FTC Marketing
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Charles Lee’s marketing plan: “Create a silver to Bitcoin’s gold.”
[url=http://www.wired.com/wiredenterprise/2013/08/litecoin/]http://www.wired.com/wiredenterprise/2013/08/litecoin/[/url]
Old news I know, but what are the thoughts from the FTC team or forum members in regards to FTC as the copper/bronze to Litecoin’s silver? Is this a philosophy you guys are staying away from or embracing? Are we an asset class or a currency and is this designation price dependent? Sorry if someone has answered this previously.
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It would be stupid not to want this. In this scenario, It would mean that it would become a three horse race and FTC has beat the competition to become the third most adopted coin.
I am assuming that in this scenario, theoretically, the status quo between the coins would be maintained due to the differing amount of coins in circulation. i.e 21m BTC, 84M LTC & 336m FTC … and this would dictate the inflation of each keeping the value in descending order, respectively.
It is a very simple way of looking at it which ignores lots of other factors.
However there could be something in this power of three thing. In the business world there does not seem to be room for more than three big players in direct competition, In any given market. Example: The Games console market (Sony/Microsoft/NintendoJust a quick observation
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I agree. I feel if FTC wants to become “the community coin” then it needs to speak the community language: price. Then and only then can it tailor it’s values using price as leverage. Perhaps the market determines this as more and more exchanges roll out FTC ability. This is by all means a price race right now for alt coins. BTC isn’t winning because it’s the best. It’s winning because it was the first to spike in price. If technology and implementation is largely indistinguishable among the mass then the power of three will surface and not because of anything but timing and the public perception that these three are the best for price appreciation over the long haul in my opinion.
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[quote name=“new2crypto” post=“39204” timestamp=“1386101053”]
It would be stupid not to want this. In this scenario, It would mean that it would become a three horse race and FTC has beat the competition to become the third most adopted coin.I am assuming that in this scenario, theoretically, the status quo between the coins would be maintained due to the differing amount of coins in circulation. i.e 21m BTC, 84M LTC & 336m FTC … and this would dictate the inflation of each keeping the value in descending order, respectively.
It is a very simple way of looking at it which ignores lots of other factors.
However there could be something in this power of three thing. In the business world there does not seem to be room for more than three big players in direct competition, In any given market. Example: The Games console market (Sony/Microsoft/NintendoJust a quick observation
[/quote]Very interesting ideas, and i completely agree.
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Good marketing is about leadership. It involves action and practices not just words. It’s no use saying your coin is copper to silver or other such analogies if you don’t then follow through and do the very action you are asking of the public.
The most important aspect about the price isn’t its high value against a bunch of corrupt fiat currencies (which are falling by the way) to most folk out there they want stability of price as measured against things like labour, services, food and other life essentials.
The day we stop measuring our success against some arbitrary cross like USD will be a proud day.
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[quote name=“new2crypto” post=“39204” timestamp=“1386101053”]
In the business world there does not seem to be room for more than three big players in direct competition, In any given market. Example: The Games console market (Sony/Microsoft/NintendoJust a quick observation
[/quote]Yes this is an astute observation. Apple, Microsoft, Linux. Facebook, Twitter, Google.
However you also find that there is an outsider in 4th place like Myspace followed by a healthy long tail of niche offerings tailored to specific needs like Tumblr, Path etc.
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When I first time hear about FTC there was some description like:
[i]“It has a block reward of 200 coins and will have a total of 336 million coins. This makes it four times that of LiteCoin. It joins the crypto currency family by positioning itself with Litecoin in the same way that Litecoin is aligned with Bitcoin. It does not compete with Bitcoin or Litecoin, it complements them.â€[/i]
After that a lot of things had changed and in a really short time. Don’t even know how many different alts there is at the moment and all time new one’s appear. So there is hard competition of adoption and that is only way for coin to survive. Without some technical disaster I believe BTC had made it’s place as one of remaining currencies. It has so big lead on adoption and that train is going fast now. All others are still on speculative level, even LTC. Markets will decide how many major cryptocurrencies remain in future.
In current environment Feathercoin shouldn’t anymore set itself as a position being “bronze†after LTC & BTC as it’s marketing strategy. It should openly aim to become the widest adopted and used cryptocurrency. For Feathercoin it should not matter which and how many other coins also success to survive in this competition.
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And yet this level of adoption, achieved by Bitcoin, has occurred in the space of just 4 short years. This from nothing, to where it is today. It is easy to forget just how short a period of time that really is.
Now that the precedent has been set and the infrastructure is developing, along with the awareness around it, I believe that other cryptocurrencies could develop to similar levels of adoption in even less time than this.
People live in the now and make big assumptions, but you have only got to look four years back to realise just how much has changed, and realise that assumptions, such as bitcoin being the one and only, are foolhardy at best!Just my 2 p’s worth
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I have a feeling that Litecoin will supersede Bitcoin as that it’s available to anyone with a computer and Bitcoin is over farmed with technology specifically for it’s purpose. I’m uncertain if there will ever be technology like that for Scrypt based currencies, but I hope not. The average person should be able to make something out of it. Once something stops becoming available to people it starts becoming worthless. Accessibility is value.
