Post
Topic
Board Bitcoin Discussion
Re: I'm done
by
Phinnaeus Gage
on 16/09/2011, 13:12:28 UTC
It did in the begining.. amazing how many people will stand here and oust me now, but backed me up 6 months ago. One more reason why I'm done with bitcoin.

Look, I dont know you, or your history here, I dont even understand this gift card business (thats a US thing I assume), but its pretty clear you got it wrong when you thought any business would fly just because you take bitcoins. Asking people on a bitcoin forum if some sort of bitcoin business is a good idea, is by itself a bad idea. Of course most people will say "yes", they want bitcoins to take off. Thats no substitute for market research or common sense.

A business concept thats gonna fail in dollar is gonna fail in bitcoin. Exceptions might be specific bitcoin related services (exchange, bitcoin banking etc), but any real world trade in bitcoin is going to have to compete with the very same real world trade done in dollars. You might get small bonus from people here who are sympathetic to the idea and want to support bitcoin, if they are going to buy something they would buy anyway, they might prefer buying it with bitcoins so you might get away with tiny higher margins, but do you really think your store could possibly have worked if you sold in dollars? If not, you could have predicted the outcome.


There's even a business model of selling every day stuff for Bitcoin, provided the model is sound. A sound model only needs a tad marketing, whereas a poor business model can not be helped with any  marketing.

Brain fart alert: Used Alpaca Socks ~ With a tad bit of marketing coupled with a decent price point (or versa visa), this idea can has legs.