Silk Road forums
Support => Technical support => Topic started by: evlsnowman on September 04, 2012, 03:41 am
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I bought 2 things on silkroad,and I went to cancle bought of them.I right clicked open in new tabs for both of the cancel buttons,and now I only got a refund for 1 of them.I had spent like 9btc and I only got back around $60 worth.I nobody will probally will be able to help me cause it was my fault but I want to know could I get it back or is it just lost?
thanks
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could somebody please help me?
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I bought 2 things on silkroad,and I went to cancle bought of them.I right clicked open in new tabs for both of the cancel buttons,and now I only got a refund for 1 of them.I had spent like 9btc and I only got back around $60 worth.I nobody will probally will be able to help me cause it was my fault but I want to know could I get it back or is it just lost?
thanks
Hi evlsnowman,
This quote from PlutoPete in another thread shows one explanation for the difference between what you originally paid and what you got back:
It sounds like one order is hedged and the other isn't.
Hedged orders show as dollars and unhedged show as bitcoins (ED: on your account page, in the 'escrow' section.). If a hedged order doesn't work out you get back the dollar value of your order when placed, unhedged and you get back the bitcoin value you paid :)
Also:
My Refund Was NOT 100%
The order was hedged; you were refunded the dollar value you put into escrow, at the exchange rate of the time of refund, resulting in a different number of BTC.
But why is that 4% fee taken out even when the vendor just cancels right away?! That's so not fair!
What most people don't seem to realize is that it's not a simple fee. It's a facet of currency conversion - when a hedged order is placed, your BTC are virtually converted to USD. When the order is closed, whether by finalization or resolution or cancellation, those virtual USD are converted back to BTC. Any time you engage in such a conversion, real or virtual, you lose the bid-ask spread. This is usually about 4%.