With bitcoin breaking ATH in matters of hours and its non-stop rally these past few days, many alt coins bleeding by breaking ATL everytime weak hands sold their portions.
Its going to be alt coins shopping-spree soon once the btc rally finished and stabilize its price.
With so many altcoins in their lowest low price, its going to be difficult for ADA to get a big chunk of these investors without marketing.
So, we need to boost our presence in this critical time to benefit from this event.
The marketing team need 120% efforts in their campaign and we, as ADA community, also need to help in their campaign.
Tweeting, blogging or critical news thats attractive to investor to invest in ADA is much needed.
Now is the time for us.
Bitcoin does make the job easier though. Transactions costing 10 dollars are taking hours to confirm. With the outrageous energy consumption, you would hope we could get better service.
I agree with Jeremy on this one.
BTC makes it extremely easy for us. Tx fees and confirmation times are just the start.
That’s one reason to advocate ADA/ € or $ pairs.
But on topic:
Which amount will be invested into ADA depending on the type of investor.
Every investor who is in the crypto sphere for at least a month will see your point: cheap alts.
There are those who are greedy (trying to ride the wave up till the last end) and those who are smart (sell now after x% up) and those who are more swing traders/hodlers.
The last group will see bargains and are looking for a nice entry point (ie. now)
The second group will buy rather sooner than later
The first group will be late to the party
All groups have a certain amount of money where the second and last will be a bigger inflow than outflow from the start. For the first group its undecided, it hinges on the timing.
Which of those groups will go for ADA?
The herde group (first) will probably not return to ADA because there are no seemingly short term quick gains.
The second group will probably return to ADA with a percentage of their money to hold a specific time.
The third group is already looking at ADA because of the potential of great upward gains in the end.
Now to bring it all together: How can we target them?
The first group was maybe with us on the day of extreme gains (probably late to the party). They don’t care about the technology (assumption), and want the money of trading. Question is, do we want them? Are we gonna market them with promises of deadlines etc other than the IOHK is doing now?
The second and third group, knows the tech and wants the release of the deliverables according to schedule. No additional marketing required.
Final words: I don’t think we need extra marketing / communication other than we are having now. We don’t want the daytraders / hit and run investors. We want the long run type of persons who will not talk negatively when the coins doesn’t “moon” in 3 days, not demand explanations when things are taking a while because they have to be stable and thoroughly tested.
Our time is every day, spread awareness, talk about the tech and the team and let people become invested into the idea/vision and not only into the percentage gains.
Steam announced yesterday that they were not accepting Bitcoin as a payment method any longer due to transaction costs and the time it takes for them to clear. When this is coupled with the volatility in price it was making Bitcoin as a payment method unusable.
When the ADA debit card is released it would be amazing to show the world that crypto is a viable currency for over the counter transactions.
Making as much noise about the low fees and fast transactions may get a few people on board who are in this game to use crypto as a currency, not just as an investment.
A key component of a currency is enabling trade of goods based on a shared understanding of the value of some arbitrarily scarce item. The volatility currently associated with crypto coins makes it very difficult to use them as a currency; while its extraordinarily true for Bitcoin right now (and possibly the reason Steam dropped Bitcoin), it’s also true of ADA and other tokens. Steam dropping Bitcoin is not just a failure in terms of using Bitcoin for that kind of thing, it’s a more general failure of using any current crypto token for that kind of thing.
I think ADA should just stay low till the decentralized chain is out. Right now everything runs on IOHQs servers, I dont think its a good idea to massmarket that.
Just buy and build up position now, thats what I do =)