Fluctuating cost of bitcoin

[Mbound]

This is probably an incredibly stupid question but I'm highly incompetent with stuff like this-- I am supposed to go by dollar amount, not bitcoin amount right? If he quoted me say ".5 bitcoins" (its not that much obv) and then the value of a bitcoin decreased or increased--as it seems to do by the minute--it wouldn't effect how much money I sent right? God I just want to do this right the first time, any guidance would be much appreciated.

 

[PatKat]

If the price of bitcoin rises A gets the profit from it.

If the price of bitcoin drops A loses money.
Example: Let's say a Bitcoin is only worth a $1 a coin for this example.<I know each BTC are worth close to $5.8k per BTC last I checked.>

You send someone 1 BTC, and the next day the price drops by 50% BTC and he sells it. That 1 BTC you sent isnt worth a dollar anymore it is worth .50 cents and he sells it he will receive .50 cents minus fees.

Does this make sense?

$550 = .094 BTC.

 

[Mbound]

If the price of bitcoin rises A gets the profit from it.

If the price of bitcoin drops A loses money.
Example: Let's say a Bitcoin is only worth a $1 a coin for this example.<I know each BTC are worth close to $5.8k per BTC last I checked.>

You send someone 1 BTC, and the next day the price drops by 50% BTC and he sells it. That 1 BTC you sent isnt worth a dollar anymore it is worth .50 cents and he sells it he will receive .50 cents minus fees.

Does this make sense?

$550 = .094 BTC.

Thank you for this. Once numbers come into anything my brain shuts down.

So I should go by the bitcount amount he quoted me, not necessarily the dollar amount (which roughly corresponds to the BTC amount rn)?

 

[PatKat]

Thank you for this. Once numbers come into anything my brain shuts down.

So I should go by the bitcount amount he quoted me, not necessarily the dollar amount (which roughly corresponds to the BTC amount rn)?

Go by the value when you send the BTC I believe. You can always check the ticker it will have the exact price at that time. I havent ordered from A but I ASSUME this is right. Make sure you enter the correct wallet address also double, triple, quadruple check....

 

[Deleted member 1496]

Thank you for this. Once numbers come into anything my brain shuts down.

So I should go by the bitcount amount he quoted me, not necessarily the dollar amount (which roughly corresponds to the BTC amount rn)?

Sending the exact bitcoins quoted is fine. It's too hard to send the exact dollar amount since the bitcoin to dollar exchange rate changes, even hour to hour.