2016 Review: There’s New Momentum For Bitcoin and the Blockchain Industry

https://markethive.com/chriscorey/page/mycrypto

2016 set the bull charging again. A combination of events, beginning with bitcoin’s popularity as a hedge that protects assets from the forces afflicting traditional markets, set the stage for the price more than doubling in 2016. The good news on the price front tempered the volatility that has historically plagued the cryptocurrency, helping to solidify its role in society.

The positive news on the price front facilitated the continuing venture capital investment in bitcoin that was evident throughout the year. Venture capital investment in bitcoin in the last three years topped $927 million.

Bitcoin was also the best-performing currency this year, climbing 21% in USD value. Its performance surpassed that of the U.S. dollar and the Israeli shekel.

Moving Mainstream

The currency has moved from an investment commodity to everyday use, according to Coupofy.com, a digital marketing concern that provides online coupons for retailers.

Overstock, the online retailer that has been one of bitcoin’s most visible supporters among U.S. businesses, in December became the first publicly-traded company to issue stock over the Internet, distributing more than 126,000 company shares using the bitcoin blockchain.

Through a subsidiary called tØ, Overstock created a blockchain-based technology to facilitate trading financial securities.

Bitcoin also moved deeper into the financial mainstream in 2016. In May, derivatives giant CME Group launched two bitcoin benchmark indexes. Intercontinental Exchange Inc., a CME Group rival which owns the New York Stock Exchange, also announced plans to launch a real-time price index for the bitcoin.

Price Surge Began Early

Bitcoin’s price rose to just below $500 after the U.S. Federal Reserve Bank raised its fund rate by 25 basis points in late 2015. The bitcoin price tracked the U.S. dollar rally against other fiat currencies.

The negative start of the 2016 stock market demonstrated bitcoin’s value as a hedge against more volatile investment options. Bitcoin was one of the few winning investments in the worst first week of the year for U.S. stocks in early January. The Dow Jones Industrial Average and the S&P 500 had their worst first weeks in history. Bitcoin, gold, the yen and natural gas were in growth modes.

Bitcoin’s price in January surged more than $20 in a 10-hour period to scale beyond $450. The climb did not occur in a straight line, however.

After falling to $360 in January, the price rebounded past $400 in February.

Fed Rate Hike Doesn’t Spook Bitcoin

The Federal Reserve Bank’s 2016 rate increase announcement in March had little impact on bitcoin. Half the market passively accumulated via limit orders placed just below price while the other half actively sold at market price.

The Federal Reserve’s early rate hike did not have a telling impact on bitcoin price.

The release of the code for Segregated Witness (SegWit) in April, an upgrade to the bitcoin protocol designed to enable more transactions within a single block of the blockchain, helped push bitcoin past $460.

In June, the price soared beyond $570, reaching a near two-year high. It hit $750 by mid-November.

Geopolitical Events Support Bitcoin

Global political events worked in bitcoin’s favor, beginning with the June U.K. Brexit referendum. After the U.K. pound (GBP/USD) dropped to $1.32, the U.S. dollar and gold rallied while bitcoin achieved a $140 gain.

Bitcoin prices were impacted by Britain’s referendum to exit the European Union.

The climb was not uniform.

Bitcoin’s price crashed in August as the Bitfinex exchange suffered a security breach that led to the theft of an unconfirmed number of bitcoins. The big exchange further announced a shutting down of its website and trading in ominous signs reminiscent of Mt. Gox.

Bitfinex got back online after advising users that they would lose 36% of their assets. The exchange levied a 36% price on all of its users, whether or not they were victimized individually by the hackers. The attack led some to believe the industry had not come up with a way to ensure security.

Others viewed the Bitfinex episode as proof that the bitcoin network is capable of withstanding negative events.

The Surge Continues

The price struck a new yearly high of $794.39 on the Bitstamp Price Index (BPI) in late December as the surge continued.

Financial adviser Martin Tillier observed that bitcoin’s previous price hikes were mysterious, but the current one is due to the devaluation of China’s currency.

Because there are logical reasons for the current price surge, the market is acting as a forward discounting mechanism and some degree of appreciation is now built into the price, Tillier noted. In addition, the interest from traders combined with the ability to short the currency allows the market to check upward spikes naturally, simply by attracting sellers.

Bitcoin gained more value than all other currencies in 2016, driven by China’s crackdown on the yuan, isolationist rumblings in the U.S. and the U.K, and increasing acceptance by consumers and businesses, according to Bloomberg.

By the time the price surged 79 percent since the start of 2016 to $778, it reached its highest level since early 2014, according to data compiled by Bloomberg. At that point, bitcoin quadrupled the gains posted by Russia’s ruble and Brazil’s real, the world’s top two hard currencies.

Hard Fork Debate Continues

Drama engulfed the bitcoin industry over the hard fork solution to address the bitcoin block size. The issue caused longtime developer Mike Hearn to announce his departure from bitcoin in December of 2015.

Bitcoin Classic – a successor to Bitcoin-XT – appeared on the scene as a possible new implementation of the bitcoin protocol.

Many in the industry celebrated the new solution, despite the reality that the coding was not complete, and that the main developer on the project once noted that he was an average C++ programmer. This didn’t stop industry leaders like Coinbase CEO Brian Armstrong from championing the technology.

The scaling debate is set to continue in 2017.

The main controversy around Bitcoin Classic centered around two opposing viewpoints. Those seeking to increase the maximum block size from 1 MB to 2 MB claimed that it is necessary to keep transaction costs down and continue the growth of the system.

