Why people price things in fiat but want BTC - choose one or the other

[OgNasty]

People who have been around for 2+ years know why pricing things in BTC is an exercise in futility.

[beetcoin]

People who have been around for 2+ years know why pricing things in BTC is an exercise in futility.

yeah, i know that .2 bitcoins is equivalent to $120 in today's price.. around there at least. but once bitcoin goes for $1450 per, it'll be harder to calculate a reference point for how much .2 is really worth. if bitcoin overtook the dollar as a currency then it'd be fair game, but we're not even close right now.

[sergio]

I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

They should be prepared in certain instances to take a fiat loss for their beliefs.

bitcoin is a baby, and it is already killing the dollar.

give it at least 10 years, and things will most likely be priced in bitcoins directly, actually in 10 years it may be more accurate to say things will be priced in satoshis, since a bitcoin could probably buy a brand new car and  maybe  even a house.

The coolest part of all is that it will make making wars expensive, since bitcoiners do not have to pay the war tax by force unless if they voluntarily pay such tax.

To help the bitcoin economy we should buy in the following order:
1 max priority to vendors that accept bitcoins and keep the coins.
2. vendors that accept bitcoins and sell the coins for fiat.
3. fiat
4. credit cards.

 

[Godye Scaro X9]

There are a couple of things that is priced as BTC and not fiat. For example, altcoins and cloud hashing contracts. That might give us some perspective of what a future BTC-denominated economy might look like.

[haploid23]

Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

That's just silly. Majority of the world still operates in terms of fiat. Until the day where you can pay nearly everything (rent, food, bills, and other misc cost) with btc, the world will still be pegged to fiat until there is a global monetary collapse.

If you bought your car for 100 btc, then price btc price crashes to $7/btc, but you get an offer for that car for 105btc, are you going to take the offer and consider it as profit?

[Aswan]

I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

They should be prepared in certain instances to take a fiat loss for their beliefs.

The reason is that others do the same and thus the BTC required to buy something from someone else will vary, which in turn makes people charge varying amounts of BTC in order to get the same good for the same good in the end.
Theres only 2 solutions to that:
1) Everyone has to change to only pricing things in BTC at the same time so they don't get left behind when the BTC/USD value drops
2) A slow adoption that will only lead to think being not pegged to fiat once the complete supply chain agrees on it.

That being said, a lot of prices are only shown in BTC and not in fiat already, it's just that the prices keep changing because of the BTC rate, but thats only happening on the backend. You will still only pay what the BTC price you are presented with.

[Soros Shorts]

I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

They should be prepared in certain instances to take a fiat loss for their beliefs.

It is reasonable and prudent to price and value items for sale in terms of something that is relative stable, e.g. USD. That way the seller does not have to change the price on a daily or even hourly basis.

[wasserman99]

I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

They should be prepared in certain instances to take a fiat loss for their beliefs.

It is reasonable and prudent to price and value items for sale in terms of something that is relative stable, e.g. USD. That way the seller does not have to change the price on a daily or even hourly basis.

This is true. Another reason is that more people are much more familiar with the "value" of a dollar. They are likely paid in dollars so if they pay $100 for something they know how much work they need to do in order to produce enough currency to pay for the item. This makes it much easier for people to determine if an item has a good price or not.

[BitCoinNutJob]

Fiat is still currently more popular and recognized.  Also the exchange rate fluctuations are still wide in ebay vs fiat, if priced in btc you would always have to check an exchange rate before buying a good.   

[harrymmmm]

Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.

That's just silly. Majority of the world still operates in terms of fiat. Until the day where you can pay nearly everything (rent, food, bills, and other misc cost) with btc, the world will still be pegged to fiat until there is a global monetary collapse.

If you bought your car for 100 btc, then price btc price crashes to $7/btc, but you get an offer for that car for 105btc, are you going to take the offer and consider it as profit?

Of course...if the new replacement car is still 100BTC.

