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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel
This is equivalent to $0.0867167 at today’s exchange rate. Not too bad - paying $1 a year for email to avoid spam. Why would this eliminate spam you ask? Well imagine that a spammer needing to pay for 100,000 emails a day - this will cost him $1000 each year. Suddenly email spam takes a toll and isn’t free to abuse as it is today. Video. Applications that eliminate video advertising by charging a small BTC amount for the time viewed. Crowdfunding. Global crowdfunding applications that allow project creators to raise funds easily from around the world using Bitcoin. Payouts. Applications that allow creators or service providers to get paid by a global audience. ChangeTip is a great example of how people can tip Bitcoin to Internet users who helped them out. Remittances. One of the hottest industries Bitcoin is trying to disrupt. Through Bitcoin you can create applications that enable worldwide, cross-border payments. Many Bitcoin startups are basically trying to “bank the unbanked”. Ecommerce. Bitcoin focused merchant directories that offer a beautiful UI for consumers. Identity. Applications that give people control of their own identity (without the need of a 3rd party like the government).
Attribution. Applications that allow users to prove ownership of assets. Voting. Blockchain-based tech is already being used in elections throughout the web. This way you know your vote was counted while still keeping your anonymity. The advantages of creating a Bitcoin 2.0 business are that you are inside a blue ocean - meaning there’s little competition (no sharks, unlike a red ocean) and also this is definitely the place the industry is headed. Probably not all of what I’ve written here makes sense to you and that’s OK. Heck, it doesn’t even all make sense to me sometimes. You don’t need to be an expert on Bitcoin; you just need to understand the basics of where the industry is headed so you can choose your Bitcoin business idea more wisely. One of the best sources that consolidates all the Bitcoin industry’s information is Coindesk’s state of Bitcoin report. This report comes out once a quarter (every three months) and sums up everything nicely. A lot of the data brought here is from that report. So make sure to sign up for report updates and keep your finger on the pulse of the Bitcoin industry. What business opportunities lie within the Bitcoin 1.0 industry? Since Bitcoin came to public awareness in late 2013 (when the price spiked to around $1200 for one Bitcoin) a lot of new Bitcoin businesses started to show up.
This Bitcoin boom brought in new opportunities; now not only can you open a new Bitcoin business that caters the demand of the general public who all of a sudden is interested in Bitcoin, but also you can cater those exact same Bitcoin businesses that came about in 2014. Simply put, two new markets have emerged: The consumer Bitcoin market and the Bitcoin businesses market. So when I say the consumer Bitcoin market I mean the market in which you will open a Bitcoin exchange business, or a Bitcoin wallet business and your customers will be mainly consumers. This is also known as B2C - Business to Consumer. When I talk about the Bitcoin business market I’m talking about supplying leads to Bitcoin businesses and getting paid for bringing them new customers. This is known as B2B - Business to Business. Most people tend to focus on the first market; I made most of my profits from focusing on the second. The difference is that while the Bitcoin B2C market is larger it has way too much competition, and if you don’t have a good market penetration strategy it’s going to be hard to gain customers. The Bitcoin B2B market on the other hand has almost no competition, mainly due to the fact that it’s smaller. But it’s still large enough to be able to profit from. In this book I’m going to cover marketing tactics that will fit both markets so don’t worry, it will be totally up to you to decide which market you’d like to focus on.
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