Hi all!
Because if a product is "good", then it doesn't need additional advertising. People will simply notice it on-chain, and join it.
And if a product is "bad", then you have to convince enough people, to pump it properly, and then you can dump everything, when it becomes profitable, to just sell all of that, and cash out, by selling all of your easily-obtained ALTs for BTCs.
I get the point, but I disagree that good projects don't need advertising. Pumping and dumping wouldn't have been a thing if people knew how to be cautious against scammers. I mean if someone sends you an invitation on X, claiming that if you join now, they will award you a huge amount of tokens from their newly created ALT, then it's your responsibility to filter this proposal and decline. Isn't it?
Is it because bitcoin projects can't be easily monetized?
If you have an altcoin, then it is distributed from scratch, and created out of thin air. Creators are then early adopters, who can early-mine or pre-mine a lot of coins, and then sell them.
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Yeah, even ETH, which some people still think is a "good" altcoin, has done that. If I recall properly, the great majority of its tokens where pre-assigned to some people.
Well, this place used to be full of Bitcoin projects.
I 'd love to have lived in this era of the forum. I 'm kinda new here, so...
The problem has always been trolls. Look at my Nasty project for example. I raised $400 to run a home miner for the community, turned it into an organization worth over a million dollars, distributed nearly a thousand BTC to participants, sold thousands of physical coins made from precious metals, and the entire time all I've heard from members here is how I'm running some sort of ponzi scheme or scam. Can you imagine spending more than a dozen years of your life running hot loud equipment in your house, paying all the electricity bills/air conditioning repairs, working with designers and manufacturers on products, dropping everything to engrave coins when they're ordered, responding to questions, and then have people leave you negative trust or bash your efforts as anything but altruistic on behalf of the Bitcoin community? That's the environment people running Bitcoin projects have to deal with here. The worst part, it's the people in default trust that enable and even support this behavior.
This hasn't blocked you from running your project though. Besides, your profile has too many positive trust notes.
Having said that, I don't think the community here is capable to actually prevent a good project/business from being advertised.
You will get lots of responses to your questions, but this is the only one that comes from someone with any experience actually running a real Bitcoin project here.
If you look back, don't you think that perhaps your ability to develop a project in here has been possible due to the fact that Bitcoin was more affordable to be mined back then? Without of course diminishing the effort that you 've previously mentioned.
That's a very good question. I don't understand either why Binance, Coinbase, Crypto.com, Trezor, Ledger, BitPay, Bitrefill and similar companies don't advertise. Logically, they should be here but they aren't.
That's what I also wondered about, but on a second thought...
They have their logos printed on the t-shirts of the best football teams!
They have banners all over the world, in significant buildings, squares etc.
So Loyce is right. They don't advertise here, because they don't need to.