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Author Topic: Web Traffic For Bitcoins?  (Read 1094 times)
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May 02, 2011, 09:10:21 PM

Hey all, this is my first post to Bitcoin. I don't get who or what creates the value backing the currency but I am always interested in money theory so I would like to investigate using it on my website. I've launched a quite different web directory that is set up to broker web traffic from website to website.

It offers free advertising but also offers opportunity to bid to get in higher positions. I would like to accept Bitcoin as payment but am having a hard time wrapping my head around distributing it as commissions.

You see, my web directory can be installed on any number of websites. Each site therefore contributes traffic. Each site also gets to offer paid positions for sale so the value of that position increases because the web traffic is aggregated. I pay each site 50% of the ad fee each and every month for any paid ads they sell.

So I would have to have them agree to get paid in non-redeemable-for-cash BitCoins right? They could use them to buy traffic themselves or buy other Bitcoin products from other vendors. Does that sound like how Bitcoins could be used on my site?

Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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Garrett Burgwardt
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May 02, 2011, 09:15:33 PM

Well people do buy bitcoins with cash, so that's a way to get money out, but ideally yes they would keep money in the bitcoin economy to avoid exchange fees.

No single entity creates the value that backs the currency - it's all about the economy that backs it. Bitcoins is growing, and rather quickly. Do some reading on bitcoins, start on the wiki, it's fascinating stuff!
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May 02, 2011, 09:18:02 PM

That's right, there is no guarantee that a coin will be worth any particular number of dollars. The price floats according to what people are willing to pay, just like Australian dollars or the Euro or silver prices float against the dollar. The reason people pay for them is that they are easy to transfer, durable, and scarce.

If I were you I would start accepting Bitcoins as payment and offer the people you need to pay a small bonus (5%?) as an incentive to investigate. For anyone who doesn't want to you just sell some coins to pay them. Maybethe number of people buying from you and selling from you in coins will be roughly equal anyway.

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