Why is No-One Talking About “Bitcoin Mania” Right Now?
First have a look at this picture below..
In less than 3 months DEC 2017 – FEB 2018, Bitcoin has dropped in price by 50%. Can you imagine if Australia’s property prices (or any other asset) ALL dropped by 50%.. ? I mean.. THE ENTIRE ASSET CLASS.
It’s just proof that there is no underlying value production fuelling it. Bitcoin might go up again, and then down again. It doesn’t really matter unless you like to gamble. For my full thoughts on this, go here.
The reason that Bitcoin has left our news websites, and daily media updates is because it’s just not sexy anymore. It currently DOES NOT support the story that people who believe in it, want you to hear.
The Shiny Object Syndrome.
There’s something about Bitcoin Mania, that we can relate to marketing a business on Facebook, and the internet in general.
When we’re looking for a way to make something work, a shiny (and sometimes ‘sexy’) object will always stand out.
Why do you think A LOT of companies still use barely dressed humans in their adverts?
A recent example with Facebook Ads and Social Media Marketing is the rise of “bots”. For anyone that doesn’t really understand it, they’ll think:
- “This is it!”
- “This is the silver bullet I’ve been waiting for!”
Let me coin a new phrase: “It’s easy to get distracted, when work is the alternative.” And there we have it (i’m sure there are similar expressions out there).
In a world where everyone wants to be rich, a shiny object like Bitcoin is a great way to distract ourselves from saving money and working hard.
Marketing your business and growing it through more sales, is achieved by the ‘saving and working hard’ option. And not the ‘buying Bitcoin’ option.
There are several great examples of this when it comes to Facebook marketing. There is always a new hack just around the corner, and there’s always a crowd running towards it.
What really helps any business owner attract customers and make sales hasn’t changed much in the last 100 years.
And I don’t see it changing in the next 100 years.
It’s not ‘hacks’ that sell products. It’s the same underlying principles that your biggest competitors are using which MADE THEM your biggest competitor!
The good news is that there are not a lot of these principles. And they are NOT forever changing.
If you want to avoid the hype, find the spot on this page to enter your email address, enter your email address and you’ll be added to the group of people I share REAL STUFF with each week.