Silk Road forums
Support => Customer support => Topic started by: lonerism on August 10, 2013, 05:44 pm
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I placed an order on Wednesday, it's now Sunday and still listed as "processing"
The seller hasn't replied to my 2 messages and he has logged in every day.
I've used him before and he has 100% feedback.
What happens when I cancel?
Is my Bit Coins available to purchase from someone else?
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Yeah I think you should be able to cancel, and you probably should. Afterwards send him a message telling him he is a cunt. Make sure you have your bit coins before you do this.
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As soon as the cancel button becomes available (I think it's 3 days), you have the option to use it. It's your choice - show more patience for move on. Vendor's get backed up. Shit happens.
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if the order was hedged know that you will loose around 5% of your bitcoins if the order is cancelled. usually the seller pays the fee but if it's cancelled the buyer still has too it's happened to me
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I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
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I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
Silk Road does not take commission on cancelled orders. Commission is deducted from the final amount when the order is finalized before it is paid out to the vendor, not when the order is placed.
Libertas
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I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
Silk Road does not take commission on cancelled orders. Commission is deducted from the final amount when the order is finalized before it is paid out to the vendor, not when the order is placed.
Libertas
SR doe's keep something as I cancelled an order recently from my buyer account and got back less than I paid.
You keep the hedging fee then if I'm not mistaken if the buyer chooses to utilize it (which most do) ?
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I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
Silk Road does not take commission on cancelled orders. Commission is deducted from the final amount when the order is finalized before it is paid out to the vendor, not when the order is placed.
Libertas
SR doe's keep something as I cancelled an order recently from my buyer account and got back less than I paid.
You keep the hedging fee then if I'm not mistaken if the buyer chooses to utilize it (which most do) ?
The buyer doesn't choose to utilise hedging or not. The vendor sets their listings to hedged or unhedged, so the vendor controls that aspect of a purchase. If a vendor is hedging their listings then buyers do lose the ~4% hedging fee on cancelled orders, just as vendors are charged the ~4% hedging fee when the order is finalized.
http://dkn255hz262ypmii.onion/wiki/index.php?title=Seller%27s_Guide#Escrow_Hedging
You can expect a loss of about 4% of your normal payment when using the escrow hedging feature. This is due to the fact that, both when hedging and unhedging, you will lose the bid-ask spread between the available orders that can be used to fill your hedging order.
The buyer is the beneficiary of hedging when an order is cancelled, therefore the buyer covers the hedging fee. A vendor is the beneficiary of hedging when an order is finalized, therefore the vendor covers the hedging fee. Silk Road gets is not the beneficiary of a hedged order, and as we are not the beneficiary of hedging we do not cover the hedging fee.
It is not kept by Silk Road; it is used to cover the cost of the bid-ask spread between the available orders that can be used to fill your hedging order. That is why it is ~4% [circa. 4%], and not a set figure. As it is charged both when hedging and unhedging, it cannot be calculated into the "expected" amount shown that a vendor is set to receive when the order is finalized (unhedged).
Libertas
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The buyer is the beneficiary of hedging when an order is cancelled, therefore the buyer covers the hedging fee. A vendor is the beneficiary of hedging when an order is finalized, therefore the vendor covers the hedging fee. Silk Road gets is not the beneficiary of a hedged order, and as we are not the beneficiary of hedging we do not cover the hedging fee.
It is not kept by Silk Road; it is used to cover the cost of the bid-ask spread between the available orders that can be used to fill your hedging order. That is why it is ~4% [circa. 4%], and not a set figure. As it is charged both when hedging and unhedging, it cannot be calculated into the "expected" amount shown that a vendor is set to receive when the order is finalized (unhedged).
Libertas
As somebody who doesn't believe in hedging and see's it as an necessary "tax" in a way this irks me a bit but I cant complain either since when ordering checkout does tell me if it's hedged or not.
Thanks for clarification
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What do you do if you have an international package about to Auto finalize, from a new vendor, who I believe is trying to scam people by means of AutoFinalize and failed promises?
