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Author Topic: Promoting bitcoin  (Read 1192 times)
Seal
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April 30, 2012, 06:51:55 AM
 #1

The success of bitcoin is dependent on more widespread adoption. Word will spread over time but what we are really after is a critical mass whereby bitcoin discussion will go viral and self-promote through its use.

Thinking along the lines of marketing, I remember Firefox did a promotional piece in its glory days where donators gave money towards a full page spread in the New York Times. In return you got your name printed on the advert in a tiny font:

http://binarybonsai.com/blog/the-new-york-times-firefox-ad

Its a smart piece of marketing and for bitcoin, one which I would be happy to take part in.

I'd be interested to hear thoughts on the marketing of bitcoin and if anyone works in marketing, would you be willing to organise something like this?

If there is enough interest, we can get a crowd funded campaign like this up and running.

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Coinabul
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April 30, 2012, 06:55:57 AM
 #2

The success of bitcoin is dependent on more widespread adoption. Word will spread over time but what we are really after is a critical mass whereby bitcoin discussion will go viral and self-promote through its use.

Thinking along the lines of marketing, I remember Firefox did a promotional piece in glory days where donators gave money towards a full page spread in the New York Times. In return you got your name printed on the advert in a tiny font:

http://binarybonsai.com/blog/the-new-york-times-firefox-ad

Its a smart piece of marketing and for bitcoin, one which I would be happy to take part in.

I'd be interested to hear thoughts on the marketing of bitcoin and if anyone works in marketing, would you be willing to organise something like this?

If there is enough interest, we can get a crowd funded campaign like this up and running.
It's much more important right now to develop newbie-friendly user technologies.

We need a SOLID e-wallet. Easier deposit functions, and well, a legal decision about Bitcoin to legitimize it.

Once we have all of those technologies, I think Bitcoin will be ready for promotion, but right now, it's just not ready.

The recent funding of Coinlabs is a good step, we need more legitimate businesses with real funding behind them before Bitcoin can take off.

Edit:

In response to your idea, it's a solid one. There have already been some successful attempts to spread Bitcoin (Bitcoin-100 for instance). I think it'll be another couple of months before Bitcoin is ready for this push though.

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kangasbros
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April 30, 2012, 07:29:49 AM
 #3

I fully agree, developing user-friendly software is a much bigger priority than promoting bitcoin at this point.

realnowhereman
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April 30, 2012, 09:02:51 AM
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I fully agree, developing user-friendly software is a much bigger priority than promoting bitcoin at this point.

Can't argue with this.

I think bitcoin's success is already on the "inevitable" track.  There is enough investment in bitcoin businesses to keep it running.  The question instead now is "what is the fastest route to that success?"

Given how scary a new system of money and banking is for the rest of the world; our concern should be that new people are persuaded to look at bitcoin and find it scarily hard and run away.  We'll only get one chance to win them over.  The fastest route to success is therefore slowness.  Rushing out and finding 100,000 people who will be scared off would gain us nothing (The Good Wife?).  Better to have a good, well tested client; good well-tested online wallets; a wide selection of exchanges; a demonstrable record of security; and some businesses to point at.

The chicken-and-egg problem for a currency means it has to develop gradually, you can have customers who have nothing to buy; and you can't have businesses with no one to sell to.  Each cycle of chicken and egg builds the economy a little more; and that is exactly what appears to be happening.

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April 30, 2012, 12:33:50 PM
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And what if the legal decision is negative? Should we run away from bitcoins?

No, we should expect the states to be scared by bitcoins, and to try to "shut it down". And we should be prepared.

That means we'd better invest in a good P2P client rather that a e-wallet easy to shut down. We should encourage the multiplication of exchanges.

That doesn't mean we shouldn't try to legitimize the use of bitcoins in the eyes of the public. As a great way to transfer money while cutting fees, as a great payment system,...

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April 30, 2012, 01:23:22 PM
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custom magnetic signs for cars

when you drive through, just have it on a side of a car,
later, take it off
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April 30, 2012, 03:17:23 PM
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I fully agree, developing user-friendly software is a much bigger priority than promoting bitcoin at this point.

Can't argue with this.

I think bitcoin's success is already on the "inevitable" track.  There is enough investment in bitcoin businesses to keep it running.  The question instead now is "what is the fastest route to that success?"

Given how scary a new system of money and banking is for the rest of the world; our concern should be that new people are persuaded to look at bitcoin and find it scarily hard and run away.  We'll only get one chance to win them over.  The fastest route to success is therefore slowness.  Rushing out and finding 100,000 people who will be scared off would gain us nothing (The Good Wife?).  Better to have a good, well tested client; good well-tested online wallets; a wide selection of exchanges; a demonstrable record of security; and some businesses to point at.

The chicken-and-egg problem for a currency means it has to develop gradually, you can have customers who have nothing to buy; and you can't have businesses with no one to sell to.  Each cycle of chicken and egg builds the economy a little more; and that is exactly what appears to be happening.


Seems to me we're looking for a delicate balance.

Seal
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May 01, 2012, 01:02:56 AM
 #8

I fully agree, developing user-friendly software is a much bigger priority than promoting bitcoin at this point.

Can't argue with this.

I think bitcoin's success is already on the "inevitable" track.  There is enough investment in bitcoin businesses to keep it running.  The question instead now is "what is the fastest route to that success?"


Valid points from all. I guess the question then becomes, how can we speed up the development of this software. Maybe more backing for some of the crowd funded projects?

Do they exist yet? To answer my own question I guess they do in various arrangements, GLBSE etc...

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May 01, 2012, 02:09:02 AM
 #9

I've been thinking about bitcoin promotion a LOT, and I agree that it needs a little more development before it can be given proper promotion.
After the entry level is lower, giving it the media campaign it deserves should be easy! Cheesy

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May 01, 2012, 09:28:22 AM
 #10

@seal

Great idea. To avoid the problems encountered by Firefox with too many names , I would suggest planning a series of ads each having a set number of names so they remain readable (like 2100 per ad ;o)). However, it might be more difficult for bitcoin than for a web browser to gather such large support
Also, let's not wait until the R&D guys give the green light to the marketing guys: in my experience, it will never happen ;o))

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