[ANN] Introducing LoveBitcoins.org – Driving 1 MILLION Bitcoin Users in 2012

[BitPay Business Solutions]

My motto is simple. Go Big or Go Home.  With the talent we have in the bitcoin community we can build more innovative products than a mega corporation like google.  It doesn't take ten million dollars.  It just takes good ideas and solid execution.  The road is wide open right now while we have no competition.  Let's take it. 

[cunicula]

My motto is simple. Go Big or Go Home.  With the talent we have in the bitcoin community we can build more innovative products than a mega corporation like google.  It doesn't take ten million dollars.  It just takes good ideas and solid execution.  The road is wide open right now while we have no competition.  Let's take it.  

You have enthusiasm, slogans, and a motto. But what about a strategy? Is there a plausible scenario in which your plan leads to a successful outcome? Care to outline how a successful outcome might play out?

[fastandfurious]

I start by saying good work. I really like Max Keiser, so that is a big plus as well.

But the problem is this, if 1 million users show interest for Bitcoin, the high inflation environment will very quickly put them off. Why? Because the miners (and not the fiat buyers)  are in total control right now with the high inflation that Bitcoin have. Bitcoin will get big, but not right now, it is to early, when we hit the 25 BTC/day inflation (around 10 % annual inflation) the it will get much more interesting when the fiat buyers are pretty much in control. But that is in one year, you guys are in a hurry. If this get big 2012 it will end as it did last time and the questions is if Bitcoin will then get a third chance. As I see it, this should start earliest in the summer of 2012. This is my point of view.

Also, in five years time, then this will get a lot more interesting, with the very low inflation rates, then miners have very little power and the fiat buyers almost 100 % control. The upside at that time are very very big, but that is if everything plays out well until then.

[P4man]

May I suggest a specific target market: remittance (ie immigrant workers sending money home).
In Europe thats usually Polish, Turks, Moroccans,  and some other Northern Africans, and to a lesser degree, Nigerian, Thai, Filipinos. In the US I imagine its mostly Mexican.
This is a huge market. Over $400 billion according to wikipedia:
According to World Bank estimates, remittances totaled US$414 billion in 2009, of which US$316 billion went to developing countries that involved 192 million migrant workers.[2] For some individual recipient countries, remittances can be as high as a third of their GDP.

http://en.wikipedia.org/wiki/Remittance

Many of bitcoins feature are a perfect match for it.

Although in some of the recipient countries it might be hard to convert bitcoins in to cash. I think this is actually an opportunity for business to help facilitate this in specific countries (say for instance Turkey or Mexico) and offer a "bitcoin based wire transfer service" that gets cash to even unconnected and PC illiterate locals in those developing countries.

edit: just stumbled upon this:
http://technology.cgap.org/2011/02/18/how-do-migrant-workers-move-money-in-india/

Gives you an idea how much those people pay in costs and what services they currently use.

[BitPay Business Solutions]

May I suggest a specific target market: remittance (ie immigrant workers sending money home).
In Europe thats usually Polish, Turks, Moroccans,  and some other Northern Africans, and to a lesser degree, Nigerian, Thai, Filipinos. In the US I imagine its mostly Mexican.
This is a huge market. Over $400 billion according to wikipedia:
According to World Bank estimates, remittances totaled US$414 billion in 2009, of which US$316 billion went to developing countries that involved 192 million migrant workers.[2] For some individual recipient countries, remittances can be as high as a third of their GDP.

http://en.wikipedia.org/wiki/Remittance

Many of bitcoins feature are a perfect match for it.

Although in some of the recipient countries it might be hard to convert bitcoins in to cash. I think this is actually an opportunity for business to help facilitate this in specific countries (say for instance Turkey or Mexico) and offer a "bitcoin based wire transfer service" that gets cash to even unconnected and PC illiterate locals in those developing countries.

edit: just stumbled upon this:
http://technology.cgap.org/2011/02/18/how-do-migrant-workers-move-money-in-india/

Gives you an idea how much those people pay in costs and what services they currently use.

Exactly.  Remittance is prominently mentioned on the site and in the updated presentation.  The video will be remade when we get time and money.  Bitcoin needs local bitcoin-to-cash dealers in Mexico, India, and the other places you mentioned.  Its a perfect business for a local merchant of any kind.  Get em started!

[Phinnaeus Gage]

My motto is simple. Go Big or Go Home.  With the talent we have in the bitcoin community we can build more innovative products than a mega corporation like google.  It doesn't take ten million dollars.  It just takes good ideas and solid execution.  The road is wide open right now while we have no competition.  Let's take it. 

+1

Behind on keeping up on this thread, but I love this post.

[gnar1ta$]

the flaw in your logic is that you are already here.
sell to potential customers, not to yourself.

That is what I do.  It's not flawed logic, it's targeted marketing.  When the 60 yr old women in front of me at the grocery store pulls out her checkbook, my first thought isn't discussing Bitcoin with her.  However, when the the guy in front of me at Starbucks pulls out his phone to be scanned by the cashier for payment, that's exactly what I think of.  It's an easier close because its a smaller learning curve.  When google wallet, Dwolla, or Paypal mobile come up in conversations I introduce bitcoins.  I don't go into politics, speculation, or investing just the competitive  advantages bitcoins can offer over the current system - to people who already know and use mobile payment systems it's an easy sell.  And I would be wiling to bet I can drive more people to Bitcoin by targeting these users than any other demographic.  And that is the goal for me, Bitcoin users, not speculators or investors, because that is what I am and that is what I know.

