Silk Road forums

Market => Rumor mill => Topic started by: italiano on August 20, 2012, 02:16 am

Title: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: italiano on August 20, 2012, 02:16 am
As from today we ''Italiano Team'' well go to virtual ''vacation mode'' because of the recent down of  the BTC this weekend, from 14$ to 7$!!!!!
Lucky the buyers who order from us the last week. Other will need to wait till the ''true'' price of BTC will start to rise and come back to normal.
We will still be active any day and control the orders that are in transit, check that all the  buyer's will pay and happy ;) ;)!! And also be active here on the forum.
Hope the price will go up quick ( min. 11-12$ ) so we can start to sell again.
Hope this will be only a few day's.

Italiano ''Team''
Title: Re: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: quinone on August 20, 2012, 02:23 am
Why can't you just hedge your listings?

It's the buyer whose crying just as much at these BTC values too ya know :(

Neways, hope they rise and you come back.
Title: Re: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: redalloverthelandguyhere on August 20, 2012, 02:40 am
I assume if a vendor hedges the BTC against the dollar then they will always get the price for the listing. An oz of weed for £200 for example will always be £200. The BTC issue with vendors is that to convert a lot of BTC is not easy. Say that they sell that oz when the BTC is £10, the buyer pays, the vendor has to wait till funds are released! So his 20 BTC for the oz might be worth £100 or so when he or she cashes them out for real money.

Its a gamble on both sides. I buy bitcoins at £7 and they are worth £10 the next day!! I get more value for money. I might save a small fortune. Coke might be 10 BTC a gram (£100) but I pay £70 in reality for it as I bought when my BTC was high!

Vendors have more to lose so a BTC fluctuating wildly means that its hard to predict profits!

Some vendors who got BTC on this site when a BTC was £2 something may have saved the BTC gambling on the upturn. Some have made millions. Maybe the market can be manipulated. Bu the beauty of the BTC versus real money is the reason we deal in BTC.

Fascinating market though. Wish I would have bought 1000 BTC at £2, but we all wish things we ought to have done. A buddy of mine DID invest and actually sold when they got near £10. He might be kicking his ass in two weeks when the BTC is £15.

But even if a BTC was £100, the buyer would be safe, the vendors less so as they don't just get a few BTC for supplies some get a lot of BTC so it must be a pain in the ass with the market so unpredictable.

I envision more 'holidays'.

Some products you need a lot of real life cash to buy. You lose on BTC due to fees. Vendors are right to express concern. I did FE for sesampino (out of courtesy and he did ask in an automated message that it would help if we could FE)

When a BTC was £8 - it went to £10 so if sesampino cashed out then he was lucky and made a profit.
Title: Re: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: italiano on August 20, 2012, 05:15 am
It seams that we will came quick from vacation mode  ;)
In the last 7h the price of 1BTC came from 7$ to 9,37$ at bitstamp!!
We will wait about 10h, and if it stay 10$+ will sell again. But I think that it will ;)
So good news!!
Title: Re: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: Limetless on August 20, 2012, 05:20 am
Just hedge mate, it's the way to go.
Title: Re: LIKE MANY VENDORS AS TODAY WE ARE IN VACATION MODE
Post by: italiano on August 20, 2012, 05:37 am
At the moment we turn back from vacation mode because the prices of BTC are start to rise. But if it will be a large down will go on vacation mode back!!