Those against the block size increase argued that important technical issues were not properly addressed.

The core development team decided to take a clear direction, yet some miners, exchanges and start-ups pushed back.

The Classic camp, consisting of entrepreneurs, wanted a more immediate fix to expanding the network by increasing the block size. The Core camp, consisting of miners, didn’t want to increase the block size since some miners will be less likely to earn mining rewards.

Mining pools representing at least 70% of the total hashing power of the bitcoin network and some of the largest bitcoin exchanges said they would not support Bitcoin Classic or any “contentious hard-fork.”

Bitcoin Price Holds

When the bitcoin reward halving occurred in July, there were no price drops. Parties were held worldwide.

There was concern about miner profitability since miner rewards were cut in half from 25 to 12.5 bitcoins.

The bitcoin price eventually resumed its upward trend. One factor noted at the time was the devaluation of the Chinese yuan, driving Chinese investors to bitcoin.

In January 2017, the foreign currency cap for the amount of foreign currency that a Chinese citizen can convert ($50,000) will be reset for the new year. Inevitably, the surge in capital outflows could weaken the yuan further, setting off a market reaction that could lead to further demand for safe assets such as bitcoin.

Other factors cited were India’s demonetization drive, the unexpected Trump U.S. Presidential election victory and the U.K. Brexit referendum.

Blockchain Continues Its Surge

Investment in blockchain technology reached new highs in 2016.

Digital Asset Holdings, the New York firm developing blockchain solutions for the financial services industry, announced two new investors. IBM and Goldman Sachs joined 13 other investors with the funding scaling beyond $60 million.

Blockstream, a startup developing blockchain sidechains, raised $55 million in Series A funding, bringing the total capital raised to $76 million.

The R3 blockchain consortium which is testing blockchain technology for securities settlements and payments continued to make news. In late 2015, 12 banks joined the group. The consortium also opened membership to non-bank financial companies, including clearing houses, exchanges, standards organizations and infrastructure providers.

In November of 2016, some banks, including Goldman Sachs, one of the earliest members of the R3 blockchain consortium, reportedly chose not to renew membership with the working group.

VISA and blockchain technology partner BTL announced in September plans to invite a select group of European banks to participate in a blockchain project that will see inter-bank payments made via transfers over the distributed ledger.

Microsoft and Bank of America Merill Lynch in September announced a collaboration with the aim to “fuel transformation of trade finance transacting” with blockchain technology. The biggest changes would mean reduced transaction settlement time and newly automated processes.

R3 and 12 member banks in October trialed Ripple’s native digital currency token XRP, using the fintech startup’s blockchain technology, for cross-border payments. The trials were conducted at R3’s lab in an effort to demonstrate cost-cutting and increased efficiency of cross-border payments using Ripple’s digital asset.

Microsoft’s blockchain-as-a-service (Baas) endeavor gained new partners, including BitPay, for the service that will be made available for its Azure cloud platform.

Bitcoin entrepreneur Jeff Garzik started Bloq, a code-for-hire service to develop features for blockchain software and provide access to blockchain support. The company charges $3,000 to $5,000 per month. PriceWaterhouseCoopers agreed to sell the service to its customers.

New Blockchain Applications Emerge

Blockchain technology continued to find new applications in 2016.

Early in the year, General Motors tweeted news of its collaboration with Lyft to create self-driving vehicles. The announcement came as the industry was awaiting Ford and Google to announce a partnership for self-driving vehicles. Both of projects promise ripe grounds for smart contracts, blockchain-powered contracts that can tie IoT and vehicle finance together.

Blockchain is allowing musicians to monetize their work and engage with fans more directly. By embedding music in the blockchain, those involved in its creation can get paid immediately in cryptocurrency. Hence, the blockchain has the potential to change the way the music industry operates.

Several initiatives were announced to use blockchain technology to connect energy grids, delivering more efficient and environmentally sustainable energy. One company, L03 Energy, is building an “open source cryptographically secure” blockchain to manage transactions across a microgrid.

The hype surrounding blockchain technology has led to numerous pilots and prototypes deployed in 2016.

PriceWaterhouseCoopers, a provider of audit and assurance, tax and consulting services, teamed with Z/Yen, a London-based commercial think tank that promotes societal advancement through better finance and technology, to study the potential of blockchain technology in wholesale insurance.

Walmart and IBM partnered in October to manage the supply chain for Chinese pork on a blockchain, ensuring consumer confidence in the food industry. Teaming up with Tsinghua University in Beijing, it is hoped that by digitally tracking the movement of pork in China on a distributed ledger, food disasters will be prevented.

The issue of institutions hyping blockchain technology without bitcoin continued to be an area of debate in 2016. While many financial institutions expressed interest in blockchain technology but not bitcoin, some observers pointed out that the institutions ignore the fact that a cryptocurrency is needed to support a blockchain. One observer claimed that hyping the blockchain while denigrating bitcoin is an effort to blunt bitcoin’s challenge to traditional currency.

Ethereum Makes Waves

2016 was also a big year for Ethereum, which continues to make waves on the cryptocurrency landscape, with developers introducing new applications that take advantage of its smart contract and crowdsale capabilities. The market cap for ether, the crypto asset and token of the Ethereum network, soared above $1 billion.

As Ethereum grows, it earns media coverage which in turn fuels its growth. It attracted interest from major financial companies that are using it for private blockchains and smart contracts.

