My Dirty Little Bitcoin Secrets

[Pages:278]My Dirty Little Bitcoin Secrets



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My Dirty Little Bitcoin Secrets

Contents

Introduction ................................................................................................................................................ 15 I'd like to congratulate you for taking the first step towards creating your next successful Bitcoin . 15

What You Can Expect From This Book? ...................................................................................................... 18 Part 1: The Bitcoin Ecosystem................................................................................................................. 18 Part 2: Creating your Bitcoin business .................................................................................................... 18 Part 3: Marketing your Bitcoin business like a pro ................................................................................. 18 Glossary................................................................................................................................................... 19

3 Final Thoughts Before We Get Started .................................................................................................... 20 The Bitcoin Ecosystem ................................................................................................................................ 22 A Land of Endless Opportunities................................................................................................................. 22 Chapter 1: Can Someone, Once and for All Explain to me What Bitcoin is?! ............................................. 23 Chapter 2: Business Opportunities Hidden Inside the Bitcoin Landscape.................................................. 29 Chapter 2.1: Using the Bitcoin protocol to disrupt industries worldwide. ................................................. 32

Email.................................................................................................................................................... 32 Video ................................................................................................................................................... 33 Crowdfunding...................................................................................................................................... 33 Payouts................................................................................................................................................ 33 Remittances ........................................................................................................................................ 33 Ecommerce ......................................................................................................................................... 33 Identity ................................................................................................................................................ 34 Attribution........................................................................................................................................... 34 Voting .................................................................................................................................................. 34 What business opportunities lie within the Bitcoin 1.0 industry?.......................................................... 35 Chapter 2.2: Bitcoin B2C market opportunities.......................................................................................... 36 Bitcoin Exchanges ................................................................................................................................... 36 Bitcoin Wallets ........................................................................................................................................ 37 Bitcoin Mining Companies ...................................................................................................................... 38 Mining Bitcoins for a profit ................................................................................................................. 38



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My Dirty Little Bitcoin Secrets

Creating and selling mining rigs .......................................................................................................... 38 Cloud mining companies..................................................................................................................... 38 Bitcoin CFD trading ................................................................................................................................. 39 Bitcoin Gambling Sites ............................................................................................................................ 40 Bitcoin Faucets ........................................................................................................................................ 40 Bitcoin Information Sites ........................................................................................................................ 41 Bitcoin Information Products.................................................................................................................. 42 Physical Bitcoin products ........................................................................................................................ 42 Create your own currency - Altcoins ...................................................................................................... 42 Chapter 2.3: Bitcoin B2B Market Opportunities ......................................................................................... 44 Bitcoin Infrastructure Services................................................................................................................ 44 Bitcoin Add-Ons For Websites ................................................................................................................ 44 Bitcoin Affiliate Programs ....................................................................................................................... 45 Chapter 2.4: Coming up with different ideas for a Bitcoin business .......................................................... 46 Tool #1 - Brainstorm with friends ........................................................................................................... 46 Tool #2 - Use Google's Keyword Planner to see what people are already searching for ....................... 46 Tool #3 - Search around forums.............................................................................................................. 49 Tool #4 - Use Google's autocomplete feature ........................................................................................ 49 Tool #5 - User UberSuggest to get even more autocomplete ideas! ..................................................... 49 Tool #6 - Look around marketplaces ...................................................................................................... 49 Tool #7 - Find out what already works ................................................................................................... 50 Chapter 2.5: Creating a SWOT analysis for your Bitcoin Business Idea ...................................................... 51 Strengths ............................................................................................................................................. 51 Weaknesses ........................................................................................................................................ 51 Opportunities ...................................................................................................................................... 52 Threats ................................................................................................................................................ 52 SWOT Analysis Demonstrated On My Dirty Little Bitcoin Secrets Project ............................................. 52 Strengths ............................................................................................................................................. 52 Weaknesses ........................................................................................................................................ 53 Opportunities ...................................................................................................................................... 53 Threats ................................................................................................................................................ 53 Chapter 2.6: The Beigel analysis (for lack of a better name...) .................................................................. 54 Need.................................................................................................................................................... 54



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My Dirty Little Bitcoin Secrets

