Bitcoin - Magic Computer Money

[Gareth Nelson]

Ira (bearbones) and I were chatting today. We've come up with a new slogan which should be made the official slogan of Bitcoin:

Bitcoin
Magic Computer Money

So the new strategy is that whenever you're introducing Bitcoin to someone, don't try to explain how it works, or why it's so amazing. Just say, "it's magic computer money." 

Also, when users open up the Satoshi desktop client software, there should be a new splash screen that flashes black and yellow real fast for about 5 seconds and it should say "MAGIC COMPUTER MONEY"

Thoughts?

That's essentially how I explained what bitcoin is when I sent a casascius bar to my grandfather as a gift.
"It's magic computer money"

gareth, you are in Manhattan right? ask your advertising-industry friends what they think.

lol, no - i'm in wales

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*Magic Money
*Internet Money (my favorite, totally generic yet instantly understandable by 99% of population, shows confidence in taking the crown as the Internet money, implicitly crushing all other past and future pretenders)
*Global Money
*Magic Internet Money
*Global Internet Money
*Smart Internet Money

"Computer" or "Mobile" are excessively restricting adjectives, IMHO...plus "Mobile" will not translate well to other languages where different terminology or shorthand is commonly used to mean "Mobile Phone"...

[paulie_w]

that is much less effective than "magic computer money", sorry.

'engineered' makes it sound like it's something very technical. that's not a good way to sell it to people on an emotional level.

That's because bitcoin as a system is very technical, and well thought out.  You don't need to know exactly how your bank is protecting your money, just that they have a good system.

A modern Toyota car is incredibly complex and technical, but people like them because of their reliability and durability.  Consumers like Toyota engineering and they feel safe with their products.  I even hear "German Engineering" as a desirable characteristic from people who can barely open the hood of their car.

Maybe "engineered" isn't exactly the right word to go with, but the slogan needs to set bitcoin apart and offer a high level description at the same time.  People need to know bitcoin isn't some short-sighted nerd-fad so they don't discount it right at the start.  We need people to take it seriously and think that it sounds trustworthy.

in terms of what works in marketing, this kind of thinking on a mainstream level went out the window in the late 1990s. the emotional sell is where it's at and the technical details don't matter. the more you add, the less effective this effort is going to be.

[paulie_w]

*Magic Money
*Internet Money (my favorite, totally generic yet instantly understandable by 99% of population, shows confidence in taking the crown as the Internet money, implicitly crushing all other past and future pretenders)
*Global Money
*Magic Internet Money
*Global Internet Money
*Smart Internet Money

"Computer" or "Mobile" are excessively restricting adjectives, IMHO...plus "Mobile" will not translate well to other languages where different terminology or shorthand is commonly used to mean "Mobile Phone"...

we're talking about an english-language campaign here, addressed at an english-speaking audience. don't expect what works well in one language or region, to work well in others. that said, i've traveled pretty extensively and "mobile" seems pretty universal, with some exceptions.

BUT... "Magic Internet Money" is a pretty good compromise, if that's what we're going for here. it's a great counter to the critics who call it that condescendingly, embracing just so.

Bitcoin: Magic Internet Money
Ever think that money could be magical?

[paulie_w]

i want to really stress not to say much more than 'it's magical'. i've seen a lot of people trying to extoll the virtues of bitcoin in terms of:

- you can manage it yourself!
- there are no banks!
- it can be anonymous!
- you can buy drugs and influence the creation of titty pictures with it!

and almost none of this gives the average person any degree of comfort.

if you're looking for the mainstream byline, the sell is "it's magical", nothing more.

[fabrizziop]

Actually my family called bitcoin that way when I explained it to them. They still don't understand

[runeks]

I've always liked the term Internet cash. Cause that's really what it is. We've never been able to send money to each other over the internet before. We always had to go through a third party (bank). Now it's possible to send it to each other directly.

LOL people, again, I was joking  Does one need to use [sarcasm][/sarcasm] tags to convey sarcasm???

That's the thing about sarcasm on the internet. It's not funny if you reveal it's sarcasm, and we have no way (body language, facial expression) to tell if you're joking.
http://en.wikipedia.org/wiki/Poe%27s_law

[TheBitcoinChemist]

if you're looking for the mainstream byline, the sell is "it's magical", nothing more.

I disagree.  Simply, "it's a cheaper way to buy things over the Internet" is a winning soundbyte.

[paulie_w]

I've always liked the term Internet cash. Cause that's really what it is. We've never been able to send money to each other over the internet before. We always had to go through a third party (bank). Now it's possible to send it to each other directly.

it's too vague/non-distinctive. also, the mistake in this idea is that you're once again playing to a technical property. in this case, the liquid property of "cash" vs all the other methods of payment.

too specific, not emotional enough!

[paulie_w]

if you're looking for the mainstream byline, the sell is "it's magical", nothing more.

