I love bitcoin, but it seems people don't want to spend something they think is going up in value. Gresham's Law and what not.
People complain that there is nothing you can buy with bitcoin, well now you can buy almost anything with bitcoin but people don't want to spend them except to trade them for fiat.
bitcoin-only merchants might have to start accepting credit cards and paypal if they want to actually sell things, and just use the fact that they accept bitcoin as a marketing gimmick.
Topic: Attn: People who buy stuff with bitcoins (Read 2767 times)
I'm selling an Iphone4 and an HD 5970, but I've tried selling other things in the past like Jtaged Xbox 360s and even drugs. The only thing that sold was the drugs. Someone posted here that it's hard to get bitcoins, so I figure that until it's easy to buy them, you won't be able to get a fair price for your goods.
We need to make $ to BTC conversions much much quicker and easier. Lot's of people messaged me and were interested in buying my Jtag, but when I said I only accepted bitcoin all I heard were crickets chirping.
Nobody who puts the time into converting their cash into bitcoin is going to let them go for regular money. The difficulty in obtaining them is why they have a premium.
Wanna thank you guys for helping me see that and put it into perspective.
Still though, I'm willing to get fucked in the ass a little bit, I'm not completely unreasonable.
We need to make $ to BTC conversions much much quicker and easier. Lot's of people messaged me and were interested in buying my Jtag, but when I said I only accepted bitcoin all I heard were crickets chirping.
Nobody who puts the time into converting their cash into bitcoin is going to let them go for regular money. The difficulty in obtaining them is why they have a premium.
Wanna thank you guys for helping me see that and put it into perspective.
Still though, I'm willing to get fucked in the ass a little bit, I'm not completely unreasonable.
I buy things with bitcoin. Then I buy bitcoins with the fiat I would have spent. What are you offering? Is the price fair (I'll pay 5% more to support bitcoin, but not much more)? Are you listed on the trade page on the wiki? Most of the users are new at this point, and many of them see this as merely an investment. Hopefully, they catch on and join the rest of us in building a functional economy. I don't have much to spare, so most of my bitcoins are spent on necessities, but there are quite a few people in this community that can afford to increase the value of their holdings by supporting bitcoin merchants.
Its because they are pricing in the volatility.
We also have to consider what you are selling. I am beginning to think the problem isn't people don't want to buy stuff with BTC. Maybe our community isn't large to offer enough of the things people want to buy.
I'd agree with that. At least on ebay I can pit the whole world against itself. What do you guys think it would take to close the gap?
To close the gap, there needs to be a specific purpose for using BTC. A tentpole application. This app has to be FUN.
I say this, alot.. but I think there needs to be a game, in which the economy is based around BTC. The game would serve as stabilization tool for the BTC economy.
Imagine if there was a Second Life, Civilaztion type game where you can earn BTC based on skill. This would accomplish three things:
1) Remove the barrier for entry for using BTC- Reglar people will begin using it without thinking about the technical and political baggage.
2) Stabalize the economy- There will always be a place where BTC has a use, and a basis from which to determine value.
3) Encourage exchange instead of investing - People will see value in spending BTC, as opposed to hoarding it. Spending in game (investing) earns coins faster than waiting for the price to go up
Spending BTC outside of the game, on products like yours, will be an added bonus to using the currency.
tldr - There needs to be a specific use for BTC. This will help real world retailers
Excellent suggestion. I'd never seen 2nd Life before trying to buy BTC and getting linden to exchange, but seems they have serious economic activity internal to that game. Lots of virtual stuff to buy, and the boundary between the virtual and the real seems awfully hazy in there.
To close the gap, there needs to be a specific purpose for using BTC. A tentpole application. This app has to be FUN.
I say this, alot.. but I think there needs to be a game, in which the economy is based around BTC. The game would serve as stabilization tool for the BTC economy.
Imagine if there was a Second Life, Civilaztion type game where you can earn BTC based on skill. This would accomplish three things:
1) Remove the barrier for entry for using BTC- Reglar people will begin using it without thinking about the technical and political baggage.
2) Stabalize the economy- There will always be a place where BTC has a use, and a basis from which to determine value.
3) Encourage exchange instead of investing - People will see value in spending BTC, as opposed to hoarding it. Spending in game (investing) earns coins faster than waiting for the price to go up
Spending BTC outside of the game, on products like yours, will be an added bonus to using the currency.
tldr - There needs to be a specific use for BTC. This will help real world retailers
Me, Kiba, and some others looked into this: http://bitcoin-gamedev.sourceforge.net/I say this, alot.. but I think there needs to be a game, in which the economy is based around BTC. The game would serve as stabilization tool for the BTC economy.
Imagine if there was a Second Life, Civilaztion type game where you can earn BTC based on skill. This would accomplish three things:
1) Remove the barrier for entry for using BTC- Reglar people will begin using it without thinking about the technical and political baggage.
