Silk Road forums

Discussion => Newbie discussion => Topic started by: tiotiof on April 13, 2013, 06:05 am

Title: Order cancelled after the bitcoin crach!
Post by: tiotiof on April 13, 2013, 06:05 am
Hi, I'm a regular user of sr for 2 years now,and I have spend thousand of btc over here, but it's the first time I post in the forum and I have to say I'm really disappointed about some orders from a very reputable vendor here (i buy 2-3 times per month to this vendor since he is on SR) who cancel  my orders 3 days after I ordered some stuff when the btc was at 200$ and refund me with some btc at 60$ why they didn't cancel those order immediately if they fear the btc instability?? anyway now I have lose a lot of money and probably never trust and buy anything from him again and I'm probably not alone in this situation. >:(
Sorry for my English I hope you understand what I mean.
Title: Re: Order cancelled after the bitcoin crach!
Post by: dothedamnthing on April 13, 2013, 06:17 am
Yes, there are some vendors who have been doing this. There's a couple of threads on this topic going on in the main forums. Not much you can do unfortunately, except let him know that you are not happy about it. If you are a regular customer of his like you say, and he is reputable, he might make it up to you in one way or another.
Title: Re: Order cancelled after the bitcoin crach!
Post by: tiotiof on April 13, 2013, 06:29 am
Yes you should be write, I'll try to email him about that see if he propose me something.
Title: Re: Order cancelled after the bitcoin crach!
Post by: safras on April 13, 2013, 04:28 pm
Are people still buying? I really don't know what to do. The price of BTC seems so unstable and even though the value of my order probably won't be more than about £50, that is a lot of money to me (I am going through difficult financial times).

If I order I am worried about two things:
1) My Bitcoins lose their value between me buying them and me placing my order (so not only will I have lost money, I also won't be able to place my order and will have to purchase more Bitcoins, which then will have the same risk again...).
2) The vendor cancels my order (presumably because the value of BTC went down, which means again, I will have lost money, and won't get my product).

This situation seems very undesirable for buyers (but obviously for sellers as well, they have more money at risk). I don't know what to do.
Title: Re: Order cancelled after the bitcoin crach!
Post by: SirBaxter on April 13, 2013, 04:41 pm
make a note to not buy from them if you feel wronged, I made two purchases right before the crash that so far have been honored, they are in transit, I'll believe it when I see them at my door. One of the orders was hedged and one was not. I'll have mucho respect for the vendor that honored one of my orders unhedged, he's going to get about $35 for the gram of mdma I ordered at the peak after its finalized.

if you are really concerned about volatility, make orders from hedged vendors
Title: Re: Order cancelled after the bitcoin crach!
Post by: safras on April 13, 2013, 04:50 pm
After looking at prices on SR, I think many vendors have their prices at the $200+/BTC rate because the prices are about 3-4 times as much as the product is worth. I guess I'll wait and hope that this situation stabilises soon.