff about Ethereum wherever I go, but I don't see much about BTS, PTS, or AGS. This is a complete injustice to the work being done by Invictus and this community at large.

What if we established a Marketing Bounty program to help drive marketing, awareness, and adoption? If we can reward bounties to people for writing blogs, podcasts, Facebook pages, or articles, then include small bounties for people to share or post to major social media platforms, we can spread the message far and wide. We will have to reach a consensus in the community of message that we want to put forth, that way we can have some sort of impact on the narrative.

This community has some brilliant concepts with extremely talented devs, but we haven't even scratched the surface of what is capable. People need to know that this community exists, and if we don't market the concepts we could all potentially lose out in the end.

Marketing an idea is more important than the idea itself in many ways. Everyone should know what you guys are doing here.

The problem we face is that almost no one understands what we are doing here.   Few really understand Ethereum either, but that is beside the point.    The feedback I am given is that despite my interviews, long conversations, etc no one seems to really understand it at a level that they can explain to others.

On this forum I would assume that 90% like what we are doing without even understanding it all in detail.  These are people with good intuition, but intuition is sometimes hard to explain.  There are perhaps 10% that can start to explain how and why it works.   

This is what Brian Page is working night and day to solve.

I would also submit that we already have more than enough publicity at this stage in development.  Now a month after we have BitShares XT launched successfully then will be the time to really pile on the marketing.

i recall someone in the Miami conference thought you are creating A.I corporations that will eventually take over the world 

I think distributed blockchain technologies may be what gives rise to an AI..
Now technology is neither good nor evil so giving rise to an AI wouldn't necessarily be a bad thing.

[bytemaster]

I think Peter S. would actually like BitShares because it uses a stock metaphor rather than a currency metaphor.   

[JA]

I think it wount be that dificult to understand bitshares when it is out and works.
I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...
Reggie Middleton is a great guy and will do very well explaining bitshares...

[jae208]

I think it wount be that dificult to understand bitshares when it is out and works.
I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...
Reggie Middleton is a great guy and will do very well explaining bitshares...

[yellowecho]

I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...

Correct me if I'm wrong, but it seems like it'd be very easy to back BitGold with physical gold.  All it would take is a single seller of bullion to recognize Bitshares X as a legitimate banking institution and BitGold could be redeemed for physical metal at their establishment.  It would actually work in a similar manner as the ETF PHYS except it would be even more liquid since PHYS requires a very sizable amount in order to take delivery.  Or am I missing something? 

[Giga]

For some reason I see a ton of stuff about Ethereum wherever I go, but I don't see much about BTS, PTS, or AGS. This is a complete injustice to the work being done by Invictus and this community at large.

What if we established a Marketing Bounty program to help drive marketing, awareness, and adoption? If we can reward bounties to people for writing blogs, podcasts, Facebook pages, or articles, then include small bounties for people to share or post to major social media platforms, we can spread the message far and wide. We will have to reach a consensus in the community of message that we want to put forth, that way we can have some sort of impact on the narrative.

This community has some brilliant concepts with extremely talented devs, but we haven't even scratched the surface of what is capable. People need to know that this community exists, and if we don't market the concepts we could all potentially lose out in the end.

Marketing an idea is more important than the idea itself in many ways. Everyone should know what you guys are doing here.

The problem we face is that almost no one understands what we are doing here.   Few really understand Ethereum either, but that is beside the point.    The feedback I am given is that despite my interviews, long conversations, etc no one seems to really understand it at a level that they can explain to others.

On this forum I would assume that 90% like what we are doing without even understanding it all in detail.  These are people with good intuition, but intuition is sometimes hard to explain.  There are perhaps 10% that can start to explain how and why it works.   

This is what Brian Page is working night and day to solve.

I would also submit that we already have more than enough publicity at this stage in development.  Now a month after we have BitShares XT launched successfully then will be the time to really pile on the marketing.

i recall someone in the Miami conference thought you are creating A.I corporations that will eventually take over the world 

[santaclause102]

I think it wount be that dificult to understand bitshares when it is out and works.
I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...
Reggie Middleton is a great guy and will do very well explaining bitshares...

[bytemaster]

The problem we face is that almost no one understands what we are doing here.

