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

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?

  • Useful or interesting 10
  • +1 4
  • +2 6
  • +3 1

Share this post


Link to post
Share on other sites
25 minutes ago, Brushless4500KV said:

How do you cope with this problem?

Volatility cannot be solved. If you want to transfer funds, it's either:

 

1. You send the BTC and let your friend immediately convert it, or

 

2. You use BTC on declaring amount, not basing on USD.

  • +2 2

Share this post


Link to post
Share on other sites

Since you brought $ 30 Bitcoin from your friend, you should still give $ 30 a return, although now you have to pay $ 30 more as Satoshi because of the drop in the price of Bitcoin, because he helped you.

  • +1 1

Share this post


Link to post
Share on other sites

You can pay them using USDT of course if you want to do that always buy USDT and save them to you for what do you want to do.

All the best guys....

  • Useful or interesting 2

Share this post


Link to post
Share on other sites

If you pay in bitcoins, then you need to indicate and fix the price in bitcoins, and not in dollars. You transfer to the seller’s account precisely bitcoins, not dollars. To negotiate a deal, you need only in bitcoins and fix it at the time of the transaction. Then send the indicated amount of bitcoins. 

  • Useful or interesting 2
  • +1 2
  • +4 1

Share this post


Link to post
Share on other sites

Bitcoin price fluctuates up and down. It is not a stable coin and it is more volatile than other Cryptocurrencies so when ever you invest or want to send a person money in bitcoin you have to see time and day's price you are transferring your bitcoin from your wallet to his wallet. And if possible send a note to him.

  • +1 1

Share this post


Link to post
Share on other sites

The $ 30 you received from your friend and the one that you are about to give Bitcoin to, if you are now giving Bitcoin, then the amount of Bitcoin should be increased because of the amount of $ 30 you can give Bitcoin.  And of course you have a lot of help so you can certainly repay it with Bitcoin.

  • +1 1

Share this post


Link to post
Share on other sites
56 minutes ago, Rahul21 said:

The $ 30 you received from your friend and the one that you are about to give Bitcoin to, if you are now giving Bitcoin, then the amount of Bitcoin should be increased because of the amount of $ 30 you can give Bitcoin.  And of course you have a lot of help so you can certainly repay it with Bitcoin.

I didn't receive anything from my friend. I just wanted to pay $30 to my friend in BTC. The problem is that I promised to pay him the money today but when I woke up, I saw that BTC has gone down to $8.6K! I couldn't fulfill my promise because I didn't predict bitcoin will behave differently.  I want to say, when you have to pay someone according to a deadline, you can't trust cryptocurrencies because sometimes you have to pay more or less than the amount specified.

  • +2 1

Share this post


Link to post
Share on other sites

I think that you should pay at the price of the currency you agreed on. If it was in USD terms you should buy more Bitcoin since it dropped. The other person aggreed to this price 30$ in BTC. He did not agree to 0.00334 BTC. 

I suggest you make it clear next time about the currency you will be using.

Edited by BTC Future

Share this post


Link to post
Share on other sites

I think you can solve this by telling him that you will delay you payment for few more they then you can just add extra payment later to compensate for the late payment you can use that few days to earn more Bitcoins.

  • +1 2

Get 10% Kickback on your Trading fees using this Link : https://www.binance.com  

If you buy or sell $100 or more of crypto, you'll receive

$10 worth of free Bitcoin! Link : Coinbase

 

publishOX.gif.48cd9f50f6786cac26a168b63e1b61ba.gif

Share this post


Link to post
Share on other sites

Never promise anyone while you are counting on something unstable,bitcoin is not like usd or euro, try to keep this in your mind, and follow it in your future deals, I never use this method, this is a problem and only the persons who knows bitcoin will understand your situation 

  • +1 2

Share this post


Link to post
Share on other sites

It looks like I will exchange it for another coin because the price is definitely much different. For this reason I will choose it, we do not know the exact price because the price must always change.

Share this post


Link to post
Share on other sites

Yes, that is true and for this reason crypto has not yet been adopted as a valid payment for a commodity or an item. bitcoin or other crypto volatility makes it difficult for us to make a payment agreement. steps that can be taken indeed with the estimated value of the dollar, not from bitcoin or altcoin because crypto is always changing.

  • +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?

This could not be controlled as crypto market is most volatile market any thing can be happened in minutes. If you want to pay anyone just pay immediately at time of dealing.

