Market Research Poll \ stacker news ~bitcoin

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1025 sats \ 10 comments \ @siggy47 2h bitcoin

This post is an attempt to do a little informal market research regarding stackers' willingness and desire to start using bitcoin for day to day expenses. I have been lurking around the ~AGORA territory and nostr to get an idea of what products can be bought with sats.

My impressions are that at this early stage most sellers are offering either bitcoin related merch or specialty items, both of which understandably are priced higher than what a family might be willing or able to spend for necessities. Examples include Zeus t-shirts, Pubkey hoodies, high quality beef, specialty coffees, ghee, tallow soaps and deodorant, etc.

I wonder if stackers would want to buy basic necessities (think toilet paper, generic coffee, paper towels) by mail at prices at or below what you would expect to pay with fiat?

Yes80.0%

Yes, but only in bulk, like at Costco10.0%

No. I prefer hodling my precious sats5.0%

No, I like shitcoining gift cards. 5.0%

20 votes \ 21h left

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36 sats \ 4 replies \ @SimpleStacker 2h

I don't think i'd buy daily necessities using sats unless it's from a platform that I trust to deliver it to me speedily and efficiently, and in which I have some reasonable ability to resolve disputes with.

That's why I said in a previous comment that the first order of business for a bitcoin merchant is to build a product/platform that people actually want to use. I think the idea of wanting to build a bitcoin business before focusing on the product itself is putting the cart before the horse.

Ultimately, I voted for "No I like shitcoining gift cards" because that's my practice right now. Most of my bitcoin spending, other than on SN, SNZ, and a few merch items here or there, has been gift card purchases.

74 sats \ 3 replies \ @siggy47 OP 2h

I see your point. Let me ask you this. Would you take a chance on a stacker you knew and developed a level of trust with from SN who had access to wholesale merchandise and featured a product or two every week or so? Keep in mind that these would be small purchases if you desired?

159 sats \ 2 replies \ @SimpleStacker 2h

I think I would, but it also depends on how low the price (inclusive of shipping) is compared to fiat.

I'd also prefer bulk orders in that case, since I don't want to have to spend too much time managing the logistics of ordering.

30 sats \ 0 replies \ @DarthCoin 1h

yeah shipping is key that matter in this. Will be necessary to have sellers for each region, to lower the costs of delivery.

I will not order 100 TP from a seller delivering from US or China to Italy.

Buying from local stores is the best way. So for all these daily products we have to convince more local small shops to accept bitcoin. In my case was years and years of convincing work until I find 2-3 that can deliver to me anything I need and pay in BTC. So I sporadically buy online, only when I find something better or they cannot deliver in time.

30 sats \ 0 replies \ @siggy47 OP 2h

That was my response too when I asked myself this question. As it is we buy many items in bulk.

138 sats \ 0 replies \ @Undisciplined 2h

I think it’s hard to get the delivery costs down to where they’d need to be.

I’d gladly support a merchant who figures it out though

36 sats \ 0 replies \ @guerratotal 1h

Realistically, I think there's still a long way to go to get to the point where you can buy basic necessities with SATs. I think an item would cost double or triple the price of what I find at the local grocery store.

It must still be very satisfying to see that item arrive via mail knowing you bought it with your Bitcoin.

36 sats \ 0 replies \ @DarthCoin 1h

People will not start spending their sats on daily necessities until they will start earning them (not buying/DCA).

Only then will see the true value of each sat and how they should spend it.

36 sats \ 0 replies \ @grayruby 2h

Sure if I could buy these items for less than I would in fiat (I could replace the sats I use to by the goods)

The issue with this is almost all the sellers costs will be in fiat so they need fiat liquidity either via credit (which can't be infinite and has a cost) or by selling a portion of the Bitcoin they receive. How much of a discount can they offer to be competitive with big players like Amazon just to retain a small amount of Bitcoin and arb melting fiat.

I much prefer this business model in a service industry business. Say I offer home HVAC services. I have healthy margins, so I can charge in Bitcoin and undercut my competition on price. Capturing a smaller margin which I would be able to retain in Bitcoin after paying all expenses but the Bitcoin grows in value over time. So basically I am using Bitcoin's presumed appreciation as a competitive advantage.

I was planning to do this as a test with a window washing business this summer but I got working on other things and never did it.

36 sats \ 0 replies \ @0xbitcoiner 2h

If delivery doesn't hike up the price too much, then why not?