Silk Road forums

Support => Customer support => Topic started by: rohan111 on August 09, 2013, 10:47 pm

Title: Unprocessed order refund question
Post by: rohan111 on August 09, 2013, 10:47 pm
Hi,

I've seen a lot of refund threads in here but none seem to match my circumstances. With that being said, I apologize if this is a reposted question.

I ordered a package from a seller last week. Three days later, they sent me an email saying that they had run out of said item before they could fulfill my order, that they were sorry, and that they were cancelling the order. I then received a refund, but it was 0.1 BTC short of what I paid. I contacted the seller but he had no idea why this happened. Can someone explain to me what happened?

The only thing that may make sense is that the seller hedges his orders, and during that three day stretch the exchange rate USD/BTC went up so I received less back, but given that the seller flat out cancelled the order, shouldn't I receive the full BTC amount back?

Thank you in advance for any help you can provide. I have a transaction # if an admin needs it to help me sort this out.
Title: Re: Unprocessed order refund question
Post by: WhiteShark on August 09, 2013, 10:55 pm
If a transaction is hedged, the 4% fee is lost regardless (correct me if I am wrong)

Hence any hedged purchases you make that are cancelled by the seller will only be 96% return  as SR takes the 4% as they are still hedging the cancellation value
Title: Re: Unprocessed order refund question
Post by: rohan111 on August 09, 2013, 11:05 pm
OK, understood, but .1 BTC was over 9% of the original order price
Title: Re: Unprocessed order refund question
Post by: WhiteShark on August 10, 2013, 05:04 am
The remaining percentage likely represents a change in the bitcoin value. For example when you placed the order bitcoins may have been valued at $90/btc but when it was cancelled it was valued at $100/btc. In such case if an order cost $90 you would have paid 1 btc but when cancelled would have received back only 0.9*0.96 so only 0.864 BTC.