Silk Road forums
Discussion => Silk Road discussion => Topic started by: Sc0t1and_Y4rdi3 on April 10, 2013, 07:32 pm
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Fuck everyone else that has exposure or decided to list unhedged, you took the risk, deal with it and suck it up
However of major concern is those funds that have been hedged. Originally when the site was setup the btc/usd exchange rate was updated constantly in relation to the current value of goods that were pegged to the USD. But this was changed to a system where it was updated less frequently as the old system left a security flaw that could be exposed.
The current MTGox weighted average sits at $222.01623 but the silk road has shown $234.7278 for the past hour. It appears whatever link that updated the price on SR has failed. A lot of people will be panic buying right now, some vendors are processing orders right now. But with the systems down as they are it looks like even hedged vendors won't have protection.
Mr Dead Pirate Roberts, can you please clarify the situation for everyone and can you also agree to zero fees on site for the past 12 hours and the preceding 24 hours. If I had just placed an order, which has to be cancelled because the SR price was incorrect I should be most pissed of indeed if the money was refunded minus your fat bag of commission
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DPR is slow, but he/she will fix any issues, as always. I just spent my entire bitcoin fortune on a hedged order, and if there are any issues.... I trust that they will be resolved.
We are the silk road, the only important institution of bitcoin.
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Pretty much every exchange is suffering massive lag right now, but MtGox is getting hit the worst. If SR gets its 24 hour average from the MtGox API, that would explain why it hasn't be updated in a while.
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We are the silk road, the only important institution of bitcoin.
get real, even at BTC = $50 USD SR is but a blip in the bitcoin economy
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K Queen
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Re: escrowed fund are not safe
« Reply #4 on: Today at 08:11 pm »
Quote
this is not right! we had a finalized order come through that was hedge at the USD and it has been confirmed now at 0.13 which is currently 18.20 now, however SR is showing this as 30.51!!! we are obviously going to incur losses with finalized hedged orders in the escrow!
this is not right!
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Vendor profile - http://silkroadvb5piz3r.onion/silkroad/user/3cbe650095
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I have kindly asked my two hedged buyers not to finalize until this is fixed
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I have kindly asked my two hedged buyers not to finalize until this is fixed
what a gentlemens
i model vendor,, ty sir
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sorry about that delete i didnt mean it...
yeah so problem is we had a customer just finalize for 0.13 our account shows 30.51 USD, however currently this is only 19.37 USD... so is it wise to ask all customers not to finalize until this has been sorted?
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So from my understanding, when you hedge the sale, SR liquidates the BTC's at that current value. Thus guaranteeing that original amount of $USD placed into escrow. so hedged accounts are safe, unless SR doesn't honor their escrow.
Now as for UNHEDGED options...this is where it gets fucky...all the buyer is doing is putting BTC's in escrow...the btc's value is NOT guaranteed in escrow, therefore when the deal goes through and the vendor receives those BTC's they are valued at whatever MTgox says they are at THAT point in time.
So, if i was a vendor i would STOP all unhedged trades now...or...if yer a gambling man...keep em going and hope they go back up to 250 =P
As for the site not updating...i have no idea....
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So from my understanding, when you hedge the sale, SR liquidates the BTC's at that current value. Thus guaranteeing that original amount of $USD placed into escrow. so hedged accounts are safe, unless SR doesn't honor their escrow.
Now as for UNHEDGED options...this is where it gets fucky...all the buyer is doing is putting BTC's in escrow...the btc's value is NOT guaranteed in escrow, therefore when the deal goes through and the vendor receives those BTC's they are valued at whatever MTgox says they are at THAT point in time.
So, if i was a vendor i would STOP all unhedged trades now...or...if yer a gambling man...keep em going and hope they go back up to 250 =P
hedged works off of Silk roads perceived btc value which hasnt updated in hours, so all hedged transactions (if finalized) will cost the vendors large amounts of money in lost profit.
As for the site not updating...i have no idea....
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Now as for UNHEDGED options...this is where it gets fucky...all the buyer is doing is putting BTC's in escrow...the btc's value is NOT guaranteed in escrow, therefore when the deal goes through and the vendor receives those BTC's they are valued at whatever MTgox says they are at THAT point in time.
yeah this is what has happened with us!!! a customer finalized 0.13 BTC and on our account it is showing 30.51, however at the current market rate this is a little over 19 USD... now with many orders pending there will be a substantial loss, not only to ourselves but we can imagine most vendors!
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Yeah unfortunately...that value wont change if they finalized now...or in a couple days...
Whatever the actual value of BTC's are at any point in time...is the value that the buyer will send you...
Not like they are trying to scam you, but that is the VALUE of the BTC's...
So at the same time, if you make a sale now and you get 2BTC's and in a couple days they go up again to 250, then you doubled your money...so it's kinda like a gamble
that's why hedged costs a bit more, but it guarantees the amount you wanted for the item.
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i understand but the finalized order i stated above was hedged to USD
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Yeah unfortunately...that value wont change if they finalized now...or in a couple days...
Whatever the actual value of BTC's are at any point in time...is the value that the buyer will send you...
Not like they are trying to scam you, but that is the VALUE of the BTC's...
