SweetSats on Nostr: It’s a tough question and no right answer. Just do what feels best to you. They way ...
It’s a tough question and no right answer. Just do what feels best to you.
They way I do it: I set the price of our products in sats based on the rough fiat price at the time minus a discount for Bitcoin. As the price of Bitcoin rises, I gradually adjust the sats price down. People pay fewer sats over time for a jar of honey. But if Bitcoin falls I do not raise if again; people can temporarily buy honey at a discount and I get to stack the dip. It’s worked for me since we started but idk how it holds up longer term.
They way I do it: I set the price of our products in sats based on the rough fiat price at the time minus a discount for Bitcoin. As the price of Bitcoin rises, I gradually adjust the sats price down. People pay fewer sats over time for a jar of honey. But if Bitcoin falls I do not raise if again; people can temporarily buy honey at a discount and I get to stack the dip. It’s worked for me since we started but idk how it holds up longer term.
quoting note1fvy…elnzSide note: you may notice that *everything* on SweetSats (npub1swe…ns6h) is *always* on sale!? That’s because the original prices listed are the price (in sats) at which the respective items were originally sold when launched.
For honey, that was first listed on February 1, 2024 when the site launched. Prices in sats have consistently deflated since that time and so honey has very steadily dropped in price over the last 10 months for anyone using #Bitcoin as their unit of account.
