Silk Road forums

Support => Customer support => Topic started by: Mithril9000 on May 09, 2013, 01:51 pm

Title: Opening a Vendor account - Fund and refund
Post by: Mithril9000 on May 09, 2013, 01:51 pm

Hi,

to open a vendor account one has to fund some BTC, currently worth around 500$.
what happens if BTC drop to 10$ next month? Then the fund is really worth just 50$ - do you compensate or is that just an ugly situation for a vendor with a high risk to loose (or gain) money?

Title: Re: Opening a Vendor account - Fund and refund
Post by: Libertas on May 09, 2013, 05:28 pm

Quote from: Mithril9000 on May 09, 2013, 01:51 pm

Hi,

to open a vendor account one has to fund some BTC, currently worth around 500$.
what happens if BTC drop to 10$ next month? Then the fund is really worth just 50$ - do you compensate or is that just an ugly situation for a vendor with a high risk to loose (or gain) money?

Hi Mithril9000,

Please read the following on the SR Wiki:

http://dkn255hz262ypmii.onion/wiki/index.php?title=Seller%27s_Guide#Bond

http://dkn255hz262ypmii.onion/wiki/index.php?title=Frequently_Asked_Questions#How_do_I_become_a_vendor.3F

The $500 is paid in as a bond, and it is not hedged to a USD amount. It is paid in in Bitcoin, held in Bitcoin and paid out in Bitcoin. You will get the exact same amount of Bitcoin back as you paid in, regardless of which way Bitcoin's value goes - whether that is to $10 or $1000.

Libertas