What type of incentives will bring us more buyer/seller traffic?


#1

Hello folks!

So I was wondering what type of incentives that you personally feel would bring us more activity on the BitBay Marketplace. Right now, we have the software - fully functional - and a handful of listings, but not nearly as much as we would like to see of course!

While there are naturally several small barriers that perhaps make BitBay a bit cumbersome at the moment for real commercial use - certainly we need a quicker way to download the blockchain, perhaps web access to the market, and a native mac build - but what type of incentives do you think would open people’s minds to giving BitBay a try for whatever product/service they may be selling? How should we implement these incentives?

Personally, I believe that to bring consumers we simply need more items on the BitBay marketplace, and for cheap! This platform has the potential to save people a lot of money due to the absence of third-party arbitration, listing fees and so on. The problem in my opinion lies in getting businesses or your average joe with items to sell convinced of the utility and safety of the BitBay platform. I believe we should perhaps offer BAY to merchants in order to kickstart the availability of items on the market, some sort of “X BAY coins for Y items placed on the market for Z amount of hours” or reward them for actually selling items. I am not sure exactly how this scenario would pan out, so that is why I would love some input from the community. Perhaps someone out there has a better or more nuanced idea to get people interested in using the client? Share your thoughts!


#2

I think a partnership/integration with bigcartel.com or a similar service would do BitBay a huge service in terms of adoption.

Both sides would benefit from the partnership if I understand the Bitbay platform enough. People who use bigcartel.com and similar services are self-starters and would more likely welcome a new possible revenue stream.

Some may ask where would the benefit be exactly? Often times when buying things from entrepreneurs you often wonder if they will deliver the items as promised. Bitbay helps that will their trust less system. This assurance allows new potential customers into the market.

The Bigcartel web interface also bring something missing from the GUI as I’ve seen with looking at the client from a windows desktop. The client doesn’t look optimized for someone who’d like to showcase a variety of items of various sizes.

My 2 cents. Hope it helps.


#3

Thanks its a great suggestion … even though the interface of bitbay market will eventually get a revamp (its been planned) it will probably greatly help to get some partnerships going


#4

I believe the marketplace needs the type of vendors that have shops on Etsy. People who sell handmade jewelry, vintage trinkets, and artists like painters. The best way get that type of vendor would be to message them through the etsy website. Another idea would be for the marketplace to attract a fairly well known artist and have them exclusively use marketplace to sell their art.


#5

Official BitBay merchandise! Something not expensive so that people would be willing to try unbreakable contracts without much risk. And it’d be a great way to support the team!


#6

@PisceanLuva Yeah the benefits are many. No fees. Self assurance. Instant transactions. Personal banking. Cheaper prices (as seller can lower the prices by expecting price growth). Anonymous statues. Etc… Crypto is wonderful!
Don’t worry the client GUI is planned to do be updated for the beginning of 2018. It’s gonna be awesome.

@squigg Some guy is talking about making some cheap Bitbay merchandise from China (tee shirts, mugs. etc…). We’ll most likely see that soon!

@2Pan2Bril2 Good idea. I plan to do that myself too. :slight_smile:


#7

Additions to new exchanges, for example the money that poured into LTC once it was added to CoinBase. The adaptation of BAY to Binance would be very beneficial in my opinion.


#8

Very good suggestion! Definitely something we want to do.


#9

You paint? @Mantrack


#10

No but I have some custom made jewelry I could sell later on!


#11

I think those who sell/buy via Etsy will definitely be interested - most of them use Instagram as their main source of promotion, so it would be good to reach out to them via this platform!


#12

would it be possible for BITBAY to set up a BITBAY-BANK so i can transfer my $1000AUD bank to bank to buy my BITBAY coins???
Still have not any yet,too expensive and controled.


#13

Would be cool but this as you said heavily controlled as centralized exchanges (like coinbase) are because of legal imperatives! The best is to go fully peer to peer. You could buy some BAY using the desktop client if someone is willing to sell some (like if you were using localbitcoin.com but more secure).


#14

Just some fast brainstorming, but…

  1. One in a while, do a promotion, and sell some items below their market price on the marketplace (for much less than what they are worth in real life). This will attract merchants to Bitbay, that are willing to hunt for cheap items they can make money with. It could be anything from video games to books to other goods that are high in demand. This could also be a promotion for charity (selling donated items at a low price on Bitbay, attracting traffick and more users and donating the profit to charity for PR).

  2. Promotion! Mainstream awareness of the BitBay project. Seriously, it has better features than the competition, but hardly anybody knows about it between the thousands of competing projects. “Spreading the word” online may be effective, and getting more actively involved in online communities (Facebook groups, Reddit, 4chan, ). I think one of the reasons BitBay is undervalued, is because it is more obscure than it should be. Maybe set up some promotions that involve online forums and communities? These communities is where the majority of speculation happens. Create infographics that users can post in forums that demonstrate why Bitbay is better - maybe even reward users for reposting them.

  3. Bitbay giftcards? $1 billion in gift cards go unused every year by big marketplaces such as Amazon. Though this is harder for a marketplace that already uses tokens, I think the concept of spreading “gift cards” that constitute for a certain amount of BAY in dollar value could attract customers.

  4. Let the BitBay team start up their own webstore that sells items through the Bitbay marketplace. Maybe it is similar to my idea nr. 1 one, but the more utility the marketplace has, the more it will start to bloom as it draws competitors and customers alike. Why not take the initiative and try to profit off your own marketplace while simultaneously boosting its utility?


#15

I like the Bitbay gift card idea.
Actually, I like all gift cards in general, especially the ones that can be sent via email.
Bitbay should partner with Pete’s Coffee or some good chain like that. Buy a huge amount of gift cards at a discount and resell them on Bitbay.
I posted a few items but after several times with no interest, I got bored. And it was tedious to keep my computer on all the time.


#16

Thanks for the feedback. Although you don’t need your computer to stay running but you should have it on once in a while at least so that you can check for notifications and keep the offers up (it is automatic each two days if I remember well).


#17

Yep, social media marketing nowadays should be going through social media as it’s the most popular and most visited web platforms to get ad. To keep your instagram account on a decent level, check https://zen-promo.com/free_instagram_followers it will do it for you.