Huge Television Ad for Bitcoin on All the Major Networks

[LightRider]

Looking forward to seeing a well done ad show up on the tv machine. I agree that bitcoin isn't ready for prime time yet, but these commercials won't be playing in prime time. So it all works out.

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[sergio]

Bruce, that might be a good idea.
But check if the timing is right, for the last 2 months the bitcoin has been under heavy attack by the bad press, press that lies and does not say the truth.
But a TV add  maybe very costly, I have no idea how much a tv commercial could cost, but if it raises money that money could be spent on open source projects for the bitcoin that could be great.
Something that is important at present is securing the wallet using encryption since the average user uses windows and it is not technical.
I think before making massive publicity we should make the bitcoit idiot proof, something that would be needed is to secure the wallet somehow.
The technical person already uses bitcoin or will very soon, it is the non tech person where the tv add will be great, but for the non tech person bitcoin has to be extremely easy to use and secure by default, the average person has a pc full of viruses and under that environment the wallet has to be secure not an easy task. The tech person is safe he/she runs linux and probably already using bitcoin.

So I think a TV commercial would be great for the bitcoin, but the proper timing for it has to be studied with great detail, I think it might be a little too early now,  if it is too early it could cause the bitcoin to skyrocket again to later come down in price, if the timing is done right once a significant portion of the population knows about bitcoin, it will cause the price to skyrocket but stay up, which is better.

Something good about the TV add if it gets a lot of people to use bitcoin, it will be harder for legislators in USA and other countries to pass laws against bitcoins, and if bitcoins get very popular maybe we could have laws protecting the bitcoin.

Bruce you are doing a great job on the bitcoinshow, congratulations.

[BitcoinBabe]

Those saying that non-tech folk might not be ready for btc just yet may have a point. You might want to consider teaming up with the guys doing the bitcard and release something in tandem with them, as that would at least make btc seem that bit more tangible to the masses, and more akin to the plastic that they're already used to.

http://forum.bitcoin.org/index.php?topic=25258.msg314300#msg314300

[MeSarah]

Question..

• How much will this nation wide advertising campaign cost?
• How long will it take you to convert the donated btc into usd?
• Have you even spoken with network advertising departments?
• With networks rejecting many religious and political commercials, do you have a writen guarantee that you can provide donors that your commercial will not be rejected?
• How much of the donated btc will you be putting into your pocket?
• • Are you willing to provide all documents to verify the accounting process?
  
  

[ribuck]

interesting.. wouldn't have thought I'd see a ham radio operator in the bitcoin world

I let my VK2 ham ticket lapse many years ago, but I would be interested to see someone connecting a bitcoin client via EME ("moonbounce").

Just because they can.

[Bitman_Begins]

Try not to make it look like some wacko fear mongering/anti government....

Hahaha. Well, that one is already funded and is being created as we speak.

Max Keiser on Russia Today.

[Rob Lister]

No no... It's not a show...  No screenplay.

Just a little TV commercial.   I expect it to be the normal 30 to 60 second commercial.

Because it will be very brief, it will only cover the most basic concepts --- the most important features and benefits.

In order to get placement on ALL of the networks.....  at off hours....  ( unsold inventory slots )....  at super-discounted rates.... It will need to actually sell a product.

Most likely that product will be an ebook about Bitcoin...  sold and shipped on a CD-ROM...   essentially sold at a price that only covers the cost of duplication and shipping.

( Selling a product is the only way to get such super discounted rates. )

We're working with real professionals in mainstream television commercial production....  In fact, this whole idea was theirs.

I think that it could be a great opportunity to get the word out to the masses...

I'll keep you informed of how if goes.

Good luck with that.  I think you're marketing to the wrong audience.  You're throwing your advertising dollars away.  I know you say you're not doing it for a profit but I almost wish you were, because that way somebody gets something out of this.

Your first tier marketing should target web merchants: Getting merchants to put the BTC logo on their payment option list.  That's face to face, hit the pavement, cold calls, basic high-end sales work.  Take the money you would have spent on cheesy late-nite ads and spend it instead on taking successful and rising web merchants out to expensive lunches with lots of booze.  Succeed in that and the rest will take care of itself.  

[JoelKatz]

First, what Bitcoin really needs is more merchants that accept it, not more people who can't do much with it.

