Topic: 2013-10-29 Wired: Take a Tour of Robocoin, the World’s First Bitcoin ATM (Read 661 times)

Looks like we have the 1st in a series of many


    
Promotion of Bitcoin to the Public . Give them something FREE
June 03, 2013, 07:15:49 PM
   
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This thread is for ANY suggestions that can encourage the public to use bitcoins for everyday purchases. Some adventurous types may wish to try the ideas in their area.

I have given some thought on how to achieve greater awareness and USAGE of Bitcoin by the public. I remembered advice on launching a new magazine YOU MUST GIVE THEM SOMETHING FREE!!!


Here is my first contribution.

Coffee tea and cakes at cost as the margins are high

http://www.coffeeforums.com/forum/coffee-industry-forum/5434-profit-margin-drip-coffee-versus-expresso-drinks.html

1 Target your area and identify a high pedestrian traffic/ low rent location

2 Open a small coffee shop which ONLY accepts bitcoins or has a bitcoin price 1/3rd of the fiat value of the products served.

3 If the customers wish to avail of coffee at 1/3rd of the regular price then they must pay in bitcoin

4 The promo period ( maybe 30 days ) should offer products at 1/10th of the fiat price..

Make sure your product and service is GOOD and comparable to major high street brands

Word should spread that coffee is 10 cents and customers should be abundant.

You may wish to only offer the "free" beverages while maintaining the bakery products at regular prices in order to off set or even turn a small profit.

At some point having built up brisk trade you may convert to regular prices with a bitcoin option.

5 Of course each outlet would probably need a bitcoin ATM or similar for new clients to be able to buy coin and the producers of the ATM may well wish to tie up as this will promote their atms

Remember the purpose initially is promotion not profit and maybe the Foundation or similar body whose interest is promotion of bitcoin can subsidize approved business plans ( to the value of 30 days x 30cents x cups sold which should not be too expensive)


This basic idea is subject to change based on feedback.

Legal note. check your States laws a) refusing to accept fiat is legal or b) having discriminatory pricing http://www.ftc.gov/bc/antitrust/price_discrimination.shtm

http://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx




The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

I am certain that a reasonable solution can be found to comply with all laws.

The press should give wide publicity which can only help the cause. "10cent coffee with Bitcoin"


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Re: Promotion of Bitcoin to the Public . Give them something FREE
June 05, 2013, 12:56:49 AM
   
Reply with quote  #2
This is a brilliant idea but not very practical for most bitcoin enthusiasts. There are various obvious reasons like 1) we have our day jobs
2) we might not be interested in setting up a new business just for the purpose of advertising
3) making quality coffee can be more challenging that it looks (at least for us with no background whatsoever)
4) ....

Supporting your idea however, I suggest something slightly different:

Find an excellent coffee shop and convince them to accept Bitcoin. Make it appealing to both the owner and to the customers. For instance, ask the owner to give 50% discount for the purchases in bitcoin and tell her that you will compensate for that discount and even pay her extra 10%. Win for the shop owner, win for the costumers. So for every $3 coffee that is sold in bitcoin, you have to pay $1.8 ($1.5 to cover the discount and 30 cents incentive for the shop).
If you manage to sell 200 coffees this way, it means that you have gained a huge market penetration. And cost will be only $360 ($1.8 x 200) . This is much reasonable, imho, than setting up a new business that you have no experience in.
Maybe Bitcoin foundation are willing to help people by subsidising this amount to some degree.
   

    
Re: Promotion of Bitcoin to the Public . Give them something FREE
June 05, 2013, 09:50:17 AM
   
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Thanks for the input.

Your idea to convince existing outlets is cheaper. faster and less complicated and is better for promotion but not for those who may eventually wish to have a business (eg those without work.) I suppose they are two different camps.

The current problems I have noticed is that I know of  no Organization that seems to be focused and  engaged  in promotion to the general public which I believe is central to wide spread adoption . Maybe were not yet ready in terms of both organization and infrastructure There is also the problem of how/who will fund it as there are many projects which are competing for available funding ergo the open your own business option.

Nevertheless I think its time or almost time to start the ball rolling on getting hundreds of thousands of citizens buying everyday needs with bitcoin and is the reason behind this thread. Raising public awareness and usage will definitely have a strong positive impact on bitcoin. Volume of purchases, ownership of coins, projects and bitcoin oriented businesses should increase which is a good result.

Well it's at a coffee shop... so it fits...

Overpriced coffee for lazy people who don't want to brew their own cup....

Overpriced bitcoins for lazy people who don't want to register with random online exchanges and transfer funds...

EDIT: PS, I'm jelly

http://www.wired.com/wiredenterprise/2013/10/bitcoin_atm_gallery/