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21 sats \ 9 replies \ @Solomonsatoshi 9 Oct \ on: I couldn’t buy it, so I just made it bitcoin
You have omitted providing your asking price.
It always worried me when people do that.
How much do you charge for a set?
Being in Thailand I assume you are unable to accept Bitcoin as payment since they banned MoE use of Bitcoin?
Understand totally your experience getting things fabricated in China more easily rather than Thailand - they are generally the best for this - I have previously tried Thai and Indian manufacturers for various custom design products but China is almost always far more responsive and cost competitive for custom production runs.
You have omitted providing your asking price. It always worried me when people do that. How much do you charge for a set?
Fair question.
The launch price is $55.
Being in Thailand I assume you are unable to accept Bitcoin as payment since they banned MoE use of Bitcoin?
You're right, businesses aren't supposed to accept Bitcoin as payment in Thailand.
So I'm reframing it: Seed Keys is now a support-based project, not a store.
You contribute in BTC, I ship a kit.
In the meantime, I’ll finally set up a fiat payment gateway, and jump through all the KYC loops.
Not ideal. But if it helps more people secure their keys, fine.
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Good on you.
Where there is a will there are ways around these things.
Despite the official ban on BTC MoE I still found some brave restaurants in ChiangMai who accept LN/BTC regardless.
They were all far better than average in their food and service.
Some of the regions in Thailand still exercise some degree of autonomy from the BKK central governments dictates- tourism is so important to ChiangMai not accepting Bitcoin is a huge loss of potential business opportunities.
When traveling these days I will give BTC accepting food and hospo business preference as they are usually well above average.
Thailand was once leading the world in BTC adoption but the government crackdown since the latest military hijacking of democracy limited what was a huge opportunity to grow a Bitcoin based enterprise sector.
I hear the government attitude is now moving back toward accepting more Bitcoin use but it still has some way to go before the full potential can be realised.
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Yes I did not find much in the way of retailers accepting sats in BKK last year but in Chiang Mai there was few good bars and restaurants.
Apparently also some tourist spots down south the government have allowed 'sandbox' trials where some tourist facing retailers can accept sats but the retailer must use an application that immediately converts the sats to baht and so does not receive the sats - preventing a circular economy developing and threatening the baht.
Have heard today a bit of a run on some Thai banks as people buy gold and ditch baht.
Yes would be good to learn more about the Bangkok BTC scene- if the government does eventually liberalise it could be a world centre of Bitcoin imo.
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The price is on their shop. https://seedkeys.xyz/ The price I see is $55
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Yes I saw that after following the link.
Would have preferred it being included in the post, but all good.
Would be surprised if cost of production is more than $5 but if shipping is included maybe its ok.
However could just stamp seed phrase on a plate of s/s and put it in an envelope or rivet two sheets together if you wanted to use this method.
The cable tie is hardly secure if the item falls into the wrong hands.
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Thanks for all the feedback.
I wish it was $5 too. Someday, maybe, if scale brings costs down. For now, it’s small batches. So the price is still a work in progress.
And yes, you can DIY it. I even wrote a guide: https://seedkeys.xyz/diy-seed-phrase-storage/
Seed Keys is just one option for those who want everything out of the box.
The cable ties aren’t to make the set tamper-proof, They're seals to make it tamper-evident. If they're broken, you know someone got in.
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Fair enough- its a question of scale for sure - if you can get the retail price down scale might increase but its got to be getting a return for your time and investment.
$55 is not too bad but $21 (+P&P) would be a nice symbolic figure to try for and would provide strong resistance against copycat vendors.
Beware of Chinese suppliers who will watch what you are doing and then under cut you with knock offs if they see any opportunity...this is a large part of the strategy by which they have come to dominate global supply chains...
'Country Driving' written by Peter Hessler is a book I strongly recommend for anyone interested in or involved in the Chinese economy especially if actively trading.