Second, if you're going to promote Bitcoin to the masses, you need to come up with something they can use it for and some way they can use it. This means you should *not* be promoting mining, investing, or running the client. You could promote use of Bitcoins through a web site that is easy enough for ordinary people to use.

That said, I think it's a great idea if you can do it well, and even if you do it badly, I think it will help at least a little.

[d3wo]

I think that without a serious improvement to the client and usability, attracting "normals" to Bitcoin in droves is a recipe for a flop.

This.  Not only do I think it's too early for this kind of promotion, honestly, it makes bitcoin look like a scam.  I don't see why we need to be in such a hurry.  A few months, even years, for infrastructure build-up would go a long way for the staying power of bitcoin.  This screams pump and dump.  Sorry, Bruce.

I'm sure you're still going to go for it anyway, so please, please make this look professional.  No promises of big returns.  No "you can be an early investor" stuff.  Advertise the fundamentals; the real lasting benefits of this sort of monetary system.  Please don't make this about quick, easy money (i.e. quick increases in purchasing power).  Ultimately, that's not what bitcoin is about.

Please focus on this stuff:

Distributed
No intermediary
International
Low Friction
...

this


*I live in the east
I can do with paypal like these :
(sell product online)(using paypal button) -> paypal -> local bank  (3 step)

But, I have todo more stepsss with btc :
(sell product online)
(you must install online btc wallet, enhancing your code, so you can know whos pay, who hasn't, etc2, kindda building your own paypal button)
 -> btc exchange -> liberty-reserve -> local exchange -> local bank (5 step + extra)
*So, actually using btc as a payment system in the east, I lost more money (unless we can make those, same 3 steps someday I believe  )

IMHO I think put video adv on sites will have more value.

[bcearl]

Cool

Remember this: http://www.ted.com/talks/lang/eng/simon_sinek_how_great_leaders_inspire_action.html

I am wondering how that is anything other but the most obvious thing I've ever seen.

[d3wo]

Cool

Remember this: http://www.ted.com/talks/lang/eng/simon_sinek_how_great_leaders_inspire_action.html

I am wondering how that is anything other but the most obvious thing I've ever seen.

That is fundamentally good for bitcoins adv 

http://video.ted.com/talks/dynamic/SimonSinek_2009X-medium.flv

download links

[bcearl]

Cool

Remember this: http://www.ted.com/talks/lang/eng/simon_sinek_how_great_leaders_inspire_action.html

I am wondering how that is anything other but the most obvious thing I've ever seen.

That is fundamentally good for bitcoins adv 

http://video.ted.com/talks/dynamic/SimonSinek_2009X-medium.flv

download links

You don't understand me. The speaker just says the obvious. I don't see any news in that talk.

[w1R903]

Bruce, I appreciate your enthusiasm.  And I agree that we need to put more effort into marketing Bitcoin.  But before you spend a lot of money on TV, please take a look at this wikipedia page on Crossing the Chasm by Geoffrey Moore and think about where Bitcoin lies on his adoption curve: http://en.wikipedia.org/wiki/Crossing_the_Chasm

To me, it's clear that Bitcoin is still at the level of adoption somewhere between innovators and early adopters.  If that's true, we need to still be targeting the rest of the early adopters before we even think about targeting the mainstream.  So I think your idea of using Facebook to market Bitcoin is a great idea.  A good many early adopters still use Facebook.  Why not put all the resources you're devoting to Bitcoin to Facebook.  If you're wanting to make a little money off of an e-book while you promote Bitcoin, then I think you'd have a much greater chance of selling it on Facebook where users can easily click on your e-book landing page.

Just something to think about.  I'd probably throw in a few Bitcoins to efforts to promote Bitcoin on the Web.  It's still way too early to move to TV, in my opinion.  Once Bitcoin is being used by 15-20% of the population, then I think it'd be smart to move to TV.

Also, marketing Bitcoin as an e-book on late night TV will place it in some very unsavory company.  Is that who we want to be associated with?

But again I appreciate your promotion of Bitcoin and wish you well in all your future endeavors.

[dinzy]

It's certainly better than nothing. Why not $5 in BTC on a USB wallet and a free book?

We'd rather it did not actually SELL bitcoin directly.

This wouldn't have anything to do with the exchange rate would it? Or is it just a strategic preference?

[SeriousWorm]

Sent a small donation.