The Ethereum ecosystem continues to grow.

In May, the Gemini exchange, founded and operated by Tyler and Cameron Winklevoss, gained the approval from the State of New York via the Department of Financial Services to offer ether trading.

Ethereum witnessed some growing pains in 2016. In June, the distributed autonomous organization (DAO) was breached when an attacker drained the ether contained in the DAO into a child DAO.

In response, Ethereum developers proposed a soft fork to be followed by a hard-fork. Miners unanimously supported the fork. The discussion and debate around the DAO vulnerability raised questions about trust and the human factor in the realm of distributed ledger technology.

Ethereum’s price jumped when the fork took effect in July. The clean resolution to the attempted heist was possible due to a new, decentralized governance model where those with a stake in the system cast their decisive votes.

Regulatory Activity Increases

While regulatory actions are not generally viewed as positive for any industry, regulations in 2016 were supportive in some ways.

A European Court of Justice ruling exempted bitcoin from value added tax (VAT), which was hailed as a victory by bitcoin advocates. The case was between the Swedish Tax Authority and the nation’s Revenue Law Commission. It commenced after a Swedish citizen asked for clarification of VAT on bitcoin.

Regulatory actions in Russia, a country that has not been supportive of bitcoin, improved in 2016. The Internet Development Institute (IRI) of Russia prepared a roadmap titled “Economics and Finance” which included a proposal for regulating blockchain.

Deputy Finance Minister of the Russian Federation stated in October that the spread of bitcoin in Russia does not represent a threat to the country’s financial ecosystem at its current rate of adoption. As such, the plan to ban the cryptocurrency was put on hold. The Ministry of Finance initially proposed a 4-year prison sentence for bitcoin users late last year. In what could be seen as a move to bring respite, the Ministry then proposed a 2-year “corrective labor” sentence – a combination of penal detention and forced labor – for bitcoin adopters earlier this year.

Bitcoin’s increasing adoption and prominence has led to regulatory moves by several countries in 2016.

document by the federal tax authority in Russia in December revealed its first official stance on the legal status of cryptocurrencies. It noted bitcoin cannot be blocked or banned since cryptocurrencies can be deemed foreign currency transactions according to Russian laws.

State regulatory initiatives in the U.S. increased in 2016, indicating growing awareness of bitcoin.

Lawmakers in the State of Wyoming proposed a bill to require that cryptocurrency be treated the same as fiat currency under the state’s money transmitter’s act. The purpose of the bill is to encourage bitcoin-friendly companies to want to do business in the state.

The New York State Department of Financial Services in June approved Ripple Labs’ BitLicense application to sell and obtain XRP – the native digital asset of the Ripple Consensus Ledger, a platform used by financial institutions and companies.

North Carolina Gov. Pat McCrory signed a law that defines “virtual currency” and clarifies what activity triggers licensure. The law defined the term “virtual currency” and the activities that trigger licensure. Virtual currency miners and blockchain software providers will not require a license for multi-signature software, smart contract platforms, smart property, colored coins, and non-hosted, non-custodial wallets.

The State of Illinois sought comment on a guidance document it released on whether a money transmitter license is needed to engage in selling decentralized digital currencies. The document says the department does not require such a license since virtual currencies have not been adopted by governments as currency.

The document outlined the Department of Financial and Professional Regulation (IDFPR) interpretation of the state’s Transmitters of Money Act and seeks to establish the regulatory treatment of decentralized digital currencies.

IRS Summons Coinbase

One of the more alarming regulatory developments in the U.S. occurred in mid-November, when the IRS summoned Coinbase to provide information about its customers to facilitate the federal agency’s investigation into possible tax evasion by users of virtual currencies at any time between Jan. 1, 2013, through Dec. 31, 2015.

A federal judge approved the IRS summons, which Coinbase said it would oppose.

Mergers And Acquisitions Continue

Mergers and acquisitions continued in 2016.

Early in the year, Barry Silbert’s Digital Currency Group, an initial investor in Coindesk, acquired the publication as a whole, with editorial and business teams at CoinDesk to merge with Digital Currency Group’s events platform to form a new subsidiary based in New York.

In January, the largest ever deal of its kind in the bitcoin industry saw leading European bitcoin exchange Krakenacquire bitcoin exchanges Coinsetter and CaVirtEx.

There were also industry casualties.

KnCMiner, after winning a lawsuit against complainants who had sued over late or failed delivery of one of the company’s previous iterations of bitcoin mining hardware, filed for bankruptcy ahead of July’s mining reward halving.

The Swedish company’s CEO Sam Cole cited energy taxes and uncertainty about the future of the bitcoin mining market.

BitLendingClub in December decided to close its service designed to help small businesses in emerging markets due to regulatory pressures, the company informed customers in a blog on its website. The blog noted the company worked hard to build a platform to provide the greatly needed service.

The blog did not expand on what regulatory pressures it was facing.

Controversies Aplenty

The Silk Road saga continued to haunt bitcoin in 2016. Ross Ulbricht’s defense filed an appeal. The defense will argue that the court prevented crucial evidence from seeing the day of light.

A federal court sentenced a Utah man, Curtis Clark Green, whose faked murder helped law enforcement put an end to the Silk Road Marketplace.

In May, Norway police made their largest drug bust ever when they arrested 15 people selling drugs on what they claim is the second version of the Silk Road marketplace that the U.S. FBI closed in 2013.