So at the same time, if you make a sale now and you get 2BTC's and in a couple days they go up again to 250, then you doubled your money...so it's kinda like a gamble
that's why hedged costs a bit more, but it guarantees the amount you wanted for the item.
shame on those vendors who didn't want to pay the 4% protection
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No vendor is losing money. And no vendor should be complaining.
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No vendor is losing money. And no vendor should be complaining.
O RLY?
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So if I want to help out the vendor do I FE now out of fear that the decline will continue or should I wait till the value stabilizes? Clearly, I don't want to fuck over any of my vendors.
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So if I want to help out the vendor do I FE now out of fear that the decline will continue or should I wait till the value stabilizes? Clearly, I don't want to fuck over any of my vendors.
fuck knows, i've eaten too many crumpets to think straight right now, speak to your vendor
all that matter is your heart is in the right place
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I had an order in.. bulk.. Vendor canceled on me bc of the btc drop bc he would of lost out on alot of money from me. I lost $750 that day and another 650$ a week prior for pretty much same thing.
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I had an order in.. bulk.. Vendor canceled on me bc of the btc drop bc he would of lost out on alot of money from me. I lost $750 that day and another 650$ a week prior for pretty much same thing.
fuk
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I had an order in.. bulk.. Vendor canceled on me bc of the btc drop bc he would of lost out on alot of money from me. I lost $750 that day and another 650$ a week prior for pretty much same thing.
guess what i did? I messaged all the vendors I was interested in buying from. I said given the current situation with BTC crashing, would they be prepared to accept my order given that their listings are hedged and would they provide escrow
you got caught with your hands in the cookie jar. next time try not to be so greedy
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I had an order in.. bulk.. Vendor canceled on me bc of the btc drop bc he would of lost out on alot of money from me. I lost $750 that day and another 650$ a week prior for pretty much same thing.
fuk
Hi edar you scamming prick :D
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
First I don't call selling a gram of weed making money. I mean do disrespect so don't get all upset at me saying that. You will agree that it very little money.
The point I was trying to make is that us vendors...MOST of us...make a lot of money...and in general the btc has done NOTHING but go up the last 11 months... And other then the vendors that were selling things at the $250 per coin...and then that dropped to where it is now or even lower...yes they 'lost" money...But in reality you dont lose anything until you sell the btc...
All of us just use the BTC as like a token..So if you sell your gram of weed for $30 bucks...and at that tine the coin was worth $250 a coin...then they finalized and the coin was worth $125 then yes you "lost" money...but you really didn't..you lost value. You don't lose the money until you sell the coin. And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
But at the time I made the post I was referring to not only what I said up there...but also that the btc has gone up from the $20 range to the $50 to the $70..then it exploded to the $130 and basically went up $20+ per day every day...and when I wrote this my point was that as a vendor I believe that 95% of us have killed it...meaning we have sold something at $50 per btc and by the time the finalized it was $70 plus... Not only that but as I said above...we get paid on SR in BTC...so it is not like the buyer finalized and then within the hour you are converting those coins to cash...sure some do but again 99% of vendors take a while to do that.(sell there coins)
And so even though the market took a 50% to 70% hit it does not matter as long as you don't sell the coins..
So lets say last Friday it was at its high point of $270 on SR....then it starts diving...well if you just do not panic and can hold on it will come back...as it kind of has...It is not like it was $270 for 10 days and now it is $70 for the last 14 days... And when I made my simple post saying vendors are not really losing money...I was referring to the fact that most vendors have killed it...not only that...but the crash is just on paper...so as long as you didn't panic and sell the coins you had just got at $270 for $70...you are just fine.
As to the vendor I quoted... As my first line says...I was not trying to offend you by saying that your .08 btc sale is shit...but lets just be honest..that is a very little amount of money in the first place.... and unless you sold 5000 grams at .009 at the high of $270 per coin...I don't think you lost a lot of money. Also 100's of people read the forums..lets even call it 1000's...no message I or anyone can post is to everyone. I think that most (80%) are smart enough to understand that I am not saying every vendor and I do not need to be so delicate in the message I posted. People on here take things so personal(not even talking about you) ..I mean just in general. Also in here 300 people will read it..yet 1 asshole will respond...
So I am saying that most vendors will not lose a lot of money with the btc losing value. Also most vendors have actually made a killing with the btc going up so much that I was also saying that vendors should not start crying (again not talking about you) now that the btc has gone down 50% as in fact it went up 1000% in the last 3 months. As a vendor you should be smart enough to figure out the btc market pretty well and be prepared for this. And again I think MOST vendors were. As not a lot of them made post freaking out. And you are the one vendor that made your post and you are talking about grams of weed at .009...I mean I clearly was not talking about you and your little hobby. Also I think even you would come in here and admit you didn't get crushed by this. At least I hope this would not crush you...if it did then I am sorry BUT you should look to do something else.
As to the buyer that said when they should finalize...do so as you always would..when you get the product. It makes no difference when you finalize. As you pay in btc and when you paid 3 btc...it is going to be 3 btc the vendor gets not matter when you finalize...also in lite of what has been happening I would think that most vendors are just holding on to there coins right now anyways.
And as I have made clear...no one is losing any money on the vendor side unless they were dumb enough to sell there item at $270 per coin...and then they had to sell their coin at $100 a piece. There are a lot of vendors on here so I am sure 1 or 2 had to, But I would think 99% did not sell there coin and are waiting it out...
