Is it possible to use BTC and USD for pricing at the same time?

[Kiley33]

I want everyone to think about this question, what is the target of payment with Bitcoin. Dollars? Or Bitcoin? I think if you use Bitcoin to pay. So no matter what the value of the dollar, companies should sell their products at a fixed price.
for example
USD: Once Musk sold Tesla to use Bitcoin for payment, but when Bitcoin fluctuated, the payment was different, and later the Bitcoin payment was cancelled.
BTC: I know ognasty's fan site https://nastyfans.org/mint. In the website, the price of 1BTC=1BTC will not change. No matter when the product is, the price will not change.
If the number of bitcoins fluctuates with the U.S. dollar, it still means that they are priced in U.S. dollars and can only be purchased through Bitcoin.
What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

[pooya87]

You should visit a country with hyperinflation and you will get your answer.
Imagine in Venezuela you want to price something in bolivar, it can be worth a certain amount today and another higher amount tomorrow. Nobody sells their product at a "fixed price" in Venezuela simply because their currency value is volatile, in this case declining. One could use a more "stable" currency like USD to price everything and give a variable value in VES but that also doesn't mean bolivar is priced in US dollars and can only be purchased by it!

It is the same with bitcoin, since its price is volatile (in this case rising most of the times) people use another more common currency to set the price specially since they already use that currency. For example in Japan the shop would set the price in JPY and you pay a variable amount of bitcoin depending on the price at that time.

In other words 1BTC=1BTC does not also mean 1BTC=1product.

[mk4]

Whether we like it or not, bitcoin is simply not THAT big yet for merchants to be pricing their stuff in bitcoin. It just makes a lot more sense to be pricing things in USD at least for now because the USD is still the sort of "main" most widely adopted currency of the world.

[Bttzed03]

Hats off to merchants who uses bitcoin valuation but we aren't at that stage yet where goods and services are priced in BTC and not in fiat. I do not even know if that time will ever come. Most people still prefer convenience over techs that they might find complicated.

[ranochigo]

What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

Let's say I price my products at 0.1BTC and the current cost of 0.1BTC when compared to fiat is about $3000, but the actual product only costs $50. Would people still want to buy it?

Using fiat as a comparison to BTC will always be the case so long as there isn't a barrier to exchanging fiat to BTC or vice versa. People will always compare BTC to fiat as it is the de facto currency used by most people and it doesn't make sense to over-price your product just to maintain that 1BTC = 1BTC. You can easily compare the value of the product and assert that it isn't worth 0.1BTC, more like 0.0015BTC instead. As there is no price parity, no one would ever purchase something that overpriced.

[Kiley33]

Whether we like it or not, bitcoin is simply not THAT big yet for merchants to be pricing their stuff in bitcoin. It just makes a lot more sense to be pricing things in USD at least for now because the USD is still the sort of "main" most widely adopted currency of the world.

Items are priced in U.S. dollars and paid in Bitcoin, but commodity prices can still fluctuate. If the price range of the US dollar is not very large, it should be possible to use the US dollar as the benchmark first.

[Darker45]

I guess it is premature to the huge majority of shops and stores to price their products and services in Bitcoin. There's too high a volatility for a business to peg prices in Bitcoin. Of course, there are others who prefer to earn in Bitcoin, but that's a special preference which probably goes beyond the fact that the price fluctuates too much. The reason might simply be to raise Bitcoin regardless if such would mean deficit.

Also, if a business has the ability to absorb Bitcoin's temporary price decrease and spend in fiat while hodling the income in Bitcoin until the price recovers and makes gain, that would be nice. There's profit in business as well as in Bitcoin's price increase.

[defi-Dany]

Currently, Bitcoin pricing is more difficult to achieve because of too much volatility.

[Lakai01]

Currently, Bitcoin pricing is more difficult to achieve because of too much volatility.

As if volatility has ever been lower?

Just look at older price trends from 2013, for example, even then such fluctuations as we are currently experiencing were completely normal. The bitcoin price reacts much more strongly to news than for example stocks (and is also much more obviously manipulated), which of course contributes very strongly to volatility, but has never been different.

[pooya87]

Currently, Bitcoin pricing is more difficult to achieve because of too much volatility.

It is not. You probably think it is difficult because you have never been accepting bitcoin payments or making any payments yourself. The large number of merchants who have been dealing with bitcoin payments for years suggest it is not as difficult as you think.
All you need is an API to fetch the price and a simple arithmetic to convert the value of the goods to bitcoin based on that price. There are even third party "payment processors" that receive the bitcoin instead and pay you the fiat equivalent.

[JillianTaft]

I think no matter whether it is a buyer or a seller, if you only use BTC for pricing, one of them will always be dissatisfied. The BTC price fluctuates so much, it can only be said that if the merchants accepting BTC are willing to bear the risk of volatility.

[avikz]

I want everyone to think about this question, what is the target of payment with Bitcoin. Dollars? Or Bitcoin? I think if you use Bitcoin to pay. So no matter what the value of the dollar, companies should sell their products at a fixed price.
for example
USD: Once Musk sold Tesla to use Bitcoin for payment, but when Bitcoin fluctuated, the payment was different, and later the Bitcoin payment was cancelled.
BTC: I know ognasty's fan site https://nastyfans.org/mint. In the website, the price of 1BTC=1BTC will not change. No matter when the product is, the price will not change.
If the number of bitcoins fluctuates with the U.S. dollar, it still means that they are priced in U.S. dollars and can only be purchased through Bitcoin.
What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

At least in this point, don't listen to the bitcoin puritans. They will always say 1 btc is equal to 1 btc. But that's not practical for the time being. Because bitcoin's value fluctuates greatly within a short period of time which makes it unsuitable for pricing. So from a business perspective, it makes sense to add a USD/local currency equivalent and let the pricing in bitcoin fluctuate in accordance to that.

