Say I place an order today, but the vendor doesn't accept it until tomorrow. Let's assume the worst and say BTC drops down to 520 or so over night.
Will the average vendor cancel an order over 5 bucks or so? Will it still go through since the price that counts is the one from when I ordered?
Smallish vender here,
I would never cancel an order like that, and neither would most vendors.
The reason being most smart vendors can't convert their BTC to cash as soon as the customer finalizes so the BTC price does not matter to us. At least for all the other "smart" vendors I talk with agree on this. Since we have to do an intensive tumbling and cleaning process, as well as conversion and exchanging process, and that's not even including the luandering.
It can take up to 30 days convert my BTC to "clean" money. So I tend to ignore the BTC price for the most part.
-styx