Other controversies emerged. The Securities and Exchange Commission (SEC) sought judgments against Homero Joshua Garza, GAW Miners and ZenMiner, LLC, claiming they engaged in selling fraudulent investments in virtual currency mining operations.

The SEC ordered the defendants to pay $10,384,099 in disgorgement plus prejudgment interest, along with civil penalties. The SEC charged Garza, GAW Miners and ZenMiner with securities fraud and conducting a Ponzi scheme in January. The motion seeks permanent injunctions prohibiting the companies from engaging in future violations.

As an often misunderstood cryptocurrency, controversial bitcoin headlines are never too far.

Another drama surrounded the identity of bitcoin’s founder, Satoshi Nakamoto. A text analysis of Australian Craig’ Wright’s writing by a specialist working with the U.K.-based International Business Times determined that the Australian is most likely not Satoshi Nakamoto. The company used a technique that compares texts written by Wright with anonymous texts believed to be sent by Nakamoto, including the original bitcoin white paper.

The darknet continued to poke its unwelcome head in 2016. The late February terror attacks in Brussels caused French Interior Minister Bernard Cazeneuve to cite the darknet as a terrorist tool and call for measures to improve intelligence expertise in technologies terrorists use.

Ransomware Attacks Expand

Ransomware attacks quadrupled this year over last year, averaging 4,000 per day, according to the U.S. Justice Department, The Wall Street Journal reported in a front-page story. This is because ransomware has become easier to deploy and more profitable than other scams, and bitcoin is more widely used.

Nearly one-third of bitcoin trading platforms have been hacked, reported Reuters, while about half have closed up shop in their first six years.

Also read: Bitcoin Classic releases new code that could double the block size in bitcoin

Bitcoin Questions Remain

Bitcoin’s dual role as a commodity and a currency can create financial recovery disputes when a company that pays for services using bitcoin goes bankrupt.

Bitcoin’s identity as a form of money also remains undecided. A bankruptcy court judge ruled in February in one such case, stating that the cryptocurrency is not the same as U.S. currency, but making it clear that he wanted the ruling confined to a specific legal framework.

Miami judge ruled that bitcoin isn’t real money, so someone accused of laundering it shouldn’t be convicted of money laundering. This was the argument that attorneys used in asking a Florida judge to dismiss money laundering charges against Michell Espinoza, a Miami man who police say sold and laundered $1,500 worth of bitcoins to undercover detectives.

Crypto Innovations Continue

There were new cryptocurrency innovations in 2016. Zcash, a “zero-knowledge proof” alternative to bitcoin, publishes its payments on a public blockchain, but the sender, recipient, and amount of a transaction remain private. It works like bitcoin with the guarantee of anti-forgery assurances. No one can counterfeit Zcash, or spend the same Zcash “coin” twice. But thanks to its “zero-knowledge feature”, any spender or receiver can also choose to keep their Zcash payment entirely secret.

Bitcoin’s Outlook Positive

report by Denmark-based Saxo Bank claimed bitcoin’s price could rise by 165% to more than $2,000 due to an economic stimulus expected from incoming President Donald Trump. The bullish bitcoin outlook was one of 10 Saxo Bank “Outrageous Predictions for 2017.”

Bitcoin is poised to grow in 2017.

The Trump-promised fiscal spending binge is expected to add to the approximate $20 trillion of U.S. national debt, tripling the current U.S. budget deficit from about $600 billion to $1.2 trillion to $1.8 trillion.

The spending will cause U.S. growth and inflation to skyrocket, forcing the Federal Reserve to accelerate its hikes and the U.S. dollar to soar to new heights.

This creates a domino effect in emerging markets and China in particular, leading people globally to seek alternative currencies and payment systems that are not tied to central banks. Central banks engage in exhausted monetary policies that are in full financial repression mode.

Images from Shutterstock and Ethereum.

Chris Corey

CMO Markethive Inc

Lester Coleman on 31/12/2016

 

Save

https://markethive.com/chriscorey/page/mycrypto

China, a country that already plays a critical role in cryptocurrency due its dominance in bitcoin trading and mining, will support blockchain development as part of its recently-announced five-year plan, according to the state council website. The 13th Five-Year Plan (2016-2020) period has had a strong start and is poised to fulfill all key targets set by the central government for economic development.

 

According to the “13th Five-Year Plan” national information planning document, the “Thirteen Five” period is the stage for building a moderately prosperous society, with information and communication technology to provide a breakthrough in the initial development stage.

Profound Changes Coming

The document noted that the development of the global information technology environment, conditions and content are undergoing profound changes.

“Internet, cloud computing, large data, artificial intelligence, machine learning, block chain, bio-genetic engineering and other new technologies to drive cyberspace from everyone to the Internet to the evolution of everything, digital, network, intelligent services will be everywhere,” the document stated.

With the “real” and the digital worlds’ increasing convergence, the global governance system is facing profound changes. The global economy is expected to accelerate information technology innovation, the maximum release of the “digital dividend”, in response to a “post-financial crisis” era of “growth instability and uncertainty,” the document further noted.

Technologies Cited Include Blockchain

The document also noted “new technologies such as quantum communications, future networks, brain-like computing, artificial intelligence, holographic display, virtual reality, large data cognitive analysis, new non-volatile storage, unmanned vehicles, block chaining, gene editing, etc.” will build a new game-leading advantage.

The development of the “real economy” is based on both technology and financial innovation, meaning the capital market should be further improved to encourage more venture capital investment to boost the country’s entrepreneurship and innovation.

