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What If Your Employees Want To Get Paid In Bitcoin?

What If Your Employees Want To Get Paid In Bitcoin?

Whether you consider it a bubble, a trend or the next big thing, Bitcoin—and cryptocurrencies like it—is a force to be reckoned with in the modern economy. Bitcoin’s meteoric rise over the past year has pushed it onto the list of assets that savvy investors want in on—with a growing list of other cryptocurrencies in hot pursuit as the 'Next Big Thing.'

Bitcoin’s technology has the full potential of becoming the new reality,

but it won’t be there yet until it becomes a true and viable alternative to traditional money.So what happens if your employees start asking to be paid in Bitcoin instead of your country’s national currency? While you’re unlikely to have a critical mass of employees begging for Bitcoins yet, it’s already starting to happen and you want to consider the norms of tomorrow. Here’s what you need to know, so that when the future comes, it won’t take you by surprise.

Is It legal?

The answer isn’t simple. In some countries, the question of whether you can pay your employees in Bitcoin may be a non-starter. The currency is illegal to varying degrees in Morocco, Ecuador, Nepal, Bolivia and China. That list may get even longer in the future. With the spotlight growing on cryptocurrency, there’s a risk that governments of additional countries will rethink its legal status. In the United States, at least for now, there’s no reason that you shouldn’t theoretically be able to pay your employees in Bitcoin. In reality, though, it would be incredibly difficult to comply with U.S. tax laws if you decide to make the move.

That’s because you can only withhold taxes for employees in U.S. dollars, and you can only claim payroll costs in U.S. dollars on company tax returns. Your company’s books would have to track the exact dollar value of the corresponding Bitcoins. None of the major financial ledger systems, including SAP, Intuit and Xero, have a mechanism that allows for that. At the moment, adhering to legal standards would simply be a tracking nightmare.

Are the rules going to change?

Governments are trying to figure out exactly how to navigate cryptocurrency. The rules are still being written. While it could be years before a comprehensive approach is set in stone, the direction that governments are heading in is toward more regulation. The UK and the EU already plan to crack down on Bitcoin.

The U.S. is likely to follow with its own restrictions for several reasons. Right now, the dominance of the U.S. dollar gives the U.S. government powerful tools to impact international policy. They can freeze assets, deny assets and control currency flows. Avoiding government interference is one reason why criminals conduct illicit business in Bitcoin, and that the administration has recently called for more regulation. It’s possible that there may be a middle ground where Bitcoin becomes a government-controlled technology that still maintains a degree of openness. Either way, the rules surrounding Bitcoin are likely to change, and they’re likely to change quickly.

Will it maintain its value?

Cryptocurrency has no inherent value. With no underlying security or asset, its worth is purely dependent on what someone else will pay for it and who will accept it as currency. While that’s technically true of the U.S. dollar as well, the major difference is that no major mainstream companies have signed on to accept Bitcoin—or any cryptocurrency, for that matter. If a company like Google, Apple, Amazon, or Square were to come out and agree to accept Bitcoin payments, they could propel Bitcoin into a more permanent state. Otherwise, there’s a huge risk that it could just be a fad. Cryptocurrencies can fall out of favor—just look at what happened to ShadowCash.

That’s risky not just for the employees being paid in Bitcoin, but also for the companies paying them. Even if employees agreed or asked to be paid in Bitcoin, you can imagine that if the value of Bitcoin began to spiral downward, so would employee morale. Bitcoin’s technology has the full potential of becoming the new reality, but it won’t be there yet until it becomes a true and viable alternative to traditional money. Companies should think carefully about whether they want to pay in Bitcoin before it does.

Is it worth the hassle?

With so many grey areas and so many logistical hurdles to overcome, the next question becomes: even if it’s possible to pay employees in Bitcoin, why bother? Is all of the hassle worth it? For some companies, the answer could still be a clear and resounding “yes.” Paying in Bitcoin can be a unique attraction for acquiring new talent. It can draw the type of innovative, early adopter candidates that banks and tech startups love. In a world where competition for the best minds is fierce, that can make a difference. Taking a risk to be part of the Bitcoin experiment can also pay off in terms of building a company’s brand. Jumping in can show leadership and demonstrate that a company is financially and technologically savvy, and is ready to push the envelope.

Looking Towards the Future

We’re already moving past the “what if” stages of paying in cryptocurrency, with Japan’s GMO Internet Group paying some of its employees in Bitcoin. With the recent stock market correction and continuing concerns about further losses, alternative compensation methods could become even more attractive than they already are. Working around the complications of paying in Bitcoin may tricky,  but a committed CEO can push the agenda through. Paying in Bitcoin may seem like a speculative exercise now, but one day soon it could become a reality.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Marketing Strategies Used To Build A 9-Figure Fitness Company And What Marketers Can Learn

Marketing Strategies Used To Build A 9-Figure Fitness Company And What Marketers Can Learn


Andy Frisella is no joke.

While he was growing up outside of St. Louis, Missouri, Frisella sold anything he could get his hands on — baseball cards, lemonade, even light bulbs — cultivating the business skills he would later use to become a successful entrepreneur. Dropping out of college to start his first business, Supplement Superstore, with a friend, Frisella didn’t take in more than $200 a day for his first 8 months. It took 7 years to make more than $695 in a month. Today, Frisella is the CEO of a family of brands that brings in more than $175 million a year in revenue. How did he get there? Marketing plays a key role in the story. Here are 5 marketing strategies from Andy Frisella.

