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Brushless4500KV

How do you promise people to pay money on time with crypto? I faced this problem.

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On 1/21/2020 at 12:17 PM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

If you want to pay someone through crypto then always try to pay with stable coins. I think everyone would face this problem due to volatility of coins.  Just accumulate some coins and convert them into stable coins for future payments. Even you could follow the solution to pay them in btc instead of usd. 

 

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It's really hard to believe when the payment is done online and it is scheduled, transactions should be payment first before the service or payment and service at the same time. If the service goes first there is a high chance that the people who offer the service will be scammed.

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On 1/30/2020 at 11:17 AM, Dekay said:

First of all if you want to pay 30$ then always take a margin of 3-4$ in both upper and lower limits for example u have to pay 30$ earn 34$ if price rises then it will be ur benifit if price didnt rise then at least u wont get loss

Unfortunately, USD has occupied people's minds and this applies to crypto fans too. When you tell someone about a certain amount of money in bitcoin, he will automatically converts it to Dollars in his mind to have a transparent view of how much money you are talking about. The margin of $3 or $4 you mentioned is not a fixed amount and sometimes this may increase to more than $5. There is still not a viable solution for this and you have to pay in USD or USDT to be safe from fluctuations.

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I haven but there has been sometime I have not been able to make something out of what I had in the market of crypto , though to me it became the expensive transfer system so to me I lost everything there is a lot of good that we have to work with its the best effort we need to follow we need to use ripple its really one of the best effort we have out there

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This is a really real problem, but to solve it from the beginning you have to agree with the other party if you will send them to him in exchange for bitcoin or the dollar or divide the difference between you and the other party

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On 1/21/2020 at 2:47 PM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

My opinion to this is that you can convert it to dollar first before paying . Or just declare it on BTC and then pay it on BTC and your friend will decide when to convert it on USD. But if you like don't pay it at all and run with his money. But that is very bad because your credibility is on the line with that. The best thing is that we should always have an extra amount on our wallet for our payment in case there will be a change on the value of bitcoin. Then if you have an extra amount of bitcoin you can still pay him.  

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I think, promise is promise ...you make promise you should  fulfill ur promise.cryptocurrency unstable payment system where collected coins or payment than u give it...

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Well the exchange use a time frame maybe 5 mins before you lock in the exchange rate. If you dont complete the transaction within 5 mins then the price is revalued. So i guess you have to do that in real life as well before you make any trade. 

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You're absolutely right mate. The price differences can make sometimes big mistakes by us. We should always think for the future and also see the votality of the market. 

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I just exchange bitcoin for Fiat if I know that I will need to pay something using Fiat, since the price of bitcoin is unstable, you need to constantly do so.

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On 2/13/2020 at 5:25 PM, Penenche said:

If you want to transact in bitcoins, you ought to imply and set up the value in bitcoins, and not in dollars. You move to the seller’s account precisely bitcoins, not dollars. To negotiate a deal, you necessity lone in bitcoins and set up it at the time of the transaction. afterward fire the indicated quantity of bitcoins. 
 

How can I calculate the amount I want to pay in bitcoin while the person I want to pay knows nothing about bitcoin? He only knows USD and only understand values in USD. This is exactly the problem I faced. If my friend was a bitcoiner, I had no problem because I could easily transfer bitcoin from my own wallet to his wallet. I think we should only promise people to pay in USD when bitcoin price is high because only in this case we can pay less bitcoin to receive its equivalent in USD.

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On 1/21/2020 at 7:47 AM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

I think you're the one with an issue here, because you guys never had an understanding the deal would be based on Bitcoin and not dollar. If you got him to accept that in the first place, you solved the problem, but you didn't, so you got to bear the extra burden. What you have above is one of the reasons a lot more merchants are unwilling yet to adopt Bitcoin as mode of payment and the ones that did, will immediately have them swapped to fiat currency.

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Much volatility of bitcoin price always even in few minutes it's price difference more then 100$ and we loss or earn very quickly from this market but it is necessary to be experienced .

