Silk Road forums
Discussion => Newbie discussion => Topic started by: jjd1 on April 17, 2013, 01:06 am
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Ordered a few tabs of 25i and during the two days that it has been processing bit coins dropped quite a bit in value. Any idea how most vendors handle this type of thing? Sorry if this comes across as a really dumb question.
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Vendors are given the option of hedging their payments to avoid situations such as this.
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Depends on the vendor. if you get an asshole they will cancel your order and return your BTC to you at its current value. So you lose money not them even though they never lose money. How could they when they charge 2-3 times for it to begin with. So rather than look at it as if you did spend X to begin with they arent going to get X when they cash it in. The greed makes them want it all even if it means you will lose a lot. So if it went down you now have less. Also if it was hedged you will be charged a fee for it. Alot of vendors do this to the newbies only. Look in the forum its filled with stories of how the vendors cancel newbie orders when the BTC goes down.
I paid $200 bucks yesterday for BTC and by the time my order was canceled and it was returned to me I was down to $79.00. I was told it was because im a newbie. It doesnt say in the vendors ad not to make a buy if you are a newbie. Not just that the same vendor told me to go ahead and make a purchase FOR THE SAME THING I just had canceled on another one of their ads. WTF? I didnt have enough for it by then. So it obvious in this case its about what the BTC was worth by the time the vendor would collect it.
Yesterday I spent $200 bucks and what I got I can get locally for $50 bucks but it was that or lose more BTC. I was racing around trying to spend it before it dropped anymore. BTC sucks shit. Just my opinion.
Thats why im pulling back from SR as my only option and looking into other places for purchasing. I want to see if this newbie abuse is limited to SR.
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Ordered a few tabs of 25i and during the two days that it has been processing bit coins dropped quite a bit in value. Any idea how most vendors handle this type of thing? Sorry if this comes across as a really dumb question.
No question you will ever post if sincere will cross the logically minded and be "really dumb" . "Hedged" or "Unhedged"..You remember which transaction was yours??? Hedged=ok for both. Vendor wanted x $USD and got that.... "Unhedged= .. Vendor wanted x$USD for product but places at risk "y" . With this swing, he could have lost or gained alot.... Read ab Hedged and Unheadged... Good Question, +1 :)