Marketing Is A Branding Game

Frisella believes that branding, rather than direct-response sales, should be the goal of any marketing strategy if your goal is to build a solid brand. While direct response has its place and offers instant sales, the key is to use branding and direct response in harmony. Frisella says, “The way [customers] buy isn’t, ‘I saw an ad for this company, so I’m going to buy their stuff now.’ They buy because they get familiar with your company.” He recounts the many times he invested in an advertising campaign expecting quick sales, only to be disappointed. He realizes now it’s because he was investing in short-term advertising for a product, rather than long-term branding of his company.

Frisella’s brand was created by slowly and steadily building a reputation among customers, not with quick-response advertising. He was dedicated to being a consistent and reputable vendor. Frisella warns business newbies not to be someone “who sells a product instead of building a company. There’s a big difference.” Brief video from branding guru David Brier on what makes one form of branding successful and another unsuccessful.

Use Social Media Right

If you are building a brand, Instagram can be useful. However, Frisella advises against using it as a sales tool. “You should be looking at Instagram as a sort of introduction,” he says. Relying on a concept he calls “focused engagement,” Frisella uses Instagram and other social media platforms as a means to constantly connect and engage with customers, instead of expose his brand to them. Frisella focuses on “micro-influencers,” or accounts with 1-100,000 followers, rather than those with a million followers or more.  

Frisella believes these smaller accounts are more likely to have an active, engaged community of followers, thus providing more “bang for your buck.” Frisella sees branding as building relationships with customers, and he knows to look for social media presences that actually have a relationship with their followers, rather than those that offer superficial exposure.

Avoid This Common Mistake When Using Social Media

Of course, Frisella has occasionally made mistakes with social media, and he doesn’t shy away from warning against its misuse. “Looking at Instagram as a sales tool…you’re never going to sell anything,” says Frisella. “I’ve tried.” Frisella says that he has gone the route of paying major influencers big money to simply expose his product to their millions of followers. However, representing a product none of their followers cares about is no way to actually sell your product. Don’t repeat this common mistake of confusing eyes on your product with interest, and keep your brand pointed toward “focused engagement.” 

Relationships Are Currency

Branding is about building a community around your product. In his lean initial years, Frisella would go door to door to introduce himself to his neighbors and tell them about his store down the street. Now, even though he’s running a $175 million business, Frisella sees those personal connections as fundamental to his success. “For every relationship that you build, you’re gaining that person’s network, that person’s friends and family,” he says.

Those people will have a very good reason to try your product, because someone they like recommends it. According to Frisella, if you build a relationship, you’re going to stand out. Often, building solid relationships is all it takes to maintain a successful company that customers turn to again and again.

There Are No Shortcuts To Success

“When you plant a Chinese bamboo tree, you have to go out and take care of the soil and water the plant for 5 years before you ever see it sprout above the surface,” says Frisella. Making the connection to business, he notes: “People just don’t stick with things long enough.” This is Frisella’s favorite metaphor and one that explains his concept of “aggressive patience.” He says that he sees too many business and brands these days expecting instant gratification — whether it's a startup or 100-year old brand introducing a new product. 

“Branding is slow,” says Frisella. “Branding takes time to work.” He remembers that many times he invested money in a branding campaign and prematurely declared it a failure. Looking back, he thinks that, had he been more patient, some prematurely curtailed campaigns could have been more successful.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Blockchain has grabbed the attention of investors

Blockchain has grabbed the attention of investors

  • Blockchain's transparency, tamper-proof record and decentralized nature make the cryptocurrency vehicle more secure than any repository under the control of one entity.
  • Blockchain can be used to secure everything from financial transactions to voting and medical records.

Blockchain, the vehicle of cryptocurrency, is a technology

that no one can own or control but anyone can use. It has potential applications for just about any enterprise involved in record-keeping, documentation, registrations and transactions. Although the cryptocurrency bitcoin was created in 2009, the idea behind the blockchain technology it was built on dates back to the 1990s. Since bitcoin's launch, blockchain has gained increasing broad recognition in the tech investment world. With venture funding aplenty, numerous blockchain applications have been developed and many more are in the works.

With venture funding aplenty, numerous blockchain applications have been developed and many more are in the works. Here, a computer programmer sets up a mining rig to mine for bitcoin.Even in its early stages, blockchain is acquiring such renown for potential that any business associating itself with the term can attract new investment overnight, prompting some to use "the B word" so casually that they've also attracted attention from regulators. Core blockchain software lives on the internet, available to anyone with a modem, just as Linux operating software is available free as an open-source item. It enables the creation of decentralized, publicly accessible digital ledgers — sequential chains of blocks of data. Blockchain is like a digital safe-deposit box, yet its security comes not from secrecy or exclusive access but from being tamper-proof.

With blockchain, no one's in charge, because everyone's in charge. Everyone knows what's going on, and no one can change the record. Blocks of data are immutable, so blockchains are permanent audit trails. Proponents argue that blockchain's role as a transparent, tamper-proof record and its decentralized nature make it more secure than any repository under the control of one entity, because central sources are far easier to hack. With blockchain there's no custody or control by a central source, such as a financial institution.