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On 1/21/2020 at 11:47 AM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

I also pays in BTC some times but for that i used trading and tell in advance the payment can be delay for few hours.This happens to all crypto users but we have to arrange extra money in cash .

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15 hours ago, Shahzad Fazal said:

it is very difficult to pay with crypto when you promise to someone because people truly dont believe on any body because they are fair of being scammed so that's why you don't have to promise anybody 

mainly in crypto i think we should not do any private transaction and people dont trust anyone here because there are many scammers.

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I think that it is not right to pay by crypto if you borrow fiat money. It is normal to the person to feel awkward if you will promise that you will pay thru crypto currency since not all the people is knowledgeable about the system.

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You be obliged to gave him boundary as an unorthodox of place amount. Volatility of bitcoin level affects both means anyhow of how enormous your money.
 

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This is one of the problem and limitation of crypto currency in implementing it as a global crypto currency. I guess we avoid using crypto currency in this type of transaction in which the product is only applicable in stable prices because the value is unpredictable. But all in all in a perfect timing, crypto currency is the best way in buying goods.

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the price of Bitcoin depends on the merchant, even if your friend lends 10 $ at that time, but you will return more than that
 

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If you work on this cryptocurrency and if you have a problem with your money then I would say that you must use the cryptocurrency injustice chamber Exchanger is the best they can be. Thank you very much for sharing this topic with us.

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Hello my dear friend. In my opinion the volatility issue won't be fixed when it comes to crypto currency. This issue can happen with anyone also you can suffer you loss but sometime you get benefits as well. 

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The answer is simple, I don't borrow money from people in order to not make my payments as bitcoin, or I buy them at the dollar price. if If I do BTC indexed I will hurt at the end 

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Personally, I would love to be paid in crypto. I don’t understand why this is even a concern? Yes it is volatile but it’s long term trend is up. If you believe it will lose value quickly than just exchange it for fiat?

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4 hours ago, SHAABAN199 said:

Hello my friend
I don't buy anything before the money is in my hands
So first sell your bitcoins, then buy for the amount you own

The problem is that I don't want to sell bitcoins. I want to pay through bitcoin! If I had cash, it would be no problem regarding exchange rates. I once tried to use bitcoin like a currency for my payments and I encountered this problem. My own solution for this problem is that this method is only possible if both parties (sender and receiver of the money) have bitcoin wallets and only work with bitcoin and calculate the amount in satoshis not USD. We can't use more than one currency as the basis for payment.

