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Tonko (OP)
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March 25, 2013, 02:59:25 AM |
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Goods costing 10 BTC mean you can pay up to $100 more or less in corresponding fiat?!
That doesn't make sense to me.
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notig
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March 25, 2013, 03:03:20 AM |
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It's incredibly easy to program prices in something that doesn't fluctuate much and tie it to bitcoins. Go to the bitcoinstore and see for yourself.
Brick and mortar stores might have it more tricky... but LED signs would easily fix that. In the future OLED's will be printable... all you will see are LED signs and not because of bitcoins... because it would be so easy to adjust the prices it would save labor.
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Tonko (OP)
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March 25, 2013, 03:32:59 AM |
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It's incredibly easy to program prices in something that doesn't fluctuate much and tie it to bitcoins. Go to the bitcoinstore and see for yourself
I saw. What prompted me to ask, however, is the fact that I have also seen some incredibly pricey offers. Some shops apparently live in the distant past, asking 2 to 3 times prices in fiat. |
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Vladimir
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March 25, 2013, 03:40:17 AM |
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Goods costing 10 BTC mean you can pay up to $100 more or less in corresponding fiat?!
That doesn't make sense to me.
You wait until BTC worth 10k$ then 10$ daily price variation is not such a big deal. |
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Tonko (OP)
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March 25, 2013, 04:40:41 AM |
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You wait until BTC worth 10k$ then 10$ daily price variation is not such a big deal.
If 1 BTC is stated to be worth 10k$, what does it matter if a hair from Putin's asshole is the only thing that you can buy with it? |
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JordanL
Donator
Sr. Member
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Activity: 294
Merit: 250
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March 25, 2013, 04:44:20 AM |
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You can't price anything in BTC right now, unless it's something like a mining rig that earns BTC. You have to pin prices to a fiat currency, and have them converted to the BTC exchange rate in real time.
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Tonko (OP)
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March 25, 2013, 05:04:46 AM
Last edit: March 25, 2013, 05:22:12 AM by Tonko |
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People seem to have a real problem understanding what am I questioning here.
Say you have some BTCs today and find, say a hard drive priced @1 BTC. Well, tomorrow BTC is worth twice and now you can get that hard drive for 0.5 BTC.
So why buy anything at all with BTC? Better wait, but then wait until when?
Similar reasoning can be applied if you are just to buy BTC and price is $10 more in the morning than it was in the evening. Indirectly you can spend $100 more on the same item. In one day! Again, why buy anything at all then?
The only reasonable behavior is then to just accumulate BTCs, expecting a constant increase until some presumed day when price will be stable so that buying anything else with it won't be possible immediate loss.
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Brushan
Member
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Merit: 10
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March 25, 2013, 06:37:27 AM |
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People seem to have a real problem understanding what am I questioning here.
Say you have some BTCs today and find, say a hard drive priced @1 BTC. Well, tomorrow BTC is worth twice and now you can get that hard drive for 0.5 BTC.
So why buy anything at all with BTC? Better wait, but then wait until when?
Similar reasoning can be applied if you are just to buy BTC and price is $10 more in the morning than it was in the evening. Indirectly you can spend $100 more on the same item. In one day! Again, why buy anything at all then?
The only reasonable behavior is then to just accumulate BTCs, expecting a constant increase until some presumed day when price will be stable so that buying anything else with it won't be possible immediate loss.
You are thinking like that just because you've find something that grows in value nonstop. Why buy a hard drive for 100USD when i can buy a bitcoin and it will be worth 200USD tomorrow? |
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Chaz
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Activity: 71
Merit: 10
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March 25, 2013, 06:40:04 AM |
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Why buy a 4tb hdd now when you might be able to buy a 8tb hdd for the same price in around a years time?
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1FsQJtY4vbvbkJj4Pd869rDcbFmu11RHge
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contactluis
Newbie
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Activity: 28
Merit: 0
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March 25, 2013, 07:17:15 AM |
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People seem to have a real problem understanding what am I questioning here.
Say you have some BTCs today and find, say a hard drive priced @1 BTC. Well, tomorrow BTC is worth twice and now you can get that hard drive for 0.5 BTC.
So why buy anything at all with BTC? Better wait, but then wait until when?
Similar reasoning can be applied if you are just to buy BTC and price is $10 more in the morning than it was in the evening. Indirectly you can spend $100 more on the same item. In one day! Again, why buy anything at all then?
The only reasonable behavior is then to just accumulate BTCs, expecting a constant increase until some presumed day when price will be stable so that buying anything else with it won't be possible immediate loss.
If you can, go to silk road and the answer to your first example will be answered. In silk road, a seller can choose to sell their happy products either in BTC or $. If the seller decides to sell their product in BTC, he/she is not going to make many sales when the price of BTC rises. If they set their prices in dollars, when you go to check out, the web site tells you how many BTCs are needed to complete the purchase. When I decide to buy my products at silk road is take my $ from Dwolla, exchange them at Mt.Gox and immediately transfer the same amount into my Silk Road account. Then I wait a couple of days for the price to appreciate and I can buy my weed for a reduce cost. For some reason weed gets me very high when I know that I got it for half the price.  |
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Stephen Gornick
Legendary
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Activity: 2506
Merit: 1010
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March 25, 2013, 07:36:00 AM
Last edit: March 25, 2013, 08:33:08 AM by Stephen Gornick |
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So why buy anything at all with BTC? Better wait, but then wait until when?
Similar reasoning can be applied if you are just to buy BTC and price is $10 more in the morning than it was in the evening. Indirectly you can spend $100 more on the same item. In one day! Again, why buy anything at all then?
The only reasonable behavior is then to just accumulate BTCs
It may depend on how easy it is for you to replenish your wallet so that your spending isn't causing you to deplete your Bitcoin balance. In the U.S. I can transfer in funds cheaply from my bank using Dwolla. The cost is just $0.25 per transaction. So I'll have USD funds at an exchange and as I make purchases with bitcoins I'll make a corresponding buy at my exchange so that my net BTC position doesn't decrease. Additionally, there are people who receive bitcoins as income or wish to convert the increased purchasing power that the rising exchange rate has provided. For them, there are costs and delays to convert that income to fiat. If they can use those funds to pay for their purchases then they don't need to go through the hassle of cashing out. So not everyone is hesitant to spend their coins. |
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KSV
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June 05, 2013, 04:26:39 PM |
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Goods costing 10 BTC mean you can pay up to $100 more or less in corresponding fiat?!
That doesn't make sense to me.
You wait until BTC worth 10k$ then 10$ daily price variation is not such a big deal. and you have won the best price award |
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