Cutting out the middleman was a key founding principle of bitcoin, which cuts out banks, and it's the premise for many evolving or anticipated uses of blockchain. Consequently, some blockchain applications might prove disruptive, posing an existential threat to companies whose business model is based on being a central source. Though many individual investors find blockchain an inscrutable technical conundrum, as vexing to understand as bitcoin, potential applications in many fields are attracting a brisk flow of venture capital and corporate development. Aside from uses in cryptocurrency, embryonic and envisioned applications of blockchain include:

  • Securities. Nasdaq has partnered with Chain, a bitcoin infrastructure firm, for a pilot program to test the use of blockchain for trading shares of private companies.
  • Financial markets systems. An 80-plus member consortium of banks, regulators and technology partners — led by blockchain tech start-up R3 CEV — are developing a blockchain-platformed operating system called Corda.
  • Payment platforms. JPMorgan Chase has launched a new interbank payments platform based on a private blockchain for Ethereum, a form of cryptocurrency.
  • Bank operations. UBS and Barclays are both experimenting with blockchain as a means of expediting back-office functions.
  • Private blockchain. These are secure private networks of blockchains developed by IT providers. IBM is developing new shipment-tracking tools for shipping giant Maersk and Walmart Stores.
  • Digital rights management. Spotify acquired start-up Mediachain Labs last year to use blockchain technology for music copyright-attribution protocols. And Eastman Kodak is seeking to develop publicly accessible repositories for stock photographs and their copyrights.
  • Decentralizing the sharing economy. Arranging P2P lodging and ride-sharing — without paying middlemen, i.e., Airbnb, Uber and Lyft.
  • Medical records (private blockchain). Might blockchain finally enable long-predicted secure lifetime medical record-sharing across providers?
  • Digital public registries. Projects are under way in Rwanda and other African nations to build blockchain-based real estate-titling systems.
  • Law enforcement. Potential uses include evidence management and tools to flag suspicious transactions.
  • Voting. Proponents say an immutable record of votes cast could have the certainty of paper with the convenience of digital access and storage.
  • Securing Internet of things (IoT) devices. There are more than 8.4 billion internet-enabled devices, from refrigerators and doorbells to wearable fitness monitors and prototypical self-driving cars. Proponents argue that blockchain technology could be used to reduce the risk of many IoT devices being compromised by a single point of failure, such as a server.
  • P2P e-commerce. Peer-to-peer of all sorts, potentially threatening eBay.

Not surprisingly, much of the venture funding for blockchain thus far — from notables including Sequoia Capital, Founders Fund (Peter Thiel) and Andreessen Horowitz — has been concentrated in bitcoin-related enterprises. But some of this money is for other applications, including ecommerce, media, identification and private blockchain.

Venture investment in blockchain start-ups began in 2012 and grew apace in 2016 and 2017. According to a report by CB Insights, a tech-funding research firm, Google and Goldman Sachs are among the most active corporate investors. Other investors include Visa, PNC, Deloitte, Transamerica, Wells Fargo, Capital One and U.S. Bancorp.

Investing in blockchain requires a grasp of the types of entities now profiting in the technology's evolving uses. Individuals seeking to get this exposure for their portfolios can do so currently by investing in funds or individual stocks of companies involved in:

  • Cryptocurrency.
    Names include Japanese company SBI holdings and Overstock.com, with its newly created digital currency subsidiary, tZero.
  • Manufacturing.
    Manufacturers develop products for the cryptocurrency industry, including specialized, powerful computer-processing chips and other hardware used by "miners"— independent operators who collectively validate and thus enable transactions. Nvidia, Advanced Micro Devices and Taiwan Semiconductors are a few examples.
  • Software services and solutions.
    A number of companies offer software services and solutions to blockchain- and private blockchain-related related entities. Candidates would include publicly held IT/computer services firms making inroads, including IBM, Google, Accenture and Cisco.

As applications evolve, a broader range of blockchain-related investment opportunities among public companies are expected to emerge. Today blockchain is a tech market buzzword. Tomorrow it could be a household word.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Smart marketing still hinges on humanity, not technology

Smart marketing still hinges on humanity, not technology

As exciting as technological developments may be, contributor Mike Sands urges marketers to keep their eyes on their customers.

Remember what life was like before we had smartphones?

We flipped through inches of white pages without a thought, carried impossible-to-fold maps wherever we traveled and never left home without pocket change. Now, it seems as if we think everything would work better if it were smart. We can buy smart umbrellas that tell us where we left them and when we’ll need them next. Smart diaper-changing tables that track Junior’s weight, food intake (and output). Even smart underwear that can adjust our home’s thermostat based on our body temperature, change our Spotify playlist based on our mood and adapt our e-gameplay to our stress levels.

With businesses so quick to employ the latest technologies, it got me questioning whether leveraging all this tech is really so smart after all. In an industry prolific with promises of shiny new toys, I worry about marketers becoming blind to the fundamentals of marketing and relying too much on technology, instead of their heads, to evolve and enhance customer experiences.

Don’t risk losing the human touch

While keeping up with technological advancements is absolutely critical to keeping pace with today’s complex consumer habits, integrating new technology without a complete understanding of how it works, how it changes consumer behaviors and what value it adds to the customer experience is potentially reckless and off-putting.

Marketers who risk losing the human touch also risk losing customers. Consider that in a 2017 survey commissioned to find out how people really feel about the much-hyped area of artificial intelligence, 57 percent said they would have no problem engaging with a brand’s chatbot online, yet 65 percent said they have a big problem dealing with a robot instead of a human in a store. As cool as it may sound to implement artificial intelligence, augmented reality, virtual reality or whatever comes next, marketers need to consider them not as new toys but as new marketing tools, opening up more ways to communicate with customers — and, just as important, more ways to collect data to solve their problems, anticipate their needs and improve their lives.

Follow Amazon’s example

Take the enviable success of Amazon. The reason that it is now the most valuable brand on the planet is not that it’s an AI pioneer, employing sophisticated applications to run customized search and recommendation engines, voice-enabled shopping and, most recently, human-less checkouts at Amazon Go. It’s because Amazon adds technologies sympathetically, with the customer experience front and center. By offering the simplest and most convenient shopping experience possible — not better products, not better prices — it delivers on its brand’s promise. This is what drives customers to return, in turn leaving Amazon with loads of first-party data to craft even more innovative ways to make shopping experiences even better.