Vendor drags out communication over a week, says he needs my address through privnote cuz he broke his pgp, then says he needs it again cuz he got confused, then he marks 'in transit' before i resend him my address or cancel my order, and never checks my msgs for days. Whats SR going to do when 20 ppl come forward announcing the new autofinalize scammers? I'm going to ask them to keep funds in escrow until i can verify this vendor sent something. Is SR going to care? I doubt it.
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What do you do if you have an international package about to Auto finalize, from a new vendor, who I believe is trying to scam people by means of AutoFinalize and failed promises?
Vendor drags out communication over a week, says he needs my address through privnote cuz he broke his pgp, then says he needs it again cuz he got confused, then he marks 'in transit' before i resend him my address or cancel my order, and never checks my msgs for days. Whats SR going to do when 20 ppl come forward announcing the new autofinalize scammers? I'm going to ask them to keep funds in escrow until i can verify this vendor sent something. Is SR going to care? I doubt it.
Is there a reason you haven't clicked the 'resolve' button yet..? ??? You need to take the order to resolution; that process is clearly explained in the FAQ section of the Wiki.
Please read the SR Wiki in its entirety:
http://dkn255hz262ypmii.onion/wiki/index.php?title=Main_Page
Libertas
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I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
Silk Road does not take commission on cancelled orders. Commission is deducted from the final amount when the order is finalized before it is paid out to the vendor, not when the order is placed.
Libertas
SR doe's keep something as I cancelled an order recently from my buyer account and got back less than I paid.
You keep the hedging fee then if I'm not mistaken if the buyer chooses to utilize it (which most do) ?
The buyer doesn't choose to utilise hedging or not. The vendor sets their listings to hedged or unhedged, so the vendor controls that aspect of a purchase. If a vendor is hedging their listings then buyers do lose the ~4% hedging fee on cancelled orders, just as vendors are charged the ~4% hedging fee when the order is finalized.
http://dkn255hz262ypmii.onion/wiki/index.php?title=Seller%27s_Guide#Escrow_Hedging
You can expect a loss of about 4% of your normal payment when using the escrow hedging feature. This is due to the fact that, both when hedging and unhedging, you will lose the bid-ask spread between the available orders that can be used to fill your hedging order.
The buyer is the beneficiary of hedging when an order is cancelled, therefore the buyer covers the hedging fee. A vendor is the beneficiary of hedging when an order is finalized, therefore the vendor covers the hedging fee. Silk Road gets is not the beneficiary of a hedged order, and as we are not the beneficiary of hedging we do not cover the hedging fee.
It is not kept by Silk Road; it is used to cover the cost of the bid-ask spread between the available orders that can be used to fill your hedging order. That is why it is ~4% [circa. 4%], and not a set figure. As it is charged both when hedging and unhedging, it cannot be calculated into the "expected" amount shown that a vendor is set to receive when the order is finalized (unhedged).
Libertas
so for a cancelled or that's unhedged do you get back your exact amount of bitcoins or are some still deducted?
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For unhedged orders, you get back exactly the amount of coins you originally spent.
Something that is important because some buyers set their accounts to display is a currency other then BTC. So if BTC went down between the time of order placement until time of order cancellation, while you are getting back the exact amount of coin spent on the unhedged order, you amount in say, USD, would be lower since the value of BTC declined during that time.
To tell if a listing is hedge or not, when you add it to your cart, it will say so.
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I had to cancel an order after it remained processing for 6 days and no response from vendor. Read the forums and discussions, sounds like vendor may have personal issues. So I researched cancelling, and found that if BTC depreciates on a hedged trade, I should get more BTC back on refund (yes I know there is a fee, but keep reading) today BTC is significantly lower than when I made the purchase. When I ordered on the 14th BTC was getting up to the 140s - I cancelled today when it was 126.8 thinking at least I can get back some of the fees I pay. Can someone explain what has happened? I reviewed my account and it shows in $ so its supposed to be hedged right?
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If the order was hedged you get the same dollar value back in BTC to what the order was minus the hedging fee of 4%. If the order was un-hedged you just get the btc back irrespective of if the value of btc has risen or fallen.