How to pay use cryptocurrency

[fire-man]

    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?

[laughingburger]

    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?

From what i think if you want to pay using bitcoin, the price fluctuation should not be in consideration. Like what you say if i buy an item with 1000 value and the bitcoin price is 1000 at the moment then the price is fixed on that date whether to cash out or not cash out to fiat is based on the merchant risk and reward. This works like exchange rate from money exchanger and banks you cant possibly be i exchange usd to you at 1.5 but the price change to 2 tomorrow and you go back to him to ask for the 0.5 times more.

[sugarchrisp]

    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?

From what i think if you want to pay using bitcoin, the price fluctuation should not be in consideration. Like what you say if i buy an item with 1000 value and the bitcoin price is 1000 at the moment then the price is fixed on that date whether to cash out or not cash out to fiat is based on the merchant risk and reward. This works like exchange rate from money exchanger and banks you cant possibly be i exchange usd to you at 1.5 but the price change to 2 tomorrow and you go back to him to ask for the 0.5 times more.

It's not realistic to expect people to price things as if bitcoin doesn't fluctuate.  One day, hell even an hour and they could end up losing massive amounts of money because of it.  It's idiotic and no one will ever do it for anything that is significantly valuable.  I mean, I'm not even going to go into how exploitable this would be and how much of a headache it would be for retailers to deal with this.  Absolute nightmare.  No.

[damsix]

that is why the cryptocurrency cannot be accepted by the government and financial institutions, because the prices are always pluctuating.

but it's different when Bitcoin is exchanged first to FIAT then FIAT is bought clothes, pants, shirts, jackets etc.

[moonking]

   
    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.

I don't think this is true, no one keeps your bitcoin.  The merchants gets cash from a bitcoin payment provider, like copay.  If you request refund and its possible to get that refund in bitcoin, than they will issue your refund amount in bitcoin, and in your example you would get half the bitcoin, because price jumped.  I have ability to receive payments as cash on my exchange, it's a special address and whatever bitcoin is sent to it gets exchanged to cash right away, this is how they do it for paymets I think.  Have you heard of someone actually getting refund in bitcoin? like the exact amount they paid.