I have mentioned before that the main problem I saw with Monero is the price fluctuations of items and that it could be fixed by simply choosing a number and sticking to it. Well, I decided since nobody else was doing it I would. Items at my store will only be up for a potential price change on April 1st, August 1st and December 1st of each year. This allows the possibility of actually beginning to make a budget in Monero that won't be invalid in the next 5 minutes. I want to be a general store selling baking pans, small appliances (coffee pots, toasters, blenders and the like), and some common household tools (hammers, tape measures, etc). I am open to suggestions from the community as to products they want and need to get closer to living daily life on Monero.

https://xmrbazaar.com/user/shortwavesurfer2009/

Edit: the August 1st price change will be 0 and will be reviewed again on December 1st.

top 3 comments

sorted by: hot top controversial new old

[–] jet@hackertalks.com 6 points 2 years ago* (last edited 2 years ago) (1 children)

While transacting in monero is laudable and doing the world a service, when you sell a product in one currency, but purchase that product in another currency, you're setting yourself up for foreign exchange arbitrage. That is not a fun experience from the service provider perspective.

Scenario a: your prices are above the Fiat price and people don't buy it from you

Scenario b: your prices are below the Fiat price, and people buy a lot of it from you.

You end up holding the bag, or having no transactional volume at all.

Xmrbazaar Even does auto currency conversion on the website, shows you the price and your local Fiat.

[–] shortwavesurfer@lemmy.zip 2 points 2 years ago* (last edited 2 years ago)

Well, people can either buy it, or they can not buy it, and I can use an exchange instead. I would rather not use an exchange, but I am able to do so. I think a lot of it depends very much on how much the Monero circular economy means to people. Is it just talk or are they willing to put their Monero where their mouth is?

Edit: I did take the foreign exchange arbitrage into account and have decided to air on the higher side by using the 365 day simple moving average. I also have a threshold at which if it drops too far below the 365 day moving average, I will simply remove all of my products from the marketplace until such time as it returns.

[–] Findmysec 2 points 2 years ago

Wonderful concept. I'll take a look, thanks