We should learn about bitcoin before accepting it as payment

[Fiasem20]

I don't think the issue is learning Bitcoin. I believe the shop owner knows what he is doing. So i pay for something. And I was supposed to get it that minute. Just because inflation hit that moment I should add extra money. Looks like me and you will enter the same trouser.

How was the sale priced? You priced something at an amount and changing it just because I sent you money. Giving excuses the rate has dropped. It's like, it's like........They played your guy.

For me as long as you are accepting Bitcoin as payment. Be ready for the fluctuation or you accept fiat currency and to buy Bitcoin yourself. Nobody should get me angry.

I could tell how provoked you were when you wrote this,honestly that arrant is nonsense and that merchant shouldn’t try that to other customers because he might lose potential customers.Infact no matter how enthusiastic I am I would always pay with fiat currency not because I don’t want to utilize my bitcoin for payment purposes but I am concerned about my safety.Some merchants might send attackers to chase after you and steal your coins from you,anything can happen or probably I am just overthinking at this juncture.Lastly,to avoid disagreement from sellers it would be better if you make your payment in fiat and hold your bitcoin in your wallet.

[EL MOHA]

Is actually same thing . So for instance the amount we paid was $50 , which is actually 0.0005 BTC assuming Bitcoin is around the range $100k , so you are saying if I send the 0.0005 BTC which is $50 and the price of bitcoin drop I’m going to top it up how? . The guy literally sent bitcoin address , and the reason I use $1+ instead of BTC is because is quite easier to show the amount the fee was at that moment. After everything I told him next time is better to use stable coin and he was like yeah he also do receive through that means so the guy literally know what his doing , which force me to tell him that next time he should use stable coin instead to avoid stuff like price fluctuations.

Like I said Mate, it depends on the agreement. Let me put it for example what was the price you saw on the goods? Was it simply $50 or let’s say in naira 70k and the payment options then you saw was credit card and then bitcoin? If at such you must then make sure that the equivalent before it getting to the seller is first communicated because if it is not then you have situations like what just occurs if the price falls. In your own reasoning which you are definitely right about is that the amount dropped while it was yet to be confirmed but the seller also would’ve not be sure you sent the complete payment at first and I gave a perfect example using signature payment as a case study.

So we have vendors in Nigeria that accept Bitcoin for services, this is interesting because I know for a fact that a Nigerian will not pay $1 as transaction fee, that's $1380 if you convert it to NGN. That alone is a big money to everyone and as a shop vendor he accept Bitcoin not even stable coins and to say the guy didn't accept internal transaction which people do often, you see people send Bitcoin using exchange through internal transaction without any fee.

I have always said that it will be difficult to see bitcoin payment been accepted in Nigeria, except in very large amount payment but little payments? I doubt, beyond the fees alone you have confirmation problem too. I think if second layer networks becomes a thing maybe it will be possible but right now I doubt

[Derekfunds]

I could tell how provoked you were when you wrote this,honestly that arrant is nonsense and that merchant shouldn’t try that to other customers because he might lose potential customers.Infact no matter how enthusiastic I am I would always pay with fiat currency not because I don’t want to utilize my bitcoin for payment purposes but I am concerned about my safety.Some merchants might send attackers to chase after you and steal your coins from you,anything can happen or probably I am just overthinking at this juncture.Lastly,to avoid disagreement from sellers it would be better if you make your payment in fiat and hold your bitcoin in your wallet.

The fact that Bitcoin needs to be known doesn't mean we should be the one to do that and there by putting ourselves into serious problem, I don't know what makes the dude to even think of using his wallet to transfers Bitcoin to someone after knowing that Bitcoin is an asset that people place so high. If the person is a member of the bad gang he can assume this folk has funds in his wallet which has caused unnecessary awareness. I will advise folks here not to try this, fiat is okay and it is generally acceptable.

[Hardyrobust]

From your story it maybe that the shop owner was only being greedy and not that he didn't understand how bitcoin transactions works. Although you are right, it is good to understand how bitcoin works before using it for transactions to avoid being exploited by some greedy fellows. So your friend should not have accepted to send any other bitcoin to him and would have explained to the man the reason for the decline in price , probably the man maybe thinking that your friend is a novice that doesn't understand bitcoin volatility.

[Creeper0]

Price fluctuations during Bitcoin payments are a big problem, the price of Bitcoin can decrease and increase before the payment is completed. Since no shopkeeper will refund the extra money if the price of Bitcoin increases, why should I pay extra money if the price decreases? This is like a kind of fraud. I will never agree to make Bitcoin payments according to the rate, because I may also face controversy like you.

For Bitcoin payments, I may agree to pay by determining the amount of Bitcoin. Maybe I will determine an amount of Bitcoin according to the current rate, then no matter what happens in the market, that price will not change. If the price increases, the profit is for the merchant, if the price decreases, the loss is for the merchant. For example, suppose the price of a product is $65, according to the current rate, I may have to pay 1mBTC in Bitcoin, I will make a contract with the merchant for 1mBTC, market volatility will not play any role here.

[Odogwu-Blockchain]

The post has negative and positive results about crypto in it, and many times, we've discussed about the both many times in the forum

Positivity; that Bitcoin is now reached to everyone as a means of payment even to a phone purchase center, that's incredible and good thumbs up for that.

Negativity; that Bitcoin cannot and can never be used as a global form of payment for purchasing goods and services because of its fluctuation ability, only stablecoin can serve this purpose without any complaints from both sender and receiver.

If I was your friend, I wouldn't have sent again because the decrease in value due to price is not my fault, some goods seller will retaliate which may cause fight, but truth be told, Bitcoin isn't good for this purpose, stablecoin is.