The hardest part about building a business for Bitcoiners is the volatility.
This is obvious when we think about Bitcoin financial service businesses, but its true for any business that services Bitcoiners.
When the price is up, things are good and their customers show their insane loyalty.
But as soon as the price turns down, even around 10%, spending patterns change in a pretty major way.
Though they may still be up 100s of percent, Bitcoiners are humans who get used to the new normal of their higher net worth quickly.
Unfortunately this occurs at the same time as your bitcoin is lower in price and you are human, so you feel it even more.
Running a business for Bitcoiners is not for the faint of heart.
This is obvious when we think about Bitcoin financial service businesses, but its true for any business that services Bitcoiners.
When the price is up, things are good and their customers show their insane loyalty.
But as soon as the price turns down, even around 10%, spending patterns change in a pretty major way.
Though they may still be up 100s of percent, Bitcoiners are humans who get used to the new normal of their higher net worth quickly.
Unfortunately this occurs at the same time as your bitcoin is lower in price and you are human, so you feel it even more.
Running a business for Bitcoiners is not for the faint of heart.