Share this post


Link to post
Share on other sites

Well, that is the problem when it comes to lending or letting someone borrow money from you, at least you know who is the person that borrows the money maybe become more frequent in asking them to pay.

  • +1 1

Share this post


Link to post
Share on other sites

Do not trust anyone and you are dealing with this currency because it is unstable like the dollar and the euro, so do not trust anyone in this field.

Share this post


Link to post
Share on other sites

If you are going to deal with Bitcoin then you should not follow this method and do the comparison because in this way you will achieve nothing nor from planning and dividing your bitcoin a part that is sold and a part that is invested

  • +1 1

THINK POSITIVE

Share this post


Link to post
Share on other sites

That's why stable cryptocurrencies where created. You can just exchange you bitcoin into a stable coin and keep it there until you will send the money to someone. When you want to send bitcoin you instantly exchange back to bitcoin and get the same value in USD

  • Useful or interesting 1
  • +1 1

Share this post


Link to post
Share on other sites

I showed them the proof of payments from different websites that allows me to earn. I am explaining it into them so they could be able to start trading again or holding.


nMvFbuZ.png

Share this post


Link to post
Share on other sites

You can converted bitcoin in to usd ir usd into bitcoin.u send 30$ to ur friend and exchange it in to and return you in wallet 

Share this post


Link to post
Share on other sites

Great example:

The offer BTC is  same and that is the essence of the business market. The BTC never changed 0.00334 BTC(*).

It is price control in BTC.

If The price had been $5000 ... ?

The mistake is that at time of the negotiation you did not have the amount in BTC .

The other scenario:

If they were at the new price down $ 5000, you must buy (0.00334 BTC)  and not use your BTC(*)

  • +1 1

Let's make community ... It's easy👍

Create-New-Topic-Learn-How-to-Avoid-Repeat-Topic .

Don't Forget Your Topics                                                     
 

Share this post


Link to post
Share on other sites

I think every people do not have bitcoin. So we can tell anyone to pay us through cryptocurrency. So we have to complete our payment through physical money. 

Share this post


Link to post
Share on other sites

It is better that you should convert into stable coins so it would be safe.. and the time comes that you send money to your friend then convert it into bitcoin.


 

                                                    BetFury                                                   

   | You Play - We Pay

                                                  Free BTC 360 Satoshi every day                                                 

Share this post


Link to post
Share on other sites
On 1/22/2020 at 7:04 PM, Ionescu said:

That's why stable cryptocurrencies where created. You can just exchange you bitcoin into a stable coin and keep it there until you will send the money to someone. When you want to send bitcoin you instantly exchange back to bitcoin and get the same value in USD

According to what you said, I should convert the amount of bitcoin I want to pay to Tether and keep it there until the deadline for payment. This is a good suggestion but it has its own disadvantages. I have to pay fees twice. One fee for BTC to Tether conversion and another fee for Tether to BTC conversion at the time of payment. If we add these two fees together, it may be more than the extra amount I should pay due to volatility of bitcoin. This method is useful only when bitcoin falls heavily because Tether is always steady and can compensate for that.