Practically you can't have a single pricing of a product in bitcoin. It wouldn't make sense to the buyers. If it changes as per the USD equivalent, then it makes sense!

[davis196]

BTC: I know ognasty's fan site https://nastyfans.org/mint. In the website, the price of 1BTC=1BTC will not change. No matter when the product is, the price will not change.

If a product has a fixed price in BTC and the BTC value rises tremendously,then the product will become incredibly expensive,so no one will buy it.
There's no problem to use both BTC and USD pricing.I wonder why this noob question is still being asked so many times.The BTC valuation in a certain currency isn't a big deal.
Bitcoin has a USD valuation,because the US dollar is still the most popular currency in the world and millions of people are using USD.If the euro was the most popular currency in the world,then Bitcoin would have been valued in euros.

[Aliceooo78]

I want everyone to think about this question, what is the target of payment with Bitcoin. Dollars? Or Bitcoin? I think if you use Bitcoin to pay. So no matter what the value of the dollar, companies should sell their products at a fixed price.
for example
USD: Once Musk sold Tesla to use Bitcoin for payment, but when Bitcoin fluctuated, the payment was different, and later the Bitcoin payment was cancelled.
BTC: I know ognasty's fan site https://nastyfans.org/mint. In the website, the price of 1BTC=1BTC will not change. No matter when the product is, the price will not change.
If the number of bitcoins fluctuates with the U.S. dollar, it still means that they are priced in U.S. dollars and can only be purchased through Bitcoin.
What is your opinion? Do you think Bitcoin should be priced in U.S. dollars? Is it possible to use BTC and USD for pricing at the same time?

If a product is priced in Bitcoin and USD at the same time, it is a very troublesome thing for merchants.

You said Tesla can pay in Bitcoin, but only accepts Bitcoin.They will not disregard normal market prices and will not disrupt normal market order.

For me personally, when Bitcoin is falling, I will consider accepting Bitcoin payments, simply increasing the number of my holdings, but the price of Bitcoin is very volatile and I will continue to change.

Generally speaking, when Bitcoin has not become a universal payment system in the world, the pricing of commodities is still based on legal tender. In many underdeveloped countries where economic crises have erupted, everyone’s choice is still the US dollar.

[leea-1334]

Try to apply this to this forum's example. To become a donator, the price was fixed in BTC IIRC. So it was worth nothing almost back in the day when the OgNasty you mentioned became a donator.

And today, well,,, if I could afford being a donator I would not be spending as much time on this forum I can tell you that:)

[noorman0]

Do you think Bitcoin should be priced in U.S. dollars?

We don't have to and it depends on our needs, especially regarding the efficiency of tax reporting. As far as I know, there are no countries that allow bitcoin to charge ownership or transaction taxes based on the number of bitcoins, but the value in fiat in the local country.

Is it possible to use BTC and USD for pricing at the same time?

Maybe we can, we can implement it like NFT item pricing. The more "valuable" the attribute of the item is, then we can call it a special edition and set a different price from the others. For example, a pair of underpants with Satoshi's signature that can only purchased for 1 BTC.

[EvieLannister]

If you want to buy a house, you need 1 BTC. No matter what the price is, the house is always sold for 1 BTC. This will also help the Bitcoin price floor. It will also incentivize people to use Bitcoin to buy goods, because if they know they can buy $35,000 at a cost of $29,000, people will make a deal. The demand for people to buy Bitcoin for car discounts will actually push up the price of Bitcoin.

This is to promote the use of bitcoin for payment, but if bitcoin is used for pricing, then his range is very large, and things that could have been purchased for $10 may rise to $50 before they can be purchased.

[Darker45]

If you want to buy a house, you need 1 BTC. No matter what the price is, the house is always sold for 1 BTC. This will also help the Bitcoin price floor. It will also incentivize people to use Bitcoin to buy goods, because if they know they can buy $35,000 at a cost of $29,000, people will make a deal. The demand for people to buy Bitcoin for car discounts will actually push up the price of Bitcoin.

This is to promote the use of bitcoin for payment, but if bitcoin is used for pricing, then his range is very large, and things that could have been purchased for $10 may rise to $50 before they can be purchased.

Which means to say, for as long as Bitcoin has a price value in terms of fiat and fiat itself remains the default currency, Bitcoin's equivalent to fiat will always be taken into consideration. It would only lose its relevance when fiat becomes the obsolete currency nobody would accept anymore. Otherwise, the argument that 1BTC=1BTC is no match to 1BTC=$20,000 turning into 1BTC=$70,000 or 1BTC=$10,000. You may price your house fixed at 1BTC but whether it will sell or not will highly be influenced by Bitcoin's fiat equivalent.

[NFTGate]

Some projects are using dual pricing policy. It means they have a fixed price set either in fiat currency or crypto currency. Whenever the user makes any purchase using other currency, that amount gets automatically adjusted as per the market rate.

[Wexnident]

Merchants should be able to adjust it right? Idk much about tech stuff but since some merchants are able to accept Bitcoin as payment, the barrier of volatility shouldn't be much of an issue (though the discrepancies at times is still a problem, albeit small in effect I think). 1BTC = 1BTC would always hold true, but pricing a product in terms of BTC shouldn't always be a constant value, BTC itself is a volatile market, changes would naturally occur to the price hence why the value of BTC to be paid should also be adjusted. We use fiat to convert and calculate it because it's a lot easier for both sides.

Pretty much why I say that Bitcoin wouldn't really be separated from fiat anytime sooner imo. We can't just slap into the world that they should price everything into Bitcoin, without any corresponding currency to help them actually provide a solid value to products since BTC changes in value, products don't.