Topic: A little bit of marketing would do wonders for bitcoin - page 2. (Read 945 times)

I'd like to preface this post with a statement: I don't know shit, and I don't pretend to know less than that.

With that said, I am embarrassed to say I just learned about bitcoin. As soon as read my first paragraph on the topic, I bought two coins immediately. I paid a lot. Really, I didn't care - I just wanted to support all the positive elements it stood for. Obviously, I don't want to, but I'm fully prepared to loose my entire investment. I won't complain if they are worth 100k in ten years either.

Shortly after jumping in head-first, I made a few observations from a newbie perspective:

1. I'm waaaay late to the game - this almost kept me from buying. The fact that most of the coins have already been mined has to be a deterrent for other newcomers, which are critical for the bitcoin to peak and momentum to continue. I have met several people that want in, but don't want to spend 2500 for a single coin.

2. Mining - after watching some videos about the farms, I realized that trying to mine my own coin would be alike to buying lottery tickets - Also a deterrent for newcomers to get involved.

3. I know that you can buy a fraction of a coin - but basic psychology has it where we don't want to buy fractions. We want to buy things identified as whole. I think this will be a major factor down the road and will impact bitcoin's growth on a very simple, but obvious level.

I'm sure there are real reasons this can't happen, but I believe assigning names/symbols to lower denominations would be a good solution for new investor encouragement.

The currency name from 36,000 feet should remain "bitcoin" - but lesser denominations should have actual identities. Remove the fraction and give it a name.

Full
Half
Quarter
Tenth:
And so on....

This way people will be more encouraged to hop in, even though they are late to the party. Instead of associating the bitcoin with the 25% remaining/limited amount left to be distributed - this could instantly expand and accurately represent what's left as far as value. Maybe I'm an idiot, but maybe this will open things up to the rest of those that may become discouraged by it's entry point.