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?