Prey On The Uneducated
The ad pictured popped up on my Facebook feed as a sponsored post. I've gotta admit that this is a pretty good ad!
While this isn't a sponsored post, if you want to hook me up with Ethereum, I'll gladly accept! Let's be honest, I'm easily bought... I'll take anything!
"Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications."
If that doesn't help you, check out the site I stole that text from.
The ad is great. Caution ahoy!
It's a good example of how to persuade people who don't understand finance, shares, housing market etc. because it leaves out so much more that those uneducated people won't think of. Like how this is a new-ish technology.
Let's take a look at the ad from the bottom up - the order people will read it on their socials.
The headline under the pic
Remember when Bitcoin (the online currency) came out? I don't.
As the copy says, the value rose from $90 to $1900, and it gets the reader thinking about how stupid they are that they didn't buy Bitcoin at its lowest. EVEN IF they didn't know about it in the first place!
I didn't know much about Bitcoin until it reached its peak and it makes me wish I bought some anyway.
This ad hopes that you feel like me, that you missed out on the chance of a lifetime with Bitcoin, and now you don't want to miss out on this - another opportunity of a lifetime.
It's implying that if Bitcoin hit $90 and rose to $1900, Ethereum will too... but it's not saying that at all. It's your brain joining the dots.
You would have seen a similar graph on TV etc - it's one way to represent the value of something, like a stock on the share market.
It looks like Ethereum is rising in value pretty quickly. The green means it went up and the red means it went down.
There's more green than red and the overall shape looks like it's rising... so this is a winning investment!
I'm going to get technical here:
This is a candlestick chart showing where Ethereum opened and closed. The text on the bottom axis is too small to see whether it represents days, weeks, months or years - therefore one bar represents a timeframe. We can assume it's one day per bar once we read the status copy up the top. Daily bars always look more juicy!
A candlestick chart highlights the open and close price - the red and green colours. But it doesn't really show the highs and lows - which are different and is represented by the hairs that stick out from the top or bottom of the body. If they showed this chart in a different style, and highlighted the highs and lows, the reds and greens would look bigger, but you want the least amount of red as possible.
In short: It looks like a winning investment and you don't need to read more!
The status copy
If you read this, you're interested. This is where you learn that it took Ethereum two months to get from $30 to $90.
There's also a disclaimer saying that past performance isn't an indicator of a future result... but at this stage, no one really cares! They want a quick buck, it's taken 2 months to make a $60 profit, so it'll take another two months to make $60. But that's not always true and it could take years to see a profitable result.
The whole thing is rather positive, and although the disclaimer touches on how you can lose money, the pros outweigh the cons. For a lot of people, that's all they need to know.
It plays on the emotion of people who have the fear of missing out on the chance of a lifetime, to become the next Wolf of Wall Street. Unfortunately, it sucks people in and if Ethereum doesn't rise in value, you're going to hear about people who have lost a whole lot of money.