Every brand offers some unique value to its customers, and marketers need to keep this top of mind when strategizing technology solutions. A good example is home improvement retailer Lowe’s. With shoppers ranging from serious do-it-yourselfers needing guidance and inspiration to errand-runners on a quick quest for a hammer, Lowe’s has rolled out a series of AI, AR and VR solutions to help decrease friction points and improve the in-store experience on an individual basis.

On one end of the spectrum is Lowe’s Holoroom How To in-store simulation experience, a combination of AR and VR technology that teaches shoppers necessary skills to complete home projects, as well as designing and visualizing customized options. On the other is the Lowebot, a super-simple roaming robot that makes it easy for customers to find and compare products or locate the restroom.

When robots go wrong

Of course, robots aren’t for every business — something Scottish supermarket chain Margiotta reportedly learned the hard way. A week after introducing Fabio, a robot that took on a variety of tasks like welcoming shoppers, locating products and offering food samples, it became clear it was unhelpful — even creepy — and could not fill a human’s shoes, so Margiotta pulled the plug. Let’s face it, operating in a marketplace where the next big thing is old news by lunch is enough to get any marketer’s panties in a bunch. (This is where that smart underwear might alert you to take a deep breath.)

Yet keep in mind that marketing is no longer about creating consumer journeys; it’s about empowering them. Sure, technology is absolutely critical. But marketers must remember that technology has a purpose, as well as limitations, and as far as I know, it has yet to replicate the authentic empathy and emotional intelligence of humans. And that, after all, is what makes marketing smart.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

John McAfee reveals he charges $105,000 per promotional cryptocurrency tweet

John McAfee reveals he charges $105,000 per promotional cryptocurrency tweet

Software tycoon turned cryptocurrency enthusiast John McAfee

recently revealed that he charges $105,000 for each tweet he sends out promoting digital coins or initial coin offerings (ICO). Last week, McAfee tweeted that his team had written up a guide on how his promotional tweets worked, and posted it to McAfee Crypto Team, an organization McAfee and his team put together to promote ICOs.

“It’s self-aggrandizing and ego-stroking for us,” he wrote, “However, if you’re planning an ICO, trying to boost a coin, or want to shine a light on your latest project, you should overlook our swollen egos and see.” The link details how each tweet costs $105,000 but divided between his 810,000 followers, the cost per ‘investor’ is only $0.13. The site boldly declares, “John McAfee’s tweets are by far the most influential in the field of cryptocurrency.”

Extrapolating from a Twitter poll conducted by McAfee himself, McAfee Crypto Team claims, among other statistics, that 259,000 of McAfee’s Twitter followers “have more than 50% of their total assets in cryptocurrencies,” and that 224,000 of his followers represent, “at a minimum, $4.48 billion in crypto investment.” The site claims that the numbers are arrived at through “statistically valid percentages.” McAfee’s tweets can indeed sway cryptocurrency markets. In January, Motherboard tracked McAfee’s tweets about alternate cryptocurrencies to their market performance over the course of three weeks. The site found a correlation between McAfee’s tweets about cryptocurrencies and spikes in their valuation — in the case of Burst coin, a jump of 350 percent.

At the time, Motherboard speculated that McAfee was taking part in pump and dump schemes to boost the value of coins he was already invested in. That may still be the case, but the McAfee Crypto Team post suggests McAfee also has a completely separate racket: hawking endorsements for cash. A member of Burstcoin’s development team, Tom Créance, responded to a request to comment that its team “simply does not have the financial capabilities to pay Mr. McAfee to promote the coin. The core team did not pay him, and we were just as surprised as everyone else when we saw his tweet. It goes strictly against our beliefs in long term and sustainable strategies.”

We’ve reached out to McAfee Crypto Team for comment.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

What Everlane gets right about marketing to women

What Everlane gets right about marketing to women

Everlane says it underwear has been in high demand:

The company had a wait list of 30,000 even before last week’s launch. (Courtesy of Everlane)“No frills. No bows. No bulls***,” says Everlane’s newest marketing campaign for its line of cotton panties, bras and women’s bodysuits. “Underwear should be made for you. But for decades, it’s been designed with someone else in mind.”

If Victoria Secret wants you to believe it makes lingerie for perfect angels fallen from heaven, then Everlane is hawking wares for the other 99 percent. The socially-minded company known for its basics, says it has a solution: Cotton underwear that’s designed to be comfortable. The items are promoted on its website with unaltered images of women of different shapes, sizes and colors — with full bellies and stretch marks and cellulite. It’s no secret, advertising professors say, that today’s customer wants more than airbrushed images. Brands like Dove and Nike have found mainstream success — and racked up millions of dollars in sales — with marketing campaigns that challenge traditional beauty ideals.

There has been a slow but steady shift, industry insiders say, toward more realistic advertising as beauty and clothing companies embrace more natural portrayals of women. Companies like Asos and ModCloth have pledged to stop retouching photos, and lingerie brand Aerie says sales have increased by at least 20 percent each year since it stopped airbrushing its ads four years ago. Everlane, experts say, is taking that message a step further with its unapologetic advertising. “You can see stretchmarks on some of these women — stretchmarks!,” said Angeline Close Scheinbaum, an advertising professor at the University of Texas at Austin. “That alone will resonate with millions of women.”

Online retailers seize on long-ignored market: Women size 16 and up

Consumers are more likely to pay attention to an ad when they can relate to it, Scheinbaum says. For example, “if you’re not in the market for a car, your brain tends to tune out ads about sedans or SUVs,” she said. “Subconsciously, you check out a bit. But when you see someone who looks like you or has your body type, your brain might give it some more thought.”