  • +2 1

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Спешим сообщить - наш сайт добавлен в один из крупнейших мониторингов обменных пунктов - Exchangesumo.com    Присоединяйтесь к числу довольных клиентов KingsExchange и оцените преимущества работы с нами. Мы стремимся предоставить лучшие условия обмена и высокий уровень сервиса.   Возникли вопросы – служба поддержки всегда готова помочь Вам.   Сотрудничество Telegram: @kingsexchange_global Email: kingsexchangeee@gmail.com   Поддержка Telegram: @kingsexchange_support Email: support@kingsexchange.global   Наш официальный Instagram: kingsexchange.global
    • Уважаемые пользователи!На сегодня курсы(по Киеву):Покупка: +1.6%(Вы отдаёте 10000usdt, получаете 10160$)Продажа: -2.1%(Вы отдаёте 10000$, получаете 9790usdt)Так же делаем выплаты и принимаем евро по SEPA/SEPA Instant, SWIFT, IBAN по очень выгодным тарифамСуществует бонусная программа для постоянных клиентов и партнеровНапоминаем о перечне наших услуг:-Покупка/продажа USDT за наличные-Перестановка кеша по всему миру(50+ стран)-Приём/выплата SEPA, Wise, Revolut, Payoneer, Capitalist, PayPal-Приём/выплата грн на карту за USDTМы находимся на всех известных мониторингах:Bestchange, ExchangeSumo, bits.media, Wellcrypto, Scanbit и прочихВсе заявки оформляются через наш сайт Cashflow.bestПо всем прочим вопросам, курсам по регионам - обращайтесь в службу поддержки на сайте или телеграмм
    • Dear Clients! We have another good news!   We have added new exchange directions: OZON BANK RUB   Now on FreeChange.cc you can make an exchange using an OZON bank card.   If for some reason it was not possible to create an exchange request, then our tech. Chat support on the site is always ready to answer your questions. You just need to write! 😉 FreeChange.cc
    • Наш сервис пополняется новыми направлениями обмена! Теперь в автоматическом режиме вы можете обменять Litecoin (LTC).  Следите за нашими новостями и пропускайте последние обновления AltinBit.com!
    • В последнее время инвесторы жалуются на певца из Нигерии Davido, чье настоящее имя - Дэвид Адедеджи Аделеке. Когда Davido поддержал мемкойн, названный в его честь, его стоимость выросла, но затем резко упала. Пострадавшие инвесторы утверждают, что певец заработал на продаже токенов более $450 000.   Подписчики певца осуждают его за обман, так как они доверились его решениям и инвестировали в этот мемкойн. Комиссия по ценным бумагам и биржам Нигерии предостерегла, что инвестирование в мемную криптовалюту Davido - на свой страх и риск, так как такой токен не зарегистрирован в ведомстве и SEC не имеет никаких полномочий по его отношению, а в случае убытков инвесторы не смогут рассчитывать на юридическую поддержку.  
    • VPS сервера от 6$ Выделеные сервера от 54$ Сервера с GPU от 300$ с полным списком услуг можно ознакомится на нашем сайте DEDIONE-Available Servers наши контакты: TG: https://t.me/Alffi_Solomons подписывайтесь на наш канал переодически добавляем сервера с большими скидками или совершенно бесплатно. ссылка на канал https://t.me/+u1QBackNiKZjYWVk
    • Ожидаемо биржи провели листинг $ZK.        Binance ещё не залистил, но это произойдет в 13:00 по МСК. Цена торгов на других биржах примерно 0.3$. То есть ОТС оценил прайс верно.Помимо листинга на Binance, биржа раздаст и отдельный аирдроп по 200 $ZK всем своим пользователям, кто удовлетворяет следующим критериям (одновременно)  имеет 50+ исходящих транзакций в сети zkSync в период с Февраля 2023 по Март 2024 транзакции совершались в течении 7+ месяцев в период с Февраля 2023 по Март 2024 адрес НЕ получает дроп от самого zkSyncМожно чекнуть себя тут https://cointool.app/airdrop/binance-zksyncЕсли находишь свой кошелек, то отправляешь с него 0,02 ETH в сети zkSync на адрес бинанса, и ждешь. С 25 июня в порядке очереди на баланс Binance упадет 200 токенов.
    • Здравствуйте друзья ,   Мы добавили новые направления обмена 1.       Payeer RUB → Perfect Money USD                        2.       Payeer RUB → Tether BEP20 USDT                        3.       Payeer RUB→ Tether ERC20 USDT                        4.       Payeer RUB → Tether TRC20 USDT                        5.       Perfect Money USD → Payeer RUB                     6.       Tether BEP20 USDT → Payeer RUB                       7.       Tether ERC20 USDT → Payeer RUB                        8.       Tether TRC20 USDT → Payeer RUB     Мы ищем вашего сотрудничества и поспешно начнем обмен
    • Looking for where to exchange cryptocurrency quickly and profitably? Our online exchanger Expa24.com offers speed, reliability and many exchange destinations. Try it and see for yourself!   Current directions: USDT, BTC, ETH, TRX, MATIC, LTC, DOGE, XRP. As well as cash and many payment systems.   We accept cash in: - Kiev, Moscow, Minsk - EU countries We give out at our office in North Cyprus.   For any questions write to our support on the site or in telegram manager (link you will find in the header on our site).   Our contacts: Website: https://expa24.com/en Telegram channel: https://t.me/expa24 Facebook: https://www.facebook.com/expa24 We are on BestChange: https://www.bestchange.com/expa24-exchanger.html
×
×
  • Create New...