Way to increase the value of bitcoin and earn more bitcoins at the same time

Brangdon

sr. member

Activity: 365

Merit: 251

Quote from: Axewax on February 12, 2014, 11:26:24 PM

Not really. I'm only willing to do this because I firmly believe that BTC will increase in value by a lot more than 20%

I don't follow. Why don't you charge the full £100 and then using it to buy £100 of BTC, instead of accepting £80 worth of BTC? Offering a discount for BTC means you end up with less BTC.

As an aside, your freedom to offer a discount for BTC is why Gresham's Law doesn't apply to bitcoin. There may come a time when such discounts are used to encourage bitcoin hoarders to spend. That will lead to more deflation, while increasing the velocity of money.

farlack

legendary

Activity: 1311

Merit: 1000

Quote from: CoinPurse on February 12, 2014, 10:46:45 PM

certainly if you can afford the 20% margin hit. Your regular customers could certainly get offended and go elsewhere though.

This, right here. It's very possible, people are really bitchy, one time I had a customer of mine she referred her friend, I gave her friend something for free.. The shitstorm that woman gave me over the phone was insane. I never saw her again.

Axewax

newbie

Activity: 15

Merit: 0

Quote from: grifferz on February 13, 2014, 08:08:01 AM

Quote from: seafarer124 on February 13, 2014, 08:01:39 AM

Quote from: grifferz on February 13, 2014, 07:41:25 AM

I don't think that the customers of his real-world delivery and courier business are going to log in to bitcointalk and check out his reputation first, so perhaps you are a bit confused.

At least he is being positive.

He may be new to the forum but you have no idea how knowledgeable he is.

I am not criticising him for being a newbie. That was my point - his forum reputation appears to be completely irrelevant to his query, so I don't understand why anyone would bring that up. Not to mention that I am one too.

I have attempted to give OP what I hope are some useful suggestions. Ultimately he knows a lot more about his own business than anyone else here anyway so he should probably just have more confidence in his plans.

Thank you, I have read your suggestions with great interest. I particularly like your idea of offering a discount to existing customers if they pay with bitcoins.

I will keep you guys posted. Also if anyone mentions bitcointalk when booking a delivery with btc. You will get 20% off (not in combination with any other discount offers)

grifferz

full member

Activity: 154

Merit: 100

Quote from: seafarer124 on February 13, 2014, 08:01:39 AM

Quote from: grifferz on February 13, 2014, 07:41:25 AM

I don't think that the customers of his real-world delivery and courier business are going to log in to bitcointalk and check out his reputation first, so perhaps you are a bit confused.

At least he is being positive.

He may be new to the forum but you have no idea how knowledgeable he is.

I am not criticising him for being a newbie. That was my point - his forum reputation appears to be completely irrelevant to his query, so I don't understand why anyone would bring that up. Not to mention that I am one too.

I have attempted to give OP what I hope are some useful suggestions. Ultimately he knows a lot more about his own business than anyone else here anyway so he should probably just have more confidence in his plans.

seafarer124

sr. member

Activity: 302

Merit: 250

Quote from: grifferz on February 13, 2014, 07:41:25 AM

Quote from: apsvinet on February 13, 2014, 07:36:47 AM

You have no reputation, newbie.
Good luck!

I don't think that the customers of his real-world delivery and courier business are going to log in to bitcointalk and check out his reputation first, so perhaps you are a bit confused.

At least he is being positive.

He may be new to the forum but you have no idea how knowledgeable he is.

grifferz

full member

Activity: 154

Merit: 100

Quote from: apsvinet on February 13, 2014, 07:36:47 AM

You have no reputation, newbie.
Good luck!

I don't think that the customers of his real-world delivery and courier business are going to log in to bitcointalk and check out his reputation first, so perhaps you are a bit confused.

apsvinet

full member

Activity: 224

Merit: 101

You have no reputation, newbie.
Good luck!

grifferz

full member

Activity: 154

Merit: 100

Have your delivery guys hand out a small printed flyer with every delivery they make. The flyer would contain a brief description of bitcoin, and offer 20% off first delivery paid for using bitcoin, plus a URL to your web site where the specifics are discussed in more depth. Point out places to buy bitcoins, and that several large UK businesses are already taking bitcoins (Scan, Aria).

seafarer124

sr. member

Activity: 302

Merit: 250

Organise a meet-up in your local area and give customers and local businesses an invite. Discuss this option with others you know who use BTC and get them to help you promote.

If you don't have space for a meet-up I am sure there would be a local pub that would be interested in hosting the function.

Option 1. Don't give 20% discount initially use it to fund free drinks and sandwiches at the meet-up.

Option 2. Give away free BTC to get the taste buds twitching.

Meet-ups give people the opportunity to discuss BTC in a relaxed atmosphere rather than over a shop counter where time may be a problem.

Also, having a meet-up would introduce you to others where you could possibly spend BTC.

Good luck.

sloozy8

newbie

Activity: 14

Merit: 0

I like your plan but also feel that until btc are easier to locate, than even with the discount, people will continue to pay with fiat rather than try to hunt down btc.