[galbros]

You should price your goods in whatever helps your potential customers.  Bitcoin is not a crusade, it is a means for commerce.  As someone else pointed out, the USD and other national currencies are much better (presently) at being units of account.  Bitcoin is a great potential medium of exchange, and maybe store of value, and so people are using it exactly as they should be.

[Beliathon]

They should be prepared in certain instances to take a fiat loss for their beliefs.

Not everyone is so financially privileged as you, first world ignoramus.

[lyth0s]

Honestly I think comparing fiat to the amount of btc desired is a fair way of stating how much purchasing power of bitcoin you want during a point in time (now) where the purchasing power of bitcoin fluctuates.

[Mobius]

You should price your goods in whatever helps your potential customers.  Bitcoin is not a crusade, it is a means for commerce.  As someone else pointed out, the USD and other national currencies are much better (presently) at being units of account.  Bitcoin is a great potential medium of exchange, and maybe store of value, and so people are using it exactly as they should be.

This is very true. If you were to price your products in terms of BTC then you would likely get a lot of questions about how much your products actually cost. If the public is familiar with a certain denomination then you should price it that way and when you accept bitcoin you should make adjustments for exchange rate changes.

[oceans]

I can see why people do state that they would like to be paid in so many dollars but in bitcoin as it's easier then for it to be converted exactly and them know they will be receiving just that in bitcoins rather than losing out and getting paid less for their work.

[qwerty555]

You should price your goods in whatever helps your potential customers.  Bitcoin is not a crusade, it is a means for commerce.  As someone else pointed out, the USD and other national currencies are much better (presently) at being units of account.  Bitcoin is a great potential medium of exchange, and maybe store of value, and so people are using it exactly as they should be.

This is very true. If you were to price your products in terms of BTC then you would likely get a lot of questions about how much your products actually cost. If the public is familiar with a certain denomination then you should price it that way and when you accept bitcoin you should make adjustments for exchange rate changes.

Here is one already existing solution to that.

http://pesobang.com/

[Harvey Specter]

It's just easier for the time being until Bitcoin becomes more popular then I should think people will use just BTC as a label for price and not fiat.

[itsAj]

You should price your goods in whatever helps your potential customers.  Bitcoin is not a crusade, it is a means for commerce.  As someone else pointed out, the USD and other national currencies are much better (presently) at being units of account.  Bitcoin is a great potential medium of exchange, and maybe store of value, and so people are using it exactly as they should be.

This is very true. If you were to price your products in terms of BTC then you would likely get a lot of questions about how much your products actually cost. If the public is familiar with a certain denomination then you should price it that way and when you accept bitcoin you should make adjustments for exchange rate changes.

Here is one already existing solution to that.

http://pesobang.com/

I don't see how that website is a solution to that problem. All that website does is price their products in terms of bitcoin, but if the exchange rate moves then either the merchant or the buyer will end up getting a worse deal then they should because the exchange rate moved against their favor.

[R2D221]

Here is one already existing solution to that.

http://pesobang.com/

I don't see how that website is a solution to that problem. All that website does is price their products in terms of bitcoin, but if the exchange rate moves then either the merchant or the buyer will end up getting a worse deal then they should because the exchange rate moved against their favor.

Somebody has to take the risk first. Eventually more people will start to price things in BTC, and that will help the exchange rate to stabilize (maybe, I'm no expert).

[itsAj]

Here is one already existing solution to that.

http://pesobang.com/

I don't see how that website is a solution to that problem. All that website does is price their products in terms of bitcoin, but if the exchange rate moves then either the merchant or the buyer will end up getting a worse deal then they should because the exchange rate moved against their favor.

Somebody has to take the risk first. Eventually more people will start to price things in BTC, and that will help the exchange rate to stabilize (maybe, I'm no expert).

I think it will need to be the opposite. Once the price starts to become much more stable then things will start to be quoted in terms of bitcoin.

I think another reason things would be priced in bitcoin would be because it would cost a merchant bitcoin (instead of fiat) to produce and sell a certain product. If it always costs someone .2 BTC to produce something regardless of the exchange rate, then the merchant will likely want to sell it for something above .2 BTC.