RE: How I turned 1100 Hive into 27877 Hive! - #HiveismyWorld
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@jerrybanfield's campaign in 2017 and early 2018 was super effective and pushed the Steem price to $6! Hive can get there again.
Jerry’s campaign in no way helped bring the price to $6+.
A new exchange listed Steem & SBD, outsiders with little understanding of Steem bought SBD instead of Steem and raised the price a bit, more started to fomo over this and likely had no idea SBD was suppose to be pegged at $1, then it started to snowball as payouts were going through the roof.
At the time there was 15x less SBD printed. It was a perfect storm of ignorance and fomo. Conditions that would never happen again most likely.
Jerry had no part in any of that.
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Jerry didnt help much of anything from what I could see.
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The evidence is very clear that @jerrybanfield's campaign on Facebook from June 2017 to end Jan 2018 pushed signups, engagement on every metric and steemit.com's Alexa ranking to record levels. Never seen before or since.
We have documented this at every step from the ads to the millions of views to the click throughs to the big increase in signups and engagement.
The evidence is very strong. Price may have been also affected by other factors but the Banfield Campaign drove engagement. No question.
Also Facebook advertising was much more effective than Google advertising.
I know Jerry's style is not everyone's cup of tea but it worked - no question.
I don’t doubt it increased sign ups, no one else was marketing at all. It was however not in anyway related to the massive spike.
That's a pretty dogmatic conclusion on your part based solely on one speculative theory and no other argument, and almost as if one necessarily excluded the other.
Nicely put.
At the time Jerry wasn’t even advertising during the spike and it was very easily traced to Upbit listing of Steem/SBD
An exchange listing is nothing without lots of new users interested in the platform and wanting to buy on exchanges.
A new exchange listing may have played a part but millions of new people finding out about Steem from Facebook ads clearly drove demand in all sorts of ways.
Its quite simple - advertising drives demand and Facebook advertising is the best advertising another social media network like Steem or Hive can get.
Facebook & Google are trillion dollar businesses precisely because advertising on their platforms works really well.
As has been proven time and time again - the superior technical solution will not win if its marketing campaign is much weaker than inferior technical solutions.
The Hive community needs to be ready to start advertising on Facebook as soon as I can get Facebook to agree to it or the Court to order it.
I am not a marketer but I've done enough legal work with marketers to know what a difference a good marketing campaign can make.
It is when people who don't know SBD is a pegged asset and start fomoing over it. It happened the within minutes of the Upbit listing.
I am 100% in agreement we need advertising and marketing, we have none and have almost always have had none. But I am completely confident in saying Jerry had now influence on the pump.
Marky the most ignorant people about exchanges,SBD, Steem and market prices are precisely those who have signed up recently, one theory don't deny the other.
The spike could be triggered for the Upbit listing, and yet people who was newbie back then could have confused all that episode of upbit and thought that Steem would be skyrocketing.
The main point and the important one is: we really need advertising
Advertising is only a small part of it. As part of my work with Andrew on the class action I've really done a deep dive into how both Google and Facebook have grown (and Twitter to a much lesser extent).
There are aspects of growth in both of these companies that we can never replicate in a decentralised system (and should never want to).
Advertising is certainly something that would help a project like Hive if done properly, but I'm much more of the opinion that Hive is not an end user marketable proposition, it's about having devs build end user DAPPS here which will drive uptake.
Hive can't compete directly with Facebook because we're not prepared to do what they did to grow and the vast majority of us are on Hive because we wouldn't be ON a system that was as vile and coercive as Facebook and Google.