(Needs Immediate Action) Vault of Satoshi Brainstorming

"
Spoke to my business partner, PPC is a GO. We were wondering if you had any ideas how we could launch this and get a lot of attention? Perhaps we could be the official Exchange for PPC in North America? (to at least be able to say that would be great) however not blocking anyone else from trading it.

We’d like to get it up and going this month - let me know

Mike"

** I don’t know about official exchange, but would love to come up with promo ideas for them and us. A joint press release is a good start! **

"Sounds great, I have my Q/A people on the PPC code this afternoon and the rest of the week, we could be live with this on Monday.

Thanks for the quick reply. - Mike"

** This is going down quick, I need your help! **

http://www.coindesk.com/vault-satoshi-expands-canadian-bitcoin-exchange-market/

I would be hesitant about labeling any exchange as the official exchange for ppc, especially since we have no control over what they do.

Exactly, so what do we do?

[quote=“MeBeingAwesome”]These guys seem pretty legit. The article mentions they’ve scored VC seed money, which is a very positive sign, and I like the website layout. I did my masters degree in Toronto and I can say it’s a very tech-savvy, progressive place that would be great to have an ally in.

Here’s an idea: what about nationally approved exchanges? We can grant them “Official Canadian PPC Exchange”. I’m from Canada and we love nationally-branded items like this, and doing so wouldn’t preclude us from granting national rights to American (??), Japanese (Mt. Gox), Russian (BTC-e), and Chinese (BTCChina) exchanges.

We could even create a “Trusted Partner Exchange” program for national branding, with the ability to revoke membership in the event of a scandal in an exchange.

What do you guys think?[/quote]

This is a fantastic idea. If we could put it together with community consensus, we could launch a small press release as well next week. In addition, I’d like to have a Peercoin giveaway to celebrate.

  • I’m willing to donate some coin
  • It could be centered around something to do with the exchange
  • The amount doesn’t need to be big, just something we can do to show how serious we are about pushing the coin

Additional thoughts?

[quote=“JustaBitofTime, post:4, topic:515”]This is a fantastic idea. If we could put it together with community consensus, we could launch a small press release as well next week. In addition, I’d like to have a Peercoin giveaway to celebrate.

  • I’m willing to donate some coin
  • It could be centered around something to do with the exchange
  • The amount doesn’t need to be big, just something we can do to show how serious we are about pushing the coin

Additional thoughts?[/quote]

Establishing a Trusted Partner Exchange program would likely require a bit of work. There would need to be objective criteria put in place for exchange participation, along with governance mechanisms in place to oversee making the decision to revoke the TPE designation from an exchange.

I could see a modified PPC logo also being very useful that selected exchanges could display on their site. Very abstract, but in Canada we have a “Top 100 Employers” competition each year, and winning companies often put this circular seal on their website. Having a “Trusted Partner Exchange” logo with PPC in the middle would be cool.

I would actually argue against donating our own PPC to this. Satoshis Vault is clearly craving publicity, AND they have their own server farms operating with BFL equipment. Ask if they could do a 100-500 PPC giveaway. Costs them $30-$200 (nothing), and they get the privilege of having an “official exchange” logo (which immediately gives them credibility).

I would also suggest to SV that they tie the giveaway to a marketing initiative to generate a database of consumer info. ie. in order to receive the 1PPC free, the customer needs to sign up for a mailing list or provide some personal info.

[quote=“MeBeingAwesome, post:5, topic:515”][quote=“JustaBitofTime, post:4, topic:515”]This is a fantastic idea. If we could put it together with community consensus, we could launch a small press release as well next week. In addition, I’d like to have a Peercoin giveaway to celebrate.

  • I’m willing to donate some coin
  • It could be centered around something to do with the exchange
  • The amount doesn’t need to be big, just something we can do to show how serious we are about pushing the coin

Additional thoughts?[/quote]

Establishing a Trusted Partner Exchange program would likely require a bit of work. There would need to be objective criteria put in place for exchange participation, along with governance mechanisms in place to oversee making the decision to revoke the TPE designation from an exchange.

I could see a modified PPC logo also being very useful that selected exchanges could display on their site. Very abstract, but in Canada we have a “Top 100 Employers” competition each year, and winning companies often put this circular seal on their website. Having a “Trusted Partner Exchange” logo with PPC in the middle would be cool.