Also as a buyer...just use your coin as soon as you get it on SR...that way you cant get hurt..as most of you only buy the coin so you can shop in SR...so if you buy the coin...then you use it..who cared what the price of the btc is...just as long as you are smart enough to buy it at $100 and use it at $100. A lot of people that do not know shit have complained about how SR is slow to update their prices. When in fact that is simply not true. But also what it causes is a great thing for the buyer as you know exactly where the coin is going..so if you send you coin into SR ...you don't have to worry about it tanking in 5 min. It just does not happen. If you time it right...you will never lose a dollar.
Hope everyone that reads this understands it. I tried to write it as idiot proof.
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RxKing never fails to give a "For Dummies" version of how it goes down. Inevitably there will be someone who doesn't even understand that and will whine (read: talk out of their ass).
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
First I don't call selling a gram of weed making money. I mean do disrespect so don't get all upset at me saying that. You will agree that it very little money.
The point I was trying to make is that us vendors...MOST of us...make a lot of money...and in general the btc has done NOTHING but go up the last 11 months... And other then the vendors that were selling things at the $250 per coin...and then that dropped to where it is now or even lower...yes they 'lost" money...But in reality you dont lose anything until you sell the btc...
All of us just use the BTC as like a token..So if you sell your gram of weed for $30 bucks...and at that tine the coin was worth $250 a coin...then they finalized and the coin was worth $125 then yes you "lost" money...but you really didn't..you lost value. You don't lose the money until you sell the coin. And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
But at the time I made the post I was referring to not only what I said up there...but also that the btc has gone up from the $20 range to the $50 to the $70..then it exploded to the $130 and basically went up $20+ per day every day...and when I wrote this my point was that as a vendor I believe that 95% of us have killed it...meaning we have sold something at $50 per btc and by the time the finalized it was $70 plus... Not only that but as I said above...we get paid on SR in BTC...so it is not like the buyer finalized and then within the hour you are converting those coins to cash...sure some do but again 99% of vendors take a while to do that.(sell there coins)
And so even though the market took a 50% to 70% hit it does not matter as long as you don't sell the coins..
So lets say last Friday it was at its high point of $270 on SR....then it starts diving...well if you just do not panic and can hold on it will come back...as it kind of has...It is not like it was $270 for 10 days and now it is $70 for the last 14 days... And when I made my simple post saying vendors are not really losing money...I was referring to the fact that most vendors have killed it...not only that...but the crash is just on paper...so as long as you didn't panic and sell the coins you had just got at $270 for $70...you are just fine.
As to the vendor I quoted... As my first line says...I was not trying to offend you by saying that your .08 btc sale is shit...but lets just be honest..that is a very little amount of money in the first place.... and unless you sold 5000 grams at .009 at the high of $270 per coin...I don't think you lost a lot of money. Also 100's of people read the forums..lets even call it 1000's...no message I or anyone can post is to everyone. I think that most (80%) are smart enough to understand that I am not saying every vendor and I do not need to be so delicate in the message I posted. People on here take things so personal(not even talking about you) ..I mean just in general. Also in here 300 people will read it..yet 1 asshole will respond...
So I am saying that most vendors will not lose a lot of money with the btc losing value. Also most vendors have actually made a killing with the btc going up so much that I was also saying that vendors should not start crying (again not talking about you) now that the btc has gone down 50% as in fact it went up 1000% in the last 3 months. As a vendor you should be smart enough to figure out the btc market pretty well and be prepared for this. And again I think MOST vendors were. As not a lot of them made post freaking out. And you are the one vendor that made your post and you are talking about grams of weed at .009...I mean I clearly was not talking about you and your little hobby. Also I think even you would come in here and admit you didn't get crushed by this. At least I hope this would not crush you...if it did then I am sorry BUT you should look to do something else.
As to the buyer that said when they should finalize...do so as you always would..when you get the product. It makes no difference when you finalize. As you pay in btc and when you paid 3 btc...it is going to be 3 btc the vendor gets not matter when you finalize...also in lite of what has been happening I would think that most vendors are just holding on to there coins right now anyways.
And as I have made clear...no one is losing any money on the vendor side unless they were dumb enough to sell there item at $270 per coin...and then they had to sell their coin at $100 a piece. There are a lot of vendors on here so I am sure 1 or 2 had to, But I would think 99% did not sell there coin and are waiting it out...
Also as a buyer...just use your coin as soon as you get it on SR...that way you cant get hurt..as most of you only buy the coin so you can shop in SR...so if you buy the coin...then you use it..who cared what the price of the btc is...just as long as you are smart enough to buy it at $100 and use it at $100. A lot of people that do not know shit have complained about how SR is slow to update their prices. When in fact that is simply not true. But also what it causes is a great thing for the buyer as you know exactly where the coin is going..so if you send you coin into SR ...you don't have to worry about it tanking in 5 min. It just does not happen. If you time it right...you will never lose a dollar.
Hope everyone that reads this understands it. I tried to write it as idiot proof.
Excellent post :)
I've been coining it in for weeks with the rocketing rate so it would be churlish to start complaining now :)
My escrow funds took a massive hit in value, but they've already recovered somewhat and I'm confident the rate will keep building again.
