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Filou19d ago
Prices on @SweetSats haven’t changed since $100k/BTC, just sayin’ 👀
💬 11 replies

Replies (11)

Ben Justman🍷19d ago
@SweetSats how have your sales changed with Bitcoin price fluctuations and how often to do you change your prices? You're on the frontier pricing in Bitcoin and I want to learn from your experience
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SweetSats19d ago
People are definitely spending waaay less with lower exchange rates as their sats don’t go as far as they were used to before. Strange though because in fiat terms, my prices are at nearly 50% discount from only a few months ago, but we are seeing very few sales comparatively! When we first started out two years ago I listed products priced in sats roughly equivalent to what we sold the same goods in our local market. As price of Bitcoin increased, I adjusted price in sats down over time. However, as exchange rates have declined over the past few months we have not adjusted back in the other direction! As long as I can cover costs I am OK offering customers a deep discount and hodling the sats indefinitely. Idk if this strategy works over long term, tbd! 1 BTC = 1 BTC 😉
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Purple Painter19d ago
This is the way I price my paintings. 21k sticky price. One day it will get you a nice canvas painting, today it’s on paper. I have gotten far less commissions even though the price has dropped by about half. I also haven’t been promoting as much.
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SweetSats19d ago
Yeah imo people just don’t want to spend when price is low, they are more focused on preserving capital. #fearandgreed
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Ben Justman🍷19d ago
I just had my best February ever tho. I think we get trapped in that expectation and let it be okay to have a bad sales month because "the price is down" when it's really on us. I know I at least get caught in that at times
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SweetSats19d ago
Good to hear! Personally I don’t do much in the way of shilling and I think this does tend to have an effect. I always notice more sales when I go out of my way to post more often. I think you do a great job putting your PoW out there without being pushy, informing customers about what gives your wine value vs. the competition, etc. 🤙
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Ben Justman🍷19d ago
Thank you sir. Where else do you advertise or how do you get sales if you aren't posting about your product?
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SweetSats19d ago
We don’t advertise. Nostr only. It’s enough for us, we are a small producer of maple and honey and word of mouth / repeat customers is more than enough to sell all that we produce each season. We used to do farmers markets locally, but decided to go Bitcoin only a few years back and nostr opened up that door to make it viable.
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SweetSats19d ago
Follow up question tho: I know you still sell in fiat. What portion of your sales on avg are fiat vs. Bitcoin? And do you see that ratio change based on Bitcoin exchange rate, ie. more Bitcoin sales when price goes up?
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Ben Justman🍷19d ago
Great question. I've been averaging like 30-50% in Bitcoin for the past year or so and haven't noticed a meaningful difference recently tho I don't have perfect numbers for you *100% of my customers are bitcoiners
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SweetSats19d ago
Awesome 💪
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