26
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
I am not a lawyer, but...
The Coinage Act of 1965, Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency... are legal tender for all debts, public charges, taxes, ...
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20
votes
Accepted
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
I made a payment to a company for a product more than a year ago in
bitcoin. The amount that I paid then was equivalent to $75. Now the
company has failed to provide the product and they and I ...
- 5,158
17
votes
Anyone know of an API I can get historical price time series for multiple coins
I am developing the ccxt cryptocurrency trading library, check it out on GitHub:
https://github.com/kroitor/ccxt
It is a library for cryptocurrency trading and e-commerce with support for many ...
- 428
17
votes
Accepted
Where is the BTC price "stored"?
There is no "the" BTC price.
There are exchanges, where people offer to sell and buy BTC for USD and other currencies, at certain prices. Those exchanges generally report the last price at ...
- 82.8k
14
votes
Why does my bitcoin "to US dollar" worth change when the stock market is closed?
To my knowledge, bitcoin is not traded on any stock markets. It is traded directly on exchanges specialized in cryptocurrencies. These exchanges don't necessarily close, and therefore trades are ...
- 8,724
13
votes
Accepted
How do I get bitcoin price without any external source?
The bitcoin price is determined by a free market of buyers and sellers. There is no way to calculate the price on your own without an external source. I suppose the only exception to this would be if ...
- 5,176
12
votes
Accepted
What are some of the proposed ideas to why the Bitcoin dropped to sub $400 in the end of summer 2014?
Some possible reasons I read:
Merchant adoption through payment processors
While merchant adoption is growing, it is currently mostly through payment processors, hardly any merchants keep a ...
- 62.5k
12
votes
Why does my bitcoin "to US dollar" worth change when the stock market is closed?
Bitcoin is not a stock. It's a decentralized currency and its markets are open 24/7.
- 62.5k
10
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
Given that bitcoin has increased in value, one of us has to profit from this.
If you hold the bitcoins while the value goes up, you are the one entitled to profit from it, because you also risk ...
- 4,327
9
votes
Accepted
Why is the exchange rate of Bitcoins the same for everyone?
When exchange 'A' sells bitcoins for 200 dollars and exchange 'B' buys bitcoins for 300 dollars, there will be people who buy at 'A' and sell at 'B' as long as they can make money on it. This is ...
- 538
9
votes
Generating a Bitcoin Address QR code with current USD price embedded?
You can't include the USD amount, but you certainly can include the btc amount in the QR code. The QR code essentially embeds a text like this:
bitcoin:1ArmoryXcfq7TnCSuZa9fQjRYwJ4bkRKfv?amount=0.005
...
- 7,619
8
votes
Do I have to buy a full bitcoin to get the price increase?
If you have 0.1 BTC and the Bitcoin price is $10,000, it is worth $1000.
If the Bitcoin price becomes $20,000 you will still have 0.1 BTC but it will be worth $2000.
- 3,559
7
votes
Where can I get all historical trades BTC price data?
You might want to try http://www.cryptodatasets.com/
It has free raw data and sampled data from Bitfinex and HitBtc (currently).
P.S. it's my website
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7
votes
Do payment processors who convert bitcoin to dollars (like Coinbase and Bitpay) devalue bitcoin?
For every Bitcoin they sell, someone else had to obtain that Bitcoin. So they increase the demand for Bitcoins by at least as much as they increase the supply.
In addition, they increase the utility ...
- 50.7k
7
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
Was there a sales contract?
https://en.bitcoin.it/wiki/How_to_accept_Bitcoin,_for_small_businesses#Contract points out the value of specifying the refund policy in such a contract.
(Personally I'd ...
- 71
7
votes
How do I get bitcoin price without any external source?
You may be thinking with cause and effect reversed. The Bitcoin price being $300 does not cause people to buy and sell at $300. Rather, people buying and selling at $300 causes the price to be $300.
...
- 536
7
votes
Accepted
Anyone know of an API I can get historical price time series for multiple coins
Found the data on crypto compare
const endpoint = 'https://min-api.cryptocompare.com/data/histoday?aggregate=1&e=CCCAGG&extraParams=CryptoCompare&fsym='+ ticker.toUpperCase() +'&limit=...
- 461
6
votes
Accepted
what would it take for the Bitcoin price to drop less than a dollar?
This is all speculation in a very new technology. I'm not an expert in economics, but there are irrefutable facts that's some of the "cultists" will not entertain. There are, simply put, 2 types of ...
- 5,158
5
votes
How can Auroracoin be the 4th crypto-coin by market cap if it's unreleased yet?
Turns out I was wrong. It is mineable right away and it is actively being traded in different exchanges, as cryptorush.in and cryptsy. What hasn't happened yet is the release of the pre-mined coins (...
- 2,128
5
votes
Where can I get historic data series of Bitcoin prices?
You can download the whole historical data (every single trade) from the various exchanges as a single .csv file here:
http://api.bitcoincharts.com/v1/csv/
- 191
5
votes
Why did Bitcoin lose value so fast in early January 2015?
Adding to my answer on What are some of the proposed ideas to why the Bitcoin dropped to sub $400 in the end of summer 2014?, which I think is still mostly accurate:
Bitstamp loot
There are about ...
- 62.5k
5
votes
How does bitcoin conversion (to/from $) handle round off error?
The Bitcoin protocol doesn't recognize the concept of a dollar. Conversions of the kind you mention do not exist in the Bitcoin protocol.
Conversions might exist with services that recognize dollars (...
- 19.5k
5
votes
Anyone know of an API I can get historical price time series for multiple coins
http://www.cryptocoincharts.info
Advance API to more than 100 exchanges: cryptocurrency pricing, OHLC and volume data from multiple exchanges.
BTC38, BTCC, BTER, Bit2C, Bitfinex, Bitstamp, Bittrex, ...
- 59
5
votes
How do exchanges keep relatively similar price on coins?
If I could buy a bitcoin on Exchange A for $2,000, turn around and immediately sell it on Exchange B for $2,500, and make an immediate profit of $500, I would do that all day long, and get rich!
But ...
- 1,334
4
votes
How do I calculate the value of some amount of bitcoins in my native currency?
I will explain how to calculate the value of some amount of bitcoins in terms of USD, but obviously the USD can be replaced by any other currency, and the corresponding exchange rate.
There are three ...
- 62.5k
4
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
It all depends on the what was the base-currency of the item when it was sold. That is what should be refunded.
If it is not clear what the base currency was, then the one approach would be to simply ...
- 37
4
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
It doesn't matter what the currency you paid in is worth now compared to other currencies, I guess that's the problem of a volatile currency.
For example: If from here in the UK I bought something in ...
- 141
4
votes
I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
If BTC is a currency then this is an easy question. I should be refunded what I paid, in the currency in which I paid it.
Really? So if the Bitcoin system collapsed and Bitcoins had no value anymore, ...
- 50.7k
4
votes
Accepted
How much will one bitcoin cost when the 21 millionth bitcoin (the last one) is mined?
Nobody knows. It depends on what the demand is for Bitcoins by that time. If everything goes as planned, the last bitcoin will be mined about 125 years from now, and I don't think anyone has a good ...
- 22.7k
Only top scored, non community-wiki answers of a minimum length are eligible