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    • Итак. Вы решили подключить на свой сайт платежку и столкнулись с вопросом: какие бывают платежные шлюзы?   Все платежные решения можно разделить на 4 категории. Первые 2 категории достаточно трудны в реализации и их использование может вызвать лишь дополнительные проблемы, но проигнорировать их мы не можем:   Собственная платежная система   Это, пожалуй, самое трудно в реализации решение. Без своей команды разработчиков, которые создадут и будут поддерживать платежную систему, не обойтись. При этом придется разобраться в огромном количестве тонкостей этой сферы. На выходе, попытка сэкономить на комиссии готовых решений обернется еще большими расходами и потерей времени. Подойдет, пожалуй, только для очень крупных компаний со своим штатом разработчиков.       Платежный шлюз от местного банка   Крупные компании, работающие в одном регионе могут смело подключать шлюзы от банков. Если же компания работает в нескольких регионах, такое решение будет не лучшим, так как для каждого региона придется подключать отдельный банк, а это накладно и с точки зрения разработки и с точки зрения времени, потраченного на сбор документов и открытие компаний в каждой стране присутствия.     А вот оставшиеся два варианта – это то, чем пользуются компании из разных стран и работающие в разных направлениях: от сервисов по приему СМС и продаже цифровых товаров, до крупных Gambling и Betting-компаний, которым нужно быстро и четко обрабатывать платежи из разных стран.     Внешний шлюз   Отличное решение для компаний, которые работают в нескольких регионах, либо по какой-то другой причине не могут, или не хотят подключать шлюз от банков. Именно это решение в последние годы использует большинство представителей мелкого, среднего и даже крупного бизнеса. Оно наиболее простое и подключить такое решение можно в считанные дни.       Встроенный по API шлюз   Второе по популярности решение. Оно смотрится максимально органично для покупателя, ведь все действия будут происходить в рамках одного сайта, без лишних редиректов. Но в данном решении продавцу придется самостоятельно разработать страницу для приема платежей, подключить обработку платежей через API платежного сервиса, а также позаботиться о сохранности платежных данных, если они будут собираться в рамках выбранного платежного метода.     Кстати, оба варианта доступны в процессинговом сервисе MoneyGate. Подробнее на сайте: Moneygate.biz
    • CryptoNews of the Week     – The Republican candidate for the upcoming US elections, Donald Trump, has declared his intention to become the "cryptocurrency president." Speaking in San Francisco, he presented himself as a defender of digital assets and criticized Democrats' attempts to regulate the industry. According to Reuters, Trump raised $12 million for his campaign at an event for venture capitalists from Silicon Valley, organized by Chamath Palihapitiya and David Sacks at Sacks' mansion in the Pacific Heights area. Media reports indicate that executives from the crypto exchange Coinbase, the founders of the Gemini trading platform, Cameron and Tyler Winklevoss, and other industry representatives were present at the event. Intercom CEO Eoghan McCabe shared on X about his participation: "I spoke with six people there. None identified as Republicans. All had voted for or donated to Democrats in the past. Now they support this guy [Trump] for his policies on war, immigration, cryptocurrency, and more. These elections are a referendum on these issues."   – The attitude towards cryptocurrencies will be a key difference between the candidates for the US presidency, Donald Trump and Joe Biden, though neither understands the topic. Billionaire Mark Cuban stated this: "Do you really think [Trump] understands anything about cryptography beyond making money from selling NFTs? Neither candidate understands. But I've often said that Biden will have to choose between [SEC Chairman] Gary Gensler and crypto voters, or it could cost him the White House."  Discussing the upcoming elections on X, ASI crypto-lawyer Preston Byrne noted that Trump's crypto policy is "actually very substantial and well thought out, while Biden's approach is insane and punitive."   – The "Intelligence Authorization Act for Fiscal Year 2025" was submitted to the US Senate on 3 June 2024. On 5 June, Senator Mark Warner's strategic amendment to this bill was published on the social network X, granting the US president new broad powers. This allows the president to "prohibit any transactions between any person under US jurisdiction and foreign intermediaries in digital asset transactions."  Financial lawyer Scott Johnsson criticized the law due to its wide scope. He sees it as an attempt to control digital assets under the guise of fighting terrorism, as the amendments added by Warner are borrowed from the Anti-Terrorism Financing Act.   – Late in the evening (CET) on 12 June, the FOMC (Federal Open Market Committee) of the US Federal Reserve will decide on the dollar interest rate. Historically, such decisions have always significantly impacted bitcoin's price. In this regard, ChatGPT-4o AI was tasked with forecasting BTC's price based on technical analysis and financial analysts' assumptions.  According to the AI, bitcoin will trade in the $68,000-73,000 range. However, a rate cut or hints of an upcoming reduction could push BTC beyond this range. In this unlikely economic scenario, ChatGPT-4o predicts the leading cryptocurrency will trade between $73,000 and $75,000 or higher.   – Over the past few days, the crypto market leader has lost nearly 10% in value. Many experts believe this is due to investors' concerns that US inflation will remain high for a long time. Under such conditions, a quick easing of the Federal Reserve's monetary policy is unlikely. Enthusiasm was also dampened by the fact that spot bitcoin ETFs broke a 19-day streak of investment inflows. On 11 June alone, industry funds lost nearly $65 million. MN Capital founder and analyst Michaël van de Poppe noted that investors are acting more cautiously ahead of the FOMC meeting on 12 June. He does not rule out that seller pressure will persist in the near term. Under such conditions, bitcoin could correct to $65,000. However, van de Poppe does not expect a deep price drop, as significant liquidity is concentrated around the $60,000 mark, indicating strong support, and positive dynamics could be supported by geopolitical instability.   – Traders note that "digital gold" has recently been trading within a narrow range of $66,000 to $72,000. One popular market participant considers the lower boundary an ideal entry point, while entry at the upper boundary carries high risk.  Despite recommended caution, over 70% of the crypto community participants in several surveys believe BTC is on the verge of continued growth. For example, a trader nicknamed Captain Faibik is confident that bitcoin is preparing to break out of the "expanding wedge" technical analysis pattern. Breaking above its upper boundary, in his opinion, will open the way for the cryptocurrency to rise above $94,000. Trader Titan of Crypto, in turn, expects bitcoin to reach $100,000 this summer.  Community participants also point to the activity of large investors as a sign of BTC's growth potential. Whales, according to crypto industry representatives, are actively taking long positions in bitcoin. Cryptoquant CEO Ki Young Ju noted that the $69,000 level has become particularly attractive for large investors.   – By the end of 2024, the first cryptocurrency will be worth between $125,000 and $135,000, according to BitGo CEO Mike Belshe. He believes that one of the catalysts for bitcoin's growth will be the high level of US national debt. "Our macroeconomic climate continues to confirm the necessity of bitcoin. Without a doubt, the US national debt is out of control. […] This situation supports the idea that bitcoin is the gold of the new generation," Belshe said.  He also noted that the US dollar is losing its position as the world's reserve currency due to US foreign policy. The BitGo CEO believes that the country uses the dollar as a weapon and a tool for manipulation. "Thus, the US national debt crisis is one thing, foreign policy and sanctions control is another. And BRICS is providing alternative payment systems. […] This is the story of why bitcoin exists," he concluded.   – The new Binance CEO Richard Teng, who succeeded Changpeng Zhao, believes that bitcoin will soon exceed $80,000. Teng associates the potential new high with the launch of spot BTC-ETFs traded on stock exchanges. This has strengthened trust in the asset, and retail traders and institutions no longer perceive it as risky. The Binance CEO also suggests that cryptocurrency legalization is possible if Donald Trump is elected president of the United States. Declaring himself a "crypto president," Trump stated in May that the US should lead the global crypto industry.   – The self-proclaimed first resident of Bitcoin City, American Corbin Keegan, left El Salvador without seeing his dream city begin to take shape. In November 2021, El Salvador's President Nayib Bukele announced plans to establish a crypto settlement. Upon hearing this news, Keegan left Chicago and headed to the South American country to become Bitcoin City's first resident. However, his patience eventually ran out, and he returned home.  The project's implementation was likely frozen due to a lack of funding. Bukele wanted to raise the necessary funds through the sale of "Volcano Bonds." These securities were planned for release in Q1 this year, but for various reasons, they did not see the light of day. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Cardano Node 9.0 будет запущен в июне и подготовит платформу к форку Chang   Cardano Node 9.0 будет запущен в июне. Это обновление подготовит платформу блокчейна к долгожданному форку Chang. Основатель Cardano Чарльз Хоскинсон сообщил об этом событии на X. Хоскинсон отметил, что хардфорк может произойти после того, как 70% операторов стейкингового пула (SPO) установят новый узел. Это приведет Cardano в эпоху Вольтера, ознаменовав состояние полной децентрализации — огромную веху для сети и всей индустрии блокчейнов. Хоскинсон назвал это самым значимым событием в истории Cardano.   Хоскинсон описал путь развития за последнее десятилетие, заявив, что создание Cardano было похоже на строительство нации. Он выразил гордость за сообщество и оптимизм на будущее. Хоскинсон считает, что Cardano дает надежду отрасли и всему миру, и призвал всех оказать значительное влияние в следующем десятилетии. Три дня назад основатель прокомментировал несоответствие между восприятием СМИ и реальным прогрессом Cardano. Он раскритиковал криптовалютные СМИ за непризнание достижений Cardano.
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