Topic: Pricing everyday items in SATs - page 2. (Read 495 times)
I was to say is going to be difficult to understand and interpreted to the customer's understanding but it can start from somewhere. Things are not learnt in just a day, if the process starts, then more people will key into it and it goes on like that till a huge adoption starts. Since some cryptocurrency are also being used to purchase products already.
if we can have items priced in lesser denomination in fiat then it is equally right to have items priced in SATs as well, i would prefer SATs than mbtc to be honest that confuse me alot, for example, it is very easy to say i paid 10sats for this book" 
am sure even the none crypto users will find this easy as well.
am sure even the none crypto users will find this easy as well. What's the problem if we use both bitcoin and Satoshi? As well as both dollar and cents that are used simultaneously.
We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
This is actually the better approach for me. The option to price more valuable products in BTC instead of thousands/millions of Satoshis wasn't mentioned in the OP that's why many don't agree. We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
My only quandary is that would you mentioned both in the same number i.e. 27 BTC 9700 SAT or would it be easier to use the long-form 27.0000097 BTC?
Does anyone know of a site that prices everyday goods in BTC or SAT?
What's the problem if we use both bitcoin and Satoshi? As well as both dollar and cents that are used simultaneously.
We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
This is actually the better approach for me. The option to price more valuable products in BTC instead of thousands/millions of Satoshis wasn't mentioned in the OP that's why many don't agree. We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
As i know its forbiden to make price tags in other currencies in every country
I don't know if that's true or not, but in reality we're so far away from pricing things in terms of bitcoin that it's a moot point. However, for the sake of this discussion I completely agree with OP's suggestion--I much prefer "sat" than other denominations like mBTC. The only units I can quickly compute in my head are sats or BTC, and if a common idiot like myself can understand those easily enough, then anyone else can too.It would be so nice if bitcoin were so widely adopted that this actually became an issue, but we're not there yet. Not by a long shot.
What's the problem if we use both bitcoin and Satoshi? As well as both dollar and cents that are used simultaneously.
We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
Yep, I've got no problem with that whatsoever. It's totally logical IMO. We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
What I will just like to ask is when satoshi eventually becomes like $1, and we have still not disconnect from fiat, how would we buy things in the market that are priced less than $1usd since satoshi is still the lowest denomination for bitcoin now.
I'd like to see the math on that, noting the 18 decimal places plus coin thats been lost over the years etc - what value does BTC need to reach for a SAT to be $1 or even just $0.01 cent for that matter!
Sure, that is the stage where bitcoin will eventually get to, where things will now be paid for in satoshi and not in bitcoin, if we really are to adopt it as payment for goods, we have to be able to purchase things in satoshi which the opportunity is still there, although it is still the same thing when we have our figures in 0. Btc amount, we are still indirectly spending satoshi and I think majority of us has even spent satoshi more than we have spent bitcoin, just that we did not tie the name to bitcoin.
What I will just like to ask is when satoshi eventually becomes like $1, and we have still not disconnect from fiat, how would we buy things in the market that are priced less than $1usd since satoshi is still the lowest denomination for bitcoin now.
What I will just like to ask is when satoshi eventually becomes like $1, and we have still not disconnect from fiat, how would we buy things in the market that are priced less than $1usd since satoshi is still the lowest denomination for bitcoin now.
What's the problem if we use both bitcoin and Satoshi? As well as both dollar and cents that are used simultaneously.
We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
We can use Satoshis when we refer to an ice-cream and use bitcoin when we refer to a lamborghini.
I think this is one among many reason why mass adoption will be very difficult, pricing items in terms of SATs many retailers will have a hard time knowing this likewise the buyers, and don't even mention the highly volatile nature, what will happen when btc increase in price! reduce the SATs value 
this is certainly not going to be easy, mass adoption is far reached
this is certainly not going to be easy, mass adoption is far reached
It is impossible to do that at this point of time since bitcoins value is very volatile. Let us say for example today the value of a sack of rice is 0.003 btc, then what will happen if the next day bitcoins value goes bearish then the price of rice is now 0.005 btc. The merchant is at loss here and thus it is very hard to make pricing in bitcoin since aside from possible losses in value the merchant will also be forced to change the price tag of an item everytime due to the volatility of bitcoin. Also, the slow transfer of bitcoin from one wallet to another wallet is another problem.
