Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 232. (Read 1356151 times)

That is a good way to do it as well, maybe do, Grand prize 10k VRC, and then do the other coins split 1/5 for each hour and do a hourly giveaway. Then you could have people put a Email into your drawing and you could contact and support the winners receiving the money. And spend the time educating people on VRC and bitcoin while you have the booth.

This solves both problems as you don't need to spend to much time setting up a wallet and then sending them money, when it really is insignificant, plus the headlines saying someone got 500 USD or w/e is better and then some runner ups so that people feel they get a chance to win, even if not the big one.

take Circle for instance.. recently they have been giving away $10 worth of bitcoin to those who signed up months ago (invites only).. it has really get people I am in the same group on Facebook to want to sign up and ask for links for invites.. there will always those ones who will walk away and there will be ones who will be very excited and interested...for free $5 to $10 in coins

Absolutely! People love free stuff! There was a "Survey" in Europe which found that 90% of office workers would give away their passwords in exchange for a cheap pen.

I think you marketing guys don't see this from the right angle. People love to hear about big money and opportunities, the small $1-$5 range is not interesting. If you tell you can win on the lottery $5 then ppl say, ohhh that's all. So what the lottery companies say? This week the winning is 125 million - and even there is virtually zero chance to win on individual level the lottery is a sustainable business.

So I think you should give the 12,000 VRC to one person at the end of the day with a drawing. But call the Minnesota Star Tribune that you are technically giving away a US$ 1,440,000, and explain in a small print that the amount is derived from the data and events indicate that VeriCoin will be $120 next year, because the altcoin market just like that, explain the Litecoin story that reached $120, etc. Or you just need to activate Lindon the guy in suit or socal who can predict well the $120 price. Anyway, 90% of the bag holders anticipate Vericoin will be one of the top 3 currencies (that means $120 price) so you are not going to mislead anyone saying that you give away US$ 1,440,000. In this case people who did not win will feel that they actually lost US$ 1,440,000 and 2880% ROI and there is a good chance they will buy Vericoin - to balance their loss (that never happened but they feel it did).

If it's marketing BS than it should be a proper BS.

It depends on the people. I'd make a minimum of 5 bucks, and plan to have less people want to get the wallet. People don't know what bitcoin is, so by the time you get explaining to them what a crypto currency is, and how to obtain a wallet ect, you will end up having much less time per person than you plan. A lot of people will come by to talk to you, or look from afar, without any intention of getting free coin, go engage these people on the fence, who may not have a phone. Likely the people who will benefit from this may not even have a smartphone.

I am 31, I don't have a smartphone. If you came up to me, and your pitch was giving me something free on my phone, I would walk by you. So, you have to use the giveaway as 1 tool in your arsenal. 500-600 dollars in giveaways may not be worth the entire 5 hours time slot. Economically if we where a business and had as large an investment in the booth as we did, we would have to beef up the advertising budget significantly to make the numbers work. You MUST use that time better. To spend 5-20 bucks a person when giving them money to lock them in, I think is a good way to do it.

I have to admit I know very little about marketing, generally I am very sceptical about the effectiveness of certain marketing methods like the free give away, but I take your word that it could be very effective. If it works out I will donate after :-))

I understand the constraints of the operation, I was not trolling and was seriously worried that in your place in Minnesota people will be pissed off from the $1 gift. But you know marketing, especially you know what works at your place, so if you say so I am sure everything will be fine.

I am ready to donate 100k VRC in the next 5 minutes to support any ideas that take this coin to the next level :-)) and I said to you I have nothing but respect for your hard work, but this event unfortunatelly will not change anything for vericoin, except that you feel very well that you have done something and probably that makes worthwhile the whole thing. So I am keep waiting for the opportunity to show my support. :-)))

Well... the purpose wasn't so much to actually give them enough money that they can go buy something valuable - more so, so they can feel the experience of using digital currencies. Please keep in mind we are working with a limited budget. As much as I would love to hand everyone that walks by $25 we have a total of just under 12,000 VRC to be handed out. At current prices that's about $500 in USD.

