So we (Marketing) just got a off a Skype conference call with the Dev team.
Lots of awesome things came out of it, and I am now more excited than ever about BTS. However I wanted to share one very cool thing that excited me.
First the background. I have spoken to many companies about accepting bitcoin. The first objection I get is volatility and companies like bitpay have solved that problem. The second objection I get is there is no ability for continuity payments. All businesses built on the subscription model cannot "play" with bitcoin. Because bitcoin is volatile a subscription of $10 per month may be 0.1 bitcoin this month and 0.05 bitcoin teh moth after.
With the stability of bitUSD this concern is no longer there. After talking to BM we discovered continuity payments are actually low hanging fruit for the developers. It could be ready to go in a week or so if it were focused on. And since customers have stability of currency with bitUSD in their wallet, they would be fine to leave a large chunk in their wallet, earning interest and they can control on the client side what subscriptions they have enabled or not.
Enter the world of high risk merchants. As an example the Adult industry have to suffer merchant fees as high as 25% on successful transactions and chargebacks and other fees are exorbitant. It is a reality that over 40% of their revenues go to the merchant provider.
The industry is ripe for the picking for bitcoin.... except one thing. It is built on continuity payments. Membership to porn site XYZ for $4.99 a month.
It would make total sense for them to accept bitUSD as a payment and offer a discount of up to 40% for using it. That could seriously motivate customers to click the link next to the payment option "What is bitUSD" and get a few. Plus their payment would be private
Consumer side motivation to use crypto is what has been sorely lacking for bitcoin because a 2% discount on purchases is not enough of an incentive... but 20-40% might be. That is why bitcoin has had good penetration into the gambling industry. It does not depend on continuity payments.
The porn industry jumped to mind but here is more complete list of high risk merchant industries.https://www.e-onlinedata.com/Merchant_Services/Internet_Merchant/authorize.net/Prohibited.aspx
Which ones have not had good penetration with bitcoin because they rely on continuity payments? Each one is a market that we can attack, with no competition from any other crypto.
Of course we would not brand ourselves as "dancer dollars." But through some strategic relationship with this industry it could be a great "viral insertion point" as MethodX would say. A place to get bitUSD in lots of peoples hands. Once we do that, the rest is easy.
Thoughts, brainstorming, industry knowledge and contacts are much appreciated.