How do vendors handle BTC fluctuations?

Say I place an order today, but the vendor doesn't accept it until tomorrow. Let's assume the worst and say BTC drops down to 520 or so over night.

Will the average vendor cancel an order over 5 bucks or so? Will it still go through since the price that counts is the one from when I ordered?


Comments


[5 Points] styxstims:

Smallish vender here,

I would never cancel an order like that, and neither would most vendors.

The reason being most smart vendors can't convert their BTC to cash as soon as the customer finalizes so the BTC price does not matter to us. At least for all the other "smart" vendors I talk with agree on this. Since we have to do an intensive tumbling and cleaning process, as well as conversion and exchanging process, and that's not even including the luandering.

It can take up to 30 days convert my BTC to "clean" money. So I tend to ignore the BTC price for the most part.

-styx


[2 Points] DatMaxFreak:

If the Bitcoin price skyrockets, say from $550 to $700 overnight, do you cancel the orders you had pending?


[1 Points] Letsdoallthedrugs:

Never happened to me before, but I'd imagine it does happen.


[1 Points] penile_implant:

Situations like the one you've described are a big reason why some vendors are "FE only".


[1 Points] None:

My head sort of hurts thinking about this but would holding say half your inventory in product and half you inventory in bitcoin average out the risk or does that have nothing to do with it?

Say you have 10BTC and 10g of dusty showbiz & 1g is worth 1btc On Monday

By Tuesday BTC doubles from $500 to $1000

Nope........don't have the brain power sorry.


[1 Points] None:

See this is where BTC is shit. Ultimately none of the people that use it want to make money of the damn currency fluctuations, we want a stable, reliable currency that is fixed in value to another currency such as gold even then it would be great if there was a way to fix it absolutely to have minimal changes over time.

These big changes just stress me out.