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Paying in UK pound sterling - minimum bid 4p (7 cents). Thus for every 1000 'minimum bid' clicks I'm paying in UK pounds, I'm paying $20 more than the guy paying in US dollars. Scale it up to 50,000 clicks per month, I'm paying $1000 more per month. This assumes I'm getting 50,000 'minimum bid' clicks per month.
So are you folks who are targeting UK markets paying in UK pounds, or are you paying in US dollars?
I guess it depends on how many low CPC clicks you have.