"Viking Coder" <[EMAIL PROTECTED]> wrote:
I'm not arguing backed vs. fiat, or base system denominations, but
inter-currency transaction roll-backs. When a transaction is made across
non-equivalent currencies, is there an *ethical* means of determining what
amount should be refunded?
I don't think it's so clear.
How is this situation usually handled (fiat <-> fiat transactions)? Is the
merchant/payee's currency used as the basis for refund, or the
customer/payer's currency used?
I might be mistaken, but I believe "no refunds" is the normal policy - at
least with most cash exchanges. If I were to give 500 USD to a cash
exchange provider in Amsterdam in exchange for Euros, I wouldn't expect to
be able to go back later and get my USD back. I would have to make another
exchange from Euros to USD.
It seems the scenario closest to Graham's situation would be if I push my
500 USD across the counter and the person on the other side picks it up and
at that point (before I've received the Euros) I say, "wait I changed my
mind!" In that case I'm guessing the person would hand the money back, and
say "make up your mind". This suggests to me that Graham should have
returned the currency given to him (e-gold) in the amount he received
(which is measured in weight), less fees extracted by the e-gold
system. OR he should have said, "sorry, no refunds".
OR he should do exactly what he said (on his website) he'd do.
It does seem a bit unfair that a customer can cancel an order because the
price of dollars in terms of gold went down. If I send you 100 aug and
expect 1000 USD for example, it seems a bit cheap and smarmy to cancel the
order and redo it because the price of 1000 dollars went down to only 90 aug.
Wayne
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