Pricing everyday items in SATs - page 3.

DdmrDdmr

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Quote from: CrowdforAngels on August 15, 2019, 10:54:27 AM

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We’re pretty far away from that being in general of any practical use yet. I’m trying to imagine that scenario taking place right now at my local supermarket, and frankly nobody would have a clue what SATs are (and barely BTC for that matter).

In any case, being BTC as volatile as it is, it would require the use of digital pricing, as labelling would be a nightmare to update in accordance to price variation, often within the same day. But the core issue is that the ease of use for the average Joe is not a piece of cake, and simply trying from the pull side of things (price tags in BTC/SATs pulling the demand of this payment method) is not enough if the ease of use does not incentive the consumer to use it.

ralle14

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Using smaller measurement comes down to one's preference imo, i've used different types on websites that have mbit, microbit, bits, satoshis I don't mind which one I should focus on because at the end they're all the same.

On the three given choices i'll also pick mBTC because the wallet I currently use is set to mBTC. But I prefer using BTC0.000096 because it's still used on most places.

Artemis3

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Quote from: CrowdforAngels on August 15, 2019, 10:54:27 AM

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.

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.

Quote from: CrowdforAngels on August 15, 2019, 11:36:58 AM

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

I vote a of course, b is nonsense no matter what the USD/EUR centrists say.

CrowdforAngels

jr. member

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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

Quote from: Theb on August 15, 2019, 11:29:45 AM

And how do you think posting prices I satoshi can encourage mass adoption?

The main barrier for me is the price and its valuation, which is continually tied to the conversation. As you mentioned there are ways to get around this, but usually by using another base currency. e.g. quoting the item in dollars (and the amount paid in BTC). I suggest the radical and do away with a base currency and simply quote in BTC.

But for small items that's not easy to convey (the shop counter idea)

Theb

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And how do you think posting prices in satoshi can encourage mass adoption? Because if I'm just a regular person and see prices of another currency it would easily discourage me on buying onto that store. We in the crypto industry needs to get used to it on not seeing the BTC amount of what we are buying for and the only way to get a fair estimate of what we are expected to pay in BTC. We can even use our own wallets to determine the amount in BTC so really posting the prices in satoshies would only produce a lot of confusion rather than convenience for all the parties.

CrowdforAngels

jr. member

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Quote from: alexforneus on August 15, 2019, 11:09:51 AM

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.

hatshepsut93

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In Western world people are used to price stuff in dollars or units that are close to dollars - GBP and EUR for example. Bitcoin also has a unit that is close to one dollar - micro BTC. It's roughly $10 today, so you'd pay 1.5 mBTC for a pizza, or 0.1 mBTC for a can of coke - much more convenient than dealing with thousands of satoshi's. Our brains are wired to operate better with smaller number of digits, so the unit of Bitcoin used for daily purposes should keep the number of digits to a minimum. The time of satoshi's will come when BTC will hit 1 million.

alexforneus

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As i know its forbiden to make price tags in other currencies in every country

CrowdforAngels

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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.

Topic: Pricing everyday items in SATs - page 3. (Read 495 times)