New modes like crowd sourcing and crowd funding should be coordinated with mass entrepreneurship to boost innovation, the state council website stated.

Also read: China’s central bank will look to issue its own digital currency ‘as soon as possible’

Central Bank To Issue Digital Currency

China’s central bank, the People’s Bank of China (PBOC), announced earlier this year that it will make the necessary moves to work toward issuing a digital currency, as soon as possible, CCN reported.

A “special” research team put together by the PBOC was set up as early as 2014 to conduct research and look into all possible regulatory frameworks for the issuance of a nationwide digital currency and the impact it may have on the economy, the PBOC’s website noted.

The central bank engaged experts from Citibank and Deloitte to discuss the frameworks required for the issuance of a national digital currency.

Some of the stated benefits include:

  • Reducing costs incurred during issuance and circulation of traditional fiat currencies.
  • An increase in the transparency and convenience of economic transactions
  • The curbing effect on tax evasion, money laundering and other criminal acts.
  • Improve the central bank’s control over the money supply and circulation.
  • Breaking barriers to bring financial solutions for those unbanked in the country.

Some of the tasks set by the PBOC include the mandate of designing the proposed digital currency based on strong “economic, safety and service principles.”

Image from Shutterstock.

Chris Corey

CMO Markethive Inc

 

 

Save

 

Seven Reasons Salespeople Have The Best Job On The Planet

I took my first sales job at the ripe age of thirteen. I had been working at the same car wash company since I was eight years old. I started mowing their yard, and then at age 12 they let me vacuum cars. Mowing yards and vacuuming cars is no joke in the 100-degree Texas heat. While working the vacuums, I noticed the guy who sold the washes to the customers got to stay in the shade all day. This was very appealing to me.

After paying closer attention, I also realized the salesman didn’t vacuum or wash cars. He literally had the easiest job on the lot. It was in that moment I knew I was going to be a salesman. A year later, I made it a reality. Funny thing is, I had to really sell myself as a 13-year old capable of communicating to adults. When I closed the boss on it, I proved I was worthy.

Since that moment, I’ve been 100 percent convinced salespeople have the best job on the planet. Nowhere else can you make your own rules, your own money and do your own thing. In sales, it happens every day. I’ve made a list of the top seven reasons working in sales is where it’s at.

SIGN UP FOR E-MAIL UPDATES AND GET A DIGITAL COPY OF MY LATEST BEST-SELLER ‘ELEVATOR TO THE TOP’ FREE!!!

 

 

SUBMIT

#1: We Make Our Own Rules

Name another job where you can come and go as you please. I’m pretty sure there’s no other position where the employee is above management’s rules either. If you’re a good salesman, you can tell the manager to kiss your ass and they just might have to do it.

When I worked at Texas Lending, casual Friday was the only day you could wear jeans. I wore jeans every day and even the CEO never said anything. Why? Because I made them $50-100 grand every month. Therefore, they let me make my own rules. It’s a pleasure only top dogs can experience.

#2: We Have No Income Ceiling

I don’t know about you, but I don’t want anyone telling me what I’m worth. I don’t allow another single person to place value on my worth. Instead, I’ll go out and prove my value to multiple people. I’m the type of person, who, if you put a limit on my income, I’ll put a limit on the production I give you.

Earning what you are worth is way more fun than settling for a salary. Let the salaries go to the people who are afraid to take risks and live by a budget. We salespeople can blow all our money on Friday and make it all back on Monday. Take that HR!

#3: Our Clients Love Us

One thing I love about sales is there are other departments that deal with complaints. The only time we hear from our clients is when they thank us and tell us how much they love what we sold them. We don’t have to do anything but solve problems and close.

When you’re a Grade A problem solver, your clients love you. Who doesn’t love someone who helped them fix an issue? If there’s a problem, they still don’t complain to us. They take it out on the operations and support staff.

#4: Our Employers Love Us

When you make the person or company you work for a lot of money, they love you. It’s simple math. You + Sales = Happy Employer. Yeah, the boss may have taken Dorothy from accounting to lunch that one time she uncovered a huge error that saved the company, but he’ll take someone in sales out often.

I’ve never seen a manager or CEO walk into a company and high five the operations department. I have seen them take shots at 10am with the sales team, though!

#5: We Travel Often

When you’ve got the killer instinct and the company knows it, they want you to be the face of the enterprise any chance you get. This means when they have meetings, events, conventions and the like, you’re the go-to person. If they know you can sell, they will send you to tell.

They can’t send Dorothy and Harold off to some convention as the face. They need a salesperson to do that. Nobody buys from the accounting department. So, Harold and Dorothy can just stay behind at the office, while we salesmen handle the big boy business.

#6: We Meet New People Constantly

If you’re in sales and you’re not a people person, you’re not really in sales. You have to know and like people in order to sell to them. By liking people, I mean the idea of bonding and solving another human’s problem. Every day, we are looking for new people to meet. From cold calls to networking events to inbound leads, we are constantly meeting and helping new, cool people.

A good salesman knows that when you meet people, you ask those new people to introduce you to more people…AND repeat. New people are key to growing a sales pipeline. Getting to learn more people’s stories is exciting to most of us. It’s a blast to help someone with a problem and then convert them from stranger to client.

#7: We Have Connections Everywhere

No one calls Harold in HR when they need a hook-up somewhere. They call the guys down in the sales department for that. All those new people I mentioned previously come with connections—who are eager to help a salesman.

