18 Ways to Sell Bitcoin to Your Friends

Original article by Johannes Turunen

Compiled by Odaily Planet Daily Golem ( @web3_golem )

Editors note: Bitcoin has been rising for days and hitting new highs recently. In addition to the excitement of people in the cryptocurrency circle, some users outside the circle are also eager to try after hearing about the bull market (have you been asked how to buy bitcoin recently). However, the continuous highs of Bitcoin make people afraid of heights. The FOMO mentality not only makes them easily fall into the scam of altcoins/Meme coins, but also makes them easily persuaded to quit after losing money.

So, as die-hard Bitcoin fans, we should collectively brainstorm some marketing ideas to inspire outsiders (including social elites and ordinary people) to buy Bitcoin. Johannes Turunen provides us with the following ideas, which include 18 Bitcoin marketing methods. If these ideas are spread by skilled (marketing) craftsmen, each idea may attract 1 million new Bitcoin users. Its time to become a Bitcoin evangelist.

1. Move the decimal point

Image source: https://www.coinbridgepartners.io/

This is a simple method that can achieve great marketing results, which is often used by some shitcoin deployers, but it can be even more powerful when used in more valuable places.

Many people on social media are always focusing on how many zeros there are after 1 BTC, which makes the price seem too high to dare to buy. However, there is a better way to put zeros: just always price Bitcoin in SATS.

• 1 SAT = $0.000687

This pricing method makes it easier to choose between Bitcoin and lower-value items , and it taps into human psychology, giving people a sense of satisfaction based on how many SATS they have earned, while also making it easier to buy and hoard Bitcoin than to buy some non-practical luxury goods.

2. Who walks with Bitcoin (Logo wall)

“Social proof makes the pudding more enticing in every category” – Social proof makes things in a field more attractive.

As of September 20, 2024, MicroStrategy holds 252,220 Bitcoins and has seen its stock price increase 50-fold since adopting this strategy.

3. In art, anything can happen

Argentina’s Central Bank unveiled an art installation made of Bitcoin mining machines. When combined with art, propaganda is powerful and anything can happen.

4. Let the mainstream media once again shout “Bitcoin is dead”

Image source: Bloomberg.com

Even a broken clock is right twice a day. Now, the above news item may be correct, but if the headline is replaced with dollars...

History has proven every statement from the mainstream media wrong so far, and those who have studied Bitcoin laugh and go to the bank to withdraw their money every time they hear a similar statement...

5. You will make money whenever you buy

In todays market, only one of two things will happen, or both:

1. Bitcoin falls from all-time high: This may be the last chance to get on board and enjoy a 5% discount on Bitcoin purchases;

2. Rumor has it that the dollar has no bottom, so Bitcoin has no top: it is better to hold Bitcoin than to hold US dollars.

This also leads to the next marketing idea...

6. Bitcoin has been setting new historical highs (ATH)

For example, last weekend Bitcoin broke through $80,000 for the first time, and now the price has broken through $91,000, setting a new record. Is $100,000 far away?

Is the biggest factor affecting the rise in stock prices the price of that stock? Although Bitcoin is different from stocks, the logic is similar under the price system measured in US dollars. Assets that rise will continue to rise.

7. Assets with no value are backed by a network of millions of computers

Many people’s first impression of Bitcoin may be that there is no central authority guaranteeing its value. But despite this, there are still millions of computers validating transactions and securing the network.

By its very nature, Bitcoin is so secure and scarce that any attempt to compromise it could be costly for an attacker.

8. See Bitcoin Gains

Every change in a person’s behavior begins with an external or internal influence. Sometimes, seeing the results that others have achieved can be all the motivation needed to inspire a change in behavior. Here is an example of a purchase made with Bitcoin proceeds (there is a Porsche purchased with Bitcoin proceeds on the streets of Helsinki, Finland):

Image credit: @iHenkka on Twitter/X.com

9. Build a library

The path to understanding the hardest currency ever created by humanity depends on language. To make it widely available, we need:

1. Reasonable information in written form;

2. A system for delivering information to people who can interpret it;

3. Better story.

Regarding point 3, Konsensus Network does an excellent job, and according to their homepage, they focus on localizing and distributing important literature on Bitcoin, Austrian Economics, and Sovereignty. They have published over 50 books, with more to come.

10. Prohibition on purchasing Bitcoin

In 2018, Nordea Bank banned its employees from buying cryptocurrencies , and a Danish court even ruled that they had the right to prevent employees from investing in Bitcoin and other cryptocurrencies.

Any parent knows what happens when you tell your kids they can’t do something. It’s human nature that the more you forbid something, the more you want to try it.

The more Bitcoin is suppressed or warned about, the more attractive it may become over time.

11. Want to be one of 21 million?

Many people mistakenly believe that if you want to start investing in Bitcoin, you need to buy at least one BTC at a time. But in fact, you can accumulate sats first, as shown below:

• 10 ⁰: Single Sat Stacker - at least 1 sat

• 10 ¹ (10): Decasats Stacker - at least 10 sats

• 10² (100): Hectosats Stacker - at least 100 sat

• 10³ (1,000): Kilosats Stacker - at least 1,000 sats

• 10⁴ (10,000): Denakilosats Stacker - at least 10,000 sats

• 10 ⁵ (100,000): Hectokilosats Stacker - at least 100,000 sats

• 10 ⁶ (1,000,000): Megasats Stacker - at least 1,000,000 sats (0.01 BTC)

• 10 ⁷ (10,000,000): Decamegasats Stacker - at least 10,000,000 sats (0.1 BTC)

• 10 ⁸ (100,000,000): Wholecoiner - at least 100,000,000 sats (1 BTC)

According to Worldpopulationreview.com, there are 56 million millionaires in the world in USD terms. But for Bitcoin, there will only be 21 million whole coin holders at most. If you want to join them but don’t have any Bitcoin yet, start accumulating sats now.