[fornit]

My motto is simple. Go Big or Go Home.  With the talent we have in the bitcoin community we can build more innovative products than a mega corporation like google.  It doesn't take ten million dollars.  It just takes good ideas and solid execution.  The road is wide open right now while we have no competition.  Let's take it. 

Exactly.  Remittance is prominently mentioned on the site and in the updated presentation.  The video will be remade when we get time and money.  Bitcoin needs local bitcoin-to-cash dealers in Mexico, India, and the other places you mentioned.  Its a perfect business for a local merchant of any kind.  Get em started!

i didnt say go small. i consider finding a niche only a first step and expect exponential growth from there.
remmitance for example might turn out to be a profitable business, but i think wont ignite exponential growth for bitcoin as a whole. it totally doesnt fit your go big philosophy.
my approach would be to find ways to distribute bitcoins within an online community and offer services specific to that target group.

that way, you have people who are inclined to spend or keep their bitcoins, not directly trade it back to another currency. you can then expand on both sides, find more shops to cater to that group or get groups with similiar customer behavior on board. once you have a big enough community for shops to consider it an oppurtunity and enough shops for people to rather spend small amounts of bitcoins then to go through the hassle of trading them, its downhill from there. its like getting toads to australia. as soon as you get the first few toads in a fitting enviroment they spread like a plague. you however try to build a boat for every toad in the americas.

[fornit]

That is what I do.  It's not flawed logic, it's targeted marketing.  When the 60 yr old women in front of me at the grocery store pulls out her checkbook, my first thought isn't discussing Bitcoin with her.  However, when the the guy in front of me at Starbucks pulls out his phone to be scanned by the cashier for payment, that's exactly what I think of.  It's an easier close because its a smaller learning curve.  When google wallet, Dwolla, or Paypal mobile come up in conversations I introduce bitcoins.  I don't go into politics, speculation, or investing just the competitive  advantages bitcoins can offer over the current system - to people who already know and use mobile payment systems it's an easy sell.  And I would be wiling to bet I can drive more people to Bitcoin by targeting these users than any other demographic.  And that is the goal for me, Bitcoin users, not speculators or investors, because that is what I am and that is what I know.

i agree they are easy to approach, but what can you offer them?
you lack the enviroment. you need ways for them to spend their money. a single shop in new york wont cut it. you have to focus on online shops. and those are equally accessible with a pc or laptop. so why ignore them?

[cunicula]

For remittance, bitcoin is not competitive with international wire transfer in terms of trust, speed, cost, and convenience.

To change this, at minimum there need to be brick and mortar locations for bitcoin/fiat exchange. I am not aware of any city pair that has these.

Wait until bitcoin can deliver a remittance service before advertising one to users.

Bitcoin is a serviceable platform for online gaming and international transfer of digital goods. Why not advertise these angles instead?

[BitPay Business Solutions]

I would encourage anyone that already has an import/export business to add bitcoin exchange in both cities. We will absolutely promote this to millions of people.  I will make a featured listing on our site for each city pair.  It will save HUGE fees over western union.

[cunicula]

I would encourage anyone that already has an import/export business to add bitcoin exchange in both cities. We will absolutely promote this to millions of people.  I will make a featured listing on our site for each city pair.  It will save HUGE fees over western union.

This is great. Wait to do the promotion until you have at least one featured city pair with physical exchange addresses and opening hours. Make sure bitcoin can deliver on whatever is advertised.

[jim618]

Gary Rowe and I have signed up 'MultiBit' as a personal member on LoveBitcoins.org.

I have also added onto the multibit.org website:
1) The fullsize LoveBitcoins.org logo as a link on our FAQ page.
2) a 2/3rds size LoveBitcoins.org logo on our landing page (index.html).

[BitPay Business Solutions]

Gary Rowe and I have signed up 'MultiBit' as a personal member on LoveBitcoins.org.

I have also added onto the multibit.org website:
1) The fullsize LoveBitcoins.org logo as a link on our FAQ page.
2) a 2/3rds size LoveBitcoins.org logo on our landing page (index.html).

Thank you Jim!  When I return home in a few days I will update the site. 

[garyrowe]

In addition to Jim's comments, an upcoming release of MultiBit is expected to have a Hindi translation in place. While this is not expected to be the most common selection for users in India (most will speak English well) it demonstrates our commitment to making Bitcoin a truly global currency. Anyone wishing to contribute their time to add another language need only PM either myself or Jim. Typically translation would take about an evening for a fluent speaker.

To that end it may be useful for LoveBitcoins to offer alternative voice-overs/translations to the standard video. I think the video is great (and even my Mum was impressed so well done) but to a European ear the American accent can sound like a "hard sell" rather than a soft introduction.

I also think that we need to widely publish a recommended free and open source exchange application with clear instructions regarding how to set it up in a range of environments (e.g. Amazon cloud, Rackspace, JustHost etc).

[BitPay Business Solutions]

gary - translations for the site and presentation are already underway

also - I updated the website with the names of 4 new donors!  Thanks guys for your support!

[gnar1ta$]

Site down. Changes coming??

[ahbritto]

Our hosting provider http://www.btcvps.net is having issues.

[BitPay Business Solutions]

We have updated the site to list our newest supporters. Thanks guys!

http://lovebitcoins.org

[Anonymous]

We have updated the site to list our newest supporters. Thanks guys!

http://lovebitcoins.org

Your site looks very nice! Good luck!

Also. Congrats your 250th post. Sr. Member