Maybe someone here can help me understand this...

Let's say I place an order on Hansa for a product and it cost $1800 USD which also happens to be the price for 1 BTC. I purchase, send the 1 BTC over and wait. The vendor never accepts my order and after 48 hours, I decide to go ahead and cancel. After the 2 day wait, BTC has gone up in value from 1800 per to 2300 per. Now... when I get my refund, do I receive the 1 BTC I sent initially or do I get refunded $1800 worth of BTC? If I get the $1800 worth, what happens to the profit of $500? The market keeps it? I cannot wrap my mind around what happens and why lol. HELP


Comments


[9 Points] None:

[deleted]


[5 Points] None:

You get your BTC back. Multisig :)


[1 Points] DooshNozzzle:

If you pay X for something, you are refunded X.

The principle is the same whether you pay USD or BTC.

If you pay 1 BTC for a product and you get a refund, your refund is 1 BTC.


[1 Points] seventhaccount7:

Has any other market ever implemented that system that silk road had of locking in the value of the btc at the time of order? Shit was tight.