Topic: Accepting Bitcoin for sales in a volatile market. - page 2. (Read 374 times)

I completely understand your quandary . I’ve been in similar situations myself and I don’t think there is a simple answer.
On a business level - do what you do best and what works for the business and your profits. Sell in FIAT , then convert to BTC here with a reputable member or on an exchange.
On the bitcoin side - we all want promotion of BTC to as many people as possible , but in the large scheme of things- bitcoin is a very small market and I do think you will alienate the majority of your clients. Sad but true.
Anyway, I’ll be watching this thread closely to see if a suitable solution arises. Thanks for starting this thread

Things worthy of note.

• Your customers
• Their Ability to adapt to volatility of Bitcoin price.
• Their Age grade
• The places they live in ( Would they be able to buy Bitcoin whenever they need your services?)
• Their security in your market place


Once these things are guaranteed, transacting with you upon launch of your sales website wouldn't be a herculean task to them. I would also suggest you add an automated BTC/USD conversions to enable them understand what and how much in fiat they are paying.

The problem is you don't want quote price with USD, so most probably you have to update product price in bitcoin within a specific time. Setting auto integration would problem during checkout. So you have to set an algorithm with a time limit of like 6 hours. Means if the price of Bitcoin falls within 6 hours then your product price will be increased, if the bitcoin price raise then the product price will be a drop in bitcoin. For that, you should mention your website for transparent deals. It would be automatically or manually as well. The idea of referring to this forum to know more about bitcoin is great. So your clients would learn more about bitcoin.

Nice idea. But bitcoin only want to be the primary payment method, not the whole payment method. Normally, Jet Cash should include fiat as it is normal. Also, he wants to include altcoins later. But, it will be good if bitcoin is the primary payment method, others should be alternatives.

Anything from 5 minutes to 5 years. I sold a name for Sterling in about 5 minutes over the phone. The buyer found my phone number through the registration information. That won't happen now, as names have privacy protection, but there is still a method of contact through emails. I've been negotiating the sale of another couple of names for over 3 years. I'm not to stressed about selling them, and the buyers don't want to pay my asking price. It costs less than $9 per year to keep them, so there is no pressure to sell.

I feel that I am missing out by not selling the names that I don't need, and I should have sold for Bitcoin when the price was around $3,000 or less. I don't need the money at the moment, but I feel that Bitcoin could more than double in value over the next 12 months, and that could be a conservative estimate. The names may not have a comparable rise in value, so it makes sense to boost my wallet savings whilst Bitcoin is going through a correction.

The real quandary is the possible opinion of the buyer. They could reject the whole concept of Bitcoin, especially in view of the reported frauds. One possibility is the use of an escrow service by a forum member. He could accept payment in fiat, and pay me in Bitcoin when the name has been transferred. I haven't seen a member offering such a service though. A registrar push is immediate, but a registrar transfer can take a few days to confirm the receipt in a buyers account. If it takes a week, that is a long time in crypto, and one would need to consider the possibility of price movements in Bitcoin during that period.

Volatility is one of the major drawback that makes it difficult to be used in accepting goods and services purchase. If you are accepting btc you will scare the customer away by quoting price higher just because you want to mitigate the price lost due to volatility. I will encourage you to make sure you only accepting certain percentage of the total cost in crypto while the customer can pay the rest using fiat currency. I believe anyone that want to use bitcoin to buy goods should have basic understanding of crypto. You may choose to redirect them to BTT in case you can't provide answer to their question

This is great, it will be a way for people to also know about bitcoin. Imo, I like the idea.

You are not new on the forum, and you know a lot about bitcoin, and how the price has been volatile and fluctuating since its adoption. I think you know better. But, imo, bitcoin is still in its early days of its adoption, you will not regret this. And it is the best cryptocurrencies  you can use for such as it is not a shitcoins like many altcoins.

I think both the ideas are good. Your experience will lead you to a way better. Trying the two is good.

This forum is for learning, asking question about bitcoin and other cryptocurrencies, there is nothing bad to refer people to this forum to learn.

The more you are into it, the more experience about it.

In my opinion if you sell something in BTC, you have to accept that there is always a fluctuation. Sometimes you will gain a bit and sometimes lose a bit from the volatility.
I don’t know how long it takes for you to sell domains, ie, from the initial advertisement to final sale - is this likely to be 1 week, 1 month ?

I'm going to revive my domain name sales business, and I want to offer Bitcoin as the primary payment method. I may expand this to allow some other altcoins in the future, but I want to stick with Bitcoin initially. The problem is pricing in a volatile market. I believe that Bitcoin is going through a correction at the moment, but will increase in value significantly towards the end of the year. Of course that is guesswork on my part, and it is subject to 20-30% volatility. So how so you decide on the price? If I believe a name is worth (say) £5,000, do I ask for 0.6 Bitcoin, or do I make an allowance for price drops or increases? I don't want to quote the price in US dollars or Sterling.

Another consideration is the fact that most buyers will not be experienced in Bitcoin. I'm thinking of suggesting that they join this forum so that they can ask any questions about Bitcoin, and I will give them my Jet Cash account name, so that they they can check on my credibility. So far I have only used Coinbase to buy Bitcoin, but I may provide another couple of exchanges to give them some choice. Do you think it is advisable to offer these recommendations, or should I let them find out for themselves on Bitcoin Talk?

I'm also a long term member of a domain dealers forum, but I don't want to suggest that as a source of information, as that tends to lead them into trying to buy names at trade prices, and I am not desperate to sell at the moment. I've also got a number of crypto names, and I'll probably offer those for sale in the market place here, although I haven't had much success there.