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Author Topic: Implementing Bitcoin Big problem?  (Read 727 times)
LionLord (OP)
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January 04, 2015, 04:00:41 PM
 #1

Hello, we need some help regarding the use of bitcoins in a new platform that i can't disclose for now.
The problem is, we can implement it in one of two situations already, so the problem remains with the part two.

The part two is the part that allows people to purchase something in our platform, with bitcoins, and the problem is the volatile part of the bit coin.
For ex:
(Lets pick facebook diamonds for this example.)

If i buy lets say 100 diamonds, and this cost me 100 euros.
So after i purchase this, facebook holds this 100 euros, till i start spending them in games for example.
So now im starting spending my diamonds in some games, lets say after a mouth, i spended 60 diamons in game1 and the rest (40) in game2.
After i spend some or all of my credits (facebook diamonds) in the above described, facebook now needs to pay to this game owners the equivalent credits that i spent in each game.
(Lets put aside the percentages and that stuff, lets supose that facebook pays 100% without profits)

So, what i mean is, if i buy my stuff like diamonds in facebook with paypal, credit card and all the existing solutions that people is used too, there is no problem related to the values that will trade later on, what i mean with this is:
Today 100 diamonds value is 100 euros right? (ex)
after a mouth, facebook the money holder as 100 euros to pay to the game owners.

With Bitcoins, there is a problem.
If the above happens with Bitcoins, when it comes to Holde the bitcoins and then after some time pay in real money or in bitcoins to this game owners, we cannot have 100% sure that we have that money value to pay back later on, and this problem, dont allow us, to use Bitcoins to allow our users to purchase stuff, because of the volatile risk.

I dont know if there is a solution to adress this with business that want to use bitcoins, if there is one, please help me understanding how i can do it.
Other wise i have a solution but of course i will need your advice, its called "LoopDelay" (wanted to avoid this because will consume alot of my time to this insted of the current project that i am on right now, and still dont make a decision if i will spend time in it, because we dont need bitcoin, we just want to have it because we like it.

Ps: Sorry for any gramar mistakes, for now i will just post it like this to go along with the feed back thank you.
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Rannasha
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January 04, 2015, 04:20:45 PM
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You're looking for a payment processor such as BitPay or Coinbase (several others exist too, perhaps one specialized in your country). They will take Bitcoin payments for you and pay you in local currency (USD, EUR, several others) at the rate at the time the purchase was made.

You can specify that you want 10 EUR/USD/etc... for a payment, the processor will present the customer with a BTC amount and once the BTC bill is paid, you are credited with the 10 EUR/USD/etc... (minus any fees, if any).
LionLord (OP)
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January 04, 2015, 04:33:41 PM
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Ok, glad to know that is already solved then.

So if i understand correctly, this other payment methods, work like holders?
I mean , they take the bitcoins from the user, and in the same time they exchange the bitcoins in any currecy like euros, and give me back the respective amount?

If that is just like that, and it is fast enough and will not have any loses in the values when exanged, then its ok. We will one of that payment methods.
And if there is some tax buy using that service, that makes sense ofc.. we later will implement ours to have no taxes.

Well, cool then, i will get a look in that other payment methods, thank you.
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January 04, 2015, 05:10:12 PM
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Ok, glad to know that is already solved then.

So if i understand correctly, this other payment methods, work like holders?
I mean , they take the bitcoins from the user, and in the same time they exchange the bitcoins in any currecy like euros, and give me back the respective amount?

If that is just like that, and it is fast enough and will not have any loses in the values when exanged, then its ok. We will one of that payment methods.

Yes that's how payment processors work. They're just like regular payment processors really and you get the fiat cash payment straight away. They're great for people like you worried about price fluctuations but for me its nice to keep bitcoins as an investment but I understand when people cannot afford to do this.
LionLord (OP)
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January 04, 2015, 05:30:36 PM
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The reason that we cannot keep it as an investment, is because it is a business and we just want to have the option for bitcoins as a payment method Smiley
To keep as an investment that money or transactions , should be private and or only for one person willing to take risks, and ofc when there is no need to make payments back to someone.

Thanks for the fast helpful support.
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January 04, 2015, 05:54:05 PM
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The reason that we cannot keep it as an investment, is because it is a business and we just want to have the option for bitcoins as a payment method Smiley
To keep as an investment that money or transactions , should be private and or only for one person willing to take risks, and ofc when there is no need to make payments back to someone.

Thanks for the fast helpful support.

I understand that. Most business do as you do, though there are some that keep either all their coins or a small amount (Computer Exchange and Overstocks respectively). Good luck and good going for accepting btc at your business. Hope it works out for you.
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