That is increasingly true of today’s 20-, 30- and 40-somethings, advertising experts say. After all, sales at Victoria’s Secret — a company known for its sexy ads and lingerie-filled fashion shows — have been sloping downward for months. The brand’s sales tumbled 8 percent last year, following a flat performance in 2016. The stock price of its parent company, L Brands, has fallen nearly 60 percent since 2016. Everlane’s marketing campaign for its new underwear line was created in house by a woman-led team. None of the photographs were retouched. (Courtesy of Everlane)

And while Victoria’s Secret “angels” may have attracted customers in the past, today’s shoppers increasingly think of the brand as “forced” and “fake,” according to a Wells Fargo consumer survey. Traditionally, advertisers have leaned on highly polished, idealized images to appeal to people’s aspirations. “This generation is calling BS on traditional labels from all different angles,” said Beth Egan, 52, an advertising professor at Syracuse University. “Whereas my generation and the generation before mine both bought into idealized versions in advertising, these women are saying, ‘I’m going to do me and it’s going to be fabulous.'”

At Everlane, an in-house team of about 15 employees — mostly women — put together the campaign for the underwear line, which launched last Monday. They decided from the beginning that none of the photos would be retouched, not even for the company’s billboards in Los Angeles and New York, said Alexandra Spunt, head of Everlane’s creative team. “For such a long time, the underwear industry has put up this image that in order to be sexy, you can’t be comfortable,” she said. “We wanted to show that that isn’t the case by casting these beautiful, natural, confident women who felt super comfortable in their own skin.”

Everlane is opening its first stores, after years of swearing it wouldn’t

But others point out that Everlane’s message isn’t necessarily all-inclusive. Underwear sizes begin at XXS but max out at XL. “At first glance, you look at the ads and say, ‘Oh, they’re using unconventional models. It’s not all bone-thin women with enormous breasts like you might see in a Victoria’s Secret ad,'” said Meenakshi Gigi Durham, a professor at the University of Iowa whose work focuses on media, gender and sexuality. “But then you look closer, and it still all falls within a fairly limited range of bodies.”

Durham also took issue with some of the wording in the company’s ads.

“The language is about comfort and empowerment, but it also continues to emphasize dissatisfaction with things like ‘camel toe,’ which is a term that’s used to embarrass and shame women,” Durham said. “I don’t see this as very non-conformist or resistant. Women are very savvy consumers. and they can see when a corporate marketing campaign is capitalizing on feminist dissent and dissatisfaction with feminist beauty ideals.”

But Spunt of Everlane says demand has been brisk. More than 30,000 people were on a wait list for its cotton underwear ahead of last week’s launch, and she says women in particular seem to have responded to the new ad campaign. (Its men’s underwear line, by comparison, is being promoted by more traditional models who are young, thin and muscular.) “We felt like this was more of a women’s story this time,” Spunt said. “We wanted that to be our focus.”

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Investor: Banks [Goldman Sachs] Entering Crypto Will Lead to Bitcoin Price Surge

Investor: Banks [Goldman Sachs] Entering Crypto Will Lead to Bitcoin Price Surge

Bitcoin price $10,000

Jon Matonis, a co-founder of Bitcoin Foundation and executive at VISA,

stated that the entrance of major banks and financial institutions like Goldman Sachs will lead to an increase in the liquidity of bitcoin, and ultimately, the bitcoin price. “I think it’s fabulous that they’re getting into it because it brings in new liquidity. They’re going to develop futures markets, options markets, I even think you’re going to start to see interest rate markets around bitcoin. We’re used to hearing things about Libor, the index for bitcoin interest rates is Bibor,” said Matonis.

When Will Banks Enter?

The cryptocurrency market is extremely volatile, both on the upside and downside. One of the primary reasons behind the extreme volatility of the market is its lack of liquidity. The daily trading volume of bitcoin and other major cryptocurrencies has substantially declined since a major correction occurred in January, along with the bitcoin price.

A significant drop in the daily volume of bitcoin has allowed whales and institutional investors in the futures market to manipulate the market, which is one of the reasons as to why the market has demonstrated correlated price movements over the past few months.

Recently, the Chicago Board Options Exchange (Cboe) has proposed to the US Securities Exchange Commission (SEC) to allow bitcoin exchange-traded funds (ETFs) on US stock markets like Nasdaq and the New York Stock Exchange (NYSE). The entrance of large financial institutions like Goldman Sachs will lead to more institutional and retail traders entering the cryptocurrency space.

As of current, the demand from institutional investors in the US is relatively high, but actual capital coming in to the cryptocurrency market from the public finance industry is almost non-existent. In Japan however, institutional investors are investing large sums of money in cryptocurrencies through trading platforms that specifically address retail traders.

Matonis further emphasized that to the skeptics that have described bitcoin as a bubble, bitcoin is not a bubble, but a pin that would pop the global financial bubble. He stated that equity markets and bond markets are the multi-trillion dollar bubbles that would inevitably burst in the mid-term.  the people who say bitcoin’s a bubble, I would say bitcoin is the pin that’s going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles,” Matonis added.

It is uncertain though when major financial institutions will be ready to enter the market. Critically, the cryptocurrency market’s image over the past few months has been portrayed as a gambling ecosystem, especially by the mainstream media in regions like South Korea. If the market recovers in the short-term and cryptocurrencies such as bitcoin rebound to their all-time highs, banks will prepare to address the growing demand towards the market.

Bear Cycle

In a bear cycle or a slump, financial institutions will not be hurrying to enter the market, unless they want to establish themselves at the forefront of cryptocurrency development prior to their competitors. It would take at least a few months to see major banks enter the space. But, when they do, the cryptocurrency market will be equipped with significant liquidity and public investment vehicles.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Crypto Prizes On The Rise, Magical Marketing Or Another Scam?

Crypto Prizes On The Rise, Magical Marketing Or Another Scam?

