Bitcoin Always Wins, Even If The Media Talks Shit About It

I recently stumbled upon the meme 'Is this good for Bitcoin - YES!' and I believe it's a phenomenal meme. It's so simple yet incredibly clever.

That's it, that's the meme!

This meme says it all. It doesn't matter if people talk shit about Bitcoin. What matters is that people TALK about Bitcoin. Because whether they talk positively or negatively, Bitcoin will be mentioned and every mention yields awareness. In marketing, this is called a 'brand touch point'.

It takes a long time for a new product until mass adoption happens. New customers first need to hear about, get interested, research and finally make a purchase decision. That doesn't happen over night.

The first step before anyone can start his bitcoin journey is therefore awareness. You don't start your bitcoin journey unless you see Bitcoin in the news or hear friends talk about it.

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The diagram shows that every sale is offset by attention, interest, desire, and conviction. From Frank Hutchinson Dukesmith, editor of 1904 Salesmanship

As Bitcoin enthusiasts we tend to forget that we all started at zero at some point. Do you remember when you first heard about Bitcoin? You probably read an article that was shitting on Bitcoin and you dismissed it. You see, it's just NORMAL that bad news is part of the journey. But bad news is good news and here is why:

"The purchase funnel feels like it has been around forever. It is in every marketing 101 course book and is mentioned at least once in every client meeting. So when a client exclaimed, “it feels like we’ve used this thing for 100 years,” I decided to check.

Turns out, we have! Well, marketers anyway. 111 years to be exact. Whether you call it the customer funnel, sales funnel, marketing funnel, AIDA or just funnel, each serves the same purpose. The funnel shows how a customer ultimately makes the decision to buy a product."

Source: https://medium.com/lift-pov/the-first-aida-diagram-still-relevant-today-e588c9151e80

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BAD NEWS is good news because it still helps Bitcoin. At the very beginning of the funnel is awareness. And bad news help to make people aware that Bitcoin exists.

The Streisand effect is a name for the phenomenon in which attempts to hide, censor, or prevent access to something have the opposite result—the unintended consequence of drawing far more attention to that thing. Here is a hypothetical example of the Streisand effect: Someone posts an embarrassing photo of a celebrity online. Around 100 people see it. The celebrity takes legal action to enforce its removal. Upon learning of the legal action, the media covers the story. As a result, millions of people seek out and view the photo. The upside: The celebrity will see the number of followers increase and his or her popularity rise following the news.

The Streisand effect is a great example of how trying to hide or prevent access to something can actually end up drawing more attention to it. This phenomenon can be seen in many different contexts, but one of the most interesting examples is the way that the media often tries to talk shit about Bitcoin.

At first glance, it might seem like the media's constant criticism of Bitcoin would be bad for Bitcoin. After all, negative news stories can often have a negative impact on people's perceptions of a particular topic. However, when it comes to Bitcoin, the opposite seems to be true. Every time the media talks shit about Bitcoin, it seems to only end up drawing more attention to it and increasing its popularity.

So, let the haters come. They all feed the algo.