Silk Road forums

Discussion => Security => Topic started by: rainbowmembrane on May 19, 2012, 12:59 am

Title: First time buyer
Post by: rainbowmembrane on May 19, 2012, 12:59 am
Hi, I have a couple questions.

1) When looking at items in my shopping cart, what is "hedged"?

2) Where it asks for my name/address (in the shopping cart), should I encrypt that?
       -If so, then I suppose I need to do transactions from different vendors separately?

Thanks for any help, advice or insight anyone may offer.
Title: Re: First time buyer
Post by: rainbowmembrane on May 19, 2012, 01:43 am
*bump*
Title: Re: First time buyer
Post by: rainbowmembrane on May 19, 2012, 04:43 am
Please, someone tell me, what is hedged?????
Title: Re: First time buyer
Post by: cacoethes on May 19, 2012, 04:46 am
Hedged means the vendor is protected against devaluation of bitcoin, which have a tendency to fluctuate wildly from day to day.  If the price of an item is 10btc, at an exchange rate of 1 btc=5 USD, and the value of 1 btc drops to 4 USD, the vendor gets the number of bitcoins equivalent to the original dollar amount.  It also works in your favor if the value of bitcoin increases.

Always encrypt your address, or any other sensitive information when ordering or communicating with a vendor.  Each vendor has their own PGP key, so you will have to encrypt orders from different vendors separately.

Compose your message and save it, encrypt it with whatever PGP program you're using and the vendor's public key, open the encrypted message, copy the contents, and paste them into the field.
Title: Re: First time buyer
Post by: theverde on May 19, 2012, 08:49 am
Hedged means the vendor is protected against devaluation of bitcoin, which have a tendency to fluctuate wildly from day to day.  If the price of an item is 10btc, at an exchange rate of 1 btc=5 USD, and the value of 1 btc drops to 4 USD, the vendor gets the number of bitcoins equivalent to the original dollar amount.  It also works in your favor if the value of bitcoin increases.

Thanks man, me too i don't understood how "hedged" is. Well, until now  ;)