Plus, everyone wants to know a salesman they can trust. They know trustworthy salespeople also have other trustworthy salespeople in their network. When I was a LO, people asked me to connect them with car people, clubs and pretty much anything. They knew I knew people, that the people I knew were good.

CMO Markethive Inc

Chris Corey

RYAN STEWMAN | 1.10.2016

 

Save

Power Lead System

When it comes to having a business, marketing products or services the main thing you need is a steady flow of leads generated to go through your sales funnel. Did you heard of the term the money is in the list? Well that is a true statement, you have to build a list, and you need the marketing system that has all the components to generate your list.

This marketing system should consist with lead capture pages,sales pages, unlimited autoresponders,tracking at least this is what you get with the Power Lead System:

Power Lead System Features

Plus some awesome training to up your marketing to a phenomenal level

The Power Lead System Is Powerful

The Power Lead System is very impressive, and really incredibly powerful and you wouldn't believe how inexpensive it is. You would really find it mind-blowing when you get to login to the dashboard and see what you get. The best part is that the lead capture pages really covert and you have the ability to copy the lead capture pages and sales pages and make changes to them to market your business, products or services.

Joining Options For The Power Lead System

Take a look at the Power Lead System Compensation Plan Explained

Enough said as you can see Power Lead System is not only an marketing system but a money making system as well.

To get your 7 Day Free Trial To Power Lead System Click The Banner Below:

 

 

Lead Generation

Seven Fantastic Benefits Related To Lead Generation Systems

Regardless of the amount of SEO you may know, you will still require the right lead generation system in order to be successful in business. This article involves locating a system which is already in place based on your specific needs and what you should be looking for.

1. Expertise And Experience

The majority of the lead generation systems will typically be developed by either a professional expert team or one individual that have the necessary experience when it comes to Internet marketing. These types of individuals have usually spent a lot of their time mastering elements related to the right lead generation system. They are also focused on making sure you find success with the system to ensure you continue to make use of it.

However, make sure you do research before making a decision or handing over your hard-earned money. In addition, when conducting your own research avoid taking other individuals opinions at face-value. This is because they are just personal impressions or opinions about a product. You should be clever enough to decipher whether emotion has affected the reviews in either a bad or a good way.

Lead Generation Process

2. Focus On the Results

For a great lead generation system to display fast results it has to be able to convert. In addition, it should feature training that focuses on telling you what methods to use for traffic generation and what you should be doing to attain good results. This means choosing a system that offers immediate training and also includes A Training and Assembly Kit (Step-By-Step Process) which has proven results. It is of importance to note that this is the actual part where around 90% of the bought systems fail.

3. Funded Proposal

When paying money upfront for a lead generation system the mindset you should have is that you anticipate that it will provide leads and that it will assist in generating money from day one. However, keep in mind that the success a system puts out will depend in part on the amount of cash you make from the funded proposal of the system. This will assist in off-setting advertising and the system expenses. The system should also be able to generate a residual income that is decent for your business.

4. Performance Testing That Is Proven

You need to make sure that your auto-responder messages, sales copy and lead-capture pages have been tested with results well before you decide to implement them into your lead generation system. In addition, you must be able to take advantage of work done by these experts in the way of handing you messages and pages that have been perfected and prepared correctly through testing.

5. Auto Responder Set Up That Is Easy

There are various systems that combine the auto responder in order to build up a relationship with your leads once they have landed in the lead generation system. The company you use must be able to provide you with the necessary training in order to connect these systems together. This is particularly true when you use short-codes inside emails in order to create an affiliate link.

6. Auto Pilot Messages

An auto-responder is of no use when you do not have the correct email messages that drip to prospects and leads. Writing up these emails has the potential to take up much of your time and take time away from focusing on your business. But the ready to use systems usually have the built-in-messages that you can use instantly to assist you in the lead generation system you have chosen.

7. Customizable For Your Needs

When generating leads that are aimed at your business, make sure you use the lead-generation system that will provide you with a way to implement your own personal branding elements. This means choosing a system that allows you with a way to be in the center of everything. Remember that the system should not be distracting you from your primary goal which is associated with your main business. If the system is distracting you then you have chosen the wrong one for your needs. If you choose the wrong software you may find your leads are focusing more on the system than your actual business.

I have discovered the perfect lead generation system that has all of the above and so much more and it is called Lead Lightning, to get a free lead system and to get more details about Lead Lightning go to:
http://freeleadssystem3mh.myaffordablemarketingsolutions.com

To Your Success

 

Save

Improving Lead Generation

When it comes to a home based business, or selling products and services lead generation is the most important need, without it you will not succeed. Let’s face it without a lead generation system and one that is affective, you will not make money or sales. You heard the term the money is in the list, well that is a true statement indeed.

There are many folks that have created some so called lead building systems and resources, some of those systems just don’t make the cut. You really have to do your homework and do some research.

Because of the demand of targeted traffic, and lead generation resources, you have to proceed with caution, let’s face it there are some good lead generation resources and there some scammers that promote targeted traffic resources and lead systems.

I have come across one of the most effective lead generations systems ever created, and it has all the components that is necessary for success:

* High Converting Lead Capture Pages
* Done-for-You E-mail Campaign
* Powerful Back Office Dashboard
* Stunning Banners That Get Clicks
* And So Much More….