I also took the opportunity to buy a shitload of coins at £30 each and I spent them at a rate of about £77, i just wish i had more cash in the exchange to take advantage :)
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And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
This guy is dreaming.
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
First I don't call selling a gram of weed making money. I mean do disrespect so don't get all upset at me saying that. You will agree that it very little money.
The point I was trying to make is that us vendors...MOST of us...make a lot of money...and in general the btc has done NOTHING but go up the last 11 months... And other then the vendors that were selling things at the $250 per coin...and then that dropped to where it is now or even lower...yes they 'lost" money...But in reality you dont lose anything until you sell the btc...
All of us just use the BTC as like a token..So if you sell your gram of weed for $30 bucks...and at that tine the coin was worth $250 a coin...then they finalized and the coin was worth $125 then yes you "lost" money...but you really didn't..you lost value. You don't lose the money until you sell the coin. And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
But at the time I made the post I was referring to not only what I said up there...but also that the btc has gone up from the $20 range to the $50 to the $70..then it exploded to the $130 and basically went up $20+ per day every day...and when I wrote this my point was that as a vendor I believe that 95% of us have killed it...meaning we have sold something at $50 per btc and by the time the finalized it was $70 plus... Not only that but as I said above...we get paid on SR in BTC...so it is not like the buyer finalized and then within the hour you are converting those coins to cash...sure some do but again 99% of vendors take a while to do that.(sell there coins)
And so even though the market took a 50% to 70% hit it does not matter as long as you don't sell the coins..
So lets say last Friday it was at its high point of $270 on SR....then it starts diving...well if you just do not panic and can hold on it will come back...as it kind of has...It is not like it was $270 for 10 days and now it is $70 for the last 14 days... And when I made my simple post saying vendors are not really losing money...I was referring to the fact that most vendors have killed it...not only that...but the crash is just on paper...so as long as you didn't panic and sell the coins you had just got at $270 for $70...you are just fine.
As to the vendor I quoted... As my first line says...I was not trying to offend you by saying that your .08 btc sale is shit...but lets just be honest..that is a very little amount of money in the first place.... and unless you sold 5000 grams at .009 at the high of $270 per coin...I don't think you lost a lot of money. Also 100's of people read the forums..lets even call it 1000's...no message I or anyone can post is to everyone. I think that most (80%) are smart enough to understand that I am not saying every vendor and I do not need to be so delicate in the message I posted. People on here take things so personal(not even talking about you) ..I mean just in general. Also in here 300 people will read it..yet 1 asshole will respond...
So I am saying that most vendors will not lose a lot of money with the btc losing value. Also most vendors have actually made a killing with the btc going up so much that I was also saying that vendors should not start crying (again not talking about you) now that the btc has gone down 50% as in fact it went up 1000% in the last 3 months. As a vendor you should be smart enough to figure out the btc market pretty well and be prepared for this. And again I think MOST vendors were. As not a lot of them made post freaking out. And you are the one vendor that made your post and you are talking about grams of weed at .009...I mean I clearly was not talking about you and your little hobby. Also I think even you would come in here and admit you didn't get crushed by this. At least I hope this would not crush you...if it did then I am sorry BUT you should look to do something else.
As to the buyer that said when they should finalize...do so as you always would..when you get the product. It makes no difference when you finalize. As you pay in btc and when you paid 3 btc...it is going to be 3 btc the vendor gets not matter when you finalize...also in lite of what has been happening I would think that most vendors are just holding on to there coins right now anyways.
And as I have made clear...no one is losing any money on the vendor side unless they were dumb enough to sell there item at $270 per coin...and then they had to sell their coin at $100 a piece. There are a lot of vendors on here so I am sure 1 or 2 had to, But I would think 99% did not sell there coin and are waiting it out...
Also as a buyer...just use your coin as soon as you get it on SR...that way you cant get hurt..as most of you only buy the coin so you can shop in SR...so if you buy the coin...then you use it..who cared what the price of the btc is...just as long as you are smart enough to buy it at $100 and use it at $100. A lot of people that do not know shit have complained about how SR is slow to update their prices. When in fact that is simply not true. But also what it causes is a great thing for the buyer as you know exactly where the coin is going..so if you send you coin into SR ...you don't have to worry about it tanking in 5 min. It just does not happen. If you time it right...you will never lose a dollar.
Hope everyone that reads this understands it. I tried to write it as idiot proof.
-The gram of weed is completely irrelevant, it was just an example.
-As for you saying vendors don't loose money, is completely ridiculous. Sure, the number of btc we have doesn't change but the value diminishes meaning it is worth less, meaning we loose money.
-Imagine going to a different country, buying their money so we can spend it in there country. All of a sudden this country's economy goes to shit and the money we bought is worth nothing. We still have the same amount of physical money but it is worth much less so we have lost money. Ps this is an example don't get carried away.
-Last thing, for you to say the btc price is going to go back up into la la land ($230+) is something I doubt. I think we will most likely see a small increase and then another panic sell which will plummet btc even more.
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
First I don't call selling a gram of weed making money. I mean do disrespect so don't get all upset at me saying that. You will agree that it very little money.
