Farmer's Markets

[LokeRundt]

So I have been selling kombucha at farmer's markets, where believe-it-or-not, there's tech-savvy people who have voiced an interest in buying my kombucha/kefir products for BTC. . . .now my question to you (as I have posed it to them) would be: "Shall I price my products in a flat BTC rate, or have a fluctuating price in BTC to try and stay closer to a consistent price to the local currency?" 

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[rethaw]

Use a simplemoving average. It is the most sane approach I have seen so far.

You can see it on bitcoin charts by selecting a 10-day date range and pulling down the simple moving average to be over several hundred hours.

Good luck!

[BombaUcigasa]

That is a very good question OP.

Consider what you will do with the bitcoins, do you keep them or convert them? If you keep them, use the latest average price, you will notice there is just a 10% difference between the 24h and 7d price. If you want to convert them, use an average in days longer than what you need to convert the bitcoins.

Using an average means you will sometimes lose a bit, and sometimes gain a bit, compared to your desired income. Also ask around to see if your suppliers can convert to bitcoin as well. This way even if the market value of bitcoin varies, you are operating in bitcoin, so any value changes are transparent.

[fxgmblr]

wow that's cool. put up a sign at your booth saying "will accept Bitcoins". you will get more interest+business even if people don't use BTC to buy your Kombucha

[Ryland R. Taylor-Almanza]

My brother and sister drink Kombucha and shop at farmers markets. What area are you in?

[haydent]

+1 for farmers markets ! its where we all should shop 

[Atom]

Lokerundt: First off, kudos on doing that - I've been playing around with doing Water Kefir at our local farmers market, but keep putting it off because I imagine the paperwork load is enormous.

To your question: It's all about your costs - If your running with 20% profit at the end of the day, you probably need something pegged to the value because it's important you don't suddenly find yourself with BTC worth 40% of what you thought (not that this will happen, but it could) and are unable to meet your bills.

If on the other hand your costs are quite low relative to your sell price (I know its very low with Water kefir and Kombucha is quite similar in its manufacture), and most of what you take in is profit than I'd say make it simple and set a flat price - Your customers will like it more, and you'll be able to sock away those bitcoins you get for when they're worth more.

That's my take anyhow

[LokeRundt]

coolio, thanks for the feedbacks.  I've got a label done up (thanks to Dank), now to see how it gets accepted

What area are you in?

Scandinavia

[Ryland R. Taylor-Almanza]

coolio, thanks for the feedbacks.  I've got a label done up (thanks to Dank), now to see how it gets accepted

What area are you in?

Scandinavia

A little far from them! Thanks anyway!