We had to jump through hoops to locate ours.

x86Daddy

full member

Activity: 216

Merit: 250

I think it's a good approach... I've done something similar with my updated pricing for my DeLorean: http://bitcoinmotor.com/

Winalunt

hero member

Activity: 525

Merit: 500

Tell Me What A Man Is Without Pride .

as long as not more than your profit thats alright

Axewax

newbie

Activity: 15

Merit: 0

Quote from: franky1 on February 12, 2014, 11:07:29 PM

the question to be asked is:

where would these regular customers buy bitcoins?

i, just like you am in the UK and unlike the USA, bitcoin is harder to get unless you already know about it and know where to look. so unless you can find a way to get people to EASILY (i truly emphasise that word) get bitcoins. most would not bother.

and if you do come up with a plan to make it clean and easy for the uninitiated, you should contact local media to give you a bit of free press.

lastly, what is your business as a few of us may want to use our bitcoins with you

It's a London based small removals and large item courier company, we will soon be operating a motorcycle courier service in the capital as well. You can find us at eastlondonmanwithavan.com. With all these big companies adopting bitcoins it seems a bit silly to spam my business on here amongst all the big announcements as we are quite a small operation. But we began accepting bitcoins last year around April and I believe we are still the only business of it's type to accept BTC. So if anyone on here is buying furniture off eBay or ikea, or needs to move in the capital give us a call.

I guess the problem of how I would get people to buy bitcoins could be solved by pointing them in the direction of bittylicious.com and a blockchain.info wallet. The type of people I most expect to actually follow through with buying btc to get the discount are going to be people that are already vaguely aware of bitcoin or have perhaps already got a bitcoin wallet with some dust and maybe would buy more btc just to get the discount.

instructor2121

newbie

Activity: 51

Merit: 0

Quote from: grifferz on February 12, 2014, 11:30:18 PM

Quote from: franky1 on February 12, 2014, 11:07:29 PM

where would these regular customers buy bitcoins?

i, just like you am in the UK and unlike the USA, bitcoin is harder to get unless you already know about it and know where to look.

LocalBitcoins is not particularly a scary place.

I'm in the UK too and I sell to other UK people on there regularly.

I think if someone can't handle buying bitcoins on LocalBitcoins for GBP in a bank transfer to another UK bank then they are not that interested in having bitcoins in the first place.

Of course, they will get a slightly better deal going to an exchange but for UK folks that will involve sending EUR to a strange company in another country so may well be too scary for them.

Excellent point...May consider finding some LocalBitcoin sellers and have them come to your place a business a few days out of the week or maybe create a schedule. This will be the easiest way for customers to get bitcoin...

grifferz

full member

Activity: 154

Merit: 100

Quote from: franky1 on February 12, 2014, 11:07:29 PM

where would these regular customers buy bitcoins?

i, just like you am in the UK and unlike the USA, bitcoin is harder to get unless you already know about it and know where to look.

LocalBitcoins is not particularly a scary place.

I'm in the UK too and I sell to other UK people on there regularly.

I think if someone can't handle buying bitcoins on LocalBitcoins for GBP in a bank transfer to another UK bank then they are not that interested in having bitcoins in the first place.

Of course, they will get a slightly better deal going to an exchange but for UK folks that will involve sending EUR to a strange company in another country so may well be too scary for them.

Axewax

newbie

Activity: 15

Merit: 0

Quote from: bg002h on February 12, 2014, 10:58:29 PM

A very noble donation

Not really. I'm only willing to do this because I firmly believe that BTC will increase in value by a lot more than 20%

franky1

legendary

Activity: 4270

Merit: 4534

the question to be asked is:

where would these regular customers buy bitcoins?

i, just like you am in the UK and unlike the USA, bitcoin is harder to get unless you already know about it and know where to look. so unless you can find a way to get people to EASILY (i truly emphasise that word) get bitcoins. most would not bother.

and if you do come up with a plan to make it clean and easy for the uninitiated, you should contact local media to give you a bit of free press.

lastly, what is your business as a few of us may want to use our bitcoins with you

brokenchair

member

Activity: 109

Merit: 10

I appreciate your dedication to bitcoin.
Honestly though, short of you owning some fancy exclusive restaurant, or something where you can demand people only pay bit coins and you provide them a way to purchase bit coins in your store, I don't see it helping you.
10 percent seems more than fair to me, as a discount.
What are you selling that you can take 20 percent off the price and still be making a profit, something fun Wink

bg002h

donator

Activity: 1464

Merit: 1047

I outlived my lifetime membership:)

Flawless plan? Depends on perspective. If you don't mind paying your customers 20% to go learn about bitcoin and become a user, it's a great idea. A very noble donation and great contribution to the community. It is the spread of adoption that is driving value now, and that needs to continue...so it may be in your long term best interests.

From a myopic, immediate self interest perspective, of course it makes sense to take 100% fiat and buy 20% worth of ฿.

Axewax

newbie

Activity: 15

Merit: 0

Quote from: CoinPurse on February 12, 2014, 10:46:45 PM

certainly if you can afford the 20% margin hit. Your regular customers could certainly get offended and go elsewhere though.

I guess that's possible. Is 20% discount too much? I want to put a nice juicy discount so that people will go to the effort of getting BTC in order to save £20-£40. If more btc accepting businesses in London did this I think there would be more of a buzz and the reason for getting BTC would be the discounts.

In another thread it was said that btc users are generally young and male. What the bitcoin economy needs is more women. From having had a few girlfriends in the past I know that nothing is more attractive to them than a tag with "20% off" written on it.

Topic: Way to increase the value of bitcoin and earn more bitcoins at the same time (Read 1435 times)