I disagree.  Simply, "it's a cheaper way to buy things over the Internet" is a winning soundbyte.

once again:

- it is most effective to sell to emotional response.
- "cheaper way to buy things over the internet" is not an emotional sell.
- bylines and catchphrases (messaging in general) don't need to include FACTS to be effective or relevant.
- unless they are ethereal ("magic"), definitely don't make statements that you can't guarantee.

all of you guys/gals who are ignoring what I am saying about that: please ask someone you know who works in the marketing and advertising industry. convey your ideas and see what they say. i'm quite sure they'll say the same things i'm stating above.

[TheBitcoinChemist]

if you're looking for the mainstream byline, the sell is "it's magical", nothing more.

I disagree.  Simply, "it's a cheaper way to buy things over the Internet" is a winning soundbyte.

once again:

- it is most effective to sell to emotional response.
- "cheaper way to buy things over the internet" is not an emotional sell.
- bylines and catchphrases (messaging in general) don't need to include FACTS to be effective or relevant.
- unless they are ethereal ("magic"), definitely don't make statements that you can't guarantee.

all of you guys/gals who are ignoring what I am saying about that: please ask someone you know who works in the marketing and advertising industry. convey your ideas and see what they say. i'm quite sure they'll say the same things i'm stating above.

Oh, I see what you are doing here.  I'm opposed to the idea that bitcoin requires any kind of deliberate marketing, and certainly doesn't need any kind of emotional sell.  The economic advantages are all that's necessary to get people to start to use it, and once we break the mainstream barrier (roughly 12% of the population has heard of it) then everything is self perpetuating anyway.  If bitcoin needs a marketing plan to succeed, than it really is just a scam & I don't want to have anything to do with it.  But that's not what it is, in marketing parlance, it just 'sells itself' on it's own merits.  The people who understand it will benefit by joining this economy earlier rather than later.  Let the late comers come on their own time.

[paulie_w]

Oh, I see what you are doing here.  I'm opposed to the idea that bitcoin requires any kind of deliberate marketing, and certainly doesn't need any kind of emotional sell.  The economic advantages are all that's necessary to get people to start to use it, and once we break the mainstream barrier (roughly 12% of the population has heard of it) then everything is self perpetuating anyway.  If bitcoin needs a marketing plan to succeed, than it really is just a scam & I don't want to have anything to do with it.  But that's not what it is, in marketing parlance, it just 'sells itself' on it's own merits.  The people who understand it will benefit by joining this economy earlier rather than later.  Let the late comers come on their own time.

i think the industry has jaded me to the point where i doubt the possibility of this.

nothing is inevitable.

[TheBitcoinChemist]

Oh, I see what you are doing here.  I'm opposed to the idea that bitcoin requires any kind of deliberate marketing, and certainly doesn't need any kind of emotional sell.  The economic advantages are all that's necessary to get people to start to use it, and once we break the mainstream barrier (roughly 12% of the population has heard of it) then everything is self perpetuating anyway.  If bitcoin needs a marketing plan to succeed, than it really is just a scam & I don't want to have anything to do with it.  But that's not what it is, in marketing parlance, it just 'sells itself' on it's own merits.  The people who understand it will benefit by joining this economy earlier rather than later.  Let the late comers come on their own time.

i think the industry has jaded me to the point where i doubt the possibility of this.

nothing is inevitable.

And Bill Gates considered the Internet to be a fad.

[LightRider]

Money is already magical. It's not real, doesn't exist, but people behave as if it does. Like any other religion really.

Money most certainly DOES exist. I have some in my wallet. And it is nothing like religion - valuation of monetary instruments comes from observations and facts of the real world.

Santa Clause most certainly DOES exist. I have seen him every year at the mall. People line up to talk to him. He's certainly part of the real world.

[phelix]

"digital gold"

+1

[BCB]

Acapulco Gold?

[FlipPro]

attention everyone who has not worked in marketing ever in their lives:

selling an idea or a product is NOT about explaining the technical merits or even being accurate in the descriptions of the product.

what you want to build is an emotional connection and therefore an emotional interest. everything else will fail, even if you intend only to sell it to 'technical' people -- they are not unsusceptible to the basic emotional influences, even if they say they are.

+1000

Wish this forum could echo this on a daily basis.

[BCB]

Not everyone can, wants to or has to understand the necessary power of effective marketing to increase the awareness of bitcoin into the consciousness of the general public.  However I think what this thread is bringing to light is that there are some who can and should take the lead in this area.  

[bitlizard]

Bitcoin 'Fair Trade Money' I thought that would be a good slogan for dealing with small independent coffee shops that market fair trade coffee.

[MoreCowbell]

I fully understand the idea of marketing on an emotional level, but using "magic" in relation to anything financial is only going to evoke the emotions of being scammed.  Financial magic = SCAM.  The emotional response we should be aiming for is something that builds trust or confidence.

As others have stated, bitcoin will likely sell itself on its economic merits as long as we don't scare people off.

I'm liking the basic slogans thrown around in this thread:

"Internet Cash"
"Digital Currency"

Some new ideas that fall more into the emotional-marketing category:

"Currency of the Future"
"Modern Money" (some variation on this that sounds much slicker)