Topic: Help me brainstorm for Spend Bitcoins - page 2. (Read 2243 times)
Sell featured spots for people's items/store?
P.S. -- Here are Spend Bitcoins stats for the last month:
There's gotta be a way to make that profitable.
Quote
8,800 Visits
17,338 Pageviews
1.97 Pages/Visit
55.99% Bounce Rate
00:02:26 Avg. Time on Site
44.39% % New Visits
17,338 Pageviews
1.97 Pages/Visit
55.99% Bounce Rate
00:02:26 Avg. Time on Site
44.39% % New Visits
There's gotta be a way to make that profitable.
I have really enjoyed running Spend Bitcoins and will continue to do so, but something has to change.
The entire point of Spend Bitcoins was to allow people to spend bitcoins at the market rate without paying any transaction fees. Instead, I got the vendors to pay the transaction fees (+ theoretically a profit for me) by signing up for their affiliate programs.
However, the affiliate payouts are actually not covering my losses. So far, Spend Bitcoins is actually a few thousand USD in the hole (which is a large part of the reason I can't afford the trip from Australia to the US I had planned for this Thanksgiving for my parents to meet their new granddaughter 
.
I have been using the 24 hour average as my exchange rate, and it appears that gives too much incentive for my order volume to be greatest during down markets (or perhaps the problem is simply that we have basically been in a down market, with small blips up, since the Mt Gox hack). This then means that when I exchange btc -> USD (which I have to do a few times a week in order to pay for Amazon and other purchases), my loss has averaged greater than 5%, which is about when I get from Amazon.
The ordering pages are currently down for maintenance while I work out what to do with the exchange rate. One idea I have is to use the last Mt. Gox trade as my exchange rate, but that could be abused as well. I really don't want to make my exchange rate lower than the market rate, as I would then be just another btc->gift card exchanger without my unique selling point being that there are no added transaction fees.
So... if you have enjoyed the services of spendbitcoins.com or just have some nifty ideas for me on how to make my business profitable, can you please post them below?
The entire point of Spend Bitcoins was to allow people to spend bitcoins at the market rate without paying any transaction fees. Instead, I got the vendors to pay the transaction fees (+ theoretically a profit for me) by signing up for their affiliate programs.
However, the affiliate payouts are actually not covering my losses. So far, Spend Bitcoins is actually a few thousand USD in the hole (
I have been using the 24 hour average as my exchange rate, and it appears that gives too much incentive for my order volume to be greatest during down markets (or perhaps the problem is simply that we have basically been in a down market, with small blips up, since the Mt Gox hack). This then means that when I exchange btc -> USD (which I have to do a few times a week in order to pay for Amazon and other purchases), my loss has averaged greater than 5%, which is about when I get from Amazon.
The ordering pages are currently down for maintenance while I work out what to do with the exchange rate. One idea I have is to use the last Mt. Gox trade as my exchange rate, but that could be abused as well. I really don't want to make my exchange rate lower than the market rate, as I would then be just another btc->gift card exchanger without my unique selling point being that there are no added transaction fees.
So... if you have enjoyed the services of spendbitcoins.com or just have some nifty ideas for me on how to make my business profitable, can you please post them below?
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