 

The art world, the gaming world, and even a few app developers

 

are jumping onto the trend that is cryptocurrencies, seeing them as a perfect prize to tantilize and attract people to their work. But what is the end goal for these people and companies? There is of course a lot of free marketing that comes up when ever cryptocurrencies are tied to something – the real estate sector has felt that – but, for an abstract artist like Andy Bauch, it adds another layer of intrigue and interest to his work. Gaming companies have also found a technological link to the digital currency, setting it up as a prize for a global market. They too can benefit from the hype, but can also entice a bigger audience with a collectively attractive prize.

Why are these cropping up?

Prizes are nothing new, especially when it comes to games, or even sporting events. However, the allure of Bitcoin is starting to spread to the likes of puzzles and paintings too. What is the appeal of attaching a Bitcoin-based prize to a game that someone can beat, or a puzzle that someone can solve in a painting?

One of the biggest reasons for this has to be that generally, Bitcoin media comes with a lot of hype and free publicity. There have been many instances where pretty mundane occurrences, like selling a house, have suddenly garnered a lot of attention because of a Bitcoin price. The real estate market was a prime example of this as a £17 mln mansion in Notting Hill, UK saw unprecedented interest since it went on sale in October last year. Saurabh Saxena, founder of property firm Houzen has said of Bitcoin marketing in

the real estate sector:

“I sincerely believe that Bitcoin as a currency or exchange medium is not sustainable. It's purely a marketing gimmick.”

The same could be said about this latest trend of Bitcoin prizes for solving puzzles and games. Everyone knows what it means to be a struggling artist, with little to no recognition of fame – see Vincent van Gogh – but, by incorporating a Bitcoin puzzle, suddenly the news is all over the internet and the name achieves a level of fame.

The Legend of Satoshi Nakamoto

Artist Marguerite deCourcelle has, on three occasions, hidden Bitcoin prizes in digital paintings for the public to unearth. The Bitcoin puzzle series, “The Legend of Satoshi Nakamoto”, has been going on for a long time. It took nearly three years for the third puzzle in the series, “TORCHED H34R7S”, to be solved – recently by an anonymous winner. When DeCourcelle and her team originally placed the key to the Bitcoin wallet into the digital painting, the wallet contained 4.87 Bitcoins – which was, at the time, worth about $1,400. DeCourcelle explained Cointelegraph how she got into cryptocurrency and why she thought this would be a good idea to merge

this with cryptic puzzles:

“In 2013, I was reading books such as Diamond Age, Snowcrash, Ready Player One, Daemon and Freedom which all share an underlying theme: a metaverse with currency that is valuable in both real world and virtual world. I was just learning about Bitcoin around this time, and Bitcoin immediately stood out to me as something that crosses these barriers. I realized that I could break down "money" into a string of information and encode it visually with patterns or layered strategy to encode the information in a more dynamic way – in other words, using game play to unlock a sequence that would otherwise be hidden.”

“Blockchain is a treasure trove of unexplored potential for how information transcends a virtual existence and can be simultaneously rooted in the real world. In the early days of Bitcoin, artists were asked to "show" the Blockchain through conceptual art. This was really hard to do. People also wanted to ‘see’ a Bitcoin – it was hard to accept that money wasn't tangible. So a natural bridge to this for me was to ‘show’ people Bitcoin using art as the gateway.”

New money

Artist Andy Bauch’s new painting series “New Money” combines art and cryptocurrencies by hiding abstract codes in his Lego artwork. The paintings represent the private keys to wallets containing as much as $9,000 worth of cryptocurrencies each. Again, Bauch has been given a free bout of publicity for combining the two worlds of art and cryptocurrency, leveraging the fact that cryptocurrencies being ferocious for any news that emanates from society. However, it would appear that Bauch is not only doing this for the fame as his abstract pieces obviously have a narrative behind them, especially with the exhibition be labeled ‘New Money.’

A gaming gift

As well as artists, gaming companies are also hiding cryptocurrency in their games for those who reach the end first. Montecrypto: The Bitcoin Enigma is a game that will feature an digital world players navigate in the first person, solving 24 ‘enigmas’ in order to claim the ultimate prize of 1 full Bitcoin. The developers have remained anonymous, with their wish to remain as such until the prize is claimed, but they have mentioned in

the game’s FAQ’s that:

“We are not here to advertise Bitcoin. We think it can be fun to have a Bitcoin as a prize for our game.”

Neon District is another game that is launching soon that will have a crypto prize at the end, this time 15 Ethereum (ETH). This game comes from the same team that is behind the digital painting series; they clearly believe this is a good tool for marketing.

Is there a chance to be scammed?

DeCourcelle spoke to Cointelegraph about trust, and its importance, as she came to realise that in the cryptocurrency space, there is a lot of space for people to be trusted, and for that

to be abused.

“I think people are absolutely wary of being scammed. I've found that my puzzles or my endorsement of a puzzle has given people confidence to pursue a contest. Similarly anyone in the space who is ‘trusted’ also brings legitimacy to projects. But it doesn't take much to shake that trust, so we hold it close to our chest and do our best to not lead people astray.”

With the third puzzle being solved only last month in DeCourcelle’s series, she and her team have built up a decent reputation in regards to this tiny, but growing, facet of cryptocurrency. However, she admits that regardless of whether a company or person is offering Bitcoin prizes, or initial coin offerings (ICOs), trust and reputation is paramount.

“I think even in the ICO space, people are launching projects who have no business doing so as they've never had a proven product. Why would people throw time or money at anything that may never come to fruition? Trust and the ability to carry projects across a finish line means everything to a community who is backing a project,”

she told Cointelegraph.

“We're working on trustless systems that still rely heavily on trusting people based on social merit or reputation-based systems. Most ‘giveaways’ these days do not turn heads. In the old days, you could tweet – "1 Bitcoin for one lucky follower" and include a fancy gif. This doesn't work anymore.”

