How to pay use cryptocurrency

  • More and more people are curious and questionable about one of the uses of cryptocurrency, namely for payment. In general, the prices of the goods and services we purchase are constant, and the purchasing power of legal tenders remains constant for a long time, so it is accepted that the use of fixed currency to measure the value of goods.


    However, the price of cryptocurrency, such as bitcoin, is very volatile. From the data of bitcoin spot price history , The lowest price of Bitcoin under the 6,000$, and the highest is nearly 20,000$. Such large price fluctuations can be achieved even if Trading, but it is also difficult to show fairness. Great changes in prices can cause great instability.


    Many products now support unconditional refunds in the short term. If someone buys a $1,000 product in Bitcoin, they use a bitcoin (1btc = $1000). After two days, the price of Bitcoin suddenly double (1btc = $2,000). At this time, the customer asks the merchant to return the refund. The refund amount is a bitcoin, and the customer can sell the bitcoin, get 2000 dollars, and re-purchase the product with 1000 dollars, compared with the previous two days. The amount of funds has not changed, but Equivalent to getting the goods without spending money.


    1. It is obvious that the price has risen. Everyone has seen an increase in the price of Bitcoin, including merchants. Then, will the merchants refund a bitcoin at this time?

    Perhaps the merchant will forcibly withdraw $1,000 and leave that bitcoin.


    2. In another case, someone bought a $1,000 product in Bitcoin and used a bitcoin (1btc = $1000). After two days, the price of Bitcoin was $500, and the price of the product was still $1,000. Then, in order to maintain the interest, the merchant raises the price of the product, and now a product needs 2 bitcoins.

    If there is a problem with the product, then should the merchant refund a few bitcoins to the customer?

  • Hey, I don't understand your problem... Merchants using different payment methods that the authoritys currency are gambling somehow when holding the different currency like bitcoin.


    You as a merchant have fix prices for your products... When you now offer an alternate payment method like bitcoin, the bitcoin prices of your products fluctuate like the bitcoin price. So if bitcoin price rises, your products cost less bitcoin and they will cost more when price falls... So the best thing, when you as merchant don't want to gamble (get less for your product when bitcoin price falls) so you do your best to immediately exchange any bitcoin you get for your products to fiat money... In this case you won't get any Problems... As costumer you do the game in opposite way when paying in alternate currency... In one case you can get lucky, cause price falls and you got a 1000$ product for now 500$ worth of bitcoin. In other case you will be sad cause now bitcoin is worth 2000$ and you just payed twice...

    For any kind of Donation/Thank you or something else you can use this BRO-Address: BUsEA8MpnBvhi14eEZMfX75XeSF15agi2L ;)

  • The sellers will probably be clever enough to exclude such speculative transactions (terms and conditions / AGB), because that is not the purpose of selling goods.

    And if the dealer allows this, he must probably also bear the risk that this is exploited by customers.

  • 卖方可能会巧妙地排除这种投机交易(AGB),因为这不是出售商品的目的。

    如果经销商允许这样做,他也必须承担被客户利用的风险。

    Yes, if the speculative nature of Bitcoin still exists, it will be used to make payments, and many contradictions will occur.

  • Hey, I don't understand your problem... Merchants using different payment methods that the authoritys currency are gambling somehow when holding the different currency like bitcoin.


    You as a merchant have fix prices for your products... When you now offer an alternate payment method like bitcoin, the bitcoin prices of your products fluctuate like the bitcoin price. So if bitcoin price rises, your products cost less bitcoin and they will cost more when price falls... So the best thing, when you as merchant don't want to gamble (get less for your product when bitcoin price falls) so you do your best to immediately exchange any bitcoin you get for your products to fiat money... In this case you won't get any Problems... As costumer you do the game in opposite way when paying in alternate currency... In one case you can get lucky, cause price falls and you got a 1000$ product for now 500$ worth of bitcoin. In other case you will be sad cause now bitcoin is worth 2000$ and you just payed twice...

    This is a question worth discussing. Thank you for your answers and reflections on my questions. At the beginning of your comment, "What you mean is that the product is like bitcoin, and the price is speculative. It is changing." When I got to the back, "If the bitcoin price drops, I need to pay twice." I feel that you mean the price of this product is fixed. So this is a problem that has yet to be resolved.

  • Sry, maybe I told a bit bad... English isn't my native language... I meant, when you have fixed prices for any products and you pay them with bitcoins, you could have payed twice as much bitcoins as needed, when price of BTC raises cause you only needed less bitcoins to buy the product you wanted... So if bitcoin price doubles you have payed twice your product but only getting one...

    For any kind of Donation/Thank you or something else you can use this BRO-Address: BUsEA8MpnBvhi14eEZMfX75XeSF15agi2L ;)

  • Overstock.com keeps 50% in cryptos, the other half gets converted immediately in fiat currency after a sale. I heard this company keeps those cryptos and wait for favorable exchange rates. However, if you are a small business owner and you don't have the time to trade cryptos, exchange immediately after sale. There are many services now that do that for you. I use Shapeshift now and then and never had a problem. As Jafu29 said, exchange instantly after a sale and you don't have to worry about fluctuations. I don't see any problem with BTC or any other crypto payment as long as you exchange instantly after sale. It's the same with foreign fiat currencies. You can accept Chinese Yuan and you can convert immediately into your national currency. Of course, BTC is much more volatile than Yuan.

  • lillianxia don't know, but in Germany there are several ones also in some other countries...


    Maybe there will be more and more country's or sellers who will accept bitcoin... You just need to ask or have an open eye... ;)

    For any kind of Donation/Thank you or something else you can use this BRO-Address: BUsEA8MpnBvhi14eEZMfX75XeSF15agi2L ;)