If i am speaking my mind, i have to say i hate those who are contantly speaking in sats. Just do the absolute value sof BTC, it makes much more sense for me, i can instantly calculate it. This way i dont need an extra conversation to get to he fiat value which is needed like ir or not.
This is going to cause a lot more confusion, imagine seeing an expensive SamSung television on sale for 1 298 7215 Satoshi. 
The consumer would look at that price and think he or she is in Zimbabwe or Venezuela, where they have hyperinflation and crazy prices for goods and services.
A lot of people in 3rd world countries are not educated and trying to explain to them how much 1 298 7215 Satoshi is, would be a challenge. You will have to use digitized QR codes that constantly change, based on the latest Bitcoin price.
The consumer would look at that price and think he or she is in Zimbabwe or Venezuela, where they have hyperinflation and crazy prices for goods and services. A lot of people in 3rd world countries are not educated and trying to explain to them how much 1 298 7215 Satoshi is, would be a challenge. You will have to use digitized QR codes that constantly change, based on the latest Bitcoin price.
I'm sure this has been talked about at length - you can just point me there.
basically every time there is a price rise, someone raises this discussion again.
it is a good suggestion, but the thing is that there is no "official" bitcoin unit that all merchants must follow. every merchant is free to use any unit or units (as in offering multiple formats) as they want.
you can also set your wallet application to show you any unit you want. for example if you prefer Satoshis then set it to show you Satoshis. so when you want to pay a vendor for a "Can of Coke" you see the value in Satoshi no matter what the vendor shows you.
It is not a bad idea to price things in sats when it makes sense. For example coffee or other small items. In general humans do not like to have a lot of zeros in the front of a price. For example "how much is that? " it is 0.000030515 , or "how much is that?" it is 3000 sats.
Agreed. Cannot imagine purchasing stuff with so many zeros and decimals involved and calculations like these can be tricky to begin with. Sats or mBtc seem like the ideal way to price everyday items currently.However, none of this matters a lot when compared to the volatility factor which is the primary deterrant. The volatility factor needs to go down so that BTC price can stay stable over the long term.
It is not a bad idea to price things in sats when it makes sense. For example coffee or other small items. In general humans do not like to have a lot of zeros in the front of a price. For example "how much is that? " it is 0.000030515 , or "how much is that?" it is 3000 sats.
so mbtc is nonesense but saying 96 hundred is ok? 1mbtc is a 1/10 of a bitcoin how is that difficult?
You missed two zeros there 1mbtc is 1/1000. Like i've said earlier it depends on our preference, even though one is better than the other many of us will still go back to using decimals or other measurement because that's what they like to use.saying 145000 satoshi is silly when you can just say 1.45mtc using 0.00145000 is even worse.
Using satoshi isn't silly they're still useful if you check some explorers, estimators and wallets they use satoshi or sat when recommending the correct amount of fees. In the future we could be using satoshi if the price of bitcoin keep on rising after every halving.I am of the opinion (my own of course) that for greater adoption, that we need to start pricing in SATs
Can of Coke (X) SATs
Meal in a nice restaurant (X) SATs
Rocket for moon (X) SATs + me
Bitcoin is on the up and buying a can of coke for 0.000096, gives the shop keeper a hard time - but with SATs that would be 9,600 Sats (or 9.6k - casual writing) - which, whilst in the UK might look like hyper-inflation Makes it easier for the shop keeper and consumer-friendly.
I'm sure this has been talked about at length - you can just point me there.
Apart form being a professional trader and someone who understands the crypto market pretty well Sats is a bit confusing measurements for mass adoption to be possible. mBtc seems cool to like normal dollar to cent 100 mBtc equals 1Btc that way it will be easier to understand for anybody even without crypto knowledge Can of Coke (X) SATs
Meal in a nice restaurant (X) SATs
Rocket for moon (X) SATs + me
Bitcoin is on the up and buying a can of coke for 0.000096, gives the shop keeper a hard time - but with SATs that would be 9,600 Sats (or 9.6k - casual writing) - which, whilst in the UK might look like hyper-inflation Makes it easier for the shop keeper and consumer-friendly.
