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Author Topic: Real world side gigs for sats.  (Read 305 times)
Latviand
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December 13, 2023, 01:59:50 PM
 #21

How would that be sustainable though? Cutting nearly a third of your usual price for services like console repair is quite a big discount. Unless the price of your service is overpriced at normal times, it probably won't last that long even if you bet on Bitcoin price making a new ATH sooner or later. I also discourage people from selling their skills for highly discounted prices since it can affect the market as a whole, which might affect your earnings in the future. CMIIW.
I think it will be sustainable but I think a lower discount would do much better because it's going to encourage your clients to pay you in bitcoin since there's a discount, that's actually a smart way to insure that OP will get more people to pay him in satoshis compared to just saying that they can pay in bitcoin, and it's not like you're losing too much in that discount because you're hodling for long anyway and they might be regretting paying you in bitcoin when the price starts pumping again. I do agree with you that we shouldn't sell our skills for a discounted price but that doesn't mean that we have to not do any discounts, if it would guarantee me that I wiuld get paid in bitcoin, I would probably just do the discount anyway, the point is accumulation after all and this is just a side gig so I think that it's not a bad idea to be doing discounts.
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December 13, 2023, 05:41:20 PM
 #22

You are forgetting the most important aspect of not losing money on trading. Do not sell on a loss. As long as you do not do that, you will have the same amount of Bitcoin as you did before.
If you have the luxury of choosing the time, you will not likely lose, but you will miss the alternative investment opportunity. Whoever bought at a price of 66k will have to wait about 4 years before making profits, and during this period he could have doubled his profits by investing in a different field.

That is absolute nonsense. If he did not buy more Bitcoin at regular intervals, then it is his own fault for missing investment opportunities. And unless you think that every trader has psychic powers to see into the future, then it is impossible to predict such opportunities. If people were to trade on whims, then they would definitely lose their money.

DCA and HODL are and remain the best strategies, in my view.

I'm still not sure what you mean by "the luxury of choosing the time." If he has extra money that he can use to invest, then he does have the luxury of choosing when to invest and how to invest.

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December 14, 2023, 12:58:48 AM
 #23

If the use of Bitcoin is more or less widespread in your area, you can definitely try it. But I wonder, will you be attracting certain clients simply because you accept Bitcoin? Or will your discount significant enough to make a difference with your clientele? If yes, then go ahead with your plan.

But if I do this in my locality, I don't think Bitcoin acceptance would make a difference unless the discount is significant enough. It all boils down to the quality of the service, price, convenience, marketing, referral, and so on and so forth. Bitcoin payment and a little discount might not really be a game changer. But if your service is great, it doesn't matter. You can always build on your reputation, make more money, and use it to stack more Sats.

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December 14, 2023, 08:02:25 AM
 #24

If the use of Bitcoin is more or less widespread in your area, you can definitely try it. But I wonder, will you be attracting certain clients simply because you accept Bitcoin? Or will your discount significant enough to make a difference with your clientele? If yes, then go ahead with your plan.

I can try paying for coffee and some supplies with Bitcoin using the Lightning Network, but I will definitely not buy something expensive like a new phone or a car with Bitcoin, especially at the present time when you can bet on the rise in the price of Bitcoin. Spending small amounts of Bitcoin to experiment is normal, but rarely does anyone spend something if they know that its value will increase. No one wants to buy a car with Bitcoin when they can buy Car, so Black Friday offers and gifts will not be affected.
Potato Chips
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December 14, 2023, 09:38:58 PM
 #25

I would just offer both fiat and bitcoin payment methods, this way you'll have a bigger target audience while still keeping the option of paying with bitcoin for the interested people. It is indeed very likely that you'll get more fiat than bitcoin but you always have the option of using the fiat money to buy more bitcoin.

You may use the general marketplaces but there are also some marketplace like craiglist (and some subreddits? -- vague memory lol) that allows you to mark post if cryptocurrency payment is also okay.

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TheUltraElite
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December 15, 2023, 03:33:47 PM
 #26

I'm looking to stack some sats utilizing ideas like this over the holidays if you guys would like to contribute and ideas to be tested in this endeavor please drop it here and I'll try to utilize or implement your idea into this venture.
OP still doing this? Holiday season is on for some parts of the world and just around the corner for others. Odd jobs are always in demand but the amounts that each earn might not be worth converting to crypto individually. I could suggest taking fiat payment and converting to crypto in bulk to avoid the transaction fees at the most possible amount. Also depending on your skills or expertise, you need to build a customer base too, for that you need to market your service on social media, which takes time too.

Hence my suggestion is not to keep this as a one off holiday service, but start it with this year and continue every coming month.

R


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