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Question: Is now the time to be investing money into advertising Bitcoin?
Yes
No
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Author Topic: [POLL] Is now the time to be investing money into advertising Bitcoin?  (Read 1171 times)
mouse
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July 03, 2011, 06:52:45 AM
 #1

There’s been a few posts on whether now is the right time to be investing into advertising for Bitcoin, and whether this will help or hinder the project long term.

I’ve posted this poll so that we can get a feel for the consensus of the forum.

Personally, I think money invested in advertising right now will actually hurt the Bitcoin project long term, but I would never tell someone what to do with their own money.  Instead I think we need to focus on infrastructure.

Any intelligent fool can make things bigger, more complex and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction.
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wumpus
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July 03, 2011, 07:13:40 AM
 #2

No.

There is no use in advertising bitcoin itself right now.

If you have a useful service and accept bitcoins, by all means, advertise.

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
Jaime Frontero
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July 03, 2011, 07:27:32 AM
 #3

i think advertising to people/sites/businesses that might accept Bitcoin is good.

exchanges, swipe mechanics, and integrating the two are key.  we need a way to auto-load plastic from exchanges with one click.

advertising to aunt tillie out there in the heartland - not so good.  a waste of money.  we agree that the usability infrastructure (* cough * UI client * cough *) needs quite a bit of work.  and the security infrastructure needs to be as transparent as internet banking.
Babylon
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July 03, 2011, 07:31:36 AM
 #4

Advertising bitcoin seems a bit silly to me.  People don't advertise gold.  Or dollars for that matter.

People advertise certain sellers of gold, or services for handling dollars.

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July 03, 2011, 08:02:05 AM
 #5

There should be a single product or service, that depends on BTC to function.

Make a commercial about that service, don't even mention Bitcoin.

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July 03, 2011, 05:00:12 PM
 #6

No.

Now is the time to invest in making it easy for merchants to accept Bitcoin and for customers to spend Bitcoin.

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TraderTimm
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July 03, 2011, 07:01:18 PM
 #7

The reason I put out my 30-second spots on YouTube was to have something that isn't a long technical presentation, just enough to grab someone's imagination. It doesn't promise riches, success in trading or lots of babes relaxing on a pristine yacht. I think that is the tack to take - don't push the speculative nature, just the core principles:

Decentralization

Low fees (if any)

Robust Security (blockchain, with client additions to be added.)

If we can keep hitting on these three points, I think it will win over people who don't understand the true nature of what bitcoin is.

fortitudinem multis - catenum regit omnia
edd
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July 03, 2011, 07:06:26 PM
 #8

Any advertising for bitcoin will basically be a public service announcement, informing anyone who might not know much or might be under the wrong impression concerning its fundamental workings. I don't see how educating anyone can be wrong at any time.

Still around.
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July 03, 2011, 07:07:34 PM
 #9

Personally I'd love to see a shortened & edited version of this go on the air as soon as possible:

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

DO IT
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adamstgBit
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July 03, 2011, 09:39:40 PM
 #10

I think if a bitcoin commercial were to come out now now.

the price of bitcoin would rise a few dollars due to more demand.

but we all know we only get one change to make a first impression, if we get a few thousand poeple all excited about bitcoin, and then disappoint them that would hurt bitcoin.

maybe the idea for marketing right now, should be getting major retailers on board.

retailers who accept VISA have to pay 1% fee or maybe more idk.

with bitcoin their is no fee, (well wait a minute all every exchange has a 1% fee on withdraw)

maybe they should offer a better deal for retailers?

we should make it so retailers CAN'T say no



BitQuestr (BitCoinWorldMarket)
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July 03, 2011, 09:51:57 PM
 #11

I'm with Gavin feeling the need for Bitcoin infrastructure needs to advance.. We need reputable secure online wallets, escrow services, ways to buy bitcoin faster, and of course more merchants selling products and services for bitcoin.

Start advertising bitcoin and at this point a flood of people will come in without secure wallets, getting ripped off trying to buy and use bitcoin, and more speculative investors driving market price up beyond where economic exchange can sustain it.

BitCoin itself will survive any of this, but widespread adoption and trust in bitcoin may not survive if we grow too big too fast. You just can't advertise the benefits of a race car when the only place to drive it is a gravel road.

I have absolute faith that all of the infrastructure we need is being developed or is in the brainstorming stages currently.  The next six months to a year will have amazing expansion in the Bitcoin infrastructure. Then it will be time to try out the full horsepower of the bitcoin economy.

To everyone out there working on a bitcoin business model, good luck and may all of your passion and inspiration propel Bitcoin further than we ever thought possible!

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July 04, 2011, 01:38:52 AM
 #12

It doesn't matter because bitcoin was to be a means to an end serving as a currency. There is never a right or wrong time.

mouse
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July 04, 2011, 02:16:41 AM
 #13

Looks like computer says no

Any intelligent fool can make things bigger, more complex and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction.
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