Jason Ansley | Fractional COO | $GUARD WDWP#31 $BTC on Nostr: Re: “eventually it takes more dollars to buy the same stuff as before” That is ...
Re: “eventually it takes more dollars to buy the same stuff as before”
That is the heart of my question and OP…
If price in dollars goes up; why wouldn’t I as a business owner just also raise the number of Sats required to purchase said “Apple” (thing)?
(As I continued to type I think I unlocked the answer)
A business owner could do this and some might, but savvy customers will choose other suppliers because the two currencies (fiat and BTC) are moving counter to one another.
Therefore if the store owner raises sats required alongside fiat price; they are doing themselves a disservice as they will ultimately lose market share, or the customer will just pay in fiat while (potentially) getting the Apple for free in fiat terms becasue BTC price has increased asymmetrically to the decline of fiat value
That is the heart of my question and OP…
If price in dollars goes up; why wouldn’t I as a business owner just also raise the number of Sats required to purchase said “Apple” (thing)?
(As I continued to type I think I unlocked the answer)
A business owner could do this and some might, but savvy customers will choose other suppliers because the two currencies (fiat and BTC) are moving counter to one another.
Therefore if the store owner raises sats required alongside fiat price; they are doing themselves a disservice as they will ultimately lose market share, or the customer will just pay in fiat while (potentially) getting the Apple for free in fiat terms becasue BTC price has increased asymmetrically to the decline of fiat value