The One Satoshi Project

[cbeast]

I propose we spread the word about Bitcoin by giving away physical key pairs of the smallest denomination we can. Tell folks that someday it may be worth a lot, perhaps enough to retire on. We can include the Bitcoin.org website, but explain that the amount given is potential worth only and not worth anything at the moment. It's like a lottery ticket that has a high probability of winning someday.

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[Phinnaeus Gage]

Let's see if I can take your idea to the nth degree.

Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.

Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.

[cbeast]

Let's see if I can take your idea to the nth degree.

Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.

Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.

That's a good idea. Kinda like the bitcoin faucet, only with offline notes.

[Phinnaeus Gage]

Let's see if I can take your idea to the nth degree.

Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.

Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.

That's a good idea. Kinda like the bitcoin faucet, only with offline notes.

Did you figure out how to monetized it, possibly for a 6-7 figure yearly income? Here's the beauty of my idea. I can share the idea, for free, with the hope of somebody else doing it, and I, as well as everybody else who holds Bitcoin, profit. There's no way to lose, with the exception of not doing the idea.

Interested?

[cbeast]

Let's see if I can take your idea to the nth degree.

Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.

Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.

That's a good idea. Kinda like the bitcoin faucet, only with offline notes.

Did you figure out how to monetized it, possibly for a 6-7 figure yearly income? Here's the beauty of my idea. I can share the idea, for free, with the hope of somebody else doing it, and I, as well as everybody else who holds Bitcoin, profit. There's no way to lose, with the exception of not doing the idea.

Interested?

I already have a business plan with Bitcoin, but any pm is in strictest confidence. I am more interested in awareness now because I can do this cheap. If you have a MLM plan, I'm sure a lot of people would be interested. Is it perhaps something that can be done as an open source project and developed further?

[Phinnaeus Gage]

Let's see if I can take your idea to the nth degree.

Person 1 is given a free lottery ticket. But he would like a second one, too. Solution: Bring me 2 people who want a free lottery ticket and I will give you a second one free. And if those 2 new people get at least 2 more new people, then you get a 3rd ticket. No max on the downline.

Yes, it structured like your typical MLM, but no purchase(s) required. Here's the secret: This system can easily be monetized for anybody wanting to do this.

That's a good idea. Kinda like the bitcoin faucet, only with offline notes.

Did you figure out how to monetized it, possibly for a 6-7 figure yearly income? Here's the beauty of my idea. I can share the idea, for free, with the hope of somebody else doing it, and I, as well as everybody else who holds Bitcoin, profit. There's no way to lose, with the exception of not doing the idea.

Interested?

I already have a business plan with Bitcoin, but any pm is in strictest confidence. I am more interested in awareness now because I can do this cheap. If you have a MLM plan, I'm sure a lot of people would be interested. Is it perhaps something that can be done as an open source project and developed further?

It's not an MLM, in the strict sense of the word. Just structured like one, and perfectly legal. There's no product or service to sell or buy, and no membership fees.

[deepceleron]

One base unit is a very small amount.

Here's what about half of 75,000 people look like:



Now multiply that by 10, then multiply that by 10.

If every person alive in New York City (8 million) gave you one, and the value of Bitcoin returned to it's record high, you still wouldn't have enough to buy a tall latte.

[cbeast]

If every person alive in New York City (8 million) gave you one, and the value of Bitcoin returned to it's record high, you still wouldn't have enough to buy a tall latte.

Innumeracy isn't the issue. It's the public's ignorance of Bitcoin itself.

[Phinnaeus Gage]

One base unit is a very small amount.

Here's what about half of 75,000 people look like:



Now multiply that by 10, then multiply that by 10.

If every person alive in New York City (8 million) gave you one, and the value of Bitcoin returned to it's record high, you still wouldn't have enough to buy a tall latte.

True, at the lowest base unit. But what if we move it up a few notches? Granted, at today's exchange rate, it'll still not be worth much even at Bitcoin's historical high. But the idea presented in the OP is to get more people involved with Bitcoin. A vested interest, if you will. Still a chicken and egg dilemma, but I guess we need to start somewhere. Increase the customer base, and businesses may be more prone to get on board, thus bringing in more users. Rinse, then repeat.

[cbeast]

Update: I printed a couple dozen 100K Satoshi notes. They are simply bitaddress.org printouts as small strips of paper. I added 0.01 BTC value to each and folded them in half with a staple. On the other side it says the value 100K Satoshis and the www.bitcoin.org website on the reverse. I am just handing them out to people I know and anyone that seems interested. Hopefully this "physical bitcoin faucet" idea will garner interest. It takes a little time to make them by hand, but doesn't cost hardly anything. I tell them to hold onto them someplace safe and "someday when [they] know what they are they may be valuable." It's a good conversation starter.

[cbeast]

Here's a pic. It's very basic. It would be nice if someone could design something as simple as this as a give away that looks a little better.

[HostFat]

Good and simple, I like it

[BurtW]

What I really like about this idea is that ANYONE with access to a few BTC, the internet (to get to https://www.bitaddress.org) and a printer can do this.  Very low tech and low cost.  I have been giving away 1 BTC physical coins to friends and family and they cost almost 2 BTC each.  For the cost of one coin I can give away 200 of these to total strangers (I am running out of friends and family that still want to hear about Bitcoins).

[pointbiz]

This is a great idea! I like how you labelled it as 100K Satoshis.

[pointbiz]

I think there are some synergies between this thread and another one I started:
https://bitcointalk.org/index.php?topic=51978.0

The Pocket Paper Wallet (PPW) could be printed with a really nice design, with or without denomination. The PPW could be used as a gift card, that is essentially what your One Satoshi Project boils down to...  home made gift cards. The PPW could display the bitcoin.org URL and inside there could be instructions on how to redeem at MtGox.

Thoughts?

[BurtW]

The easiest way to redeem one of these accounts into an electronic wallet or online account is not Mt Gox (who requires all sorts of ID etc. to set up an account) just open a https://www.strongcoin.com account and then import the private key.  Done.

[HostFat]

just open a https://www.strongcoin.com account and then import the private key.  Done.

Just remember that there is a 1% fee

[BTCurious]

I will probably make something like this, but then in one of the "Strip of paper" formats:



And then put them all over my university campus.

[pointbiz]

The easiest way to redeem one of these accounts into an electronic wallet or online account is not Mt Gox (who requires all sorts of ID etc. to set up an account) just open a https://www.strongcoin.com account and then import the private key.  Done.

There could be two sets of instructions (with radio button choices) to pick strongcoin or mtgox.
Does mtgox require ID? I don't remember them requiring that before, is that new? Assuming mtgox is still easy to sign up with then nothing brings value to the bitcoin like being on mtgox and seeing it's value first hand.

[BurtW]

They were fine with me sending them deposits of dollars or BTC.  I could sell BTC and buy BTC.  But then they made me send them color photocopies of my driver's license and/or passport before I could remove any money or BTC from the account.

Maybe they were just picking on me and they do not do this to others?  Anyone else?