Silk Road forums

Support => Feature requests => Topic started by: Torn on January 26, 2012, 05:59 am

Title: Hedge frozen user accounts
Post by: Torn on January 26, 2012, 05:59 am
PIN to move btc or purchase is great. For the schmucks who get frozen due to 5 wrong guesses (a group that includes myself), 7 days is an eternity to have BTC locked up. Whoever this happens to during one of those "btc drops to half its value" weeks will feel doubly screwed. Value was mostly level for me, but that's just dumb luck. The rage that will happen during a week with a serious drop will be intense.

I'll ignore feasibility issues... that's SR's job and why they get the "big bucks".

I think locked accounts should automatically leverage SR's 'hedged' ability somehow in a way that's fair to everyone involved (e.g. account is locked 24 hours before being auto-hedged and un-hedges 12-24 hours before being unlocked).

I know this would in turn erode any profits that might happen because of a beneficial BTC rate movement, but I think its more important to protect against potential extensive loss rather than potential extensive gain.

Of course, anyone who's against it should be able to opt out but this is more about protecting someone who isn't aware of certain risks than someone who thinks they know better.