Bitcoin is decentralized and don't need a referral code because it is only centralized platforms that do have referral code so that they can use it as a bait to get more customers because people will love to earn from it.

Bitcoin is solid and no one is in charge of controlling the whole system which makes it impossible and if I may ask who will be giving out the bonus and how. Mate buy your bitcoin through p2p and that's all. Exchanges and online financial institutions are the ones that does this because it is own by someone and they can collapse one day. Bitcoin has spoken for itself since the past 14 years because everyday the adoption increases and it is gaining more popularity.

No it is not.
Bitcoin also does not rely on exchange's referral programs. It is more of the exchange seeking exposure and trying to enter the bitcoin market with the number of investors it has.

That is for you to decide. There is no link between referral codes and the bitcoin network, if you want to join one run by a third party platform to get paid in whatever currency they are offering, that is a personal decision,

- Jay -

Referrals are pretty much a waste of time for most normal people, but a great business for those who want advertising.
But since Bitcoin itself has no revenue, it has no means to offer any kind of direct benefits for advertising it.
Until here you are right. But there are things you have missed:

* There are plenty of businesses of all kinds around bitcoin and many of them advertise themselves or sometimes, even bitcoin itself. Some as referral revenue, some by ads or posts on social media.

* Every bitcoin holder (and they aren't few) knows that the more people they attract to get interested into bitcoin and become holders, the more the price will grow (not immediately, but still...) hence their investment becomes more profitable. They will advertise bitcoin "for free". And as example, just look at M. Saylor's posts and apparitions.

* Bitcoin price has a cycle of ups and downs. When the price goes up, Bitcoin fills the newspaper pages, bringing a new wave of investors. Some will FOMO and maybe even sell cheap some years later, some will use their brains and do better, some will remain holders and will enrich the ecosystem and may advertise bitcoin themselves.


Imho we are past the days we need every bit of advertising. Bitcoin is already known my media, investors, financial institutions.
So no, imho it doesn't worth going on that path, not for bitcoin itself. For a new bitcoin related business, .. that's a different story.

Referrals are for brands that need more customers and by running ads or referral programs you driving people into that brand. Bitcoin is not a brand or any entity to be advertised, it is just as though you want the fiat to run its ads so that people would use it which is not possible. Another thing is most exchanges as you have mentioned actually run this ads or referrals and they do reward the winners in bitcoin or other cryptocurrencies. This on its own is more or less an adverts for bitcoin itself.

The growth on the number of people using bitcoin needs to be organic otherwise there is no point to it, because if we assumed that somehow your idea became a reality and referrals became an integral part of bitcoin, I do not know how as this will require for someone to pay for it and this is not really possible in a decentralized network, then everyone will be in bitcoin for the money to be gained by those referrals, also your idea sounds very similar to a Ponzi or a HYIP and this could give grounds for the SEC and other similar institutions to distrust bitcoin even more, in short your idea is completely unworkable and it is because of it that it has never been even seriously considered at all.

No, bitcoin does not require a referral code to increase its popularity. Bitcoin has high value with its concept so that without promotion Bitcoin continues to grow. What bitcoin needs is time, bitcoin's lifespan is still short, the longer it lasts, the more popular it will be and the price will be more expensive. We just need to wait until it happens


Referral codes are a business strategy so that people want to promote their business without needing to be paid up front, they will be paid if their work is successful in getting customers and the company will give a presentation on deposits made on its platform. If we are a great marketer, then sharing referral codes is a promising business because we can get sustainable income if we are able to get lots of new customers for the platform we promote through referral codes.

So, technologically and popularly, bitcoin does not require a reference code because bitcoin is not a business. Those that need a referral code to increase customers are companies that use bitcoin as money or assets, such as exchanges and gambling companies. This is necessary not to promote bitcoin but to promote their platform and get more new users

referrals are a mean of promotion

exchanges do this so they get more customers and in return those who promote it will have an incentive most exchanges that offer referrals are centralized which is the exact opposite of bitcoin

bitcoin is already the most well-known cryptocurrency that there is basically no need to pay people to promote it because everyone just passes the information through word of mouth willingly

if i were to recommend to a friend or a family i’ll just stick with bitcoin
i don’t want to be blamed if they end up losing money


well you could definitely earn from referrals but i don’t think this will be enough or would give a valuable amount

Sharing referral codes is good business but difficult to do. Need more marketing abilities and skills. The easiest way I know is to have a high traffic website to share referral links. Like online casino review sites, usually they will embed a referral code on their site and in my opinion they get a lot income from these referrals.

Bitcoin is powerful now and stands alone; it doesn't need something like a referral system, as some said referral systems are used by other businesses or technologies to attract more users; it is a way to promote their technology or business. But now, bitcoin doesn't need such a referral system to survive or to attract many customers and investors, as it is also a decentralised currency and was born by a unique and new technology such as blockchain, and we can't see how referrals will be applied in the system.

And if the referral system is possible in bitcoin, then Nakamoto, the creator of bitcoin, has already implemented it from the start. Also, the referral system is more appropriate for exchange platforms than bitcoin or crypto currency itself.