The point I was trying to make is that us vendors...MOST of us...make a lot of money...and in general the btc has done NOTHING but go up the last 11 months... And other then the vendors that were selling things at the $250 per coin...and then that dropped to where it is now or even lower...yes they 'lost" money...But in reality you dont lose anything until you sell the btc...
All of us just use the BTC as like a token..So if you sell your gram of weed for $30 bucks...and at that tine the coin was worth $250 a coin...then they finalized and the coin was worth $125 then yes you "lost" money...but you really didn't..you lost value. You don't lose the money until you sell the coin. And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
But at the time I made the post I was referring to not only what I said up there...but also that the btc has gone up from the $20 range to the $50 to the $70..then it exploded to the $130 and basically went up $20+ per day every day...and when I wrote this my point was that as a vendor I believe that 95% of us have killed it...meaning we have sold something at $50 per btc and by the time the finalized it was $70 plus... Not only that but as I said above...we get paid on SR in BTC...so it is not like the buyer finalized and then within the hour you are converting those coins to cash...sure some do but again 99% of vendors take a while to do that.(sell there coins)
And so even though the market took a 50% to 70% hit it does not matter as long as you don't sell the coins..
So lets say last Friday it was at its high point of $270 on SR....then it starts diving...well if you just do not panic and can hold on it will come back...as it kind of has...It is not like it was $270 for 10 days and now it is $70 for the last 14 days... And when I made my simple post saying vendors are not really losing money...I was referring to the fact that most vendors have killed it...not only that...but the crash is just on paper...so as long as you didn't panic and sell the coins you had just got at $270 for $70...you are just fine.
As to the vendor I quoted... As my first line says...I was not trying to offend you by saying that your .08 btc sale is shit...but lets just be honest..that is a very little amount of money in the first place.... and unless you sold 5000 grams at .009 at the high of $270 per coin...I don't think you lost a lot of money. Also 100's of people read the forums..lets even call it 1000's...no message I or anyone can post is to everyone. I think that most (80%) are smart enough to understand that I am not saying every vendor and I do not need to be so delicate in the message I posted. People on here take things so personal(not even talking about you) ..I mean just in general. Also in here 300 people will read it..yet 1 asshole will respond...
So I am saying that most vendors will not lose a lot of money with the btc losing value. Also most vendors have actually made a killing with the btc going up so much that I was also saying that vendors should not start crying (again not talking about you) now that the btc has gone down 50% as in fact it went up 1000% in the last 3 months. As a vendor you should be smart enough to figure out the btc market pretty well and be prepared for this. And again I think MOST vendors were. As not a lot of them made post freaking out. And you are the one vendor that made your post and you are talking about grams of weed at .009...I mean I clearly was not talking about you and your little hobby. Also I think even you would come in here and admit you didn't get crushed by this. At least I hope this would not crush you...if it did then I am sorry BUT you should look to do something else.
As to the buyer that said when they should finalize...do so as you always would..when you get the product. It makes no difference when you finalize. As you pay in btc and when you paid 3 btc...it is going to be 3 btc the vendor gets not matter when you finalize...also in lite of what has been happening I would think that most vendors are just holding on to there coins right now anyways.
And as I have made clear...no one is losing any money on the vendor side unless they were dumb enough to sell there item at $270 per coin...and then they had to sell their coin at $100 a piece. There are a lot of vendors on here so I am sure 1 or 2 had to, But I would think 99% did not sell there coin and are waiting it out...
Also as a buyer...just use your coin as soon as you get it on SR...that way you cant get hurt..as most of you only buy the coin so you can shop in SR...so if you buy the coin...then you use it..who cared what the price of the btc is...just as long as you are smart enough to buy it at $100 and use it at $100. A lot of people that do not know shit have complained about how SR is slow to update their prices. When in fact that is simply not true. But also what it causes is a great thing for the buyer as you know exactly where the coin is going..so if you send you coin into SR ...you don't have to worry about it tanking in 5 min. It just does not happen. If you time it right...you will never lose a dollar.
Hope everyone that reads this understands it. I tried to write it as idiot proof.
-The gram of weed is completely irrelevant, it was just an example.
-As for you saying vendors don't loose money, is completely ridiculous. Sure, the number of btc we have doesn't change but the value diminishes meaning it is worth less, meaning we loose money. -------
NO YOU DON'T LOSE MONEY...YOU LOSE VALUE. BUT THE VALUE HAS ALWAYS RISEN AND FALLEN. AND AGAIN I DON'T THINK THAT MANY VENDORS LOST THAT MUCH MONEY IN VALUE. I PROMISE THEY LOST A LOT MORE BY WHAT IT DID TO THE COINS THEY HAVE ON HAND VS WHAT THEY SOLD. BUT FOR THIS ARGUMENT, I WAS ONLY TALKING ABOUT VENDORS THAT WERE SELLING DURING THIS TIME AND WERE NOT SMART ENOUGH TO HANDLE IT CORRECTLY. I KNOW A VENDOR IS GOING TO TAKE ISSUE WITH ME SAYING "SMART ENOUGH" BUT THAT IS A FACT. I COULD HAVE ALSO USED SEASONED ENOUGH OR EVEN HAD ENOUGH EXPERIENCE TO KNOW WHAT TO DO. BUT NOT SMART ENOUGH SOUNDS BETTER :D
SO I WILL STICK BY MY STATEMENT THAT MOST VENDORS DIDN'T LOSE MONEY. AND THE ONES THAT DID WOULD HAVE HAD TO SELL THE BTC FOR THE LOSS...OTHER WISE THEY DIDN'T LOSE EITHER. ALSO AS I SAID IN MY LONG POST...IF YOU KNOW WHAT TO DO..THERE IS NO WAY ANY VENDOR SHOULD HAVE LOST A CENT.
