Low hanging fruit...

UvasUvas Posts: 678 Silver ✭✭✭✭
edited October 2016 in About Goldmoney
I have been watching the live audit page with interest since it has been released. And I have noticed a marked decrease in new accounts being opened. We were averaging 50-60k new accounts a month for quite a few months, but we slowed to 30k last month. And if the first week of this month's numbers are an indicator, it looks like we will be gaining "only" around 15k new accounts for the month of October.

I wonder if this is an affect of having signed up all the gold bugs, and are left with a more uphill climb with people unfamiliar with gold. I do my best to educate people, but I find most people react negatively to gold. It is very puzzling. They happily use banks that are committing untold amounts of fraud, but seem to loathe a system that keeps their value safe. They instantly consider it a scam without any kind of evidence. Most puzzling.

Anyway, perhaps the drop in signups is a change in advertising by Goldmoney? Has anyone else noticed the dropoff?

Thoughts?

Comments

  • Fedsweden1Fedsweden1 Posts: 12 Tin ✭
    Yes indeed, It's sad. They will come eventually when the recession are mire available for the mass.

    Keep inform the crowd!
  • GoldIsCurrencyGoldIsCurrency Posts: 1,783 Gold ✭✭✭✭✭
    edited October 2016
    @Uvas New Account signups appear to go through phases where it will speed up and also slow down. The most important thing to watch is the Real Time Audit in GAU as that is how the Customer Assets and Transaction volume is calculated so it is important to watch in GAU as the currency. While the new user signups have recently slowed down the transaction volume has been increasing. It significantly increased over the last 5 days, presumably many are taking advantage of the recent pullback in precious metals. Transactions is how Goldmoney makes money so this is the figure which I consider one of the most important.

    With Schiff Gold joining Goldmoney it is our understanding that Peter will be marketing the platform once Schiff Gold has been amalgamated into the structure. This should help increase the rate of user signups. I am not sure what marketing plan they have up their sleeve with Peter but I look forward to it.

    With some brick and mortar Goldmoney locations being opened up in strategic cities this should also help user signup growth. The first location opening in Toronto on Avenue Road is a perfect location which should help bring a lot more awareness to Goldmoney and what this platform offers. These locations will also help offer education to those that don't understand how Gold retains purchasing power. A handful of brick and mortar locations should also create a comfort level to new users in regards to legitimacy which was a valid point you brought up. Some people get nervous with new things on the internet and knowing there are actual locations you can go to and speak directly with Goldmoney staff provides reassurance that everything is legit. Comfort level takes time but these locations should speed up the comfort level.

    There was discussion on one of the conference that they were working on something with the TV show Gold Rush. I am not sure if that is still in the works but something like that could be a huge catalyst in regards to user signups and deposits.

    This Payments and Savings Platform is still very new where majority of the world has never even heard about it. More time along with more understanding and my expectation is that there will be significant growth going forward. Goldmoney is holding Over 20 tonnes of customer Gold alone not including all the other precious metals and these holdings have all been increasing in size. 20 tonnes of Gold is more than "Most Countries" in the World hold. If Goldmoney was a "Country" it would currently be in position number 62 in the world and moving up the list.


    Rome wasn’t built in a day, but they were laying bricks every hour.
  • UvasUvas Posts: 678 Silver ✭✭✭✭
    Nicely said.

    I am not saying 600 signups a day is slow, just slower than our breakneck speed up till now. :)
  • GoldmattersGoldmatters Posts: 3,955 Admin
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @Uvas @GoldMatters @Uvas @GoldIsCurrency

    All valid points. I would like to see more "celebrity spokesmen" (and/or women). Jim Rickards? Mike Maloney? Ron Paul?

    I would also like to see more growth through acquisition. Mike Maloney's GoldSilver.com?

    Still Goldmoney is less than two years old. Its competition both traditional fiat and precious metals are decades old or older. Growth can be painful. Transaction volume is key to revenue, but new users are key to maintaining and growing transaction volume.
  • GoldmattersGoldmatters Posts: 3,955 Admin
    @79Au197 I like the idea very much of someone who can be another well known face of Goldmoney. It seems like Goldmoney is doing a major acquisition per year and i can wait to see what 2017 holds. Maybe one of the names mentioned here already (pure speculation).

    What i would like even more, is a totally mainstream famous person endorsing Goldmoney. We need to be targeting a cross over population to really get things cooking here.

    Let get the folks who dont know gold like we do involved and turn Goldmoney into the global powerhouse it needs to be ;)
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @GoldMatters said

    "What i would like even more, is a totally mainstream famous person endorsing Goldmoney. We need to be targeting a cross over population to really get things cooking here."

    Rachel Ray? Emeril? :p
  • GoldmattersGoldmatters Posts: 3,955 Admin
    @79Au197 Gordon Ramsay? "Fiat Kitchen?" Yelling at people to stop using fiat currency and supporting worthless paper?

    Gordon: "YOU DONKEY! STOP SAVING IN CONFETTI MONEY!"
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @GoldMatters

    Need to get that "Gold Rush" sponsorship in play. ( @JacHumphrey ? )
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    I agree we need somebody famous to endorse Goldmoney.
  • OptimanOptiman Posts: 50 Tin ✭
    Large number are fine, but the volume of business is what counts. Alisdair McCleod is the Marketing Director at GoldMoney. It would be interesting to hear what he has to say.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,783 Gold ✭✭✭✭✭
    edited January 2017
    Uvas said:

    Nicely said.

    I am not saying 600 signups a day is slow, just slower than our breakneck speed up till now. :)

    Not sure if others noticed. For the last couple of months there has been an average of about 1000 new account signups per day. Over the last week that number has doubled up to over 2000 new account signups per day. Hoping to see that growth trend continue. Cheers.
  • lnwlf17lnwlf17 Posts: 8 Tin ✭
    edited January 2017
    In the shadow of the 'DOW 20,000' euphoria, there doesn't seem to be too much general investor demand for gold or a strong consumer desire for the services provided by Goldmoney.

    But just wait: all that's required for Goldmoney to take the next big leap forward is a significant crisis of confidence that sends investors scrambling for gold and consumers running to Google and typing "how to invest in gold". Goldmoney's infrastructure has been quietly strengthened and refined since its inception. Its an exceptional service. It's ready for the masses. Now, the masses just need to be ready for Gold.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @lnwlf17 said
    lnwlf17 said:

    Goldmoney's infrastructure has been quietly strengthened and refined since its inception. Its an exceptional service. It's ready for the masses. Now, the masses just need to be ready for Gold.

    Well said.

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