Keeping online Bitcoin prices consistent with fiat.

[desantos]

Hi,

At the moment I have finished my online store and I am ready to open, however, one thing I am a little lost on is the current price fluctuations in Bitcoin.

Lets say on Monday my product is worth $9.99 in BTC and then the price in BTC drops by Friday.  How do I track the BTC price to reflect $9.99 consistently.  At the moment the only way I can think of doing this is manually, but that might be a bit tedious every day.

I currently use OpenCart plugin on my hosted store.

Thank you for any help on this.

[RodeoX]

I'm not sure about OpenCart, buy many payment processors or shopping cart implementations have a price tracker built in. Perhaps there is an additional plugin for this? The problem for even an automated system is what price to use. In reality there is no official price for bitcoin. You could choose to use a 1, 7, or 30 day weighted average of popular exchanges; or you could do something else.

If you have to do it manually, you could just post on your site that you use the google price (or other) and let the customer do the math. Most places I shop that do their own payments only display the dollar price and calculate the bitcoin total when I place an order. Normally I receive an email with both prices and an address to send to. After a confirmation I usually get another email with the Tx number. But at other places they say the total and I pay without doing a conversion. I'm actually starting to think "how many bitcoin is that?" rather than "how many dollars is that?"

 

[desantos]

Aaaah, I see... So at the moment the payment plugin I am using is Bitpay.  But I can't see anything on Bitpay that would enable me to list in $$$ and then at payment time to pay in BTC... maybe I am missing something, however I would really like to just display BTC prices as my store has a narrative of just being BTC only.

Thanks for your suggestion.

[RodeoX]

Aaaah, I see... So at the moment the payment plugin I am using is Bitpay.  But I can't see anything on Bitpay that would enable me to list in $$$ and then at payment time to pay in BTC... maybe I am missing something, however I would really like to just display BTC prices as my store has a narrative of just being BTC only.

Thanks for your suggestion.

I'm a little more familiar with BitPay. I think the customer does not see the price in bitcoin until the checkout process. Look at this example:
https://bitpay.com/bitcoin-digital-content

If you click on the price denominated in dollars and Euros you will see the price in bitcoin. It also displays the receiving address in text and as a QR code. Hope this helps.   

[Mieehayii]

Unless you want your commodity prices in points of volatility

[Vod]

Hi,

At the moment I have finished my online store and I am ready to open, however, one thing I am a little lost on is the current price fluctuations in Bitcoin.

Lets say on Monday my product is worth $9.99 in BTC and then the price in BTC drops by Friday.  How do I track the BTC price to reflect $9.99 consistently.  At the moment the only way I can think of doing this is manually, but that might be a bit tedious every day.

I currently use OpenCart plugin on my hosted store.

Thank you for any help on this.

http://www.opencart.com/index.php?route=extension/extension&filter_search=bitcoin

[desantos]

Aaaah, I see... So at the moment the payment plugin I am using is Bitpay.  But I can't see anything on Bitpay that would enable me to list in $$$ and then at payment time to pay in BTC... maybe I am missing something, however I would really like to just display BTC prices as my store has a narrative of just being BTC only.

Thanks for your suggestion.

I'm a little more familiar with BitPay. I think the customer does not see the price in bitcoin until the checkout process. Look at this example:
https://bitpay.com/bitcoin-digital-content

If you click on the price denominated in dollars and Euros you will see the price in bitcoin. It also displays the receiving address in text and as a QR code. Hope this helps.   

Thanks... got the process now...

Thanks to all.