-Imagine going to a different country, buying their money so we can spend it in there country. All of a sudden this country's economy goes to shit and the money we bought is worth nothing. We still have the same amount of physical money but it is worth much less so we have lost money. Ps this is an example don't get carried away.------------
IT IS JUST A REALLY BAD EXAMPLE. I GET WHERE YOU ARE GOING BUT IT JUST DOES NOT RELATE. WHAT EXAMPLE DOES IS THIS ONE. IMAGINE YOU ONLY BOUGHT BTC SO THAT YOU CAN THEN SEND THEM TO SR TO BUY DRUGS. IF YOU WERE NOT DOING THAT..YOU WOULD NEVER HAVE BOUGHT DRUGS. SO YOU BUY THE BTC AND YOU SEND IT TO SR. THE PROBLEM IS YOU PAID FOR $800 WORTH OF BTC AND YOU ONLY HAVE $700 IN YOUR ACCOUNT...SO YOU DECIDE TO JUST WAIT A FEW HOURS..YOU FALL ASLEEP...WHEN YOU WAKE UP THAT $700 IS NOW $1375. SO YOU PAY FOR YOUR ORDER AND NOW YOU HAVE YOUR ORDER PAID FOR AS IT WAS $890 AND YOU WERE SUPPOSED TO ONLY HAVE $10 LEFT...BUT INSTEAD YOU HAVE$475.
YES THIS IS AN EXAMPLE AND ONE THAT HAPPENED TO ALMOST EVERY SINGLE BUYER IN THE LAST 6 MONTHS..BUT REALLY HAPPENED IN THE LAST 3 MONTHS. AND IT IS EVEN BETTER FOR THE VENDORS...SO GOOD IN FACT I AM EMBARRASSED TO TELL PEOPLE WHAT HAPPENED TO ME AND OTHER VENDOR I KNOW...AND EVEN WITH THE CRASH WE MADE MONEY. AGAIN ALL THE NUMBERS ARE JUST ON PAPER...ALSO THEY WILL GO BACK UP.
ONE OTHER THING....I SAW A POST A FEW BACK FROM AN IDIOT THAT QUOTED ME SAYING IT WILL BE BACK TO 200+ SOON...HE SAID I WAS DREAMING...AGAIN THIS KID IS A CERTIFIED MORON...BUT I WILL ADDRESS IT..THE BTC WILL GO BACK UP...IT WILL GO EVEN HIGHER. IT IS JUST A MATTER OF TIME...AND NOT A LOT OF TIME...LIKE LESS THEN 10 DAYS. AND WHEN IT DOES WILL YOU MIAMI RESPECTFULLY SHUT THE FUCK UP...AS IT WILL ONCE AGAIN PROVE I AM RIGHT AND YOU ARE WRONG...AGAIN!
-Last thing, for you to say the btc price is going to go back up into la la land ($230+) is something I doubt. I think we will most likely see a small increase and then another panic sell which will plummet btc even more.
I KIND OF ADDRESSED THAT IN THE END OF THE LAST POST. LET ME FIRST START OFF SAYING I LIKE HOW YOU MADE YOUR ARGUMENTS. I CHOSE TO JUST TYPE IN CAPS AND ADDRESS EACH ONE BECAUSE TO QUOTE THEM TAKES WAY TO LONG. SORRY TO EVERYONE THAT HATES CAPS...I HAVE BEEN AROUND WHEN IT WENT TO 40 BACK TO 30 CENTS...IT WAS BEYOND CRAZY THEN. DPR WAS A VENDOR AND NOTHING WAS RUN LIKE IT IS..AND IT WAS ALMOST IMPOSSIBLE TO MAKE MONEY WITH THE CRASHES. WELL I BRING THAT UP BECAUSE I HAVE SEEN SO MANY STUPID POST TALKING ABOUT THE BUBBLE, TALKING ABOUT SHOULD THEY SELL THERE CAR AND MANY MANY MORE WHERE THEY GET THERE INFO JUST READING THE OTC BOARDS ON BTC AND THEN THEY COME IN HERE AND SPREAD THERE BULLSHIT. THEY SAID THE DICE WAS BEHIND A HACK AND THEY HAVE SAID 100'S OF OTHER WRONG THINGS. SUPPLY AND DEMAND IS WHAT RAISES PRICES AND LOWERS THEM...BUT WHAT HAS HAPPENED THE LAST MONTH...IS TRADERS STARTED BUYING UP COINS...AND THEY HAVE A NUMBER IT IS GOING TO GO TO...AND I CAN TELL YOU IT IS A LOT HIGHER THEN 250. AND WHEN PEOPLE SELL IF AS THEY DID, THIS MARKET IS SO NEW AND SO SMALL THAT IT JUST CAUSES A PANIC...IN FACT 80% OF LARGE PURCHASES ARE NOT EVEN ACCOUNTED FOR. AND THERE ARE A TON OF REASONS TO SIT HERE AND EXPLAIN WHY IT WILL GO BACK UP. I WONT BORE YOU WITH THAT. I WILL TELL YOU RESPECTFULLY THAT YES I DO BELIEVE THAT THE BTC WILL BE BACK OVER 200 THIS COMING WEEK. I PERSONALLY HOP IT GOS LOWER...BUT THAT IS A FANTASY DREAM. I DO KNOW THAT YOU DON.T LOSE A THING IF YOU DO NOT SELL. AND YOU WONT HAVE TO WAIT LONG. I WOULD SUGGEST THAT IF YOU ARE A VENDOR THAT MOVES PRODUCT...YOU SHOULD GET INTO BUYING BTC TO HEDGE AND FOR A LOT OF OTHER REASONS...IF YOU DID THAT..YOU WOULD NEVER HAVE A WORRY. ALSO, AS I SAID IN ANOTHER POST...MOST THE VENDORS COMPLAINING ARE VERY SMALL TIME VENDORS AND THOSE VENDORS NEED TO TURN AROUND AND SELL THEIR COIN RIGHT AWAY...AND THOSE VENDORS WILL LOSE SOME MONEY...BUT THEY SHOULD HAVE ALREADY MADE A KILLING ON WHAT HAS HAPPENED BEFORE THIS...SO AGAIN I WILL SAY..NO VENDOR SHOULD HAVE LOST A PENNY.