I would actually argue against donating our own PPC to this. Satoshis Vault is clearly craving publicity, AND they have their own server farms operating with BFL equipment. Ask if they could do a 100-500 PPC giveaway. Costs them $30-$200 (nothing), and they get the privilege of having an “official exchange” logo (which immediately gives them credibility).

I would also suggest to SV that they tie the giveaway to a marketing initiative to generate a database of consumer info. ie. in order to receive the 1PPC free, the customer needs to sign up for a mailing list or provide some personal info.[/quote]

I like this… I like it a lot. So if they do plan on adding it Monday, what is the short term plan? Obviously we’ll want to put out some type of mini release to announce we’re on their exchange, we’re excited about the opportunity to be on a Canadian exchange, traded against the other 2 major currencies (that’s a big deal for branding) and maybe mention a TPE program in the works (if we get community consensus)? This is your babiee, you tell me how I can assist.

Let’s say an exchange opens in America and we partner with them. They become the official ppc exchange for America. Now let’s say half a year later another much larger exchange opens in America, which clearly has more quality work put into it. If we’re already tied to an inferior exchange and want to partner with the better one, what would we do in that situation?

[quote=“JustaBitofTime, post:6, topic:515”][quote=“MeBeingAwesome, post:5, topic:515”][quote=“JustaBitofTime, post:4, topic:515”]This is a fantastic idea. If we could put it together with community consensus, we could launch a small press release as well next week. In addition, I’d like to have a Peercoin giveaway to celebrate.

  • I’m willing to donate some coin
  • It could be centered around something to do with the exchange
  • The amount doesn’t need to be big, just something we can do to show how serious we are about pushing the coin

Additional thoughts?[/quote]

Establishing a Trusted Partner Exchange program would likely require a bit of work. There would need to be objective criteria put in place for exchange participation, along with governance mechanisms in place to oversee making the decision to revoke the TPE designation from an exchange.

I could see a modified PPC logo also being very useful that selected exchanges could display on their site. Very abstract, but in Canada we have a “Top 100 Employers” competition each year, and winning companies often put this circular seal on their website. Having a “Trusted Partner Exchange” logo with PPC in the middle would be cool.

I would actually argue against donating our own PPC to this. Satoshis Vault is clearly craving publicity, AND they have their own server farms operating with BFL equipment. Ask if they could do a 100-500 PPC giveaway. Costs them $30-$200 (nothing), and they get the privilege of having an “official exchange” logo (which immediately gives them credibility).

I would also suggest to SV that they tie the giveaway to a marketing initiative to generate a database of consumer info. ie. in order to receive the 1PPC free, the customer needs to sign up for a mailing list or provide some personal info.[/quote]

I like this… I like it a lot. So if they do plan on adding it Monday, what is the short term plan? Obviously we’ll want to put out some type of mini release to announce we’re on their exchange, we’re excited about the opportunity to be on a Canadian exchange, traded against the other 2 major currencies (that’s a big deal for branding) and maybe mention a TPE program in the works (if we get community consensus)? This is your babiee, you tell me how I can assist.[/quote]

Hmm…okay, here’s a short-term plan (edited for irritant/Jimmy/d5000 suggestions):

  1. SatoshisVault goes live Monday.

1a. JBT grants them “Official Canadian PPC Exchange” rights,“Trusted Partner Exchange” status and in exchange they do a small PPC giveaway. JBT mentions to them that they can very quickly develop an internal marketing list by tying the giveaway to contact information. Also SV can reference that they are the first TPE of Peercoin in internal marketing messaging.

  1. JBT - Communicate to them that we are working on a “Trusted Partner Exchange” logo that they will be able to display on their website to show credibility. Plan to have it created in the next week or two.

2a. Sentinelrv and cshelswell coordinate to create a “Top 100 Employers” themed logo for “Trusted Partner Exchange” program. Ideally it should look official, solid, and trustworthy. I can provide branding advice to them if they would like it.

2b. I begin working on internal governance mechanisms for deciding who gets to be a TPE, who gets to revoke the rights, and what criteria we should use in giving/removing that privilege from exchanges.

Does this work short term?

