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28 sats \ 2 replies \ @denlillaapan 24 Nov \ on: Pricing in BTC bitcoin
Some people are more UoA maximalists and pick a bitcoin price (e.g., 10m sats) and stick with it. Probably not sustainable since it makes their products more and more expensive in USD terms over time.
What's worse, I've found, is what happens when the transaction isn't spot: say I do some work for a client beginning on Jan 1, when BTC/USD = 100k. Then I finish the work and ask for payment on Jan 30, when BTC/USD = 120k. At which rate (USD or sats) does the dude pay me?
Worse still: I did a job for a guy a few years ago where he'd pay me half by finish and half by end of year. When he paid me first, BTC was ~40k. When he paid me second it was like 20k or something.
These sort of merchant-customer, client-employer relations get weird.
Worse still: I did a job for a guy a few years ago where he'd pay me half by finish and half by end of year. When he paid me first, BTC was ~40k. When he paid me second it was like 20k or something.
It's all about the width of your margins.
If he had paid you all at once, you'd still have gotten the same sat amount, so unless you have to spend those sats to pay your fiat bills I don't see a problem here.
The trick is to have enough fiat cash flow to meet your fiat liabilities, then everything above that you can store in sats and not worry above their fiat value.
Wide margins allow you to lower your time preference.
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Exactly. If the business accepted Bitcoin exclusively, then there would probably be some fiat bills to pay. Therefore trading it for local currency would be necessary ar one point or another.
I would think adjusting to prices to market value would be necessary to stay competitive.
If coffee is 2000 sats then I might whip out my lightning wallet today and buy one. But if the price jumps 50% in two weeks and the coffee shop hasn't adjusted their proces then I'll more likely walk down the street and get a fiat coffee, holding on to my 2000 sats.
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