For about one month I ordered something at a company and paid in bitcoin (0.015Ƀ). The value at that time was about 25$

The company confirmed that they received the payment. Unfortunately they can't deliver the product (after I asked them when I can expect a delivery), thus they offered me to cancel the order or wait.

They want to do so with the old value of the coins, 25$ (0.01Ƀ).

While I understand that they don't want to have a loss I also have to admit that it kinda annoys me to lose money because they can't deliver. Buying bitcoins always costs you more for the fees and I would have an effective loss of 0.005Ƀ.

Is a company required to return you the amount of money you paid in either the currency you used (approved by them) or return you the value of the currency in another currency, or are they allowed to switch currencies to maximize their profits?

1 Answer 1


Depends on the contract - they must refund the price in the contract. If the price is in bitcoin, you get the same amount of bitcoin. If the price is in $, you get the same amount in $, however, you have agreed that this can be paid in bitcoin.

  • What if the price is stated in $ and Ƀ, so they automatically take either? Since acceptance was apparently "in Ƀ", does the refund also have to be that number of Ƀ?
    – user6726
    Commented Jun 13, 2017 at 21:00
  • What stops me from opening a business and never delivery something if the exchange turned into my favour? "My apologizes, I can't send it to you" - and then I return the lower exchange to the customer?
    – user9886
    Commented Jun 14, 2017 at 16:25
  • 2
    @Swizzler People won't use your business if they feel cheated. If you establish a pattern whereby lots of people feel cheated, it might look like you're intending to cheat them, which is fraud, a crime.
    – Patrick87
    Commented Jun 14, 2017 at 22:39
  • 1
    @Swizzler That's happened to me (not with bitcoin, though). More typically, the business will get a higher profit by delivering what's promised and keeping the original profit margin (and any profits on future sales/repeat business), so this is relatively rare.
    – WBT
    Commented Jul 13, 2017 at 23:16

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