2) Stabalize the economy- There will always be a place where BTC has a use, and a basis from which to determine value.
3) Encourage exchange instead of investing - People will see value in spending BTC, as opposed to hoarding it. Spending in game (investing) earns coins faster than waiting for the price to go up
Spending BTC outside of the game, on products like yours, will be an added bonus to using the currency.
tldr - There needs to be a specific use for BTC. This will help real world retailers
It's stalled for now but any new ideas would be awesome.
Well I must say as the seller that I have pretty good demand for my goods here.
I think it's not only "deflation thing" but more factors: your product + price
I think it's not only "deflation thing" but more factors: your product + price
I couldn't agree right now a bitcoin is worth 15$ so don't treat it like its worth 20$ or even 30$. I wonder though how merchants will update their prices based on bitcoin exchange fluctuation.
I treat half my bitcoins like they're worth $100, coz I'm keeping them for the long term.
I'm in the process of buying something quite tangible for $1,500+ in BitCoins.
We also have to consider what you are selling. I am beginning to think the problem isn't people don't want to buy stuff with BTC. Maybe our community isn't large to offer enough of the things people want to buy.
I'd agree with that. At least on ebay I can pit the whole world against itself. What do you guys think it would take to close the gap?
For me, liquidity.
I don't do much online shopping in the first place. But I like bitcoins. If I could replace my stash fairly easily and quickly, I'd actually be on the lookout for opportunities to buy what I need online in bitcoins. My first purchase of bitcoins was ridiculously slow, even though it was via money order (who waits for those things to clear?) I immediately looked for a faster alternative. Fortunately, bitcoinexchange.cc exchanges bitcoins for MoneyPak codes, and I used their service a few times afterward. It's convenient, enough that spending my bitcoins is a possibility now, but still.
I guess what I really want is a little stand in the mall where I go and pay cash, and they send me bitcoins immediately. I know, I want a whole lot, and right now, but I'm just saying. That might actually get me to stop being so miserly with them and to spend bitcoins like I do cash.
I understand the OP's frustration, though.
Could you post a link to your website?
delete
We also have to consider what you are selling. I am beginning to think the problem isn't people don't want to buy stuff with BTC. Maybe our community isn't large to offer enough of the things people want to buy.
I'd agree with that. At least on ebay I can pit the whole world against itself. What do you guys think it would take to close the gap?
To close the gap, there needs to be a specific purpose for using BTC. A tentpole application. This app has to be FUN.
I say this, alot.. but I think there needs to be a game, in which the economy is based around BTC. The game would serve as stabilization tool for the BTC economy.
Imagine if there was a Second Life, Civilaztion type game where you can earn BTC based on skill. This would accomplish three things:
1) Remove the barrier for entry for using BTC- Reglar people will begin using it without thinking about the technical and political baggage.
2) Stabalize the economy- There will always be a place where BTC has a use, and a basis from which to determine value.
3) Encourage exchange instead of investing - People will see value in spending BTC, as opposed to hoarding it. Spending in game (investing) earns coins faster than waiting for the price to go up
Spending BTC outside of the game, on products like yours, will be an added bonus to using the currency.
tldr - There needs to be a specific use for BTC. This will help real world retailers
No bad experience. Just nobody wants to buy my stuff at prices comparable with the exact product on ebay. That's my own personal gripe. Other than that I don't see how we can get fresh blood involved if they have to get screwed on a transaction just to get their feet wet.
How about linking to it, now that you have people's attention?
totally agree here.. have yet to conclude a transactoin in bitcoins, either total lowball offer, or they're scared i'm a scammer.
also alot of agreeing then they change their mind at the last second, and just general wasting time.
for some reason shipping is expected to be paid for by the seller too even tho this is not the case in any other transaction, and usually to some weird place in europe or a cult in montana or some weird ass shit.
also alot of agreeing then they change their mind at the last second, and just general wasting time.
for some reason shipping is expected to be paid for by the seller too even tho this is not the case in any other transaction, and usually to some weird place in europe or a cult in montana or some weird ass shit.
We also have to consider what you are selling. I am beginning to think the problem isn't people don't want to buy stuff with BTC. Maybe our community isn't large to offer enough of the things people want to buy.
I'd agree with that. At least on ebay I can pit the whole world against itself. What do you guys think it would take to close the gap?
We also have to consider what you are selling. I am beginning to think the problem isn't people don't want to buy stuff with BTC. Maybe our community isn't large to offer enough of the things people want to buy.
What is a 15 dollar bitcoin and where do you get them?
Last price at trade hill at the time of writing this is 15.29. MTGox is dead, tradehill sets the price for now.
No bad experience. Just nobody wants to buy my stuff at prices comparable with the exact product on ebay. That's my own personal gripe. Other than that I don't see how we can get fresh blood involved if they have to get screwed on a transaction just to get their feet wet.
What is a 15 dollar bitcoin and where do you get them?
lol, care to share a bad experience with some merchants/customers?
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