[mrchess]

I'd suggest not calling it Honey. It is too similar to the word money, and can cause confusion. Imagine in conversation...

"so you go to this website and trade your stuff in for honey."

"wait you mean money?"

"no honey. but honey is like money, you can use honey to buy stuff just like money..."

etc.

EDIT: I just looked the pricing model and it is evokes weird feelings. Any reason why you don't just do a 1:1 ratio? Why force users to compute a secondary calculation. True, it is a multiple of 10 but still a calculation and makes me feel like I'm making a foreign purchase.

[illumin8]

Because they don't want you to do normal math and realize how much you are being ripped off...

[theswapdaddy]

We have the conversion ratio posted on the homepage itself and want users to know what it is. $1 = 10 Honey.

Also, we are giving users more than market value on products and selling brand new products under retail. The same products would be more expensive if you were to buy them directly from the store.

[mrchess]

If this is true it would make even more sense to drop down to 1:1 so that users would "get it" and not have to familiarize themselves with a new market.

Converting $1 = 10H might seem like a simple conversion, but you'd be surprised how difficult it can actually be for many general consumers. I've seen people bring out calculators to split a $130 bill evenly between 13 people.

[theswapdaddy]

Understandable and I think your point is certainly valid.

We're testing to see what works and what doesn't right now. If you think about it, people are more likely to buy or sell if the number is higher. But we will only know if people get used to it within a matter of days.

[theswapdaddy]

Honey is sweet!

We wanted to be a bit unique and because we're not using real money to buy your stuff, we thought Honey would be the next best thing.

Honey is different than dollars so think of it as its own currency. As for the conversion ratio, all currencies aren't equal, so we wanted to differentiate a little bit.

However, I understand your confusion and will work with my co-founder to make it easier to understand.