The Doll Forum

Nice! Time to start mining some Bitcoin then...

Just curious, as Bitcoin to US$ is quite volatile, do you offer dolls for a fixed bitcoin price, or is price in bitcoin set at time of order/payment?

Nescio50 wrote:Just curious, as Bitcoin to US$ is quite volatile, do you offer dolls for a fixed bitcoin price, or is the price in bitcoin set at time of order?

Good question, Nescio. I know Bitcoin is volatile...
But I'm thinking that the payment processor (Bitpay) does the USD/CAD/GBP/EUR to BTC conversion to the current value of BTC when you checkout.

I could be wrong, but that's what I hypothesize what happens.

AlexaTilbrook wrote:But I'm thinking that the payment processor (Bitpay) does the USD/CAD/GBP/EUR to BTC conversion to the current value of BTC when you checkout.

I could be wrong, but that's what I hypothesize what happens.

I guess so too, but what's in it for me? Except for some money laundering

The vendor is playing with fire, and the purchaser could get burned
If you buy a doll with bitcoin, and bitcoin value drops in half the next day, the vendor would be a moron to not just cancel the order, and give the purchaser his worthless bitcoin back. The vendor may hang on to your order a while longer to see what bitcoin does. Doll vendors already take ~2 months to deliver, so this seems scammy

They are playing the market with your money, and they cant lose.

I wanted to add that this problem is true with any bitcoin purchase. The doll world just gives them 2 months free to play the market.

Nescio50 wrote:Just curious, as Bitcoin to US$ is quite volatile, do you offer dolls for a fixed bitcoin price, or is price in bitcoin set at time of order/payment?

There is no bitcoin price established for any of the products. Sales are based on US dollars and there is no bitcoin exchange between me or the customer. All transactions are processed through Bitpay an online service that handles the transaction process. Here's how it works:

1. Customer places order and chooses Bitcoin as form of payment.
2. I email the customer a Bitpay invoice for the US dollar amount.
3. Customer pays invoice using their Bitcoin wallet.
4. Bitpay transfers the invoice amount to my bank account in US dollars.

CarpetLover wrote:The vendor is playing with fire, and the purchaser could get burned
If you buy a doll with bitcoin, and bitcoin value drops in half the next day, the vendor would be a moron to not just cancel the order, and give the purchaser his worthless bitcoin back. The vendor may hang on to your order a while longer to see what bitcoin does. Doll vendors already take ~2 months to deliver, so this seems scammy

They are playing the market with your money, and they cant lose.

I wanted to add that this problem is true with any bitcoin purchase. The doll world just gives them 2 months free to play the market.

Thank you for your concern CL. I had a friend of mine who is well versed in cryptocurrency make sure this was a safe way to accept bitcoin. Because sales are based on US dollars and I do not use my bitcoin wallet there is no chance for me to "play the market". TBH I'm not that sort of vendor to take advantage of a customer in that manner and would take the hit for my ignorance and fulfill the order even if I took a loss. I've done that before.