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Bitcoin is Dead — Bitcoin Cash is Satoshi Nakamoto’s Real Vision

Bitcoin is Dead — Bitcoin Cash is Satoshi Nakamoto’s Real Vision

We at Bitcoinist can no longer deny the truth —
Bitcoin is dead, and Bitcoin Cash is indeed Satoshi Nakamoto’s real vision.

Policy Update

First and foremost, Bitcoinist has updated its publication guidelines. Articles published on the website — starting with this one — will no longer refer to BTC as “Bitcoin.” To avoid confusion, the cryptocurrency BTC will hereby be referred to as “Bitcoin Core” or, in some instances, “Bitcoin Legacy.” As Bitcoin Cash (BCH) is undoubtedly Satoshi Nakamoto’s real vision, Bitcoinist will hereby refer to BCH simply as “Bitcoin.”

SegWit’s Lead is a Lie

For those who don’t know, the hard-forked Bitcoin (BCH) is a cryptocurrency which came into existence as a result of a prolonged disagreement on how to handle the Bitcoin Core scalability problem. Bitcoin has since proven superior to Bitcoin Core’s answer — Segregated Witness (SegWit) — despite what some research might want you to believe.

According to BitMEX Research, 6.1 million SegWit transactions have taken place since the launch of rival Bitcoin Cash — 20.1% more than Bitcoin’s total number of transactions. The research also claims that, when the timeframe is adjusted to accommodate for Bitcoin’s one-month head start over SegWit, the latter solution actually has a 31.5% advantage over Bitcoin.

But why should you believe BitMEX Research? After all, the results are most likely skewed, if not entirely fabricated, as a result of Coinbase’s recent adoption of SegWit. (Seriously, who even uses Coinbase or GDAX?) If there’s one thing we at Bitcoinist have learned over the past 5 years, it’s that nobody should ever trust these supposed “statistics” from likely sockpuppets.

Vitalik Buterin Knows the Truth

Only those ignorant of the cryptocurrency market would continue to believe that Bitcoin Core is superior to Bitcoin. Even Ethereum creator Vitalik Buterin has gone on record to state that Bitcoin Core has failed, and that the BCH has every right to the Bitcoin name. If Buterin’s above tweet doesn’t convince you of Bitcoin’s superiority over Bitcoin Core, maybe this picture of him holding a BCH Gang t-shirt will. Furthermore, Bitcoin (Cash) has seen an increased acceptance within the ransomware community. If that doesn’t lend legitimacy to Satoshi’s real vision, what does?

A Propaganda Campaign

Additionally, we at Bitcoinist can also no longer sit by and idly accept Bitcoin Core’s malicious propaganda campaign against Satoshi’s real vision. As you may or may not know, BCH — as the one, true Bitcoin — successfully reclaimed the Twitter handle @Bitcoin. Since then, Bitcoin Core fanboys have maliciously slandered BCH, despite Bitcoin’s propensity to remain professional, transparent, and collected. Take, for example, the following Twitter poll from @Bitcoin:

@Bitcoin clearly tried to inform the cryptocurrency community of true statements regarding Bitcoin Core but was bombarded by Blockstream trolls ignorant of Bitcoin’s superior block sizes and vibrant community. There are countless reasons why Bitcoin Core is no longer Bitcoin. But the top three are:

  • The real Satoshi, Craig Wright, is a vocal supporter of Bitcoin (Cash). Moreover, true geniuses scribble math equations on transparent glass. Check it out:
  • The Bitcoin.com domain supports Bitcoin (Cash). Sorry Bitcoin Core but the .org just isn’t sexy enough to be the real deal. (Are they trying to run a global currency or a public library?)
  • Finally, Roger ‘Bitcoin Jesus’ Ver believes in Bitcoin (Cash). So just have faith, the BCH price will be resur-rekt-ed!

Bitcoin has died over 273 times. Unfortunately for BlockstreamCore and its sockpuppets, it is now officially dead to us. Long live Bitcoin!

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Can agile work for marketing?

Can agile work for marketing?

Given that my company sells an agile platform

and has more than 5,000 engineers using agile practices, you’d think we would have adopted agile marketing as a no-brainer, right? After all, agile isn’t about code, it’s about how you approach a problem. And marketers share many of the same goals as developers: We want to be faster to market, have more business impact, and build a more engaged team. So why wouldn’t agile work for marketing?

As leader of the CA Technologies product marketing organization, I had my concerns about going agile. Many development teams are small and co-located, making it easy to stay zeroed in on a compact, well-defined deliverable. But our marketing staff is large, dispersed, and conditioned to long-duration initiatives. I wasn’t sure agile marketing could work at scale.

Turns out, it can. I say that after a few years of trial. Has it been a straight shot? Definitely not. On our journey we’ve run many experiments, not all intentional. We’ve had our share of ups and downs — our own “hype cycle” — building our expectations only to enter a period of disillusionment before eventually leveling out on a road of productivity. But it’s been worth it. We didn’t rush headlong into agile marketing. We moved slowly, answering a key question in each phase.

Question 1:
Can agile work for marketing?

In 2013, I joined a business unit to run strategy, marketing, and business development. It was all-in on agile, across all functions. I took a SAFe (Scaled Agile Framework) course and started applying a few of the principles to our strategy and product marketing, but I knew we were just playing at the fringes.

We continued to “dabble” in agile until an important catalyst in 2015: the acquisition of Rally Software, a leading provider of agile development software and services. Pre-acquisition, Rally’s 20 or so marketers had been applying agile methodologies for about two quarters. During the integration process, I observed that their marketing team seemed very engaged. It intrigued me enough to give agile more of a try.

