Silk Road forums

Discussion => Silk Road discussion => Topic started by: Black Tuna Gang on July 31, 2012, 02:17 am

Title: Bitcoin Question - Please Read
Post by: Black Tuna Gang on July 31, 2012, 02:17 am
Hi

I am trying to wrap my head around what the fuck is going on but can't. I have been blazing all night. :)

In a hedged situation, if an order is cancelled by the vendor, what happens to the buyers bitcoins?

In an exposed situation, same question.

If the btc are exposed but the order has not been marked in transit what happens then as it looks like the prices are now half price.

Somebody please explain :)

Thanks

BTG
Title: Re: Bitcoin Question - Please Read
Post by: Black Tuna Gang on July 31, 2012, 02:22 am
Still can't work it out.  :-\ Who's winning and who's losing?

What's the best way to work it out so everyone is ok?

Thanks
Title: Re: Bitcoin Question - Please Read
Post by: UKGrower on July 31, 2012, 02:25 am
I can't answer your question, but I think prices are now back to normal on the site.
Title: Re: Bitcoin Question - Please Read
Post by: Black Tuna Gang on July 31, 2012, 02:33 am
Ah yes, so they are. :)

I think i only had one buyer finalise early at a ridiculously low price. In this situation is it acceptable to give a refund and ask him to start again.

I also have 3 orders come in at the ridiculous prices. If they are cancelled will the buyer lose out?

THanks
Title: Re: Bitcoin Question - Please Read
Post by: BonesJones42 on July 31, 2012, 02:44 am

I think i only had one buyer finalise early at a ridiculously low price. In this situation is it acceptable to give a refund and ask him to start again.


Extremely acceptable. I'd expect most if not all vendors will be cancelling any orders placed during said time (when btc was ~$19).
Title: Re: Bitcoin Question - Please Read
Post by: Unsure. on July 31, 2012, 10:38 am

I think i only had one buyer finalise early at a ridiculously low price. In this situation is it acceptable to give a refund and ask him to start again.


Extremely acceptable. I'd expect most if not all vendors will be cancelling any orders placed during said time (when btc was ~$19).
I don't know.... What if the buyer had bought his coins at the higher price? But thought "fuck it I need the drugs and it ll work out the same anyway. " then you cancel his order and he has to pay more now his coins have dropped in value?
         You have to ask yourself if the BTC market had fluctuated in your favour would you be cancelling so as not to overcharge your customers?
      I think whether you choose hedged or exposed you have to stick with your choice and take what comes. If your gonna start casncelling orders when it doesn't go your way it's not fair on your customers. Fair enough if there were loads and you were gonna lose serious money but if there's just one order? Would you still make profit on the order?
Title: Re: Bitcoin Question - Please Read
Post by: Unsure. on July 31, 2012, 10:56 am
Sorry ignore me I'm talking shit! Hadn't realised the extent of the problem!