Silk Road forums

Support => Customer support => Topic started by: CHROOT on May 14, 2013, 09:01 pm

Title: When does escrow start?
Post by: CHROOT on May 14, 2013, 09:01 pm

If a buyer orders a $100 item when bitcoin is 100 but I don't mark it in transit for a few hours and bitcoin is now 90, how much sits in escrow, 1 btc or 0.9 btc?

Title: Re: When does escrow start?
Post by: scout on May 14, 2013, 09:33 pm

Good question!  I'm not perfectly clear on what the answer is, so hopefully more enlightened members / mods can help answer your question.  Just guessing, I would assume that it is based on the value at the time of the buyer placing the order ... so, in your example, it would be 1 btc.

Title: Re: When does escrow start?
Post by: Libertas on May 15, 2013, 06:06 am

Yup, scout's correct, the order is hedged the moment it is placed. From the Buyer's Guide:

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

Quote

When checking out, you will see which orders will be hedged and which won't. After the order is placed, your escrow balance will reflect the dollar value of your hedged orders and the Bitcoin value of your unhedged orders. All hedged orders are hedged as soon as the order is placed. So when getting a refund for hedged items, don't be surprised if the number of Bitcoins you get back is not the same as the amount you paid.

Locking as resolved.

Libertas