Quote from: BTRIC on October 25, 2017, 04:23:51 PM

Quote from: BitSat on October 25, 2017, 03:00:43 PM

Currently this is very serious concern for many and they are not taking risk with bitcoins otherwise its going to be rock around the world very quickly hope we have some good solution for this also in near future and then we can use this without any serious trouble around the world for any thing

This is a very interesting problem that I haven't considered. In fact there could be legal implications of not refunding an appropriate amount.

We plan to negate this argument by CLEARLY stating that any refunds will be processed based on $USD value of the item. Refunds can be issued as BTC based on the market value when the returned item is received by us.

For sake of argument:

Assume 1BTC = $6,000 on 11/1/2017. You purchase an item an item on 11/1/2017 that costs $6,000 for exactly 1BTC. The item arrives to you on 11/5/2017 (with the value of 1BTC jumping to $7,000) and you decide to return the item for a full refund.... Obviously, refunding 1BTC would cost our company an extra $1,000 and we would be opening ourselves up for abuse. HOWEVER - if we refund the $6,000 USD value in BTC you would receive 0.###### BTC (current market equivalent). The same would occur if the price of BTC dropped and the value was $5,000 USD - you would receive 1.#### BTC as a refund. We feel this is fair for all parties involved and eliminates risk for both parties. Anyone that is versed in BTC (should) understand the fluctuation and volatility involved, but we want to make this verbiage clear and concise to eliminate any confusion.

What are your thoughts?