Cappuccino for bitcoins - how much should I charge?

[Playerino]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

[brontosaurus]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

Just don't unless you want your customers to pay more transaction fee than what is the cost of your coffee or they are willing to wait for hours to get it confirmed

[cryptomorphines]

It would be so expensive if you do that,tx fee is very high and you transaction wont be confirmed fast just wait for the lightning network to be implemented surely it will change everything.

[olubams]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

The best way is the cost to make the cappuccino in the first place and every other incidental cost you want to attach. And since you don't want to use USD as a basis, or any other fiat for that matter, all you just ask yourself a sincere question and that is, how much would you pay in btc for that particular product if you can answer that genuinely, then you will no the right amount to charge but if not, it means you are not ready for business as it is.

[EcoChavCrypto]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

If you are not trolling, or if you are not even aware, a single coffe on the United States is worth $1,50 or $2 maximum, if you are going to sell it for bitcoins, it will cost more than $18 in total, we need to pay 0.001 for fees.

Mate, if you are going to do it, just sell those cappucinos for Dogecoin, or just any other coin that is not charging incredible amounts of money just for the fees.

Or just ask for USDt, that is the only way to make it go faster and without price changes.

[Melquart]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

It's simple. You pay Cappuccino price based on bitcoin price in $ + transaction fee which will be bigger then coffee price for sure.

[BitcoinSupremo]

That would have been a good idea when network fees were normal, for the moment they are outrageous but there is a solution. If you want to make your customers to pay with bitcoin, you can switch to altcoin and fastest confirmation now is on Zcash and also the fees are super low. You can try to implement this payment system if you are serious about wanting to charge in cryptos for your cappuccino.

[nightmanisrightman]

Simply will not work right now, wait until Lightning Network is enabled. Then you will be able to make the coffee and take the payment and it will be received prior to the customer leaving the shop. Gotta be patient dudes

[bitart]

Simply will not work right now, wait until Lightning Network is enabled. Then you will be able to make the coffee and take the payment and it will be received prior to the customer leaving the shop. Gotta be patient dudes

Until then you can run a test page where you can test lightning network payments for your cappuccino, like the Starblock page was an example for buying blockacino with prompt payment. Not a bad marketing idea, but not marketing is the important part of it, but system development. If you wait for LN to go live, you can be among the firsts to accept bitcoin as a payment. Prepare for that and you will win otherwise others will develop their system and go for the customers' bitcoins.

[avikz]

Bitcoin is not structurally fit for such smaller payments. Even though bitcoin is divisible upto 8 decimals but the network fee will either eat up your profit or your consumer will end up paying more than market price. If you are selling something of high cost, then it will somehow makes sense even though a huge network fees will be deducted from the buyer. This scaling problem needs to be resolved immediately or else bitcoin's acceptability will come down to the lowest level possible.

[squatter]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

It's tough not to compare BTC price to other currencies. People naturally measure consumptive goods against purchasing power. It's a rational mechanism to keep people from going hungry.

I understand what you mean, though. From a Bitcoin holder/investor standpoint, it should be based on subjective value. For example, I like the idea of a work contract being payable in a specified amount of BTC rather than USD. Whether the price rises or falls, I don't want to be paid any less BTC than I was contracted for.

Using mining cost doesn't work. That doesn't account for market demand.

It would be so expensive if you do that,tx fee is very high and you transaction wont be confirmed fast just wait for the lightning network to be implemented surely it will change everything.

Lightning is coming. Some vendors are even accepting mainnet Lightning payments already!

[dogandogru]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

Just don't unless you want your customers to pay more transaction fee than what is the cost of your coffee or they are willing to wait for hours to get it confirmed

Totally agree it is not feasible to make small transaction with BTC because of crazy transaction fees. Moreover confirmation hour is also quite long.

[coinycoiny]

You might sell one a year, and that would be by mistake if your using bitcoin.

Why not use cash? Or a debit/credit card?

[majest3]

Bitcoin is not designed for micro payments under the current structure. $2 for the coffee and $12 in fee's, you won't sell much coffee. You also have to understand that BTC is an appreciating asset and the consensuses is that it will continue to do that, so holders of bitcoin are going to be reluctant to trade future growth for a cup of coffee, a car  or even a house!!!

[Playerino]

Why not use cash? Or a debit/credit card?

Because I want to get bitcoins without going through an exchange, using another currency or mining. I think the only way is by providing a service or good. I am very new to all of this, but the way I see for bitcoin to move forward is for more services to accept it. If I can make cappuccinos and get bitcoins and then use those same bitcoins to buy more coffee beans I can increase the number of bitcoins I have without thinking about dollars. Someone will have to start accepting bitcoins for services and goods and keeping them and/or spending them to get other goods and services in bitcoins. Imo, buying and selling bitcoins with dollars isn't the way to go.

