Silk Road forums
Support => Technical support => Topic started by: venturebros on June 14, 2012, 08:14 pm
-
Hi Admins/All, I wasn't sure where to post this.
SO, I acquired a bunch of BTC ~1.5 weeks ago, and they were $5.11 I believe. And now it seems they have increased, as my wallet now has more $$ in it.
My question is, I have an outstanding order (hasn't been sent, still in processing), should/can I cancel my order? Will I NOW have more BTC because of the increase??
Therefore, I could then place the same order, but have more $$ leftover in my account. ???
-
I'd be interested to know this as well. I have my defaults set to $, so I don't see the BTC conversion until I checkout or add it to my cart.
Any admins or old-timers know this?
So does the money on SR stay the same as deposited no matter what? (including fluctuation)
-
Your account balance is constant # of BTC. If the value goes up, obviously you have more $ value in your account. If the vendor you ordered from had the listing hedged, then the amount of BTC in escrow will fluctuate to maintain the $ value of the listing. If the vendor did not hedge the listing, the amount in escrow is constant BTC. I am still not sure if canceling a hedged order will cause you to lose the 4% hedge fee that the vendor is charged for completed orders.
-
Your account balance is constant # of BTC. If the value goes up, obviously you have more $ value in your account. If the vendor you ordered from had the listing hedged, then the amount of BTC in escrow will fluctuate to maintain the $ value of the listing. If the vendor did not hedge the listing, the amount in escrow is constant BTC. I am still not sure if canceling a hedged order will cause you to lose the 4% hedge fee that the vendor is charged for completed orders.
Correct! +1
V.
-
vlad, do you know the answer to the hedged order cancelled question?
-
+1 to you Iceman for that info. I went ahead and re-read the Escrow/Hedged info. on the Buyers Guide, AND the Sellers Guide. Now it makes a little more sense to me.
So in theory when I got them at ~5.60 a btc, now they are 5.87 a btc, I COULD have made money waiting as well :'(. The order IS hedged, so neither of us is affected (good or bad), and he gets the equivalent in BTC. (converted to the purchase amount)
I saw the mention of vendor getting charged 4%, but yeah i'd like to know if the order is cancelled (have to modify shipping) would who be affected?
thanks guys!
-
Just found out the hard way, canceling an order that's "processing" (over a week+) if its HEDGED means I lose 4% as a buyer. :'( :'( :'(
Now I don't have enough funds to place an order when the vendor actually has the product, wtf >:(
I couldn't locate this information anywhere on SR, and I think I finally found someone mention it digging through my forum search results. ::)
-
Great Post
-
And a lesson you won't soon forget ::)
-
Just found out the hard way, canceling an order that's "processing" (over a week+) if its HEDGED means I lose 4% as a buyer. :'( :'( :'(
Now I don't have enough funds to place an order when the vendor actually has the product, wtf >:(
I couldn't locate this information anywhere on SR, and I think I finally found someone mention it digging through my forum search results. ::)
I made the same mistake, but it's okay we all make mistakes. Now we have this post for reference. Thanks. :)