growth
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bisq-network
Reach out to experienced LocalBitcoins traders
Learning Goal
Are we able to convince localbitcoins pro traders to also trade on Bisq?
Hypothesis
By personally contacting localbitcoins pro traders, we are able to convince at least 5 of them to place offers and try Bisq out for a few weeks.
Metric
As this is not easy to measure exactly, it will be more an monitoring of the platform volume and the direct communication with the pro traders on their experience.
A success of the experiment would be, if we are able to reach following volume (suggested by @flix1) for a specific currency pair:
- 20 offers (10 buy/10 sell)
- low spread (< 3%)
- depth (> 5 BTC)
Experiment
Starting with BTCEUR, we will contact localbitcoins pro traders (https://localbitcoins.com/buy-bitcoins-online/eur/sepa-eu-bank-transfer/) personally (WhatsApp, Phone) to try out Bisq.
Points to discuss:
- Fees & Deposit: We need a good way to communicate our current fee and deposit structure and how it compares to LocalBitcoins fees (https://localbitcoins.com/fees, https://localbitcoins.com/blog/new-bitcoin-network-fee-model/). Regarding transaction/deposit fees we might be competitive, when we also take into account that the pro traders also use the LocalBitcoins advertising options a lot.
- Spread: The spread fluctuates a lot on Bisq at the moment based on the number of trades and the market situation.
- Volume: This is what we want the pro traders for
- Ease of Trading: We don’t need KYC and if you have made the account/wallet setup and clicked through all popups once, taking and creating offers is quite quick.
- Privacy: It can’t get more private than with Bisq
- Further Incentives: As it is their business model to trade and generate profits, doing it on Bisq doesn’t cost them anything extra and they could potential earn BSQ tokens on top of their regular profits. (lots of discussion on this topic already happened on the #growthhacking channel on Slack)
Result
- What happened? - What data did we collect? - Anything unexpected?
Next Step
- Pivot or persevere? - Another experiment for this goal? - Do we need to clean up?
I'll have a first draft of a pitch to LBC traders in a few days, share it on slack and incorporate feedback for next week's call.
@flix1 agreed on today's growth call (#16) to pick this issue up. By next week's call (Thu the 20th), the plan is to have a draft of a "pitch" document for LocalBitcoins traders. A "call sheet" of sorts that we can work from when talking to them, detailing:
- the advantages of Bisq, especially from the perspective of an LBC trader.
- a simple set of instructions how to get started providing liquidity
- how to contact the team for support and feedback (Slack, forum, growth calls, etc)
Please add any other items you think should be here; whatever you think might help @flix1 put this together.
Pitch 1 - Speed Bisq is the only Bitcoin exchange where you can be trading in 10 minutes. No account needed. No waiting for verification. No ID required. Private. Safe. Decentralized. https://bisq.network/
Pitch 2 - Privacy Bisq is the only Bitcoin exchange where your privacy is respected. No account needed. No ID required. No KYC. Private. Safe. Decentralized. https://bisq.network/
Pitch 3 - Safety Bisq is the only Bitcoin exchange where you control your funds all the time. No withdrawal delays. No blocked accounts. No exit scams. No Mt.Gox Private. Safe. Decentralized. https://bisq.network/
Pitch 4 - Censorship resistance Bisq is the only Bitcoin exchange that is censorship-resistant. It is a P2P network. It's open source. It's global. Private. Safe. Decentralized. https://bisq.network/
Pitch 5 - Fraud prevention Bisq is the only P2P Bitcoin exchange that protects buyers and sellers through it's smart contract system of security deposits. Private. Safe. Decentralized. https://bisq.network/
Pitch 6 - Business Opportunity for Localbitcoin traders. Become a market maker on Bisq! There is demand for traders and liquidity providers for many currencies. Be the first to trade your currency and profit! If you have traded Bitcoin on Localbitcoins before, you have everything you need to get started on Bisq. https://bisq.network/
To have it in one place, I've copied over the Localbitcoins traders suggestions from @flix1 from the slack #growth channel:
- https://twitter.com/thebitcoinking, https://localbitcoins.com/accounts/profile/McVillan/
- https://twitter.com/Mqrius, https://localbitcoins.com/accounts/profile/Mqrius/
- https://twitter.com/vnistor
- https://twitter.com/kryptokitty
- https://twitter.com/affordableweb
- https://www.linkedin.com/in/davidoff-in-b14760a3/
- https://www.linkedin.com/in/matthew-saucier-702881140/
- https://www.linkedin.com/in/oscar-rono-3a760416/
- https://www.linkedin.com/in/shubham-nawariya-571103135/
- https://www.linkedin.com/in/luk-const-115927a4/
- https://www.linkedin.com/in/leonard-guerrero-1275699b/
- https://www.linkedin.com/in/ryan-white-293354151/
- https://www.linkedin.com/in/jose-marquez-60b9b368/
- https://www.linkedin.com/in/jeanman/
- https://www.linkedin.com/in/nico-van-meurs-90a9aa6/
- https://www.linkedin.com/in/alexbarbershop/
Localbitcoins.com
- https://localbitcoins.com/buy-bitcoins-online/eur/sepa-eu-bank-transfer/