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I do hope it goes back up, but to be honest I would just prefer a stable price.
anyway. nice speaking with you RxKing, enjoy the rest of your weekend.
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I agree..it was pretty sweet when it was $5 for a while then we were at $15 to12 forever...that was nice. But I do believe it will go a lot higher then 260 and the truth id for vending that is bad...but there are ways to make it work. The real problem is how many stupid fucks are on here. They do not understand the simplest of things. Just look at the shit they post...But there are still ways to vend and vend well no matter what the btc does. We just have to adjust.
Good luck to you and nice talking to you too...always nice when people can have different opinions or the same and just type and give there side..then type and get my side and shake hands and move forward. There used to be a lot of that...and you could actually learn on hear Now way to many idiots and those idiots don't like to be called idiots, but they also have a porblem being smart. There are so many dumb things said in here. And so many that say the dumb shit and get called out that they are wrong...and they just go create another screen name.. Oh well its just the forums...
Time will tell if they are going back up over 200 anytime soon..I am on the record saying they will for sure and Heat fan is on the record saying they won't anytime soon. We should make a death match...who ever is wrong can not post on the forums for 6 months. Unless they are called out and asked a questions. Or even better they lose there form handle. I am willing to do that heatfan...are you? The bet would be in the next 10 days the btc is over 200. If that happens I win and you need to quit posting with the name heat fan.(of course it would be a lot better if you just quit posting all together but I think just losing your name is good enough!) I mean it is baseball season, and you can just find out who has the best record and fan them..you can be Nationalfan1990, or jump to Nascar and be Jimmyfan1990.
So it is up to you.....
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No vendor is losing money. And no vendor should be complaining.
O RLY?
Vendors aren't loosing money? get out of here... vendor sells a gram of weed for 0.09 btc, order goes through everybody happy. Then 4hour later the price crashes and that same gram of weed is now priced at 0.12 btc.. the vendor lost 0.3btc. get with it iv been speaking to a couple of fellow vendors and its agreed that we are in the shit if this price doesn't stabilize.
First I don't call selling a gram of weed making money. I mean do disrespect so don't get all upset at me saying that. You will agree that it very little money.
The point I was trying to make is that us vendors...MOST of us...make a lot of money...and in general the btc has done NOTHING but go up the last 11 months... And other then the vendors that were selling things at the $250 per coin...and then that dropped to where it is now or even lower...yes they 'lost" money...But in reality you dont lose anything until you sell the btc...
All of us just use the BTC as like a token..So if you sell your gram of weed for $30 bucks...and at that tine the coin was worth $250 a coin...then they finalized and the coin was worth $125 then yes you "lost" money...but you really didn't..you lost value. You don't lose the money until you sell the coin. And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
But at the time I made the post I was referring to not only what I said up there...but also that the btc has gone up from the $20 range to the $50 to the $70..then it exploded to the $130 and basically went up $20+ per day every day...and when I wrote this my point was that as a vendor I believe that 95% of us have killed it...meaning we have sold something at $50 per btc and by the time the finalized it was $70 plus... Not only that but as I said above...we get paid on SR in BTC...so it is not like the buyer finalized and then within the hour you are converting those coins to cash...sure some do but again 99% of vendors take a while to do that.(sell there coins)
And so even though the market took a 50% to 70% hit it does not matter as long as you don't sell the coins..
So lets say last Friday it was at its high point of $270 on SR....then it starts diving...well if you just do not panic and can hold on it will come back...as it kind of has...It is not like it was $270 for 10 days and now it is $70 for the last 14 days... And when I made my simple post saying vendors are not really losing money...I was referring to the fact that most vendors have killed it...not only that...but the crash is just on paper...so as long as you didn't panic and sell the coins you had just got at $270 for $70...you are just fine.
