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Author Topic: Multi-level Bitcoin marketing?  (Read 2973 times)
Elwar
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September 07, 2011, 08:54:31 PM
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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.

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repentance
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September 07, 2011, 09:28:23 PM
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In my jurisdiction it's a pyramid scheme if you only earn money for bringing others into the programme, so what you've described would probably be deemed a pyramid scheme and therefore illegal.

There's also the question of whether you'd want Bitcoin tainted by the whole MLM negative image anyway.  While there's no central authority to stop any individual setting up a programme like you describe, going down that road risks Bitcoin being branded as "another Amway" at a time when it needs more credibility, not less.  You'd need to fully research how becoming a Bitcoin "distributor" would impact on people legally (would they need a financial services licence of some kind) and taxation wise.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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September 07, 2011, 09:36:20 PM
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In my jurisdiction it's a pyramid scheme if you only earn money for bringing others into the programme, so what you've described would probably be deemed a pyramid scheme and therefore illegal.

There's also the question of whether you'd want Bitcoin tainted by the whole MLM negative image anyway.  While there's no central authority to stop any individual setting up a programme like you describe, going down that road risks Bitcoin being branded as "another Amway" at a time when it needs more credibility, not less.  You'd need to fully research how becoming a Bitcoin "distributor" would impact on people legally (would they need a financial services licence of some kind) and taxation wise.

It's not a pyramid scheme if you only accept bitcoin.

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Stalin-chan
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September 07, 2011, 09:55:39 PM
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This sounds like a great idea, it's not really like a pyramid scheme it's more like a fan-club with member dues.
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September 07, 2011, 10:48:29 PM
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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...

...

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.

MLM is one of the best and most effective ways to market something!   Most, if not all, of us buy from MLM on a daily basis.  I looked at the site in your signature - are you the only salesperson for that clothing line?  If not, you are running a MLM business as well.  I think the general distaste of MLM is because people confuse it with a pyramid scheme.

To address the second part of your comment, MLM is going to make it easier for people to get started with BTC.  Back to the clothing line in your signature - would you be selling that clothing if you weren't getting a commission on the sales?  Probably not.  GuildMiners is rewarding users for getting their friends into BTC - isn't that the most positive aspect of MLM?


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ClownCoins
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September 07, 2011, 10:53:34 PM
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[...] They all suck and all of that but there is a reason they are around. [...]

And the reason is that gullibility and greed are never in short supply. Which end of the pyramid you find yourself on determines whether you're a sociopath or a fucking moron.

ClownCoins are just like Bitcoins except when they arrive they make a huge bang and then the wheels fall off. Oh, wait...
bosschair
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September 07, 2011, 11:40:51 PM
 #7

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.

(bolding mine)
Uh, what exactly makes someone want to do that bolded part?  I mean, if I sign a bunch of people up and tell them to go sign people up for $150 and give me a 33% cut, aren't they going to quickly realize that they have zero incentive to do that, and actually quite a bit of incentive (competition-wise) to sell the same "package" for $100 at no loss to themselves?  This might be the worst-thought-out scheme ever.
Synaptic
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September 07, 2011, 11:58:20 PM
 #8

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.

YES.

DO THIS.

lol...
repentance
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September 08, 2011, 12:10:53 AM
 #9

It's not a pyramid scheme if you only accept bitcoin.

If the OP intended to only accept Bitcoin, then "when the cheque clears" wouldn't be relevant.  As the OP has outlined his proposal, it involves the people to whom the starter package is being sold paying with conventional money.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Elwar
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September 08, 2011, 01:16:07 AM
 #10

It's not a pyramid scheme if you only accept bitcoin.

If the OP intended to only accept Bitcoin, then "when the cheque clears" wouldn't be relevant.  As the OP has outlined his proposal, it involves the people to whom the starter package is being sold paying with conventional money.

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.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
Ekaros
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September 08, 2011, 02:12:12 AM
 #11

I don't ever understand why anyone joins in pyramids, ofc you don't have to make spam yourself, but still much much better to start your own.

On other hand, where can the BTC be used in this case?

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Phinnaeus Gage
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September 08, 2011, 05:00:48 AM
 #12

Instead of an MLM, make it a direct marketing party with no fees. You'll earn income via affiliate links you have the party goers sign up for. TradeHill, for one, comes to mind. Image if you had 10 different affiliate links with 10 new members each every week. At the end of a year, you could have a revenue stream from 5,000 avenues.

http://today.msnbc.msn.com/id/26184891/vp/43711379#43711379
Elwar
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September 08, 2011, 04:08:04 PM
 #13

Instead of an MLM, make it a direct marketing party with no fees. You'll earn income via affiliate links you have the party goers sign up for. TradeHill, for one, comes to mind. Image if you had 10 different affiliate links with 10 new members each every week. At the end of a year, you could have a revenue stream from 5,000 avenues.

http://today.msnbc.msn.com/id/26184891/vp/43711379#43711379

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...

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
Phinnaeus Gage
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September 08, 2011, 04:24:40 PM
 #14

Instead of an MLM, make it a direct marketing party with no fees. You'll earn income via affiliate links you have the party goers sign up for. TradeHill, for one, comes to mind. Image if you had 10 different affiliate links with 10 new members each every week. At the end of a year, you could have a revenue stream from 5,000 avenues.

http://today.msnbc.msn.com/id/26184891/vp/43711379#43711379

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...

Quote
Giving BTC for birthdays, buying other products from them, going out to places that accept BTC together...

Great idea! A Bitcoin birthday card. With 1 BTC as a gift with a TradeHill affiliate code.

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