After Bitshares XT launches and it's time to market, it might be a good idea to reach out to financial commentators that have been vocal in their support for asset-backed crytos.  I know their views can be controversial; however, individuals like Peter Schiff (and to a lesser extent Reggie Middleton) have a large media reach and could probably simplify and explain Bitshares in a way that others can easily understand.  Schiff has been negative and ignorant on Bitcoin but I honestly think he'd be fascinated and supportive of a BitGold and BitUSD DAC.
Bytemaster, after seeing your recent debate I think you'd do well explaining Bitshares to someone (like Schiff) that's actually knowledgeable in business, finance, and economics.  I think the problem lies in that the majority of people don't understand these concepts at a fundamental level.

We have already talked with Reggie Middleton and he likes what we are doing and is prepared to help when BitShares XT is out.

[yellowecho]

The problem we face is that almost no one understands what we are doing here.

After Bitshares XT launches and it's time to market, it might be a good idea to reach out to financial commentators that have been vocal in their support for asset-backed crytos.  I know their views can be controversial; however, individuals like Peter Schiff (and to a lesser extent Reggie Middleton) have a large media reach and could probably simplify and explain Bitshares in a way that others can easily understand.  Schiff has been negative and ignorant on Bitcoin but I honestly think he'd be fascinated and supportive of a BitGold and BitUSD DAC.
Bytemaster, after seeing your recent debate I think you'd do well explaining Bitshares to someone (like Schiff) that's actually knowledgeable in business, finance, and economics.  I think the problem lies in that the majority of people don't understand these concepts at a fundamental level.

[jae208]

For some reason I see a ton of stuff about Ethereum wherever I go, but I don't see much about BTS, PTS, or AGS. This is a complete injustice to the work being done by Invictus and this community at large.

What if we established a Marketing Bounty program to help drive marketing, awareness, and adoption? If we can reward bounties to people for writing blogs, podcasts, Facebook pages, or articles, then include small bounties for people to share or post to major social media platforms, we can spread the message far and wide. We will have to reach a consensus in the community of message that we want to put forth, that way we can have some sort of impact on the narrative.

This community has some brilliant concepts with extremely talented devs, but we haven't even scratched the surface of what is capable. People need to know that this community exists, and if we don't market the concepts we could all potentially lose out in the end.

Marketing an idea is more important than the idea itself in many ways. Everyone should know what you guys are doing here.

The problem we face is that almost no one understands what we are doing here.   Few really understand Ethereum either, but that is beside the point.    The feedback I am given is that despite my interviews, long conversations, etc no one seems to really understand it at a level that they can explain to others.

On this forum I would assume that 90% like what we are doing without even understanding it all in detail.  These are people with good intuition, but intuition is sometimes hard to explain.  There are perhaps 10% that can start to explain how and why it works.   

This is what Brian Page is working night and day to solve.

I would also submit that we already have more than enough publicity at this stage in development.  Now a month after we have BitShares XT launched successfully then will be the time to really pile on the marketing.

I think the reason most people don't fundamentally understand what Invictus and Ethereum are striving towards is because people don't have the foundational knowledge necessary to even begin understanding.

For instance, people don't grasp/understand or want to accept the the world of money is like a religion and as long as people have 'faith' in something it is accepted as true. Regardless of whether it is rational or not.

If there is a lack of understanding of how traditional banking and monetary institutions work than it makes understanding the significance of your work a little harder to understand. However, people do have a gut feeling that the system is inefficient and that your work holds great promise.

[CLains]

It's really a balancing act right now. It is certainly scary that Invictus is holding off a marketing push, especially in the funding stage. But it can certainly be a mistake if they push before they are ready. Either way the air is filled with angst. But that's part of the fun too!

We all trust in Brian Page at this point. I hope that video arrives soon! It can be a good thing if more people invest after BTC has gone down as well (: .. So many considerations t_t

I'd love to have a more open discussion about how to spend funds, and tried to propose a "suggest bounty" thread, but I guess for some reason this idea is not good?

[Markus]

The problem now is that you have to spend a month to figure out how it is meant to work (I mostly mean Bitshares X with this) and then still trust your guts that it will. Because there is no proof of principle yet that it will work you can't just believe in it.

As Dan said, after BTSX will have been out for a while and it really does track, then it'll be time for big marketing. Then people won't have to understand why it works, only that it does.

