This is how I see the assembly refunds.
For example, lets say I payed 5 BTC for assembly. When Bitcoin was worth $100 USD.
TOTAL: I payed $500 USD for assembly.
If Bitcoin dropped to $10 USD,
His words clearly would NOT be "Here's your 5 Bitcoins. Too bad :\ $50 your loss"
Because, that is theft even under his own words of returning it back "based on USD."
In other words, he would have to give back 50 Bitcoins. Cause I payed $500 for assembly. NOW HOLD ON A MINUTE...
HERES THE GRAND, COURT CASE EXAMPLE:
But let's say I'm a big money spender and Steamboat is a high-end big factory mass producer and I ordered a ton of asic machines from him and payed $10,000,000 USD (I.E. 100,000 Bitcoins) for the Assembly. Oh, and by the way, say 29 of my other friends also spent $10,000,000 USD EACH on Assembly (I.E. 100,000 Bitcoins EACH).
AND NOW WE WANT OUR REFUNDS:
He would have to fork out all my friends and I, our total $300,000,000 worth of USD at a dropped Bitcoin value.
Oh no?!? Bitcoin dropped to $10?
Well... We are getting it back based on the $300,000,000 USD assembly we payed.
He would have no problem "returning" me and my friends 828,729 BTC if a bitcoin is worth $362 (as it is now), as opposed to if a bitcoin is worth $10, in which he would have a huge problem "returning" $300,000,000 assembly.
Want to know why? IT WOULD BE 30,000,000 BTC THAT HE MUST RETURN.
Fact: ... THERE ARE ONLY 21,000,000 BTC EVER TO EXIST.
This many bitcoins at this USD value does not even exist! HOW DO WE GET OUR MONEY BACK BASED ON USD WHEN THERE AREN'T EVEN THAT MANY BTC THAT EXIST?
If the coin takes a loss, we take our loss. If the coin takes a gain, we take our gain.
We payed a certain amount in bitcoin. We get that EXACT amount in bitcoin.
5 BTC PAYED = 5 BTC RETURNED
Also, our BTC on "USD-based" assembly IS NOT to be converted to USD on an assembly that was never executed.
In other words, if I give him 5 BTC for assembly that never occurred, then he has been sitting on 5 Bitcoins that were never used for anything at all this entire time.
Thus, another reason that the unique pretty stone we give him, is the unique pretty stone we get back.
And besides, I'm not even a money guy. I deal with bitcoins. I don't even need cash. I would just like my bitcoins back.
I know you'd love to get a refund based on btc, but that's not possible if bit pay converted everything to btc for steamboat. he's not going to sell his house to pay you.
If he had processed the refunds in a timely fashion like he should have, he wouldn't have to, now would he?
How is that our fault?
Why should I have to accept a fraction of what I gave
for a service that was never provided? That assembly and hosting money should never have been converted to fiat in the first place as there was
nothing to assemble or host at the time.
Still, like it or not, I know damn well we're not getting our BTC back. So the best possible outcome is to
get these refunds processed as soon as possible, before BTC is $1,000 each and we end up with 0.01 or some shit.
Time has NOTHING to do with this. The common sense, absolute point I am making here:
If it dropped to $10 each, and a customer wanted $500 assembly back, I know for damn sure, that if I was Steamboat, I could, and would, easily get away with:
Returning a customer only 5 BTC and telling him "Hey, I returned the money at which it is based USD '$100' per BTC". "What you payed for."
... Just as easily as getting away with,
Return a customer only .05 BTC and telling him, "Hey, I returned the money at which it is based '$10,000' per BTC." "What you payed for."
In BOTH cases you are put into a frame of mind that you are getting back what you payed when you are clearly NOT.
In this example, if he were to give back assembly refund at .05 BTC at a high BTC value, he MUST give back 50 BTC at a low BTC value, right?
But you say, "EXACTLY, which he WOULD give back 50 BTC at a low value of $10 each to makeup for your $500 Assembly cost, because Steamboat is a trustworthy guy!"
WRONG Wrong WRONG Wrong WRONG!
He CAN'T give back 50 BTC at a LOW VALUE worth of $10 each to satisfy $500 Assembly
Why??? If 200 thousand of us wants this same amount refund back, he would have to give back an impossible 10,000,000 BTC (~%80 of ALL the BTC that exists right now in circulation)
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In other words that a child could understand:
Your family generation shotgun that you trade to him for a laptop that he is assembling, IS NOT going to be 1/5 piece of your shotgun returned to you when the assembling fails, most especially if you get NOTHING for it.
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More importantly, it is like I said before, if you give 5 BTC for assembly that never occurred, then he has been sitting on 5 BTC that were USED FOR NOTHING at all this entire time.
As much as people would like to believe it is a currency, no one understands that Bitcoin is a trade commodity just as you would trade a whole orange for someone to go look for a couple bananas for you.
If he fails at finding the bananas, then there is no reason for him to come back returning only the orange peels to you saying, "Sorryy... I got hungry."