I really appreciate all the clarification on the fees, I've done my research and yes, it's not possible right now. I will read up on Lightning Network.

[ThunderCatSteve]

Please don't compare to dollars or any other currency. How do I come to a bitcoin price? Should it be based off of the cost to mine bitcoins?

Not sure if it worth if the clients have to pay the fees which can become 10-50x coffe. I'm not aware of the prices but i would charge 0.00007-0.00015BTC
There are some exception in this way, for example if the merchant and the client have the same wallet type (Xapo-Xapo or Coinbase-coinbase or any other similar service) then there are no fees on transactions and there is not needed any confirmation time for this as it is instant, less worries and pretty happy.

[coinycoiny]

Because I want to get bitcoins without going through an exchange, using another currency or mining. I think the only way is by providing a service or good. I am very new to all of this, but the way I see for bitcoin to move forward is for more services to accept it. If I can make cappuccinos and get bitcoins and then use those same bitcoins to buy more coffee beans I can increase the number of bitcoins I have without thinking about dollars. Someone will have to start accepting bitcoins for services and goods and keeping them and/or spending them to get other goods and services in bitcoins. Imo, buying and selling bitcoins with dollars isn't the way to go.

I really appreciate all the clarification on the fees, I've done my research and yes, it's not possible right now. I will read up on Lightning Network.

Even ignoring the fact of the fees make bitcoin unusable, you are selling coffee, so you need passing trade. Now it's probably about 1 in 1,000 people own bitcoin, and of those I would suggest only 1 in 100 would use it to buy a coffee. People buy bit coin to hodl not to use it. So basically for every 100.000 people that come into your shop you have the opportunity to make $5 dollars.

It makes a little bit more sense if you are selling goods on the internet as you attract the few people around the country who will search you out to buy something with bitcoin. But shops relying on footfall, forget any crypto.

....and yet all of these currencies are supposedly worth 750 billion dollars, not a bubble at all is it?

[kier010]

today bitcoin are not suitable for transaction especially to low transaction. you will send small amount but the fees will be higher than the amount you send unless this lighting network would be use. by the way not all costumer would be willing to pay bitcoin for your Cappuccino or any coffees.

[BTCforJoe]

Why not use cash? Or a debit/credit card?

Because I want to get bitcoins without going through an exchange, using another currency or mining. I think the only way is by providing a service or good. I am very new to all of this, but the way I see for bitcoin to move forward is for more services to accept it. If I can make cappuccinos and get bitcoins and then use those same bitcoins to buy more coffee beans I can increase the number of bitcoins I have without thinking about dollars. Someone will have to start accepting bitcoins for services and goods and keeping them and/or spending them to get other goods and services in bitcoins. Imo, buying and selling bitcoins with dollars isn't the way to go.

I really appreciate all the clarification on the fees, I've done my research and yes, it's not possible right now. I will read up on Lightning Network.

Don't let misinformation be the death of your knowledge into cryptocurrency. Lightning Network is NOT the end all be all solution to the scaling issues that we are currently experiencing. It requires a second layer to the Blockchain, and stops becoming a decentralized peer-to-peer platform at that point. We have to put our full trust in the off-chain network, which means we will have to put our trust in the only organization types that can bankroll such a large payment channel: the banks.

The best solution would be to accept alternative currencies, such as Bitcoin Cash or Ethereum. The only challenges you'll begin facing are the lack of users who hold any of the alts that you decide to accept as payment.

If I may, the best option for you is to start putting cash aside from your sales, and after taking out your profits and operational budget or whatever, use the remainder to exchange directly with someone for Bitcoin. Use www.localbitcoins.com to find a reputable seller, and start doing this on a weekly/monthly basis. There are plenty of reputable sellers on LBC, and you may even begin to develop a stronger relationship where you can create a schedule with an individual so you can bypass all the fees incurred by LBC.

Think creatively, and you'll be able to get into Bitcoin in no time. It's just a matter of finding an alternative solution to the ones you've mentioned wanting to avoid. If you have any more questions, feel free to PM me, and I'll be more than willing to try and help you come up with ways for you to get into the game.

Cheers, and welcome to Bitcoin.

Joe

[YuginKadoya]

Why wait for the lightning network if the transaction for bitcoin is a yes OK, I really think the lightning network is applicable for high fees transaction and a cappuccino would not surely be a lot confirmation to take, It can have a transaction fee that is not so high enough or you can base on the value on USD per bitcoin, Or you can surely accept both payments there are still peopled that's gonna pay you in BTC even if the fees are high.