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Author Topic: A fund to help stores offer discounts  (Read 1058 times)
Riley (OP)
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May 13, 2011, 06:25:32 PM
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I run a store online and would like to offer a discount for people who pay with bitcoins. We can afford to run a 10% discount, but on a $40 product that's not going to be compelling enough to get someone to figure bitcoins out.  I want to apply for a grant, or something, that will help me give 50% discounts.

Such a fund could encourage producers to accept bitcoin AND encourage consumers to use bitcoin.

If I had a billion USD, I'd spend $200k on BTC for myself, $1M on BTC for this fund, and $100M on advertising, apps for phones and stores, and startup capital for BTC-based companies.  If you have a billion USD... please get cracking!

Even if you just have 100 kBTC, you might consider spending 1 or 2 of them on a fund to help businesses encourage BTC use.
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Cryptwerk
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November 19, 2020, 06:16:14 PM
 #2

add your store to cryptwerk.com
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November 19, 2020, 06:27:51 PM
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I have never ever heard that stores get a grant in order to offer discounts. Personally, I think that such things can be abused by owners and no one will negotiate with you but it depends on how reputable and big store you have. I have seen that VISA offers discounts and cashbacks if you pay via it's card in some online shops, food delivery services, etc. I hugely doubt you'll find a sponsor in the crypto field. Better to raise prices and then offer discounts on crypto payments or just offer 5% or what you can afford. In overall, the idea of such discounts is to stimulate certain payment methods but this shouldn't affect your business and can be just your kind wish.


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Baskeyairdrop
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November 22, 2020, 04:44:06 AM
 #4

add your store to cryptwerk.com
This website has the same name as your username, my guess is you own it.
My question is, would it be safe for him to add his store to this website? How secure and safe is this website?
Can you explain how it works and how it would help him with the discount he plans to give on payments people make for items from his store?
cryptoaddictchie
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November 22, 2020, 08:10:49 AM
 #5

Such a fund could encourage producers to accept bitcoin AND encourage consumers to use bitcoin.
This is depends on user's perspective. Some might spend bitcoin but some users are investment wise and will definitely hold it and used other crypto then pay for the product. Unless the 10% difference would make a better call than paying using fiat.

If I bought it with a regular price using fiat, and the amount or the value of bitcoin that I will release including the 10% is more expensive then I guess I just sell my btc for fiat and avail it without any discount cause it would be the same.

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BrewMaster
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November 22, 2020, 02:02:48 PM
 #6

when a merchant gives discount, they cut their costs to increase their profit margin then shrink the amount of profit a little so that the customer has to pay less.
you are asking others to pay you money so that you can make more money while giving small discounts!!! that makes no sense.

one way of cutting cost is for those who cut taxes when using bitcoin since bitcoin payment in some countries isn't subject to any taxation (only buying/selling bitcoin does). additionally there is no additional cost that comes with using credit cards and similar payment methods so the profit is already bigger than fiat payments.

There is a FOMO brewing...
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