Quoting sales prices in Bitcoin

[Jet Cash]

Yesterday I had an enquiry for the sale of one of my domain names, and I've provided a Bitcoin alternative to a Sterling price. I quoted £15,000 or 0.5 Bitcoin. Bitcoin is currently quoted at around £22,500, so the Bitcoin option is quite a bit cheaper. I decided to do this for 2 reasons. One is that I don't care about the volatility of Bitcoin, as I will save the proceeds ( if it sells ) rather than exchange it for Fiat. The other reason is that my belief is that Bitcoin is at the start of a slow bull run. This means that I will soon recover the difference if my opinion is correct. A more important reason also stems from the volatility. If the price drops, then the buyer gets the chance to save even more by paying in Bitcoin - this assumes that he will purchase the Bitcoin, rather than spending coins that he already has. If the price looks like increasing, then he will be under pressure to make an early purchase, as holding off will increase the price he will have to pay in Fiat terms.

Another obvious benefit comes from the international nature of .com domain names. I am in the UK, and I have a Sterling bank account. The buyer could be anywhere in the world, and is unlikely to have direct access to Sterling deposits. Bitcoin allows him to use his local currency to deal with me directly, assuming that he has a reliable exchange service of course. I've started this thread in an attempt to encourage people selling international assets to quote prices in Bitcoin, rather than in depreciating Fiat currencies.

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[Oshosondy]

I've started this thread in an attempt to encourage people selling international assets to quote prices in Bitcoin, rather than in depreciating Fiat currencies.

If I have a business and I am accepting bitcoin, either I used a payment processor. But if I still see no need for it and I want to be accepting bitcoin directly and not convert it to fiat, I will have a means my site will automatically be updating the present price of bitcoin to fiat so that my customers can pay directly the exact amount they suppose to pay be it in bitcoin or fiat.

[Helena Yu]

If the price drops, then the buyer gets the chance to save even more by paying in Bitcoin - this assumes that he will purchase the Bitcoin, rather than spending coins that he already has. If the price looks like increasing, then he will be under pressure to make an early purchase, as holding off will increase the price he will have to pay in Fiat terms.

I am in the UK, and I have a Sterling bank account. The buyer could be anywhere in the world, and is unlikely to have direct access to Sterling deposits.

This is the advantage when the buyer is using Bitcoin because if he's use his local bank to transfer to international bank or using PayPal, he will get charged a lot fees. If he's use Bitcoin, he can minimize overpaying fee when he use a non custodial wallet.

And yeah when the Bitcoin price is keep increasing, many people don't want to spend it especially for Bitcoin holder who have accumulated Bitcoin from the beginning. For me, Bitcoin is better to use as an international payment.

[MusaMohamed]

If I have a business and I am accepting bitcoin, either I used a payment processor.

Payment processor charge fee from you and it eats your business income. Small business does not fit with payment processor and if you are owner of a very small shop, you can do it manually with your customers, deal-by-deal.

Bigger business will surely need to use payment processor for convenience and avoid human mistake as well as it is helpful for your accounting.

In addition, payment processors can have their downtime that affect your business for a while too.

[DaveF]

The flip side of the argument is that if BTC goes up they could have wound up paying $30k for the domain.
Since I am running my own payment node when putting sales though I just pass the price to it take a 1% discount and call it a day.


It's a bit of an opinion thing, once you give people massive discounts they start to ask why an that could cost sales. Never give a customer a chance to ask why something is so discounted.

Just my view.

-Dave

[EarnOnVictor]

Yesterday I had an enquiry for the sale of one of my domain names, and I've provided a Bitcoin alternative to a Sterling price. I quoted £15,000 or 0.5 Bitcoin. Bitcoin is currently quoted at around £22,500, so the Bitcoin option is quite a bit cheaper. I decided to do this for 2 reasons. One is that I don't care about the volatility of Bitcoin, as I will save the proceeds ( if it sells ) rather than exchange it for Fiat. The other reason is that my belief is that Bitcoin is at the start of a slow bull run. This means that I will soon recover the difference if my opinion is correct.

From a business view, I don't think you have a good justification for reducing your money in BTC except if you are trying to attract buyers through the privacy of Bitcoin. Short-paying yourself with over $1000 is not a good bargain as far as am concerned, and regardless of whether you will gain through the coin or not, your money is your money, you would have rather gained more or even withdrawn the excess and hold the rest for further planning.

Nonetheless, if the transaction would be made soonest, then you might have bought the coin at the peak, so it might fall before rising again.

[Lorence.xD]

If the price drops, then the buyer gets the chance to save even more by paying in Bitcoin - this assumes that he will purchase the Bitcoin, rather than spending coins that he already has. If the price looks like increasing, then he will be under pressure to make an early purchase, as holding off will increase the price he will have to pay in Fiat terms.

I am in the UK, and I have a Sterling bank account. The buyer could be anywhere in the world, and is unlikely to have direct access to Sterling deposits.

And yeah when the Bitcoin price is keep increasing, many people don't want to spend it especially for Bitcoin holder who have accumulated Bitcoin from the beginning. For me, Bitcoin is better to use as an international payment.

I think it has a good and bad advantages, like imagine using a currency where its value is volatile? But if you really aims to invest it would be better to not use your bitcoin. As the OP mentioned, looks like you still have to think of the volatility of bitcoin when paying. For me I rather stick to fiat money and keep my bitcoin maybe if there's an emergency where I lost my wallet, bitcoin payment is a good alternate currency to use for transactions. My concern is its still not recognized everywhere such as country side so its better to have spare money. However, it's more convenient for people who'd like to go shopping cashless. Direct payment of bitcoin is actually possible since there's some businesses that are accepting bitcoin as payment.

[hugeblack]

Accepting Bitcoin to make international digital payments is an excellent option as there is no shipping service or the need to pay a lot of fees for financial services or wait for several days before bank transactions are settled.
I don't know why sellers don't accept it, but the choice of digital products, Bitcoin is the best (perhaps not so with physical products)

Generally what is a domain that costs more than 10K USD.

[Jet Cash]

Generally what is a domain that costs more than 10K USD.

It's an aged 3 character .com.

The main point is that I don't mind if I don't sell the name, as I look on it as an investment. Fiat currencies are not investments in my opinion, but Bitcoin is. That is why I prefer to swop one investment for another, rather than accept fiat, and then try to work out what to do with it.

[huu78]

it's important to keep in mind that not everyone may be comfortable with using Bitcoin as a payment method, especially if they are not familiar with the cryptocurrency or its associated risks. It's always a good idea to provide clear information and guidance on how to make a Bitcoin payment, as well as any potential risks or fees involved.