19 May '14

Sending Twitter Users Down The Bitcoin Rabbit Hole

There is a common story among students of Bitcoin. The story is simple.

Once they heard about Bitcoin and wanted to learn more, they fell down the rabbit hole and became fascinated, intrigued and empowered by what Bitcoin promises.

The Bitcoin Education Bot has been doing a great job in answering Twitter users that ask “what is Bitcoin” and other Bitcoin related questions.

Now, @bitcoinedu will also engage in conversation with users who make negative statements about banks.

The Bitcoin Rabbit Hole

The intention is not to preach the virtues of Bitcoin to these Tweeters, but rather to whisper in their ear at that moment of despair.

@bitcoinedu wont convince people to use Bitcoin simply because they have a problem with their bank, but instead point them towards the rabbit hole and give them the choice to jump in.

A user may tweet “I hate my bank”, to which the bot may respond:

"There’s a growing movement towards digital money that gives people greater control of their own finances. Have you heard of Bitcoin?"
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"While banks are a necessary evil in modern society, many people are gravitating towards Bitcoin as a store of value and transaction medium."
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… and other variations.

Harnessing Network Effect

When network effect is present, the value of a product or service is dependent on the number of others using it. A great example are social networks like Twitter or Facebook that become more useful as more users join.

Bitcoin also benefits from this network effect.

The Bitcoin Education Bot intends to assist with this network effect and by whispering “Bitcoin” to bank-haters rather than screaming from the rooftops may be a subtle, but effective strategy in getting more people interested.

Ultimately, the rabbit hole is waiting for everyone.