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Author Topic: Why people price things in fiat but want BTC - choose one or the other  (Read 4843 times)
Aemon
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September 03, 2014, 06:05:46 PM
 #81

I check the price once a month. If the price changes everyday, then I'm almost always behind.

Is there any reason you don't check it multiple times a day?  It is as easy as checking the time which I am sure you do multiple times a day.

Kickstart4
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September 03, 2014, 06:44:37 PM
 #82

There are not much known people who accept bitcoins to buy regular stuff but fiat is accepted by everyone.
So people think bitcoin only as investment.
R2D221
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September 03, 2014, 10:24:27 PM
 #83

I check the price once a month. If the price changes everyday, then I'm almost always behind.

Is there any reason you don't check it multiple times a day?  It is as easy as checking the time which I am sure you do multiple times a day.


I'm not buying stuff multiple times a day.

An economy based on endless growth is unsustainable.
johncarpe64
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September 04, 2014, 04:14:58 AM
 #84

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.

What about the other way around? What if the T-shirt business applied your logic when bitcoin was $10 worth, if they fixed the price of single t-shirt+delivery at BTC2 ($20 at that time) how many do you think they'd be selling now?

If you're running a business, you have to adjust the price to BTC/USD rates to make sure all the expenses are covered (payable mostly in fiat).

If you're individual (ebay-like) seller, who doesn't sell for a living (just getting rid of unwanted goods) - you can fix the price in BTC, take the loss if price goes down, but if the BTC price goes up, you still have to be prepared to lower that fixed price (to remain competitive).
This is a very good point. Most people selling things for bitcoin are bitcoin poor and inventory rich. If they were to price things in terms of bitcoin then their sales would be negatively affected when the price of bitcoin goes up.

In order to be able to have a stable price for their goods, a merchant will need to price their products in something that has a stable value (dollars).
Aemon
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October 14, 2014, 03:50:29 PM
 #85

I think the biggest reason for this is to attach a currency to that.  It is the same reason BTC has a price attached to it.  If I tell you I am going to give you 150 blue velvet posters, wouldn't you want to know the fiat value of that? 
FattyMcButterpants
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October 15, 2014, 04:35:19 AM
 #86

Everything can be priced in everything else (as long as those things have prices). That's just the way it works.

People have been trained their entire life to price things in their local fiat.

There is an exchange rate, so we don't need to choose "one or the other".
I don't think it is so much the fact they have been "trained" to price items in their local fiat, but rather they are paid in their local fiat so that is how they measure their money.

I also think the exchange rate of bitcoin is too volatile for most things to be effectively be priced in terms of bitcoin. The only real exception to this would be things that are able to generate bitcoin income (for example miners or cloud mining)
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