Viability ............................................................................................................................................... 54 Competition ........................................................................................................................................ 54 Profitability.......................................................................................................................................... 54 Chapter 2 Homework - Start Brainstorming your New Bitcoin Business.................................................... 56 Chapter 3: (Bitcoin) Affiliate Marketing - My Dirty Little Secret................................................................ 58 Chapter 3.1: How Affiliate Programs Actually Work................................................................................... 59 The merchant ...................................................................................................................................... 59 The affiliate ......................................................................................................................................... 59 The network ........................................................................................................................................ 59 Your job as an affiliate, if you choose to accept it... ............................................................................... 60 Chapter 3.2: The Miracle of Online Tracking through Cookies ................................................................... 61 Chapter 3.3: Bitcoin Affiliate Programs and How to Find Them................................................................. 64 Bitcoin exchanges affiliate programs...................................................................................................... 64 Coinbase.............................................................................................................................................. 64 Coinmama ........................................................................................................................................... 65 CoinMX................................................................................................................................................ 65 iGot...................................................................................................................................................... 65 Local Bitcoins....................................................................................................................................... 65 Virwox ................................................................................................................................................. 65 Bitcoin trading services affiliate programs ............................................................................................. 65 AvaTrade ............................................................................................................................................. 65 eToro ................................................................................................................................................... 66 Markets ............................................................................................................................................... 66 Plus500................................................................................................................................................ 66 Bitcoin wallets affiliate programs ........................................................................................................... 66 Ledger ................................................................................................................................................. 66 TREZOR................................................................................................................................................ 66 Bitcoin mining affiliate programs............................................................................................................ 67 Cex.io................................................................................................................................................... 67 Additional Bitcoin affiliate programs ...................................................................................................... 67 Lynda ................................................................................................................................................... 67 Udemy ................................................................................................................................................. 67



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My Dirty Little Bitcoin Secrets

Amazon associates .............................................................................................................................. 67 Chapter 3.4: What to Check When Applying For an Affiliate Program....................................................... 68

Is the product any good? ........................................................................................................................ 68 What are the payment terms of this specific program?......................................................................... 69 What is the cookie length? ..................................................................................................................... 69 Are there any restriction on the way you can promote the product? ................................................... 70 Is the company Affiliate oriented?.......................................................................................................... 70 Is this product already being promoted online?..................................................................................... 71 Chapter 3.5: Rules For Affiliate Marketing You Should Live By .................................................................. 76 Adwords search network campaign: ...................................................................................................... 77 Rule #1 ? Test each affiliate program before investing efforts in promoting it. .................................... 79 Rule #2 ? Never rely too heavily on one vendor .................................................................................... 79 Rule #3 ? Never rely too heavily on one product ................................................................................... 79 Rule #4 ? Build a good relationship with your affiliate manager ........................................................... 80 Rule #5 ? Always use several traffic sources .......................................................................................... 80 Chapter 3 Homework - Get Started with Your First Bitcoin Affiliate Program ........................................... 81 Creating Your Bitcoin Business ................................................................................................................... 83 From Idea to Reality.................................................................................................................................... 83 Chapter 4.0: Lean Methodology - The Blueprint for Maximum Success in Minimal Time ......................... 84

Create an MVP .................................................................................................................................... 84 Test as soon as possible ...................................................................................................................... 84 Track everything.................................................................................................................................. 85 Learn from your mistakes ................................................................................................................... 85 Build - measure - learn ........................................................................................................................ 86 Chapter 5.0: Assumption #1 - The Problem................................................................................................ 87 Why do you think people need this product? ........................................................................................ 88 Assumption validation tool #1 - Google Keyword Planner tool.............................................................. 89 Assumption validation tool #2 - Google autocomplete .......................................................................... 90 Assumption validation tool #3 - Checking for competition .................................................................... 91 Assumption validation tool #4 - Checking forums (Reddit, FB, Google+)............................................... 92 Assumption validation tool #5 - Check marketplaces............................................................................. 92 Chapter 5.1: Assumption #2 - The Solution + Goal ..................................................................................... 94 Why did I choose 2% as my goal? ........................................................................................................... 94



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My Dirty Little Bitcoin Secrets

Define your exact idea for a "successful goal" ........................................................................................ 95 Get 50 signup in 5 days ........................................................................................................................... 96 Get enough people to buy my product................................................................................................... 96 Chapter 5.2: Assumption #3 - How will you Make Money? (optional)....................................................... 97 Sell a product .......................................................................................................................................... 97 Sell a subscription ................................................................................................................................... 97 Create a freemium .................................................................................................................................. 97 Refer to an affiliate offer ........................................................................................................................ 97 Ask for donations .................................................................................................................................... 98 Chapter 5 Homework: Validate Each of Your Assumptions...................................................................... 100 Chapter 6.0 - Measuring Your MVP Assumptions..................................................................................... 101 How we track stuff on the Internet ...................................................................................................... 101