I'm sure this has been talked about at length - you can just point me there.
Mbtc is the best one. 1 btc is 100 btc cents and 1mbtc is 1/10 of a btc cent. That isn't very hard to understand now is it? saying 145000 satoshi is silly when you can just say 1.45mtc using 0.00145000 is even worse.
Pounds down anyway, let just move to SATs (BTC) On a serious note, I know a number of the larger retailers price in GBP, EUR & USD if they have a global presence.
I will look into this Micro BTC. I've obviously been under a rock.
Hes talking crap ignore him.
Our garbage coin is currently 1.5 per satoshi, so its kinda easy to give you those answers.
In your example your can is 96 hundred, as expected from a country with a sane economy you have a bit lower prices due to better competition and free market.
I vote a of course, b is nonsense no matter what the USD/EUR centrists say.
so mbtc is nonesense but saying 96 hundred is ok? 1mbtc is a 1/10 of a bitcoin how is that difficult?
As i know its forbiden to make price tags in other currencies in every country
Pounds down anyway, let just move to SATs (BTC) On a serious note, I know a number of the larger retailers price in GBP, EUR & USD if they have a global presence.
I will look into this Micro BTC. I've obviously been under a rock.
Hes talking crap ignore him.
I am of the opinion (my own of course) that for greater adoption, that we need to start pricing in SATs
Can of Coke (X) SATs
Meal in a nice restaurant (X) SATs
Rocket for moon (X) SATs + me
Bitcoin is on the up and buying a can of coke for 0.000096, gives the shop keeper a hard time - but with SATs that would be 9,600 Sats (or 9.6k - casual writing) - which, whilst in the UK might look like hyper-inflation Makes it easier for the shop keeper and consumer-friendly.
I'm sure this has been talked about at length - you can just point me there.
Can of Coke (X) SATs
Meal in a nice restaurant (X) SATs
Rocket for moon (X) SATs + me
Bitcoin is on the up and buying a can of coke for 0.000096, gives the shop keeper a hard time - but with SATs that would be 9,600 Sats (or 9.6k - casual writing) - which, whilst in the UK might look like hyper-inflation Makes it easier for the shop keeper and consumer-friendly.
I'm sure this has been talked about at length - you can just point me there.
- About 12 thousand
- About 200 thousand
- No idea, we don't really launch rockets.
Our garbage coin is currently 1.5 per satoshi, so its kinda easy to give you those answers.
In your example your can is 96 hundred, as expected from a country with a sane economy you have a bit lower prices due to better competition and free market.
Vote then,
If you walked into a shop and there was a can of coke for sale, what would you prefer to pay
a) 9,600 SAT b) 0.096 mBTC or c) 9.6k SAT
If you walked into a shop and there was a can of coke for sale, what would you prefer to pay
a) 9,600 SAT b) 0.096 mBTC or c) 9.6k SAT
I vote a of course, b is nonsense no matter what the USD/EUR centrists say.
so mbtc is nonesense but saying 96 hundred is ok? 1mbtc is a 1/10 of a bitcoin how is that difficult?
As i know its forbiden to make price tags in other currencies in every country
Pounds down anyway, let just move to SATs (BTC) On a serious note, I know a number of the larger retailers price in GBP, EUR & USD if they have a global presence.
I will look into this Micro BTC. I've obviously been under a rock.
Haha... wait til you hear/read about the other denominations people have tried over the years to popularise for Bitcoin. For me it's always been satoshis and decimals... but I'm also used to gambling sites especially use mBTC... and some even used bits (100 satoshi units).
But I've actually always said I hope to see the day when even at forex counters you see every currency being priced in satoshi.
USD/BTC
GBP/BTC
JPY/BTC
etc.
And when everything will be quoted not in USD value but BTC. Gold, oil, stocks! Wouldn't that be a sight for someone who lived through the first ten years, eh?
Pricing everyday items in sats is not a hard task. Just with a widget that makes a calculation in terms of sats this can be achieved. When more and more people start using bitcoin on daily needs such a way of pricing becomes common with online stores and can see on offline stores very rarely as we cannot have the value changed for every minute with relation to the market fluctuations.
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