Exactly why we would need very clear governance mechanisms in place Sentinel. We can add criteria such as “must be the top PPC exchange by volume over a 3-month average period”, or something along those lines, to ensure we always have the highest volume, most credible exchange as our national partner.

no , please don’t
since everybody can start an exchange, the term “official” is meaningless, it would only give them free marketing, also it brings back some centralization when there are some (or worse, is it just one person?) people who can decide for whatever reason to give one exchange the title “official” and take it away from another. Even if you make clear rules like ‘must be biggest exchange over a 3-month period’, I don’t see what the advantages are,
Is it only allowed to trade this currency at the official exchange?
Please don’t do this

Any thoughts from Sunny King on this?
(does he have access to the private board?)

[quote=“irritant, post:10, topic:515”]no , please don’t
since everybody can start an exchange, the term “official” is meaningless, it would only give them free marketing, also it brings back some centralization when there are some (or worse, is it just one person?) people who can decide for whatever reason to give one exchange the title “official” and take it away from another. Even if you make clear rules like ‘must be biggest exchange over a 3-month period’, I don’t see what the advantages are,
Is it only allowed to trade this currency at the official exchange?
Please don’t do this

Any thoughts from Sunny King on this?
(does he have access to the private board?)[/quote]

Always good to be cautious, agreed. However, “free marketing” is exactly what we want to give to any distribution channel willing to promote Peercoin. We have no revenue, nor any expenses…we’re in the business of increasing awareness and adoption, and every exchange is a potential friend.

I’m not sure I follow the centralization argument, aside from saying that in the governance laid out (which will be explicitly laid out for community review) we will need to make sure that it’s not one person controlling the decision, especially given the conflicts of interest that could arise through exchange owners bribing our activist team. The criteria (such as highest volume) would need to be completely objective and not open to interpretation.

For your last point, there are no restrictions on trading obviously. Giving selected exchanges a TPE seal would cost us nothing, and potentially give exchange owners incentives to promote Peercoin in their own internal marketing channels. We still want as many exchanges as possible (as de-centralized as possible in other words) offering Peercoin trades.

Personally I don’t suggest to use “official” word. As the name of the coin, peer-to-peer, peercoin, ppcoin, nobody is official in this field. We do promoting for peercoin voluntarily, but we don’t have the official rights of peercoin. As a voluntary party for promoting peercoin, I think, it’s better to select/organize/cooperate with the exchanges through “Trusted Partner Exchanges” on behalf of us.

I also second this. PPC’s main advantage is that it solves the energy efficiency problem for descentralized currencies. “trusted exchange by PPC community” is a good idea.

Good points Jimmy. What about letting Satoshi’s Vault know that they can put “Trusted Partner Exchange” on their website, endorsed by us, and that they can reference the fact they are the first TPE in their internal marketing messaging? That way they still get a little bit of PR/hype value, and we don’t commit to anything being “official”.

still I don’t understand the need for this, if they want marketing there are other/better ways to get marketing. Not every country will have an exchange, I don’t care from what country the exchange is I buy from.

Good points Jimmy. What about letting Satoshi’s Vault know that they can put “Trusted Partner Exchange” on their website, endorsed by us, and that they can reference the fact they are the first TPE in their internal marketing messaging? That way they still get a little bit of PR/hype value, and we don’t commit to anything being “official”.[/quote]

Although I like the promotional aspects of working together with exchanges, I second this distance from granting those exchanges “official” character.

Neither do we have the authority to claim something being “official” nor should we have interest in doing so!
…it would tie our reputation (as part of the PPC community) to the one of that exchange if we did so (what we luckily, like is previously stated, can’t :wink: ). And that one I really don’t like. I don’t like being responsible for actions of others if I can’t codetermine them.

“Trusted Partner Exchange” is a label I do like, though. And I think this limits the label to where our power ends.
Getting that label should allow that exchange to be linked at the exchange overview at e.g. http://peercoin.net/
If ever necessary, the “Trust relation” as well as links can easily be removed.
How do you make someone remove the “official” attribute form the exchange?
…better they only have it, becuase they consider themself “official” :wink:

…just my humble opinion…

Looks like we all saw the same thing right away… official, no way. Trusted on the other hand I believe is a great approach.

Still love this idea, there just seems to be a few priority items right now cough Bitcoin Conference prep cough

The exchanges are going to carry us regardless of whether we have a branding logo or not, and many exchanges might simply refuse to publish it for fear of receiving 10 other copycat logos that would clutter their front page. This is a long-term item to keep in the back of our minds if we discover an opportunity to use it.

official isn’t the right term we all agreed on that, but trusted? I was thinking about that, in our world you don’t have to trust anybody, you can download the sourcecode and see for yourself, cryptocurrencies are trust-free money