From Dollars to Sats: A Shift in Mindset? \ stacker news ~bitcoin

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From Dollars to Sats: A Shift in Mindset?

230 sats \ 12 comments \ @hustler 20 Nov bitcoin

Imagine you're a service provider or you are selling a product: Would you charge for your products and services in Bitcoin based on its fiat value, or would you switch to using Satoshis (Sats)?

Bitcoin based on its fiat value33.3%

Bitcoin based on pure Sats66.7%

12 votes \ poll ended

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49 sats \ 2 replies \ @Undisciplined 20 Nov

I would price purely in sats, but I also have a day job in the fiat mines that would allow me to run fairly volatile margins.

19 sats \ 1 reply \ @hustler OP 21 Nov

But what if you were to earn only Bitcoin as income. Would the volatility bother you a lot?

0 sats \ 0 replies \ @Undisciplined 21 Nov

It would be annoying for sure, but my skills are all intellectual, so I wouldn't have a complex set of input costs.

20 sats \ 2 replies \ @alt 20 Nov

Now? I'd charge based on fiat value. Fiat is still the unit of account, and the most common medium of exchange. Pricing in fiat will help people understand how much they are paying.

Also on the short term, fiat is relatively stable compared to Bitcoin. Of course on the long term fiat trends to zero but it doesn't go up or down several percent a day (yet). Pricing in sats would necessitate recalculating prices more frequently.

10 sats \ 1 reply \ @hustler OP 21 Nov

Actually the stability factor is a relative phenomenon right? For example if we take fiat out of the equation altogether, satoshis as a stand-alone currency wouldn't fluctuate (because we don't compare it with anything else) but increase in value steadily as Bitcoin is a deflationary asset. Value of Sats would then be determined by the market participants within the economy. Some kind of standardization will be a game changer. Moreover USD has been losing its value in the long-term to Bitcoin. I would not mind ditching fiat if I can pay in Bitcoin everywhere.

10 sats \ 0 replies \ @alt 21 Nov

In the long term yes, but short term it doesn't matter what you price bitcoin in, whether it's USD, houses, cars, eggs, or milk. The day-to-day volatility is still there and would make price calculation difficult even without the USD.

On the long term this problem goes away and then we can price things in BTC, but today it would probably cause as many problems as it solves.

10 sats \ 1 reply \ @Satosora 20 Nov

When btc reaches 100k, prices will be in sats. Thought that was interesting. There was a recent post on it.

0 sats \ 0 replies \ @hustler OP 21 Nov

Could you please link me to that post

10 sats \ 1 reply \ @0xbitcoiner 20 Nov

If bitcoin is widely standardized it would be in pure sats otherwise I think most would choose sats based on fiat value.