Silk Road forums
Support => Technical support => Topic started by: mrroboto187 on July 28, 2011, 08:12 pm
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I had someone place an order from me. The listing in my account (my part of the transaction) is .81BTC. On my user screen it is .86BTC (adjusted for SR fees).
Now, I had someone purchase 10 of this product which should have equated to 8.10BTC on my end, correct? What came through when he finalized the transaction was 7.83BTC. The listing was hedged and he finalized it before I shipped, so it was only in the escrow for about 1 minute.
I'm not upset or anything, .3BTC is nothing, just curious as to where my logic is flawed.
Thanks
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Man, you might as well "charge it to the game", consider it chump/green tax.
You aint getting your Bitcoins back.
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I'm not upset or anything, .3BTC is nothing, just curious as to where my logic is flawed.
Did it sound like I wanted it back? I would be more than happy to give it to SR but if I was working with very large quantities of monies/orders I would want to know what to expect in terms of actual profit. It was just a straightforward question. The sentence above pretty much sums up what I was asking. Again, just wondering what happened to that 0.033%.
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When payment in escrow is hedged, the exchange rate we use is not the last price, nor is it the 24hr moving average we use when you peg your prices to the dollar. Instead, it is the price of the best open order or orders for your transaction volume. When hedging, this is the best asking price, and when un-hedging, this is the best bidding price. So when hedging and then immediately un-hedging, your always going to lose this small percentage. For those who know, this is called the bid/ask spread.
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Ah, that makes sense. Thanks for clearing it up :)