Open-book pricing
Our slice, explained
* Our slice is set automatically by bitcoin's price, checked daily: the higher bitcoin's price gets, the less we take. It also covers the one-off embroidery setup fee our maker charges for each design (about £5.94), which you'd pay doing it yourself, and your price already includes our maker's discount, passed on in full.
More details: how today's slice is worked out
| Yesterday's bitcoin price | £55,981 |
| Our slice per item, today | 12,500 sats ≈ £7.00 |
Our slice falls as bitcoin's price climbs, in bands that keep it at about £6 to £8 an item. It's set once a day and fixed in sats, and only changes when bitcoin's price moves into another band. From £10m a bitcoin it switches for good to 1,000 sats per bitcoin of yesterday's average mining reward, the block subsidy plus fees: the subsidy halves about every four years, and in the end fees are all that's left.
| bitcoin price | our slice (sats) |
|---|---|
| under £20k | 40,000 sats |
| £20k – £25k | 30,000 sats |
| £25k – £30k | 25,000 sats |
| £30k – £40k | 20,000 sats |
| £40k – £50k | 15,000 sats |
| £50k – £60k | 12,500 sats ◂ now |
| £60k – £80k | 10,000 sats |
| £80k – £100k | 7,500 sats |
| £100k – £125k | 6,000 sats |
| £125k – £150k | 5,000 sats |
| £150k – £200k | 4,000 sats |
| £200k – £250k | 3,000 sats |
| £250k – £300k | 2,500 sats |
| £300k – £400k | 2,000 sats |
| £400k – £500k | 1,500 sats |
| £500k – £600k | 1,250 sats |
| £600k – £800k | 1,000 sats |
| £800k – £1m | 750 sats |
| £1m – £1.25m | 600 sats |
| £1.25m – £1.5m | 500 sats |
| £1.5m – £2m | 400 sats |
| £2m – £2.5m | 300 sats |
| £2.5m – £3m | 250 sats |
| £3m – £4m | 200 sats |
| £4m – £5m | 150 sats |
| £5m – £6m | 125 sats |
| £6m – £8m | 100 sats |
| £8m – £10m | 75 sats |
| £10m and up | the mining reward × 1,000 (3,150 today) |
One cap: us vs doing it yourself
At today's slice, a cap costs about $0.03 less through us than creating an account with our maker, designing and submitting an embroidery file and ordering one yourself. That's what you're effectively paying for our design, for us testing it on the real thing, and for us doing the rest: checking every design against our maker's stitch rules, taking your sats over Lightning in seconds, never asking for a card, an account or a tracking cookie, keeping your details private and deleting them 90 days after your order is finished, checking every order on its way to our maker, custom 256-bit secure tracking links and more.
More details: the precise truth
A 21M cap, delivered in the UK: about $34.32.
| Cost | through us | yourself |
|---|---|---|
| Our maker: cap, embroidery, postage, tax | $26.39 | $26.39 |
| Maker discount, passed on in full* | −$1.42 | — |
| Embroidery setup (one-off) | — | $7.95 |
| Payment fee (1%) | $0.25 | — |
| Our slice, 12,500 sats | $9.09 | — |
| Total | $34.32 | $34.34 |
* Our maker's discount varies by product: across the items we sell today it's $1.42 to $6.55 an item. Updated daily.
How a price is made
- Our maker quotes the item, embroidery, delivery to your address and any tax they charge us.
- + 1% payment fee on that cost, for turning your sats into pounds. The 1% on our slice we pay ourselves.
- Converted to sats at the live rate.
- + our slice: 12,500 sats per item, set once a day. That's all we take. (Why "slice"? Bitcoin Pizza Day: 10,000 BTC for two pizzas, 2010.)
Every line is shown before you pay. The price is locked for 10 minutes; after that it refreshes with bitcoin, up or down.
Why sats?
Because it's the unit we think in. The slice is the same sats per item for the day, whatever the item costs; it only moves when bitcoin's price crosses into another band.
The honest caveats
- The payment fee is charged on our slice too; we pay that part ourselves.
- Our maker may change prices between your price check and your order; we absorb it.
- Lost parcels, design setup fees and test samples come out of our side.
- You never get a second bill.
- While we don't plan to change these rules, they are centrally controlled (by us) and subject to change. Any change shows here first, and the price you see at checkout is always the one you pay.