To grab your free lead generation system go to: http://hotfreeleadsystem.myaffordablemarketingsolutions.com

In conclusion lead generation is something that needs to be focused on in your business. It is the best way to really create a tap for hot and ready prospects for your business. While you might assume it needs to be complicated and costly, it really doesn’t.

In fact, creating successful lead generation processes can be very quick and easy and simple. By implementing all of the tips above, you should be able to create and execute effective lead generation processes that should pull in more prospective customers to your business and allow you to experience great success overall.

 

Save

Save

FaceBook Marketing

Essential Facebook Marketing Strategies

While there are many different social marketing platforms, Facebook remains the most popular of them all. Because of this, Facebook can be an incredibly efficient business tool. It is best to have a strategy in mind when you use Facebook. If you interact with Facebook in the right way, you’ll see more engagement and stronger results.

Always Include Images

If possible, you should include an image in all of your Facebook posts. Try to select images that will naturally attract attention. Images with clear, bright colors tend to stand out, even in a busy Facebook feed.

If you share a link, Facebook should automatically produce an image to go along with that link. Select the pictures in your posts with care. Don’t just think about how that image will look in your post. Think about whether or not the image will be able to command attention on Facebook.

Free Giveaways

Run Contests And Giveaways

If you want to attract attention can gain more likes, you should try running some kind of contest of giveaway. People always like winning something, even if that something isn’t particularly large. Come up with something you can give away to followers. You could give out an e-book that you’ve written, or purchase some kind of prize.

Once you have a reward, you can launch your contest. Encourage people to share the contest with their friends. More people will have the chance to see your page. Many of them may wind up following your page because of the contest. A contest doesn’t take much time or energy, but it can yield long-term results.

 

Boost Your FaceBook Post

Consider Boosting Your Posts

If your Facebook posts aren’t reaching enough people, you may want to think about giving those posts a boost. If you boost a post, you will be able to capture the attention of many different people. Boosting can be very affordable. In fact, you can easily boost a post while spending less than $10. Because Facebook’s advertising is so targeted, boosting can very advantageous to you. If you decide to boost your posts, you will be able to capture the attention of the kind of people that you most want to engage.

Writing Quality Content

Make Sure That Your Content Has Value

When you make Facebook updates, you should make sure that the content you’re sharing has some kind of value. When you share something, think about the purpose that it serves. Is it humorous? Is it interesting? Does it provide helpful information?

If your Facebook page is constantly posting low-value content, people are going to lose interest in it. When it comes to Facebook marketing, quality should always take precedence over quantity. While you should try to post regularly, you should also make sure that all of your posts are worthwhile.

 

Look At Your Analytics

Pay close attention to your Facebook analytics. See what kind of content your users are sharing the most. Do they prefer memes, or do they enjoy articles more? Do your posts get more activity if you share them at a specific time of day? If you look closely at your analytics, you will be able to learn a great deal. Spend some time examining your analytics each week. Shift your strategies as you learn more about what people want and expect from you.

Facebook marketing isn’t as challenging as it might seem. The majority of people that use Facebook are highly engaged with it. Because of that, it is one of the best social media platforms to focus your attentions on. If you put time into Facebook, you will be able to get a lot out of it.

MarketHive

 

Save

Save

Social Network Marketing

Social Network Marketing Techniques That Get Results

Social media is an essential component of any successful online marketing strategy. By getting your business set up on all of the major social networks and actively engaging with your audience, you can create long-term relationships with your customers while at the same time building brand loyalty.

Having said that, however, you can’t simply set up your accounts and expect instant success. Instead, you need to focus on posting valuable content to all of your channels so that your followers begin to grow organically. Here are some social network marketing tips that can help you get amazing results:

Social Network Followers

1. Always focus on your followers. Your ultimate objective with social media marketing should be to keep your fans and followers as happy as possible. In order to do that, you need to provide them with high-quality content that they actually want to see. This can range from helpful articles or videos to entertaining images or breaking news stories. Whatever type of content you post, make sure that it is interesting, engaging, and highly relevant to your business.

Track Your Marketing Results

2. Track your results. When it comes to marketing through social media, the only way to know what works is by tracking your results. Most social networks have built-in tracking tools that you can use to see which of your posts are the most popular. You should be able to see how many people have liked or favorited a particular post. If you post any links to your account, you should also be able to track how many people clicked on the link.

On the backend, you may want to consider including tracking codes with your links so that you can monitor how people behave after they follow one of your links to your website. This can give you more useful data on how many visitors are actually being converted into buyers.

Interact With Followers

3. Interact with your followers. One of the reasons that social media is so effective is because it allows you to personally interact with your followers. If someone posts a question to your account, always do your best to answer promptly. Likewise, if you get any customer complaints through social media, you need to deal with them immediately, doing your best to resolve the issue in a way that is fair.

This type of personal interaction can quickly build trust with your followers, turning them into loyal fans. In the end, this can help keep your business stable since these people are likely to come back to buy your products over and over again.

4. Add images to your posts. Text-based posts tend to blend into the background, often getting overlooked. By adding eye-catching images to your posts, however, you can capture the attention of more of your followers. Experiment with adding images to your posts to see whether or not it helps increase follower interaction.

5. Stick to a regular posting schedule. It is important not to post too often to your social media accounts. At the same time, however, you want to post often enough that people don’t forget about you. Set up a regular posting schedule and do your best to stick with it. This will help your followers get a sense of when to expect your posts. That way, you can keep your company fresh in their minds without overwhelming them with too many posts.

