Replies (12)

How do bitcoin business price their stuff I wonder? Like if suppliers, landlords, etc., all charge in dollars or whatever else, then in order to keep with bitcoin fluctuations they have re-price all the time, or what? Like Bitcoin drops 30%, price has to go up 30%? Some kind of dynamic checkout?
@Cincy - here @Bitcoin Beans we deliver delicious100% Colombian Cacao (chocolate) to those who wish to fuel their lives on chemical free, fiat free, whole foods in exchange for Bitcoin. We offer complete visibility of its exact origin through a constant and transparent process with our farmers in Santander and La Sierra Nevada and a Proof of Purity Guarantee that our cacao is heavy metal clean. It’s a match made in heaven! Check our website out for the product range or DM us if you want to explore the magic of pure cacao!
This is a great question, we had the same question when we started our process of setting up @bitcoinbeans on here. In our hearts we really wanted to work in sats, to do our little bit to help us transition away from the dollar symbol, and to really honour Bitcoin. For us to quote in USD felt a little off. Whilst all of our farmers and some other suppliers are paid in glorious BTC, we do have substantial costs in fiat, notably the packaging company and DHL. Therefore, our exposure to volatility in the price is quite high. So in order to make this viable we have a USD price in the background, which then translates to an sats price on the website. The sats price is constantly moving which you could say isn’t ideal but it also feels really good when the BTC price rises because as we know when you are on a Bitcoin standard the cost of things comes down over time. Your cacao should get more economical over time! Maybe a company that was 100% Bitcoin native in all areas, I.e zero fiat then they could quote sats and have their sats fixed. I hope this helps?