How do you promise people to pay money on time with crypto? I faced this problem. - Page 2 - Crypto World - CryptoTalk.Org Jump to content
Brushless4500KV

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

Recommended Posts

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. 

 

  • +1 1

Share this post


Link to post
Share on other sites

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.

  • +1 1

Share this post


Link to post
Share on other sites
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.

  • +2 1

Share this post


Link to post
Share on other sites

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

  • +1 1

Share this post


Link to post
Share on other sites

 

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

Share this post


Link to post
Share on other sites
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.  

  • +2 1

Share this post


Link to post
Share on other sites

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...

Share this post


Link to post
Share on other sites

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. 

  • +1 1

Share this post


Link to post
Share on other sites

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. 

  • +1 1

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

  • +1 1

Share this post


Link to post
Share on other sites
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.

  • +1 1

 

 

Share this post


Link to post
Share on other sites

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 .

  • Useful or interesting 1
  • +1 1

Share this post


Link to post
Share on other sites
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 .

  • Useful or interesting 1
  • +1 1

Share this post


Link to post
Share on other sites
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.

  • +1 1

Share this post


Link to post
Share on other sites

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.

  • +1 1

Share this post


Link to post
Share on other sites


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.
 

Share this post


Link to post
Share on other sites

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.

  • +1 1

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

  • +1 1

Share this post


Link to post
Share on other sites

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. 

Share this post


Link to post
Share on other sites

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 

  • +1 1

Share this post


Link to post
Share on other sites

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?

Share this post


Link to post
Share on other sites
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.

  • +1 1

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Надежный и удобный обменник. Никогда не подводил, всегда выполняет транзакции быстро и без лишних проблем. Заявки обрабатываются почти мгновенно. Спасибо всей команде.
    • Сам тоже думаю не садиться в этот поезд, а то пошёл там выполнять их задания в Гелакси и только сбои да сбои, надоело там раз разом крутить кнопку проверки. Почему всё так происходит не пойму, полностью отбили мотивацию.
    • Если их машина по сжиганию будет работать отлично, то и токен будет в будущем расти из-за сокращения его огромного количества. Пока как знаю дела в этом направлении идут не плохо, но рост конечно идут за счёт Битка.
    • Да это уж многих удивило, сам тоже увы не в теме, хотя крос у меня стоил 10$, если был бы 100$, то точно зашёл бы в тему с ремонтом, а там уже каждый день за 20 дайсов мог бы получать по 0.5$ за 20 секунд.  Кстати у вас всё ещё видны ваши кеды ? Их можно ремонтировать 🤔
    • Да, типа это пользователи так сделали, что форум на дне, а ведь с самого начала нужно было понять, что на одной оплата так далеко дело не пойдёт. Нужно было с самого начала работать над качеством пользователей и жёстче бороться с ботоводами, мотивировать на создание топиков, дать возможность размещать реф ссылки во всех разделах форума, в том числе и сокращение ссылки, подключить рекламу к форуму, если так плохо дело с подписанными. И это только начало списка, где всё это можно реализовать, но нет никаких действий очень долгое время.
    • Отлично, что и у вас получилось, теперь можно будет вникать в тему, где как заметил сами их квесты много времени не отнимают, ну кроме проверки. Сделал всё, оставил на час или вообще зайдёшь завтра и уже можно минтить поинты.
    • Если так будет, то шансов на успех скорее всего будет не многовато, когда рынок может пойти на дно и даже Лаунчпад на Бинансе особо то не сможет помочь проекту. Хотя будет надеяться на то что всё пройдёт хорошо и после халвинга не будет сильный спад рынка.
    • Из-за чего про них будут помнить ещё несколько сотен тысяч пользователей, которых они не хило кинули. А всё могло быть иначе, если разработчики распределились с дропом получше как и вообще самим листингом токена.
    • Принимайте high risk платежи со всего мира с помощью Paykassma   Ведущее решение для обработки платежей в Индии, Бангладеш, Индонезии, Вьетнаме, Южной Африке, Бразилии и многих других странах с 2019 года   3,2+ млрд потенциальных клиентов на самых перспективных рынках ждут вас   100+ локальных платежных методов в одной интеграции: bKash, Nagad, Upay, Rocket, PM, PhonePe, UPI, UPI S, IMPS, PayTM, Easypaisa, Jazz Cash, Skrill, Neteller, Vietin Bank, Visa, Mastercard и многие другие   Попробуйте Paykassma сегодня!   Рост конверсии +20% Увеличение оборота x100 за неделю 99.9%+ успешных платежей Без роллинг резервов Без холдов Расчетный период T+0 Поддержка 24/7/365    Моментальный прием платежей, выплаты пользователям и вывод средств в BTC/USDT или через банковский перевод в любое время   Помогаем расти бизнесам в любых вертикалях с 2019:   iGaming Forex Trading Binary Dating E-commerce Education & more   Простая интеграция через API или Платежную страницу с настраиваемой формой оплаты   С чего начать?   Оставьте заявку по ссылке ниже, и в ближайшее время вы получите лучшее предложение для процессинга high risk платежей   Оставить заявку   FAQ   Как выбрать лучший платежный шлюз для high-risk ниши?   При поиске решений для процессинга платежей в high risk вертикалях очень важно оценить, сможет ли шлюз справиться с ожидаемым объемом транзакций, особенно в пиковые моменты. Ищите поставщиков с большим опытом работы в отраслях с высоким уровнем риска. Убедитесь, что шлюз соответствует требованиям PCI DSS. Проверьте, насколько легко интегрировать конкретный шлюз с вашими существующими системами. Paykassma работает на рынке high risk платежей с 2019 года, поэтому наша команда сможет обеспечить надежную инфраструктуру, способную без труда обрабатывать платежи в любом масштабе.   Что такое процессинг high risk платежей?   Обработка high risk платежей – это услуги, предоставляемые Paykassma бизнесам, которые работают в вертикалях с повышенным риском возврата платежей, мошенничества или более склонны к финансовой нестабильности. Регулирующие органы часто осуществляют усиленный контроль над подобными организациями. Это такие вертикали как электронная коммерция, фарма, нутра,  форекс, трейдинг, азартные игры (“гемблинг” или “гэмблинг” как казино, “букмекерство” или “беттинг” как ставки на спорт), развлечения для взрослых и другие. Будучи ведущим платежным процессором в high risk сегменте, Paykassma специализируется на работе с такими видами бизнеса, предлагая им возможность принимать оплату через 100+ локальных платежных способов по всему миру.   Что такое high risk merchant account?   High-risk merchant account – это тип банковского счета для бизнеса в сегменте high risk. Наличие подобного счета позволяет компаниям работать и развиваться, принимая платежи в режиме онлайн. Для high risk merchant account очень важно найти подходящего платежного оператора, который понимает их отрасль и может предложить условия и услуги, соответствующие их конкретным потребностям. Paykassma – выбор лидеров индустрии, проверенный и надежный поставщик high risk merchant account на рынках Азии, Африки и других регионов с 2019 года.   Попробуйте онлайн-демо     Отправляйте заявку по ссылке ниже, и мы предложим вам лучшее решение для обработки high risk платежей по всему миру в ближайшее время       Оставить заявку  
    • Уважаемые форумчане!Рады сообщить, что наш обменник разместился на мониторингахhttps://glazok.org/exchange/?details=1274 https://www.okchanger.ru/exchangers/xgramБудем рады Вашим пожеланиям!
×
×
  • Create New...