12. Comparison between Bitcoin and existing mainstream currencies

Let’s get serious and compare Bitcoin to current mainstream currencies:

Compared to Gold as a Store of Value

• The fixed supply limit is 21 million, and the annual supply growth rate of gold is about 2%;

• More portable and divisible than gold;

• Easier to verify authenticity and ownership;

• Bitcoin is more volatile than gold in current market conditions (which could be a good thing if you want to stockpile more Bitcoin while it’s cheap);

• Compared to gold’s thousands of years of usage, Bitcoin has a much shorter history.

As a payment network compared to traditional banking

• 24/7 operation, supporting any amount, while banking hours are limited;

• International transfers are settled in minutes/hours, while international transfers can take days;

• Lower fees for large international transfers;

• Without L2, small transaction fees are high;

• Poor underlying scalability (7 tps vs Visa’s 65,000+ tps);

• No refunds or transaction reversals are possible.

As an investment asset compared to stocks/bonds

• Historical volatility is higher;

• Higher returns on investment are possible;

• No dividends/interest payments required;

• There is no underlying cash flow to value;

• less regulatory oversight;

• Low correlation with traditional markets.

Monetary properties compared to fiat currencies

• have a fixed supply;

• More decentralized;

• With programmable capabilities;

• Higher volatility;

• Limited merchant acceptance;

• There is no government support.

13. Are you lagging behind the funds?

Investors always want a return on their capital, and they want to do so in a way that maximizes that return and operates within a given level of risk. In this regard, Bitcoin is a product that is constantly being discovered by new market participants, such as hedge funds.

Of the top 25 hedge funds in the world, 13 own Bitcoin, and these institutions have considerable risk tolerance, while those lagging behind entered the market much later.

14. Government: All your money belongs to us

Technically, the funds in a general bank account belong to the bank where you deposited them, but is it possible that your deposits can be taken away from your bank account? The answer is yes .

This has already happened in Europe not long ago, with the Cyprus financial crisis documented on Wikipedia. In short, in Cyprus, 47.5% of bank deposits over 100,000 euros were seized, and almost half of the fiat millionaires who had all their savings in euros lost at least -90% in an instant. This is not a good thing for humble savers.

15. Bitcoin Bubble Song - The Power of Music

There are many reasons why this music video is so successful. The avant-garde tone, the singer dressed as an alien and the incomprehensible language fit perfectly in the context of the huge bubbles that Bitcoin has formed from time to time, thanks to the performance of Latvian-Ukrainian singer Vitas. The music was able to be widely spread around the world.

16. Don’t stop meme creation

A thinker (probably Musk) once said that if you control the Meme, you control the world. Generally speaking, humans are always interested in things that contain familiar and novel elements. But to meet these two criteria in the best way, you need to find a delicate balance. As a Meme maker, it is like improving your visual and textual taste every day in order to be able to cook exquisite cuisine.

The fanatical diamond hand team will drill their Bitcoins to the end of the world. As long as they have a breath, new memes will continue to be created. The following are Bitcoin Meme pictures selected from the Internet:

Germany sells 50,000 Bitcoins prematurely, missing out on $1.1 billion in profits so far

Markets happy about 2024 US election results

17. Using your credit card to buy Bitcoin (definitely not an investment advice!)

People love rags to riches stories, and using a credit card and taking on debt to buy Bitcoin fits that story, even though it’s not financially advisable in any way.

However, it has a strong marketing effect, as many people will be curious about how it will work. Sunny Po is experimenting with this method, using up all his 8 credit cards to buy Bitcoins, and his Twitter profile reads: Get money from the bank to buy Bitcoins, and wait...

Here are the statistics based on his Twitter:

• The total amount of Bitcoin purchased is 1.4488 BTC;

• The average price of this Bitcoin is $37,443 (as of this writing, his average price has more than doubled);

• The total credit card debt he accumulated was $54, 251;

• His minimum monthly payment is $542;

• All of his debt will have a 0% APR until May 2025, including balance transfer fees;

• All of his debt will be transferred to a new credit card in May 2025, onto a new 18-21 month 0% interest balance card, and repayments will be deferred until between November 2026 and February 2027.

18. The best way is to learn

Studying Bitcoin can give you insights that are hard to gain from other subjects.

Did you know that the average lifespan of a fiat currency is 27-35 years (depending on where you look for this information)? Did you know that, historically, countries with “hard” currencies have gained resources and assets from countries with “weaker” currencies?

Bitcoin is a subject worth learning for the curious. Once you start, you will fall into an endless rabbit hole. Here is what Gigi , a Bitcoin enthusiast, software engineer, and author of 21 Lessons, has to say:

“Falling down the Bitcoin rabbit hole has been a strange experience. Like many others, I feel like I’ve learned more from studying Bitcoin over the past few years than I did in twenty years of formal education.”