Topic: Beefjerky.com: Selling Fresh Beef Jerky for Bitcoins, Shipping to +100 Countries (Read 6230 times)

Eating my jerky now... and it's gooooood! 

I will buy more soon (if they still accept bitcoin)!

I have an idea for merchants who are highly sensitive to the BTC/USD exchange rate. It involves using the mtgox merchant services to accept BTC payments and then immediately executing a sell order for the received BTC. Unfortunately this isn't really doable when you use a third party shopping cart like e-junkie.

It's a learning experience for everybody.  If you look at the current exchange rate you'll see that  1.23 btc is currently worth almost $30 again.  Just think of it as 1 lost customer for the cost of not properly doing your research before offering the deal.

It worked out in the end for me though.  I bought that 1.23btc from Mt. Gox at about 17.50 eachb, I have a sell order at 29.90 that I expect to go through tomorrow evening.

Yes, I decided to back out of the deal with Tito.

I quoted him a price originally that was out of date.  I offered the same deal I got earlier the same day, 1.23 BTC for a pound of jerky, the exchange rate was USD24.79:1 BTC

That was my first mistake, because at that moment when I quoted him, Bitcoins had already dropped to USD17:1BTC, and I did not check the exchange rates before quoting to him.

By the time he actually paid, it had dropped to USD15.60:1BTC, or $19.19 for a pound of jerky, that normally sells for $30.48.  That was when I made my next mistake, when I offered to refund Tito's coin instead selling jerky below my cost.

My take on this experiment is never quote an old price, and make sure the customer pays promptly after the agreement, within an hour or two, or the agreement is no longer valid.  Also, never publicly post or publish a Bitcoin address to accept payment for a product, because the exchange rates are just too volatile for a static or standing offer to sell anything.

I did look at Tito's suggestion, mybitcoin.com and their merchant services.  This does seem like a good solution to the problem Tito and I experienced.  It automatically updates the agreed BTC price in relation to the currency exchange rates.

I expected Tito to post on here about his experience with my business, Beefjerky.com.  He has been fair and reasonable about what happened.  Yes, in retrospect, I should have gone through with the deal, and I apologize to Tito for backing out.


Cheers!
Greg

I doubt it.  Greg has his name on the site, and his email is [email protected]

On 2nd thought, he might be an individual middleman, not the actual owner/manager of the store,
(just like the other amazon.com buying service) trying to make a few coins while it's booming.

EDIT: oh wait, just saw his Email addy in the OP... ya he's the owner/admin.
Now if I ever bought anything from his store, and BTC price rises up in a week, I should expect him to send me a few more bags

I got my coins back.  He was very prompt with the refund.

I'm just slightly pissed because I bought those coins from Mt. Gox, and at the time they cost me $26.  So now I have to wait for another price rebound or I'm out money.

So, did you get your coins back? or did he canceled the order before you could send any?
Maybe the OP will revive your order now that the price has gone up to 20+

But yeah, I totally agree with you on OP blew his chance at getting many more potential customers, me included. I'm a big jerky fan and I spend tons of cash on my trusty Oberto.

Honestly I would never bought anything from his site with my cash, but for a few coins, why not?
I was eyeing on this thread closely and I see this. Seriously he should've taken that $10 loss.

Damn, that's not exactly a customer-friendly business practice.

Was thinking about trying out a few bags but probably not from this company, no matter how world-famous.

I will admit that it took me longer than expected to remit payment, but that was only because by the time he had replied to me in PM I had already left for work and had no access to my wallet.dat file.

It's just another business person who saw a way to get new customers.  He knows that there are those who will buy products with bitcoins even if they would not normally buy them with cash.  It's neat to part of a revolution, and people try to cash in on those who are trying to spread the adoption of its use.

When he saw the potential for losing money he retreated faster than a frenchman on Tuesday.

I have informed him of mybitcoin.com and their merchant services, that way a rate is not locked in until a person commits to buy and sends the coins.  I personally will not be buying from this merchant in the future, but I hope my bad experiences don't sour others to his store.

Well, I certainly wouldn't buy from them now. If you offer a price and it is payed, you're locked in my friend.

And this is the problem with merchants trying to take BTC as payment for goods they value in USD.  Beefjerky.com set a price for 2 8oz packages of beef jerky and then backed out when the "worth" of BTC plummeted after the speculative bubble burst.

Until people are willing to accept BTC at a rate other than one tied to the exchange rate for USD the marketplace will never catch on.

For those wondering.  OP offered me a price of 1.23BTC for 2 8oz packages of beef jerky shipped.  I paid agreed price after I got home from work.  OP noticed the price falling and canceled the order.

Great business practices all around 

Tito - - I sent a PM to you on this transaction.

I truly am a beef jerky connoisseur.  Our house routinely goes through 4-5 pounds per month, so this could work out well.  Your prices are a little more than I am used to paying, but hopefully the quality makes up for that.  I'm getting sick of getting bags with only half of the pieces being edible, thankfully the dog will eat anything so that extra doesn't go to waste.

I'll be sure to leave a review when I receive it.  I look forward to sitting on the patio with a nice cold summer wheat and some of the honey teriyaki jerky.

I am so trying this!

E-mail sent!

Thank you, Tito - - PM Sent. 

Please tell your Bitcoin friends and associates about Beefjerky.com.

Check your PM.  I accepted that rate and sent you name/address.  Just need a wallet address to pay to.

I sold 2 bags earlier today for 1.23BTC.  I'd go with that exchange rate for you.  Thanks for asking.

don't forget to put your offer up on forbitcoin.com to increase the chance of getting sales =)

People are hoarding Bitcoins right now because of the near constant upwards swing in exchange rate.  I am willing to offer 1BTC for 2 8oz packages shipped to a United States residential address.

If this is acceptable please let me know.