Silk Road forums

Discussion => Newbie discussion => Topic started by: Pimpmyweed on September 05, 2013, 12:47 am

Title: What happens when?
Post by: Pimpmyweed on September 05, 2013, 12:47 am
Just wondering what happens when bitcoin value drops for a short period of time but enough time for you to order from a vendor (SR states a lower price than normal)?

Is it give and take when it's unstable?

Just wondering incase i order at somepoint soon.

Thanks any advice appreciated
Pimp
Title: Re: What happens when?
Post by: NorthWestCoin on September 05, 2013, 12:56 am
A vendor can choose to accept bitcoin or have silk road "hedge" the bitcoins until you release them. If the vendor chooses to accept the bitcoins, he will have to deal with any price fluctuation. If on the other hand they choose the "hedged escrow" option, silk road will sell your bitcoins and hold the usd equivilent until the transaction is resolved. Then they will buy up an amount of coins equal to the USD value of the bitcoins when you placed the order.

Hope that helps. More info on this can be found in the wiki: http://dkn255hz262ypmii.onion/wiki/index.php?title=Seller%27s_Guide#Escrow_Hedging
Title: Re: What happens when?
Post by: Pimpmyweed on September 05, 2013, 01:02 am
Thanks North :) will try have a read of that now, losing forums intermittently atm