Anyway, most here won't mind having a few more weeks to pick up PTS or AGS cheaply. The beginning of an uptrend in both is already there.

[thazel72]

Great recommendation for a bounty back in the day!! That's the go to video when explaining what BTC is. I believe in what Invictus is doing, and look forward the seeing your many achievements get notoriety. Thanks for doing what you do!!

[bytemaster]

You will be happy to know that the We Use Coins video was inspired by a Bounty I started back in the day.  A video for BitShares is in the works and will come out soon.   It is this video that we are waiting for before really pushing things out there... don't worry about marketing, Brian Page is systematic, organized, and has a team of people working for him behind the scenes.   

[thazel72]

Understanding the concept is definitely a difficult task, but I would argue that the average user doesn't need to fully understand every detail of it. Most people don't understand how the dollar works either, but they at least understand enough to use it. The average user of any products or services cannot explain how it works, but they have been sold on the idea at some point. You guys are doing some amazing stuff, and what you are doing has a huge potential to impact the world, but all of the material that has come out is so far over peoples heads that they are intimidated by it. Users do not need to know all of the details, they just need the bullet points, and a reason to join the party. What are the benefits of BTS and why is it important? How and why are DACs different, and what are the pros and cons? These are big questions.

I remember the first time I saw this video, an now it has over 5.1 million views. This video beautifully illustrates what BTC is, by breaking it down so a layman could understand it.

https://www.youtube.com/watch?v=Um63OQz3bjo

I cannot wait for the day that Bitshares has videos like these.

https://www.youtube.com/watch?v=Y-w7SnQWwVA&list=PL73q2zDIiGK_O5OYdK5vxcezzC0zu_3OS

These items have done a lot to explain to the average layman how BTC works. I am sure that these will be created overtime, and I know that you guys are ridiculously busy working to develop , but maybe offering bounties for these types of projects could help grease the wheels, and speed up development of the layman educational material.

Disclaimer: I cannot say that I fully understand what you are doing from a technical point of view, but I do understand enough about the potential social, economical, and financial impact of DACs to say that what you are doing is brilliant in so many ways. Keep up the good work and Godspeed!!

[bytemaster]

For some reason I see a ton of stuff about Ethereum wherever I go, but I don't see much about BTS, PTS, or AGS. This is a complete injustice to the work being done by Invictus and this community at large.

What if we established a Marketing Bounty program to help drive marketing, awareness, and adoption? If we can reward bounties to people for writing blogs, podcasts, Facebook pages, or articles, then include small bounties for people to share or post to major social media platforms, we can spread the message far and wide. We will have to reach a consensus in the community of message that we want to put forth, that way we can have some sort of impact on the narrative.

This community has some brilliant concepts with extremely talented devs, but we haven't even scratched the surface of what is capable. People need to know that this community exists, and if we don't market the concepts we could all potentially lose out in the end.

Marketing an idea is more important than the idea itself in many ways. Everyone should know what you guys are doing here.

The problem we face is that almost no one understands what we are doing here.   Few really understand Ethereum either, but that is beside the point.    The feedback I am given is that despite my interviews, long conversations, etc no one seems to really understand it at a level that they can explain to others.

On this forum I would assume that 90% like what we are doing without even understanding it all in detail.  These are people with good intuition, but intuition is sometimes hard to explain.  There are perhaps 10% that can start to explain how and why it works.   

This is what Brian Page is working night and day to solve.

I would also submit that we already have more than enough publicity at this stage in development.  Now a month after we have BitShares XT launched successfully then will be the time to really pile on the marketing. 

[thazel72]

For some reason I see a ton of stuff about Ethereum wherever I go, but I don't see much about BTS, PTS, or AGS. This is a complete injustice to the work being done by Invictus and this community at large.

What if we established a Marketing Bounty program to help drive marketing, awareness, and adoption? If we can reward bounties to people for writing blogs, podcasts, Facebook pages, or articles, then include small bounties for people to share or post to major social media platforms, we can spread the message far and wide. We will have to reach a consensus in the community of message that we want to put forth, that way we can have some sort of impact on the narrative.

This community has some brilliant concepts with extremely talented devs, but we haven't even scratched the surface of what is capable. People need to know that this community exists, and if we don't market the concepts we could all potentially lose out in the end.

Marketing an idea is more important than the idea itself in many ways. Everyone should know what you guys are doing here.