Is it possible to use BTC and USD for pricing at the same time? - page 2.

Lakai01

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Quote from: defi-Dany on July 21, 2021, 12:26:25 AM

Currently, Bitcoin pricing is more difficult to achieve because of too much volatility.

As if volatility has ever been lower? Roll Eyes

Just look at older price trends from 2013, for example, even then such fluctuations as we are currently experiencing were completely normal. The bitcoin price reacts much more strongly to news than for example stocks (and is also much more obviously manipulated), which of course contributes very strongly to volatility, but has never been different.

defi-Dany

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Currently, Bitcoin pricing is more difficult to achieve because of too much volatility.

Darker45

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I guess it is premature to the huge majority of shops and stores to price their products and services in Bitcoin. There's too high a volatility for a business to peg prices in Bitcoin. Of course, there are others who prefer to earn in Bitcoin, but that's a special preference which probably goes beyond the fact that the price fluctuates too much. The reason might simply be to raise Bitcoin regardless if such would mean deficit.

Also, if a business has the ability to absorb Bitcoin's temporary price decrease and spend in fiat while hodling the income in Bitcoin until the price recovers and makes gain, that would be nice. There's profit in business as well as in Bitcoin's price increase.

Kiley33

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Quote from: mk4 on July 20, 2021, 10:45:32 PM

Whether we like it or not, bitcoin is simply not THAT big yet for merchants to be pricing their stuff in bitcoin. It just makes a lot more sense to be pricing things in USD at least for now because the USD is still the sort of "main" most widely adopted currency of the world.

Items are priced in U.S. dollars and paid in Bitcoin, but commodity prices can still fluctuate. If the price range of the US dollar is not very large, it should be possible to use the US dollar as the benchmark first.

ranochigo

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Quote from: Kiley33 on July 20, 2021, 10:19:52 PM

What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

Let's say I price my products at 0.1BTC and the current cost of 0.1BTC when compared to fiat is about $3000, but the actual product only costs $50. Would people still want to buy it?

Using fiat as a comparison to BTC will always be the case so long as there isn't a barrier to exchanging fiat to BTC or vice versa. People will always compare BTC to fiat as it is the de facto currency used by most people and it doesn't make sense to over-price your product just to maintain that 1BTC = 1BTC. You can easily compare the value of the product and assert that it isn't worth 0.1BTC, more like 0.0015BTC instead. As there is no price parity, no one would ever purchase something that overpriced.

Bttzed03

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https://bitcoincleanup.com/

Hats off to merchants who uses bitcoin valuation but we aren't at that stage yet where goods and services are priced in BTC and not in fiat. I do not even know if that time will ever come. Most people still prefer convenience over techs that they might find complicated.

mk4

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Whether we like it or not, bitcoin is simply not THAT big yet for merchants to be pricing their stuff in bitcoin. It just makes a lot more sense to be pricing things in USD at least for now because the USD is still the sort of "main" most widely adopted currency of the world.

pooya87

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You should visit a country with hyperinflation and you will get your answer.
Imagine in Venezuela you want to price something in bolivar, it can be worth a certain amount today and another higher amount tomorrow. Nobody sells their product at a "fixed price" in Venezuela simply because their currency value is volatile, in this case declining. One could use a more "stable" currency like USD to price everything and give a variable value in VES but that also doesn't mean bolivar is priced in US dollars and can only be purchased by it!

It is the same with bitcoin, since its price is volatile (in this case rising most of the times) people use another more common currency to set the price specially since they already use that currency. For example in Japan the shop would set the price in JPY and you pay a variable amount of bitcoin depending on the price at that time.

In other words 1BTC=1BTC does not also mean 1BTC=1product.

Kiley33

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I want everyone to think about this question, what is the target of payment with Bitcoin. Dollars? Or Bitcoin? I think if you use Bitcoin to pay. So no matter what the value of the dollar, companies should sell their products at a fixed price.
for example
USD: Once Musk sold Tesla to use Bitcoin for payment, but when Bitcoin fluctuated, the payment was different, and later the Bitcoin payment was cancelled.
BTC: I know ognasty's fan site https://nastyfans.org/mint. In the website, the price of 1BTC=1BTC will not change. No matter when the product is, the price will not change.
If the number of bitcoins fluctuates with the U.S. dollar, it still means that they are priced in U.S. dollars and can only be purchased through Bitcoin.
What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

Topic: Is it possible to use BTC and USD for pricing at the same time? - page 2. (Read 265 times)