I agree that this idea is not very wise.

Here is another unwise idea that would be slightly better.

Just have a few big money players put in ask walls at just below where it is now and periodically drop out and drop back in with an exact figure to demonstrate to the others that they are still holding.

People will come to realize that the wall is not falling and will bid/ask above the wall.

Then, as things pick up they can move the wall up a half dollar at a time. When the wall is hit and someone sells a lot then they just wait a bit until the price goes up a bit and sell what they bought earlier. With the knowledge that it will not go below that wall.

Easy Point of Sale transaction.

Merchant types price into a smartphone, customer easily scans the price and clicks "pay".

With a confirmation sent to the merchant when it goes through.

That would make Bitcoin easier to use than a credit card. And all you need is your phone.

I sent it to you.

You are welcome.

The last time we had the weekend effect, the next weekend it went up.

After the 4th of July weekend when there was a 3 day weekend like labor day and the price went down, the next weekend went up.

I look forward to pulling out before the Thanksgiving weekend. That will be a good money maker. (unless someone creates an easier way to deposit $ to the exchange before then)

Bitcoin is about to become very easy to use as its intended purpose as a currency. I was in the same boat as others who see the amount of mining outpacing the amount of Bitcoin users but that will soon change.

We will never see $6.12 again.

The direct selling with the parties seems like a waste of having a bunch of people in your home only to sell them something and then they just go on to be users instead of advocates themselves.

Bitcoin is good for a MLM because once you get involved with it you want to spread the word and get other people involved. And if you get paid to do so, then it is even better.

With groups of friends or family, once you are all using BTC then you can start using it amongst yourselves. Giving BTC for birthdays, buying other products from them, going out to places that accept BTC together...

So...the price of Bitcoins is a valueable predictor of Google trends for bitcoins...

sweet!

LOOK AT ME! I AM ON TV!!!

I have noticed most around 2-3 PM EDT.

True. Bringing it to someone who has never heard of Bitcoin kinda implies that they do not have Bitcoins at that point. Thus the person whom sells the package would also be their Bitcoin exchanger.

As for it being a pyramid scheme, I have been involved in these twice. They get around the pyramid scheme laws by selling a product. The product could be anything, membership in some Bitcoin pay sites, discounts, a USB stick, a starter CD, whichever...

As for the "who would pay someone $50 when they could just turn around and do it themselves?". I agree, that would be why you would need to offer something of value. I can imagine that if you go to Bitcoin companies with a large amount of people who want to spend money on their product, then they would be willing to cut a deal to all of your members.

But definitely, everyone would be paid in Bitcoin within the membership and the only cash spent would be new users exchanging their money for Bitcoin. And if you are physically right there with the person you could take cash and give them BTC once you have showed them how to set up their wallet or if you are friends with them you could probably take a check and trust them enough to give them BTC.

Not too long ago I stumbled upon a new concept that caught my attention due to the nature of the idea and the sophistication of its structure. Although I really wasn’t able to grasp its definition, I was intrigued and eager to do some research about these “bitcoins” people were talking about. I discovered that Bitcoins are a new intangible electronic currency developed under a non-regulated money market structure and with limited supply that will give the term “economic freedom” a whole new meaning. All this sounded to me like something that could be either the beginning of an economic revolution or simply as an arbitrary currency scheme with the potential of creating another “bursting bubble” that could echo the dot.com era. The reality is that the bitcoin is much more complex than a simple currency; bitcoin is a whole new financial technology.

Continued...
http://www.strategicsourceror.com/2011/09/bitcoin-system-revolutionary-new.html

Ok, I hate those stupid multi-level marketing schemes. They all suck and all of that but there is a reason they are around. And yes, I know that Bitcoin is seen as a pyramid scheme so this is probably a bad idea since it reinforces that idea. But...

Bitcoin seems like it would be a natural thing to have a multi-level marketing setup for spreading the word.

You basicall sell starter packages and help a few people get started in Bitcoin, you get paid a bit for your efforts much in the same way that a multi-level marketing scheme works. Then they go on and help people get started and on and on...

I basically see this scenario. You gather 2-3 friends in your living room, you explain to them what Bitcoin is. You tell them that for just $150 they will have the same opportunity as you. You get $50, they get $50 worth of BTC and you pay $50 up your line. You show them how to set up their first wallet. You give them their first Bitcoins once the check clears and help them through the starting stage of getting and spending Bitcoins. Maybe have a business package that costs a bit more so that you can help them get started in collecting Bitcoins at their store.

I realize that the multi level part is cheesy, but this would encourage you to get people into Bitcoin and it would encourage those people to go forth and get more people. You are also providing them with a service and teaching them how to teach others. And in the meantime, the BTC price goes up as well and more people start to use it.

Either way, I think it needs to be easier for people to get started with BTC. It is like a gold coin dealer trying to explain currency to a farmer who has bartered their whole life.

Jimmy Carter also won the Nobel Peace prize...they are not all that selective.

Hmm, I could have sworn that it hit $12 during one of those quick run ups before the conference.

The Google trends chart does show some impact from the weekend of the conference (August 20,21). But ya, nothing materialized from it like everyone had anticipated (ie. CNN broadcast, etc.).

The notable thing going on a couple of weeks ago was the Bitcoin Conference which took the price up to $12.

MtGox still accepts Dwolla.

So now, there is a $1 billion Credit Union with easy access to transfer money to BTC.

Google trends shows bitcoins spiking up quite a bit.