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[quote name=“Ville” post=“39266” timestamp=“1386110545”]
When I first time hear about FTC there was some description like:[i]“It has a block reward of 200 coins and will have a total of 336 million coins. This makes it four times that of LiteCoin. It joins the crypto currency family by positioning itself with Litecoin in the same way that Litecoin is aligned with Bitcoin. It does not compete with Bitcoin or Litecoin, it complements them.â€[/i]
After that a lot of things had changed and in a really short time. Don’t even know how many different alts there is at the moment and all time new one’s appear. So there is hard competition of adoption and that is only way for coin to survive. Without some technical disaster I believe BTC had made it’s place as one of remaining currencies. It has so big lead on adoption and that train is going fast now. All others are still on speculative level, even LTC. Markets will decide how many major cryptocurrencies remain in future.
In current environment Feathercoin shouldn’t anymore set itself as a position being “bronze†after LTC & BTC as it’s marketing strategy. It should openly aim to become the widest adopted and used cryptocurrency. For Feathercoin it should not matter which and how many other coins also success to survive in this competition.
[/quote]-------------[b]Markets will decide how many major cryptocurrencies remain in future.[/b]-------------
I think you are right and as I said markets are naturally determined by ‘valuations’ (any ‘investment’ market that is) so my point is, if you’re not playing the price game first to garner the attention, means, and community powerful enough to push forth your values, ideals, and mission, how are you going to do it? Price game second?? And if the answer is price game none at all, then I feel we’re hundreds of years away from that. We are in the “transfer period.” The potential transfer from fiat to crypto. As such, price is a natural indicator and directional mechanism for the market and they will follow it to safety. If we don’t want to hinge on price then maybe some time in the future I will know that my five such and such coin is simply equal to five such and such coin and I can trade and purchase and enable an exchange of goods this way because by that time we don’t need a transferable equivalent or valuation to tell us we’ve made a good investment. But for now I find it extremely difficult to place value on intrinsic symbols of ethos and count on this symbolism to take you to where you want to go at the current stage of this transfer period in crypto-currency. Future value: is the value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today. If fiat worked itself to our current price game and global economy on stilts (A to B) then crypto must go the opposite way (B to A) – start with the price game and end up where you want to go and then…make it all right.
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It involves action and practices not just words. so I have to jump through hoops.
Step One: build FTC pool , create a lot of it.
Step Two:set up or buy a FTC exchange, find its price.
Step Three: spread FTC,let more people to use for good or service.Go ahead!
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If FTC become to payment of HYIP, MATRIX INVEST program…I’m quite sure FTC will be strong.
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Lizhi, go for it sir, I have faith in you!
It is interesting though that merchants around the world really started to truly pick up BTC as a payment option once it hit its insane levels. And now it could be widely accepted in the near future with the premise that it’ll be exchanged in commerce as mBTC, etc. That price appreciation of BTC is what it took for the community to accept it, parse it out, and identify the exchangeable units within the whole.
mFTC anyone?
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[quote name=“chatig89” post=“39449” timestamp=“1386146598”]
If FTC become to payment of HYIP, MATRIX INVEST program…I’m quite sure FTC will be strong.
[/quote]No one would trust it.
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Yes, but I think FTC will be popular first :). Ex: egopay, perfect money, or libertyreserve…
BTW, that is only my tiny mind. I believe FTC team will have solution to make FTC become to strong coin. -
I also believe the FTC team will find a solution…
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[quote name=“chrisj” post=“39249” timestamp=“1386108868”]
Good marketing is about leadership. It involves action and practices not just words. It’s no use saying your coin is copper to silver or other such analogies if you don’t then follow through and do the very action you are asking of the public.The most important aspect about the price isn’t its high value against a bunch of corrupt fiat currencies (which are falling by the way) to most folk out there they want stability of price as measured against things like labour, services, food and other life essentials.
The day we stop measuring our success against some arbitrary cross like USD will be a proud day.
[/quote]Great post!
You should start the next “Feathercoin Official Weekly Update” with this, more people need to read those words and understand the true meaning of what it implies.
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[quote name=“Horizon” post=“39086” timestamp=“1386079345”]
Charles Lee’s marketing plan: “Create a silver to Bitcoin’s gold.”[url=http://www.wired.com/wiredenterprise/2013/08/litecoin/]http://www.wired.com/wiredenterprise/2013/08/litecoin/[/url]
Old news I know, but what are the thoughts from the FTC team or forum members in regards to FTC as the copper/bronze to Litecoin’s silver? Is this a philosophy you guys are staying away from or embracing? Are we an asset class or a currency and is this designation price dependent? Sorry if someone has answered this previously.
[/quote]We are not an asset class. We are a spaceship. With the kind of active mindset we have here, I expect new cryptos will come to us for advice and help on setting up their communities.
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I like the sound of that zerodrama
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The reason I joined here is because Feathercoin has a great community focus.
Community = trust. Trust is something that all other cryptocurrencies are sorely missing.
The fact that the currency can put faces to the numbers is a very compelling marketing message. Especially when most of the pricing is based on speculation.
Cheers,
Joe