Uniques or unique users ................................................................................................................... 102 Page views......................................................................................................................................... 102 Conversion (or goals in Google Analytics)......................................................................................... 102 The 300 Rule: Never decide before reaching 300 test samples ........................................................... 102 A/B testing - When you don't know what will work better .................................................................. 103 Tracking tools you should know about ................................................................................................. 103 Google Analytics................................................................................................................................ 103 MixPanel ........................................................................................................................................... 104 CrazyyEgg .......................................................................................................................................... 104 Visual Website Optimizer.................................................................................................................. 104 Optimizly ........................................................................................................................................... 104 Chapter 7.0: Build - The MVP of Your Bitcoin Business ............................................................................ 105 Facebook ............................................................................................................................................... 106 Virgin Air ............................................................................................................................................... 106 Zappos................................................................................................................................................... 106 Craigslist ................................................................................................................................................ 106 Facebook notes ................................................................................................................................. 107 Facebook Groups .............................................................................................................................. 108 Facebook pages................................................................................................................................. 108 Kickstarter campaign......................................................................................................................... 108



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My Dirty Little Bitcoin Secrets

................................................................................................................................. 108 Wix .................................................................................................................................................... 108 Blogger .............................................................................................................................................. 109 Chapter 7.1: Get A Domain Name ............................................................................................................ 110 Buying a "used" domain name ............................................................................................................. 110 Domain extensions................................................................................................................................ 110 Make your name short and memorable ............................................................................................... 111 Incorporate your niche in the domain name ........................................................................................ 111 Don't sweat over the domain name too much..................................................................................... 111 Buy the domain, and only the domain for one year only ................................................................. 111 Get a free domain name from your hosting provider ...................................................................... 112 Chapter 7.2: Get A Hosting Plan ............................................................................................................... 113 You don't need more than the basic plan......................................................................................... 113 Support is critical............................................................................................................................... 113 Make sure they help you set up the site........................................................................................... 114 Choose a host that is located where you target audience is ............................................................ 114 Make sure there's a money back guarantee .................................................................................... 114 Chapter 7.3: Set Up Your CMS .................................................................................................................. 115 Chapter 7.4: Design Your Site ................................................................................................................... 116 Chapter 7.5: Add Content To Your Site..................................................................................................... 117 Additional website building tools ......................................................................................................... 117 Google Analytics................................................................................................................................ 117 Contact Form 7.................................................................................................................................. 118 W3 Total Cache ................................................................................................................................. 118 Akismet ............................................................................................................................................. 118 Bitcoin Ticker Widget ........................................................................................................................ 118 WordPress SEO by Yoast ................................................................................................................... 118 ThemeForest ..................................................................................................................................... 118 Chapter 7 Homework: Build Your Bitcoin MVP! ....................................................................................... 119 Chapter 8.0 - How I Used Lean Methodology to Build 99Bitcoins............................................................ 120 Coming up with my best idea through analysis .................................................................................... 120 Need .................................................................................................................................................. 120



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My Dirty Little Bitcoin Secrets

Profitability........................................................................................................................................ 121 Now comes my favorite part - the assumptions................................................................................... 121 Bonus Chapter: Hiring Amazing Freelancers for Peanuts ......................................................................... 126 Upwork.................................................................................................................................................. 126 Elance .................................................................................................................................................... 127 Fiverr ..................................................................................................................................................... 127 99Designs/tasks .................................................................................................................................... 127 Holding an auction for your next job .................................................................................................... 128 The problem isn't the marketplace....................................................................................................... 128 Posting like a pro................................................................................................................................... 128 Create a post description that six-year-olds can understand............................................................... 129

Explain everything............................................................................................................................. 131 Give as much data as possible .......................................................................................................... 131 Give live examples ............................................................................................................................ 131 Have specific demands...................................................................................................................... 131 Bonus Chapter: Screening out dozens of freelancers in just five minutes ............................................... 136 On average each programming/design job post will receive 30+ candidates ...................................... 136 Step 1 ? A rough cut of everyone who doesn't follow the rules ...................................................... 136 Step 2 ? Screen for feedback and response time. ............................................................................ 138 Step 3- In depth reviews ................................................................................................................... 138 Step 4 ? Personal interviews (optional) ............................................................................................ 139 Bonus Chapter: Getting the Most Out Of Your Freelancer....................................................................... 140 Your contractor will treat you the same way you treat him................................................................. 140 Your contractor matches your response rate ................................................................................... 141 Never pay all of the amount before the job is completed 100%...................................................... 141 ALWAYS pay on time......................................................................................................................... 141 Feedback is almost as important as money...................................................................................... 141 You get feedback too you know........................................................................................................ 142 Marketing Your Bitcoin Business Like a Pro.............................................................................................. 146 Chapter 9.0: The Basics of Online Marketing ........................................................................................... 147 First of all define your product ............................................................................................................. 147 There's one thing you HAVE to find out before carrying out your marketing plan .............................. 148



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