[dennis_sweden]

This is somwhat of the chicken and the egg problem - do people have a desire for a Bitcoin market, or does a Bitcoin market exist before people aquire a desire to use that market? However, I agree with the many posters who think that it is too early to market Bitcoin to a wider audience. Presumably a number of people who see the ad will view the webpage, but if that webpage cannot display the usability of Bitcoins, not many will take any further steps. To target "the masses" a marketplace must be in place. In my humble opinion, it is better at this stage to target early adopters of users and merchants, which of course the upcoming FB campaign does. Since word-to-mouth is the best form of marketing, people's positive experience from using Bitcoin would have a far greater impact, which would promote Bitcoins further.

As to the forum of the ad; call me stereotypical, but most people that buy products from infomercials are not consumers of the type that search for information about products, instead they prefer to sit in their couch and digest whatever the merchandise presenter says, why the impact of this ad is likely to be rather small. Has paypal ever had tv commercials? I have not seen any, although I do not watch that much TV. TV is probably not a good marketing forum at any stage of Bitcoin, in a cost/benefit sense. Of course, "the only bad exposure is no exposure" or something like that, so I do not see that the ad will have a negative impact; almost all viewers who may think that Bitcoin is a scam are very likely to forget about Bitcoin in a very short time span.

[chuckypalumbo]

Will there be a section in the e-book written by Carlton Sheets explaining how to make millions in real estate with no money down?

A late-night TV ad that sells an e-book might spread the word, but what word will it spread?  Bitcoin will be forever associated with the Ronco smokeless ashtray or pocket fisherman.

The "What is Bitcoin" video is superb.  No, it's brilliant.  Use that.  Pay more for airtime, play it less, and don't sell it like a salad shooter.

This, if you want bitcoin to look like a late night infomercial scam then doing this to bitcoin is a great idea! This has the potential to crush bitcoin before it ever gets started. How did facebook become popular? Through word of mouth, not through late night infomercials that cheapen the product. This will relegate bitcoin to cheap scam status.

[N12]

I think that without a serious improvement to the client and usability, attracting "normals" to Bitcoin in droves is a recipe for a flop.

I couldn’t agree more. We don’t even have encrypted wallets yet, nor do we have mature exchanges. Really, the entire ecosystem needs work. Even the bitcoin.org website doesn’t look professional at all. I don’t want to see more bubbles and pump and dump, thank you.

Let’s consolidate and make Bitcoin ready for the next wave BEFORE it hits.

[chuckypalumbo]

I think that without a serious improvement to the client and usability, attracting "normals" to Bitcoin in droves is a recipe for a flop.

I couldn’t agree more. We don’t even have encrypted wallets yet, nor do we have mature exchanges. Really, the entire ecosystem needs work. Even the bitcoin.org website doesn’t look professional at all. I don’t want to see more bubbles and pump and dump, thank you.

Let’s consolidate and make Bitcoin ready for the next wave BEFORE it hits.

Agreed 100%

[N12]

Wow.    You new people in the forum have become such cynics....    That's sad.

Anyway...


My vision of what the commercial would NOT be about:

• bitcoin as an investment / it would not mention that at all / not at all
• political or philosophical benefits of bitcoin / again, no mention at all

My vision of what the commercial WOULD be about:

• easy to use

Untrue at this point. The client is very user-unfriendly (downloading blocks, no explanation for confirmations, fees, wallet.dat). You could use an ewallet, but that makes you lose several advantages of Bitcoin.

• no transaction fees

Not 100% true, and in the future there probably won’t be free transactions.

• transactions that can't bounce or incur chargebacks

True, but most consumers will want chargebacks. Our only real escrow, ClearCoin, will be shut down by Gavin in the future.

• no need for bank approval
• you can start using bitcoin within seconds with no technical skills necessary

Now that’s completely wrong, unless you want to sacrifice Bitcoin’s properties by using an ewallet.

• the world's first decentralized currency

Not so decentralized at the moment though, as one can see by the examples of MtGox and Deepbit.

• the world's first currency with a limited supply, yet extremely divisible

On the topic of Facebook, I am working on a simple, yet brilliant    project there too....   I'll post about that soon.

We need to face the truth: The Bitcoin client is difficult to use at the moment and for average folks it’s even dangerous to use the standard client if they have a non-negligible sum of Bitcoins. Our infrastructure (exchanges etc.) is getting better, but overall still sucks.