Oddbean new post about login | logout I'm thinking a lot about just putting my prices in $ like a normal person. It wasn't that bad in a bear/crab market but I'm not crazy enough to think I can keep up in a bull market. Maybe next cycle but not this one. But there's something I find so beautiful in using Bitcoin as unit of account. I'm not doing it because it's practical I'm doing it for the art of it.
So much love for your art my friend
I was talking with nostr:nprofile1qqs0fk6jwz7ejxchh6s7d5p473w7uwffr8pfga9m4sgrgtfz836wp5qpz9mhxue69uhkummnw3ezuamfdejj7qgwwaehxw309ahx7uewd3hkctcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhswjcp8m about this very thing earlier today... I would vote for keeping your prices in sats, you can always put stuff on sale if you wish
I feel kind of uncomfortable to call it a sale when I'm just putting it back down at the original $ price you know? It kind of feel ungenuine. But idk maybe not.
So far I've been reducing my prices here and there on stuff without calling it a sale.
For now I just lowered all the prices by 10% and put free shipping because at this time my paintings were getting overpriced.
That's a really good idea. The price of Bitcoin has made it so shipping is now free. I might use this at some point. At least for north America.
I, too, was thinking of putting prices in fiat, but on reflection I feel I am betraying not only my ideals but also those who have so far appreciated my art to the point of buying it in bitcoin.
Exactly
I price my art in silver. This keeps me from having to constantly modify prices while protecting my value against debasement at the same time. Bitcoin is too undervalued to use for pricing goods and services. And people can still pay me the bitcoin equivalent.
You are probably the only person on earth to do this. At least it's the first time I see someone do it. Cheers to that.
You could just price in Bitcoin and your customers would continually get cheaper prices... You don't have to make this more complex than it is.
We're talking unit of account. If you price in Bitcoin your customers get higher and higher prices. Well, that's if you look at it from a fiat perspective. In reality it cost the same amount of money. 50k sats.
No, of Bitcoin is your unit of account, your prices will continue to adjust down.... You don't price at 50k and keep it there forever. It goes to 40 then 30 and so on. You will always have to adjust pricing no matter you UoA as technology is naturally deflationary.
That is if you are a shitcoin. Sure, right now it's impossible to keep up because Bitcoin is too new. But if we were 200 years in the future and Bitcoin was widely adopted, it's value would be considered stable. Maybe a 2% raise year over year. I think many people in that case would be capable of taking 2% value year over year and keep their prices stable. That wouldn't work for commodities, but if we were fully hyperbitcoinzed right now, I think companies like Hermès would keep their prices stable in Bitcoin instead of adjusting their prices for inflation. But yeah, right now we find ourselves to have to adjust prices. And not just 1 time a year. But that's what we meant. We have to do it manually or else our prices, in fiat, are going up.
$
Don’t drop prices if sales are not dropping. Bitcoin said that the product is worth more now.
I don't make enough sales to really measure it that way.
On another note, of I ever have a big enough stack, I want to open a brick and mortar Bitcoin store. At that point I will absolutely be reaching out to you to stock your leather in my store.
Omg, yes.
Don't hold your breath. I think I want to wait to a million to be comfortable doing it. I could probably do at 500k though. Maybe 4-5 years.
I'll be here and better :)
I want to offer a combination of Bitcoin hardware, fine craftsmanship and homemade goods from Bitcoiners and education courses. Along with a club and membership with bar access for members.
That's beautiful. Imo, a Bitcoin store should seek the best products. There won't be 10000 clients but when they come they'll be high value. Fine goods like leather, Perfumes, whiskey, wine, watches and Cigars.
I'll definitely be stocking some Peony Lane Wine as well. nostr:nprofile1qqs2gndun24r2utk5l20tscsdprw5zttvm0qk58w8xhl2ja2kmzt7jcpremhxue69uhkummnw3ez6er9wch8wetvd3hhyer9wghxuet59uq36amnwvaz7tmjv4kxz7fwvf5hgcnvda3kkcn0dakjucm0d5hsz8nhwden5te0dehhxarj94c82c3wwajkcmr0wfjx2u3wdejhgtcttvhk5 I gotta find a Bitcoin Cigar roller and Whiskey maker too.
There's a cigar guy on Twitter. 21cigar I think.
oh shit. that's awesome. I should get some. have you tried?
Couldn't. They didn't ship outside the US at the time and probably still don't.
damn
I think most bitcoiners would be good seeing prices in dollars and paying in bitcoin for now. @BenJustman seems to have cracked some of the code going with “bitcoin preferred” for his wine. Either way, your stuff looks nice!
Yeah he's doing great. For the price It's an ideal I was following and would still would like to follow but it's inconvenient. I don't need a bigger market than Bitcoin to succeed so Bitcoin only is not much of a problem on my side and I don't really want to receive payments in my bank account. The idea is to unbanned myself as much as possible.