As to the vendor I quoted... As my first line says...I was not trying to offend you by saying that your .08 btc sale is shit...but lets just be honest..that is a very little amount of money in the first place.... and unless you sold 5000 grams at .009 at the high of $270 per coin...I don't think you lost a lot of money. Also 100's of people read the forums..lets even call it 1000's...no message I or anyone can post is to everyone. I think that most (80%) are smart enough to understand that I am not saying every vendor and I do not need to be so delicate in the message I posted. People on here take things so personal(not even talking about you) ..I mean just in general. Also in here 300 people will read it..yet 1 asshole will respond...
So I am saying that most vendors will not lose a lot of money with the btc losing value. Also most vendors have actually made a killing with the btc going up so much that I was also saying that vendors should not start crying (again not talking about you) now that the btc has gone down 50% as in fact it went up 1000% in the last 3 months. As a vendor you should be smart enough to figure out the btc market pretty well and be prepared for this. And again I think MOST vendors were. As not a lot of them made post freaking out. And you are the one vendor that made your post and you are talking about grams of weed at .009...I mean I clearly was not talking about you and your little hobby. Also I think even you would come in here and admit you didn't get crushed by this. At least I hope this would not crush you...if it did then I am sorry BUT you should look to do something else.
As to the buyer that said when they should finalize...do so as you always would..when you get the product. It makes no difference when you finalize. As you pay in btc and when you paid 3 btc...it is going to be 3 btc the vendor gets not matter when you finalize...also in lite of what has been happening I would think that most vendors are just holding on to there coins right now anyways.
And as I have made clear...no one is losing any money on the vendor side unless they were dumb enough to sell there item at $270 per coin...and then they had to sell their coin at $100 a piece. There are a lot of vendors on here so I am sure 1 or 2 had to, But I would think 99% did not sell there coin and are waiting it out...
Also as a buyer...just use your coin as soon as you get it on SR...that way you cant get hurt..as most of you only buy the coin so you can shop in SR...so if you buy the coin...then you use it..who cared what the price of the btc is...just as long as you are smart enough to buy it at $100 and use it at $100. A lot of people that do not know shit have complained about how SR is slow to update their prices. When in fact that is simply not true. But also what it causes is a great thing for the buyer as you know exactly where the coin is going..so if you send you coin into SR ...you don't have to worry about it tanking in 5 min. It just does not happen. If you time it right...you will never lose a dollar.
Hope everyone that reads this understands it. I tried to write it as idiot proof.
now I know why you sell drugs on the internet to supplement your income.
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And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
This guy is dreaming.
show some faith!
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I had an order in.. bulk.. Vendor canceled on me bc of the btc drop bc he would of lost out on alot of money from me. I lost $750 that day and another 650$ a week prior for pretty much same thing.
fuk
Hi edar you scamming prick :D
I had my suspicions...
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And if you are smart enough you hold on to the coin and wait..as within 7 days it will be back up over $200.
This guy is dreaming.
The weighted average is already back up to $110 this morning.
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Time will tell if they are going back up over 200 anytime soon..I am on the record saying they will for sure and Heat fan is on the record saying they won't anytime soon. We should make a death match...who ever is wrong can not post on the forums for 6 months. Unless they are called out and asked a questions. Or even better they lose there form handle. I am willing to do that heatfan...are you? The bet would be in the next 10 days the btc is over 200. If that happens I win and you need to quit posting with the name heat fan.(of course it would be a lot better if you just quit posting all together but I think just losing your name is good enough!) I mean it is baseball season, and you can just find out who has the best record and fan them..you can be Nationalfan1990, or jump to Nascar and be Jimmyfan1990.
So it is up to you.....
Lol, what a dumb bet. I have nothing to win or lose by doing so, so no thanks. But yeah, its not going back over 200 anytime soon.
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you guys are too funny..
Hows it hanging Shadow?
I thinke btc will become more valuable as time passes.200 in 10 days?? I don think so.
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Time will tell if they are going back up over 200 anytime soon..I am on the record saying they will for sure and Heat fan is on the record saying they won't anytime soon. We should make a death match...who ever is wrong can not post on the forums for 6 months. Unless they are called out and asked a questions. Or even better they lose there form handle. I am willing to do that heatfan...are you? The bet would be in the next 10 days the btc is over 200. If that happens I win and you need to quit posting with the name heat fan.(of course it would be a lot better if you just quit posting all together but I think just losing your name is good enough!) I mean it is baseball season, and you can just find out who has the best record and fan them..you can be Nationalfan1990, or jump to Nascar and be Jimmyfan1990.
So it is up to you.....
Lol, what a dumb bet. I have nothing to win or lose by doing so, so no thanks. But yeah, its not going back over 200 anytime soon.
Well you would lose and we would all win..as you would quit posting!!! ( and the bet was sarcasim) It was me pointing out how I will of course be right yet again...and you well....you will be you...wrong ;D Though the good news is you want to be wrong. As you have pointed out to us all how you are a keen investor in the BTC market and have made a killing... :P
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I thinke btc will become more valuable as time passes.200 in 10 days?? I don think so.
Yea your right I am pretty crazy to think that....it only went from 50 to 280 in 13 days... ;D