About six months after the Rally acquisition, we started small, with a 35-person delivery group to support our Agile Management business unit, intentionally merging legacy CA marketers with no agile experience and Rally marketers. The team divided into smaller, project-based teams and began to break projects down into two weeks sprints. We began hosting quarterly “Big Room Planning” with stakeholders from across the business, initiated 2-3 standup meetings per week for individual teams, and had bi-weekly sprint planning and “demos” to inform and get input from stakeholders from sales and business.  While not large, our experiment tested a range of team and product variables typically encountered in a larger marketing organization, such as co-located vs. distributed teams, SaaS vs. on-premises products, and products that spanned from early concept to mature.

The experiment went well. The teams figured out how to work in a more distributed environment, and agile marketing was showing it could scale to a larger number of diverse products. Our teams were happier too, with our CA marketers more engaged, feeling appropriately involved in decisions affecting their work, and feeling valued as an employee — significant increases compared to the prior year and compared to CA overall.

Question 2:
Agile is good for the team, but is it good for the business?

With an overall marketing team of nearly 350 marketers, I still needed to measure the impact of agile marketing on the business before I was willing to scale it beyond our sample team of 35 individuals. An opportunity presented itself to see the agile marketing team vs. a traditional marketing team working side by side – literally – as two groups conducted planning sessions across the hall from each other. My job was to run back and forth across the hall to stay informed and steer the teams when necessary.

At the outset, the meetings appeared to be very similar and totally agile. Both rooms housed smart people and a certified agile coach to facilitate. They had the materials necessary for an agile meeting: post-it notes, pipe cleaners, and Play-Doh for restless hands. The meeting agendas were clear and time-boxed. The agile jargon was flowing freely.

After a few roundtrips across the hall, though,  the contrast was unmistakable. The agile delivery group developed a shared vision, defined business objectives, and included a cross-functional team (product and field marketing, web, digital sales, etc.) – everyone necessary to make decisions and commitments was in the room. When they adjourned the meeting, they were ready and committed to act immediately on their plan and start their first sprint.

In the other room, I watched the dependency list grow and business commitments shrink. They couldn’t commit to deliverables that would have measurable business impact, since the other dependent functions and their decision makers were not there. After the meetings, I came to understand what true agile could mean to marketing: higher velocity of decision making, improved alignment across functions, and commitments to business impact.

Question 3:
Agile is good for the business, but can it scale across marketing?

Despite witnessing the benefits, it took one more in-my-face moment to give me the confidence to scale it across our whole marketing organization. In August 2016, management tasked seven product line marketing teams – one agile, six traditional — with building a competitive campaign. After the campaign elements were in market, we gathered the teams for a retrospective and mapped a timeline of their activities along with each participant’s relevant work, engagement, visibility into progress across the team, and their feelings (expressed with smiley faces) on how it went.

The agile delivery group sailed into first place even though they started with the least amount of competitive research. They were easily twice as fast getting their campaign into market. Their strengths were common ownership, accountability, and collective prioritization of this task against their other work. They knew who was doing what when and stayed aligned via the agile ceremonies. They even pivoted twice because of real-time stakeholder input. Even with the heavy workload there were no reported frowny faces.

The six non-agile teams did not fare well. Without clarity on ownership and accountability, they took ages to get started and had difficulty juggling this priority against other departmental objectives. They reported poor visibility into what other team members were doing and were often surprised when a dependent task was completed and tossed over the wall to them. There were lots of frowny faces. I saw that agile marketing made a difference in engagement, velocity, and quality. It was time for us to further scale it up.

Where we are now

Today we have six business unit-aligned Delivery Groups, each consisting of all the marketers that actively support the business activities of that business unit. Our agile marketing reach is now over 100 people within CA, with about 60 practicing every day as part of our core agile delivery teams. The others are specialists in communications, data science, and regional marketing, who support the core teams when needed, as well as active stakeholders, such as digital sales, who meet with our teams regularly to provide critical feedback.

What we’ve learned

We are still learning – this is a journey, not a destination — but we have some lessons to share:

  • Marketing and app development teams really are different.  
    Marketing teams need more vision and context to develop solid messaging and campaigns. We addressed this by investing in quarterly “big room planning” and more time to set the vision, align the strategy, and plan initiatives. Standups and weekly metrics keep us directed.
  • The nature of some marketing work is hard to deliver in two-week sprints.
    We developed persistent teams to handle ongoing, demand campaigns and temporary or initiative-based teams to handle specific events, such as a product launch or CA World. We flexibly staff the temporary teams based on need.
  • Traditional agile terminology isn’t a great fit for agile marketing,
    so we use terms that resonate with marketers. For example: “features” become “initiatives”, “release train” becomes “delivery group,” and “release train engineer” becomes “coach.”
  • Our departmental managers had the hardest adjustment.
    They no longer could add work to an employee of “theirs” who is part of an agile team. They had to shift gears from directing to coaching; they had to learn “servant leadership.” We underestimated the coaching they needed, and sometimes we outright forgot to include them in the initial ceremonies.
  • Watch out for “Agile Theater,”
    groups with the jargon and paraphernalia, but who lack the cross-functional representation, empowerment, and goal alignment that drive true agile marketing.
  • Commitment from the top down is essential.
    This is too big a shift in the way things are done for a sneak attack. Get support, get a coach, and get ready to experiment and learn.

Agile marketing works at scale

Our teams are more engaged, our campaign delivery times have decreased, our marketing-sourced pipeline has increased, and the win rate of marketing-sourced opportunities has increased. So if you think agile is only for small, colocated marketing teams, I urge you to reconsider. But know it won’t be a quick fix and the journey may be bumpy at times.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

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