Silk Road forums

Support => Technical support => Topic started by: wretched on April 10, 2012, 10:48 pm

Title: Cash advance???
Post by: wretched on April 10, 2012, 10:48 pm
Just saw that on my account page. Not quite sure how it works, but I think it is interesting.
Title: Re: Cash advance???
Post by: warlordsalmon on April 10, 2012, 11:31 pm
me too. i was looking for a topic on this  :o
Title: Re: Cash advance???
Post by: ProfADaemon on April 10, 2012, 11:41 pm
What determines the cash advance limit?

And when it says 4.8% rate... is that daily, weekly, monthly, or annual interest rate?
Title: Re: Cash advance???
Post by: wretched on April 10, 2012, 11:50 pm
my limit is apparently zero.
Title: Re: Cash advance???
Post by: rjw252 on April 10, 2012, 11:52 pm
Where are you guys seeing this?  Don't see anything on my account page, only for particular members maybe?
Title: Re: Cash advance???
Post by: wretched on April 11, 2012, 12:17 am
I logged on to a buyer only account I have set up, and it wasn't there, but I don't know if it is a seller only thing or an age of account thing (buyer only account is only a month or so old)
Title: Re: Cash advance???
Post by: Dread Pirate Roberts on April 11, 2012, 12:20 am
seller's only, check out the seller's guide  8)
Title: Re: Cash advance???
Post by: wretched on April 11, 2012, 12:22 am
I guess this thread can be removed then.
Title: Re: Cash advance???
Post by: Pfandleiher on April 11, 2012, 12:27 am
i still dont have access to the sellers area :/
Title: Re: Cash advance???
Post by: fitness_n_herb on April 11, 2012, 12:29 am
Where is this?

+1 for not finding this. Could someone knowledgeable explain things?

Thanks! ;D
Title: Re: Cash advance???
Post by: fitness_n_herb on April 11, 2012, 12:30 am
seller's only, check out the seller's guide  8)

Of course :)
Thanks there mate!
Title: Re: Cash advance???
Post by: wretched on April 11, 2012, 01:56 am
seems like maybe this cash advance thing might be a step in the direction of delaying the ability to finalize... just saying some sellers claim cash flow is why they require FE *cough*Mike.*cough*Murphey*cough* the cash advance feature may be what those sellers need while buyers are under the protection of escrow!
Title: Re: Cash advance???
Post by: Red Flag on April 11, 2012, 02:08 am
Is there an explanation about the cash advance anywhere?
Title: Re: Cash advance???
Post by: BigBill6778 on April 11, 2012, 02:52 am
might be for sellers so they can extract some Bitcoin to replenish there supplys so they don't have $$$$ thousands tied up waiting for release
Title: Re: Cash advance???
Post by: godofall2 on April 11, 2012, 03:01 am
need to have a box you check to confirm it. with it accept ฿ box just being filled with what your max is can be very easy to clink go and take the advance on accident. 
Title: Re: Cash advance???
Post by: Dopeboy on April 11, 2012, 04:06 am
When can I get a car loan and a mortgage?  ;D
Title: Re: Cash advance???
Post by: RR on April 11, 2012, 07:12 am
look on the sellers guild http://silkroadvb5piz3r.onion/silkroad/sellers_guide

and sr what a great idea allowing sellers to borrow the funds being held in escrow is a great idea this may just see an end to finalizing early

as a vendor i will be giving some hard thought to changing my finalize early policy from all international to just users with a 10 or less stats :)
Title: Re: Cash advance???
Post by: chakakhan on April 11, 2012, 08:53 am
It's a good idea for sure but is not going to stop Sellers from asking for FE.

Right now I've got more than 200 BTC in escrow and waiting for them to be released .. my cash advance limit is 12 BTC.
Title: Re: Cash advance???
Post by: RR on April 11, 2012, 10:21 am
dam there must be a problem there my cash advance matches my escrow ammount :)
Title: Re: Cash advance???
Post by: RR on April 12, 2012, 09:57 am
right please bare with me on this question as its hard to explain what i mean......

ive noticed that the cash advance beta will only offer me what i have in my btc escrow, i placed an order with someone who does not hedge there sales for 4.10btc so these 4.10btc went in to my btc escrow, now the orders that buyers have placed with me go straight in to the USD escrow (about 9btc) cos i hedge my orders but the cash advance beta only offers me 4btc so is the cash advance beta offering me coins that ive already spent just because they have ended up in my BTC escrow??? and if so do i need to stop hedging my orders to use the cash advance beta???

DPR you may have to answer this one mate!

if you dont understand what i mean please ask and i will try and explain in more simple terms :)
Title: Re: Cash advance???
Post by: RR on April 12, 2012, 10:58 am
okay so just finalized my order for 4btc and just gained another 5btc with an order making my total coins in escrow 14btc and my cash advanced limit is the same 4btc?

DPR can you better explain how the limit is set please?
Title: Re: Cash advance???
Post by: Dread Pirate Roberts on April 12, 2012, 05:58 pm
okay so just finalized my order for 4btc and just gained another 5btc with an order making my total coins in escrow 14btc and my cash advanced limit is the same 4btc?

DPR can you better explain how the limit is set please?

the total you have in escrow from sales you've made is the upper limit of your cash advance limit (hedged or unhedged, doesn't matter).  Sometimes the limit is lower if you are new or havn't been doing as much business lately, but it's never higher.
Title: Re: Cash advance???
Post by: RR on April 13, 2012, 05:26 pm
Right so i borrowed 5BTC this morning as i had 14+ BTC in escrow witch was really handy as it ment i could order weed for the weekend  :)

But one of my sent orders finalized and 3btc has gone in to my SR account? why did it not come off my debt? or do i have to have the hole 5BTC in there for my debt to be recalled?
Title: Re: Cash advance???
Post by: Thunderweed on April 14, 2012, 01:46 am
might be for sellers so they can extract some Bitcoin to replenish there supplys so they don't have $$$$ thousands tied up waiting for release

Probably is, there's a few big vendors who on some items only offer FE because they'd need the cash on hand asap for more product
Title: Re: Cash advance???
Post by: GreenPEAs on April 24, 2012, 01:35 am
How do I pay it back? I've got $100+ in my account and far more in escrow, but it hasn't automatically "repaid" itself yet.
Title: Re: Cash advance???
Post by: ProfADaemon on April 27, 2012, 03:41 pm
How do I pay it back? I've got $100+ in my account and far more in escrow, but it hasn't automatically "repaid" itself yet.

Seriously... how do you pay the cash advance back?! I only needed it for a day ... I hope it's not charging me daily interest or something now!
Title: Re: Cash advance???
Post by: RR on May 03, 2012, 12:40 pm
im finding the cash advance fustraiting, when i could use them coins i have in escrow (21btc) and my limit says 4btc. why i have 100% feedback done over 170sales and been here since the birth of silkroad and im not trusted with no more than 4btc! its insulting i could use them coins to order my weed and stop me from having to put my hand in my real pocket.