RIBS for Bitcoin

by barce on March 11, 2014

I just found a piece on Hacker News called PR Advice from Facebook’s Head of Tech Communications

To develop a compelling message, Marooney advises running it through the RIBS test (will your story “stick to your ribs”?)

The RIBS test consists of crafting a message that is

  • Relevant
  • Inevitable
  • Believable
  • Simple

If I were to run an ad campaign for Bitcoin, I’d run it on the tagline of “Your Money, Your Responsibility, Your Destiny.”

I’d satisfy the relevance part by highlighting for merchants by highlighting the near zero dollar fees on bitcoin charges. I’d also highlight the fact that Bitcoin places the responsibility for your money in your hands. For example, during a tax lien, the sheriff goes to the bank, shows them the judgment, and takes your money. To seize your funds stored in bitcoin, the sheriff will have to seize the actual device with the private key, and make you type in your password to send the government the funds. Given that the tax system has done so many unfair things like tax the rich less and actually target people politically, this inconvenience for tax collectors is okay by me. It gives the average citizen more leverage against the IRS. As someone who was levied

The inevitable part of Bitcoin is that looking at FiatLeak you can see in real-time more and more fiat converted to bitcoin. A good example of adoption is Overstock hitting $1 million in sales through customers paying with bitcoin.

In order to make Bitcoin believable or credible, it’s important that exchanges become transparent. The debacle with the Mt. Gox exchange losing over 750,000 bitcoin or about $450,000,000 at the time of their shutdown would’ve been prevented with exchange data public. Credibility is Bitcoin’s biggest challenge.

The simple part can be fulfilled by showing how easy it is to make a purchase with an Android enabled app.

There’s lots of marketing and evangelizing work to be done for Bitcoin.

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Litecoin Mining: Building a Rig

by barce on December 16, 2013

Last week I built a Litecoin mining rig which cost $1673.96 to build. To break even, assuming I can produce 10 Litecoins, I need Litecoin to trade at around $167.40 USD. It is currently trading as of 12/16/2013 at around $25 USD.

The 2 important things to know about Litecoin mining or mining any cryptocurrency are:

  1. most mining profitability calculators are wildly off after a few days. They assume linear growth of Litecoins whereas growth is really logarithmic, and eventually mining becomes unprofitable. The most accurate one I could find is at Bitcoinwisdom and that assumes you guess the growth of difficulty accurately, and
  2. electricity costs determine your profitability.

If you have any questions or have anything you’d like me to write about, please comment below.

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A Social Media Guide to Growing Engagement on Instagram the Hard Way

November 19, 2013

We have clear, big data analytics from Curalate about what an engaging Instagram photo is. We can now create duck-face selfies, with lots of background and blue tones, at will, and get more likes. I just hit 1000 followers a few weeks ago and average about 200 likes per photo. That’s an engagement of 20% […]

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New Music

January 14, 2013

How do you keep up with new music? Spotify? Rdio? I’d love to know!

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3 Alternatives to Showing Photos on Twitter after the Instagram Yank

December 10, 2012

If you post a photo with text from Instagram to Twitter, your photo will no longer show up on Twitter. Lots of blogs have already covered this story. Some have even gone so far as to defend this decision. If you’re looking for photo services that haven’t yanked Twitter cards. Here are 3 that are […]

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How To Back Up WordPress with mysqldump

November 27, 2012

Here’s a quick how to: 1. Tar up the directory: tar cvf WordPress.tar wordpress/. bzip2 WordPress.tar 2. Dump the database. mysqldump –user user_name –password –host example.com –extended-insert=FALSE database_name > database_name.sql I personally use extended-insert set to false because I often have to read the SQL. Here is how to restore from backup: tar zxvf WordPress.tar.bz […]

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The 10 Commandments for Remote Team Management

November 7, 2012

“The condition of man… is a condition of war of everyone against everyone.” – Thomas Hobbes This is a list that I compiled during my time as a reluctant work at home coder and manager. I was working at an Ad Agency at the time and really wanted to be at the office. That was […]

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End of the Bubble or Just a Correction?

September 29, 2012

I parsed the data at CrunchBase.com for startups in San Francisco. Crunchbase has a pretty easy to use API. I wanted to see how much startup funding was coming into San Francisco. Was it close to the $20 million per day during the peak in 1999? It turns out that the peak of this current […]

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Instagram Introduces Lower Rate Limits

September 12, 2012

I just triggered a rate limit in Instagram by liking photos. It seems that once you trigger it, you are limited to 8 likes per minute. It seems that the rate limit is at 30 per minute to trigger it the first time. Has anybody else run into this?

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What Would Really Get Me To Join Your Startup

August 7, 2012

Full Disclosure: I’m happy where I’m at because I’m getting all my needs met right now. I’m a pretty darned good coder. I’m not the best but I’m not the worst either. I’ve taken a few apps from the small stage to the big stage when it was hard to do so. Now 10 million […]

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