Silk Road forums
Discussion => Silk Road discussion => Topic started by: RickyRango on August 26, 2011, 09:28 pm
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My account is set to hedged escrow. It's my understand that it's supposed to protect the buyer and seller from rapid inflation/deflation. Well I sold an expensive item, and the money stayed in my escrow as bitcoins. Then btc dropped in value by $3, and I confirmed my order. Now I've only got US dollars in my escrow, and I received $60 less than what I was supposed to. I thought hedged was supposed to prevent that?!! Somebody please explain this whole thing to me because I'm just baffled completely.
The last time this happened I wasn't using hedged. I sold an expensive item and the btc value dropped by 50%, so I risked it all just to break even. Fuck. :'(
Anyway any help will be appreciated!
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it is not hedged until you confirm shipping.
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What mseller said.. Nothing is hedged til you have clicked "Shipped"... Luckily, I learned that from the beginning. Also, remember that hedging will cost the vendor about 4 to 5 percent. Thats the difference between the buy/sell price when you hedge.. So, keep that in mind.