If you would like to donate $5,000 worth of VRC to the cause I'd be more than happy to give each person that walks by $100

Edit: And trust me - I do marketing events like these for a living. You'd be surprised what people would do for a free hand out. Even if it's a pencil, $1, a free sticker. People do love free stuff. Again the more important thing to keep in mind is the fact we want people to #1 feel the experience of using digital currencies and #2 spark enough interest in the story that they want to go home and read more about it. This is not about handing out real cash to let people go out and buy things with it. That's not the purpose of the day.

I thought that event will be in the US, has the location changed to Malawi or Burundi? I mean if the capita per GDP is $300 like in those African countries then the $1 give away could be a very attractive deal for the poor buggers (no disrespect and God bless them it's not their fault their country is fucked-up), but in your place in the US to bother peoples with $1 gifts won't be rather counterproductive?

EDIT:
If here in Europe someone would stop me with a $1 deal that come with a 10 minutes explanation I would be wondering what kind of operation it is. I mean, would you really download an application for $1?

I couldn't agree more about what I say make a lot of sense :-)))
Seriously, thanks for being civil and reasonable, your constructive post it's really refreshing in the middle of continues moaning of over-sensitive prima donnas who can't accept constructive criticism. We have different view on how this coin could succeed, but we could still have civilized conversation.

Probably the biggest discussion we have had on our end is how much VRC do we give away to each person? One thing we are doing is having an "Enter to Win" drawing where we will be giving out $25 worth of VRC every hour to anyone who enters their e-mail into a fish bowl. This will allow for us to collect at the least an e-mail address to follow-up with individuals who visit our booth. That alone will eat up roughly 3k VRC at current prices. Outside of that we were thinking to give somewhere between $1-$5 to anyone else who is interested in downloading the wallet.

If we did $1 per person (roughly 25 VRC) that would give us roughly 320 lots to hand out (assuming we have around 8,000 VRC remaining from the pool). Between my friend and I that would give us 2 minutes per person over the course of 5 hours. If we go the route of $5 per person then we are talking about ~60 engagements throughout the day. This would allow for a more quality conversation almost 5-10 minutes per person. As of now we are leaning towards the $1/person + $25 Enter to wins.

We also want to take into consideration people who don't have android phones that are interested in getting some VRC. While paper wallets would get the job done for that - we are afraid they will just end up in the trash on the way out the door. So for that - our plan is to collect some basic information and follow-up with them after the fact. So for that reason too - we are thinking about putting some VRC aside for those folks.

I think only giving out to 30 people would be a waste. Target as many people as possible and hope we stoke some interest amongst them. If we gave out to X amount of people what will the follow up rate be, I reckon about 1-2%. But its anyone's guess.

Umm.. I have to agree with him $20 does hit a cord with people. I would be willing to give most people gladly 10 min my time for $20. The can easily go buy that new dvd burner they have needed for so long from newegg.

5 hours to distribute the VRC.

lets say you get 12k, give or take. That is 2.4k / hour to give away, or roughly, 400 per 10 minutes.

You will find people have differentiating levels of interest, but you may need more time helping people with a wallet set up. so I would say 10 minutes a person, who you will be giving money to might be a bit optimistic.

Now, you multiply the amount of time by x amount of people you have working at the booth in this scenario.

Say you have 2x,3x people working. then you would have 20/30 minutes to give away 400 VRC per person. Most people will come in groups, and you will be able to get away with using the same time for multiple VRC gifts. Try to find the best balance throughout the day, see how long its taking you to help each person and use the math to create the best possible use of the funds, without over / under allocating them. Every person won't be ready to accept free VRC either. So if you can, make some paper wallets to give out some coins to those who use desktops or IOS.

I think VRC is in good hands! So keep up the good work. I just wanted to toss in some math to think about to help get the best result. I think you need to give away 400 each if possible, that is 20 USD, and it will hit a cord with people, any less they might think its not worth it.

Many thanks to those who recently sent in some more VRC for the fair tomorrow! This wouldn't be possible without the awesome support of the community!!

120 000 and more in one big drop at Mint to very low 8361

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I sent you over a small amount now (50). Will send you something bigger when I get out of work tonight. Thx.

Nice, I meant to ask about the weather. Thanks for the update, and best of luck to you and your team.  Let it rain VRC Saturday.

Sending my latest veripool payment your way...  (it was a nice one)