Silk Road forums

Discussion => Newbie discussion => Topic started by: birdie on April 18, 2013, 11:05 pm

Title: "Weighted average" and "hedging" for prices!
Post by: birdie on April 18, 2013, 11:05 pm
I just don't get it: everything adapts to this stupid Bitcoins only the prices not! So I can lose Bitcoins by only cancelling ok, but I should still be able to by the same stuff with my money! Or am I mislead?
Title: Re: "Weighted average" and "hedging" for prices!
Post by: surmer on April 19, 2013, 01:50 am
Sorry to tell you, but BTC is not idiot-friendly. Go back to being an Apple customer.
Title: Re: "Weighted average" and "hedging" for prices!
Post by: eerva on April 22, 2013, 04:08 pm
I just don't get it: everything adapts to this stupid Bitcoins only the prices not! So I can lose Bitcoins by only cancelling ok, but I should still be able to by the same stuff with my money! Or am I mislead?

If you're doing hedged transactions and cancel, you'll get an equivalent amount of BTC back for the USD price of the item you purchased at whatever the current average price is on Mt. Gox.

So sometimes you'll get more, sometimes you'll get less BTC. It's always the same USD back.
Title: Re: "Weighted average" and "hedging" for prices!
Post by: birdie on April 22, 2013, 04:48 pm
It is one way only: only dealers can hedge! I payed 1.25, several hrs later the price is going down (by dealers own because of Bitcoin  fluctuation) being now 1Bitcoin! It's just good or bad luck! The dealer is cashing more Bitcoins, but once again the buyer is left alone.
Everything is done to protect the dealer, but what about the buyers? I know it can be the other way round, but fuck that! Nobody can do business like that!
Title: Re: "Weighted average" and "hedging" for prices!
Post by: pakchoi23 on April 22, 2013, 04:57 pm
It is one way only: only dealers can hedge! I payed 1.25, several hrs later the price is going down (by dealers own because of Bitcoin  fluctuation) being now 1Bitcoin! It's just good or bad luck! The dealer is cashing more Bitcoins, but once again the buyer is left alone.
Everything is done to protect the dealer, but what about the buyers? I know it can be the other way round, but fuck that! Nobody can do business like that!


Birdie, your sole purpose seems to be coming on here and flaming the system.

It works very well for most people, most of the time.

Sure the dealers make money, that's the point.

Sure the buyer can get burnt with cancelled transactions and selective scamming. These are DRUG DEALS!

If you would rather take your chances on the street with some snotty nosed punk who has been dealing 2 minutes who will rip off as soon as kill you, be our guest.

If you want to stick around and enjoy the Silk Road experience I suggest you chill out. Learn how to type a coherent sentence and learn to take the rough with the smooth.

It's a gambling game. You are buying illegal drugs in the safest way I know, using a very new currency that has good days and bad days.

My first day I made $100, I expect I will lose £100 just as easily.


The secret to not losing out too much is to buy your bitcoins and then spend them all asap. That way you minimize the risk of them dropping in value while they sit in your SR wallet.

Or you leave them there and wait for the value of Bitcoins to go through the roof and cash in.

Choose reputable vendors. Never FE. Chill the fuck out.