Online Merchandise excepting bitcoin.

[SkinnyMon8]

If I except bitcoin on my online store, and a customer buys a product. What happens after 20 days and they want a refund in bitcoin? If bitcoin has gone higher or lower during that time, how do you figure out the refund amount?

[HabBear]

If I except bitcoin on my online store, and a customer buys a product. What happens after 20 days and they want a refund in bitcoin? If bitcoin has gone higher or lower during that time, how do you figure out the refund amount?

Why do you ask us? This is a business decision you need to make for your self. If you are going to offer a refund it should be at the rate of the time of purchase. But obviously that could cost you more 20 days later. The best thing to is to fully live in Bitcoin, rather than living in a fiat world but saving you support Bitcoin.

Have you had this problem yet? You might be wasting time on an issue that doesn't really exist.

By the way, the word to describe your willingness to agree with or take on something specific is "accept"....not "except". Except actually means the opposite.

[pooya87]

usually the businesses already exist and work with fiat and then add bitcoin option. and then these businesses treat bitcoin with its fiat value. so if you accept $20 worth of bitcoin today for example, as a refund you will pay $20 worth of bitcoin back. as long as you are transparent about it and mention it clearly to your customers i don't see any issues.

but if you are fully working in bitcoin as above comment said you can forget about fiat values. specially if you are not immediately converting the received bitcoin back to fiat. you receive 0.01BTC and refund 0.01BTC for example.

[soronmar]

What happens after 20 days and they want a refund in bitcoin? If bitcoin has gone higher or lower during that time, how do you figure out the refund amount?

The same thing applies to Steam.
You can pay on Steam with Bitcoin but if you are asking for a refund they will just give you a credit voucher for the exact amount you have paid.
To make an example:

You buy a game on Steam with Bitcoin and pay 0.01 BTC for it. This equals at the moment around 36$.
Now you are asking for a refund and than they will give you a voucher for 36$ and keep your BTC.
Maybe you can use the same method?

[BTCGOLD]

What happens after 20 days and they want a refund in bitcoin? If bitcoin has gone higher or lower during that time, how do you figure out the refund amount?

The same thing applies to Steam.
You can pay on Steam with Bitcoin but if you are asking for a refund they will just give you a credit voucher for the exact amount you have paid.
To make an example:

You buy a game on Steam with Bitcoin and pay 0.01 BTC for it. This equals at the moment around 36$.
Now you are asking for a refund and than they will give you a voucher for 36$ and keep your BTC.
Maybe you can use the same method?

Has anyone already tried it so well? I am curious how it works. I wanted to try once but did not realize the cost. If anyone is sure please let me know. Thank you!