Post by coineliusvanderbilt on Jan 17, 2014 8:13:33 GMT
I'll start it off on the general marketing ideas since no one has really taken it up yet and since I've had some opinions about this lately...
We'll start from square one - purpose. Currency's purpose is to be a medium of exchange for goods/services, and the better cryptocurrencies are the ones demonstrating a clear purpose that adds value.
The original devs never stated a clear purpose for the Coinye outside of parody/fun. While that's going to get media attention, it's not necessarily going to make it more valuable. I'm sure the new devs have their hands tied with clearing up this shit storm right now, but a big priority should be to identify a purpose for using/trading/mining Coinye, outside of a media-fueled pump-and-dump. I like what's been mentioned with "bringing crypto to the mainstream" and that could be a good angle for explaining purpose, but there needs to be a good set of examples for why and how this coin is going to do that. Original devs mentioned something about making mining easier for people new to crypto, but we never really got anything. Something with a clean GUI could do the trick, but I'm not sure how difficult that would be. Either way, when explaining Coinye's value, people should easily be able to say, "It is valuable because of [X], which Coinye has demonstrated by doing [Y]."
Now let's talk about identity. The parody/fun angle has brought in some awesome press, but when thinking long term, this isn't going to work. Features people desire in currency are things like stability or trustworthiness. Right now, when people look into Coinye, they find pictures of gay fish coins and articles regarding lawsuits. What needs to happen is for Coinye to move towards respectability as a currency.
A good start would be rebranding. Facetious or not, when people look into Coinye and judge its merits, a lot of it is going to be influenced by design. This especially applies to people interested in Coinye, as they will probably be interested in Kanye as well, who directs much impetus towards the design/fashion world. I'm not sure which of the logos is being used at the moment, but none of them are going to tickle anyone's fancy in regards to aesthetics, and they especially won't come off as something you'd see as a payment option anywhere (no disrespect to the artists behind the logos). As far as my opinion goes, Coinye design should gravitate around minimalism and authority. End all the allusions to Kanye, or at the very least, do so in very indirect/subtle ways, like using a gold-tinted image of a fish over a gold coin for example. This may have all started as a joke, but if you want this to have any value in the future, it needs to reach a point where it has some level of respect in regards to the rest of the crypto world.
So how can it get value in the future? Outside of reaching exchanges, it needs visibility in regards to the use of Coinye, not just its existence creating lawsuits. Doge has done a great job of this by tipping on Reddit, which shows Reddit users that the currency is easily usable and exchangeable. Further down the line, it'll need retailers accepting the coin to show that it can purchase tangible goods. While this might seem ridiculous right now for a coin depicting a gay fish stuck in a lawsuit, it's not too far out of the realm of possibility. I think a good example of this happening would be if the currency reached all the standard exchanges with a fresh, simple, respectable design, built up some value, and then became accepted at some various online fashion-boutique-type retailers, some place like off---white.com/ where the people behind it have a liking/hatred for Kanye, but also understand how to get value out of Coinye.
A lot of people are talking about Coinye, but most of the attitude around leans toward humor, and the actual use/exchange of the coin is pretty much nil at the moment. If we're going in a new direction, it can't be the one the original devs took. The Kanye jokes will obviously continue, but the people behind the coin should not be the ones making them. Instead, the people behind it should be pushing for and demonstrating its legitimacy, and communicate a stronger and better purpose and identity for the coin. Just my two Coinyes, lemme know what y'all think.
We'll start from square one - purpose. Currency's purpose is to be a medium of exchange for goods/services, and the better cryptocurrencies are the ones demonstrating a clear purpose that adds value.
The original devs never stated a clear purpose for the Coinye outside of parody/fun. While that's going to get media attention, it's not necessarily going to make it more valuable. I'm sure the new devs have their hands tied with clearing up this shit storm right now, but a big priority should be to identify a purpose for using/trading/mining Coinye, outside of a media-fueled pump-and-dump. I like what's been mentioned with "bringing crypto to the mainstream" and that could be a good angle for explaining purpose, but there needs to be a good set of examples for why and how this coin is going to do that. Original devs mentioned something about making mining easier for people new to crypto, but we never really got anything. Something with a clean GUI could do the trick, but I'm not sure how difficult that would be. Either way, when explaining Coinye's value, people should easily be able to say, "It is valuable because of [X], which Coinye has demonstrated by doing [Y]."
Now let's talk about identity. The parody/fun angle has brought in some awesome press, but when thinking long term, this isn't going to work. Features people desire in currency are things like stability or trustworthiness. Right now, when people look into Coinye, they find pictures of gay fish coins and articles regarding lawsuits. What needs to happen is for Coinye to move towards respectability as a currency.
A good start would be rebranding. Facetious or not, when people look into Coinye and judge its merits, a lot of it is going to be influenced by design. This especially applies to people interested in Coinye, as they will probably be interested in Kanye as well, who directs much impetus towards the design/fashion world. I'm not sure which of the logos is being used at the moment, but none of them are going to tickle anyone's fancy in regards to aesthetics, and they especially won't come off as something you'd see as a payment option anywhere (no disrespect to the artists behind the logos). As far as my opinion goes, Coinye design should gravitate around minimalism and authority. End all the allusions to Kanye, or at the very least, do so in very indirect/subtle ways, like using a gold-tinted image of a fish over a gold coin for example. This may have all started as a joke, but if you want this to have any value in the future, it needs to reach a point where it has some level of respect in regards to the rest of the crypto world.
So how can it get value in the future? Outside of reaching exchanges, it needs visibility in regards to the use of Coinye, not just its existence creating lawsuits. Doge has done a great job of this by tipping on Reddit, which shows Reddit users that the currency is easily usable and exchangeable. Further down the line, it'll need retailers accepting the coin to show that it can purchase tangible goods. While this might seem ridiculous right now for a coin depicting a gay fish stuck in a lawsuit, it's not too far out of the realm of possibility. I think a good example of this happening would be if the currency reached all the standard exchanges with a fresh, simple, respectable design, built up some value, and then became accepted at some various online fashion-boutique-type retailers, some place like off---white.com/ where the people behind it have a liking/hatred for Kanye, but also understand how to get value out of Coinye.
A lot of people are talking about Coinye, but most of the attitude around leans toward humor, and the actual use/exchange of the coin is pretty much nil at the moment. If we're going in a new direction, it can't be the one the original devs took. The Kanye jokes will obviously continue, but the people behind the coin should not be the ones making them. Instead, the people behind it should be pushing for and demonstrating its legitimacy, and communicate a stronger and better purpose and identity for the coin. Just my two Coinyes, lemme know what y'all think.
