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by tptacek 1911 days ago
Since they can choose how to refund, they can refund in USD as long as BTC is appreciating, and refund in BTC if BTC depreciates below the spot price at the time of purchase. On the backend, they can just convert BTC to cash if they're worried about currency risk.
1 comments
nightski 1911 days ago
Fair enough but the consumer can also play the same game at time of purchase. BTC up today? Buy a car. BTC down today? Do not.

Either way you get the USD equivalent back. I can't imagine someone actually caring about this. If you think it's likely that you will return a car, maybe think about such a large purchase a little more?

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dyslexit 1911 days ago
You don't get your USD equivalent back if they pay you back in depreciated BTC.
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nightski 1911 days ago
Sure, but from how I interpret the clause it would be the exact same amount of BTC as you put in to purchase it. So it doesn't really matter if it's value relative to USD is less? You are in the same position as if you had not bought the car.

"If you are entitled to a refund of your payment or to a buyback, we reserve the right to refund you either the exact Bitcoin Price that you provided to us at the time of purchase"

Either way you are getting either 1. the exact amount of BTC you put in or 2. the USD value of the car.

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tptacek 1911 days ago
If you buy a car in BTC worth $50k USD at the time of purchase, and, at the time of the refund, the same BTC is worth $75k, they will refund you $50k USD.

If you buy the same car and refund when BTC is worth $25k, they will refund you $25K worth of BTC.

Heads they win, tails you lose.

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nightski 1911 days ago
That's not what the clause says - or at least point to specific phrase. It says if you buy it for 2 BTC they will refund you 2 BTC (assuming they refund BTC).
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dyslexit 1911 days ago
It is what the clause says, you cut it off just before they say it.

> If you are entitled to a refund of your payment or to a buyback, we reserve the right to refund to you either the exact Bitcoin Price that you provided to us at the time of purchase or an amount of US Dollars that is equivalent to the US Dollar price of the product that you purchased, at our sole and absolute discretion, taking into consideration operational efficiency.

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