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

[lihuajkl]

 Merchants are paying all the raw material or suppliers with fiat. If they accept btc payment, they will need to change to fiat to pay off. They are afraid the btc price goes against them and want to get back specific amount of fiat to cover the cost and make profit. The reason that they accept btc payment is that they want to attract the customers who hold btc.

[Anna Chan]

I seldom use foreign currencies and also was careless to the exchange rates. Holding BTC/LTC make me very care about the exchange rate swings. I like the decentralized currency, but I hate to keep my eyes on the screen board to watch the exchange rate. It looks like I'm holding some kind of securities instead of currency.

[Jesu]

It's a silly argument for many reasons. We need to tie the price to something so we can understand it better. It's no different than prices for different currencies at your local currency exchange where you go to get your holiday money.

[montello]

Isn't it obvious people that are familiar with the trend of things in the btc world know that the price of bitcoin is not stable so it is easy to make their demands in fiat which has a fixed price value.

[MoonRise]

Com'n bitcoin will never replace fiat moreover bitcoin is an asset just like Gold but it's virtual.This is a huge misconception that bitcoin will replace fiat.That is never gonna happen

[alwinlinzee]

Com'n bitcoin will never replace fiat moreover bitcoin is an asset just like Gold but it's virtual.This is a huge misconception that bitcoin will replace fiat.That is never gonna happen

You nailed it men.Its the basic truth bitcoin can't replace fiat.

[noel57]

It's a silly argument for many reasons. We need to tie the price to something so we can understand it better. It's no different than prices for different currencies at your local currency exchange where you go to get your holiday money.

You have said it all,the difference isn't there.

[Hasher99]

People still look btc as a mode of investment rather than as a currency to be used to buy something online. Somewhat they are correct, because btc isn't accepted much..

[BitcoinAccepted]

I try to price in BTC where possible...

0.05 BTC for any 6 bottles delivered within UK. Worldwide shipping available at competitive rates.

Da Vinci Ascent Vaporizer - Usually 0.635 BTC now only 0.525 BTC
Available in Stealth Black or Burl Wood

Whether it helps to stabilise price or not I don't know or care. I do it because I value the BTC over the $

[farlack]

It is a familiar denomination. Changing the way we think about something takes time. Many of us all ready take losses when we transact business because we pay exchange fees to top off our stash when we spend bit coin.

Why do people always say this? How much are most bank accounts? $8-$15 monthly? Are you spending that on fees.. Technically you're saving.

[Wooden Plate]

OP there is a simple answer to your question, that the people don't know where to spend btc but they know where to spend fiat.

[Aemon]

Well me as an example, I am still in the process of collecting Bitcoins, but when I do get some I probably will sell them for fiat.  I have loans I would like to pay off.  I want to keep Bitcoins but also pay off my loans!

[bitcoin_purist]

Com'n bitcoin will never replace fiat moreover bitcoin is an asset just like Gold but it's virtual.This is a huge misconception that bitcoin will replace fiat.That is never gonna happen

Ask steam engine operators what they thought about the first combustion engines.
Ask the cavalry what they thought about heavy slow steel vehicles with canons mounted on top of it.
Ask tank drivers what they think about drones and stuff.
Oh wait, many western countries don't even have tanks anymore, they are becoming obsolete.

Ask yourself again.

[findftp]

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's not as simple as you think. bitcoin's price is always rising, so .02 btc is not the same today as it is tomorrow. plus, fiat is our point of reference, since bitcoins are denominated into decimals. it's hard to scale them.

That's true, but you should only reference to FIAT, not use it as primary value denominator.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.

I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.

[bornil267645]

They became used to fiat so it's hard to leave out that part

[itsAj]

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's not as simple as you think. bitcoin's price is always rising, so .02 btc is not the same today as it is tomorrow. plus, fiat is our point of reference, since bitcoins are denominated into decimals. it's hard to scale them.

That's true, but you should only reference to FIAT, not use it as primary value denominator.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.

I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.

Since the merchants have to pay expenses in terms of fiat, they will need to price their goods in terms of fiat. If they did it the other way around they would be vulnerable to exchange rate risk.

[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's not as simple as you think. bitcoin's price is always rising, so .02 btc is not the same today as it is tomorrow. plus, fiat is our point of reference, since bitcoins are denominated into decimals. it's hard to scale them.

That's true, but you should only reference to FIAT, not use it as primary value denominator.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.

I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.

If the merchant had to pay for the merchandise in terms of dollars then why would they sell it in terms of bitcoin. This would be a lot like saying that you will sell a $100 bill for .05 BTC regardless of the BTC/USD exchange rate. If the exchange rate gets low enough then many people will take up their offer because they would be getting a good deal, but if the exchange rate gets too high then no one would buy because they would essentially be getting ripped off.

[cccarnation]

Bitcoin is quite volatile. The fiat exchange rate is the easiest way for all of us to gauge current demand for bitcoin.
If Bitcoin were evenly distributed between everybody on the planet there would be 0.003 bitcoin per person. From there you could start figuring out how much a house is worth or a cup of coffee.

[unexecuted]

Because the price in fiat is easier to relate to for most people I think

[illymoka]

The beauty of Bitcoin is that it is universal. So while we can compare it to USD for value, it can be converted to any countries dollar. This is what gives it such tremendous value.