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Author Topic: Web Advert Market using Bitcoins [FEASIBILITY]  (Read 768 times)
marcus_of_augustus
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February 19, 2012, 09:38:08 PM
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So I've been tossing around this idea for a while but have reached some blocks due to my own limitations in experience so would like to throw it out there to see if others can show a clear path, or demonstrate the totally wrong badness of the whole idea.

Simplified Model:

Set-up a website (or global system of localised sites) that performs as a global market place for web advertising where all trades are done using bitcoin.

Primary Rational:

One of the best ways to monetise web activity is web advertising, Webads. However, the payment model imposed by the current fractionated, localised banking systems means it is prohibitive to buy/sell Webads between localities, particularly for small sums, between small business Webad buyers and sellers of Webad space. Introducing an online (global) market place for Webads where the buyers and sellers can transact in bitcoins means global advertising audiences become much more easily available to buyers of Webads and sellers of Webad space can more easily reach a previously external market of Webad buyers outside of their locality.

Secondary reasons:

Account payment types for Webads already take many forms, http://en.wikipedia.org/wiki/Online_advertising, from Pay-per-click to monthly fixed amount payments. Bitcoin can easily accommodate most of these payment types without any additional expense of traditional banking systems. A successful Webad market will showcase bitcoin in the biggest performing Internet commerce space.

Discussion:

As always the devil is the details, presently I'm undecided exactly what the best business model for this on-line market would be, eg. something like a public marketplace, E-bay for Webads denominated in bitcoin, where the site takes a fixed fee (in bitcoin of course) for transactions that take place based on winning bids, or would it be best to set it up like a traditional advertising house where the clients all come in the Internet front door (email, web forms) and are then matched up with Webad space that suits there needs. My lack of experience in the marketing area holds me back from understanding the risk/rewards from the various approaches.

So if anybody would like to contribute ideas and opinions to flesh out the general proposal, it would be appreciated. I can provide the technical know-how on the technologies needed to integrate the bitcoin payment systems to evaluate the various business models. Basically I'd like to be able to accurately assess the feasibility of this idea to see if it is worth putting a venture together, and so am crowd-sourcing for brainstorms and/or qualified advice.

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