Social Network Msrketing

These social network marketing techniques should help you build a loyal fan base on all of the major social networks. Building a strong social media presence can help you develop long-lasting relationships with your customers while at the same time increasing brand loyalty.

MarketHive

 

Save

 

The Next Step: Content Re-Marketing in 2016

Internet Marketing is quickly evolving. Every year, there are more and more changes within the marketing industry. While some marketers choose to ignore these changes, those that adopt them early on seem to develop an edge over the competition. Those that are slow to adapt end up lagging behind.

Content remarketing is an effective way to reach out to the visitors who read the content on your site but do not move on to become leads. Internet Marketing involves a considerable amount of writing, from emails and eBooks to articles and blog posts.

However, the key is to be effective enough in this writing to capture the contact information of those that visit your page. Then, you are able to use content remarketing to your advantage. You will have a chance to reconnect with the people interested in what you are offering.

It is important to provide visitors with a quality experience when they come to your site. This means giving them something new and unique as they engage with your content. Then, the next step is to remarket your advertising to them in order to close the deal. In many cases, all you need is effective content to put your brand back in the front of their mind and send them to your site again to make a purchase.

 

Getting Started

With more than two million websites in the remarketing network, Google Display Network is one of the best in the world. This includes practically all of the sites in the world, even Gmail, YouTube and mobile apps.

One of the initial steps of content remarketing is defining your target audience. For instance, you could define an audience of people that visit your blog or specific pages of your website. This will make it possible for you to reach out to those people specifically with messages and offers that will peak their interest.

In order to define such an audient, simply go to Google AdWords and create your new remarketing list. All of the cookie settings will be taken care of for you. The only thing that you will have to worry about is specifying which visitors to include in the audience.

Creating the Best Remarketing Ads

Once you have defined your remarketing audience, you are ready to focus on creating the best ads for this campaign. Ad formats are crucial due to the way the ad auction operates. Various formats do not compete with one another for positioning. The lesson that you need to learn is to diversify your ad formats. This will maximize your chances of better ad placement positions.

Keep in mind that people are driven by their emotions when it comes to clicking on content. The same emotions that attract visitors to your content are going to drive them to click your ads. Therefore, the key to a successful content remarketing campaign is to create ads that reach visitors on an emotional level.

Steer clear of plain old boring, informational ads that do not stand apart from all the others out there. Instead, create ads and diversify your formats in order to charm to your target audience emotionally.

You are already aware that content marketing works well. For this reason, you have been working hard on your eBooks, blog posts and valuable, informative content for prospective customers.

People come across your content in their social media feeds and search results. However, they do not always complete your forms then and there to generate leads. The reason is not that your message does not interest them, so you use content remarketing to capture those visitors who leave your site without becoming customers.

Recapturing the attention of your audience attention will turn casual browsers into profitable leads. This is an effective marketing strategy and if you are not practicing it, you are essentially leaving a considerable amount of money on the table.

Richard Tipsword
MarketHive Developer

 

Save

Save

16 Oct / 2016

Markethive Groups

Markethive Groups The Champion of the Cottage Industry

cot·tage in·dus·try
noun
noun: cottage industry; plural noun: cottage industries
a business or manufacturing activity carried on in a person's home.

Like Facebook, Groups is a more focused culture gathering to have topic discussions based on the Groups theme.

Unlike Facebook, Groups is the center of all the tools of the system. Let’s start with the blogging platform.

  1. The Group blogging platform is a unique platform published to from the group members who choose to publish to that platform. The Markethive blog system also utilizes plugins so that content can be directed to one or more WordPress blogs.
    This allows you to build a team of marketers all working together for a common cause contributing content for the Markethive blog platforms and WordPress distribution (reach).
     
  2. SEO Backlinks management is another group function where the group organization utilizes the Backlinks system to build white hat links for specific campaigns.
     
  3. Co-op Advertising Campaigns Financing: Press releases, Youtube video ads, Facebook Ads, Google ads can easily be financed with an internal co-op campaign.
     
  4. Membership Management Reports: As Admin, you can review activity reports for the members in your group. Login activity, blogging in the group, Backlink activity, Massaging responsiveness, etc. Allow decisions based on activity to determine ejecting non responsive members.
     
  5. Rotators: Used to distribute traffic coming to the Group blogs, or Co-op traffic to designated sites or capture pages. Or distributed traffic for any reason. Similar to the Co-op campaign is the ability to acquire leads, customers or distributor in a co-op function and distribute the leads, customers, etc. accordingly.
     
  6. Asset Map: A management system whereas displays the relational connections between, capture pages, profile pages, blogs, social networks, press releases etc.
     
  7. Group Messaging: Communication with your group members is well managed with the group function messaging system.
     
  8. Replicating PDF documents:

 

A Markethive group is like a Cottage Industry. You can use Groups to build a startup business, a professional service, a power network marketing team, nothing like it before, like building a startup service with no overhead. This is the promise of the new Market Network (contrasted to the old Social Networks) That is exactly what Markethive is.

Case in point: Chris Corey, Annette Schwindt, Stephen Hodgkiss and I have formed a new corporation called Wavefour Inc. This corporation is negotiating a marketing campaign with a new client that is hiring us to run an agent acquisition, reach, Craigslist, capture page campaign, having the potential to create over $500k for us when we reach target. This is exactly why we built Markethive, a market environment designed to incubate, support and enable small, moderate and large business.

And Markethive Groups is the epicenter of all of this. Welcome to the new Market Network of the future. Markethive!

Chris Corey