Quote:
Originally Posted by TheSquealer
The only sensible way to do it would be to test it in this manner. Otherwise, its like saying "lets start a cam site that only offers Amex" or something only to find you can't convert traffic and have absolutely no idea what the size of the potential market is.
I would say based on experience that you can't pay webmasters, models etc in an unstable currency. If you've done business globally and had to deal with inflation and currency fluctuations between countries and currencies, you understand how quickly it can all turn upside down.
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You can minimize risk of volatility of Bitcoin with two key ingredients:
1. automatically adjust and offer customer Bitcoin price based on current exchange rates of your preferred currency
2. convert Bitcoin payments instantly into your currency of choice.
Both points can be solved with some programming and or implementing existing solutions.
Also worth noting: Bitcoin offers very cost-effective solution to transfer funds from point A to point B unlike existing methods which are much slower and more costly. It becomes even more apparent when dealing with bitcoins where you transact almost instantly and almost for free (I say almost free as it is not always the case) and then after I convert bitcoins to USD, funds movement slows down significantly while at each turn chunk gets bitten off by various fee percentages.