Silk Road forums
Support => Technical support => Topic started by: Chopperos on October 17, 2012, 07:03 pm
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Hi,
I paid for some product off a vendor that had the quantity listed. BTC went out for 59.26. Vendor emailed and cancelled order due to not enough stock. I was refunded only 53.83 BTC
Where is the remaining 5.43 BTC? And why is it my loss and not the vendors as he cancelled the order?
Can anyone shed any light on how this whole process works?
cheers.....
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It is because the vendor was hedging his escrow. This means as soon as you made the order the BTC were converted to USD, and when the money came out of escrow (when it was cancelled) it was converted back to BTC. There is a 4% fee for this which SR takes. The vendor decides if the service is used or not.
There is much more info out there about this (many many threads) if you search a little.
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Also, since you lost ~9%, not just 4%, it shows that BTC went up in value 5% (relative to the USD) in the time between your order and the cancel.
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Hi,
I paid for some product off a vendor that had the quantity listed. BTC went out for 59.26. Vendor emailed and cancelled order due to not enough stock. I was refunded only 53.83 BTC
Where is the remaining 5.43 BTC? And why is it my loss and not the vendors as he cancelled the order?
Can anyone shed any light on how this whole process works?
cheers.....
You got your dollar amount back, instead of the BTC amount.
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Hi,
I paid for some product off a vendor that had the quantity listed. BTC went out for 59.26. Vendor emailed and cancelled order due to not enough stock. I was refunded only 53.83 BTC
Where is the remaining 5.43 BTC? And why is it my loss and not the vendors as he cancelled the order?
Can anyone shed any light on how this whole process works?
cheers.....
As a vendor yourself you should perhaps read the Seller's Guide again.. :-\